IQ Option Complete Broker Review 2023 [Legit Or A SCAM?]
IQ Option is a popular trading platform that has gained much attention recently. IQ Option is a popular choice for both novice and experienced traders due to its user-friendly interface, competitive fees, and diverse trading options.
This blog provides a detailed review of IQ Option, including its features, trading tools, fees, and customer support.
With this blog, you will clearly understand whether IQ Option is the right broker for your trading needs. So, let's dive into the details of this IQ Option complete broker review.
What Is IQ Option?
IQ Option is an award-winning online trading platform that allows users to trade various financial assets such as Forex, Stocks, ETFs and Options. The platform has a clean and intuitive interface designed to meet the needs of even the most demanding traders.
IQ Option also offers mobile apps for Android and iOS devices, allowing users to trade on the go. Additionally, IQ Option provides educational resources such as video tutorials, webinars and news digests to help traders stay informed about the markets.
With its user-friendly design and competitive fees, IQ Option is one of the fastest-growing online trading brands in the world.
Opening An IQ Option Account
To get started, go to the IQ Option website and click on the ‘Sign Up’ button at the top right corner of the page. You will then be asked to provide your email address, password and phone number. Once you have entered this information, click the ‘Create Account’ button to complete the registration process.
IQ Option offers its clients two types of trading accounts: Standard and VIP. Both accounts offer a range of trading features and benefits, but they differ in terms of the services and privileges that they offer.
A Standard account is suitable for beginner traders who are just starting in the financial markets. It offers the following features:
- Minimum deposit: The minimum deposit to open a Standard account is just $10, making it accessible to almost anyone.
- Maximum leverage: The maximum leverage offered on the Standard account is 1:1000, which is quite high and can be risky for inexperienced traders.
- Trading instruments: Standard account holders can trade a variety of assets, including Forex, Stocks, Cryptocurrencies, and more.
- Education materials: Standard account holders have access to a variety of educational materials, such as video tutorials, webinars, and trading strategies.
- Customer support: Standard account holders can contact IQ Option's customer support team via live chat, email, or phone.
The VIP account is designed for experienced traders who are looking for more advanced trading features and personalized support. It offers the following features:
- Minimum deposit: The minimum deposit to open a VIP account is $1900, which is significantly higher than the Standard account.
- Maximum leverage: The maximum leverage offered on the VIP account is 1:500, which is lower than the Standard account but still quite high.
- Trading instruments: VIP account holders have access to a wider range of trading instruments than Standard account holders, including VIP-only instruments.
- Personal manager: VIP account holders have a dedicated personal manager who is available to provide personalized support and trading advice.
- Exclusive events: VIP account holders are invited to exclusive events, such as seminars and webinars, that provide access to trading experts and networking opportunities.
- Higher payouts: VIP account holders can earn higher payouts on their trades than Standard account holders.
|Minimum Deposit||$10 (or equivalent currency)|
|Minimum Trade||$1 (or equivalent currency)|
|Withdrawals||Processed within 24 hours; no withdrawal fees|
|Security||SSL encryption, two-factor authentication, and licensed|
|Assets||Wide range of assets including forex, stocks, and crypto|
|Trading Tools||User-friendly trading platform and advanced charting|
|Account Types||Demo account available; real account with varying perks|
|Education||Free educational materials and trading tutorials|
Trading On IQ Option
IQ Option is a powerful online trading platform that allows users to trade Forex, Stocks, ETFs & Options easily. With its intuitive interface and wide range of features and tools, IQ Option makes it simple for anyone to start trading online.
Once your account is created, you can begin trading by selecting the asset type you want to trade in. You can choose from Forex, Stocks, ETFs & Options.
Trading Forex Using IQ Option
IQ Option offers over 32 major, minor and exotic currency pairs for you to trade. You can also use advanced trading tools such as leverage up to 1:30 and reloadable demo accounts with $10,000 virtual funds.
To get started with Forex trading on IQ Option. Then select the currency pair that you want to trade from the list of available pairs.
After that, set your desired position size and decide whether you want to buy or sell the pair. Finally, click ‘buy’ or ‘sell’ depending on your decision.
Trading Stocks Using IQ Option
To start trading with IQ Option, use the search bar on the app or browse through the list of available stocks on the platform to select the stock you want to trade in.
Once you have identified a stock, you would like to invest in, place an order by selecting the type of order (market or limit), the number of shares, and the price at which you would like to buy or sell the shares.
After submitting the order, you can monitor their position in real-time using IQ Option's live charting feature.
Trading ETFs Using IQ Option
IQ Option offers a wide range of ETFs for trading in over 15 different markets, giving traders access to the US, European, Japanese and Asian markets.
To start trading ETFs on IQ Option, select the ‘ETF’ tab in the left-hand menu and browse the available options.
Once you’ve chosen an ETF to trade, select ‘Buy’ or ‘Sell’ depending on whether you think the price will go up or down. You can also set stop loss and take profit orders to manage risk.
Trading Binary Option With IQ Option
When trading with IQ Option, you can choose from four charts: lines, candlesticks, bars and Heikinb-Ashi.
Depending on your preferences, you can select the chart type that best suits your needs. For example, if you are looking for short-term trades, candlestick charts may be more suitable than line charts.
Once you have selected the chart type that best suits your needs, you can start placing trades using either market or pending orders.
Market orders are executed immediately at the current market price while pending orders are placed at a predetermined price level which will be triggered when the market reaches that level.
The Advantages Of Using IQ Option
IQ Option is a leading online broker offering Forex, Stocks, ETFs & Options Trading trading services. Here are some of the features offered by IQ Option:
- Low Fees: IQ Option prides itself on having some of the lowest fees in the industry for both deposits and withdrawals.
- User-Friendly Interface: The platform has an intuitive and user-friendly interface that allows users to trade various assets easily.
- Charting Tools: Advanced charting tools help traders identify market trends and make informed decisions when placing trades.
- Technical Indicators: Dozens of technical indicators are available to assist traders in evaluating market conditions and spotting potential opportunities.
- Automated Trading Robots: With automated trading robots, traders can set up automatic trades to take advantage of lucrative market trends without needing to monitor them manually.
- Mobile Applications: Mobile applications allow users to stay connected with their accounts while on the go and manage their funds quickly and easily.
- Tutorials & Webinars: Educational materials such as webinars and tutorials are available to help users develop their trading skills.
IQ Option Mobile App
The IQ Option mobile trading app is a powerful tool that allows users to access the platform on their mobile devices, whether they are using an iOS or Android device.
The app has a easy to use interface that makes it lucid to navigate and trade. It includes a wide range of features, such as real-time quotes and charts, technical analysis tools, and customizable indicators.
The app also allows users to manage their trading accounts, view their transaction history, and set up alerts for price movements.
One of the key features of the IQ Option mobile app is its demo account, which allows users to practice trading with virtual funds before risking their own money. This feature is especially useful for novice traders who are still learning the ropes.
The IQ Option mobile app also offers a range of educational materials, including video tutorials, webinars, and trading strategies. These resources can help users to improve their trading skills and make more informed decisions.
IQ Option's Trading Platform: Powerful And Intuitive For Novice Traders
The trading platform offered by IQ Option is a powerful and intuitive online trading platform that allows users to trade a wide range of financial instruments, including stocks, cryptocurrencies, forex, and options. The platform is designed to be accessible, even for novice traders.
One of the key features of the IQ Option trading platform is its customizable interface, which allows users to arrange their trading dashboard according to their preferences.
The platform also includes a range of technical analysis tools, such as trend lines, moving averages, and Bollinger Bands, as well as customizable indicators.
The platform also offers a range of order types, including limit orders, stop loss orders, and take profit orders. This allows traders to manage their risk and lock in profits, even if they are not actively monitoring their positions.
Another important feature of the IQ Option trading platform is its real-time quotes and charts, which allow traders to stay up-to-date with the latest market movements.
The platform also offers a range of timeframes, from one-minute charts to monthly charts, which can be customized to suit the user's trading style.
Is IQ Option Safe?
IQ Option is regulated by the Cyprus Securities and Exchange Commission (CySEC) and has been in business since 2013. IQ Option offers various financial instruments, including Forex, Stocks, ETFs & Options Trading.
The platform provides an intuitive interface with advanced charting tools to help traders make informed decisions. IQ Option provides a comprehensive security system to protect users' funds and data from unauthorized access.
Does IQ Option Charges Platform Fee?
In certain situations, IQ Option may charge a platform fee. If an account is inactive for 90 consecutive days, IQ Option will charge a €10 fee.
They may also take 'Swap Fee' or 'Overnight Funding', which can range from 0.01% to 0.5% of the face value of the position left open overnight. Lastly, an inactivity fee of 10 euros hits after ninety days of inactivity.
When you make deposits into your trading account, IQ Option does not charge any fees, but there is a minimum amount you are allowed to deposit.
Does IQ Option Incur Any Fees On Transactions?
IQ Option does not charge any fees for deposits and withdrawals. However, some payment methods may incur a fee from the payment provider. For example, credit card payments are subject to a 3.5% fee. Additionally, there is a $31 commission for wire transfers.
How Does IQ Option Generate Revenue?
IQ Option generates its revenue through fees associated with trading on the platform. This includes commission fees, spread fees, and withdrawal fees.
IQ Option charges a commission for each trade executed on the platform. The commission rate is determined by the asset traded and the type of order placed (limit/market). Additionally, commission fees vary depending on whether you are an individual or a professional trader.
IQ Option earns money through spread fees when users trade certain assets such as forex and cryptocurrencies. A spread fee is a trader's cost when buying or selling an asset. The amount charged depends on market liquidity, volatility and the bid-ask spread for each asset.
IQ Option also charges a withdrawal fee to cover processing costs. The amount varies based on the currency exchanged and the payment method used to process withdrawals.
Overall, these fees make up revenue for IQ Option which helps them sustain operations and continue providing services to their customers.
FAQs Regarding IQ Option Complete Broker Review
Can You Make Money IQ Option?
Yes, you can make money with IQ Option. When trading on the platform, you can earn profits by correctly predicting the market movements of the traded instruments.
What is the minimum deposit for IQ Option?
The minimum deposit for IQ Option is $10. This amount will cover the initial trade cost and allow traders to start trading with real money immediately.
Does IQ Option Charge Monthly Fees?
No, IQ Option does not charge any monthly fees. The only costs associated with trading on the platform are spreads, commissions and withdrawal fees.
What Account Types Are Available On IQ Option?
IQ Option offers four different account types: the Real Account, VIP Account, Islamic Account, and Demo Account.
What Security Measures Does IQ Option Employ?
IQ Option employs various security measures to protect traders, including encrypted data transmission, SSL certificates and 2-factor authentication. All customer funds are held in licensed European banks separately from company funds.
IQ Option is a reliable and safe trading platform offering plenty of advantages. It offers an innovative online brokerage that allows online traders to maximize their potential with advanced digital options that offer high returns, helpful support services and enhanced security protocols.
It is a smooth platform where traders can focus on testing their strategies and taking advantage of market opportunities without worrying about security risks. With its low fees and wide range of payment solutions, IQ Option has become one of today's most popular trading platforms.
Whether you are a new or experienced trader looking for an efficient way to join the financial markets, this IQ Option complete broker review provides everything you need to get started and continue your journey toward becoming a contemporary trader.