71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.
|Convenient trading platform||Slow customer support|
|Variety of offerings||Country restrictions|
IQ Option is a multi-functional trading platform, founded in 2013 and managed by IQ Option Ltd, located in Cyprus and regulated by CySec, does not accept users from Afghanistan, Albania, Australia, Belarus, Belgium, Canada, the Czech Republic, Iran, Israel, Japan, Latvia, North Korea, Palestine, Portugal, Russia, Spain, Switzerland, Syria, Ukraine, the UK, and the USA.
IQ Option has refocused its product offerings and now gives its customers access to CFDs, stocks, cryptocurrencies, ETFs and forex. As a result, its customer base has grown to 90 million global customers.
From the very beginning of its activities, the company has significantly expanded its range of tools.
The company has different trading fees; they are divided into fees when transferring a position to the next day – they vary from 0.1% to 0.5%. And also fees are charged on some cryptocurrencies in the amount of 2.9%.
IQ Option has a multilingual support service that works 24/7, you can contact it through email, phone and online chat.
The IQ Option website has many training resources that can benefit both beginners and experienced traders.
These include various videos, webinars and tutorials. Users also have access to a number of e-books and a FAQ section that covers the most common questions.
The company gives its customers a number of types of accounts:
A regular account has a minimum deposit requirement of 50 Euros – in this account the client will have access to 240 assets.
A free Demo account is available for all customers.
Institutional and professional traders should contact Customer Support directly.
The maximum leverage available to customers is 1:30.
IQ Option provides its customers with access to more than 30 currency pairs and stock CFDs for over 190 different companies registered on the NASDAQ and NYSE.
ETFs are a relatively new product, but currently customers can choose from approximately 20 different ETFs.
In addition, IQ Option has access to cryptocurrency trading – 12 major cryptocurrencies, including Bitcoins, Ethereum, Litecoin, Ripple, Monero, Zcash, Omisego, IOTA and Dash.
IQ Option has its own developed platform. The same platform is used for CFDs and for trading using the same mobile application. The mobile application runs on the Android and Apple iOS operating systems. It is available for download via the Apple Store or on Google Play.
In general, IQ Option is a very modern, regulated platform with a competitive offer for trading. The site is transparent, functional and intuitive.
Trading on the site is usually quite convenient, and the platform uses an intuitive user interface that is easy to navigate.
The platform and the trading application are functional enough for professional traders, as well as simple to allow new participants to seamlessly learn the trading process.
IQ Option is a fast-growing company, already has more than 90 million customers.
The IQ Option of today barely resembles the operation people remember from a couple of years ago. They have now focused their offering to the most popular tradable assets, including forex, stocks, ETFs and cryptos.
Is IQ Option Regulated?
The company behind IQ Option, IQOPTION EUROPE Ltd, is the possessor of a CySEC license. The license number is 247/14. This EEA (European Economic Area) license means that IQ Option are MiFID compliant and as such, they can provide services to several countries of the EEA.
As a CySEC licensed Investment Firm, IQ Option is a member of the Investor Compensation Fund, which means that in case the brokerage suddenly goes under for whatever reason, its clients are entitled to compensation. As part of their client asset-safeguarding policy, IQ Option keep investor funds in segregated accounts, separately from the funds used for the day-to-day operations of the brokerage.
IQ Option Financial Products
As said above, IQ Option have introduced a number of new financial products, some of which are nothing short of revolutionary. In this respect, they seem very invested in the cryptocurrency vertical right now.
A total of 12 cryptos can be traded, and once again, IQ Option have made sure that they have the most attractive trading conditions around. They offer a maximum leverage on cryptos of 1:2, which is indeed quite outstanding. Short selling is allowed on crypto assets, and the deposits/withdrawals are lightning-fast.
The currencies currently supported at IQ Option are bitcoin, Ethereum, bitcoin Cash, Ripple, Litecoin, IOTA, Dash, Ethereum Classic, Monero, ZCash and Santiment.
All crypto-trading at the site is CFD-based, even though at one point in the crypto section, the site lets on that crypto currencies can actually be bought. That does not seem to be the case once one is trading away on the platform. All 12 available crypto CFDs are based on the crypto/USD pair.
The CFD section of the platform seems to feature crypto currencies as well, along with 190 stocks and 20 ETFs. The spreads are excellent on all these CFDs though, and there may actually be more CFDs available through a real money account.
The forex section gives traders access to over 30 currency pairs, and while the spreads vary quite a bit, they all seem to be well under the 1 pip mark. This section allows traders to manually close a trade whenever they see fit, locking in their profits. Stop Losses and Take Profit levels can also be set for automatic trade settling.
IQ Option Trading Platform
The trading platform used by IQ Option is an in-house creation, and it is very handy indeed. Though it is definitely not an MT4 when it comes to analysis and advanced charting options, it is not half bad. It allows the displaying of no fewer than 9 charts at the same time, and it lets traders add and remove assets at the click of a button.
There’s an Open Positions section, which gives the trader a sort of bird’s eye view of the trading field, as well as a Trading History option, through which past successes and mistakes can be analysed.
There’s a distinct social feel about the whole IQ Option trading experience, due to the presence of the Dialogs and Chats tab, where communication happens at the click of a button. Those using the demo version should know that actual chat/communication is only available to real money account holders (possibly to stave off congestion, trolling and spam).
The market analysis section is especially useful for those looking to trade the news.
Last but certainly not least, we have a special section dedicated to video tutorials. These tutorials are simply excellent: they are short, to the point and wonderfully structured. Unlike most trading-related educational videos, they are indeed potentially very useful.
Despite the praises we’ve piled upon the IQ Option platform above, it does have its shortcomings too. Its analytic features are nowhere near MT4’s league (which is sort of understandable, considering that this is a web-based platform we’re talking about). Also, more importantly: the platform seems to be a bit slow when it comes to locking in the strike-price for the trades, and that is kind of a big problem.
It has to be noted that there’s a downloadable version available as well, which unfortunately seems to be the identical copy of the web-based platform.
Customer Support with IQ Option
The IQ Option support can be reached via [email protected]. Current contact information is available on the company’s website. The company is based at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33,4102, Agios Athanasios, Limassol, Cyprus. Scores of local toll-free numbers are available on the Contact page of the website, for a number of European, Asian, African and South American countries.
IQ Option Review Conclusion
IQ Option seem to have whipped their operation into shape lately. Offering an exciting selection of new products, the operator has retained its attractive platform, and the trading conditions it offers are quite possibly among the best in the industry.
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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