IQ Option Review – Is Trading On IQOption Really Profitable?
Our IQ Option Review will give you brutally honest feedback regarding this old, legit, trustworthy binary broker. Moreover, the platform is well-designed. According to the market review, the broker is one of the most transparent, reliable, and resourceful entities.
Anyone from any corner of the globe can use this platform to trade.
Undoubtedly, IQ Option is one of the fastest-growing online trading brands in the world. They started their business as a fully formed binary options broker. But now, they offer a variety of trading classes along with options trading.
So, let’s dig the hole more intensely to get an unobstructed view.
This material is not intended for viewers from EEA countries. Binary options are not promoted or sold to retail EEA traders.
IQ Option Review – What Is IQ Option?
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
IQ Option is an award-winning trading platform that offers multiple trading classes, including forex, stocks, crypto, etc. Both CFDs and options trading are available on numerous trading instruments. So, you have considerable wings to make money.
With a clear objective, they have been serving the financial industry since 2013 as a registered platform.
The broker has the ultimate goal of delivering the most accurate, fast, and user-friendly trading platform. On the other hand, the smooth and trouble-free platform helps the broker get an immense number of registered traders every day. And day by day, it’s increasing.
And you could be one of them!
Start trading is possible by depositing a small amount, like $10.
Or you can start with a demo account. However, a demo account is a sensible choice for traders to understand the broker’s side.
Why IQ Option?
You pick a broker after analyzing many essential factors. And not only you, but a sensible trader also does the same. While researching, our team found some unique notes that make this broker outstanding.
The first thing is that by using their platform, you can trade the most volatile asset classes like Forex, stock, and Exchange-Traded Funds (ETFs). And also a brand-new product called Digital Options.
This section will give some reasons, providing an obvious notion of choosing IQ Option as your broker.
These are –
- Reliable and trusted broker
- Minimum deposit $10
- Minimum investment $1
- Demo Account
- The maximum payout 100%
- Multiple trading types
- Manage your profit and loss limits
- Enriched learning center
- Online trading Tournaments
- Mobile trading
- Personal manager for VIP traders
- A wide range of withdrawal methods
- Minimal withdrawal $2
- 300+ trading instruments
- 24/7 customer service
Awards & Achievements
Not a single factor attracts traders to trade on this trusted broker’s platform. As we have already mentioned, traders accept this broker for several reasons. And their achievement is one of these.
Since 2014, they have achieved a number of recognition awards in various sectors.
We mentioned a few here:
- 2017 Award of Excellence
- Forex Award 2014 “Best Trading Platform”
- Century International Quality Gold ERA award
- The Web Marketing Association Awards for “Best Technology Application”
IQ Option Sign Up and Sign In / Login Process
The sign-up process is straightforward. But before opening an account with IQ Option, we recommend our traders read the terms and conditions carefully. It is a required task for traders.
Check the steps below to open an account.
- IQ Option Sign-Up
To sign up with IQ Option, you must fill out the form or use social accounts like Facebook and Google. But to fill out the form, operate accordingly.
- Select the country
- Enter your valid email address
- Set the password
- Tick the box if you agree with the terms and conditions
- Click “open an account for free”
Now, you will have access to the dashboard with a demo account. Or you can fund the account with a minimum amount of $10.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
- IQ Option Login
Whether you can use your social platform credentials or can use a valid registered email to log into the platform, as the social platform, IQ Option allows Facebook and Google accounts.
- For Indonesia & Vietnam Trader
The overall process is the same as we mentioned earlier. Every Indonesian trader can legally earn money from binary options trading.
Moreover, if you follow the Islamic faith and would like to feel safe while trading forex with IQ Option, you can open an Islamic account. This will enable you to have special conditions for trading.
How To Complete Account Verification?
Each trader has to go through an account verification process if he or she wants to withdraw profits. Documents should be valid when requested by the company.
Whether you can complete the entire process at the time of opening an account or can finish later.
- The very first step is email confirmation. The team will send you a code via email. Enter this code in the relevant field.
- Then confirm your phone number with a specific country code. Enter the SMS code in the relevant field.
- Verify your personal data
- Input information regarding your trading experience and strategies.
- Lastly, upload and submit the required documents to finish the process
The broker provides the fastest possible verification. But sometimes, it takes a longer time, at least 48 hours. Besides, here is the list of documents that they will ask you to upload:
- Valid proof of identity
IQ Option Demo Account
When entering the trading market, it is better to have some knowledge of the market. IQ Option offers a Demo Account that is worth $10,000. The demo account is entirely free and refillable. So, traders can top up if it is lower than $10,000.
Moreover, switching to a real account is also possible if one deposits the initial amount. One can hardly differentiate a demo account from a real one. However, you won’t be able to see the entire trading instrument list in the practice account.
Traders can also practice their trading strategies on a demo account to help them uncover the best strategies. It will also help you to apply your trading knowledge with no risk.
Therefore, it helps a trader be prepared and confident to place a trade himself. Besides, it ensures a higher success rate.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Account types
Along with the demo account, traders can choose more options or accounts. They offer three types of accounts. These are –
- Real Account
- VIP Account
- Islamic Account
Each account type has some distinctive and notable features. We will describe it below.
- IQ Option Real Account:
The real account requires a minimum deposit of $10. It is the standard account with a lot more lucrative features. That means any trader can open this account.
Besides, traders will get weekly webinars and access to the web brokers’ trading tournaments.
The significant findings are:
- Best for beginners
- Weekly webinars
- Copy trading
- Demo account
- IQ Option VIP Account:
To get VIP status, you need to fund a certain amount of money that differs from the regular deposit amount. The amount varies from country to country. Additionally, sometimes it depends on the payment method.
Moreover, VIP traders will get special privileges from the IQ Option team.
Apart from these, traders will get
- A high return percentage
- Personal account manager
- Special conditions for tournaments
- Training materials prepared by experts
All these features attract mostly professionals to grab VIP status.
- IQ Option Islamic Account:
Traders who are of the Muslim faith can enjoy swap-free deals with IQ Option. IQ Option offers an Islamic account with lifetime access for only $200.
You will get the following:
- Swap-free deal
- No overnight fees
- Instant order execution
- Dedicated account manager
- Free demo account
Apart from these mentioned features, you will get a lot more benefits with an Islamic account. So, trade is a halal way.
IQ Option Mobile Trading App
IQ Option lets you trade with a wide range of instruments. Over approximately 300 assets are available in various trading classes. So, traders can execute trades using a mobile device and a web platform.
Moreover, traders can download the trading application on mobile and desktop devices. Apps are available for both Android and iOS.
Now, it’s your time to discover thousands of investment opportunities with the IQ Option trading app.
~ Trading App - Mobile:
A mobile platform is beneficial for traders. Especially in the mobile device, apart from all other tabs available for browsers, a trader will find asset price movement separately.
It allows you to perform trade from anywhere you want. Definitely, a mobile app is convenient to use. But unfortunately, there are also some limitations.
On the other hand, IQ Option offers a progressive web app (PWA). It doesn’t require the user to visit an app store or download any files locally. Instead, PWAs can be installed by clicking the “Add to home screen” button in any browser.
Moreover, you don’t need to download the IQ Option app to your desktop and mobile device. Those traders who use the iOS application can use this app to perform binary options trading. To know the advantages of the PWA application, read this blog post.
~ Trading App - Desktop:
Traders can download the IQ Option trading application for desktop. The IQ Option platform works fast for Windows and Mac OS desktop devices.
Moreover, your desktop needs to support OpenGL configuration for maximizing the computer’s video card resources.
If a version of the app is not available for your device, you can still trade using the IQ Option website.
Trading Assets
IQ Option is working with a particular trading type named Binary Options at the very beginning. Day by day, they have improved a lot and added more variation for trader’s benefits.
Now, the platform offers an expanded version of trading types like Options (Binary, Digital) and CFDs on currency pairs, stocks, ETFs, indices and cryptocurrencies. With each class, you will get over 300 trading assets.
Please note that the leverage ratio will also vary based on the trading region.
As alternatives are huge, you can pick according to your preference.
#Stocks:
Traders can buy and trade a wide variety of stocks. Stock trading consists of nearly 188 instruments. Moreover, you will get up to 1:20 leverage to trade the stock exchange market.
However, the minimum investment is $1. Note that the multiplier is for those traders who seek more profit from the highly volatile market.
At the same time you should keep in mind the associated risks.
#Options Trading:
Options trading is not under any asset class. It is a trading form for short-term traders. Among all brokers, IQ Option is one of the best brokers for options trading.
On the other hand, you can trade options on a wide range of trading instruments. A fixed payout ratio is applicable, approximately 90% or more in case of a correct prediction. However, it depends on the trading instrument.
#Forex:
We all know that Forex is the world’s largest and most liquid market. Besides, in the currency market, volatility remains high. In IQ Option, there are 31 currency pairs available. At the same time, IQ Option provides leverage of 1:500.
Surprisingly, the minimum investment is as low as $1.
#Cryptocurrency:
You can trade top cryptocurrencies using the IQ Option platform. There are 19 cryptocurrencies available on the trading platform.
Considering its growing interest, bitcoin’s leverage is 1:100.
#ETFs:
Traders can diversify their trading portfolio with exchange-traded securities that track indexes, commodities, and baskets of assets.
There are 23 ETFs available. Moreover, the ETFs leverage is 1:20.
On the other hand, ETFs allow investors to buy on margin, sell short, and purchase as little as a single share.
#Indices & Commodities:
There are 3 commodities available in the trading platform as per their website information—the leverage ratio up to 1:50
Unfortunately. they have had zero indices in their list for a while.
Best IQ Option Strategy and Analysis
Trading with a proper strategy will help traders earn a higher return. On the IQ Option platform, you build popular trading strategies using candlestick and bar patterns.
Even the indicators will help you to build profitable strategies.
Not all patterns work equally well, so we recommend practicing trading via a demo platform.
Furthermore, we have a comprehensive (detailed) guide on IQ Option Best Strategy For Winning Trades that explains how you can use chart types, indicators, lines, and tips – tricks to analyze your trades.
IQ Option Trading Platform Overview:
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
You are welcome to the trade room. The trading dashboard is ornamented with multiple features and tools.
On the left side of the platform, traders will find a trading portfolio with all active positions and pending orders.
You can see your open and closed positions at a glance by clicking the history tab.
On both demo and real accounts, traders have access to customer support, where they can ask for any assistance. Note that you can only get live chat support if you open an account.
Social chats are also for particular asset traders to share their trading information socially. It helps them to know the market condition. However, they restrict participation in the social chat group for demo traders.
On the other hand, the leaderboard section will show you the list of top traders worldwide. But the transaction amount will count only for a live account. Moreover, the market analysis tab will show you all the current trading market news.
Not only those mentioned features, but you also will find information on top assets, trading tournaments, video tutorials, and FAQs.
In the latest version, you can draw any graphical tool over technical indicators, trend lines, or even Fibonacci over MACD. On the right side, you will find the account option to switch your account whenever you want.
Lastly, set your expiration time for trading options and a specific amount you would like to invest. For CFD trading, select the correct multiplier, amount, and stop-loss.
Trading Indicators
Indicators are the key to analyze the market. The broker allows you to use multiple indicators. Not all indicators are possible to display here, though we have mentioned a few.
These are:
- MA
- Bollinger Bands
- Alligator
- RSI
- MACD
- Parabolic SAR
- ATR
- ADX
- Fractal
- CCI
- KDJ
- DPO
- Stochastic Oscillator
- Awsome Oscillator
- Ichimoku Cloud
- Belkhayate Timing
- Momentum
- Williams’ %R
Technical indicators are useful for quicker market analysis. Set the indicator according to your choice and apply it.
You can save your indicators to apply them to any chart in the future. Traders often use sentiment analysis that shows the current market mood or the ratio of selected assets.
A trader can set the time frame, which will show the high and low value of assets. It is possible to see traders from other countries who are placing an order in real-time. The volume will show an interest in the trading asset.
Trading Charts
On the IQ Option trading platform, traders will find four types of trading charts. You can set the colour from the display settings.
These are:
- Line
- Candles
- Bars
- Heikin-Ashi
Time interval starts from 5 seconds to a month. Traders will get a price range depending on the time interval. This time interval applies to Candlesticks and bars.
Graphical Tools For IQ Option Platform
Graphical tools are mainly useful for trend analysis. By using these tools, you can draw and mark lines on the chart.
There are 5 types of Graphical tools available in the IQ Option trading platform. These are:
- Line
- Trend Line
- Horizontal Line
- Vertical Line
- Fibonacci Line
Tournaments
A tournament is a competition between traders where everyone can take part. It is an opportunity where traders can test their trading skills against other traders.
It requires a small amount of fee to take part in a tournament. However, it’s not fixed. It will depend on how big the tournament is. The entry fee starts at $2.
The re-buy option applies to some selected tournaments where you can reload your account balance with actual money. If you win the competition, they will automatically credit the prize money to your account balance.
Traders will find news on all open and upcoming tournaments in their tournament window.
Withdrawal and Deposit
IQ Option provides a wide range of deposit and withdrawal options based on your country. Even the minimum deposit amount is subject to change based on the funding method.
However, the minimum deposit amount is $10. And the same goes for withdrawal options.
Let’s dig into the next step.
- IQ Option Deposit:
IQ Option offers zero charges while depositing money.
One can deposit money using Visa, Master Card, Bank Wire, Perfect Money, AdvCash, Neteller, Skrill, Astro Pay card, Maestro, or Web Money.
Eventually, the fund will show up in your trading balance instantly after depositing the amount.
It is impossible to change the currency once you have made the payment. Select the currency carefully before proceeding with the payment.
Besides, you can make your payment through Bitcoin. It will convert fiat currency into your real account. The option of depositing via PayPal is not available on their website.
- IQ Option Withdrawal:
The minimum withdrawal amount starts from $2; however, the maximum withdrawal amount is $1,000,000. If you want to withdraw less than $2, you need to contact IQ Option’s customer support.
You can withdraw up to $1,000,000 per day. However, the number of withdrawal requests is not limited.
As per their rules, traders will be changed with a 2% withdrawal fee starting from the 2nd withdrawal per month”. The commission is equal for all withdrawal methods.
They need a verified account to make a withdrawal request. Approximately, it takes 3 business days to withdraw the money.
To know why traders can’t withdraw their profits, read this article carefully.
- How to Deposit and Withdraw with a Local Bank: South African Republic:
How to Deposit:
- Select your deposited amount with the preferred local bank. You will find the complete list on the website.
- Select the currency type.
- “Go to payment.”
- After redirecting to the payment gateway, input your necessary information to log in.
- Verify your login with the OTP code.
How to Withdraw:
- Choose your local bank from the list and input the amount.
- Click the “withdraw funds” button.
- You will successfully send your withdrawal amount.
- How to make a deposit with your Local Bank in Thailand, Indonesia, Malaysia, Vietnam:
How to Deposit:
- Choose the amount and preferred local banks from the IQ Option website.
- Click the “Go to payment” button.
- After redirecting to the payment gateway, input your necessary information to log in.
- Verified your login with OTP code.
You can read a detailed guide on IQ Option Withdrawal And Deposit Method, which explains how you can deposit and withdraw through various methods for various countries, including withdrawal proof and problems in IQ Option.
Contact And Customer Support
The help and support team of IQ Option is very proactive, cordial, and available 24/7.
Over 79 dedicated customer support members are available to help traders. We have asked several questions through the live chat and got an immediate response, which was impressive.
Such a quick response is necessary for a new trader so he can resolve his problem.
Besides, for any query, a trader can send an e-mail, and the reply will be back within the mentioned timeframe.
You can also find them on social media like Facebook, Telegram, Twitter, YouTube, and Instagram. Traders will get all updated news from these sources.
Traders can also communicate via contact number. On their website, you will find all the numbers depending on which country you belong to.
Advantages - IQ Option
So, what are the core benefits of using this fantastic broker? You will get many brokers who offer much more lucrative features, but why IQ Option?
Apart from this, the following bullets are also noticeable:
- Intuitive platform
- Unlimited demo account
- Dedicated customer support
- Hassel-free withdrawal
- Vast trading education
- No scam report
Cons
We could not find any significant drawbacks regarding their platform and operation—several people in forums have made claims about the IQ Option multiplier.
IQ Option multiplier is not the same for all countries.
Another drawback that we count as a minor is that traders can not contact their support team through live chat without sign-in on the platform.
Is IQ Option Scam or Not
We hardly found a few objections regarding this broker during our research, but those are not major. We have got complaints about the withdrawal process.
Due to the lack of proper knowledge, many traders ignore to read the withdrawal terms and conditions. So, it badly affects at the last moment when they sent the withdrawal request.
Moreover, IQ Option uses powerful encryption technology to protect the client’s data. They secure the data via Transport Layer Security during the transmission from client devices to the broker server.
Also, they have created a proprietary trading platform to avoid unwanted situations. Moreover, appropriate client management helps them to build trust among all traders.
After all, they achieved awards for their tremendous effort in the trading marketplace.
Final Words
In the end, we are pleased that IQ Option is very caring for the new traders and offers many promotions and services for them.
We also admire them for providing a demo account with unlimited funds.
IQ option’s prosperous education sector will help new traders to know about trading strategies, indicators, tools, etc.
So, start trading with IQ Option to win a maximum profit by investing a minimum amount.
