One of the key reasons why IQ Option has managed to grow so fast in such a short span of time is due to the fact that it has been able to offer its traders new and exciting products. In addition, the broker uses a proprietary trading platform that is unlike any platform that you will find in the online trading industry. Regulated by CySEC, IQ Option offers a safe and secured trading environment for traders to carry out their online trading activities.
General information
IQ Option is a leading online broker that was founded in mid 2013. Despite only being operational for just a few short years, IQ Option has established a reputation for being one of the fastest growing online brokerage firms in the online trading industry. The broker is said to have 25 million active account holders currently and that number is constantly increasing on a daily basis. IQ Option specializes in offering online trading services for financial instruments: Options, Forex, ETF.
Pros and Cons
Pros:
MiFID Compliant Broker: IQ Option is a regulated Cyprus Investment Firm (CIF) under the jurisdiction of CySEC. This means that the broker has met all the stipulations under the MiFID.
Proprietary Trading Platform: With its proprietary trading platform, IQ Option is better positioned to respond to the needs of its traders as the broker has more control over the direction of how the platform is developed.
Flexible Account opening requirement: The minimum deposit requirement to open a live trading account at IQ Option is just 10 USD/GBP/EUR. Trades can be executed with an investment as low as $1.
Demo Account Available: IQ Option has also provided a demo account for anyone who wants to try out its trading platform first without having to deposit any real money. The demo account features everything that you will find in a live trading account except for the fact that you will be trading with virtual cash instead of real money. Apart from testing out the trading platform, you can also use the demo account to develop your trading skills.
Trading Tournaments: IQ Option regularly conduct trading tournaments with a low entry fee and modest cash prizes, This approach by the broker has helped it to build up a loyal base of customers that are attracted towards the trading competition as well as the thrill of winning prizes.
Cons:
Only One Standard Type Of Trading Account: Currently, IQ Option only offers one type of trading account, a one size fits all approach to trading.
Limited Educational Resources: The educational materials found on the IQ Option website comprise just of trading videos.
IQ Option Trading Conditions
In terms of trading conditions, IQ Option offers one of the best trading conditions in the online trading industry. Apart from having a very low minimum deposit requirement of just $10, the broker is also a regulated broker under CySEC. This means your funds are safe with this broker as they are kept in segregated accounts, separate from the broker’s own operational funds. In addition under CySEC regulatory requirements, the broker must maintain sufficient liquidity at all times to meet its contractual requirements.
This goes a long way to explain why IQ Option is rated the highest payout trading broker in the financial trading industry. In 2017 alone, the broker average $10 million in withdrawal payouts every month.
As a CySEC regulated broker, your funds are covered under the Investor Compensation Scheme up to a maximum of 20,000 euros.
Tradable assets
For underlying assets, IQ Options offers 7 different asset classes. They comprise of currency pairs, commodities, cryptocurrencies, ETF, market indices, Options and shares. In total, IQ Option has 364 different types of financial instruments for you to trade with. These include:
Cryptocurrencies: There are 15 types of Cryptos to trade, which include Bitcoin, Ethereum and Litecoin etc.
Stocks: Stocks include many of the best performing companies listed on the NYSE and NASDAQ. 168 in total to trade.
Options: Options allows you trade Binary, digital and FX options. Please note that binary and digital options are only available for professional clients though.
Forex: Forex allows you to us 30x leverage on 93 forex pairs, across majors, minors and exotics.
Indices: With indices you may trade 11 top US, European, Asian and Australian stock markets with Dow Jones, S&P, FTSE among others.
Commodities: Allows you trade 6 commodities including gold, oil, natural gas as CFD’s
ETF’s: With ETF’s use up to x5 leverage for trading exchange-traded securities that track 21 indexes, commodities, and baskets of assets.
Trading Platform
While most online trading brokers prefer to use third party solutions for their trading platform, IQ Option prefer to go on a different route. The broker has instead developed their own trading platform that is equal to none in the industry. In fact, the trading platform developed by IQ Option has won several awards for being the most innovative as well as being extremely user friendly.
The trading platform developed by IQ Option is available for both windows based PCs or Mac computers. IQ Option has also developed mobile optimized version of their trading platform for traders who wants to trade the markets using just their smartphones. The mobile trading app is available for download at Apple App Store or Google Playstore depending on the OS of your smartphone.
Types of Trading Accounts
IQ Option has two types of accounts on offer. They are the standard account and the demo account. Both these types of trading accounts require you to fill out a registration form before you can access them. For the former, you are also required to verify your identity and address before you will be able to make a deposit or withdrawal. Nevertheless, converting a demo account to a live trading account is a very simple process as all that is required is to deposit some real money.
IQ Option has also made it easy for anyone to sign for a trading account with them. Apart from filling out the registration form, you can also sign in to the IQ Option’s website by using your facebook account or Google Plus account.
Deposits and Withdrawals
IQ Option has support for several payment methods. You can deposit or withdraw funds using the following methods listed below: Bank Wire Transfer, Boleto, CashU, Credit Card, Fasapay, iDeal, Neteller, Qiwi, Skrill, WebMoney.
Previously, it took 3 to 4 business days to make a withdrawal. But now, IQ Option has shortened the withdrawal processing time to just one day and there are no hidden charges for making a withdrawal.
Traders Education
In terms of traders education, IQ Option has provided a whole suite of training videos. There are dozens of videos listed in the video section covering topics such as “What is CFD?” to how to use technical indicators for making trades.
Customer Support
Customer support at IQ Option is available 24/7. You can contact the support team through email, web contact form, Live chat or by calling them direct on the telephone. For telephone support, localized support numbers are provided for many countries across the globe.
Conclusion
The services and product offering by IQ Option has ensured that a online trader has everything that he needs at his fingertips. With the provision of the free demo account and low deposit requirement, IQ Option has demonstrated its commitments towards making the lives of a trader stress free. Before IQ Option came along, financial trading plaforms did not provide any free demo platform. In fact the demo account is only accessible after a trader has signed and made a deposit into his trading account. However this is not the case with IQ Option. This broker has made things easy for anyone to sign with them. The broker is confident that the quality of its services is more than sufficient to win the hearts and minds of its traders.