IQ Option Review: The High-End Trading Package
Since IQ Option launched in 2013 it has been growing fast. Visit the website and you will be bombarded with stats that are a testament to this fact. This is no fly-by-night scam broker for sure. Trade volume on the platform increased by 50 times from 2013 to 2014. The broker can also boast that monthly payments to its traders have grown by more than three times from 2014 to 2015. The countries where the platform is available have increased from 18 in 2014 to 178 in 2016. Processing orders on trades have decreased from 30 seconds in 2015 to one second in 2016. Affiliates of the broker have enjoyed an increase in monthly profit from $200,000 in 2014 to $1,000,000 in 2016.
.Limited Time Only27%*Welcome Bonus
Trade on Forex, stocks, indices, commodities
Up to 90% Fixed Profit in 60 Seconds
No Commissions and No Spreads
Recognized by the Biggest Financial Newspapers
IQ Option’s business model is based upon a pure exchange rule: at any moment and for any price there are traders willing to buy and there are traders who want to sell. The online trading broker acts as the clearing house for trading and obtains a commission from the total transaction volume. Should the amount of buyers or sellers outweigh each other the market risk is passed on to the market maker. Binary options offer traders a simple premise: if you successfully predict the direction of an asset over a pre-determined period of time the trade wins you a profit. If you bet incorrectly you know exactly how much you’ll lose at the outset of the trade so the downside risk is limited. Still a relative newcomer in the increasingly crowded binary options space, IQ Option has set out to become a major player in the global market. Realmoney.co.uk reviews what the platform has to offer.
Claim Your ‘Bonus funds’
At the time of writing this review, an IQ Option bonus of £27 was available to new clients that open an account. Once the IQ Option bonus has been credited to your account your balance will be split between ‘real funds’ and ‘bonus funds’. When you start trading, every loss and every win will consist of a proportion of real and bonus funds. If you deposit £3,000 or more you’ll be eligible for a VIP account, which has the additional bonus of offering up to 50 per cent special bonuses that can increase your deposit by half. In addition, VIP accounts offer traders access to high-yield assets that can make the maximum profit level reach 89 per cent. VIP account holders can also participate in special trading tournaments on the platform. This is an enticing scam-free bonus.
Low Touch Trading in Seconds
When you open an account with IQ Option you start trading with a broker that offers an elegant, transparent and easy to use trading proposition. You can choose between trading with binary options that generally have a minimum expiration time of 15 minutes throughout the trading day to the end of the day, week or month. Alternatively, you can trade with Turbo options which have expiration times of between one and five minutes. The minimum length of a turbo option is 30 seconds. The broker offers options on commodities, indexes, Forex and equities. In total about 60 assets are available to trade. However, not all these assets will be available all the time. Volatile or challenging market conditions may result in the broker withdrawing access to stocks or other assets on the platform. In comparison to the choice of financial instruments on rival broker platforms, the IQ Option offering is quite limited. Still, this lack of choice and available products to trade has to be balanced with the functionality and trading experience that the platform offers.
BREAKDOWN BY NUMBERS:
- Minimum trading deposit of £10
- More than 1,500,000 trades per day
- More than 11,000,000 active accounts
- Close a position after one minute
- Minimum transaction size of £1
This review found that the platform is highly accessible with a minimum deposit of just $10. The broker says that it has optimised its service to facilitate clients’ making quick withdrawals from their accounts. In 2016 the broker says it switched to instant withdrawals which made it possible to process 72 percent of withdrawal requests immediately.
Fast Touch Mobile Trading
The overarching philosophy of IQ Option is stamped on its mobile trading app: offer users a trading experience that embodies elegance and simplicity. When you download the app on to your handheld device a trading account is immediately set up and within seconds you can practice making trades in demo mode. The IQ Option app has clearly not been designed as an ancillary service. This is a tech-savvy broker that has an intuition for where the future course of trading is heading and the app has an intuitive feel that makes for an enjoyable trading experience. You can scroll between screens that let you view your trading history and obtain access to educational tools. Making a trade using the app is made easy with the portal offering clear and transparent trading functionality. The app is available on the iPhone’s iOS operating system on devices 8.0 or above and on Google Play’s Android 4.0.3 and above.
The ZuluTrade App:
VIP Accounts available with £3,000 deposit
Switch between demo and real balances in one click
Quotes provided by Thomson Reuters
Awarded Best Mobile Trading Platform 2015
Attractive free and buy-in tournaments
Charting the Markets
The IQ Option trading platform is equipped with a variety of add-on features to enhance users’ trading experience. These include educational resources that provide a basic introduction to binary options and when the products should be used. In addition, you can obtain access to charting tools such as Japanese candlesticks, trend lines, support and resistance, moving average, alligator, the RSI and bollinger bands. The broker also provides online video tutorials that provide illuminating commentary to the different dimensions of trading with binary options and how you can use the products intelligently as investment tools.
Trade in Demo Mode
Everything about the ethos of IQ Option has the intention of making financial markets accessible to the wider retail investment market. The products themselves are transparent and easy to use and the platform’s demo account provides users with a risk-free portal for familiarizing themselves with the products. Here you can practice with the same functions that are available when you trade with real cash. IQ Option provides users with a virtual deposit of £1,000. Users obtain real time quotes from Thomson Reuters and can practice for an unlimited period of time for free. Here you can test trading strategies and evaluate for yourself the interface and trading platform.
If you find that you’re a bit of a trading wizard on the demo account, don’t let this give you any false confidence when you start trading with real money. Binary option brokers allow you to bet on the short-term future direction of an asset. Always remember that no matter how elegant the trading platform that you trade the products on is, predicting the short-term moves of any instrument is extremely difficult to do in financial markets characterised by increasing levels of volatility. Unless your thought process of whether to buy or sell is guided by a professional trading strategy you could just as well be having a punt in a casino.
Around the Clock Customer Service
If you have a question about how to trade binary options on the platform you can message a customer support agent on the website. When realmoney.co.uk tested the customer support in this review with a couple of trading questions, answers were provided within the hour. Alternatively, you can telephone a customer support agent on +357 25 262 010. The binary options broker promises customer support every day, around the clock. The Cyprus-based broker is fully regulated by all investment authorities and falls under the supervision of the Cyprus Securities and Exchange Commission. The broker participates in the Investor Compensation Fund (ICF, Cyprus) and CRFIN Compensation Fund to protect and secure clients’ claims in the event that brokers are not capable of fulfilling their financial obligations. IQ Option stores clients’ funds in segregated accounts, separate from the company’s bank accounts. Such consumer protection is vital to guard against scam operators. IQ Option ticks all boxes required for a robust level of consumer protection and regulatory supervision in an industry where, sadly, scam and rogue operators do target investors.
- Telephone:+357 25 262 010
- Live Chat:No
- Contact form:Message Service
Payment MethodsVisa, MasterCard, Webmoney, Qiwi, YandexMoney, Paypal, Liqpal, Liqpay, Skrill, Moneta
Smart, Intuitive and Elegant
IQ Option clearly has ambitions to be a pre-eminent player in the burgeoning binary options space. While it currently does not offer an expansive product range it will surely develop its offering. In the mean time you can still trade major currency pairs, commodities, stocks and indexes. The demo account provides a great way of not only familiarizing yourself with the products but seeing exactly how much you can win – and lose – when making a trade. Binaries have the benefit of being fully transparent in that you can see exactly what is at stake and how much money is at risk. If markets turn dramatically against you there is not risk of suffering spiralling huge losses. But always keep in mind that it is extremely difficult to predict where an asset is heading in the very short-term. Gut-feel alone will not make you a successful binary options trader. Binary options are high-risk financial products and should only be deployed as part of a professional trading strategy. The risks these products carry has been underlined by scam brokers entering the fringes of the market. If these products match your risk profile and provide the type of market exposure that you are looking for, IQ Option offers a solution where you can at the very least dip your toe into the water.