IQ Option is an international broker that facilitates online trading in forex, cryptocurrencies, indices, stocks, and ETFs. It has been providing trading services for 10 years.
Let’s take a closer look at:
- IQ Option’s strengths and weaknesses;
- Trading conditions;
- Available assets;
- Platform functionality;
- Account types;
- Withdrawal and Investment;
- And more.
IQ Option: trading with a human face
IQ Option focuses on simplicity and accessibility: any trader should easily understand the interface without reading manuals or having trading experience. To do this, the broker attracts experienced IT specialists, designers and analysts, invests in the research & development, and security of the podium.
Pros & Cons
Minimum deposit: low minimum deposit of €50 and a minimum investment of $1.
Customizable trading platform, that feels much simpler compared to classic MT4/MT5.
Trading conditions: fair trading conditions, no hidden fees or commissions.
Wide choice of assets, including popular stocks and rare finds like crypto assets.
Demo account: commitment-free demo trading to test strategies.
Technical indicators: 100+ technical indicators and useful widgets.
Restrictions: platform’s unavailability in certain countries.
Trading conditions
Leverage limits on the opening of a position by a retail client from 30:1 to 2:1, which varied according to the volatility of the underlying:
- 30:1 for currency pairs;
- 20:1 for commodities;
- 1:5 for stocks and ETF;
- 1:2 for cryptocurrencies.
Assets
IQ Option has over 300 assets on the menu, including popular Forex pairs, cryptos, stocks, commodities, ETFs. If you seek smart portfolio diversification, you’ll find all you need here.
Another interesting instrument that you can find at IQ Option is crypto asset. They are just like standard assets, but for cryptocurrencies. As for 2022, you can trade CFD crypto assets on Bitcoin, Ethereum, EOS, Litecoin, and Ripple.
Trading platform
The IQ Option stands out in many ways, which has brought it several prestigious awards. First off, the trading interface is custom-made to wrap vast trading functionality into a simple interface. Secondly, it’s cross-platform and has Windows, macOS, Android, iOS, and Web versions.
The platform allows traders to do all the actions right from the chart. Thanks to easy navigation, all the tools, widgets, and important controls are always at hand.
Finally, the platform is customizable: you can change the chart layout and type, apply technical indicators that you need, and add widgets to make better trading decisions.
How to open an IQ Option account?
You can open an IQ Option account in a few clicks for free, either with a standard or social sign-up (Facebook/Google). To register a mobile account, install a mobile app and complete a quick registration process. It’s similar to the desktop experience: enter your email address, create a password, and choose your country. Alternatively, use the social sign-up feature.
IQ Option offers easy deposits via popular payment methods starting from only €50, which makes it easy to start even if you don’t have much money to invest.
Demo trading
Upon registration, you’ll have access to the Practice account charged with 10,000 virtual dollars. It’s recommended to start on Demo if you have little or no experience in trading and want to test drive a new trading instrument or strategy before going with the actual money.
The demo balance is replenishable and doesn’t have an expiration date: you can top up anytime if you lose your money. Once you’re ready to trade on the real market, just switch to the Real balance in the upper right corner of the Trade room.
Withdrawals
Before withdrawing your profit, you need to complete the account verification: input your identity documents, address, and preferred to withdraw/investment method. It’s important that you use your real name and credentials!
After completing the verification, you can make a withdrawal request from the Withdrawal section of the Traderoom. You can cash out any amount starting from $2 or an equivalent in your account currency.
One thing you should keep in mind is that the deposit and withdrawal method should be the same for credit/debit card deposits. If you invest with your debit/credit card, you should use the same card for making withdrawals. However, for making a withdrawal of profits excess of your investment, you can choose any available e-wallets.
Mobile app
The IQ Broker mobile app is available for all iOS and Android devices. It ranks #21 in App Store Finance category and won several awards. This app is available to download from Apple’s App Store and Google’s Play Store.
The app is glitch-free even when you’re handling multiple trades at a time. It duplicates the desktop functionality and allows users to use the same login for both.
Aside from the standard iOS and Android apps, other alternatives are as follows: Progressive web app (PWA) and APK (Android Package Kit). They work like ‘normal’ apps, but you can download them as files directly on your mobile device, skipping the app store. These solutions help overcome stores’ restrictions on online trading.
Trading education
Before you dive into real trading, make sure you learn how the platform works and how investing is made. In this platform, you can access video tutorials in 17 languages, trading blogs, market analysis, news, educational channels on YouTube and Vimeo, FAQ section, and webinars. All educational materials are free.
Is IQ Option legit?
IQ Option has done a great job in making complex investment tools easy to comprehend and available for everyone. The platform is uncluttered and has a clear menu with the most-needed controls. You can use it on different devices and start on Demo before you invest real money. The only downside is that there are not many account options aside from Demo and Real Standard.
IQ Option Europe Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC). License â„–247/14. Address: Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus.
