IQ Option Review
One of the hardest things to do when it comes to trading binary options is to pick a site to trade them on. There are literally hundreds of choices out there depending on wjaphere you live. That is why we take our job of doing reviews so seriously because we know you don’t have the time to go through and look at all these sites to trade on yourself. Today we will take a look at an innovative and progressive binary options broker called ‘IQ Option’.
IQ Option first came onto the scene in 2012 and has gained a steady amount of investors since then. When we checked online we found the site gets very favorable reviews and is generally well thought of by those that have traded with them. The site definitely caught our attention when we discovered how much those that traded with them highly regarded this web broker. Here is our review of what we feel is a very well done and worthy site to trade binary options on.
We will walk you through everything from the signup to the site right on through to placing trades and customer support.
Online since: 2013
Max Returns: 91%
Minimum Deposit: $10
Minimum Investment: $1
Maximum Investment: $1000
Currencies: USD, AUD, NZD, RUB, CAD, EUR, GBP, Yuan
Mobile: Android, iOS
Countries: Accept all countries except USA, Canada, Australia, Japan, Russia, Turkey, Israel, Syria, Sudan and Iran. Users from following countries can not trade from iOS mobile application: Malta; Android application unavailable for: Malta, Myanmar, Liechtenstein, Cuba.
– Very good trading platform
– Good variety of options
– Excellent returns
– Interface is very friendly
– Smallest minimum investment we have ever seen
– Regulated by the respected CYSEC agency
– Stand-alone demo account
– Interactive learning tools
– No customers from USA, Japan, Canada, Israel, Syria, Sudan and Iran accepted
7 Binary Options Rating:
Using IQ Option on Mobile
Since its launch in 2013, IQ Option has been at the forefront of developing innovative technologies in the binary options trading industry. It was the first Russian broker in the sector, and the team behind it used their expertise to create new and effective features that make the platform easier to use. In the world of binary options trading, that means giving traders features that help them more effectively analyze the market, generate more accurate signals, and place profitable trades. One of the most popular of these technical innovations is IQ Option’s mobile app.
The IQ Option mobile app is one of the best mobile apps from any binary options broker. It is extremely user-friendly. This is, in fact, one of the app’s biggest selling points, as many of the other apps available in the industry are difficult to use. In fact, with most apps, you have to be an experienced trader who has a deep understanding of the intricacies of the market and the technical jargon used. Not the IQ Option app though. It is powerful, so it is suitable for experienced traders; but it is also jargon free and easy to use, so it is suitable for those new to binary options trading too.
The app simplifies the process of trading binary options, and many traders prefer using it over the desktop website.
It has a comprehensive range of features, so you can do everything you need to successfully trade binary options. The features include the ability to analyze the price of assets so you can generate signals and make predictions that will enable you to place profitable trades. All the graphs are easy to read and have an incredible level of detail, particularly when you pinch the screen to zoom in. Placing a trade takes a couple of simple taps.
It has a modern interface, and everything loads fast. In terms of look and feel – as well as functionality – the IQ Option’s app is a lot like a sports betting app. If you have used one of those, you will quickly get the hang of the IQ Option app. Just like in sports betting, it is all about making an accurate forecast. There is risk involved too— you will lose your money when your predictions are wrong.
The app is secure, so your money and personal data are safe. It also offers good notifications, so you can get involved in tournaments and check price trends as they are happening.
Downloading the App
The IQ Option app is available in Apple’s App Store and the Google Play Store for those with Android devices.
Even if you haven’t used a mobile app for binary options trading before, it is good to have the facility. The reality is that most traders do use desktops when trading, but mobile is a growing market for the industry. This is the reason why forward-thinking operators like IQ Options are investing in their mobile offering, so they can give users a better level of service. This sort of innovation is why so many traders choose to use IQ Option to invest their money and generate a binary options income.
Click on the button below to download the IQ Option mobile app now:
The landing page for signing up to the site is very straightforward and easy to understand and that was echoed in the actual signup process to access the website. We just had to fill out a simple form, verify our identity by providing some information and then make a deposit to gain access to use the broker for placing binary options trades. IQ Option was very similar to other web brokers we have signed up with and we found it a very simple process to get done.
Right off the bat we were amazed that all it took was a low minimum deposit of $10 USD or British Pounds to get started trading. That is just about the lowest deposit we have ever seen to enter into trading with a web broker; that type of dollar amount really lets anyone who wants to trade binary options do it despite their income level. We invested a little more than that because we wanted to see how well their worked but so far we were not turned off at all by the signup process and were looking forward to seeing what else they did right with their brokerage website.
Have you tried automated trading yet?
Many successful binary option traders use the best fully automated trading software in the market that got the astonishing average winning rate of 91% in our test – Option Robot. The award winning software allows you to trade more profitably with less work. The best thing about it is that it is now completely free for our readers, but probably not for very long time, so I recommend you to try it out today.
Other recommended auto trading robots:
Video on How to Trade on IQ Option
Types of accounts
IQ Option likes to keep it simple and treat everyone fairly no matter how much they invest so there are only two different account levels on the website Here is what each has to offer:
IQ Option Real Account
Over 70 assets
Full access to trading opportunities
Participation in trading competitions
Fast withdrawals in just 3 days
Real money trading
Start with a $10 deposit
IQ Option VIP account
Over 70 assets
Full access to trading opportunities
Participation in trading competitions
Faster withdrawals in just 24 hours
Real money trading
Monthly analysis of your trading with our analysts
VIP access with deposit from $3,000
Account and Banking Options at IQ Option
IQ Option offers a number of different accounts that you can sign up for. Which one you chose depends on your objectives and the amount of money you want to allocate to binary options trading.
Most people start with the Real Account. It has a very low minimum deposit of $10, making it viable for any type of trader, including beginners. Your account will give you access to over 70 assets that you can place trades on. All trading features are included with this account, so you can make substantial profits if you make the correct price predictions.
Another account offered by IQ Option is the VIP Account. It has a $3,000 minimum deposit, but it comes with additional benefits. This includes a personal account manager who will help you make the most of your account and maximize the potential of your trading strategies. A VIP Account also gives you the chance to get up to 60 percent of the amount you invested if you make the wrong prediction.
A number of options are available for depositing money into your account. These include:
- Credit card – MasterCard and Visa Card
- Cash U
- Wire transfer
The low minimum deposit of $10 that IQ Option offers is flexible, but it doesn’t mean you should stick to this low amount. It is always best to base your strategy on what is happening in the market and your current financial position.
it is a good idea to keep your deposits and trades low when you are just starting out as a binary options trader. Everyone has to go through a learning curve, and that will mean some losses. It is much easier to deal with small losses than large ones when you are a beginner.
Withdrawing Funds from IQ Option
When you start making money at IQ Option, you will eventually want to withdraw some of those funds to spend or invest how you chose. Luckily the withdrawal process at IQ Option is simple and safe. To protect traders’ money, all withdrawal requests have to be approved by the IQ Option team. This means withdrawals don’t take place immediately, but there are no unnecessary delays.
You can withdraw money using a number of different methods:
- Credit card – Visa Card and MasterCard
- Maestro Card
- Bank transfer
- Cash U
Before you make your first withdrawal you will have to confirm your identity with IQ Option. This is to help protect the platform against fraud and to keep it compliant with money laundering legislation. Your personal account manager or a member of the customer support team can guide you through the process. To process a withdrawal, you have to specify the amount, payment method, and currency.
The length of time your withdrawal takes depends on the type of account you have. VIP Account holders can expect their withdrawal requests to be processed in less than a day. Real Account holders may wait up to three business days. The minimum amount you can withdraw is $10, and the maximum is $1 million.
Is IQ Option Regulated?
IQ Option is one of the most popular binary options trading platforms in the world, but it is still important to investigate its trustworthiness. This is important to all traders because of the nature of the market. There are two things we have considered when looking at IQ Option – its own policies and its regulation status.
IQ Option’s parent company is InvestLab Ltd., and it is regulated by CySEC. This fact puts IQ Option ahead of other binary options brokers that haven’t gone through the strict processes of achieving regulated status.
IQ Option hasn’t left it there though. In fact, from the policies that we have read, they offer levels of protection for their customers that are significantly higher than the requirements of the regulator. This includes policies for how traders’ money is dealt with as well as deposit, withdrawal, dispute, and privacy policies.
All of the policies are easy to understand and comply with and are designed to protect everyone involved. This includes actions to prevent money laundering and ensure traders are properly identified. When you are just starting out at IQ Option, the steps you have to go through can seem a bit onerous. For example, you may have to provide documentation that proves your identity. When you understand that this is for your protection, you will appreciate why it is done. It also helps maintain the reputation of IQ Option.
We have been telling you all along that IQ Option is among the most innovative websites that we have ever come across. How do we know this to be true? How about the fact that they were the first to offer their account holders a free demo account to practice and learn on; it was a tool that sent a ripple effect throughout the industry as many online binary options brokers and binary option robot followed suit and added them to their list of learning tools.
Their free demo account helps those that trade with them learn how to operate the trading platform and it also teaches them the finer points of binary options trading before they enter the actual trading platform and start risking real money. Demo accounts offer site users a risk free introduction to binary options trading for sure. IQ Option’s stand-alone demo program even includes an educational webinar that goes along with it.
The excellent and innovative learning tools do not stop with the free demo account either. IQ Option was also one of the first sites to offer interactive learning for their users too. It is just another way to get ahead in the binary options trading market; the website truly believes that a well-educated binary options trader has a better chance of being a successful binary options trader.
There are additional learning tools such as free webinars, instructional videos, tutorials and a handy eBook too. They will do what it takes to get any level investor successfully trading binary options on a consistent basis almost automatically. So whether you are a novice trader or consider yourself a seasoned binary options trading veteran, you will find something useful in their abundant learning section that will help you be even more successful.
Auto Traders and IQ Option
You have a number of options available if you want to use an auto trader to implement your binary options trading strategy. The first and most obvious is the IQ Option auto trading robot. It is a relatively new robot, so it doesn’t yet have a proven track record.
If you want an auto trading robot with an established reputation, check out the following links:
- Option Robot Automated Trading Software – You can open account this effective robot for free.
- Automated Binary – One of the most popular auto trading robots on the market today
- Binary Option Auto Trading Review – This page reviews the best auto trading robots available today.
To be a successful binary options trader you must have a strategy. With IQ Options, it is easy to develop a strategy and optimize it as you have access to a range of resources and educational tools. You can access most of the tools directly from your dashboard on the trading platform. The visual display is easy to understand, even for beginners. You can see trends, plus there is technical analysis information available as well.
The educational resources cover a vast range of topics. They are also free to use, which is always a benefit to new binary options traders. There are options designed for complete beginners as well as people who have some experience. Whatever stage you are at in your binary options trading journey, the resources will make you a better trader. The resources available include videos, eBooks, webinars, and tutorials. Some examples are below.
The Trading Strategies You Can Learn at IQ Option
Examples of the binary options trading strategies that IQ Option offers are outlined in brief below. This will help you decide where best to focus your time first. Before going into those strategies, it is important to understand some basic tools of investing:
- Japanese candlesticks – If you have seen a chart that shows the price movement of an asset over time, you have probably seen a Japanese candlestick. They show the movement of the price over a given day. Once you learn how to read them, they are incredibly useful. You get both the opening price and the closing price. An asset that increases in price will have a green candle, and an asset that falls in price will have a red candle. You can therefore see at a glance how far an asset’s price has changed (the bigger the change the bigger the candlestick) and in what direction.
- Trend lines – Trend lines are depicted visually by a line above the price of an asset on a chart and another line below the price. These two lines create what is known as a trending corridor. They represent the typical upper and lower values that the asset usually fluctuates between, i.e. when the price of the asset reaches the upper line, trends suggest that it will start to move down again. The bottom line is called the support line, and the upper line is known as the resistance level.
Simply understanding these analysis tools and getting practice using them will make you a better binary options trader, as you will be able to generate your own signals.
Let’s now look at the main trading strategies you can learn at IQ Option.
- The Three Black Crows Strategy
This is a strategy that looks for trend reversals. To make it work you need to identify an asset that has several candlesticks in a row that are all showing a price movement in one direction – either up or down. Then you have to wait for this to reverse. You will know this is happening when you see three falling price candlesticks in a row. This is an indicator that the trend is reversing and gives you a signal that can be used to make a trade.
- The Rebound Line Strategy
In this strategy, the price trend of the asset is not relevant. Instead, you look at the trend lines mentioned above. What you should look for specifically is a closing price the is just below the resistance level (the upper line) or just above the support level (the lower line). In this situation, it is much more likely the price will move away from the line than go through it, breaking the trend. Therefore, you can use this as a signal to place a PUT trade if the price closes just before the resistance level and a CALL trade if the price closes just above the support level.
- The Rainbow Strategy
This is a more complicated strategy, so it is probably best to get familiar and comfortable with the other options on this list before attempting this one. It works by simultaneously using exponential averages. There are three of them, all with different periods. On the chart of your selected asset you have to mark in blue the first line you see with a period of six. Mark in yellow the second line that has a period of 14, and mark in red the third line that has a period of 26.
To identify a potential drop in price, look out for:
- The yellow line moving below the blue line
- The blue line on top of the other two
- The red line at the bottom
The best time to place a binary options trade (a PUT trade) is when the blue and yellow lines intersect.
To identify a potential rise in price, look out for:
- The red line on top followed by the yellow line and then the blue
- The red line on top of the other two
- The blue line at the bottom
The best time to place a binary options trade (a CALL trade) is when the blue and yellow lines intersect.
- The Piercing Line Candlestick Patter
This strategy involves looking closely at the candlesticks on your chart. Again, it is about identifying trend reversals. To spot an upward trend that is about to reverse, look for two candlesticks where the second closes in the middle of the first one. The candlestick that immediately follows (the third candlestick in the row) should be ascending. If a fourth candlestick also shows a price increase, a trend reversal is probably imminent. You can work this strategy the opposite direction to spot a downward trend that is about to reverse into an upward trend. These potential price reversals are signals that you can use to place binary options trades.
- The Pin Bar Strategy
The Pin Bar Strategy is another example of a more complex and involved strategy to execute. Therefore, it is usually used by traders who have built up some experience using other strategies. It is an effective strategy, so it is one you should explore when you feel comfortable.
The basic principle is to predict an asset’s upward or downward trend. You do this by analyzing the asset’s pin bar candlesticks – in particular, pin bar candlesticks with tails.
The specific type of pin bar candlestick that you should look for is one with a long tail and a small body. The direction of the tail indicates which way the price might move as it demonstrates which way the market is moving. This is a signal that you can use to place a binary options trade.
Not all pin bar candlesticks with tails are the same, and not all are suitable for this trading strategy. Here are some additional criteria that you should apply to ensure you get a pin bar candlestick that generates an accurate trading signal:
- Its open and close price should be close to the end of the previous bar
- This open and close price should be near the bottom or the top
- The open and close price of the pin bar candlestick should be inside the left bars
The signal is regarded as strong when these conditions are met. Usually, strong signals are an indicator that you should place a trade.
You now need to know whether the price of the asset is going up or down so you can place a winning trade. If the tail of the pin bar candlestick points up, you can expect the price of the asset to go down in most situations. The reverse happens as well. If the tail of the pin bar candlestick points down you can expect the price of the asset to go up.
- The Moving Averages Strategy
In this strategy you generate signals by developing indicators of moving averages. This is done using the technical analysis tools available in the IQ Option. It is an extremely popular trading strategy. In fact, it is one of the most commonly used strategies by traders of all levels of ability. They don’t always use it in the same way, i.e. traders of all levels of ability can successfully deploy simple and exponential moving averages. Weightage and smooth moving averages, however, are usually only attempted by experienced traders who are deploying complex strategies.
Of the four options – exponential, simple, smooth, and weightage – simple and exponential strategies are also the easiest to calculate, and they generate the most accurate signals. This makes it possible to create profitable strategies and place winning trades.
That said, exponential and simple moving averages are not exclusive to beginner traders. They are also used in complex strategies to increase profit margins and win ratios, with the objective being to maximize the benefit of the breaking line and rebound line in the corridor.
- The Alligator Strategy
The IQ Option platform makes this strategy quite simple to execute and use successfully. It is another one that is based on moving averages, but this time we are only interested in smooth moving averages. It is theoretically possible to make the strategy work with exponential and smooth moving averages as well, but the IQ Option platform is optimized only for smooth moving averages. The reason for this is that smooth moving averages are largely unaffected by insignificant fluctuations in the market. This gives better signals and, potentially, makes it more likely to place winning trades.
The smooth moving average that you will monitor will show the different moves of the asset within a defined time period. The lines you see will show the price the asset is likely to reach within the time period. Shocks to the asset or wider financial markets can affect this, but when that doesn’t happen, the strategy is reasonably accurate.
The reason the strategy is called The Alligator Strategy is that the candlesticks look like alligator teeth when it is time to place a trade. If the candlestick opens upwards, you should place a CALL trade. When the candlestick opens down, you should place a PUT trade.
If the candlesticks look any other way, you should not enter the market. This is because it is too difficult to predict which way the price is going to move, i.e. you won’t know whether to place a CALL or a PUT trade.
- The Breaking Line Strategy
This strategy is one of the simplest to understand and execute at IQ Options. It is based on the support lines and resistance lines of an asset, as explained above. These are the lines that indicate the upper and lower prices that an asset trades between. If those lines are broken, it is an indicator that something else is going on in the market aside from normal price fluctuations. It can, therefore, be a signal to place a binary options trade.
In simple terms, your trade should go with the direction of travel. This means placing a CALL trade if the candlestick closes above the resistance line and a PUT trade if the candlestick closes below the support line. This is because the price is likely to continue moving up if the asset breaches the resistance line, and it is likely to continue moving down if it goes through the support line.
This is a strategy that can be used regardless of how the price of the asset is trending overall.
- The Bollinger Bands Strategy
This is a commonly used investment strategy that looks at the volume of trade on a particular asset to generate a signal of which way the price is likely to move. In IQ Option, you use a chart that shows three lines – or bands. The middle band is the smooth moving average and will have around 20 candlesticks.
The bands widen and narrow depending on the volume of trade taking place on a particular asset. When trading is heavy, the bands widen; and when trading is light, the bands narrow. What you should look for is a rapid widening of the bands, as this can produce a signal that you may be able to use to place a trade.
As you can see, IQ Option offers trading strategies that vary in terms of type and sophistication. This is one of the reasons that it is such a popular binary options trading platform. It gives you all the tools you need to develop a trading strategy, generate accurate signals, and make profitable trades. You can use the many analytic tools available – many of which are free – to improve your strategy and how you interpret signals and price movements. This will make your trading efforts even more profitable.
Getting an IQ Option Demo Account
IQ Option does offer a demo account facility, so you can try the platform before risking any of your own money. Signing up is easy. You can even sign up using Facebook or Google. Once registered, your demo account will become active. It is free to use and includes $1,000 of virtual money that you can use to place virtual trades.
The money and trades are virtual, but they are exact replicas of the real cash trading platform. This means you can use your demo account to develop, test, and refine trading strategies as well as work out whether or not you like the IQ Option platform.
This makes the IQ Option demo account ideal for anyone new to binary options trading. It is completely free and totally risk free. In other words, none of your money is at risk at any stage, and you don’t have to pay anything to use it. You can use a demo account to learn what binary options trading is about, get an understanding of the terms used, and learn more about the strategies that work.
Once you feel you are ready, you can convert your account to a real cash account by depositing money. This will allow you to trade and make real profits.
IQ Option Awards
Since it first launched, IQ Option has received numerous awards in the binary options industry. The most recent was an award for being the most reliable broker on the market, while another award was given to IQ Option for having the most innovative trading platform. These awards are industry awards, so the judges include the most experienced and well-respected names in the industry. In addition, IQ Option beat off stiff competition to collect the awards. Other names that were up for these awards included Option FM, Banc de Binary, Finpari, and 24option. They are all respected binary options brokers, but IQ Option beat them all.
US Traders and IQ Option
If you are from the US, you will not be able to use the IQ Option. This is unfortunate, as it is one of the best binary options brokers on the market. It is also a further blow to the US-based trader who doesn’t have as much trading platform choice as people from other parts of the world, particularly after SpotOption pulled out of the US market.
Some binary options brokers and binary options robots that still do accept US-based traders are Option Robot and Automated Binary.
If you like to have a lot of options as far as different assets to trade on your binary options then you have come to the right place. IQoption offers over 70 different options to trade on, many of which are popular stocks such as Wal-Mart, Google and Apple. They offer their users the ability to choose between stocks, indices, commodities and matched currency pairs to trade with. There is enough variety of assets that any level trader should be able to find ones they are comfortable trading and can place winning trades consistently with.
IQoption decided once again to be innovative and design a trading platform that they thought would really appeal to their many traders and be simple to use and understand. Well they did a great job at this. Their trading platform is among the best we have seen
It is laid out nicely and easily menu driven. It also has unique zoom and custom layout features which are quite unique to say the least. It is a platform that will appeal to all level traders to say the least.
The well-designed trading platform makes it very easy to execute trades on the website. The minimum investment is $1 and the maximum investment is $1000 dollars so it gives you and the other investors on the site a wide range of investment options you can use based on how confident you are in the trades you want to make and the amount of risk you want to go along with that.
All you need to do to place a trade is sign onto the website and go to the trading page. From there you select the type of option you want to trade, the asset you want to trade with the option and the amount you want to invest. All this can be quickly done with just a few simple mouse clicks; it is really that easy to place and execute a trade on IQ Option. You will be spending your time picking winning trades instead of trying to place trades on a hard to use platform like other sites have.
IQ Option’s Binary Options Tournaments
There has been a lot of mention about how innovative the IQ Option trading platform and offering is. One of the best examples of this are the binary options tournaments they run. This is a unique feature to IQ Options and brings an element of fun and competition to binary options trading.
There is a serious side to them too though – you can make a lot of money.
There is an entry fee to take part in the tournament, and they normally last about 30 minutes, so you don’t have to allocate much time to get involved. Your entry fee gets you a virtual tournament balance of $10,000. You then have to get to work placing binary options trades. The participant with the highest virtual tournament balance at the end gets the top prize. Some of the prizes are variable, so they depend on the number of tournament participants there are, while other prizes are guaranteed.
The rules for each tournament can vary, but some give you the option of buying back in to the tournament if you lose your virtual tournament balance. This buy-in typically costs the same as the initial entry fee and usually brings your virtual tournament balance back to $10,000 so you can start trading again.
The tournaments are an exciting new twist on binary options trading. If you haven’t tried one yet, you should give it a go. You can make good money. In fact, we have seen prize funds worth 100 times the entry fee. That is a lot of money you can potentially make in 30 minutes with minimal initial investment.
Strategies for Tournament Success
The tournaments at IQ Option are exciting and fun, but they are also a competition that is there to be won, and there is real money up for grabs. This presents an opportunity, particularly given the fact that many people involved in the tournaments do so without a clear strategy. If you have a strategy, you will immediately have the edge, regardless of your level of experience as a binary options trader. Here are some things you should remember:
- Always go for the win – Most tournaments have a number of prizes, although the value of each depends on where you end up on the leader board. Therefore, it can be tempting to consolidate your position if you are in a lower place to ensure you get something. However, this type of strategy limits your potential and means you may never get the top prize. It is almost always significantly more valuable than the runners-up prizes, so you should always try to win – even when you are in second place.
- Take your time initially – Don’t jump straight into trading when the tournament starts, as you will be doing it blind. You should first take a couple of minutes to learn how the other participants operate. For example, are they aggressive or cautious? Of course, don’t let anyone build out too much of a lead too quickly, but observing in the initial minutes instead of trading will give you information you can use later to win.
- Adapt your trading strategy as the tournament progresses – By the tournament’s mid-point, you should have a good idea of the approach of the other participants. You will also know where you sit on the leader board. This is the time you should start adapting your strategy to maximize your position. For example, if the main competitors in the tournament are using a cautious strategy, you could try putting clear distance between you and them by being more aggressive. If you are already the leader, you can start to consolidate your position without taking unnecessary risks. If you are not the leader, you can work on strategies that keeps you as close to the leader as possible so you can make a final push for the win closer to the end.
- Towards the end of the tournament, go for it if you are not winning – If you have not had a good tournament and are low down on the leader board towards the end, don’t lose hope. If you still have a tournament balance, you still have a chance. It is a time to throw caution to the wind and take a high risk / high reward approach. If you don’t, you are going to lose anyway, so you might as well go for the win.
- Analyze and measure – Whether you win or lose, analyze your strategy when the tournament is over to identify areas for improvement. You can then use what you learn the next time you participate.
Return on Investment
What is the best thing no matter what binary options website you are using? That is right, it’s all about making profitable trades and IQ Option gives you all the tools you need to make that happen on a consistent basis. When you do make a successful trade you will often profit as much as 91% on the money you invest. That is a return on investment that is much higher than any other form of financial market trading and as good as or better than you will see with most other binary options brokers.
It is as easy to make deposits on IQoption because of all the different forms you can pay your deposit. They allow you to use such things as Visa, MasterCard, bank wire transfer, Skrill, POLI, Maestro, CashU and WebMoney to quickly make a deposit and get you onto the website to start trading.
As was mentioned before the minimum deposit of $10 is extremely low compared to the rest of the binary options brokers, but we recommend to deposit more min. $250 to get trading started.
Making withdrawals is a very streamlined process also. They will generally be processed in 1-3 business days and they can be done in many of the same forms as was used to make your deposit. Keep in mind that in order to make a withdrawal the first time you will need to send scanned copies of your government issued ID, a scanned copy of a utility bill and a scanned copy of your signed credit card if that is the withdrawal method you are using.
There are fees from $5 – $10 depending on the withdrawal method, so you have to be careful there even though the minimum withdrawal is only $10.
Customer support was very helpful and very good at resolving issues but we had some problems with the way the customer service was handled. There is no phone or live chat option for customer service and we were more than a little surprised by this. It meant there was no way to get an answer to a question or concern in what would be a timely manner.
Of course you are assigned an account manager that can help you with any issues or concerns you have while using the site but they are not available 24/7 so at those times you may end up waiting for a response. We feel that IQ Option is ok here but there is definitely room for improvement.
Is IQ Option a Scam
IQ Option is based in Russia but has many satisfied customers all over the world, including in Europe, China, America, and many other countries. In fact, it is one of the most respected binary options brokers available. It has not earned that reputation easily. It has done it through innovation and by offering a trading platform that gives traders – even those new to binary options trading – everything they need to execute profitable trades and learn more about developing successful trading strategies.
This sort of innovation and development of the platform requires investment and commitment. IQ Option has been rewarded for this investment and commitment, as it has received many awards. These awards validate their position in the market and are an indicator of the quality of the platform. The awards include the most innovative binary options trading platform in 2013 because of the tools it offers to traders. The following year it was also recognized as being the safest and securest binary options trading platform on the market, as it has received no complaints or reports regarding spam.
Our investigations have discovered that IQ Option operates strict policies regarding payments, and they have robust rules around protecting personal data and ensuring your money is safe. This includes using European banks.
In addition, IQ Option is licensed by CySEC, which offers added assurance to traders.
This is the type of site that traders from the USA and Japan would be thrilled to place trades on but unfortunately the citizens of those countries cannot trade on IQ Option; that is something that the site’s management may want to work on in the future.
There is simply a whole lot to like about the IQ Option broker. Their very low minimum deposit offers entry in to the binary option marketplace for just about anyone. Knowing they are regulated by CySEC means it is a fair and reputable site that can be trusted and it also gives their account holders peace of mind that there funds are processed and retained in a European Union based bank account.
We also liked very much their innovative and forward thinking learning tools. It is very unique that their highly helpful demo account acts as a stand-alone account instead of being part of the regular trading platform; this enables the tech team at IQ Option to put features into the demo that make it more closely resemble the actual trading on the real website. The interactive learning tools will help you get ahead of the learning curve faster than more traditional learning tools also.
It is really easy to see why IQ Option became so popular so fast. We loved that they were courageous and innovative enough to build their own web platform for their many users to trade on. We also give high marks to any site that is confident enough in their business practices to allow regulation.
They back everything up with outstanding customer support and the high marks that get on reviews like this show their commitment to help those that trade with them be successful and leave them with a positive trading experience. Simply put, we give this binary option broker a big thumbs up and would recommend any trader of any knowledge level to give them a try. You surely won’t be disappointed if you do.
To indicate IQ Option won us over and impressed us a whole lot would be making a big understatement to say the least.
Open a Free Account by Clicking the Green Button Below
When you deposit more than $200, you’ll get extra rewards, but with $1000 you’ll get massive benefits!
Get also a VIP access with a deposit of at least $3,000, and with the highest deposit amounts you’ll also be rewarded with extra benefits on each deposit.
Customer Service: Email: [email protected] and 24/7
Languages: English, Russian, Turkish, German, Spanish, Portuguese, Chinese, Swedish, Korean, French, Italian, Arabic, Indonesian
Trading Options: High / Low, 60 second and others
Assets: Currencies, Stocks, Indices, Commodities
Early close: No
Expiry Times: 60 second, 2minutes, 5minutes, 15 minutes, 1 hour and End of Day
Deposits and Withdrawals: Credit Card, Wire Transfer, Skrill, Qiwi, WebMoney, CashU, iDeal, Fasapay, Neteller, Boleto
Withdrawal Time: up to 3 working days
Demo account: Yes free of charge
Number of assets: 100+
Trading Platform: Web-browser, standalone app
IQ Option Articles:
References and Further Reading:
Price dynamics in political prediction markets (Saikat Ray Majumder, Daniel Diermeier, Thomas A. Rietz and Luís A. Nunes Amaral – 2009)
Do language barriers affect trade? (Johannes Lohmann – 2011)
Credit Default Swap Index Options (Mike Jakola – 2006)
Estimating the probability of informed trading—does trade misclassification matter? (Ekkehart Boehmera, Joachim Grammigb, Erik Theissen – 2007)
Automated trading system in an electronic trading exchange ( John M. Marynowski, Catalin D. Voinescu, Stefan Puscasu, Thomas M. O’Donnell – 2007)
Exporting under trade policy uncertainty: Theory and evidence (Kyle Handley – 2014)
Communication services applied to business: A simple algorithm for personal trading (F. Benedetto – 2013)
Binary Options: Strategies for Directional and Volatility Trading ( Alex Nekritin – 2009)
Online Brokerage: Transforming Markets from Professional to Retail Trading (Christof Weinhardt – 2000)
Electronic trading for principal/broker trading ( Andrew C. Gilbert, Andrew Stergiopoulos, William P. Tselepis – 2013)
The Internet and the Law (Benedict Dugan, Bob Dugan – 2002)
A Web-based financial trading system (Ming Fan – 1999)
A reputation and trust management broker framework for Web applications (Kwei-Jay Lin – 2005)
Trusted services broker for web page fine-grained security labeling (Gary L. Luckenbaugh, Forrest E. Stoakes – 2001)
A case study in developing Web services for capital markets (F. A. Rabhi – 2004)
Share dealing on the web: a comprehensive review of design specifications across the globe (Robert Hudson, , Kevin Keasey, Kevin Littler – 2000)
Web-enabled transformation of the brokerage industry ( Clayton A. Looney – 2002)
Volatility, Returns and Liquidity: The Relation Between Online Trading and Stock Market Behavior (Xuemin (Sterling) Yan and Stephen P. Ferris – 2004)
Disorderly Conduct: Day Traders and the Ideology of Fair and Orderly Markets (Caroline Bradley – 2000)
The relationship between futures trading activity and exchange rate volatility, revisited (Vivek Bhargavaa, D.K. Malhotra – 2007)
Latest posts by John Miller (see all)
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