IQ Option Review
|Support Types||email, chat, phone|
|Languages||EN, RU, PT, ESP, CHIN, Arabic, Indonesian|
|Minimum 1st Deposit||$10|
|Minimum Account Size||$10|
|Minimum Trade Amount||$1|
|Free Demo Account||Open Demo|
|Deposit Methods||Credit Cards, Money Wallets, Wire Transfer, PayPal, WebMoney, Qiwi, Yandex Money, Credit Card Deposit by Phone, Boleto, Skrill, Multibanco and Netteler|
|Withdrawal Methods||Credit Cards, Money Wallets, Wire Transfer, PayPal, WebMoney, Qiwi, Yandex Money, Credit Card Deposit by Phone, Boleto, Skrill, Multibanco and Netteler|
|Number of Assets||105+|
|Types of Assets||Forex, Commedities, Stocks, Indices, Bitcoin Index|
|US Traders Allowed|
IQOption does not use off-the-shelf platform provided by 3rd part companies but it has its own custom build and tailor-made platform. I found the platform quite intuitive and liked the technical analysis tools offered in-built within the platform. I tried their Android app for live trading and found it to be quite smooth in my galaxy S5. They do have App store app too but I have not tried that. If you are a demo trader,you can practice strategies from mobile platform when you are travelling or have spare time. I found latency of the real account platform comparable to leading providers like 24Option and Stockpair.
Minimum Trade and Deposit
This is almost the best feature about IQ Option. Apart from completely free demo account,you can start trading in real account for as low as $10.
IQ Option Demo
You can open a free demo account without making any deposit. Just fill use the link at the end of the page.
IQ Option Bonus
How to withdraw the Bonus
To prevent abuse of bonus offer, you can not withdraw the bonus outright after deposit.You have to meet the 25X of the bonus amount to be eligible for withdrawing the bonus.For example, to withdraw a $1000 bonus that was offered to you , you must have traded 25 times the amount of $1000 ie total of $25000 from the volume of the transactions (regardless of the number, the selected products, and the size of the traded positions).
You can always withdraw the deposit amount (after adjusting for gain/loss) at any time even if you accept bonus without meeting wager condition but you have to forfeit the bonus.
Note that you can refuse the bonus simply by not requesting for the same. In case your account manager gives you,you can ask him to deduct via email or chat.
Protection Against Fraud
As a fully EU regulated broker (CySEC-247/14), all traders are insured up to €20,000 by Cypriot investor compensation fund in case IQ Option goes insolvent. As per mandatory regulatory requirements, all clients funds are segregated in a third party financial institution (Clearing company). This provides the much needed protection against getting scammed by brokers. The withdrawal procedure is similar to other brokers. Traders are required to provide identifications to confirm the identity before first withdrawal. Credit card withdrawal processing takes 24-48 hours and bank wires are processed within 5 business days.
IQ Option withdrawal
In my personal case of withdrawal,it took around 72 hours to withdraw my money. My account was already verified so,I did not have to go through the verification process. Relationship manager called after 3 days of withdrawal asking for the reason but he was not too pushy and was quite professional. To be honest,I was bit surprised here.
Note that,the money must be withdrawn to the same source they originated in order to prevent money laundering. If you make profits and withdrawal amount is higher than initial deposit,then you can opt for other methods of withdrawal.Also, before you are able to withdraw, you have to provide identification documents, which is required by international anti-money-laundering rules. So,do not be surprised when they asked for Identification documents.
IQ Option Special Features,supported languages highlights
- Advanced charting- In house Platform.
- Pro Master-Technical Analysis with Indicators.
- Short-Term Trading for 60 seconds, 90 seconds,120 seconds and upto 60 minutes.
- Asset list of 180 forex, stocks,commodities, and indices.
- Special features : One Touch and Speed Trading, Rollover and Buy Me Out, .
- Available in all countries excluding United States and Cyprus.
- Supported Languages: English, Russian,Spanish, French, German, Italian.
IQ Option pays out up to 75-94% for normal High/low trading. Payout touches above 90% when both US and Europe market is open and low when there is very little news flow.
IQ Option Final Words
We deposited $500 and traded with them for a month to test their platform as we do with all brokers. I requested for withdrawal on a Monday and got the money back credited on Wednesday. My account was fully verified and they already had all necessary document with them. I will advise you to get your account verified before trading. They have very few negative reports but they are relatively few compared to others. I found one angry customers in complaints forum but his report did not go into any details.Personally,I did not face any issue with withdrawal even though I had made decent profit in a matter of month.
I have to say,it has most of the green signals for the requirements of a good broker . I like their free demo and advanced charting feature the most. One of the few brokers which treat binary options as trading rather than betting. I hope they implement long term expiry options soon. I would definitely recommend to check their free demo and start real account only if you like them.