IQ Option is currently the top binary options trading platform in the market as far as we are concerned. Their trading conditions are highly legit placing them firmly in the lead among all other binary brokers. All research and tests lead us to believe they are not a scam and value their customers. The feeling of security is backed up by licensing and regulation from CySEC, one of the industries leading regulatory bodies.
IQ Option was founded in 2013 and has become a universally recognized platform specializing in binary options trading. Their user-friendly platform is proprietary, placing them as the front-runner of all brokers. Although relatively new, it’s obvious to see that they are already at the top of their game, with their impressive yet simplistic website and on-the-go mobile app.
Accommodating 13 different languages, they continue to push themselves to stand out within the online trading market. If you are new to the scene, there is no need to panic; they’re here to not only guide you through the site but also educate each user so that they have all the relevant information to help them make an informed decision about each trade.
Currently, IQ Option offers its traders the highest trading payout amongst the leading binary options firms. While there are an array of special trading features that place them at the top of their game, how do you know if this broker is for you? Do they offer all the benefits of trading that will make your experience the best it can be? We dig deeper into what makes them one of the front runners in online trading.
In this review, you will learn:
- What makes them stand out from the others
- The different types of accounts available
- How to trade with their bespoke mobile app
The IQ Option demo account allows investors to trial the binary trading world, practising with $1000 money for free. Of course, with this option comes limitations such as only having 13 trading assets available. Other trading restrictions apply, but this is a free demo account, and it educates and helps build the confidence of all new beginners. Benefits include no deposit, no telephone details and no credit information.
Aimed at those who have built up their confidence and knowledge through the Demo Account, the Real Account opens up a plethora of different options to users. There are more than 70 trading assets available, and you will have full access to all trading opportunities. Deposits are as low as $10, and traders can compete with other like-minded trading enthusiasts in virtual competitions. Withdrawals are fast and are usually processed in 1 business day.
VIP members are royalty among traders. They have all the benefits that are given to Real Account holders such as 77 trading assets, but many more valuable features also come with being a VIP. All VIP members have a personal manager assigned to them. Access to withdrawals is under 24 hours, allowing you access to your money faster than other account holders.
Trade Types And Payouts
It is common knowledge among binary brokers that one of IQ Option main strengths are their payouts to users, with most traded assets seeing a profitable trade out of around 84%. Of course, this is never a guarantee, as payouts depend on expiry times and the asset that has been selected.
The trading platform is very intuitive, and you can begin trading as soon as you log onto the site and navigate your way to the trading page. Once you get there, all you have to do is select the type of trade option you would prefer, the asset you want to trade and then finally, the amount you would like to trade. They have purposefully designed the website in such a way that it is nearly impossible for users to get confused. As it stands, there are two types of trading on offer. The classic binary option which is called/put and then the turbo option.
This classic option is where users have to decide whether they expect the price of an asset to be higher or lower than the current level by the expiry time. They have expiry times more than 15 minutes.
Turbo options are entirely different from the latter. Turbo Options have their expiry time ranging from 30 seconds up to 5 minutes. Often this is an option usually preferred by the more experienced trader.
With most traded assets seeing a very profitable trade out amount of around 84%.
Bonuses And Promotions
There isn’t a broad range of bonuses available to account holders at this broker. Due to new regulation for EU Based CySEC licensed brokers they are no longer allowed to offer bonus incentives to new traders. As a result, all bonuses previously offered by CySEC EU brokers have been stopped.
There are plenty of promotional videos to be found online, and IQ Option invites its users to watch free educational demos by real-life traders, allowing you to gain tips and gather experience from the professionals. Once you build up your confidence with trading, you can also enter competitions and compete with fellow traders for guaranteed prizes.
The mobile app is currently #1 in 28 countries according to the App Store Ranking (Feb 2016) available from both the Apple app store but also the Google Play store too. Available on iOS (iPhone and iPad) and even Android. One of the key reasons for its success is the impressive yet simplistic features that it provides for users, making trading possible anywhere you can get an internet connection. Although this is an app, don’t have any fears of missing out on crucial information that you would otherwise see on a desktop.
The app covers all the necessary details, laying it out in a mobile-friendly manner so that no mistakes take place with the press of a wrong button. Trading on the go is rapidly becoming more and more popular. IQ Option is available on both Android and iOS devices, and you can download it through the app above stores or the provider’s website.
The mobile app features mirror those of the web-based platform and are simple yet offer high functionality. They haven’t cut any corners in the quality of graphics, and the overall impression of the app reflects the quality of IQ Option’s global standards.
Deposits And Withdrawals
When it comes to their extensive deposit and withdrawal options, they do set themselves apart from all other brokers. You can make a deposit or withdrawal using all major debit and credit cards as well as having the option of wiring the money across. IQ Option prides itself on its high-level security, making each transaction as stress-free as possible for the user. The site follows strict financial regulations making sure it is always abiding by the European banking safety rules.
Withdrawals are simple and can be done both on the desktop and mobile app. It usually takes around one business day to process the withdrawal of funds unless you are a VIP member where it will take less than 24 hours. If you ever find yourself having deposit or withdrawal problems you can call the customer service team 24/7 who will help you out in an extremely efficient and friendly manner.
Frequently Asked Questions
Is IQ Option legit, will they scam me?
Every broker that we recommend is legitimate. We review them all to ensure that they are regulated and licensed and that they operate within the terms of their licensing.
Do they have a decent mobile or tablet app?
An app is an essential factor for many traders who prefer to trade on the go; they do offer a mobile app both on the App Store and on Google Play Store, so there is something for both iOS and Android.
What bonus do they offer for new traders?
Sadly, they no longer offer bonuses. The lack of a bonus is mainly due to CySEC EU regulation which states new investors cannot be offered bonuses.
Can I start trading on a free demo account?
The demo account is one of the preferred demo accounts as it requires no deposit. You don’t need to enter your credit card details to register and use a demo account.
What’s the minimum deposit and trade amount?
The minimum deposit to open a trading account and start trading is just $10. With a minimum trade of $1, the real beginners can gently move into real trading without spending large amounts of money.