IQ Option Review
IQOption has been for some time, building a reputation as a leading trading platform, first for binary options, and now, presently traders have been using them for forex options, CFD’s (contract for difference)commodities, crypto, and ETF’s. The IQ Option trading platform provides flexibility for traders through trade types, multipliers, overall performance, and other advantages, which we will discuss in this review.
Regulation and Reputation
IQ Option is a regulated broker, regulated by and under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC), as IQOption Europe Ltd. IQOption is also a MiFID compliant broker, which means IQOption is legislated by ‘The Markets in Financial Instruments Directive’ which regulates IQOption as a provider of services to clients linked to ‘financial instruments’, such as fX options commodities, CFD’s and binary options etc. The British Financial Conduct Authority, the FCA also regulates IQOption. IQOption does not only trade within Europe. They provide trading to other countries around the world through their platform, and because of this they are regulated by the Seychelles Financial Services Authority as a separate entity IQ Option Ltd.
As a company they have won a large number of awards for their trading software, fourteen in total, a full list of them is available via their website, but here are just a few: Best Binary Options Broker & Best Binary Options Broker/Trading Application – IAIR Awards; Most Innovative Binary Option Broker – Show FX World; World’s Leading Binary Options Broker – MasterForex-V, Best Mobile Trading Platform – IFM Awards 2015, Best Trading Platform – Forex awards 2014
IQ Option Mobile
IQ Option mobile app is one of the best mobile trading apps on the market. The apps user-friendly approach with its jargon-free instructions makes it very easy to use. It has a full range of features that make trading easy to do on the go. You can analyze asset prices and generate signals at the touch of a few buttons. Plus of course, there is the practice account available from IQ Option, a feature many other trading software’s don’t provide.
IQ Option app for iOS is available for new users in the following countries only:
Argentina, Armenia, Austria, Azerbaijan, Brazil, Bulgaria, China continental, Colombia, Costa Rica, Croatia, Czech Republic, Denmark, Dominican Republic, Egypt, Estonia, Finland, France, Germany, Greece, Hong Kong, Hungary, Iceland, India, Indonesia, Ireland, Italy, Jordan, Kazakhstan, Kyrgyzstan, Laos, Latvia, Lithuania, Lebanon, Luxembourg, Mainland China, Malaysia, Netherlands, Nigeria, Norway, Pakistan, Peru, Philippines, Poland, Portugal, Qatar, Romania, Slovakia, Slovenia, South Africa, South Korea, Spain, Sri Lanka, Singapore, Sweden, Taiwan, Thailand, United Arab Emirates, Ukraine, United Kingdom, Uruguay, Venezuela, Vietnam.
Android IQ Option app, it is not available in Cuba, Cyprus, Liechtenstein, Malta, and Myanmar.
The first thing IQ Option offers you when you open your IQ Option account on their trading platform is the chance to start practice trading with $10,000 virtual dollars.
The IQ Option trading platform is very clean and straightforward to navigate. You have a navigation bar to the side which allows you to check on things like your trading history, your earnings calendar, the latest market news, and access video tutorials as well as get help at any time 24/7. The IQ Option trading platform has a lot available at the one click of your mouse button. You can place trades from as little as $1 up to the maximum of $1,000 depending on the level of risk you are comfortable taking.
We recommend that when you open your IQ Option account for the first time, you opt for the practice account first. Even if you are a seasoned pro with other trading platforms, it would be good to familiarise yourself with the navigation of IQ Options trading platform before you start to trade. Placing a trade is very straightforward and uncomplicated. To place a trade on the IQOption platform, select the asset option type you wish to trade. Your trade can be CryptoCurrency, CFD’s (contract for difference), Forex, digital fx options or binary options (see below for further explanation). Select the expiration time of the option, the amount you wish to trade and then select whether you want to Call or Put
– IQOption has over 70 assets you can trade in and there are spread over the four main areas of assets that you can trade in.
With IQ Option you can buy,sell and even store some of the leading crypto-currencies. There are currently 13 cryptocurrencies available for you to trade in. They are Bitcoin; Ethereum; Ripple; Bitcoin cash; EOS; Litecoin; TRON; Dash; Etereum Classic; Qtum; OmiseGo; Zcash; Bitcoin Gold.
CFD trading is a term used in trading markets referring to Contract of Difference, which is the agreement between two entities to exchange the entry and exit process of a trade. The contract of difference (CFD) mirrors the underlying asset making it a tradeable instrument. Therefore as a CFD trader, you will make a profit or loss when the underlying asset moves in relation to the position you take even though you do not own the actual asset.
IQOption offer over 500 stocks for you to CFD trade-in, from companies within a wide variety of industries, and some of the best and well-known industry leaders.
You can now trade the following commodity CFDs with an up to ×150 multiplier:
· Crude Oil WTI
· Crude Oil Brent
A forex trade occurs when you take one currency and trade it against another. For instance, you can buy the US dollar and at the same time sell the Euro, that’s simple forex trading. With IQ Option’s Forex trading, you can trade in 60 pairs of currencies such as the well-known ones like the US Dollar and British pound, or the US Dollar and the Japanese Yen. Plus there are other pairings that are not so when known, such as the New Zealand Dollar and the Canadian Dollar.
Forex Options Trading – For EU Traders
Unlike binary options trading (where the profitability of each deal is predetermined, plus if in the EU binary options cannot be traded unless you are a professional trader), FX options can boast unlimited upside. You can only lose up to the amount you invested. This feature can be a good strategy for your trading. When you cut your losses and at the same time let your profit grow, it is not necessary to win in 50 per cent of the deals. By making sure that the average win is greater than the average loss, it is possible to be in the black in the long run.
You can trade 12 of the top FX Options, such as Gold, Silver, Crude Oil Brent, Crude Oil WTI, UK 100, US 30, to name just a few.
With the IQ Options trading platform, you can trade either in digital options or binary options. You have a facility to trade in multiple assets; in fact, there are over 10 million options available. With both option types, the minimum investment is $1. With digital options, the expiration time is 60 seconds to 5 minutes, and the return can be up to 900% on a successful trade. However, an unsuccessful trade will result in loss of the investment. A distinguishing feature of Digital Options is a predetermined expiration time that works in 5-minute intervals. With binary options, the expiration time frame is 60 seconds to the end of the month, and the return can be up to 95% on successful trading, while an unsuccessful one will result in the loss of the investment. With Binary Options one can speculate on the price movements of various stocks, currency pairs, indices, and commodities.
You can only trade in binary if you live outside the EU in countries such as Brazil, Chile, Singapore, India, basically anywhere expect Europe and the USA and Canada.
ETFs work by tracking commodities, indexes and baskets of assets, and are traded in the same way as common stock on the stock exchange. Investors can sell short, buy on margin and buy as little as a single share of their chosen asset.
IQ Option offers 24 ETF’s to trade in, such as gold miners ETF’s, US Real Estate ETF’s, and the Dow Jones Industrial Average ETF, to name a few.
Demo Trading Account:
As we have already hinted at, IQ Option provides you with a demo account when you open a new IQ Option trading account with them. The first thing you must note is that the demo account which is not automatically given to you. You have to select it as your option, that you want to begin with the demo trading account first before trading in any of the various trading options properly. You can switch from the demo account to the live IQ Option trading account whenever you want by funding your account with any amount of funds over the minimum deposit of $10. To open the demo account, you can sign up with your email.
All the charts provided by IQ Option are live, and from the actual trading platform, so there are no fake charts or dummy accounts, it is as if you were trading for real. Thus the IQ Option demo account enables you to practice and improve your online trading skills, but it helps you decide whether you like the IQ Option trading platform and want to use it going forward.
Funding Your IQ Option Account
There are seven ways in which you can fund your account to enable you to start trading; Credit card – either Visa or Mastercard, Skrill, Neteller, Bank transfer, WebMoney WME and WMZ, and Sofort.
Four currencies are accepted, the Euro, British Pound, US Dollar, and the Rubble. The minimum amount that you can deposit is 10 EUR/USD/GBP or 300 RUB. There is no commission charged by IQ Option for funding your account. However, your chosen payment system provider may charge a fee. All processing times are instant, except for Bank transfer, which takes 1-3 working days, and Sofort, which takes up to 5 mins to clear.
Fund Withdrawal Methods
IQ Option offers six different methods for cash withdrawal. These are:
· MasterCard or Visa Credit Cards
· Cash U
· Wire transfer
There is no minimum amount of withdrawal restrictions, although if less than $2, you need to contact customer support. The maximum withdrawal amount is $1,000,000. You typically get your earnings within 8.5 hours.
IQ Option has built up a reputation as one of the leading trading platforms, especially for binary options outside of the Eu, and Forex and CFD trading in the EU.
- Highly Regulated
- Multi-award winning
- Large portfolio of assets
- Excellent response times for customer service
- IQ Options is not available in Australia, USA, Belgium, Canada, Iran, Israel, Japan, Latvia, North Korea, Pakistan, Palestine, Russia, Sudan, Syria and Turkey.