How to Fund your IQ Option Trading Account.
Have you been practicing on an IQ Option demo account?
Are you now comfortable trading with real money?
I want to show you how to deposit money into your IQ Option account because let’s face it, you cannot place trades without funds on your live account.
This reminds me:
As for how to do that, it is beyond the scope of this guide.
Now, if you have been using the practice account for a while, and wish to switch to a real account, follow the process outlined below.
How to switch from IQ Option demo account to real account.
- Click on the account balance.
- You’ll be presented with options (Demo/Live).
- Click on “Live” account
And that’s it.
You are in.
One problem though.
As mentioned earlier, you cannot place trades on the IQ Option trading account if you haven’t deposited funds on it.
The big question is:
How much can you deposit on IQ Option to start trading and what’s the easiest way for deposit?
As it turns out, you do not need thousands of dollars to start trading on IQ Option. With just as little as $10, you are on the way to making profits.
This is the lowest deposit amount in the binary options industry. Others require up to $100 and in some instances $250 depending on the type of account.
How to deposit money on IQ Option.
IQ Option gives you several options to choose from which include
- Credit card or debit card.
- Wire transfer.
Let’s look at each of these options.
Depositing money on IQ Option using credit card or debit card.
This is one of the quickest and most convenient ways of depositing IQ Option.
The following cards are accepted
- Visa Electron.
To use the above bank cards, follow these steps.
- Click on the “deposit” button just next to your account balance.
- Choose your preferred payment method. In this case either credit or debit card.
- Enter the amount you’d love to deposit.
- Key-in your card details: cardholder name, expiry date, card number, CVV, or CVC code.
- Click “Pay” and see your IQ Option account balance immediately reflect the deposit amount.
Advantages of making a deposit using a bank card.
- No additional or hidden charges.
- Funds reflect almost immediately.
- IQ Option accepts a wide variety of bank cards.
How to deposit on IQ Option using wire transfer.
Wire transfer refers to the electronic transfer of money from one bank account to another and then to the recipient’s account.
Because of the bank-to-bank transfer, the security of your funds is guaranteed.
Federal authorities monitor these accounts and require personal identification which includes a physical address to complete such transactions.
While this comes in handy when making a deposit, it also means that your funds won’t reflect as fast as you’d want to on your IQ Option trading account.
Otherwise, depositing on IQ Option using wire transfer works best for moving a large sum of money.
Pros and cons of using Wire Transfer to deposit money on IQ Option.
- Suitable for moving a large sum of cash to your IQ Option account.
- Security is tight.
- Keeps you from spending money you do not have as in the case of using a credit card to deposit on IQ Option.
- Slow due to security checks. And that’s what makes it a suitable mode of money transfer.
- This also means in the case your IQ Option account has zero funds, you cannot rely on it to get back to trading almost immediately unlike using bank cards.
How to use eWallet to make an IQ Option account deposit.
Popularly known as a digital wallet, eWallet is experiencing a growing demand from shoppers.
And this is for a reason.
You see, eWallets offer a hassle-free, secure, and convenient mode of the online transaction.
The following are some of the popular digital wallets accepted on IQ Option
- Skrill– leading payment solution trusted by millions of online shoppers around the world.
The system supports over 40 currencies so there is a high chance that your country’s currency is supported.
Owning a Skrill account allows you to make deposits, withdraw money using ATM or move money into your bank account
- Neteller– an online payment system that has weeded out all the money transfer headaches.
With it, you can seamlessly deposit money or withdrawals from various ATMs around the world.
- WebMoney– offers an online payment system where you can pay, withdraw, and even top-up funds. It also allows you to have more than one account (known as purses) to hold different types of currencies.
Unfortunately, IQ Option is yet to include PayPal and Mpesa as a mode of deposit and withdrawal.
How to Fund your IQ Option Trading Account with e-Wallets.
- Click on the deposit button in your trading account.
- Choose a real account.
- Select Skrill, Neteller, or WebMoney on the next window.
- Enter the amount you’d wish to deposit then click continue.
- Proceed by filling the details requested depending on the eWallet you chose.
If you are depositing with Skrill, enter your email address and password then click on the login button to complete your payment.
Pros and cons of using eWallet to fund IQ Option account.
- No extra costs.
- Fast and secure with fewer headaches.
- You can access your funds anywhere provided you have reliable internet.
- In some rare cases, you can lose your funds if a security breach occurs. But the big word is IF. Digital wallet companies invest a lot on securing their wallets
- Some of these eWallet have a tedious account verification process. With some even suspending your account till you verify your identity
How to Fund your IQ Option Trading Account With Bitcoins
This is the latest addition to IQ Option payment options.
Bitcoin is a digital ‘currency’ in form of cryptocurrency that can only be bought, sold, and transferred online.
To possess Bitcoins, you first have to create a bitcoin wallet where you will be issued with a specific wallet address that you can use to make deposits and withdrawals.
Follow these steps to deposit money on IQ Option using Bitcoins.
- Click on the deposit button on the trading room, then proceed to input the deposit amount.
- On the payment methods list (found on the right), choose Bitcoins.
- Once you click on ‘PROCEED TO PAYMENT,’ you’ll be redirected to the Cubits – processing provider-payment page.
- Look at the invoice amount and its Bitcoin equivalent. Remember, confirmations of the transaction only last 15 minutes. And if you do not confirm before this duration elapses, you’ll have to start afresh.
- As soon as Cubit confirms your payment, IQ Option credits your account with the amount.
Pros and cons of using Bitcoin as an IQ Option payment method.
- High security hence reduced risks for traders.
- You control your money since there is no central authority like a central bank.
- No extra costs.
- Volatility – the biggest downside of using Bitcoin to deposit funds on IQ Option. As in, the price of Bitcoin might fall or increase any moment affecting your deposit amount.
As we’ve discussed, these IQ Option deposit methods come with pros and cons. You should, therefore, go for a payment method that suits your needs.
For instance, if you are transferring a large sum of money, Wire Transfer is suitable because of its security. But on the downside, it is also slow.
Having said that, depositing money on IQ Option isn’t the final, you will need to make a withdrawal. And you want to do it with less hassle using method that has an eye on the security of your funds.
For this reason, I have written a guide on how to withdraw money from IQ Option. Click on the next article to learn how.