IQ Option Review: Most Reliable Online Trading Platform.
What is IQ Option?
IQ Option is a platform that manages financial market activities, allowing users to access a wide range of investment options such as Contracts for Difference (CFDs) on stocks, cryptocurrencies, Exchange Traded Funds (ETFs), Forex, and more.
Since its inception in 2013 as IQ Option Ltd., the company has quickly grown to become one of the market’s most popular and fastest growing online trading platforms. According to its official website, it added more than 48,000 new users in 2020, managing an average of 1.3 million operations every day.
Is IQ Option reliable?
Dmitry Zaretsky founded the company IQ Option Ltd. The sister firm Alta Vista Trading Limited owns the web domain and the trading platform. Since July 30, 2014, these firms have been registered with the Cyprus Securities and Exchange Regulatory Commission (CySEC) under licence 247/14.
Licensed and regulated
It is noteworthy to note that when you access the website, they are quite transparent in their offering of information connected to the platform’s operation, displaying data on the platform’s operations. Among the facts provided, the notion that processing procedures will cost $290 million in 2020 sticks out.
Overall, investors who use this platform make monthly withdrawals of $20,375,097, with 68 percent of withdrawal requests processed promptly and the rest resolved in an average of 11 hours, implying a significant advantage over competing platforms with greater wait times.
Furthermore, the platform has garnered significant honours for the quality of service provided, highlighting:
- FX Report Awards Best Binary Options Broker
- MasterForex-V is the most dependable binary options broker.
- Forex Awards’ Best Trading Platform.
- IFM Awards’ Best Online Forex Platform (2015)
- Excellence in Visual and Interactive Arts Award from the Academy of Visual and Interactive Arts (2017)
Another point in favor regarding regulations is that the company is part of the investor compensation fund Investor Compensation Fund (ICF, Cyprus) that covers up to €20,000 in favor of investors and the CRFIN Compensation Fund. The danger of trading, of course, is fully dependent on the user and his level of skill.
The significance of these awards and regulations is that they allow trading operators to demonstrate that they meet or surpass industry standards. This, together with the registration with CySec, ensures that the operations are lawful and that we are not dealing with a site dedicated to fraud, but rather with a perfectly legal platform.
How can I open a free Demo account and begin trading?
At IQ Option, registering a demo account is a simple process. It is quite simple. It is only necessary to visit the official website, click the registration button, and fill out the form with the requested information. It is necessary to be over the age of 18 for this.
IQ Option registration.
The following is a step-by-step guide for creating a demo account:
- Navigate to the trading platform’s main website: iqoption.com.
- In the top right corner, there is a register button that you must press.
This takes you to the registration page, where you must enter your name and surname, select your country of permanent residency, provide an email or phone number, and confirm that you are of legal age and accept the system’s terms and conditions.
Finally, click the button labelled “Open free account.”
You will be given immediate access to a demo account with a virtual fund balance of $10,000, which you may use to freely invest in the platform’s various financial instruments. This account allows you to practise using the system’s features until you feel confident enough to start trading with real money.
How do I begin trading with real money?
We can proceed to create a genuine account once we have completed the learning stage, know the tools, and are able to participate in the financial market with real money. There is also the possibility of trading two accounts at the same time, allowing us to test ideas before putting our own money at risk.
However, a clarification is required. The methods used in play money accounts can differ greatly from those used in real money accounts because a demo account typically has a full suite of tools and full access, but a real money account has constraints.
To circumvent these restrictions, traders must use a VIP account, which is only available to traders outside of the European Union and the United States. A standard account can be upgraded and converted to VIP status by depositing USD $3,000, which grants access to the entire rewards package, which includes:
- Support is available 24 hours a day, 365 days a year.
- Higher profit percentage.
- Exclusive monthly reports and ongoing guidance.
- Exclusive information, PDFs, digital seminars, electronic books, and much more are available.
How can I fund my account at IQ Option Broker?
Deposits at IQ Option are simple, and the platform does not charge a fee for them. To begin trading with real money, deposits of €10 are necessary, and businesses will have access to a range of banking alternatives to execute such payments:
- Deposits and Withdrawals
- Bank cards (Visa and MasterCard)
- Prepaid cards
Transfers and deposits to local banks
As previously stated, the minimum deposit is US$/£/€10, with a maximum amount of one million dollars/euros for individual investors. As with any other investing platform, it is vital to confirm that the funds are legitimate and not the result of money laundering activities.
It is also usual that when depositing or withdrawing large sums, a random identity verification process is started, in which the matching identity document must be sent to attest that the account belongs to a real person with a verified postal address.
How can I cash out on IQ Option?
Withdrawals are handled using the same payment methods detailed in the preceding section. Similarly, all payment methods are commission-free, with the exception of those used to receive money through a bank account, wallet, or payment processor, which is independent of IQ Option’s management.
There are no withdrawal limits; you can withdraw funds up to US$/£/€2 with immediate processing. Of course, it is vital to keep in mind that Skrill or Neteller receiving costs may exceed this amount, rendering such a small withdrawal cumbersome. However, this is a personal decision at the user’s risk.
All procedures are completed promptly, with the exception of a tiny fraction that may take an average of 11 hours, depending on several conditions. If you have any questions about this topic, you may contact the customer support service to get an answer or a solution that is suited for your situation.
What assets are available for trading on IQ Option?
Active IQ Option
The range of assets offered on IQ Option is pretty large and suitable for any inexperienced investor, but it will be insufficient in the hands of a skilled trader. The following assets are included in the asset offering:
It provides 167 shares from the world’s most prominent firms, ranked by factors such as capitalization, dividends, price, and industry. Nestlé, Wells Fargo, Apple, Facebook, Amazon, Microsoft Corporation, Daimler, and Google Inc. are just a few examples.
Trading operations can be built around 89 currency pairs, including CAD/TRY, AUD/NOK, NOK/SEK, PLN/SEK, and EUR/GBP, among many others. These are the most well-known and in high demand, but there is also the prospect of profiting from trading between pairs of currencies from emerging and lesser-known markets.
Indexes include the SSE, SMI, Nikkei, Nasdaq, S&P 500, Dow Jones, GER 30, DAX, and others. These are among the 11 major global indices that gather together the world’s largest corporations and in which you can invest to earn average profits across an entire industry or sector.
The offer when it comes to the commercialization of digital currencies is quite wide. Aside from Bitcoin, you can also trade Ethereum, Litecoin, IOTA, Ethereum Classic, Dash, TRON, Neo, Qtum, and Zcash. There are 15 cryptocurrencies available, which are traded in pairs against the US dollar.
Every investor will be able to invest in raw materials and precious metals such as gold (XAU), silver (XAG), copper (COPPER), platinum (XPT), and palladium (XPD), as well as WTI oil (USOil), Brent crude (UKOil), cubic metres of gas (NGAS), and even wheat.
ETFs (Exchange Traded Funds) or Exchange Traded Funds are one of the recently added tools. These provide a significantly lower risk than the previous assets, as well as the option of conducting varied monitoring of both raw materials and indices and assets, purchasing the required quantity, and then selling in the short term.