IQ Option Review – Is Trading On IQ Option Legit In 2021? – Demo, App, strategy, Tutorial
IQ Option is one of the legit and trustworthy brokers, best know for its intuitive trading platform. This IQ Option Review will explain why traders should choose this online trading platform as their trading broker.
However, you may have heard that the platform is one of the most transparent, trusted, and resourceful ones.
Not only beginners but also it is the number one choice for experienced traders. The significant part is that you can earn the highest amount of profit by investing a minimum amount.
Moreover, the broker provides such unbelievable offers for traders. Undoubtedly, it is the fastest-growing online trading brand in the world.
They have started their business as a fully formed Binary Options Broker. But now, they offer a variety of trading classes along with options trading.
IQ Option supports its traders with excellent trading instruments along with the best trading tools, market updates, newsletters, calendars, and many more.
Let’s dig the hole more intensely to get an unobstructed view.
EU Countries: Binary Options and Digital Options are not available for EU (European Union) Countries. Non-EU Countries: FX Options are not available for non-EU Countries.
Warning: IQ Option does not accept traders from the following countries – Palestine, Russia, Syria, Turkey, Sudan, USA, Australia, Belgium, Canada, Iran, Israel, Japan, Latvia, North Korea.
IQ Option Review – What Is IQ Option?
IQ Option is owned and operated by IQ Option Ltd with registration No. 24840 IBC 2018. With a clear objective, since 2013, IQ Option is providing trading services. The ultimate aim is to deliver the fastest, accurate, and user-friendly trading platform.
Moreover, the broker platform is both licensed and regulated by CySEC. So, dealing with this broker is sound and secure because they ensure transparency over everything.
On the other hand, the smooth and trouble-free platform helps them get an immense number of registered traders every day. And day by day, it’s increasing.
Moreover, if you are looking for the tiniest deposit amount, the broker is a sensible choice. Start trading by depositing only $10.
Traders delightfully traded from 213 countries on this platform. With 79 dedicated customer support teams, over 700 dedicated specialists work to provide the most high-grade service.
Forget about carrying an interpreter because IQ Option allows native language.
Why IQ Option?
IQ Option provides numerous trading tools to help traders with their trading. Using their platform, you can trade the most volatile asset classes like Forex, stock, Exchange-Traded Funds (ETFs), and a brand new product called Digital Options.
This section will give you some reasons, which we believe will provide you with an obvious notion of choosing IQ Option as your broker.
These are –
- Licensed and trusted broker
- The minimum deposit for Binary Options $10
- Forex or CFD min deposit $20
- Maximum deposit $1000000
- Minimum investment $1 per trade (Binary Options & Digital Options
- For FX Options, min investment $30
- Maximum investment $20000
- Demo Account
- The maximum payout 93%
- Multiple trading types
- Online trading Tournaments
- Mobile trading
- Personal manager for VIP traders
- A wide range of withdrawal methods
- Minimal withdrawal $2
- Manage your profit and loss limits
- Proprietary Software
- 300+ trading instruments
- Enriched learning center
- 24/7 customer service
Awards & Achievements
Not a single factor attracts traders to trade on this trusted broker’s platform. We have already mentioned that for various factors, traders accept this broker. And their achievement is one of them.
Since 2014, they have achieved a quality number of awards in various sectors.
We mentioned a few here:
- The Academy of Interactive and Visual Arts Awards for “2017 Award of Excellence”
- Mobile Star Awards for “The Intelligent Trading App for Binary Option”
- Business Initiative Directions Group Awards for “Century International Quality Gold”
- The Web Marketing Association Awards for “Best Technology Application”
- Global Brands Magazine Awards for “Fastest Growing Binary Options Brand”
IQ Option Sign Up and Sign In / Login Process
The sign-up process is straightforward. But before opening an account with IQ Option, we will recommend our traders to read the terms and conditions carefully.
Below, we will describe the process one by one.
IQ Option Sign-Up:
It requires filling the registration form with your details along with a valid email address. Anyone can also sign up with Facebook or Google Plus account.
An activation link will send into your mail to activate your account. Agree with the terms and conditions given by the authority of the IQ Option to open a free or a demo account.
To perform the trade with a real account, deposit a minimum of $10.
But to make an effortless journey, you can immediately sign up by using your email from the below.
IQ Option Login:
Whether you can use your social platform credentials or can use a valid registered email to log into the platform, as the social platform, IQ Option allows Facebook and Google+ account.
For Indonesia & Vietnam Trader:
The overall process of opening an account and login is the same as we mentioned earlier. Every Indonesian trader can legally earn money on binary options trading.
More than 40 types of binary options are at the Indonesian trader’s disposal.
If you follow the Islamic faith and would like to feel absolutely safe while trading forex with IQ Option, you can open an Islamic account and have special conditions for trading.
How To Complete Account Verification
Each trader has to go through an account verification process if he or she wants to withdraw profits. The company will ask for some documents that should be valid.
Whether you can complete the full process at the time of opening an account or can finish later.
- The very first step is email confirmation. The team will send you a code through email. Enter this code in the relevant field.
- Then, confirm your phone number with a specific country code. Enter the SMS code in the relevant field.
- Verify your personal data
- Input information regarding your trading experience and strategies.
- Lastly, upload and submit required documents to finish the process
IQ Option Demo Account
It is better to have knowledge and little experience before entering the trading market. IQ Option offers a Demo Account that is worth $10,000. The demo account is entirely free and refillable. So, traders can top up if it is lower than $10,000.
Moreover, switching to a real account is also possible if one deposits a minimum required amount. One can hardly differentiate a demo account from a real one. However, you won’t be able to see the full trading instrument list in the practice account.
At the same time, with the help of the demo account, traders can efficiently practice trade to uncover the best trading strategies. It will also help you to apply your trading knowledge with no risk.
Therefore, it helps a trader to be prepared and confident to place a trade by himself. Besides, it ensures a higher success rate.
High Capital Risk Is Involved In Financial Trading
Along with the demo account, traders can choose more options or accounts. They offer three types of account. These are –
- Real Account
- VIP Account
- Islamic Account
We have already mentioned a bit about the demo account in the earlier section.
The real account is the general or standard account that can open by any trader. It requires a minimum deposit amount of $10 and a maximum of $1000.
There is NO BONUS option available for traders. Besides, traders will get weekly webinars and access to the web brokers’ trading tournaments.
To get a VIP status, deposit $3000. To qualify, the trader needs to fulfill at least one condition below in three months:
- Total minimum deposit amount for the last 3 months–$1900
- Trading volume for the last 3 months–$15,000
Moreover, VIP traders will get special privileges from the IQ Option team.
The account ensures the profitability of traders on options trading.
Apart from this, the traders will get
- A high return percentage
- Personal account manager
- Special conditions for tournaments
- Unique bonuses
For expert traders, the team prepared a wide range of training materials.
Those who follow the Islamic faith will get a special Islamic account—the specially designed account for traders who meet their trading goals.
You will get:
- HIBAH means you can donate a part of your profits to charitable organizations with no fees.
- A wide range of multipliers
- Free online trading platform.
- Interest-free trading (No fee applicable for opening, closing, and holding position).
- Full transparency
IQ Option will charge 10 EURO for an inactive account. Each account would count as an inactive account if it stopped operation 90 calendar days in a row.
IQ Option Mobile Trading App
IQ Option lets you trade with a wide range of instruments. Over 300 assets are there under various trading classes. So, traders can execute trades using a mobile device as well as a web platform.
Moreover, traders can download the trading application for their mobile and desktop device. Both Android and iOS application is available.
Now, it’s your time to discover thousands of investment opportunities with the IQ Option trading app.
A mobile platform is beneficial for traders. Especially in the mobile device, apart from all other tabs available for browsers, a trader will find asset price movement separately.
It allows you to perform trade from anywhere you want. Definitely, a mobile app is convenient to use. But unfortunately, there are also some limitations.
On the other hand, IQ Option offers a progressive web app (PWA). It doesn’t require the user to visit an app store or download any files locally. Instead, PWAs can be installed by clicking the “Add to home screen” button in any browser.
Moreover, you don’t need to download the IQ Option app to your desktop and mobile device. Those traders who use the iOS application can use this app to perform binary options trading. To know the advantages of the PWA application, read this blog post.
Traders can download the IQ Option trading application for desktop. The IQ Option platform works fast for Windows and Mac OS desktop devices.
Moreover, your desktop needs to support OpenGL configuration for maximizing the computer’s video card resources.
If a version of the app is not available for your device, you can still trade using the IQ Option website.
IQ Option is working with a particular trading type named Binary Options at the very beginning. Day by day, they have improved a lot and added more variation for trader’s benefits.
Now, the platform offers an expanded version of trading types like Forex, Options (Binary, Digital, and FX Options), CFD, and Cryptocurrency. Under each class, you will get over 300 trading assets.
As alternatives are huge, you can pick according to your preference.
Traders can buy and trade a great variety of stocks. There are almost 180 asset types in Stock trading.
The trading profit is up to 30% with each 1% price change. However, profit depends on the market situation. You can take leverage up to 1:20. Fortunately, IQ Option set a bigger multiplier for non-EU stock traders.
A multiplier is for those traders who seek more profit from the highly volatile market.
In options trading, there are three types of options available, and they are-
- Binary Options (non-EU)
- Digital Options (non-EU) and
- FX Options (EU)
Pick the right option that suits your trading style. Though the total underlying options are 57, you can diversify your trading with even more assets on FX Options. Moreover, IQ Option has added 12 new assets to FX Options.
Traders will get a fixed payout which is a maximum of 900%.
High Capital Risk Is Involved In Financial Trading
We all know that Forex is the largest and most liquid market in the world. The volatility remains high in the currency market. There are 25 currency pairs available on the trading platform.
The trading leverage is up to 1:300. Larger leverage of 1:1000 is only available for non-EU traders. Traders from the EU can trade forex with an up to 1:30 multiplier.
Most traded currency pairs are (EUR/USD, AUD/CAD, NZD/USD, USD/CHF, EUR/GBP, GBP/USD etc.)
You can trade top cryptocurrencies by using the IQ Option platform. There are 35 cryptocurrencies available on the trading platform.
Here, the bitcoin leverage is 100:1 for its growing interest. Traders from non-EU countries can trade Ripple in 20:1 leverage and Ethereum in 50:1 leverage.
A multiplier of 20:1 is also available for other crypto-assets like Litecoin, Bitcoin Cash. NEO, EOS, IOTA, etc.
Traders can diversify their trading portfolio with exchange-traded securities that track indexes, commodities, and baskets of assets.
There are 23 ETFs available. The ETFs leverage is 1:20. ETFs allow investors to buy on margin, sell short, and purchase as little as a single share.
IQ Option Indices and Commodities:
There are 4 commodities available in the trading platform as per their website information—the leverage ratio up to 100:1.
Unfortunately. they have zero indices in their list for a while.
Best IQ Option Strategy and Analysis
Trading with a proper strategy will help traders to earn a higher amount of return. On the IQ Option platform, you will find many popular trading strategies using different candlestick patterns and bar patterns.
Not all patterns work equally well. So, we recommend it to practice trading before investing money in the real field.
Keeping everything in mind, we mentioned a few popular names of the trading strategies and patterns below, which you can implement on IQ Option’s platform as many professional traders widely use these.
Also, we have a comprehensive in details guide on IQ Option Best Strategy For Winning Trades which explains how you can use the different chart types, indicators, and lines in your trading analysis and different tips – tricks.
IQ Option Trading Platform Overview
We designed this phase with a concise description of the IQ Option platform. It has a well-organized proprietary trading platform.
On the left side of the platform, traders will find a trading portfolio with all active positions and pending orders.
You can see your all position at a glance by clicking the history tab. In both demo and real account, traders will find customer supports option where you can ask for any solution.
There are also social chats for particular asset traders to share their trading information socially. It helps them to know the market condition. However, they restrict joining the social chat group for demo traders.
On the other hand, the leader board section will show you the list of top traders worldwide. But the transaction amount will count only for a live account. Moreover, the market analysis tab will show you all the current trading market news.
Not only those mentioned features but also you will find information on top assets, trading tournaments, video tutorials, and FAQ.
In the latest version, you can draw any graphical tool over technical indicators, trend lines, or even Fibonacci over MACD. On the right side, you will find the account option from where you can switch your account whenever you want.
Lastly, set your expiration time for trading options and a specific amount you would like to invest. For CFD trading, select the correct multiplier, amount, and stop-loss.
IQ Option Trading Indicators
Indicators are the key to analyze the market. The broker allows you to use multiple indicators. Not all indicators are possible to display here, though we have mentioned a few.
- Bollinger Bands
- Parabolic SAR
- Stochastic Oscillator
- Awsome Oscillator
- Ichimoku Cloud
- Belkhayate Timing
- Williams’ %R
Technical indicators are useful for quicker market analysis. Set the indicator according to your choice and apply it.
You can save your indicators to apply them to any chart in the future. Traders often use sentiment analysis that shows the current market mood or the ratio of selected assets.
A trader can set the time frame, which will show the high and low value of assets. It is possible to see traders from other countries who are placing an order in real-time. The volume will show an interest in the trading asset.
On the IQ Option trading platform, traders will find four types of trading charts. You can set the color from the display settings.
Time interval starts from 5 seconds to 12 hours. Traders will get a price range depending on the time interval. This time interval applies to Candlesticks and bars.
Graphical Tools For IQ Platform
Graphical tools are mainly useful for trend analysis. By using these tools, you can draw and mark lines on the chart.
There are 5 types of Graphical tools available in the IQ Option trading platform. These are:
- Trend Line
- Horizontal Line
- Vertical Line
- Fibonacci Line
IQ Option Tournaments
A tournament is a competition between traders where everyone can take part. It is an opportunity where traders can test their trading skills against other traders.
It requires a small amount of fee to take part in a tournament. However, it’s not fixed. It will depend on how big the tournament is. The entry fee starts at $2.
The re-buy option applies for some selected tournaments where you can reload your account balance with actual money. If you win the competition, they will automatically credit the prize money to your account balance.
In their tournament window, traders will find news on all open and upcoming tournaments.
IQ Option Withdrawal and Deposit
The minimum deposit amount is only $10 for real account traders. IQ Option offers zero charges while depositing money.
One can deposit money using Visa, Master Card, Bank Wire, Perfect Money, AdvCash, Neteller, Skrill, Astro Pay card, Maestro, or Web Money.
Eventually, the fund will show up in your trading balance instantly after depositing the amount.
You cannot change the currency once you made the payment done. Select the currency carefully before proceeding with the payment.
You can make your payment through Bitcoin. It will convert fiat currency into your real account. The option of depositing via PayPal is not available on their website.
The minimum withdrawal amount starts from $2; however, the maximum withdrawal amount is $1,000,000. If you want to withdraw less than $2, you need to contact IQ Option’s customer support.
You can withdraw up to $1,000,000 per day. However, the number of withdrawal requests is not limited.
As per their rules, if you withdraw your profit amount through a bank transfer, they will charge a fee of 25 EUR. You can withdraw your profit using other methods at no cost.
They need a verified account to make a withdrawal request. Approximately, it takes 1 day to withdraw money via e-wallet and up to 7-9 days via bank wire transfer.
To know why traders can’t withdraw their profits, read this article carefully.
How to Deposit and Withdraw with a Local Bank: South African Republic
How to Deposit:
- Select your deposited amount with the preferred local bank. You will find the complete list on the website.
- Select the currency type.
- “Go payment.”
- After redirecting to the payment gateway, input your necessary information to log in.
- Verify your login with the OTP code.
How to Withdraw:
- Choose your local bank from the list and input the amount.
- Click the “withdraw funds” button.
- You will successfully send your withdrawal amount.
How to Deposit:
- Choose the amount and preferred local banks from the IQ Option website.
- Click the “Go to payment” button.
- After redirecting to the payment gateway, input your necessary information to log in.
- Verified your login with OTP code.
You can read a detailed guide on IQ Option Withdrawal And Deposit Method, which explains how you can deposit and withdraw through various methods for various countries, including withdrawal proof and problems in IQ Option.
IQ Option Contact And Customer Support
The help and support team of IQ Option is very proactive, cordial, and available 24/7.
Over 79 dedicated customer support members are available to help traders. We have asked several questions through the live chat and got an immediate response, which was impressive.
Such a quick response is necessary for a new trader so he can resolve his problem.
Besides, for any query, a trader can send an e-mail, and the reply will be back within the mentioned timeframe.
You can also find them on social media like Facebook, Telegram, Twitter, YouTube, and Instagram. Traders will get all updated news from these sources.
Traders can also communicate via contact number. On their website, you will find all the numbers depending on which country you belong to.
We could not find any significant drawbacks regarding their platform and operation—several people in forums have made claims about the IQ Option multiplier.
IQ Option multiplier is not the same for all countries.
The multiplier or leverage depends on the asset’s availability, volatility, and also the country. Most traders from non-EU countries enjoy a higher multiplier than EU traders.
Another drawback that we count as a minor is that traders can not contact their support team through live chat without sign-in on the platform.
Is IQ Option Scam or Not
We hardly found a few objections regarding this broker during our research, but those are not major. We have got complaints about the withdrawal process.
Due to the lack of proper knowledge, many traders ignore to read the withdrawal terms and conditions. So, it badly affects at the last moment when they sent the withdrawal request.
Moreover, IQ Option uses powerful encryption technology to protect the client’s data. They secure the data via Transport Layer Security during the transmission from client devices to the broker server.
Also, they have created a proprietary trading platform to avoid unwanted situations. Moreover, appropriate client management helps them to build trust among all traders.
After all, they achieved awards for their tremendous effort in the trading marketplace.
In the end, we are pleased that IQ Option is very caring for the new traders and offers many promotions and services for them.
We also admire them for providing a demo account with unlimited funds.
IQ option’s prosperous education sector will help new traders to know about trading strategies, indicators, tools, etc. You can trade with them, fearing no scam activities because they are a regulated broker.
So, start trading with IQ Option to win a maximum profit by investing a minimum amount.