One of the most modern and comfortable binary options trading platforms, which was developed by a group of leading traders, analysts, and IT specialists allows IQ Options to offer high level trading opportunities to both professional and novice binary options traders. The platform offers classical binary options in different asset categories (indices, currencies, stocks), as well as the now popular turbo options (60 seconds).
1. IQ Option – a broker for everyone
2. Advantages and disadvantages
CySec regulated: this broker is regulated by CySec, which guarantees that all services are provided following the EU regulations.
Convenient trading platform: it is the company’s own platform, which allows them to maintain and upgrade it, adapting it to the needs of the traders.
Low minimum deposit: one can start trading with a deposit of as little as $10 with a minimum bid of $1.
Demo accounts: this company offers each registered user an opportunity to develop their trading skills, test their strategies, and get used to the trading platform without having to pay a deposit.
Trader competitions: with the help of frequent tournaments, the company has managed to build their own trader community, where each trader is motivated to develop their trading skills and win some money. Such tournaments take place every week. There are both free tournaments, and tournaments where you need to pay a participant’s fee.
A limited number of commodities: at the moment the only commodities offered by the broker are gold and silver. Let us hope that the company is going to continue making more trading instruments available to its traders.
3. Trading conditions
IQ Option offers some of the best trading conditions as compared to other binary options brokers on the European market. The minimum deposit threshold is $10, while the minimum bid can be as low as $1. It also offers numerous ways of money depositing/withdrawal which includes a variety of payment systems.
Clients are offered two types of trading instruments, which can be differentiated by their expiration date. Classical binary options have their expiration dates varying between 15 and 60 minutes, while ‘turbo’ options will last between one and three minutes. Short term options will allow you to vary your trading strategy and also catch the moments of high volatility, profiting from short-term market fluctuations.
4. Underlying assets
IQ Option offers a choice of more than 80 assets, which include currency pairs, biggest international stock indices, stocks of individual companies, and precious metals. Such a wide selection covers most classes of financial assets and provides traders with an opportunity to select trading strategies to meet their personal preferences taking into account risk and profitability. We hope that in the future, the company will continue adding to the existing selections, as at the moment the number of assets is still slightly inferior to the selections offered by other large binary options brokers.
5. Trading platform
It is worth mentioning that unlike many other companies, IQ Option have invested into their own trading platform, which has been developed in-house to meet the needs of the company’s clients. This platform keeps gaining praise and receiving numerous awards for its highly user-friendly interface; among them, the “Most Innovative Binary Options Broker” prize from Show FX World and “Best Trading Platform” from Forex Award.
IQ options trading platform works equally well on PCs and mobile devices. Its interface is based on dynamic graphs, which show the development of asset prices in real time. One of the main differences between the IQ Option platform and those of most other binary brokers is the set of extra functions, such as zoom in/out on different parts of the chart, drawing lines, curves, and other figures on the graphs. The side panel on the left can be set up to display trading history, live leader boards, news feeds, or even educational materials.
6. Mobile Trading
IQ Option trading app for tablets and smartphones is definitely worth a mention. It allows you to stay ‘in the market’ even when you are not at work. This mobile platform is almost as functional as its full version, the only difference lies in the layout and the size of separate elements of the interface. This platform is available to Android and iOS users and is downloadable for free from Google Play and the App Store.
7. Demo account
A free demo account becomes available as soon as you have created your personal account and gives you access to a virtual case of $1000. It allows you to perform all types of trades that are available for users with real accounts. This allows traders to test their trading strategies and get used to the platform without having to deposit any money. It is worth noting that the company has recently introduced a possibility to top up demo accounts, which means that if you lose all the virtual money, you will be able to add more virtual money. In any case, it is advisable to test one’s strategies using very small sums of money ($1-5 per trade) to get the real flavour of the market as soon as possible.
8. VIP accounts
Traders that are familiar with binary options are offered to register the so-called VIP accounts (read more on the IQ Option site), which give access to such extra services as free access to regular updates on trading signals, a personal manager, and faster funds withdrawal (within 24 hours). VIP accounts are available with deposits of over $1000.
9. Opening an account
Any demo account can easily be turned into a real one by depositing some money. In this case the virtual sum on your account will disappear and your balance will equal your deposit. In order to open a real account, you need to click on the green button in the top right corner of the broker’s homepage, or by clicking on the same area in the top right corner of the demo account trading interface. The process consists of two stages – creating an account (skip if you already have a demo one) and depositing money. The first step can also be done using your Facebook, Google+, or Gmail accounts. Money can be deposited through a bank card (Visa, MasterCard) or through some of the most popular digital payment systems.
10. Funds withdrawal
Funds can be withdrawn in any of the ways indicated above for deposits. To initialise withdrawal, one needs to apply from the account area, providing one’s personal information and the preferred means of withdrawal. Applications usually take up to three working days to process; and during this time the company may request additional documents to secure the transaction. These may include a scan of an ID document, for instance. The status of your application can be traced in your personal space on your account.
11. Trader training
IQ Option focusses quite a lot on increasing the level of financial awareness and trading skills among their clients. One can find numerous interactive learning materials on their website. In addition, the company runs weekly online seminars designed for both beginners and more advanced traders. Apart from that, we’d like to mention a short training course that is aimed at helping one learn to use the trading platform. It can be accessed from the “Video tutorials” section of the “For traders” menu on the broker’s home page. The course consists of 9 chapters, demonstrating the principles of operation and the elements of the trading system of the broker.
12. Should I trade with IQ Option?
IQ Option is a ‘universal’ broker that has made trading convenient and accessible both to novice and experienced traders. The latter will appreciate the perks of the VIP accounts, as well as the sets of functions to help customize the graphs, as well as quite usable mobile applications. However, the slightly limited selection of core assets may also limit the choice of one’s trading strategy. Novice traders will gain the most from using this platform - the minimum deposit threshold is low, and there is a fully functional demo account (which is quite a rarity among binary options brokers), as well as a user-friendly and flexible platform with lots of learning materials.