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IQ Option is one of the most popular online trading platforms in the world. It offers a wide range of financial instruments, such as binary options, forex, stocks, ETFs, commodities, and cryptocurrencies. But is IQ Option a scam or a legit broker? How does it compare to other brokers in terms of fees, features, regulation, and customer service?
In this IQ Option review, we will answer these questions and more.
What is IQ Option?
IQ Option is an online trading platform that was founded in 2013 and is based in Cyprus.
Calculate your binary options profits here
Trade History
It is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is authorized to operate in the European Economic Area (EEA) and other countries.
IQ Option claims to have over 50 million registered users from 213 countries and territories.
To make trading seemless for it’s traders, it provides a proprietary trading platform that is available on web browsers, desktop applications, and mobile apps.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
The IQ Option trading platform is user-friendly and intuitive, with various tools and indicators for technical analysis. The platform also supports multiple chart types, time frames, and graphical tools.
What Can I Trade on IQ Option?
IQ Option allows traders to trade with different types of financial instruments, such as:
-
Binary options:
These are contracts that allow traders to predict whether the price of an underlying asset will be above or below a certain level at a specific time.
The payout depends on the direction and magnitude of the price movement. Binary options have a fixed expiry time and can be as short as 30 seconds or as long as one month.
Compare brokers here:
-
Forex
This is the market where traders can buy and sell currencies.
Forex trading involves speculating on the exchange rate fluctuations between different currency pairs and it’s done with leverage, which means that traders can control larger positions with a smaller amount of capital.
-
Stocks
These are shares of ownership in a company.
Stock trading involves buying and selling stocks based on their price movements and dividends and it’s done with CFDs (contracts for difference), which means that traders do not own the actual stocks but only profit or lose from the price changes.
-
ETFs
These are funds that track the performance of a basket of assets, such as stocks, bonds, commodities, or indices.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
ETF trading involves buying and selling ETFs based on their price movements and dividends. ETF trading is also done with CFDs.
-
Commodities
These are physical goods that are traded on global markets, such as gold, oil, wheat, coffee, etc.
Commodity trading involves buying and selling commodities based on their price movements and supply and demand factors. Commodity trading is also done with CFDs.
-
Cryptocurrencies
These are digital currencies that are powered by blockchain technology, such as Bitcoin, Ethereum, Ripple, etc.
As of 2017, IQ Option accepted traders from 151 countries including: –
Find the rest of the List on the IQ Option Website.
How to Trade with IQ Option?
To start trading with IQ Option, you need to register an account on their website or app. You can sign up with your email address, phone number, or social media account.
When done, you will be required to verify your identity and address by uploading some documents, such as your passport, ID card, bank statement, or utility bill.
IQ Option will verify your account and allow you to choose to trade with a demo account or a real account.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
A demo account allows you to practice trading with virtual money without risking any real money.
A real account on the other hand allows you to trade with real money and access all the features and instruments of the platform.
To trade with IQ Option, you need to deposit some funds into your account. The minimum deposit amount is $10 for most payment methods and deposits can be made using various methods, such as credit cards, debit cards, e-wallets (such as Skrill, Neteller, WebMoney), bank transfers, or cryptocurrencies.
Trading on IQ Option
To place a trade with IQ Option, you need to select an instrument from the list on the left side of the platform.
Use the search bar or the filter options to find your preferred instrument then see the chart of the instrument on the right side of the platform.
To open a trade with IQ Option, you need to set trading parameters, such as:
- The amount you want to invest in the trade
- The direction you think the price will move (up or down for binary options; buy or sell for other instruments)
- Trade expiry time for binary options or the leverage for other instruments
- The stop loss and take profit levels for other instruments
After setting these parameters, click on the green button (for up/buy) or the red button (for down/sell) to execute the trade.
You will see your open position on the screen and when the time for the trade expires, you will be paid.
What are the Pros and Cons of IQ Option?
IQ Option has some advantages and disadvantages that you should consider before trading with them. Here are some of the pros and cons of IQ Option:
Pros
- User-friendly and modern platform
- Wide range of financial instruments
- Low minimum deposit and withdrawal amounts
- Competitive spreads and commissions
- Various payment methods, including cryptocurrencies
- Educational resources and tutorials
- 24/7 customer support via phone, email, or chat
- Regulated by CySEC and authorized in the EEA and other countries
Cons
- Not available to traders in the US, Canada, Japan, Australia, and some other countries
- Limited time frames and indicators for technical analysis
- High leverage and volatility for some instruments
- Some complaints about withdrawal delays and platform glitches
Is IQ Option a Scam or a Legit Broker?
IQ Option is not a scam but a legit broker that is regulated by CySEC and authorized in the EEA and other countries.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
In fact, it has been in the online trading industry since 2013 and has gained a reputation as one of the leading brokers in the world. IQ Option has also won several awards and recognitions for its platform, services, and innovation.
However, this does not mean that IQ Option is risk-free or suitable for everyone.
Trading with IQ Option involves significant risks, especially when trading with leverage, CFDs, or binary options. You should only trade with money that you can afford to lose and never invest more than you can handle.
You should also do your own research and due diligence before trading with IQ Option or any other broker.
How to Join IQ Option
- Visit the IQ Option website or download the app.
- Click on the “Sign Up” button and fill in your personal details, such as your name, email, and password.
- Verify your email address by clicking on the link sent to your inbox.
How to Use Skrill-Mpesa to Deposit in IQ Option in Kenya.
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).
Step 1.
Click the deposit button on your sidebar.
Step 2.
Select Skrill from the payment options > select the amount you want to deposit then click go to payment.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
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
You 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.
IQ Option Email.
Is IQ Option a Scam?
Basing our argument on overwhelmingly positive reviews that we have seen online and on social media platforms about this broker, we 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 an upfront warning about the risk of trading which most brokers don’t do.
Basing our argument on overwhelmingly positive reviews that we have seen online and on social media platforms about this broker, we say it is genuine.
That coupled with the fact that it is open and puts everything about the platform out there for public knowledge.
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
And not to mention that it already gives an upfront warning about the risk of trading which most brokers don’t do.
Risk Warning.
When trading any of the underlying assets on IQ Option know that the market is volatile and you can lose 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.
Share this
- Start trading with $1
- Earn up to 95% profits
- Fast payments
- $10 minimum deposit
- $10 minimum withdrawal
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5 Responses to “How to Make Money With IQ Option | Beginner Guide”
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IQ Option is a lot of things; different, fun, innovative, fair, transparent, multi-regulated, etc. but it is not a scam. The broker has also been in operation for a while, and has a good record.
The title of the article read, a complete guide to trading. I expected to gain some insight into the world of trading but the article is really about getting started at IQ Option.
IQ Option is really easy to navigate, and the UI is very responsive. No glitches and or hanging of the platform.
The article pretty much has everything covered. It has helped in answering so many questions that non traders usually ask, and if you want to try out the broker, there is a demo account that you could use.
Iq option in Kenya is becoming popular and popular in trading circles.
While using the IQ option I’m feeling as if in a dream. Thanks to this trading platform, it is invincible. Also it’s known for its convenient interface, making it suitable for everyone. You can trade assets, which providing a range of choices. I started with a small capital, but I am now earning 10 times more than my investment. As far as I understand from the reviews of IQ option, everyone is satisfied like me.
I don’t know about the other assets, but trading forex here is truly simple and can be profitable.