As you can see on my blog, I don't have many brokers to talk about but I have only two brokers and today will be about IQ Option. I don't think I should review as many brokers as possible because too much information will addle your decision making.
General Info
- Website URL: https://iqoption.com
- Online since: 2013
- Main office location: Nicosia, Cyprus
- Languages: English, German, Italian, French, Swedish, Spanish, Korean, Chinese, Portuguese, Turkish, Indonesian and Russian
- Minimum first deposit: 10$
- Minimum investment per contract: 1$
- Bonus: up to 50%
- Minimum withdrawal: 10$
- Deposit and withdrawal methods: VISA, MasterCard , WebMoney, POLI , Skrill, NETELLER, Wire transfer
- Options types: Call/Put
- Account currency: USD
- Mobile: Yes
- Demo account: Yes
- Author rating: 99/100
IQ Option is one of the best-known binary options broker operating since 2013 and is based in Cyprus, European Union. IQ Option is fully registered and regulated broker under various authorities in financial service regulations such as CySEC, FCA, CNMV, BaFIN, Regafi, AFM.
Trading Platform
IQ Option provides a cutting-edge trading platform available for desktop application, mobile application, browser-based platform and there are special features for all types of traders. It allows traders to place trades in two different forms: call or put. Duration for contracts ranges from 30 sec to 1 hour. The platform is well-known for its accurate pricing and easy to execute. The payout is fairly well compared to other brokers. Most assets give more than 80% return. You have two types of options contract. The first is turbo. In this contract, the expiration ranges from 30 sec to over 10 minutes. The binary type has the expiration ranging from 15 mn to 1 hour.
The available assets include currency pairs, indices, commodities and equities. Opening a demo account is very easy with 30 sec process. When you go to the site on browser, you will readily be given a demo account. All you need to do is just to give your email address and full name.
To register a real account with the broker, you need to have some documents to prove your account's authenticity. They are a copy of scanned ID Card or Driving license or passport stating your full name and date of birth and the second document is your residential proof such as utility bills or bank statement stating your address clearly. Proof of residency documents should not be more than 3 months old.
Pros and Cons
There are some good things about IQ Option:
- Easy trading platform
- Mobile trading app
- Regulated binary option broker
- More than 11 million accounts
While there is one disadvantage:
- Withdrawal requests are processed within 3-6 business days
My Experience with IQ Option
I have known IQ Option since 2015 as I am doing research about finding legit brokers for binary options trading. As soon as I knew it, I started to find more reviews about the broker. I was afraid it was just a broker that came just to scam people and ran away. Fortunately, I have never seen people having problems with IQ Option.
Then I registered a demo account immediately, and started to trade demo money on IQ Option. The first thing I was amazed at is their advanced mobile platform. I can trade from a mobile application easily available on Google Play for both Android and IOS.
I contacted their support through chat several times about the documents needed. They were very responsive to my request. They even checked my documents before I opened a real account. The time went by as I found out IQ Option is one of the most trusted brokers with license and regulation. No doubt I would open a real account. I have never had any problem with IQ Option but the only little disappointment is their duration of withdrawal processing from 3-6 days. However, I feel secured and confident with the company.
Final Conclusion
IQ Option will be the best choice if you want to start trading binary options even with limited capital. You can start with just 10$ deposit and this small amount lets you test drive your trading journey without spending too much loss. I am happy I can be confident in using the broker to make money every day as IQ Option is a legitimate broker with full regulation of European Financial Authorities.
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