One of the hardest things to do when it comes to trading binary options is to pick a site to trade them on. There are literally hundreds of choices out there depending on wjaphere you live. That is why we take our job of doing reviews so seriously because we know you don’t have the time to go through and look at all these sites to trade on yourself. Today we will take a look at an innovative and progressive binary options broker called ‘IQ Option’.
IQ Option first came onto the scene in 2012 and has gained a steady amount of investors since then. When we checked online we found the site gets very favorable reviews and is generally well thought of by those that have traded with them. The site definitely caught our attention when we discovered how much those that traded with them highly regarded this web broker. Here is our review of what we feel is a very well done and worthy site to trade binary options on.
We will walk you through everything from the signup to the site right on through to placing trades and customer support.
Using IQ Option on Mobile
Since its launch in 2013, IQ Option has been at the forefront of developing innovative technologies in the binary options trading industry. It was the first Russian broker in the sector, and the team behind it used their expertise to create new and effective features that make the platform easier to use. In the world of binary options trading, that means giving traders features that help them more effectively analyze the market, generate more accurate signals, and place profitable trades. One of the most popular of these technical innovations is IQ Option’s mobile app.
The IQ Option mobile app is one of the best mobile apps from any binary options broker. It is extremely user-friendly. This is, in fact, one of the app’s biggest selling points, as many of the other apps available in the industry are difficult to use. In fact, with most apps, you have to be an experienced trader who has a deep understanding of the intricacies of the market and the technical jargon used. Not the IQ Option app though. It is powerful, so it is suitable for experienced traders; but it is also jargon free and easy to use, so it is suitable for those new to binary options trading too.
The app simplifies the process of trading binary options, and many traders prefer using it over the desktop website.
It has a comprehensive range of features, so you can do everything you need to successfully trade binary options. The features include the ability to analyze the price of assets so you can generate signals and make predictions that will enable you to place profitable trades. All the graphs are easy to read and have an incredible level of detail, particularly when you pinch the screen to zoom in. Placing a trade takes a couple of simple taps.
It has a modern interface, and everything loads fast. In terms of look and feel – as well as functionality – the IQ Option’s app is a lot like a sports betting app. If you have used one of those, you will quickly get the hang of the IQ Option app. Just like in sports betting, it is all about making an accurate forecast. There is risk involved too— you will lose your money when your predictions are wrong.
The app is secure, so your money and personal data are safe. It also offers good notifications, so you can get involved in tournaments and check price trends as they are happening.
The landing page for signing up to the site is very straightforward and easy to understand and that was echoed in the actual signup process to access the website. We just had to fill out a simple form, verify our identity by providing some information and then make a deposit to gain access to use the broker for placing binary options trades. IQ Option was very similar to other web brokers we have signed up with and we found it a very simple process to get done.
Right off the bat we were amazed that all it took was a low minimum deposit of $10 USD or British Pounds to get started trading. That is just about the lowest deposit we have ever seen to enter into trading with a web broker; that type of dollar amount really lets anyone who wants to trade binary options do it despite their income level. We invested a little more than that because we wanted to see how well their worked but so far we were not turned off at all by the signup process and were looking forward to seeing what else they did right with their brokerage website.
Video on How to Trade on IQ Option
Types of accounts
IQ Option likes to keep it simple and treat everyone fairly no matter how much they invest so there are only two different account levels on the website Here is what each has to offer:
IQ Option Real Account
Over 70 assets
Full access to trading opportunities
Participation in trading competitions
Fast withdrawals in just 3 days
Real money trading
Start with a $10 deposit
IQ Option VIP account
Over 70 assets
Full access to trading opportunities
Participation in trading competitions
Faster withdrawals in just 24 hours
Real money trading
Monthly analysis of your trading with our analysts
VIP access with deposit from $3,000
Account and Banking Options at IQ Option
IQ Option offers a number of different accounts that you can sign up for. Which one you chose depends on your objectives and the amount of money you want to allocate to binary options trading.
Most people start with the Real Account. It has a very low minimum deposit of $10, making it viable for any type of trader, including beginners. Your account will give you access to over 70 assets that you can place trades on. All trading features are included with this account, so you can make substantial profits if you make the correct price predictions.
Another account offered by IQ Option is the VIP Account. It has a $3,000 minimum deposit, but it comes with additional benefits. This includes a personal account manager who will help you make the most of your account and maximize the potential of your trading strategies. A VIP Account also gives you the chance to get up to 60 percent of the amount you invested if you make the wrong prediction.
A number of options are available for depositing money into your account. These include:
- Credit card – MasterCard and Visa Card
- Cash U
- Wire transfer
The low minimum deposit of $10 that IQ Option offers is flexible, but it doesn’t mean you should stick to this low amount. It is always best to base your strategy on what is happening in the market and your current financial position.
it is a good idea to keep your deposits and trades low when you are just starting out as a binary options trader. Everyone has to go through a learning curve, and that will mean some losses. It is much easier to deal with small losses than large ones when you are a beginner.
Withdrawing Funds from IQ Option
When you start making money at IQ Option, you will eventually want to withdraw some of those funds to spend or invest how you chose. Luckily the withdrawal process at IQ Option is simple and safe. To protect traders’ money, all withdrawal requests have to be approved by the IQ Option team. This means withdrawals don’t take place immediately, but there are no unnecessary delays.
You can withdraw money using a number of different methods:
- Credit card – Visa Card and MasterCard
- Maestro Card
- Bank transfer
- Cash U
Before you make your first withdrawal you will have to confirm your identity with IQ Option. This is to help protect the platform against fraud and to keep it compliant with money laundering legislation. Your personal account manager or a member of the customer support team can guide you through the process. To process a withdrawal, you have to specify the amount, payment method, and currency.
The length of time your withdrawal takes depends on the type of account you have. VIP Account holders can expect their withdrawal requests to be processed in less than a day. Real Account holders may wait up to three business days. The minimum amount you can withdraw is $10, and the maximum is $1 million.
Customer support was very helpful and very good at resolving issues but we had some problems with the way the customer service was handled. There is no phone or live chat option for customer service and we were more than a little surprised by this. It meant there was no way to get an answer to a question or concern in what would be a timely manner.
Of course you are assigned an account manager that can help you with any issues or concerns you have while using the site but they are not available 24/7 so at those times you may end up waiting for a response. We feel that IQ Option is ok here but there is definitely room for improvement.
Is IQ Option a Scam
IQ Option is based in Russia but has many satisfied customers all over the world, including in Europe, China, America, and many other countries. In fact, it is one of the most respected binary options brokers available. It has not earned that reputation easily. It has done it through innovation and by offering a trading platform that gives traders – even those new to binary options trading – everything they need to execute profitable trades and learn more about developing successful trading strategies.
This sort of innovation and development of the platform requires investment and commitment. IQ Option has been rewarded for this investment and commitment, as it has received many awards. These awards validate their position in the market and are an indicator of the quality of the platform. The awards include the most innovative binary options trading platform in 2013 because of the tools it offers to traders. The following year it was also recognized as being the safest and securest binary options trading platform on the market, as it has received no complaints or reports regarding spam.
Our investigations have discovered that IQ Option operates strict policies regarding payments, and they have robust rules around protecting personal data and ensuring your money is safe. This includes using European banks.
In addition, IQ Option is licensed by CySEC, which offers added assurance to traders.
This is the type of site that traders from the USA and Japan would be thrilled to place trades on but unfortunately the citizens of those countries cannot trade on IQ Option; that is something that the site’s management may want to work on in the future.
There is simply a whole lot to like about the IQ Option broker. Their very low minimum deposit offers entry in to the binary option marketplace for just about anyone. Knowing they are regulated by CySEC means it is a fair and reputable site that can be trusted and it also gives their account holders peace of mind that there funds are processed and retained in a European Union based bank account.
We also liked very much their innovative and forward thinking learning tools. It is very unique that their highly helpful demo account acts as a stand-alone account instead of being part of the regular trading platform; this enables the tech team at IQ Option to put features into the demo that make it more closely resemble the actual trading on the real website. The interactive learning tools will help you get ahead of the learning curve faster than more traditional learning tools also.
It is really easy to see why IQ Option became so popular so fast. We loved that they were courageous and innovative enough to build their own web platform for their many users to trade on. We also give high marks to any site that is confident enough in their business practices to allow regulation.
They back everything up with outstanding customer support and the high marks that get on reviews like this show their commitment to help those that trade with them be successful and leave them with a positive trading experience. Simply put, we give this binary option broker a big thumbs up and would recommend any trader of any knowledge level to give them a try. You surely won’t be disappointed if you do.
To indicate IQ Option won us over and impressed us a whole lot would be making a big understatement to say the least.
Open a Free Account by Clicking the Green Button Below
When you deposit more than $200, you’ll get extra rewards, but with $1000 you’ll get massive benefits!
Get also a VIP access with a deposit of at least $3,000, and with the highest deposit amounts you’ll also be rewarded with extra benefits on each deposit.