This is a complete updated IQ Option Review for 2019, the binary options and CFD brokerage firm that recently introduced a downloadable trading client into the prediction options market for binary trading. IQ Option Europe Ltd. is registered at Cyprus, and is regulated by CySEC. IQ Option Ltd. is registered at Seychelles, this entity is not regulated. IQ Option was established in 2013
IQ Option Review
Presently, IQ Option offers the trading of classical options for several assets as follows:
⦁ Forex (including all major currency pairs)
⦁ Exchange Traded Funds (ETFs)
The IQ Option brand features three types of trading platforms:
How does each of these platforms work?
Unlike most binary options platforms on the market today, IQ Option offers a downloadable version of its platform for Mac and Windows users. Majority of turnkey platforms do not work on the Mac OS. This is a problem that has been solved by the IQ Option proprietary platform.
The IQ Option Webtrader is the browser-based platform that has been configured to deliver performance on different web browsers such as Mozilla, Google Chrome, and Opera. Browser-based platforms are the industry standard and can be accessed using a URL on any internet-connected computer.
⦁ IQ Option App
A mobile app that can be downloaded from the Google Play store is the trading app for users of Android smartphones and tablets. There is also a version for iOS users that can be downloaded from the App store.
Risk Warning: Your capital may be at risk.
IQ Option features an extensive asset index. Assets are pooled from the following asset classes:
⦁ Cryptocurrencies (Bitcoin, Ethereum, Dash and ten other cryptocurrencies).
⦁ Stocks (US, UK, and European stocks)
⦁ Exchange Traded Funds (ETFs).
Two types of trading accounts are provided for traders at IQ Option. These are:
⦁ Basic account
⦁ VIP account.
The Basic account is for deposits of less than $3,000 while the VIP account is for traders who can afford to start off their trading careers on IQ Option with more than $3000.
Bonuses and Promotions
IQ Option no longer offers a bonus for your account. However, traders located outside of the EU have access to specific trading contests:
⦁ Go Hard: Total prize pool of $48,912.
⦁ Off the charts has more than $164,000 in its prize pool.
⦁ $22,000 is up for grabs in Perfect Insight
⦁ There is a total of $10,550 in prizes for the Salary in a Day contest.
⦁ IQ Launch features a contest prize pool of $25,000.
⦁ The Winner Takes it All, gives out $500 in prizes.
The following benefits are only available to holders of the VIP account with IQ Option:
⦁ Trades attract higher payouts.
⦁ There are more trading tournaments and contests provided for their participation (for account holders located outside of the EU).
⦁ There is greater access to research and technical analyses.
⦁ There is one-on-one support from a dedicated account officer.
Deposits and Withdrawals
IQ Option maintains a multi-currency platform which permits deposits and withdrawals in four currencies via wire transfer: US Dollars, Russian Roubles, British Pounds, or Euros. Any base currency chosen for deposits cannot be changed once the account is active.
⦁ Bank cards and credit cards: Bank cards issued by VISA and MasterCard are accepted on IQ Option. Visa Electron is also allowed. The bank account card option is not globally accessible. For users who cannot use bank cards on IQ Option, any of the other options will work perfectly.
⦁ The bank wire option is the slowest means of transaction but has the greatest global acceptability. Any user willing to wait for between 2-7 days business days for withdrawals to be processed can use this option. Wire transfers are only available for withdrawals if you made a deposit with your Bank’s Card.
⦁ E-payments such as those provided by Skrill, Neteller, and WebMoney can be used to deposit and withdraw funds on IQ Option.
10 units of currency are the minimum deposit limit, while users can withdraw a maximum of 1 million currency units per transaction. All withdrawals are subject to completion of verification procedures.
New account currencies (2019 Update)
IQ Option traders can now open an account in three new currencies: the Philippine Peso, Thai Baht, and also the South African Rand. Here’s the minimum deposit in each currency for reference.
New cannabis assets can now be traded plus 6 stocks and 1 ETF (2019 Update)
Losses may sometimes be less than 100% of the investment for out-the-money options.
1 hour expiration time is now added
Ability to close the deal before the time end and get some of your investment back.
×20 multiplier for stock CFDs For non-EU residents
Customer support on IQ Option features the following languages: English, Hindi, French, Urdu, Mandarin, Portuguese, German Thai, Spanish, Turkish and Russian. Traders can communicate with IQ Option using:
⦁ Phone: 44 20 3318 7173 (for international users)
⦁ Live chat
⦁ Email: ⦁ [email protected]
⦁ Social media pages on Facebook (⦁ facebook.com/iqoptioncom) and Twitter (⦁ twitter.com/⦁ iqoption).
Here is a sneak peek at the unique features that are available on IQ Option for online trading.
⦁ A greatly diversified asset base that features ETFs and cryptocurrencies is one of the best in the industry.
⦁ IQ Option features charts that are quite interactive. There is also a multiple display feature.
⦁ A free demo account which can be used for a long time without expiring is provided to new traders with a live account.
⦁ There are expiry times for all types of traders: short-term expirations for day traders and long-term expirations (up to a month) for long-term traders.
⦁ A section on trading education is provided so that newcomers to binary options can get a quick idea of what prediction options trading is all about.
⦁ The IQ Option blog is an excellent information resource on how to trade each asset class with binary options.
The broker rating provided here attempts to rate the performance of IQ Option on specific performance indices which affect the experience of its clients when trading binary options. These metrics are on withdrawals, customer support and quality of its trading platform.
Most users are happy with the increased profitability on a number of assets. This, therefore, is assigned a score of 9/10. When it comes to the quality of the software, IQ Option’s software is rated at 8/10. This is because there are very little downtimes and the software interface makes it easy to trade. Customer support does not score too well because of several reported delays in responding to customer complaints. A score of 6/10 is provided. The final metric, which is on the fulfillment of withdrawal requests, score a very dismal 3/10.
Risk Warning: Your capital may be at risk. Forex trading requires technical analysis and has a high level of risk and can result in the loss of funds. When trading digital options on the options trading platform, we recommend discussing with your account manager how to best use the stop loss and video tutorials as well as available financial instruments in order to start trading safely. Do not invest money with any recommended brokers into a real account without understanding the risks.
What are the advantages and disadvantages of trading with IQ Option?
⦁ User-friendly broker with several features that make the trading process smooth.
⦁ The asset base is highly diversified. As one industry expert put it, “there is always a bull market somewhere.” If a forex asset does not work for you, you can always try other asset types on IQ Option.
⦁ The downloadable platform is a pioneering product in the binary options industry where browser-based platforms have always been the norm.
⦁ Customer support is multi-lingual, which affords different users the opportunity to talk to the company in their specific languages.
⦁ The demo account facility offers a rare chance to practice various prediction option types with different expiry times.
⦁ Low minimum of $10 to open a live account. Never invest more than you can afford to lose.
Despite these positive features, there are a few negatives to the IQ Option product offering and shortfalls in service delivery.
A Must Read:- IQ Option Trading – The Good, The Bad and The Secrets of IQ Option.
- The prediction options types on IQ Option are limited and do not provide much variance for customers.
- Limited expiry times, IQ Option trading platform does not offer the most used 60-second trades or the 5-minute trades.
This has been a technical, neutral review of IQ Option. The aim of the review is to point out precisely what a user will get when using IQ Option. This review was written out of the writer’s real-life experiences trading with the IQ Option platform in 2019 with a real money account. The essence is for those who want to trade IQ Option to use this information and make an informed decision on whether to trade with this broker or not. Therefore, you the user are the one to conclude this piece.