IQ Option Binary Broker Review
Depending on a trader’s location, there can be dozens or even hundreds of brokers that would be more than happy to serve as the gateway to becoming an options trader. With competition being so fierce, brokers have to do more to stand out from the crowd, often through innovation, and when it comes to creativity and bringing something new to the table, it does not get much better than IQ Option.
Established in 2012, IQ Option has steadily grown into a premier trading platform that is highly regarded within the investment community. We do take on board the thoughts of others, but nothing beats personal experience so we set about seeing exactly what this broker could bring to the table for us.
Signing Up at IQ Option
The main page on the IQ Option site is simple and clear and this theme continues when actually creating an account. Nothing but the most important information is required by the site and we just needed to verify our identification before depositing funds and setting about trading as normal. Essentially, the entire process was hassle free, but the best was yet to come.
We’re always happy to see an accessible broker and they do not get much more accessible than this as the minimum deposit amount is pegged at either $10 or £10 depending on your choice of currency. This is one of the lowest minimum deposits in the industry and goes a long way to explaining the continued growth of IQ Option as a viable broker. We went over and above the minimum amount, primarily to get the most out of the welcome bonus, but for anyone looking to dabble in real trading without settling for a demo account, this is definitely worth a closer look.
IQ Option Bonuses
As noted, we deposited more than we were required to as part of our review simply because there are so many bonuses to explore. Up to a 100 percent signup bonus is offered but, like many other brokers out there, the exact percentage is dependent on the amount deposited. This is the first bonus of many on the site and hitting various milestones throughout regular trading activity can often see new bonus structures becoming unlocked, often when the trader least expects it. These bonuses can of course lead to trades where the risk is reduced even further and we cannot imagine any trader turning down this kind of free cash!
There are various account levels and the value of your first deposit will dictate the level at which you enter the site. Even at the lowest tier, traders can expect an 80 percent bonus and even the very smallest deposit of $10 can lead to some bonus cash that can lead to some slightly more spectacular trades.
The IQ Option Education Section
IQ Option is known for being creative and innovative and one of the best ways to experience this for yourself is to take a look at their education section. At the core of this offering is the opportunity to enjoy access to a free demo account. They were the first major broker to offer investors the chance to experience the platform with no risk and no commitment and while many others have replicated the idea, no other broker is as experienced in offering this excellent service.
The perks of using a demo account are obvious. Traders can get to grips with the very same system that they would be using when trading for real and the extensive range of learning tools on the site can be put to the test on what would be real trades using a standard account. Knowledge is power when investing and the opportunity to practice with no risk on the table is always worth taking advantage of.
The demo account is not all that this education section has to offer either. IQ Option also set the trend when it came to interactive learning materials too, almost to the point that they could be considered to be a binary options trading university. Written and video materials come together to offer traders everything they need to refine their skills and really make the most of the trading opportunities presented to them. Between webinars, tutorials and even an e-book, it can be worth signing up at IQ Option just to get access to some of the best informational literature that the options trading industry has to offer. Both new and experienced investors can benefit as the information provided is sourced from a number of different experts, each with their own takes on strategies and skills.
IQ Option Assets
While IQ Option does not offer the most extensive range of assets, especially now that some brokers boast upwards of 200 assets across all categories, we feel that the 70 in play here are more than sufficient for the needs of most traders. They place great emphasis on popular technology stocks such as those from Google and Apple, but also offer other common asset classes such as indices, currencies and commodities. It is definitely a case of quality over quantity here and all types of traders should be able to find something that closely suits their needs.
The Trading Platform
Innovation may well be on display in the education section but it does not end there, as the trading platform itself is one of the most fully featured around, all while remaining simple enough for just about any trader to get to grips with. It looks good and the menu driven nature of the interface means that pertinent information is never more than a couple of clicks away.
Placing trades on the IQ Option platform could not be easier, with all of the requisite information provided up front and the trade itself accessible and trackable from within the trading platform. The minimum trade value ties in nicely with the minimum deposit as $1 is all that it takes to get into the action, although more experienced investors can place trades of up to $1,000 in the same manner. It is all about confidence and capital but the options are all certainly there. Head over to the main trading page to see what is currently available while signed in. Choose the type of option and then the asset before putting in the trade amount. A few clicks later and the trade is placed, allowing the investor to sit back and watch its progress or get on with something else while it plays out.
Returns at IQ Option
Investment is all about the returns and we do not appreciate brokers with unnecessarily low limits. Fortunately, IQ Option does not wall into this category and it is possible to make industry leading returns of up to 92 percent on your investment amount. That is not only one of the highest rates of return in the binary options industry but investing as a whole.
Managing your Money
Every deposit and withdrawal option imaginable is on offer at IQ Option ranging from the standard credit and debit cards to the majority of electronic wallet systems and bank transfers. As noted, the $10 minimum deposit applies to each and every method too. Withdrawals take a maximum of three days to process although we have found that it is often much quicker than this, often reaching us within 24 hours. As with most brokers, security is taken very seriously and clients will need to provide scanned identity documentation prior to making a withdrawal from the site, including a copy of the credit card used for the withdrawal if that is your method of choice. It is also important to keep in mind that there are no free monthly withdrawals at IQ Option, with every withdrawal being accompanied by a fee of between $5 and $10 depending on the method.
IQ Option Customer Service
Everything has been truly top notch when using IQ Option to this point, which actually makes the customer support a little more disappointing. While email contact is always available, that does of course require the investor to wait for an answer. At the time of writing, there is no live chat or telephone support available other than directly to your account manager, although they are not available at all times. The support that is received is high quality, we would just prefer it if it did not take so long!
US and Japanese Accounts
While we can imagine IQ Option being the kind of platform that US and Japanese investors would love, it is not currently available to residents of either country.
IQ Option Features
As a broker, IQ Option is definitely one of the best that we have used. New investors can use it as the perfect introduction to trading thanks to the minimum deposit amount while more experienced traders can make use of a thoroughly innovative platform. The firm is also regulated by CySec, which not only gives them the ability to legally operate in the EU but also ensures that EU investors, which make up the bulk of IQ Option’s clientele, will have their money held within the region.
The learning tools are also worth another mention as they are one of the best reasons to trade at IQ Option. Their interactive nature is a real highlight and we maintain that even experienced investors have the potential to learn something new under this particular account.
IQ Option Review in Summary
IQ Option has quick become one of the most important brokers in the industry and even a quick look at the demo account will go a long way to explaining why this is the case. They are full of ideas and fully regulated, so the security conscious need have no worries about using them. Even the potential downside, that being the customer support, is forgivable based on the quality of the assistance offered. It is a highly impressive option and one that we have absolutely no hesitation in recommending.