Choosing a broker has always been a difficult task because the quality of its services directly affects the result of trading. Traders well remember when 3-4 years ago binary trading sites using offshore jurisdictions and the lack of state regulation. we did everything we wanted: wrong quotes, constant change of trading conditions and disappearance of the money customers. But, some companies have stood the test of time and have earned a good reputation, such as IQ Option.
About company, licenses and awards
The company started operations in 2013 and according to the official website at the beginning of 2019, 41.6 million users and one million transactions were registered every day. The financial results of the average turnover per month and the derived profit look quite large, but when compared with other companies, these are quite average values for the market.
Jurisdiction standard for binary options is the offshore zone, in this Saint Vincent and the Grenadines. For traders, this means the smallest chance of asserting their rights in court, as the activities of such companies are not regulated or controlled outside the zone, as indicated directly in the Client Agreement.
With licensing is also not easy. It is strange to see the complete absence of mention of regulatory documents for a company working with other people’s financial resources, even if there are high places in the ratings. Probably the absence of an external audit imposes substantial limitations open accounts.
IQ Option does not provide services to residents of the US, EU, Russian Federation, Japan and other countries (for more details, see Client Agreement). If you find false personal data binary options broker reserves the right to block the account without refund!
Account types and trading assets
The broker offers three types of trading account:
- demonstration (DEMO). The starting option is binary option for newbie’s, which allows you to gain trading experience without investing real money. When a DEMO account ends it can be updated and paved training or testing strategies;
- real (REAL). The minimum deposit amount is $ 10, an option is $ 1. This allows you to see how the strategy or binary options signal works in the real market with minimal possible losses. The maximum profit can be 75-85%, there is no limit to the number of simultaneously open options;
• VIP. For large deposits, the current amount to connect an exclusive package of services, check with support. In addition to higher profits on all trading assets, VIP account holders can use training materials, individual consultations and special promotions.
In addition to 73 currency pairs, binary options trading platform offers:
- Stocks. The minimum amount of a real account and option allows you to quickly start earning on changing stock prices of 173 American and European companies in all sectors of the economy;
- ETF (Exchange Traded Fund). Shares in 25 major index funds such as S&P Metal & Mining EFT and MSCI JAPAN ETF will diversify risks and create a truly reliable investment portfolio.\
- Energy. CFD (Contract For Difference) contracts for oil and gas futures.
- Cryptocurrencies: Bitcoin, Litecoin and another 20+ digital money.
- Metals. Gold, platinum, palladium, silver.
On Saturday and Sunday, when the Forex market is closed, you can trade major currency pairs on OTC (Over-The-Counter) quotes. OTC prices are made by a broker and are not related to the real market. Use them only as learn binary trading option!
Trading platforms and copying options
You can trade on any desktop (computer, laptop) and mobile (smartphone, tablet) device running Windows/ Mac OS/ Android/ iOS both through the WEB and by installing the software application.
The application allows you to create your money management system both in the stock market and Forex:
- limit the maximum amount of profit (Take Profit) and loss (Stop Loss);
- set a limit level of deposit reduction to avoid the situation of Margin Call;
- transfer the trade to breakeven and make maximum profit using Trailing Stop.
Money management is not available on the Web platform. The settings work both manually and when using binary option bot!
Analytics, affiliate program, deposit/withdrawal
Standard set of news data and analytics: calendars of fundamental events and reporting, market reviews and news feeds from Business Standard agency. Within the forum, you can copy free binary options signals from successful traders (social trading), but only in manual mode.
There is a binary options guide for beginners, and IQ Option broker offers up to 50% of all operations of attracted customers to partners. Marketing CPA materials in 13 languages effectively monetize the traffic of any site, forum and group on social networks.
The trader can choose the most convenient method for paying a deposit: Visa / MasterCard or electronic money. Commissions are within acceptable limits, replenishment instantly for digital money and no more than 10-15 minutes for transfers and cards. Skrill and Neteller payment systems have their plastic cards for cash withdrawals at any ATM.
You can deposit money with a minimum of personal data, and a withdrawal procedure requires verification (confirmation), which is mandatory for payment cards and large amounts. Usually, if there are no problems with copies of documents, the process takes 5-7 days, but the support service may require additional information or check customers from certain regions in more detail. It is recommended to start verification immediately after opening an account before the first transfer of funds.
Reviews of the company are generally positive, but we are cautious about reviews comparing IQ Option with only one broker. Often these are custom materials, the purpose of which is to expose a competitor in a disadvantageous light. Write to them usually copywriters or employees PR-services relating to binary options a very distant relationship. The lack of the necessary experience leads to fantasy, which further distorts the real situation. Keep this in mind and always look for additional confirmation or refutation.
Summarize. Despite some regional restrictions on the provision of services, the IQ Option broker can be recommended by both beginners and professional binary options traders.