Managed and owned by IQ Options Europe Ltd, IQ Option is a financial services provider based in Cyprus. Appointed a Cyprus Investment Firm (CIF), the trading platform falls under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC). It is authorized to provide financial services to customers from the European Economic Area (EEA) under license CIF # 247/14. The trading platform first went live in 2013 and since then, it has grown rapidly. With a minimum minimum deposit requirement of $10 and a free demo account, IQOption has truly made online trading accessible to everyone.

Rules & Reputation

Over the years that it has been in operation, Pilihan IQ has won numerous awards praising its service quality and reliability. Today, it has been recognized as one of the leading brokers in the industry. To enhance its image as a reliable broker, traders will be pleased to know that IQOption is a regulated broker under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC) under the name of the holding company IQ Option Europe. As a regulated broker under CySEC, this means IQ Options is also a MiFID compliant broker. In other words, IQOption is allowed to offer its services to customers within the EEA. Another benefit for clients regulated by CySEC is the fact that IQOption is also a member of the Investor Compensation Scheme. Under this scheme, each IQ Option client’s funds are protected up to a maximum of 20,000 euros. But for traders located outside the EEA, their accounts are managed by a separate sister company called IQ Option Ltd. The company is based in Mahe, Seychelles and is regulated by the Seychelles Financial Services Authority (FSA).

Trading Platform

Instead of choosing a standard trading platform, IQ Options has chosen to provide its clients with a proprietary platform designed specifically to meet their trading needs. The same platform is used for CFDs and for binary options trading. Well designed to be user-friendly, the platform has a large chart that is very helpful for traders who want to monitor the situation in the market. In addition, the platform comes with a wide selection of trading tools that are not usually available on any binary capable trading platform. Some of the advanced trading tools we can see are popular technical indicators such as Moving averages, Bollinger Bands, MACD and RSI. The brand often adds new features to the platform to offer traders more flexibility. One such feature is the ‘top-up’ position. This allows the trader to open a trade if it approaches the stop loss. It gives traders more scope to allow trades to recover before closing. It must be used with discipline, but offers traders risk management or new trading strategy options.

Mobile Commerce

For traders who cannot stay at their trading terminal for a long period of time, they can install a mobile trading application that has been provided for free by IQ Option. A mobile trading application that has been designed specifically for smartphones and mobile devices, allows traders to check the status of their accounts, stay updated with all developments in the market and execute trades.

Trading Account Offered

Unlike most CFD and binary brokers, IQ Option only chooses to offer 3 types of trading accounts, a standard trading account, a VIP account and a demo account. To open a standard account, only a minimum deposit of $10 is required. As a VIP trading account, you need to place a minimum deposit of $ 1900 (or currency equivalent) – but hit a trading volume of $ 15000. Both types of trading accounts entitle traders to participate in IQ Option’s weekly trading competition. However, a VIP account will benefit the account holder with additional trading benefits such as free participation in trading promotions, an additional 3% return and a personal manager service. Potential traders who want to try out the platform can start by signing up for a demo account. It is provided for free and does not require any “pre-deposit” as some brokers require their clients to do in advance. This demo account has been loaded with $1000 practice money that you can use to execute your practice trades.

 

 

In accordance with CySEC regulations, IQ Option no longer offers any kind of deposit bonus. The only type of promotional offers that traders at IQOption can participate in are trading contests that they can participate in for an entry fee. Prizes for the competition range from $100 to around $100,000.

Assets On IQ Option

Currently, traders at IQ Options can trade in 90 different types of assets. They consist of a selection of currency pairs, market indices, stocks and commodities. Recently, Option IQ has also added 12 different types of cryptocurrencies for its customers to trade. The list of markets available for trading continues to grow. Recently, the firm expanded its stock and share list and took a total of over 150. Expect this expansion to continue in all areas. IQ also spreads the market across all products, so things like Oil, Gold and Silver are added to the list of Digital trading assets. The minimum trade size varies by product. So binary and digital options can be opened for $1, but Forex CFDs have a minimum trade size of $20,

FX options

FX Options is a very new product. So new, that it is currently only available in five major currency pairs. Available in the regulated EU market, they offer fixed risk investments, similar to binary options. There is one expiration for each FX option and the potential payout depends on the price of the underlying asset. So where a trader believes a strong price move is about to happen, the payout reaches 2000% and more. When the approach expires, the payout will increase because this option is affected by the same delta, and gamma values ​​as traditional options. There is a $30 minimum trade placed on FX options, but they can be sold at any time until expiration. So if a trader has carried either a call or a put, both can be sold before expiration to either lock in profits or cut losses. This is a good way for EU traders to continue to access fixed risk trading. As the product becomes more popular, IQ will definitely expand the range of markets and expiration times (currently only 1 hour expirations are available).

 

 

Cryptocurrency Multiples

Another innovative product presented by IQ is Multiple Cryptocurrency. This works effectively like a leveraged trade, so price movements in the underlying asset are magnified. IQ Options first introduced this idea with Bitcoin x 100. This amplifies price movements by 100 times, creating huge opportunities – and risks – for traders. The product is so popular, that IQ has developed the concept for Ethereum, IOTA, Ripple and others. The multiplier factor is from x20, to x50 and x100 on Bitcoin as mentioned. Currently, this product is only available to Non-EU dealers.

Trading Costs and Fees

IQ Options is transparent with their fees and costs. To see what trading at IQ will cost you, you need to consider:

  • Spread – The difference between the buy and sell price. This changes often and will depend on volatility, liquidity and even the time of day.
  • Exchange Fee – This is the fee charged for positions held overnight. Charges vary from 0.1% to 0.5% and will be higher when positions are held on weekends.
  • Dormant Account Fee – If the account is inactive for 90 days, IQ will begin to request a fee of € 10 (or currency equivalent) every month, taking account of the account balance above zero.
  • Withdrawal Fees – There are no fees for the majority of payment service providers, but bank transfers will attract a charge of $31 (or currency equivalent).
  • Commission – On certain cryptocurrency trades, a commission of 2.9% will be charged. This charge does not apply to other assets.

User support

One of the main highlights of IQOption is their customer service. To ensure that traders at IQOption can get the help they want when the need arises, the broker has provided its support service 24/7. They can contact the support team via email, live chat or phone. For the benefit of traders whose mother tongue is not English, IQOption has also translated their website into different languages.

Deposit & Withdrawal

For trading account funding at IQOption, the broker has provided support for several methods of fund transfer. These methods include transfers via credit card, ewallet and bank wire transfer. Credit cards accepted include VISA, Mastercard and Maestro. As for eWallet options, they include popular wallets such as Neteller, Skrill, Perfect Money and Webmoney.

 

 

To withdraw funds, traders can also use the same method they used to make the deposit in the first place. Processing of withdrawal requests usually takes one business day but can be as fast as a few hours if the withdrawal method is done by eWallets. For credit cards and bank wire transfers, the entire withdrawal process can take up to 10 business days to complete. Growth in the Asian market has also led IQ Option to expand their reach in the region. As a result, bank transfers are now possible from various banks in this area: Thailand – Bangkok Bank, Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, Bank of Ayudhya, Government Savings Bank, TMB Bank. Indonesia – Central Asia, Indonesian Nation, Indonesian People, CIMB Niaga, Mandiri. Vietnam – Vietcombank, Asian Trade Bank, Bank for Investment and Development, Techcombank, Vietin Bank, Sacombank, Donga Bank, Eximbank. Malaysia – Maybank, Hong Leong Bank, RHB Bank, Public Bank, CIMB Bank, AmBank Philippines – Help2Pay – Supports BDO (BDO Unibank) and MTB (Metrobank) South American options also expanded: Brazil – Jeton Wallet (Boleto Bancario), and AstroPay (Boleto, Itau, Bradesco, Banco do Brasil, Caixa, Santander) Argentina – AstroPay (Supported banks; Pago Facil, Santander, Banco Galicia) Perfect Money can also be used throughout South America, including Colombia. Perfect Money is actually also a legal option throughout Nigeria and Pakistan, as well as parts of Europe. The token will also support IQ Option traders from India and various banks serving South African traders have also been added.

Is IQOption suitable for day trading?

One of the most important factors to consider when looking for a broker to conduct day trading is looking at the types of instruments available for trading. With IQ Options since the broker offers CFDs that allow traders to open and close their market positions at any time, it is the ideal broker for day trading. In addition, the broker is well regulated and this helps ensure that your money will be handled professionally and ethically.

Frequently asked questions

What is the minimum deposit requirement to open a trading account? The minimum deposit on IQOption is $10. How quickly can my withdrawal request be processed? Withdrawal requests on IQOption typically take one business day but in a few hours. Is IQOption a reliable broker? Yes. IQOption is a reliable broker and regulated by CySEC. What types of trading platforms are available in IQOption? IQOption uses a proprietary type of trading platform. What is the maximum leverage available on IQOption? The maximum leverage offered by IQOption is 1:500 for non-EEA members. EEA traders will see leverage capped at 1:30. However, EEA traders can register as professionals – this means that regulatory limits do not apply to their accounts.

Accepted Countries

IQ Options accepts traders from Thailand, United Kingdom, South Africa, Singapore, Hong Kong, India, France, Norway, Sweden, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and many other countries. Traders cannot use IQ Options from the United States, Japan, Israel, Turkey, Belgium, Russian Federation, Australia, Canada, Germany, Italy, Netherlands, Romania, Spain.