As a personal finance writer of Forex, Options and financial instruments; the question that I am asked the most is if a broker is legit. And if it is genuine, most traders still go ahead to ask about the trading conditions which make a broker stand out from the rest.
Admittedly I have had to answer a few questions here and there about IQ Option too? And it is quite important that today we review the platform.
So expect all info about this broker, scam checks and certainly a genuine thought why IQ Option is the best in Options Trading, Forex and ETF’s
But even as you prepare to take that great first step, remember: –
Your Capital May Be at Risk
What is IQ Option Trading
IQ Option is a simple trading platform that allow online clients to trade Forex, Option and ETF’s on various instruments across all popular assets (cryptocurrencies, stocks, indices, currency pairs and commodities).
The company was founded in 2013 and it has since grown to gain over 25 million traders over the years.
Currently IQ Option does over 1, 800, 000 trades per day where traders withdraw over $10, 800, 000 per month.
As at 2017, IQ Option accepted traders from 151 countries including: –
Afghanistan Albania Algeria Andorra Angola
Antigua and Barbuda Argentina, Armenia Azerbaijan Bahamas
Bahrain Bangladesh Barbados Belarus Belize
Benin Bhutan Bolivia Bosnia Botswana
Brazil Brunei Darussalam Burkina Faso, Burundi
Cabo Verde Cambodia Cameroon Central African Republic Chad
Chile China Colombia Comoros Congo
Costa Rica Cuba Democratic Republic of the Congo Djibouti Dominica
Dominican Republic Ecuador Egypt El Salvador Equatorial Guinea
Eritrea Ethiopia Fiji Gabon Gambia
Georgia Ghana Grenada Guatemala Guinea
Guinea Bissau Guyana Haiti Honduras India
Indonesia Iraq Ivory Coast Jamaica Jordan
Kazakhstan Kenya Kiribati Kuwait Kyrgyzstan
Laos Lebanon Lesotho Liberia Libya
Find the rest of the List on IQ Option Website.
Is IQ Option Legit?
Of course it is. This is if to go by the fact that it is licenced and regulated by the Cyprus Securities and Exchange Commission (CySec). A body which regulates brokers in European Union among other jurisdictions.
To obtain such licences a broker has to meet specific minimum requirements which IQ Options supersedes – including: –
Safety of Client Funds – money to be kept in a secure account that which is separate from broker business.
Protection of client data – IQ Option is fully SSL encrypted – this protect trader data from any potential hacks.
Details of Assets Available For Trading in IQ Option
1. Stocks – IQ Option has 168 stocks that are available for trading in the platform. These include stocks by major companies such as Apple, Amazon, Microsoft among other listed corporations
2. Options – With IQ Option users can Call Option (Buy) or put Option (Sell) different trade instruments across a varied assets range.
3. Forex – IQ Option Offers a huge range of currency pairs both for the traditional Forex trading and Cryptocurrencies.
4. ETF’s – Also Exchange Traded Funds are marketable securities that track a stock index on a range of assets. Prices of ETF’s change throughout the day as they are bought r sold. I IQ Option there are 21 ETF’s available for trade.
5. Cryptocurrencies – IQ Option allows users to trade over 10 cryptocurrencies which include all the top cryptos – Bitcoin, Ripple, Ethereum…
6. Indices – Traders who believe that particular stocks can increase overall in the future or in a short period of time can also speculate on particular indices in the market. IQ Option Offers 11 options to trade indices.
7. Commodities – You may also want to trade in the primary economic sectors by speculating changes in the prices of commodities such as wheat, gold, silver, platinum among other commodities. IQ Option offers 6 commodities for traders.
Signing Up With IQ Option
There are so many easy ways that you can use to sign up to IQ Option – including signing up through Facebook, Google or simply click on the image below to register. You will be redirected to your new account with $10,000 demo units which you can use to practice for free. On real market conditions.
Only note that demo accounts are solely for the training purpose and you can not withdraw any profits you make off your forecasts. On the brighter side, it’s risk free (you don’t loose real money with demo accounts)
Types of Trading Accounts in IQ Option
Real Accounts – IQ option live accounts are activated with a minimum deposit of $10. This also introduces you to over 70 options instruments to trade on either commodities, currency pairs or stocks.
If you win you can withdraw your winnings and receive them within 24 hours. IQ Option minimum withdraw-able amount is $10.
VIP Accounts – VIP accounts are activated when traders make a lump sum deposit of $3,000. This opens up more features to the trader like trader getting a personal account manager, monthly reports on trading performance among other gifts and benefits.
IQ Option Trading App
IQ Option platforms also have chats and messaging tools that you can use to seek help without ever leaving your trading platform.
Even more amazing is there integration of educational materials and videos to the platform making it easier to learn anything about trading from anywhere in the world.
How To Use VISA to Deposit in IQ Option
Step 1 – Login to your account or create an account if you don’t already have one.
Step 2 – Click on the deposit button on the sidebar
IQ Option has 6 payment options available – including AdvCash, Neteller, Skrill and Webmoney.
But for the purpose of this subtitle we will use VISA. So click on the VISA button, choose the amount you’d like to deposit (from $10) then click the green go to payment button on the page.
A blank VISA card image will pop up. Fill in the required card details then click pay
Note that IQ Option does not charge deposit commissions. Neither do they charge commissions on withdrawals.
How to Use Skrill to Deposit in IQ Option
If you want to receive your funds faster when you withdraw then the best deposit option would be either of the online wallets.
For the purpose of this subtitle we will show you how to make deposits to IQ Option with Skrill. If you are in Kenya you can as well fund your Skrill account with Mpesa first (this option works for Neteller too)
Click the deposit button on your sidebar.
Select Skrill from the payment options > select the amount you want to deposit then click go to payment.
You will be redirected to a new page where you will enter your skrill login details.
Your deposit will be processed when you click the login button.
IQ Option Contact Details
Your can contact IQ Option through a number of Channels including Email, Live Chat, Contact forms or landline calls. The platform responds to all queries within 46 seconds.
If you’d like to get personal care with the fastest response rate, upgrade your account to VIP. which guarantees a personal account manager.
Is IQ Option a Scam?
Basing our argument on overwhelming positive reviews that we have seen online and on social media platforms about this broker, I’d say it is genuine. That coupled with the fact that it is open and puts everything about the platform out there for public knowledge. And not to mention that it already gives upfront warning about the risk of trading which most brokers don’t do.
When trading any of the underlying assets on IQ Option know that the market is volatile and you can loose so much money online. To avoid that, take your time trading with the demo account to learn more about the platform. Also do your research about any service which you don’t understand before risking your money. Above all only risk what you can afford to lose.