When it comes to trading Binary Options, one of the most important aspects is to find a trusted Binary Options Broker that you can rely on. There are literally hundreds of brokers to choose from when it comes to trading, and its important to find the right one for you. This review is going to look at one of the most popular brokers, which is IQ Option and their capabilities to help even the least experienced trader become profitable.
IQ Option was established in 2014 and has slowly started to become more prominent on the trading scene over the years. Since then it has gotten favourable reviews from users, which puts it at the top of most people’s preferred choice of broker.
The Trading Platform
The trading platform appeals to many traders and is simple to use and understand, with custom layout features that are nicely presented it’s one of the best platforms to trade Binary Options
This broker opens up the exciting world of binary trading to it’s clients, offering a wide range of Forex Pairs, Financial Indices, Commodities, and Stocks in a binary option format. Traders select their product and decide whether it will rise or fall in value within a given time period.
Traders on the platform can easily place trades using the web platform and the data streams are delivered at a constant rate.
You can also choose from a range of assets including ETFs, CFD Stocks and Forex.
EFT trading is a brand-new product, and a fantastic way to expand your portfolio. ETFs work by tracking commodities, indices and baskets of assets, and are traded in the same way as common stock on the stock exchange. Investors can sell short, buy on margin and buy as little as a single share in their chosen asset.
Trading CFDs on stocks is another addition to IQ Option. Using their platform, you can trade CFDs on stocks from over 7485 different companies, including the most successful businesses listed on NASDAQ and NYSE.
Deposit and Withdrawals
Signing up to IQ Option is very straightforward and easy.
With IQ Option the minimum deposit amount is £10 or €10, depending on the account currency and you can open transactions on the platform starting at just £1 or €1. They don’t charge any fees or commissions for deposits and withdrawals using a bank card (Visa, MasterCard, or Maestro), WebMoney, Skrill, Moneybookers, Neteller, or other financial services. A commission is charged only for withdrawals via wire transfer to your bank account.
The withdrawal requests pretty quick, usually processed within 24 working hours ( depending on the payment method).
IQ Option have no restrictions as to the minimum withdrawal amount
The maximum allowable withdrawal amount is £1,000,000 and the number of withdrawal requests is unlimited as long as the withdrawal request must not exceed the amount available on your account.
IQ Option offers a VIP account; VIP account traders always have a higher profit on assets of up to 92% in the case of a correct prediction and they also have an opportunity to participate in major tournaments. Every VIP user gets a personal manager who is always ready to answer questions. IQ Option will often reward them with various privileges. They recently ran a contest amongst the VIP traders to win tickets to London for a test drive in an Aston Martin.
To open a VIP account, traders need to deposit an amount over £3,000, or approximately the same amount in another currency.
IQ Option allow you to have a free demo account and they do not require a deposit like some other brokers do.
To give you the most authentic trading experience possible The practice account let’s you experience binary options trading without taking any financial risks in the process. It is set up exactly the same as a live account, and all the markets are real markets being updated with real-time information; the same information available to real traders. Practice makes perfect, and for binary options trading it really is the only way to learn.
Using IQ Option on your Mobile
IQ Option has been developing innovative technologies in the binary options trading industry, including the IQ Option mobile App and is one of the best binary option app from any broker and is very user friendly.
The app is secure, so your personal data and money are safe.
With a modern interface, and fast functionality. It has a wide range of features, so you can do everything you need to successfully trade binary options.There are also a variety of indicators available and the charts are easy to read and in incredible detail, it’s easy to place a trade with a couple of simple taps.
IQ Option has many trading options including:
60 Seconds Option
One of the most widely known types of options. 60 seconds is a high-thrill, high stakes, high pay out type of option that expires 60 seconds after you place the trade. A number of variations are available: including 120 seconds (2 minutes) and 300 seconds (5 minutes). You can win big, but it is not for the faint hearted, or those who are more risk averse.
The High/Low option is one of the most common binary option types, it’s one in which you predict the final price of an underlying asset based on its current price. So you predict whether the final price will be higher than the current price or lower than the current price. The trade will also have an expiration time, and you win or lose depending on whether your prediction was correct.
High/Low binary option trades can be placed on a wide variety of underlying assets. It’s a low-risk form of trading and the pay outs are typically lower than other option types that are available. With being low risk trades, they are suitable for new traders and the more cautious risk averse traders who don’t want to occur big losses.
Boundary options carry a higher level of risk than the High/Low options, but payouts are higher. In the Boundary options trade, an underlying asset is given a boundary price mark by the broker.
Both and upper and a lower value (the boundary) the aim of the trade is to predict whether the underlying asset’s price will stay within the boundary during the time period of the trade or whether it will fall outside the boundary.
One-Touch and No-Touch Options
One-Touch or No-Touch trades are based on price, but are more of a risky trade as they are harder to predict, but this trade has a higher payout.
Just like the boundary option, an underlying asset is given a boundary price mark by the broker. If you select the One-Touch option, you are hoping that the underlying asset will touch the price set by the broker before the time expires. As soon as the price is touched by the underlying asset, the trade ends and you receive your profits. However if the underlying asset doesn’t reach the predicted price before the trade expires, you lose your money.
If you select a No-Touch option (a reverse of one-touch option) , you are hoping that the price of the asset will not hit the set price. You have to wait until the expiration time during which the underlying asset cannot touch the target price, if it does hit the set price, the trade ends and you lose your money.
IQ Option Tournaments
The tournament is a competition between traders where everyone can participate for a set fee. Each participant gets a tournament account with the same amount of money. Traders can trade in any asset and invest any available funds. The winner is the trader who finishes with the most money on the tournament account. The prize pool is usually divided among the best traders — from 9 to 30 people. This is a unique feature to IQ Options and brings an element of fun and competition to binary options trading.
In some tournaments, traders are able reload their account balance by depositing the original amount in real money. If a tournament allows re-buys and a traders starting balance is £100, the trader can click “Re-buy” next to the balance and the trader will have £200 in the account and the number of re-buys during the tournament is unlimited.
The tournaments are an exciting new twist on binary options trading.
IQ Option is regulated by CySEC. It is the regulatory body in Cyprus which allows to brokers to provide its services within the European Union.
IQ Option also provides it’s CySEC registration number:License No. 247/14 and also takes measures to safeguard Clients’ Funds.
Online since: 2014
Minimum Deposit: £10
Minimum Investment: £1
Currency Deposit: USD, EUR, GBP
Early Trade Close: Yes
Demo Account: Yes
Languages: English, German, Spanish, French, Italian, Portuguese, Chinese and many more
Countries: Doesn’t offer services to residents of certain jurisdictions such as the USA, Australia, Canada, Japan, Belgium, Israel, Russia and Turkey.
You can actually see that they are part of the List of approved domains on the CySEC website
Please Note Binary Options and Forex carry a level of risk to your capital as you could lose all of your investment. These products may not be suitable for every investor, therefore ensure you understand the risks and seek independent advice. Invest only what you can afford to lose.