Do you want to start trading Options?
You must have considered online brokers you can join to trade options. In your online search, IQ Option and Binomo should have appeared severally, isn’t it so?
How about we compare and contrast the two to see which one is the better broker? I am sure you would love that, wouldn’t you?
At least it would clear the air on the best options broker to go for. Don’t you want that?
IQ Option Review.
IQ Option is a Cyprus based binary options broker which was launched in 2013. It has since grown fast and has a record of over 25 million users worldwide so far. That translates to a trading volume which exceeds $360 million monthly.
Interestingly, IQ Option is available in over 100 countries including your own.
Most IQ Option traders come from Latin America, Eastern Europe, South East Asia, and North Africa. However, IQ Option is not available in some countries like the USA, Canada, Japan, Israel, and others which are very few others.
IQ Options offers 2 types of accounts. You can register for a Standard account or a VIP account.
A minimum of only $10 is required to open a standard account. A standard account will enable you to earn real profits when you win, getting up to 90% returns per trade. You will also receive market and volatility alerts which are useful for accurate predictions.
Either a minimum deposit of $1,900 or having a trading volume of $15,000 within a period of 3 months is a prerequisite to having a VIP account.
A VIP account comes with a personal account manager.
In addition, you will get higher profitability on various assets, priority training, free IQ Option tournaments participation, and faster priority withdrawals.
It is also worth noting that VIP accounts are not available to EU traders.
In addition to these two accounts types, IQ Option offers a Demo account worth $10,000 of virtual money. You can always replenish these virtual funds once your account is depleted. Traders can use this Demo account to train trading forex in real market conditions risk-free.
IQ Option offers a wide range of assets to choose from.
It has over 400 assets that you can trade. These include over 74 Forex pairs, over 26 Cryptocurrencies, over 25 ETF’s, over 5 Commodities, over 53 Options and over 187 CFD’s.
Coupled with a low investment amount of only $1 per trade, IQ Options offers high returns. These returns range from 65% to 95% on Options trades. They can depend on the asset being traded, market volatility, and account type.
Are you worried about trader education?
IQ Options offers a great educational system that beginners can utilize to learn to trade forex. Experienced traders may also find the educational system useful in enhancing their skills in forex trading.
Most traders are worried about the safety and reliability of their brokers.
A broker needs to be licensed and regulated for the safety of clients’ money. IQ Option is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC), which is the most popular regulator of financial services.
Do you know what to be regulated by CySEC means?
CySEC holds client investments separate from broker money and maintains the investments with grade AAA banks. It also safeguards trader information through SSL certificates. Therefore, both your money and information are safe with IQ Option.
IQ Option supports multiple payment methods giving clients a wide range to choose from. The payment methods include;
- Mpesa payments for Kenya
- Bank Transfer.
- Mobile Money for Uganda
- WebMoney WME.
- WebMoney WMZ.
IQ Option will process your deposit within minutes especially if you deposit using bank cards or e-wallets. The minimum deposit for both platforms is $10.
Withdrawals are processed within 24 hours to 5 working days but VIP accounts enjoy faster priority withdrawals.
Withdrawals from IQ Option can only be made via the same method you used to deposit and the minimum withdrawal amount is $10. No withdrawal fees are charged.
IQ Option also offers a variety of trading platforms to suit the preference of all kinds of traders. Those who prefer Web browsers, Desktop, and Mobile apps are covered as well.
Join IQ Option via: –
A well-designed interface that is easy to navigate defines the IQ Option’s simplicity.
A whole lot of technical indicators and oscillators are available on the platform. These can be used to analyze charts leading to more accurate predictions and wins. They include;
- Parabolic SAR.
- Bollinger bands.
- Bulls power.
- Bears power.
- Rate Of Change.
- Ichimoku Cloud.
- Awesome Oscillator.
- Detrended Price Oscillator.
- Average Directional Index.
- And over 90 others.
IQ Option also has an awesome and knowledgeable support team that is always there for clients, operating 24/7. They can be reached via Phone, Email, Chat, and Social Media platforms like Facebook.
For existing clients, IQ Option offers tournaments that allow traders to compete and win cash prizes. Remember VIP account holders participate in these tournaments free of charge.
Binomo is a binary options trading broker located in Saint Vincent and Grenadines. It was founded in 2013 and has since grown into one of the best options trading platforms available to trade with. Besides trading, Binomo offers investment insurance, investment training, and analytical support to all investors.
To date, Binomo attracts over 887,470 daily active traders. This translates to over 30 million successful trades per week.
Does this broker work in my country?
Binomo operates in almost all countries except the USA, Israel, Canada, Japan, Australia, Turkey, Belgium, New Zealand, France, and Latvia.
Binomo offers 3 types of accounts. You can sign up for a Standard account, a Gold account, or a VIP account.
You require a minimum deposit of $10 to open a standard account.
If you trade with this account you will win real cash each time your prediction is right.
This account gives you a hands-on experience on Binomo trading.
The Binomo Gold account requires a minimum deposit of $500. And it gives you access to more assets, a personal account manager, and a weekly cashback of 5%.
In addition, you get a fixed profit of 86%, higher bonuses, and free education from professional traders.
The Binomo VIP account will need you to deposit a minimum of $1,000.
A VIP account enables holders to have access to all assets on offer, a personal account manager, exclusive features, and a weekly 10% cashback.
Moreover, withdrawals are processed in less than 4 hours and 100% bonuses are availed to VIP account holders.
In addition to the 3 account type, Binomo offers a $1000 virtual cash Demo account. This account type allows beginners to start forex trading by practicing on real market conditions without risking real money.
Binomo offers various assets for traders to choose from. These amount to over 50 different assets including Commodities, Stocks, Currency pairs, Cryptocurrencies, and Indices.
With a minimum investment of $1 per trade, you will earn 70% to 90% on correct predictions. The returns are tied to the account type, the asset being traded, and market volatility.
Are you worried about the safety and reliability of the broker?
Worry no more. Binomo is licensed and regulated by the Financial Commission (FinaCom). This is an independent organization that guarantees trader rights protection.
That is not all!! Binomo is also certified by the Center for Regulation of Financial Market Relations (CROFR). This means that you are not prone to scamming and financial market malpractices. Your money and trades are safe with Binomo.
Binomo supports various payment methods – including: –
- WebMoney WMZ.
- Perfect Money.
- Neteller e.t.c
- Minimum deposit KS 500
- Trade with KS 100
- Mpesa, Equitel & Airtel Money Accepted.
Binomo withdrawals usually take 3 business days to process for standard accounts. Withdrawals for Gold and VIP accounts are given priority and take 4 hours to 24 hours to process. The minimum withdrawal amount is $10.
Binomo will deduct a 10% fee on your withdrawal amount if you withdraw without trading a volume equivalent to at least double your deposit. This means that if your initial deposit was $10, you will only be able to withdraw free of charge if the total balance on your account is $20. If you attempt to withdraw when your balance is less, you will pay 10% of the amount you are withdrawing.
Binomo offers these two trading platforms for clients to choose from;
- Web browser.
- Mobile Apps.
These trading platforms are very interactive, user friendly, and very easy to navigate.
The Binomo trading platform offers more than 14 indicators for technical analysis to improve your prediction and win. These include;
- The Moving Average Indicator.
- Bollinger bands.
- Fractional Chaos Bands.
- Parabolic SAR.
- Awesome Indicator.
- Ichimoku Cloud.
- Among others: –
Binomo support team offers Chat, Email, and Social Media support. You can reach them 24/7 and you will find them very resourceful.
Between Olymp Trade and Binomo, Which broker is Best?
If you pay keen attention, you will realize that both brokers have a thing or two to offer. Binomo has a user-friendly interface and very awesome returns on trades. However, IQ Option is more reputable and has more worth.
Moreover, IQ Option has more trading platforms than Binomo.
Having said all that, it is clear that IQ Option distinguishes itself as the better broker.
- Available on all devices
- Demo Account Available
- Trading Signals Available