IQ Option Review
Digital transformation has set courses for online trading possibilities along with conventional methods now. Dealing in foreign exchange, stocks and crypto have never been more accessible from the comfort of your home through professional online brokers. Regarding all your funds being dealt with and monitored, IQ Option is a leading binary broker that can easily accommodate your trading needs.
IQ Option is an acclaimed online trading platform that has held its position as an award-winning service making its mark among a wide demographic of traders globally. Launched in 2013, IQ Option has spread its wings enough to house more than 40 Million loyal members and still expanding. With regularly updated products and expert-driven consultancy and trading strategies, you are bound to have an ultimate experience.
Without having a carefully thought-out contingency plan and an experienced trading platform, stock trading and other online investments can lead you into a whirlwind of losing money rapidly. This can essentially put you at a big financial risk. It is deemed essential to select a well-reputed online brokerage to gain traction and possible trading success in this aspect.
To help our readers gain insight into the provisions and constraints of IQ Option, we have compiled a comprehensive guide regarding all its particulars. The main objective of this whole review is to provide an optimum technical analysis of this online service. Through that, the customers can gain complete knowledge about the possibilities and make a conscious decision to get on this platform for their trading endeavors.
|Asia Forex Mentor Evaluation Criteria|
Covering all aspects including metrics and proficiency, Asia Forex Mentor Evaluation Criteria is an expert-based evaluation examining various online trading platforms from different angles. As professionals at AFM, we ensure to provide logical and unbiased reviews of the platforms through a thorough survey. Through meticulous techniques, our teams perform an all-over inspection based on the basic criteria listed below.
Conduction a thorough survey of the IQ Option platform through feedback, tests, and investigations led us to the conclusion that this is an authentic service worth appraisal because of its impactful and user-oriented system. Loyal IQ Option clients and customer reviews verify that this service offers the best available trading tools on the online market.
From the provision of a demo account to their low trading fees and commissions, it helps users earn considerable profits with a margin on their investments. With a standard trading account offered through this service, users can start with a minimum deposit and withdraw money whenever they see fit. Except for a few flaws on the technical grounds, the customers seem content with the service IQ Option provides as a modern online trading platform.
What is IQ Option?
Providing fast-acting and organized services to investors and traders alike, the IQ Option platform is a well-recognized worldwide online brokerage. Serving its users for a decade, this online trading platform has gained the trust and credibility of Millions through its all-inclusive structure and modern features. It’s succeeded to build its name among the top-tier traders in the financial market.
IQ Option deals with offering its customers reliable trading possibilities in asset and currency-based options such as Stocks, traditional Forex trading, ETFs, Cryptocurrencies, commodities, digital options, and other binary options and securities. With their latest expansion, they also allow trading CFDs on the prior mentioned financial instruments. Discussing usage, users that are new to the trading world can help themselves with this platform’s free demo account through an easy account verification process with a minimum deposit of $10 to get themselves started.
Apart from this, there are some withdrawal and transferring fees required which are clearly mentioned with no hidden charges which certify the website’s credibility. With a range of expiry periods depending on the kind of assets you might be trading offered through this service, the user can decide how long they want to hold that particular trading position. With the mobile trading app supporting Android and IOS, you can trade with the IQ option without time restraints.
Speaking of advanced trading tools and features, the IQ Option platform offers technical indicators, widgets, charting tools, and an economic calendar. Its risk disclosure option for a general risk warning with respect to ongoing trading about the trading instruments is lauded by various financial experts. This intuitive trading platform is a high-demand yet convenient option for novice as well as seasoned traders.
IQ Option is a binary options broker which comes under the regulation of CySEC (Cyprus Securities and Exchange Commission) making it legit and reliable in its niche. Processing over 1 Million transactions per day, this is one of the fastest-growing online trading platforms. Medium to long-term asset trading strategies is preferred to gain more success.
With various account options and other major trading edges, we have to admit that are certain expert-level technical facilities that are not available through this trading platform. However, along with being expensive, beginner-level traders might face struggles with other online brokers as most of them do not offer a free demo account. Overall, IQ Option’s platform is an instant-access-based, customizable service with convenient payouts and reliability.
Advantages and Disadvantages of Trading with IQ Option
Benefits of Trading with IQ Option
IQ Option offers various trading favors, including leading software and convenience. Any investor or trader can make use of this platform to trade in various assets and binary options. Because of being in the economic market for a decade, this platform has earned its spot as a commendable option for novice traders as well as experienced. The IQ Option support team and social media team makes sure to provide its clients with 24/7 access and consultancy service.
With multiple account options, it’s easy to get ahold of all the premium services of this trading platform. Its customizable user interface from keyboards shortcuts to the dashboard can be set according to client preference along with access to different trading strategies to optimize their success. IQ option eliminates the hassle of sifting through and screening out numerous online trading options because of its secure and transparent system.
The graph analysis of this platform through charting tools is highly practical apart from being a bit limited. Unlike other competitors in the market, it is also cost-effective in comparison with little to no fees and tight spreads. If you want to open a long-cryptocurrency position, a commission fee of only 2.9% will be charged which is less than that offered by other online brokers. Moreover, you can start your trading journey by making a demo account with a deposit of as low as $10, making it highly cost-effective.
With specific accounts, users can also utilize the training materials prepared by our experts, where you learn to use tools such as technical analysis indicators and how to choose assets to trade or invest in. Also, clients can benefit from the personal account manager who is a market professional which gives consultancy to improve trade profitability.
This platform is well-equipped and provides a complete cryptocurrency trading experience to investors with short selling. This allows traders to quickly profit from the market movement and help them gain more control over their trades. This is one of the few online services that offer Web Desktop, IOS, and Android apps. With the help of the IQ option mobile app, you can gain take part and overview trading at any given time.
Through Visa Card, Master Card, and perfect money, users can benefit from easy withdrawals and deposit options making it highly suitable for on-the-go traders. With variable order options, users can establish a dynamic stop loss which gives the position holder the to increase or decrease according to favorable price. This service is known to advantage maximum users by curtailing risk factors for a successful trading strategy and experience.
IQ Option Pros and Cons
- Highly intuitive User-Interface
- Efficient customer support team
- Registered online trading platform
- Simultaneous binary options and CFDs trading platform.
- Withdrawal and deposit fees and significant monthly inactivity fee
- No provision to add additional indicators.
Analysis of the Main Features of IQ Option
4.1 Overall Rating
4.0 Execution of Orders
4.2 Investment Instruments
4.0 Withdrawal Speed
4.2 Customer Support
3.9 Variety of Instruments
4.1 Trading Platform
IQ Option Customer Reviews
To further elaborate and analyze the performance of the IQ Option platform we conducted a thorough survey of trading customers across various platforms. In comparison and direct reviews, we established that the users were complacent with the tools and offers provided by IQ Option. The withdrawals were termed as easy and smooth transitions by a few customers.
An array of positive reviews rotated around the efficiency and the ease-of-use of this website with low commission rates stating it as cost-effective. There were also reviews about overall profits made through the accounts made from this platform.
Some also mentioned users having trading losses because of no training and knowledge about the market and exchange rates. While some pointed out, that with the training program and proper market analysis, it was easy for them to trade with IQ Option on an advanced level.
Additionally, a few customers spoke about how the account verification process is important and how traders and investors shouldn’t ignore this factor. The credibility and authenticity mentioned of this service by many users defined it as satisfactory and up-to-the-mark.
IQ Option Spreads, Fees, and Commissions
A basic earning source for many online trading platforms is that they make a profit off the transactions, deposit money, and spreads. This can be a difficult economic situation to overcome for a lot of users, so in order to attract clients and somehow get market leverage over competitors, some brokers offer lower commission rates and minimal deposit and withdrawal fees. It is important to opt for such trading options for a cost-effective experience.
IQ Option in this respect, serve its customers with minimal commission on trading, such as 2.9% for crypto-trading. In terms of a deposit, you can start a demo account from as low as a minimum deposit of $10 to start your trading ventures. The withdrawal options from this service are also mainstream and can be processed easily within that instant or can take up to 3 business days.
This platform is known to provide low spreads to its customers from as low as 0.06 pips. This gives the clients a margin to earn returns from certain price movements, leaving all other competitors behind.
It is also essential to keep in mind the extra charges for a real account or VIP trading account for a more advanced level of trading. Ignoring this can lead to confusion and not an ideal experience without prior knowledge.
How IQ Option Fees Compare to other Brokers
|CFD Commission Fees|
According to consumers’ trading preferences, IQ Option has divided its services into multiple retail investor accounts, depending on the amount and type of assets as well as the experience of the trader or investor.
Demo Account: For beginners, a completely free demo account option is available with all real account features no credit card details are required for this account. With the anytime deactivation option available and $1000 deposit money for a start is the ideal option for trading starters.
Real Account: To entertain lower-risk options a real account option with a complete trading experience spectrum can be created. Through this, you can trade in 500 assets offered by this trading platform and check the real account status whenever you want. Easy withdrawals can be made with immediate transactions within minutes to your bank account or e-wallet is another excellent feature.
VIP Account: For the premium and more advanced level traders and investors, a VIP account is established which has more perks and exclusivity than the other accounts. These accounts have higher profitability rates of as much as 3% more than the regular accounts. To gain a VIP trading account, more fees are required, with the availability of a personal account manager and free tournament participation.
How To Open Your Account?
To open your account on this leading trading platform, you need to visit its official website. It’s a rather simple process, with options to choose the account type you would like to indulge in. With proper verification and following all the steps carefully, you can make an account on IQ Option.
- For the procedure, initially, you have to open the website, enter your e-mail address in the required column, and set a password for access. The platform’s system will send a verification link to the e-mail address you provided, which you can open to verify the details.
- After that, you will be shown an array of tradable assets available through the platform which can include Forex and CFD trades, etc, from which you can choose. Then you have to deposit money into your account.
- Once you are done with all this, you can click on the Trade now option to start your dealings and enjoy the profits. You can complete this process and enjoy mobile trading or on the laptop as per your liking.
What Can You Trade on IQ Option?
Without a careful survey of the economic market, one should not indulge in an online trading platform. To invest money through assets and cryptocurrencies educational material through IQ Option is provided to learn about smart trading and setback management.
To eliminate a high-risk factor, novice traders should start with the demo account status to evaluate all the possibilities. Also with the availability of so many tools available, it’s relativity easy to start trading.
This platform is capable enough to provide an opportunity to trade in 400+ assets currently. Apart from IQ option shares, you can trade stocks, cryptocurrency, commodities, and indices with minimum commission. With the global reach of this website, you can start trading in one or more assets through the market-system analyzer provided by the platform.
Even with stocks being the preferred option of majority traders, It is essential to know the fundamentals of trading before making bigger investments with all your funds with significant risk. With educational material on informed trading choices, IQ Option is one of the most successful online brokers.
IQ Option Customer Support
Within a trading-related environment, from minimum trade to maximum, there is a possibility of things going downhill. Either If it’s registration of your account to invest money, trading CFDs, or errors in a withdrawal request, customer support is there to help you in any case.
From social media to e-mails to live chat, customer support is quick to respond to any queries of the account holders or other consumers. You can easily get a reply within seconds using their service.
Multilingual communication through customer support is a big feature provided by this platform for consumers around the world to have a comfortable experience and irradicate the language barrier.
Through customer reviews, it is stated that the customer support team from IQ option is highly efficient and causes no delays in answering client questions, and becomes a prop whenever required.
IQ Option Customer Support Advantages and Disadvantages
|Foundation Date|| |
|Registration Address||Hinds Building, Kingstown, St. Vincent and Grenadines|
|Contacts||Email: firstname.lastname@example.org |
Phone: +13 468 009 001, +66 210 407 95, +25 420 389 4272
Security for Investors
Withdrawal Options and Fees
Trading on IQ option can lead to small leading up to more significant profits. In this case, when users try to withdraw money from their accounts, the brokerage company comes into play. The facility charges its customer a fraction of the fees to balance its low commission provisions.
There are many channels available to withdraw your amount easily and in a secure way using the IQ Option trading platform. For comfortable withdrawals, you can make use of bank transfers, wire transfers, credit cards, or debit cards. Another modern yet popular method for easy cash withdrawal is through e-wallets which are on the rise.
This platform gives you a facility of one free withdrawal from your account, but after this, you will have to pay a small fee of 2% to the website for further withdrawals. If we talk about withdrawals via bank transfers, then you will be charged $31 for every transaction that you make.
Overall, it’s a relativity fast process and does not require weeks of wait on end to receive your profit.
IQ Option Vs Other Brokers
IQ Options is a top-notch and reliable broker service providing high-end facilities and offers to its clients with minimum margin or error. It has built its reputation to leave behind various competitors with its lower fee quotient and customer retention. Nonetheless, to provide an ultimate verification, we have compared this service with other similar brokerage companies with its features and standards.
#1. IQ Option vs Avatrade
Avatrade is known for its well-recognized trading provisions and a trusted performance background over many years. Avatrade when compared with IQ Option has many similarities along with only a few differences. Both of these companies deal with providing retail investor accounts to their clients. These are both virtually operatable including trading, transactions, and withdrawals.
The difference lies in the part that Avatrade holds no withdrawal fees which holds a little leverage whereas IQ Option holds little fees in terms of various withdrawal channels. Avatrade also takes the edge by providing insurance to traders in case of investment loss, and the insurance policies are well-defined and do not contain hidden terms which can differ the benefit.
This comparison placed Avatrade with a slighter edge over the IQ option with better performance and more profit provision to relative customers.
#2. IQ Option vs Roboforex
Roboforex has made its place as one of the leading trading platforms and right off the bat If we place it in comparison with IQ Option, both of these platforms provide multilingual communication support to their customers. This makes trading in other languages incredibly easy and fast.
Moreover, another similarity is that both IQ Option and Roboforex are licensed by CySEC (Cyprus Securities and Exchange Commission) which makes them credible. Many of their features are similar including offering retail investor account options with respect to experience as an asset type to their customers.
One difference between the two platforms is that there is no option for cryptocurrency trading in Roboforex, whereas IQ Option provides an extensive list of currencies and binary options you can trade in. With respect to this comparison, IQ Options hold the top position due to its features.
#3. IQ Option vs Alpari
Alpari online brokers are known to have benefited many customers through their consistent performance and services with many financial products. Alpari offers more than 100+ financial products for trade whereas, IQ Option has better options with more than 400+ trading instruments for its users making it more diverse.
Both of these companies are certified by different but verified Exchange Commissions which claim their authentic and trustworthy service. Moreover, Alpari offers a cutting-edge MT5 interface and many educational tools.
Alpari in contrast does not cater to customer support in various regions and countries unlike, IQ Option, which has a worldwide reach and can benefit any investors and traders. By evaluating, the similarities and differences between both services, the users can choose the service which best fits their requirements.
How IQ Option Trading Options Compare against other Brokers
Conclusion: IQ Option Review
A prosperous successful trading journey requires skill and a complete understanding of the highs and lows of trading in various financial instruments. You have to not only look at the profit graph but take into account investment loss possibilities, open and close index as well as market trends. Looking for a reliable online broker should be your priority keeping into consideration hidden fees and authenticity.
IQ Option exceeds user expectations with its low spread and low commission rates with maximum security provisions than other competitors in the market. This platform provides an opportunity for its clients to deal with 400+ assets to trade in ranging from stocks, cryptocurrency, securities, Forex trading securities, and CFDs on respected assets.
We cannot deny the fact that during evaluation, IQ Option helps its spot as a high-standard online brokerage company with its variable account options. This platform is ideal for beginners and advanced traders alike. It holds the most advanced trading tools available in the market.
Either if it’s a comparative evaluation or a single-held inspection, this trading platform held its ground as a leading and verified online trading service. It benefits its users with high-quality customer support along with easy withdrawals. Overall. IQ Option can provide content provisions to many traders and investors around the globe.
IQ Option Review FAQs
Is IQ Option good?
IQ Option through an extensive survey from different angles is not only good but a legit option for all novice and seasoned traders and investors for their trading journey. It is regulated by the CySEC(Cyprus Securities and Exchange Commission) proving its reliability and authentic nature.
It’s an easy-to-use interface with customizability and modern economic tools along with regularly updated assets making it high-quality and preferred for users around the world. Its low commission rates also entice customers and make it a viable choice.
Can you make money on IQ Option?
In accordance with gains, yes there is a high possibility to make money on the IQ option. It is mostly observed that medium and long-term options and positions seem to give more profit than short-term options.
With careful trading, It is a possibility that you can reach as much as 90% payout with minimal fees. The broker does not charge much which takes your profit margin to a higher level.
How long does it take to withdraw from IQ Option?
IQ Option has an option for easy withdrawal requests by traders. However, depending on the channel it can vary in the time that you receive the withdrawal. In terms of bank transfers, the withdrawal can be instant, or in terms of processing, it can take up to 3 business days for the withdrawal.
It may take some time to get your desired results because of technical grounds and other variations. However, it is a reliable service so it is devised to be patient and you will be able to withdraw your required account and receive it within due time.