IQ Option Review – Can 20 Million Users be Wrong?

Summary

A favorite choice from the forex broker universe, IQ Option may possibly be described as a name that you ‘ve discovered. IQ Option is a forex broker which features various features. Why is IQ Option what your trading has ever already been desiring? Read on to discover more.

About IQ Option

IQ Option was set in 2013 by IQ Option Ltd. Since that base, the broker has exploded to become one of the popular choices from the business. They feature over 20 million users. That is striking given that the relatively young age of this forex broker. Through the duration of this IQ Option review, we’ll undoubtedly detail the features and offers of this broker and how these are acceptable for the forex future.

The corporation is established in Cyprus and is particularly regulated thereby CySEC. This is among the very rigorous regulatory bodies in the monetary industry and therefore guarantees that the broker remains exceptionally compliant with necessary regulations to use over the EU.

IQ Option Landing Page

Account Opening

IQ Option offers three account types for its traders and possible traders. It is possible to obtain started using analyzing the broker’s proprietary trading platform by simply opening a demo account. This will supply you with $10,000 virtual money to trade and also try out each of the platform attributes.

Moving Using This to an actual account, you will find two options available:

A normal account might be started that offers full trading use of more than 300 tools. A VIP account option is available which includes dedicated training material along with on-demand customer care.

Minimum Deposit

For a normal account, a deposit only 10 is adequate to start out up your accounts and start trading. VIP account starting demands a minimum deposit of $3,000.

Availability and Ease of Opening

IQ Option Deposit Methods

The before all else point to notice is there are always a couple of states where IQ Option doesn’t provide services, namely, all these really are, USA, Canada, Australia, Belgium, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea, and Russia.

For individuals of the other states, the account opening procedure is smooth and relatively simple to finish. The site offers up quite a quick and instinctive opening procedure. Traders open only 1 sort of trading accounts and also are motivated to produce a deposit. Should they don’t want to generate a first deposit, then the accounts style automatically switches into a demonstration. This subsequently reverts back to a live manner every time a true deposit was created.

Verification has to completely operate a true account, this may be quickly done in a couple of actions and comprises, email confirmation, phone affirmation, information that is personal entrance, and ID confirmation via email upload of one’s identification records.

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Product Offerings

As a portion of this IQ Option review, we’ve conducted exhaustive study regarding the product offers of this broker. What became evident is that IQ Option have become busy in supplying a wide assortment of stores available to traders. Where a few brokers concentrate mainly on money pairs, IQ Option has expanded their advantage to include offerings at the following regions:

  • Forex Currency Pairs (91 )
  • Options (113 – Across all stores )
  • Stock CFDs (173 )
  • Cryptocurrency (24 )
  • Indices (10)
  • Commodities (6 )
  • ETFs (21 )

This is a very wide selection of stores when compared to other big brokers. Fundamentally, it offers an outlet to encircle all sorts of trader. This can help explain the way a broker has managed to collect such a high numbers of traders at a rather brief time.

IQ Option Commissions and Fees

IQ Option Fees

As with lots of forex broker platforms, the IQ Option trading prices are all incorporated into the spread of a certain marketplace. Concerning big money pairings, this disperses ranges between 0.013percent – 0.026 percent, rising depending on the marketplace prevalence.

The equal goes when investing in different goods like shares, along with cryptocurrencies that charges a 2.9percent stake opening fee along with this disperse. These trading fees are considered relatively high compared to other brokers of a very similar prestige in the business. IQ Option additionally bill a varying swap fee between 0.003percent and 0.012% based on the position overnight.

Non-trading Fees

The broker charges a couple of kinds of non-trading fees. The most crucial of them begins with a 25 Euro commission on almost any withdrawal from bank transfer. They usually do not yet charge any penalties for withdrawals through payment services like Skrill, Neteller, and WebMoney.

The broker also protects an inactivity fee after 90 consecutive calendar days of non-trading. This dormant account fee is charged while in the sum of 50 Euro a month.

IQ Option Platforms and Tools

IQ Option offer their proprietary platform that’s available both within a downloadable or on-line background structure, in addition to being featured on both the Android and also iOS platforms to ease trading. At a rest from the typical scheme of brokers, the business doesn’t offer you any third-party trading platform alternatives.

Desktop Platform

IQ Option Chart Display

The stage provided by IQ option is obviously a stick out feature. Primarily, its visual appearance is more exceptional, and attracts trading platforms ahead of todays by a visual perspective. It’s highly user-friendly and intuitive. This is an excellent stock for your own business and creates the stage and its particular free-flowing nature hard to break apart from.

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Chart viewpoints are customizable and permit for the display of multiple stores, each comprising every one the essential statistics onscreen to produce easy and speedy trading decisions. Each graph has got the ability to produce a plentiful number of professional charting signs and tools if demanded.

On the other, there is certainly a selection of features including displaying a live text feed out of leading media sources, including economic calendars, as well as different analytic tools. That will be in tandem with various useful educational material and videos that are found to get and also see directly over the outside platform.

With its smooth-running, instinctive nature, also providing accessibility to all of the trading tools at an attractive display, this trading platform actually frees traders into the digital era of convenience and speed.

Mobile Platform

The IQ Option mobile-platform comprises a number of the exemplary features of this desktop computer platform, you start with the breathtaking design and userfriendly design. Multi-chart screens are simple to click and select and also the stage declines no technical ability in mobile number with the huge bulk of professional charting programs available.

Traders may additionally empower push alarms to send alarms with their own apparatus if certain marketplace requirements are reached. This produces the mobile-platform both accessible and simple to use for all levels of trader.

Differentiators

IQ Option Trader Competitions

For a stage that has just been in the scene for around five decades, IQ Option has been able to earn a major effect. This popularity and impact with the broker was received, is driven simply by the diversity of stores the provider provides, and also the userfriendly temperament of these trading platforms.

These factors work to make a totally immersive experience and are endorsed by a feeling of encouraging but aggressive community on the list of traders. That is exemplified throughout the hosting of “trading competitions” that users may enter to get a determined cost to compete to get the maximum sustainability along with other traders.

The additional societal element fits well with the stage also has a socket that further inspires now ‘s creation of traders.

Customer Service

IQ Option comes with a broad network of customer care options readily available to aid traders. These incorporate a telephone service that’s available 24/7 and positioned in 18 cities across the globe. Traders could telephone their community phone service location absolutely free of charge oftentimes.

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The broker offers an email service that generally responds to the equal day using precise and beneficial details.

The livechat service function that’s given through the business internet site, whilst appearing slick and simpler to participate with, will lack a certain amount of professionalism. Queries were answered in several minutes, even though communicating with the representatives was often confusing and hauled down from both grammatical mistakes along with a very inadequate relay of advice. This is one area for advancement over the IQ Option broker.

IQ Option Trustworthiness

IQ Option Awards

With over 20 million registered user account, and adapting for a number of the funniest principles in the financial industry since laid down by the highly admired CySEC which modulates the stage, there might appear that there is not any reason for concern among traders in regards to expecting IQ Option.

This sensation of confidence ought to be further enhanced with the amount of industry awards that the broker has received over its relatively short life span up to now.

Conclusion

Overall, considering the minimal period that the broker was in performance in contrast to industry competitors, they’ve achieved a stellar job of establishing a diverse and reachable supply to traders. The task with the currency trading platform is especially brave and striking when lots of new brokers might have only stuck with the thoroughly analyzed third-party platforms. IQ Option took a hazard in this region and triumphed.

Again the season on year increase are testament to the way traders believe about it stage, and even though they’ve any slight alterations to create, their general advancement might be considered exemplary. Being CySEC enrolled is a further augmentation to the reputation and brand with this broker dancing.

IQ Option

3.4

Trust

3.6/5

Commissions and charges

3.1/5

Deposits and Withdrawals

3.5/5

Trading Platforms

3.7/5

Customer Service

3.0/5

Pros

  • A huge assortment of diverse stores means that there ought to be trading services and products to match all tastes and experience degrees
  • Low minimum deposits around all of the account types create trading tremendously accessible to everyone
  • Extensive training and educational tools that reduce the learning curve for new and inexperienced traders
  • One of the simplest to use and aesthetically appealing trading programs from the industry

Cons

  • Relatively substantial prices compared to different brokers
  • Live discussion service Is Quite inconsistent and features a degree of professionalism
  • Lack of accessibility in numerous countries might defer several traders

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