IQ Option: In-Depth Review
IQ Option is a binary options broker and is highly rated as one of the most advanced and reliable brokers in the binary options trading world. IQ Option is not only new but also has a unique trading platform which has been developed by the engineers at IQ Option itself. Binary option trading is quite complicated and requires a highly skilled broker to carry out trades quickly and safely. IQ Option is one broker which has been immensely popular among traders for its uniqueness and simplicity at the same time.
IQ Option is Cypriot binary options broker and is owned by a holding company called Investlab Trading Ltd. It is being managed by Infofield Premier League and is a binary options broker serving people from Russia. It was established recently in 2013 and has garnered many loyal clients since then mainly because of the transparent and technologically advanced trading experience which it provides. It is regulated by Cyprus Securities Exchange Commission (CySEC) under license number 247/14.
The clients of IQ Options are eligible to earn as much as 92-93% returns on investment within a few seconds. Not only does IQ Option provide high rate of return it also lets investors participate in various contests and win money as much as $250-$500. They also provide mobile trading for iOS and Android users; this means none of the traders have to miss opportunities. A person can trade wherever he finds it convenient as the computer based website does not require any software installation.
In this review we will take you through the proprietary trading platform which an investor gets to use, we will also let you know about trading contracts and trading accounts which are available on IQ Option. You will also get to know about the customer service department and the overall advantages and disadvantages of IQ Option.
Trading platform acts as the base for any trading company, with a proper trading platform completing a successful trade is not possible. IQ Option deserves kudos for developing a solid trading platform which has all the features and tools to make it the one of the best amongst other trading platforms. Most of the binary options brokers use trading platforms like Tradologic, Tech Financials and SpotOption, but IQ Option has spent hours to develop a proprietary trading platform. This trading platform is known for the simplicity and advancement which it serves to the clients. Here are the features of this trading platform:
- It is the number one trading platform in over 20 countries which include France, Russia, Japan and many others.
- The asset selection is done through a tab system which is positioned on top of the price chart.
- At the right side corner of the trading platform a trader will find the action buttons for the kind of options (Call/Put) which he wants to purchase.
- Traders are allowed to choose predefined investment amount such as $10, $20, $50 and $80.
- On the left side of the screen, traders will see the navigation buttons and here they can access the trading contract which they want to make.
- Personal section which includes banking transaction and customer support is located on the left hand side as well.
- The platform is available in major languages like English, Spanish, Russian, Portuguese, Arabic, Chinese, and Indonesian.
- One of the most unique features which a trader will get to enjoy with IQ Option is that he can make several trades on the same chart. This is quite helpful when strategies like “fence” are used as it easily shows the purchases against high/low of an underlying asset.
These were the main features of IQ Option’s trading platform. These features make trading fluent and easy.
Starting up with IQ Option
There are two ways to begin trading with IQ Option; the first way is by starting a demo account where a trader can start demo trading without investing any money or by simply starting up with real trading which involves real time trading. Here is how one can start trading with IQ Option with some simple steps:
- The first way is by opening a demo account. If a person is new in the binary options world then he/she must get his/her hands clear with regards to trading and its various concepts. Demo account provided by IQ Option is not like what one gets from other websites. It lets a trader access all the features of a normal trading account without having to invest any sum of money. Once a person eases with the basics of trading then he can proceed with real trading.
- The second way involves main trading or real trading. Here a person simply needs to enter his email address, credit card details, a paltry sum of $10 and phone number. After signing up with all these details one can begin with real trading right away.
These are the two ways of trading with IQ Option.
Trading contracts include the trade options which one wants to deal in. Here a person will have to determine the direction of trade prices of an asset after the end of the expiry term of that particular asset. It varies with expiry terms and asset types. IQ Option has kept traders with little experience in mind and has made only one type of trade contract available. This trade contract includes:
- Classic High/Low: Classic high or low is the most common and easy type of trade contract to understand and execute. In this type of trading contract a person will have to determine whether the prices of a commodity will go up or down or above or below the predetermined strike price after the end of the expiry term of that particular asset.
Currently, classic high/low is the only type of contract available, but IQ Option is surely going to increase the trade types in the coming few days.
Trading Accounts offered by IQ Option
It can be said that IQ Option gives limited access to trading accounts as they offer only two types of trading accounts but this has been done keeping the trade types in mind. Users do not have to juggle too much when it comes to trading accounts and can keep their trade simple and uncomplicated. The two types of trading accounts which users can access are normal trading account and VIP trading account. Bonuses vary as per users’ willingness to deposit money. The minimum deposit required to begin trading is $10 but if somebody wants to get a bonus of at least 20% then a deposit of $100 is required.
IQ Option has given multiple ways to manage i.e. deposit or withdraw funds. A trader will not have to rely on those fraud apps to risk their money in. Money can be deposited or withdrawn through various sources like:
- Bank Wire Transfer
- Credit deposit by phone
- Credit card
- Multi Banco
- Web Money
- Yandex money
With these many options to deposit and withdraw money, it becomes very easy to manage funds and trade on IQ Option.
Payout Ratio and Asset Index
Talking about payout ratio, well, IQ Option gives a very good return on investment as compared to other binary brokers. There is only one type of trade contract available, but even after that a trader can expect a payout ratio of 92-93% on successful trades.
The asset index is quite benevolent too, considering the fact that only high/low binaries are allowed to trade in. An investor can choose to trade in over 76 underlying assets which are categorized under commodities, indices, stocks and currencies.
The customer service department is quite generous as well; a trader will never have to face difficulty with IQ Option as the helpful executives from the customer service department are always available to sort out problems and queries. Even though IQ Option wants a Russian clientele base, but still they have made efforts to make their department available in 4 other major languages. One can contact them through various sources which include:
- Live chats
- Phone calls
Their email address is firstname.lastname@example.org
Here are the major pros of IQ Option:
- Proprietary trading platform to meet the needs of traders
- High returns on investment
- Low deposit amount
- Multilingual customer support
- Trading contests
- High bonuses
There are a few cons of IQ Option as well, let us review them as well.
Here are a couple of drawbacks:
- Limited contract types
- Limited accounts to choose
- New broker in the market
If somebody wants to invest little, then IQ Option is surely a good choice. There is a demo account as well for new traders to get settled with trading. The only weak point is that there is limit for choice when it comes to contract and accounts. We hope that they will come up with more facilities and features in the future and make trading even better.