When it comes to binary options brokers, it is advisable to exercise caution while shortlisting them. However, you need not have any concerns about IQ Option as this broker is regulated by the CySEC and have been built a solid reputation since their launch in 2013.
We have scanned multiple IQ Option reviews on the web and have not come across any major complaints. This broker has shown that they have investors’ interests in their mind as they constantly improve their trading platform and provide top rate customer support in multiple languages.
In this IQ Option review, we analyze the main tools they offer to attract newbies as well as seasoned traders. Small-time investors will be glad to know that the minimum IQ Option deposit is just $10. Another benefit is the IQ Option demo account which enables you to test drive the platform with virtual money.
As mentioned earlier, IQ Option is regulated by the CySEC for its operations within Europe. Since their inception in 2013 they have worked hard to build a solid reputation for transparent business practices. This broker participates in the Investors Compensation Scheme which means you are sure to get compensation if they become insolvent. However, IQ Option is a recognized company and has won many awards for their binary trading services, so you are in good hands when you invest with them.
IQ Option constantly upgrades its trading platform to meet the ever-increasing needs and demands of investors. A standout tools is candlesticks which allows you to extend your market analysis for one month. In addition, they have added two years of price quotes to their database on historical prices. This enables you to access a greater range of historical price data while making decisions on trades. Plus, new technical indicators have been added such as Stochastic Oscillator, Awesome Oscillator, MACD, and Parabolic SAR.
In addition to the desktop trading platform you can download mobile apps for iOS and Android devices. If you are always on the move, you can use these apps to trade on the go.
Available asset types are: Majors and Minors Forex Pairs, US Stocks, Global and Eurozone Stocks, Global Indices, and Commodities.
Available trade types are:
- Classic options – trades with unlimited profitability
- Binary options – expiry time from 15 minutes
- Turbo options – expiry time less than five minutes
IQ Option gives access to 2 types of accounts:
- Minimum deposit of $10
- Participate in weekly tournaments
- Access all available trading instruments
- Minimum deposit of $3000
- 3% extra payout
- Free entry to tournaments
- Personal manager
IQ Option allows you to get enough practice on their trading platform and get used to its tools and features to decide if they are suitable for your needs. You get $1000 in virtual money for the demo account so take your time to familiarize yourself with all the tools and strategies before you invest real money.
IQ Option allows you to deposit securely using eWallets (Neteller, Skrill, Webmoney, and more), bank wire transfers, and credit cards (Diners, Visa, and MasterCard).
Withdrawal is allowed only with the same method utilized for deposit. You can withdraw even small amounts as is there is no minimum amount specified for withdrawal. This broker promises fast withdrawals within 24 hours.
Bonuses and Promotions
You can avail IQ Option bonus depending on the amount you invest. For instance, for a deposit of $100 you get 20% bonus, while for a deposit of $5000 you get 100% bonus. The issue normally with bonuses is that you need to execute a certain turnover to be able to withdraw them, so carefully read the terms and conditions before accepting.
IQ Option conducts regular trading tournaments with attractive cash prizes. Standard account holders need to pay a small entry fee for participation in these tournaments, while VIP account holders get free entry.
IQ Option provides customer support even on weekends. Besides English, support is offered in other languages such as Turkish, Swedish, Spanish, Russian, Portuguese, Korean, Italian, Indonesian, German, French, Chinese, and Arabic. However be warned that this broker does not accept investors from the US, Canada, Japan, Australia, Russia, Israel, Syria, Iran, and Sudan.
Let’s look at the pros of IQ Option: excellent customer support, regulated status, high payouts, user-friendly trading platform, and regular tournaments with lucrative prize money. The minor drawback is they don’t accept US-based traders. To sum up, IQ Option is a reliable regulated broker that uses the latest technological trends to provide an enjoyable trading experience to investors.