IQ Option Review
One of the hardest things to do when it comes to trading binary options is to pick a site to trade them on. There are literally hundreds of choices out there depending on where you live. That is why we take our job of doing reviews so seriously because we know you don’t have the time to go through and look at all these sites to trade on yourself. Today we will take a look at an innovative and progressive binary options broker called ‘IQ Option’.
IQ Option first came onto the scene in 2013 and has gained a steady amount of investors since then. When we checked online we found the site gets very favorable reviews and is generally well thought of by those that have traded with them. The site definitely caught our attention when we discovered how much those that traded with them highly regarded this web broker. Here is our review of what we feel is a very well done and worthy site to trade binary options on.
We will walk you through everything from the signup to the site right on through to placing trades and customer support.
Online since: 2013
Max Returns: 91%*
*Amount to be credited to account in case of successful trade
Minimum Deposit: $10
Minimum Investment: $1
Maximum Investment: $3000
Currencies: USD, AUD, NZD, RUB, CAD, EUR, GBP, Yuan
Countries: All countries except Russia, USA, Canada, Australia, Belgium, France, Japan, Turkey, Israel, Syria, Sudan and Iran.
– Good variety of options
– Excellent returns
– Interface is very friendly
– Smallest minimum investment we have ever seen
– Regulated by the respected agency – Stand-alone demo account
– Interactive learning tools
– No customers from USA or Japan accepted
Binary Options Rating:
The landing page for signing up to the site is very straightforward and easy to understand and that was echoed in the actual signup process to access the website. We just had to fill out a simple form, verify our identity by providing some information and then make a deposit to gain access to use the broker for placing binary options trades. IQ Option was very similar to other web brokers we have signed up with and we found it a very simple process to get done.
Right off the bat we were amazed that all it took was a low minimum deposit of $10 USD or British Pounds to get started trading. That is just about the lowest deposit we have ever seen to enter into trading with a web broker; that type of dollar amount really lets anyone who wants to trade binary options do it despite their income level.
Video How to trade on IQ Option
Types of accounts
IQ Option likes to keep it simple and treat everyone fairly no matter how much they invest so there are only two different account levels on the website Here is what each has to offer:
- IQ Option Real Account
- This level account starts with a low $10 deposit.
- all assets are available to trade
- weekly webinars are included
- Real account holders can enter the web brokers trading competitions
- IQ Option VIP account
- This account requires an initial deposit of $3000 or more
- You will be assigned a personal account manager
We have been telling you all along that IQ Option is among the most innovative websites that we have ever come across. How do we know this to be true? How about the fact that they were the first to offer their account holders a free demo account to practice and learn on; it was a tool that sent a ripple effect throughout the industry as many online binary options brokers and binary option robot followed suit and added them to their list of learning tools.
Their free demo account helps those that trade with them learn how to operate the trading platform and it also teaches them the finer points of binary options trading before they enter the actual trading platform and start risking real money. Demo accounts offer site users a risk free introduction to binary options trading for sure. IQ Option’s stand-alone demo program even includes an educational webinar that goes along with it.
The excellent and innovative learning tools do not stop with the free demo account either. IQ Option was also one of the first sites to offer interactive learning for their users too. It is just another way to get ahead in the binary options trading market; the website truly believes that a well-educated binary options trader has a better chance of being a successful binary options trader.
If you like to have a lot of options as far as different assets to trade on your binary options then you have come to the right place. IQoption offers over 70 different options to trade on, many of which are popular stocks such as Wal-Mart, Google and Apple. They offer their users the ability to choose between stocks, indices, commodities and matched currency pairs to trade with. There is enough variety of assets that any level trader should be able to find ones they are comfortable trading and can place winning trades consistently with.
IQoption decided once again to be innovative and design a trading platform that they thought would really appeal to their many traders and be simple to use and understand. Well they did a great job at this. Their trading platform is among the best we have seen
It is laid out nicely and easily menu driven. It also has unique zoom and custom layout features which are quite unique to say the least. It is a platform that will appeal to all level traders to say the least.
The minimum investment is $1 and the maximum investment is $3000 dollars so it gives you and the other investors on the site a wide range of investment options you can use based on how confident you are in the trades you want to make and the amount of risk you want to go along with that.
All you need to do to place a trade is sign onto the website and go to the trading page. From there you select the type of option you want to trade, the asset you want to trade with the option and the amount you want to invest.
It is as easy to make deposits on IQoption because of all the different forms you can pay your deposit. They allow you to use such things as Visa, MasterCard, bank wire transfer, Skrill, POLI, Maestro, CashU and WebMoney to quickly make a deposit and get you onto the website to start trading.
As was mentioned before the minimum deposit of $10 is extremely low compared to the rest of the binary options brokers.
Making withdrawals is a very streamlined process also. They will generally be processed in 1-3 business days and they can be done in many of the same forms as was used to make your deposit. Keep in mind that in order to make a withdrawal the first time you will need to send scanned copies of your government issued ID, a scanned copy of a utility bill and a scanned copy of your signed credit card if that is the withdrawal method you are using.
There are fees from $5 – $10 depending on the withdrawal method, so you have to be careful there even though the minimum withdrawal is only $2.
Customer support was very helpful and very good at resolving issues but we had some problems with the way the customer service was handled. There is no phone or live chat option for customer service and we were more than a little surprised by this. It meant there was no way to get an answer to a question or concern in what would be a timely manner.
Of course you are assigned an account manager that can help you with any issues or concerns you have while using the site but they are not available 24/7 so at those times you may end up waiting for a response. We feel that IQ Option is ok here but there is definitely room for improvement.
This is the type of site that traders from the USA and japan would be thrilled to place trades on but unfortunately the citizens of those countries cannot trade on IQ Option; that is something that the site’s management may want to work on in the future.
There is simply a whole lot to like about the IQ Option broker. Their very low minimum deposit offers entry in to the binary option marketplace for just about anyone.
We also liked very much their innovative and forward thinking learning tools. It is very unique that their highly helpful demo account acts as a stand-alone account instead of being part of the regular trading platform; this enables the tech team at IQ Option to put features into the demo that make it more closely resemble the actual trading on the real website. The interactive learning tools will help you get ahead of the learning curve faster than more traditional learning tools also.
It is really easy to see why IQ Option became so popular so fast. We loved that they were courageous and innovative enough to build their own web platform for their many users to trade on. We also give high marks to any site that is confident enough in their business practices to allow regulation.
They back everything up with outstanding customer support and the high marks that get on reviews like this show their commitment to help those that trade with them be successful and leave them with a positive trading experience. Simply put, we give this binary option broker a big thumbs up and would recommend any trader of any knowledge level to give them a try. You surely won’t be disappointed if you do.
To indicate IQ Option won us over and impressed us a whole lot would be making a big understatement to say the least.
Customer Service: Email: [email protected]
Languages: Indonesian, Turkish, Portuguese, English, Spanish, Italian, Russian
Trading Options: High / Low, 60 second and others
Assets: Currencies, Stocks, Indices, Commodities
Early close: No
Expiry Times: 60 second, 2minutes, 5minutes, 15 minutes, 1 hour and End of Day
Deposits and Withdrawals: MasterCard, Visa, Skrill Moneybookers , Bank Wire transfer, Maestro, POLI, WebMoney and CashU
Withdrawal Time: 1-2 days
Demo account: Yes