IQ Option review

Company Profile

Headquarters		IQ Option LLC, Hinds Building, Kingstown, St. Vincent and the Grenadines
Founded Year		2013
Product Offered		Binary Option Contract, CFD
Supported Currencies		ZAR,USD, EUR, GBP
Deposit Methods		Mastercard, Visa, Capitec, FNB, ABSA, Nedbank, Advcash, Perfect Money, Neteller, Skrill etc.
Minimum Deposit		10$
Withdrawals Methods		Webmoney WMZ, Advcash USD, Neteller, Visa/MasterCard, Skrill,  Perfect Money, Capitec, ABSA, FNB etc.
Minimum Withdrawal		2$
Minimum Trade		1$
Leverage		Leverage may change depending on market conditions
Account types		Demo, Trading, VIP
Mobile trading		Yes. For IoS and Android
Islamic Account		Yes
Affiliate program		Yes
Customer Support		24/7 by live chat, e-mail or telephone

What is IQ Option?

IQ Option is a broker that has been providing access to online trading through a dedicated platform since 2013. To date, more than 50 million trader accounts have been registered in countries around the world. To successfully complete transactions for the purchase and sale of financial assets, it is necessary not only to correctly select financial instruments, but also to prepare from the technical side of the process. Investors and traders should be able to quickly and easily find the required asset, get information on it and make a deal without unnecessary clicks. In this IQ Option review, you will learn how to work on the broker's platform and what features it offers. And also you will have the opportunity to try a free demo account absolutely free.

Awards 

The company appeared in 2013 and today is one of the leaders in its field thanks to a unique technological platform of its own design.

The broker has repeatedly received prestigious European awards as the most innovative and dynamic company in the binary trading and CFD segment.

The broker received the "Best Trading Platform" award at the Forex Awards exhibition. At the 2017 Communicator Awards, hosted by the Academy of Visual and Interactive Arts, IQ Option was recognized as the best app in the Finance category. This is not a complete list of awards, we are sure that it will be replenished.

Regulation and Licensing 

IQ Option LLC is registered in Saint Vincent and the Grenadines and the broker is allowed to provide services through iqoption.com. There are no restrictions for a broker to provide services in the local legislation of South Africa. Based on the foregoing, the Company is permitted to provide services to residents of South Africa via the Internet. All legal information can be found in the terms and conditions section.

How does IQ Options work?

The main trading instrument that the broker offers to its clients are CFDs. A contract for difference (CFD) is a derivative financial instrument that fully corresponds to the value of a real asset, but at the same time, the buyer does not have ownership rights, only the right to receive profit (or loss) from changes in quotations.

Assets

Trading CFD means that you choose the underlying asset. On the platform you will find more than 300 different trading instruments, choose at your discretion. Perhaps you are good at analyzing the price movement of stocks or forex pairs, or you want to experiment with different assets. You will definitely find something for yourself. Financial products offered are popular among traders because of their availability.

Binary Options

The essence of binary options is that you choose the underlying asset among those offered. Then delete the forecast if its value will increase or decrease after a certain period of time and open a deal for the amount you need from $1. The percentage of profit on binary options is usually 75% -95% of the transaction amount. If your prediction is correct by the time the trade expires, you get $1 back and your profit. Binary options trading is popular because of its simplicity. Everyone will be able to trade with this tool.

It's simple, which is why traders love this tool so much. You can try it in action for free, register and test it!

Digital Options 

The key difference between digital option trading from classic binary options is that the trader himself chooses the price at which the option will be bought. This is the so-called strike price. The number of strikes available to you will depend on the scale of the quotes chart and the market conditions of the asset you are trading.

Another good news is that digital options have higher returns than binary options. The maximum profit in this instrument will be increased to 900%.

Commodities 

Trading in commodities allows the investor to diversify the portfolio, because these instruments are not associated with either the stock or currency markets. A commodity is a variety of raw materials, minerals, food products. The most liquid assets are oil and precious metals. On the platform, you can buy and sell CFDs on Brent and WTI crude oil, as well as gold.

ETFs

The broker offers to trade 23 funds. This is an index fund, the shares of which are traded on the stock exchange. The ETF structure usually follows the structure of the selected underlying index. Unlike an index mutual fund, with ETF shares you can perform all the transactions that are available for ordinary shares in exchange trading.

Stocks 

The most extensive section of assets is the shares of global companies. A total of 188 stocks today - Amazon, Tesla, Adidas, United Airlines Holdings, Netflix, Heineken and others. Choose any and open the first deal today! Use a demo account to test the platform for free.

Forex 

A classic and volatile tool that is familiar to every trader is currency pairs. Forex trading is one of the very first that appeared in the exchange world and does not lose its relevance. Choose from 31 currency pairs (EUR USD, GBP USD and others) and make your prediction!

Cryptocurrencies

A new and profitable instrument, also fell in love with many investors due to its trendiness, volatility and novelty. 19 of the most popular coins are in the list of assets. Choose from Bitcoin, Ethereum, Tether, Litecoin, Ripple, etc.

Multiplier 

To use the cryptocurrency multiplier, select a currency from the list of available trading instruments at the top of the screen. Then, before opening a trade, select the multiplier on the right panel that you want to apply. Its value will depend on the specific asset selected. Also, the higher the multiplier, the larger the position you can control (but also the potential loss).

Indices

There are 12 indices on the platform for traders. You can buy CFDs on US 500, US 2000, JP 225, Au 200, Ger 30 and more. The stock index is an indicator that reflects the state and average dynamics of the stock market. This is a kind of virtual portfolio in which the assets of the largest companies with high liquidity and capitalization can be collected, or, on the contrary, the assets of only small and medium-sized companies - it all depends on the goals of the index.

Trading

To use the above financial instruments and start demo or live trading, you need to know a few more things.

Registration in South Africa

First, the first thing you need to do is to register on the site. You can do it for free, follow the link to the official form, fill it out and start dating. Registration itself does not oblige you to make transactions, test the platform, see the interface and functions. However, if you are serious, most likely you will be satisfied and stay with the broker for a long time.

Registration is standard:

• Enter your First and Last name, e-mail, password and country of residence.
• Verify your account through the link sent to your email.
• The system will automatically redirect you to the web platform, where you can try trading and familiarize yourself with the user friendly interface.

Accounts

The broker offers 2 account types within one account. After registration, 2 accounts are automatically opened for you: Demo and real.

Demo

A demo account is an analogue of a real account, only with virtual money in the amount of $10,000. To register a training account, there is no need to upload documents or verify your identity. With it, you can buy and sell shares of any other assets, build strategies, analyze the market, test technical  indicators, etc. The difference from the real one is that you will not be able to withdraw profits, but also lose your money too. This account is used by both beginners for learning and experienced traders to hone new strategies.

Try free trading with a demo account. Get $10,000 to your account after registration and trade without risk!

Standard

You can open an account for trading, making a deposit of at least 10 dollars. With such a deposit amount, you will avoid the high level of risk. This account will allow you to trade on the platform and earn real profits from trades. You can switch from demo to real account at any time. To do this, click on the amount on your account in the upper right corner of the platform and change the account type with one click.

VIP 

VIP account allows traders to have a personal manager who will be on hand to resolve any issues. In addition, the trader will have priority when withdrawing funds. Full conditions for obtaining VIP status can be obtained from technical support at the time of registration. As a rule, the main condition is to replenish the account for a certain amount and make a certain trading turnover.

Verification 

In most cases, those support asks traders to pass Identity verification. This simple procedure protects the entire platform system and traders in particular from fraud.This includes address verification and bank card verification (if you deposit by credit cards)To verify your identity, you need to download:

• Scan your passport or driver's license. The document must have a clearly visible photo, signature, expiration date.
• Scan of a document that confirms the actual address of residence. It can be a bank statement, utility bill.

Trading platform 

Broker IQ Option has developed a universal trading platform that allows you to:

• Choose the necessary trading instrument.
• Choose and set the location of charts on the screen.
• Select the type of graph displayed on the monitor screen.
• Set the time range of the price candle.
• Use various graphic tools.
• Upload indicators, templates and widgets to the chart.
• Contact the broker's customer service at any time of the day.
• From your personal account you can make a withdrawal request.
• Participate in discussions in the traders chat, etc.

Today there are several types of trading platforms.

PC 

Software installed on the computer. The new version of the trading terminal from IQ Option can be downloaded from the official website of the broker. The application for PC is the fastest and most functional platform of all presented.

Mobile 

Mobile versions of the trading platform for Android and iOS devices. You can download the mobile trading app on the broker's website or in Google Play and the App Store.

Web 

Web platform. You can use it on your computer in any browser. To launch the platform, you need to enter your personal account and click the “Trade” button. In the web version of the platform, you can also download a free application for PC.

Features 

The platform offers a really wide range of analytical and trading tools, and it is comfortable to conduct transactions. Here is a nice interface, not overloaded with unnecessary information or advertising. Everything you need is at hand. Here are the main features you will see.

Charts

Choose a schedule from 4 available. These are classic diagrams that are easy to understand even if you are not familiar with them. However, not every broker gives such a choice: Lines, Bars, Candlestick chart and Heiken-Ashi.

Timeframes

For all charts except for the linear one, such a convenient setting as the timeframe is available. A wide range is available from 5 seconds to 1 month. Timeframe or trading period is a time scale for displaying stock quotes. What is the best timeframe to trade? Depending on the goals of the trader, the timeframe period can be chosen completely different. For example, when scalping, trading is carried out on the shortest timeframes, since the movement that the scalper takes into account is minimal.

Graphic tools 

Graphical analysis tools of the classic format - geometric shapes, rays, lines, drawing tools on the chart. There are lines on the platform: trend, simple, vertical, horizontal and Fibonacci lines.

Indicators 

More than 90 indicators will become available to you after registration. This is really a great choice and the most demanding trader will be able to find the right indicator for himself. Among them are Bollinger Bands, RSI, Stochastic Oscillator and others. You can use one indicator, you can use several at once, to build a strategy.

Orders 

Available for you:

• Market orders - executed immediately with the buy or sell buttons.
• Limit or pending order - to execute a transaction at a certain cost in the future.
• Limiting Stop-Loss and Take Profit - protect against risks, allowing you to keep profit or prevent losses when an unfavorable forecast is fulfilled.
• A trailing stop is a stop loss order trailing the price (which is why it is sometimes called a trailing stop). This is a kind of script embedded in the trading terminal. It simply moves the price at which the position will be closed, following the price that is moving in your direction. This is done in order to limit your losses in case the price reverses and goes into a loss.

Analysis and alerts 

In order not to miss trading opportunities, you can use price alerts. If the price reaches the level you set, you will be automatically notified. This will allow you to respond to the market situation in a timely manner. You can configure them in the Alert section on the left panel of the working platform.

Risk management 

Risk management is a key concept that all novice traders should understand and apply. Risk management rules will help you avoid this and make your trading journey more productive. You can also find more information about the general risk warning in the terms and conditions.

One way or another, all of the above tools are part of risk management and allow you not only to open deals, but to conduct a qualitative analysis before that. In addition, learn the rules of money management and follow simple rules: don't invest money you're not prepared to lose. Some traders converge on 2% of their trading capital per trade. Why? Because, in their opinion, 2% is enough for stable trading, while also providing enough flexibility not to burn out during the inevitable series of failures. But the choice is always yours.

Trading community 

Join the trading communities that IQ Option brings together. You can exchange experiences and communicate with traders online via chat and social networks. It is really useful to exchange experience and be in a trading environment of like-minded people. This is how you learn and grow as a professional.

Deposit and Withdrawal

To make a deposit or withdraw funds from your account, you must:

• In your personal account, select the appropriate request: deposit or withdrawal.
• Select a desired payment solution for the transaction.
• Indicate the amount and details (for a card, this is the card data, for an electronic wallet, this is an e-mail).
• If everything is correct, click continue and follow the instructions.

Receipt of money to the account is usually carried out instantly, a request for withdrawal of funds takes 1-3 business days. You can track the status of your withdrawal request in the Transaction History section.

Fees

When you work with a financial institution, you need to be aware of possible fees and commissions and when they are charged. Knowing this will allow you to reduce the amount of commissions you pay or avoid them altogether.

Deposit 

The broker may apply a currency conversion fee of 1% per transaction (i.e. deposits and withdrawals) when converting from or to your trading account currency and payment processing currency.

Withdrawal 

The client has the opportunity to withdraw funds free of charge 1 time per calendar month. However, the payment methods you have chosen may incur fees. This will be displayed during the checkout process.

Trading 

The Company reserves the right to charge a "swap fees" in the amount of 0.01% to 0.5% and in exceptional cases up to 1.7% of the nominal value of the position for the transfer of the position to the next day.

Inactivity 

From the inactive trader's account on the 90th calendar day is charged collection. The broker tries to maintain and keep correspondence with each trader and undertakes to notify him by e-mail if his account turns out to be inactive. The exact amount of the Inactivity fee can be obtained from technical support at the time of the request. As a rule it is 10 Euro.

Account closure 

The broker has the right to charge a fee of 20 USD for closing an account if it was determined that the client has not reached the age of majority in country of which he is a citizen or resident.

Bonuses and promotions

In addition to trading instruments and transactions, the broker offers periodic promotions, bonuses (for example, for the first deposit) and conducts other events. You won't miss them if you follow the announcements and news.

Tournaments 

Today, the company has a variety of tournaments in its arsenal. IQ Option tournaments - the opportunity to participate in competitions with various conditions. The threshold for participation in this case is only two dollars, and the prize fund can reach 50 thousand dollars. Participation conditions are usually simple and related to trading.

Affiliate Program

In addition to active trading, there are several ways to make money on forex and binary options. One of them is that you act as a partner of a broker and, with the help of your personal link, attract traders. For each registration or click on your link, you receive income. A separate site is dedicated to detailed conditions. Participate and discover new opportunities for yourself.

Customer Support

One of the most convenient ways to contact the IQ Option broker is a round-the-clock online chat with the support team, which allows you to resolve any issue as quickly as possible. The main advantage of the chat is how quickly IQ Option gives you feedback, it takes about 2 minutes to get a response. If you don't need a quick response to your question, just send an email to support@iqoption.com.

Contact Details 

IQ Option LLC Registration No. 905 LLC 2021

Address: Hinds Building, Kingstown, St. Vincent and the Grenadines

+254203894272 Kenya (Nairobi) - English line

Complaints 

The main objective complaints are related to the rather long verification process, which can take several days in some cases. This should be treated with understanding, since all data is processed literally manually.

Pros and Cons 

Pros		Cons
Availability to a wide range of investors		The need for verification. Rather, this is not a minus, but a feature that takes time, but in the end protects you.
Entry threshold is $10		Limited number of options, only up and down.
Demo account for $10,000 with the possibility of renewal
No brokerage commissions
Entering the international market even with a small capital
Broker on the market since 2013
Video tutorials
Minimum investment amount 1$
Possibility of technical and fundamental analysis
You do not need to be a professional in the financial market
Support service is very prompt
Availability of orders limiting risks

Alternatives to IQ Options

In the financial services market, in particular in trading, there are many brokers providing their services and demo accounts. We also offer you a list of those who can be trusted. Some forex brokers have been on the market for quite a long time, some have opened recently, but have already managed to show their good side. Choose among trusted brokers: Olymp Trade, Binomo, Quotex, Exnova, Expert Option, Pocket Option.

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