IQ Option is a binary options broker that belongs to a company called Investlab Trading Lab. It operates under a management company called Infofield Premier Limited. IQ Options provides binary options trading services in 20 countries including Germany, France, and Canada. It has been featured in many top finance magazines including Finance Magnates, and Digital Journal. Every day, there are more than 1 million transactions being carried out in IQ Options. Up to date, there are more than 3 millions trading accounts. IQ Option currently does not accept US traders.
Types of Trading Accounts
IQ Option offers two types of accounts including Real account and VIP account. The Real account only requires a minimum deposit of $10. It offers cashback option that allows you to get back up to 45% of your investments. The basic account offers up to 90% of welcome bonuses and free weekly webinars. Traders will be given access to free trading signals if they place a deposit of $100 or more.
The IQ Option VIP account has a minimum deposit requirement of $1000. The VIP account provides up to 60% cashback bonus in the event that you lose the trade. New signups for VIP accounts will get 100% welcome bonus. It features VIP webinars, free trading signals and personal account manager. VIP account holders can attend a monthly analyst meeting for free to plan good trading strategies. There is only a minimum trade size of $1 so you can trade up to ten times with just a small investment of $10.
It is recommended that you choose the VIP account as it payout a higher percentage. Newbie traders will benefit from the advices of the personal manager. Besides, the VIP account also offer better refund rates to help you to reduce your losses. This prevents you from having to face with huge amount of losses from the start.
There is a free demo account that allows you to get familiar with the different features on the trading platforms. The demo account allows you to test your trading skills without having to deposit real money into the account. The demo account lets you test your trading strategies on thirteen trading assets. Although the demo account lets you access all the features on the Real account, it only provide you with limited trading opportunities.
Binary Options Trading Tournaments
From time to time, iQOption will organize binary options tournaments where traders get to compete with one another and win prizes. Both basic and VIP account holders get to participate in the competitions. You have to pay an entry fee in order to join the competition. Traders will get a balance of ten thousands dollars to use in the binary options trading tournament. The winner is the one who manage to accumulate the highest amount of balance at the end of the tournament.
Sometimes, the tournaments offer guaranteed prize funds, where the company will pay out additional funds in case the participation fees did not cover the prize pool. Usually, the tournament will last for thirty minutes. Taking part in the tournament is a great way to pass your free time and reap profits within a short period of time. If you win in the binary options trading tournament, you will be able to earn up to one hundred times of your entry fee.
IQ Option offers a trading platform with user friendly menu that is easy to navigate. They recently update the trading platform with a high contrast graph that makes it easy for you to monitor your trades. It is very simple to place a trade on the IQ Option trading platform. You must first select the asset type from the menu on top and determine the trend direction after taking a look at the chart. Afterwards, you must select the expiry time, and enter the investment amount.
You can select the type of asset from a tab located above the price chart. There are more assets on the drop down menus located to the right. You can use the purchase option form on the right side of the screen to place a trade. To place a trade, you must first select the trade amount and expiry time from the drop down menu. If you don’t want to select the trade amount from the drop down menu, you can type in the exact trade amount. The estimated payout you will receive if you win is listed there. The standard call/put binary options offers a payout of up to 89%.
Under the personal cabinet tab, you can review the transactions of the trades you just placed. You can conveniently check the highs and lows of different types of assets on the chart. IQ Option does not support auto trader so you will have to manually approve every trade. IQ Option supports a mobile trading platform that is compatible with Android and iPhone.
IQ Option provides customer support via email. There is no telephone or live chat support. You will be assigned with an account manager who can help you with any issue you face with your trading account. The customer support hours is from 09:100 – 23:00 on weekdays. The customer service department supports several languages including Russian, Spanish, Italian, and English. In the educational center, you will find many free webinars, ebooks and video tutorials on various binary options trading topics.
Asset Types and Expiry Time Frames
There are over 70 options for traders to choose from. There are a variety of expiry time frames including sixty seconds, fifteen minutes, thirty minutes, forty five minutes, and one day. Sixty seconds options are ideal for traders who want to generate quick profits but the downside is that they involved higher risks. The profits for sixty seconds may be large but more traders are losing money rather than making profits with these types of options. This is why short term options such as sixty seconds options are not suitable for newbies.
IQOption supports many different types of deposit/withdrawal methods including credit card, bank wire, QIWI, Moneta, Paypal, WebMoney, Skrill, Neteller. To deposit or withdraw funds, you have to go to the personal cabinet. It can take up to three business days to withdraw the funds into your account if you are on the basic account. If you are a VIP account holder, it only takes one day for your withdrawal request to be processed. It supports a number of currencies including Dollars, and Pounds. It also support the local currencies of foreign countries such as Portugal, Middle East and Turkey.
Binary Options Regulation
IQ Option is a CySEC regulated broker with the license number 247/14. It is also regulated by FMRRC. The clients funds are protected by the European Union (MiFID).
IQOption is a highly rated broker recommended at many top binary options review sites. They provide reliable trading services with the lowest trade size of $1 and a minimum deposit of $10. The withdrawal process is secure and fast. IQ Option have been awarded with many awards in the past including Most Reliable Binary Option Broker and Most Innovative Binary Option Broker award.
The critics who reviewed IQ Option are professionals who have many years of experiences in the field.