IQ Option broker review
IQ Option is a relatively new options broker that specializes in binary options. They offer their services worldwide, including countries as Russia and Korea. IQ Option has a very modern website with a professional impression… continue reading
|Founded in the year||2013|
|Main office based in||Cyprus|
|Contact possibilities||Email: firstname.lastname@example.org, phone, through contact from on website|
English, Italiano, Norsk, Bahasa Melayu, Deutsch, Svenska, Türkçe, Español, Français, Português, Pyccĸий, 한국어, 中文
|Trading platform||Own developed trading platforms|
|Minimum first deposit||€10|
|Minimum amount traded||€1|
|Maximum amount traded||€5,000|
|Welcome bonus||20% to 100% bonus on first deposit|
|Pay out information||Up to 92% on standard options|
|Leverage||Not applicable to binary options|
|Spread||Not applicable to binary options|
|Demo account||Click to open a Demo account|
|Regulated by||Regulated by CYSEC|
|Extra fees information||There are no hidden fees involved in options trading at IQ Option|
|Available accounts||Real money, Demo account, VIP account|
|Methods of deposit||Bank transfer, Visa, MasterCard, Paypal, Skrill/Moneybookers, Webmoney, Qiwi Wallet, EasyPay, TeleMoney, Pinpay Express|
|Methods of withdrawal||Bank transfer, Visa, MasterCard, Paypal, Skrill/Moneybookers, Webmoney, Qiwi Wallet, EasyPay, TeleMoney, Pinpay Express|
|Number of tradable Assets||75|
|Types of tradable assets||Trade options on Forex, commodities, indices, and stocks with IQ Option|
|Option types||Higher/lower options, binary options, digital options|
|Expiration times||Expiration times vary from 60 seconds to one week|
|US traders allowed|
|Trading on smartphone|
|Trading on tablet|
IQ Option is a new option broker that specializes in offering binary options worldwide. The website is available in many languages, including English, Arabic and Russian. Anyone around the world can create an account with IQ Option, including investors and day traders from countries like Russia, Korea, France and Germany. The mother company of IQ Option is Infofield Premier Limited and is based in Nicosia, Cyprus.
Compared to other binary option brokers the website of IQ Option looks very professional and has a modern outlook. The IQ Option trading platform is self-designed and in the beginning it may be a bit hard to understand, but once you have mastered the trading platform, you will truly see the benefits of this trading platform. IQ Option offers an unlimited demo account which allows you to test various option strategies and practice with the IQ Option trading platform for free.
Within one minute you can start trading on IQ Option. The only requirements to open an account are your name, surname, telephone number and email address. These are very few requirements compared to other brokers, who sometimes ask for as much as 3 pages of information. Also, it is not required to send a copy of your passport or ID card or a recent copy of an electricity or telephone bill if you wish to open an account at IQ Option.
In order to open and use the demo account, you don’t need to make a first deposit or to contact the customer service, which is required by some other brokers. In addition to the link to open a real money account there is also a link to create a demo account at the IQ Option website. You can also directly use the “open demo” link in our broker review. Traders can switch between Real and Demo within one account. Besides, it is possible to test trading strategies 100% risk free. The minimum deposit amount, in case you want to trade with real money, is the lowest among all brokers on globaltrader24.com, with just 10 Euro or the equivalent in another currency. There are no costs associated with depositing and withdrawing from IQ Option.
IQ Option trading platform
When you load the IQ Option trading platform for the first time, it may at first seem a little confusing. At the top you’ll see a system of tab pages. There is just one single type of option (higher/lower). The tabs have nothing to do with navigating between different types of options. You can click on “New Option” to open a second option trade while you are still busy with the settings for the first one. Under the tabs you see a big button with which you can sort out your assets. For example, you can search for a stock, commodity, index or bitcoin and then set an expiration time. The short-term expiration times available on IQ option are 1, 2, and 3 minutes. IQ Option is therefore very suitable for short-term option traders.
On the left side under the assets button you can choose the amount you wish to invest in an option. The biggest advantage of IQ Option compared to all other binary option brokers on globaltrader24.com is that you can bet with as little as $ 1. Other binary option brokers often require a minimum of $ 5 to $ 10 per option. Since recently, there is a unique feature on IQ Option; a bar allows traders to determine the percentage they want back in case there trade goes wrong (Return Percent). The higher you set it, the less your payout will be if the trade goes right, but the more you get back when you’re wrong. You can set the Return Rate from 0 to 60%! Payouts on options can be up to 90% if you set the Return Rate to 0% and will decrease to about 58% to 62% if hedge yourself to the max. Extremely useful, once you understand it (and will soon enough), is a green and red bar indicating the percentage chance you will be right or wrong. This bar is located underneath the Return Percent button.
All in all IQ Option is a really interesting binary options platform with 64 tradable assets, including Bitcoin. Unfortunately, IQ Option does not offer futures at this moment. Besides, it is a pity that IQ Option does not offer trading tools such as an early close, double up, and rollover, but with very short expiration times from 60 seconds to 3 minutes this is actually not really necessary. Education on the website is minimal but anyway it is not clever to look for education material on the website of the broker you are trader with. If you want education or help you don’t need to look further than our website. We have a large section of very useful articles and trading courses which explain a wide array of topics, including binary option strategies.
IQ Option also has a beautiful mobile application and is accessible on Android and iOS devices. The platform looks very nice on tablets as well, though I sometimes feel that when I’m on Wi-Fi on my iPad, there is some delay in my open trades.
IQ Option bonus
*Important: IQ Option no longer gives deposit bonuses to new traders as of 2017!
IQ Option offers a very limited bonus on first deposits. In my opinion, this is not too bad at all. You would think: if I deposit 10 Euros, I would certainly like to start trading with 20 Euros, but hey, you can’t withdraw the bonus until it is unlocked. IQ Option tries to be different from other brokers and gives a very minimum bonus of 20%, with very little unlocking requirements. As a VIP ($ 1,000 + first deposit) you can even choose how much bonus you want, from 20% for inexperienced investors, to 90% for advanced options traders. The reason I suggest it like this, is that if I know I’m going to deposit $ 5,000 on IQ Option, I go for the maximum bonus of 90%, because I know that with the additional money I will be depositing in the future, I will unlock the bonus anyway.
IQ Option free tournaments and investment competitions
IQ Option regularly organizes tournaments for investors in which you can participate for free. These investment competitions often have prizes between $ 250 and $ 1,000. That would be some nice extra pocket money , if you manage to be the best binary option trader or end up in the top 10.
24/7 options trading, even during holidays
With IQ Option it is possible to trade binary options 24/7, even during holidays. This is unique because the majority of binary option brokers only offer trading 24/5 or from 9 to 9. Even during holidays clients can trade at IQ Option because there is then acted opposite each other in place of the market.
Personal Account Manager
From an initial investment or cumulative deposit of $ 1,000 or more you will get a personal account manager that helps you improve your binary options trading skills. Together with your account manager you will learn to apply bankroll management strategies as well as various risk hedging strategies.
IQ Option reputation
IQ Option was founded only recently (2013) and it could well be that you haven’t heard much about IQ Option previously. I therefore encourage investors to share their experiences directly with me or on this website so that others know about this broker from real users. The only strange thing I’ve been able to discover at IQ Option is that they claim to be contactable by Skype but when I tried to contact them there was nobody there.
IQ Option review conclusion
IQ Option has pros and cons. The absence of long-term options and some major assets are some downsides. There are many deposit and withdrawal methods available on IQ Option. The unlimited demo account is another great advantage when compared to other brokers. You can carry literally practice for weeks with virtual money before you decide to make a first real deposit. It’s also nice that when you make a deposit, it doesn’t have to be more than 10 Euros. There is no other broker with a lower minimum deposit. If IQ Option manages to add some useful tools to its trading platform it would be certainly one of the better binary options brokers.
Start trading today!
This broker requires a minimum deposit of just €10, which is far lower than any other broker. Besides, you can practice infinitely with a free demo account.
- Low minimum deposit of just €10
- High payout on standard options of up to 92%
- Unlimited practice with a free demo account