Is “IQ Option” Scam or not? – Broker Review 2019
Is IQ Option a reliable broker or not? – In the financial sector, it is hard to find a good broker because the selection is quite large. You can read a lot about scams and fraud. IQ Option is very popular for traders, but is it really worth to invest your money there and how good it the broker? – In this review read more about the facts and the conditions for traders.
What is IQ Option? | Facts about the company
IQ Option was funded in 2013 as a Binary Options Broker for everyone. The strengthening of the company is the low investments amount and the flexible trading platform. The company is based in Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus (EU) and is there regulated by the CySec too.
Nowadays there are more than 2 million trades executed on the platform. The broker wants to give the trader an all in one platform with a huge variety of different assets and financial products. I know this broker since 2015 and they always improve their service and offer. With a rising customer base, the payouts of the broker are rising too. 2017 they withdrew more than 11 million $ every month.
Headquarters in Cyprus (EU)
Broker since 2013
You can use small investment amounts (1$)
All in one trading platform
High asset profit of 95% for Binary Options
No hidden fees
How safe is the broker?
The broker is based in the european economic area and uses the best banks for the clients money. The broker money is spearated from the customers funds. This is a big advantage and deletes the conflict of interest. In addition they use different encoding techniques for providing a safe platform.
The trading account is very safe too. You can use the 2-factor authentication. After your login, you will receive an SMS message with a login code. You get only access to your account when you use your smartphone. The option can be turned on or off.
Conflict of interest is a critical topic for the most broker. Not for IQ Option. The broker hedges the positions of its clients in the real market for Forex, CFD, and Crypto. On the other hand, they hedge the Binary Options between the traders and there is no conflict of interest. In conclusion, the broker is one of the safest companies in the world.
Conditions and trade offer
On the trading platform are more than 500 different assets available. You can trade them with Binary Options or Forex/CFD. Also trade Stocks, Options, ETFs, and cryptocurrencies with the minimum amount of 1 dollar.
The most traded financial product on the platform is Binary Options. You can choose an expiry time between 30 seconds and the end of the month. IQ Option gives a trader the flexibility to develop his own trading style. The asset profit of Binary Options is compared to other brokers very high! With a normal account, you get some time over 95% return. The VIP account gives you 5-20% more return.
|Binary Options, Forex, CFDs||Commodities, Stocks, Forex, Cryptos||95%+||Less than 1.0 pip|
Is the trading platform good as it looks?
IQ Option offers a unique trading platform (picture below) for the browser, desktop, smartphones, and tablets. The platform is flexible and very customizable. The goal of IQ Option is it to make trading very simple. Beginners should be familiar with the platform in a few minutes.
It is an all in one platform because IQ Option offers so much opportunities to invest in the financial markets. You get access to a wide range of assets with a few clicks. The transactions are clearly shown in the platform so that transparency is given.
Use different types of charts and popular indicators for your own strategy. You can customize the chart by yourself. Multicharts for a better analysis are available. It would be too much if I show you all the options on this page. Just predict the asset price direction and open your first trades. You can always trade a long or a short position. In conclusion IQ Option got one of the best trading platforms compared to other brokers.
Furthermore the platform is available as app for desktop, smartphone or tablet. The broker says that the app for computer is much faster than the web version. The broker´s portfolio is complete with the mobile trading for its clients.
All in one platform
A wide range of indicators
Flexible and customizeable
For desktop, browser, smartphone and tablet (apps)
Fast trade execution
Charting and analysis
For analysis it is important to use the chart. Different strategies can be accomplished with the trading platform. IQ Option provides 4 different types of charting. You can customize them within the colour and the timeframe. The settings are automatic saved by the platform or you can do it manually.
Use more than 18 different timeframes. It is possible to use between a 5-second chart and a 1-month chart. The diversity of options is very huge on the platform. The Broker always tries to improve its offer for his clients.
Another point to mention is the graphical tools and indicators. Use more than 5 different graphical tools (included Line, Trend Line, Horizontal Line, Vertical Line, and Fibonacci Lines). Technical analysis works reliably in the markets and is used by more than 100 years financial trading. Also, the graphical tools are customizable within the colors and the thickness. For example, you can lock them in and they will not move in the future.
Trade with more than 20 different technical indicators. The features are available in the mobile app too. The most popular indicators are the Moving Average, Bollinger Bands, RSI and ATR. In conclusion, the broker provides a big range of different analysis tools for your success in trading. Another big advantage is that they are customizable.
At the latest, there are different widgets to customize your trading platform. Watch the Current Buy/Sell ration for the selected asset with the Traders Mood. You can generate different trading ideas because of that. Furthermore, it is possible to see the trades of other traders in the chart. In my opinion, it can be a motivation for your trading. In addition, pop up news is available directly in the chart. The news depends on your chosen asset.
How to use IQ Option?
IQ Options offers a huge diversity of different financial products to trade the markets. The most popular product of the broker is Binary Options. From my experience IQ Option is one of the best brokers for binary trading. Binary Options are the most traded product on the platform. In this section, I will show you how it works.
If you want to trade Binary Options successfully, you have to make a right forecast of the market movement. The risk and the profit are limited. Special for Binary Options is the expiry time. You have to choose between different time horizons. It can be longterm or short-term. The trade automatically closes after the expiry time. Bet on rising or falling markets. The price has to be below or upper your entry point.
How to trade Binary Options
Example: EUR/USD -95%. Predict the asset price direction in a certain expiry time and invest any amount of money. If you invest 100$ and make the right forecast, you will win the trade and get a payout of 195$. 100$ is the return of your investment and 95$ is the profit. It is very easy to understand and you can practice it with a demo account. The profit is fixed by the broker and the asset movement do not influence it.
On the other hand, Forex/CFDs/Stocks/Cryptos will give you a profit by moving in the right way of your forecast. The further the markets go in your direction the more profit you will make. You can open and close the trade at any time and limit your risk with a stop-loss. In addition, you can set automatic profits with the take profit. One the platform you can learn more about it. IQ Option offers a wide range of educational material for beginners and advanced traders.
How to trade Forex
Forex is one of the beloved markets in the world. Also, it is the most traded market with more than 3 trillion USD every day. You can trade different currencies against each other. At the moment more than 174 Forex pairs are available on the trading platform. The Forex trading is leveraged up to 1:1000. That means you can multiply your investment amount by more than 1000 times! Before you start trading you can choose your own leverage of the trade.
If the currency moves into your price direction, you will get profit each moved point in the market. There are no expiry times and other rules like Binary Options. The stop-loss and the take-profit are important tools in forex trading because they automatically close the trade on a certain price. You can manage your risk with the trades.
Stocks and ETFs (CFDs)
Stocks and ETFs are popular products like Forex. Choose between 10 different stock exchanges (IQ Option improves the diversity) worldwide. You can go long or short on Stocks and ETFs. Also, the multiplier is available for them. Stocks are very sensitive to news. With the news-calendar, you can generate trading ideas quickly on the trading platform.
ETFs are like a stock collection and traded on the stock exchange. You can build a wide-ranging portfolio with them. Stocks and ETFs are traded as CFDs (contract for difference). You do not have to buy the underlying asset to generate a profit. You just buy the contract on any asset you want. The advantage is that you can go short and use a multiplier to increase your profit.
Cryptocurrencies (with leverage and without)
2017 and 2018 was the year of the new Cryptocurrencies. Some crypto exchanges stopped to attract new clients and they closed the registration. It was like a trend for investing money. In 2018 the market dropped down very hard. With IQ Option you can trade in both directions of the markets. This is not possible on the most trading platforms. Trade Bitcoin, Ethereum, Ripple, Iota and more on the platform.
Nowadays 24 Cryptocurrencies are available to trade. Another big advantage is the multiplier/leverage for Cryptocurrencies. For example, it is allowed to use a multiplier of 100x on Bitcoin. This is a huge amount of leverage. So you can make more profit on small market movements. In addition, there are no overnight fees for trading crypto without leverage. In conclusion IQ Option is one of the best flexible crypto platforms for fast investing your money.
IQ Option offers huge leverage for some financial products. Always the leverage depends on the traded asset. The maximum leverage is 1:1000. That means if you invest 1$, you are trading the amount of 1000$ on the market. Different strategies are possible because of that. In my opinion, a multiplier is a great tool for increase your profit. For small investments, it is necessary to use a multiplier. With IQ Option you can change the multiplier in every new trade. This is a big advantage in comparison to other brokers.
Nowadays mobile trading is sometimes necessary because of political or fundamental news. Also, it is important to check your portfolio when you away form keyboard. IQ Option provides a mobile app for Apple (IOS) and Android users. I was surprised by using the mobile app that the program is flexible and smooth like the trading platform for browser or desktop.
Binary Options are forbidden in the Appstore but you can trade Forex/CFDs/Crypto with the apple app. In the app, you can directly chat with the support of IQ Option or chat with other traders. This is a good way to improve your results or ask questions. There is no difference in the order execution in the app or trading platform.
Learn trading with the free Demo Account
Especially for beginners, it is important to practice trading in the demo account. This is an account with virtual money. So you trade without risk. IQ Option offers you a free and unlimited virtual account. With one click you can change between your real and demo account.
There is no difference between the demo and real account. I tested it and the conditions are the same. Furthermore, it is important for advanced traders to improve their own strategy in the demo account. Directly in the platform, you can watch as beginners the education videos and analysis of IQ Option.
The account is capitalized with 10.000$. This is the best amount for testing the platform. If you make some losing trades, you can easy recapitalize the account with one click. In conclusion IQ Option offers one of the best demo accounts for trading.
Free and no hidden fees
Demo account with 10.000$
Open the real account
The real account is combined with your demo account. With one click you can change between these 2 accounts. For the registration, you only need your name, email and a secure password. The account opening only takes the time of 30 seconds. After the registration, you can start practice in the demo account or deposit your first money. It is possible to trade without verification.
I recommend doing a verification before you start investing real money because withdrawals without verification are not allowed. Just upload some personal documents and the account will be approved in less than 24 hours.
For beginners there is a complete tutorial on the IQ Option trading platform. For further question you can ask the chat-support.
Verification in less than 24 hours
Change between demo and real
Fast support for questions
Deposit and withdrawal with IQ Option
In this review, we will have a look at the deposit and withdrawal options. From my experience, the payment system of IQ Option is one of the best. First of all, you can start with the small investment amount of 10$. There are different payment methods for deposit and withdrawal. Every trade should be able to capitalize on his account.
Withdrawals are processed within less than 24 hours. IQ Option is not a scam, because often I paid out and I know a lot of other traders who did it. In conclusion, the company provides you the best service. You can use Creditcards, E-Wallets, Cryptos or Bankwire for your deposit and withdrawal.
At the moment there is no bonus for clients and their deposit. In the past, there was a deposit bonus. Nowadays they deleted the bonus because only a few traders used this service. In my opinion, the professional and successful trader does not need a bonus for their account to make a profit.
IQ Option fees
Are there any hidden fees? – No, there are not any hidden fees for you! Withdrawals and deposit are without any fees. It is completely free. In addition, there are some fees for the trading instruments and an inactive fee:
- Binary Options: No fee for trading.
- Digital Options: No fee for trading.
- Forex, CFD, Stocks, Crypto spread: You always pay the market spread of the asset. The spread value depends on the asset. For example, popular assets got a lower spread. It is the difference between the buy and sell (bid & ask) price in the market. IQ Option takes this fee for earning money and get paid. Compared to other brokers the spread is very low. Sometimes IQ Option makes a special event with lower spreads. The regular spread is between 0.010 and 0.030% in forex trading. Always you can see the spread transparent in the trading platform.
- Leverage: Leverage is borrowed money. If you hold a position longer than one day with a multiplier, you will get charged an overnight fee. This fee depends on the asset and the multiplier. You can see it transparent in the platform or you can ask the support for help.
- Inactive fee: IQ Option charges a fee for inactivity after 90 days. The fee is 50$. If your account balance is zero, they can not charge this fee.
Account Types (VIP)
IQ Option offers a VIP account for deposits more than 3000$. You will get a VIP-Manager, increased profitability, better support and unique offers. Important to know is that you have to deposit more than 3000$ in one deposit. If you deposit 3000$ in more than 1 payment, you do not get the VIP-status.
Increased profitability is a big advantage for Binary Options. You earn more money in your trades. The increased profitability is between 5% and 21%. It depends on your traded asset. In the platform, you can see the increased profitability by a symbol next to the asset.
Another advantage is the VIP-training. You will get access to different PDFs only for VIP-members. Furthermore, you can book direct sessions with your VIP-manager. The support is very comfortable and they will care about you in different ways. In conclusion, a VIP-account is a good opportunity to get more profit and knowledge for your success in trading.
Tournaments and Contests
Tournaments and Contests for trading with Binary Options. In most cases, more than 3 different Tournaments are available for traders. Each Contest got his own condition for trading. You can win a huge amount of money in a short time. Now I will show you how the Tournaments are working:
If you take part in one contest, you will get a separated account for the contest. It is like the demo account with virtual money. Now you have to make a profit and compete against other traders. Do not blow up the account otherwise, you have to pay the registration fee again. Sometimes there is a big prize pool of 100.000$. This is a good way to earn money with a small investment.
- Compete against other traders
- Pay a registration fee
- Trade with virtual contest money
- Make as much profit as you can
- The first places win a huge amount of money
- Example: You can win money with the place of 30. This depends on the Tournament.
These countries are available
As mentioned before IQ Option is an international broker. The trading industry is growing constantly and more people like to invest their money in simple steps. Asia and Africa it the biggest area of the broker. The broker provides the support in more than 20 different languages. It is multiple and they accept more than 200 different countries.
These countries are not accepted: USA, Iran, Israel, Australia, Canada, North Korea, Japan, Latvia, Syria.
In fact, Asian is the fastest growing market and the broker try to improve their support for Asian traders. Also, trading is legal and very popular like gambling but is IQ Option legal in India, South Africa, and other countries? – Yes, it is. After my research, there are not any illegal actions of the broker for this region. The broker added different Asian and African countries to their offer:
- South Africa
Robots and Trading Signals
Robots and automatic trading are not provided by IQ Option. In addition, it is very difficult to create a robot because they got their own unique trading platform. So expert advisors cannot be used.
Furthermore, there are no trading signals from the broker. The broker prefers that traders use their own knowledge to make a profit. In the traders chat you can talk to other clients to generate trading ideas. This is a way to get signals from other traders. Personally, I do not like signals and robots because you are not independent if you use them.
Support and customer service
As a reputable broker, IQ Option also offers a good service to its clients. The support is available 24 hours a day via phone, chat or email. For beginners, there is a big education center with over 200 different videos. In addition IQ Option offers account managers and VIP managers. They will help you to understand the platform better.
Furthermore, IQ Option provides daily analysis and news for trading. You get access directly to market news through the platform. In conclusion, the support and service of the company are very good. The biggest advantage is the 24-hour support via chat.
|Phone, Email, Chat||More than firstname.lastname@example.org||+44 80 0069 8644|
The advantages of IQ Option:
24 hour support
Start with a 10$ investment
More than 500 different assets
Diversity of financial products
All in one platform
High asset profit of 95%+
Is IQ Option legit? – Scam or not – Review 2018
IQ Option is interesting for beginners and advanced traders! Definitely, IQ Option is not a scam. It is a reliable European broker for trading Binary Options, Forex, CFD and more. In conclusion, the broker offers a wide range of financial products for the traders. First of all, I recommend using the demo account. You will be surprised how good the trading platform works.
It is an all in one platform for the financial markets and one of the biggest. IQ Option is one of the most popular brokers in the world and I can confirm that. This review showed you the facts and a lot of information about the company. I think you are now ready to invest using your money and start becoming a successful trader. Happy trading ;) (5 / 5)