IQ Option Trading has been a huge part of my life (and livelihood) over the last two years, but it hasn’t always been easy. I’ve made a ton of mistakes and also had a lot of wild celebrations after a good trading week. Those ups and downs that come with trading often feel like a bipolar mind trip, but that’s an emotion that most IQ Option traders probably share in common!
IQ Option Trading platform has been through several significant changes in the past year, which shook up a lot of people’s trading routines and experiences. I decided to write a complete guide for anyone out there that has had any issues with IQ Option. This is NOT an article bashing IQ Option but rather a guide that highlights my favorite things as well as some things I believe they need to change.
I am sending this review to the IQ Option management so PLEASE post your own trading experiences in the comments section so they can see it! I’ll be updating this post when they make changes!
To start, I want to explain the best parts of IQ Option trading platform, and then I’ll explain the parts I don’t like as much. Towards the bottom of this review, I’m going to expose some secrets of IQ Option that have made an enormous difference in my personal experience!
The Good Stuff Of IQ Option
- User-Friendly Design
IQ Option has one of the best user interfaces available on the market. The platform is well structured to please the traders.
- Built-in indicators
The IQ Option’s trading platform has a lot of indicators which allow traders to install their favorite technical analysis indicators without depending on a 3rd party provider. This results in a better trading experience.
- Market Analysis
If you log in to your IQ Option account, you will find a Market Analysis & news section on the left side. I love this option to keep up with the updates of all currencies and Market Volatility.
- Multiple deposit methods
When it comes to deposits, IQ Option eats the competition. Whether your favorite deposit is, they got you covered. Like, Visa/MasterCard/Skrill/Neteller and Webmoney, even Bitcoin.
- Buying Cryptocurrencies with Your Bank’s Card.
This is one of the best things I love about IQ Option. They let you buy cryptocurrencies with your Debit Card or your Credit Card. I personally never saw any broker offer this as an option.
- Fast Withdrawals
When it comes to Withdrawals, IQ Option is very fast. They process your withdrawal within 48-72 hours max. It could take up to 7 days with other brokers.
- Customer Support
The customer support is super friendly, and they respond very quickly. Usually 5-10 minutes up to 2 hours tops.
- Tournaments & Competition
That’s something I absolutely love. You get to compete with other traders in a trading tournament (available for clients that live outside the EU). I always join the tournaments whenever I feel like it, but I never won anything 🙂
- Online Discussion Community
When you trade Binary Options, Forex or cryptocurrencies with IQ Option, you may feel lonely and want to talk to someone. You will find a chat and dialog icon on the left side, talk with other traders in real time and express your thoughts on the market with others. Just make sure you don’t give any investment advice, or they will close your account.
The Bad Stuff Of IQ Option Trading
- Limited Expiry Times
IQ Option used to offer a several selected period of expiry times, like 1m,2m,3m,4m and 5-minute trades, especially their famous turbo 60-second expiry. They recently took that option off and the time can no longer be selected. This is one of the big disadvantages of my personal experience.
- Server Issues
To be quite honest, They need to add a few more servers in Asia & the Middle East for faster and smoother trading for people who live in these continents.
- Not Fast On 3g
IQ Option APP has two versions, IOS and Android; We received several complaints from users that the app is not fast on 3g and doesn’t execute orders quickly or connect properly. 4g speeds are not everywhere 🙂
Risk Warning: Your capital may be at risk.
- Bandwidth Consuming
This is also a big issue, IQ Option trading APP, consumes a lot of bandwidth. People who live in India and Pakistan, for example, they suffer the most from bandwidth consumption. What they make from trading, will be spent on purchasing Mobile Internet Data 🙂
- Heavy Application
Their trading application needs to improve. Apart from rare crashes that happen, the app is not very smooth even though I am using Samsung S8 Plus. I would say the graphics need to be decreased from the mobile app.
Is IQ Option Cheating?
Note: This is not intended for bashing, damaging or attacking the brand of IQOption.com
There have been a lot of fake complaints about IQ Option lately, and most of these allegations are primarily bluffs and make no sense. Bloggers who write “Scam Reviews” are nothing but internet marketers and they don’t understand anything about trading or even traded before with IQ Option. With that being said, I will highlight all the problems and secrets that I found on the platform.
- Improper Countdown To Expiration
If you trade on the IQ Option Platform, I am sure you have noticed something. For example, if you take a CALL trade and there are 10 seconds left, and the trade seems to be going ITM (winning) you sometimes find that by the time the trade reaches 1 second, the platform delays your trade for an additional 2-3 seconds. This can result in a loss for you if the chart falls below your trade.
IQ Option offers a way to check the price at which the deal is closed in the Historical quotes to make sure that everything is correct
- Slipping The Price
One of the tricks that many unregulated brokers use against their traders is price manipulation. Price manipulation involves the act of changing the price AFTER the trade has closed in order to force the trade to lose.
In reality, there are times when the trade price (order) is changing so quickly, that when you close the trade it will not execute it at the current price due to many factors, including your own internet speed and times of high volatility and low liquidy. When the market is moving hot and fast, slippage is more likely to occur.
IQ Option is very clear in their terms and conditions that slippage is inevitable depending on the factors that make it more likely to occur. This is a legal practice which conforms to regulations.
Many traders complain about slippage, but slippage is a normal and expected part of trading binary options and can’t be avoided.
In case you don’t know what the term “Slippage” means, if you try to take a call trade and click on the call button, they suddenly execute the trade at a higher price so that you will enter the market with a higher price than what you see on the platform. For example, you want to buy AUD/USD while the buy price is 1.21216 on the chart. You click on the Call button, and you enter, but when you check your entry price, you will see that it is higher than what you saw on the chart. For example, you will see it executed at 1.31220.
- Requoting The Trend
This is another trick being practiced during the trends when the Market Volatility is high. When the price of the AUD/USD, for example, is moving up sharply and fast, and you choose the right direction to enter the market (you click on the CALL button). IQ Option delays your trade execution for a few seconds, and then instead of executing the trade at the price you wanted, they execute it at a higher than the price you have chosen.
“Requoting is different than Slippage”. Requoting only occurs when the market is trending and the broker may intentionally or unintentionally delay you from entering the market.
- Sell Option Glitch or..?
Something that really annoys me, when I try to sell my trade position because I think it won’t win, the mouse cursor disappears as soon as I open the Sell Option box. It might be a glitch I don’t know. But this happened to me a lot.
Summary In 66 Words
Let’s be clear. IQ Option is indeed a good broker. This article was not meant to criticize them but just written in the hopes that I might be able to help someone else as well as bring some of these issues to the attention of the IQ Option team. If you want a reliable trading experience with fast withdrawals, I highly recommend starting with IQ Option.
Please share and comment on this post with your trading experience on the IQ Option Trading Platform! Thanks!