IQ Option Review
IQ Option is an online platform to trade with Options (binary and digital), Forex, Stocks, Cryptocurrencies, Commodities, and ETFs.
This company is recognized worldwide and operates in more than 151 countries. Millions of traders use the platform daily to conduct business and transactions.
- Free Demo Account
- Company regulated by the CySEC
- Minimum deposit of $10
- Trading tournaments with low entry barriers
- Operates in 151 countries worldwide
- Performance up to 95% on binary options
- Charges 2% commission to withdraw money
In this IQ Option review, we’ll see 7 essential points you should know about this company before opening an account. Don’t miss it!
1. Types of operations in IQ Option
In IQ Option, you can operate with binary or digital options. If you don’t know what they are, here we will give you a brief explanation of each one.
In binary options, you make a speculation about the rise or fall of a specific asset in a given time. The expiration is always predetermined and goes from 1 minute to 1 month.
The maximum return is 95% (depends on the asset) and is always fixed. It’s called binary because you only have two possible outcomes, or lose or win.
Digital options combine binary options with an increase in assets. This is not a fixed return but varies according to the departure from the exercise price.
The further the price moves away, the higher the profit or loss. In IQ Option, you can earn up to 900% return.
Forex refers to Foreign Exchange. That is, it is the operation on currencies such as the dollar or the euro. The difference with the regular foreign exchange market is that in the Forex you don’t really acquire the tangible currency but rather make a speculation of one currency over another.
For example, if you think the Dollar will rise against the Euro, you buy the asset “USD/EUR“. This operation has no definite time, but you sell it when you think it reached its maximum value.
The minimum investment in Forex is $1, and you can leverage up to 1: 1000.
The term leverage is a tool that allows you to invest much more money than you really have. That is, you can invest in much larger assets and generate much more profit (as well as losses). The broker is the one that acts as “credit” in these leverage operations.
1: 1000 means you can invest up to 1000x times more than the money you enter.
Investing with leverage is very risky (especially for beginners), so it is not recommended if you are just starting.
In IQ Option, you can also trade with shares. It has more than 170 actions with which you can get the best performance. Also, IQ Option doesn’t charge opening fees.
The term CDFs (Contracts for Difference) means that you don’t contract the underlying asset, but speculate on the movement of the future price of that asset. This type of contract has many benefits, such as increased investment (due to leverage) and is free of commissions. Also, you can buy or sell the CDFs shares whenever you want.
The minimum investment in the shares is $1, and the maximum leverage is 1:20.
The rise of cryptocurrencies has been really high in recent years. Many people became millionaires by investing in some of them like Bitcoin. Today there are more types of cryptocurrencies besides Bitcoin.
The minimum investment in this case is $1. And the maximum leverage is 1:100.
Another investment option offered by IQ Option is commodities such as gold, silver or crude.
This is another of the most attractive investments by traders.
It offers a minimum investment of $ 1 and maximum leverage of 1: 150.
CDFs in ETFs
Also, another variety to diversify your investments is with ETFs.
It has more than 25 ETFs, and the minimum investment is $ 1. Likewise, the leverage goes up to 1:20 maximum.
2. Deposit / Withdrawals Methods
The methods of deposit or withdrawal usually depend on the country in which you are. But they generally offer these three types:
- E-Wallets: Skrill, Neteller, AstroPay or WebMoney.
- Bank Account: banks depend on the country of origin. They usually have a connection with different banks in each country.
- VISA / Mastercard.
The minimum deposit amount for all cases is $10, and for withdrawal, it’s $2.
In the case of payment, the commission rate is 0%, so it is free of commissions. To withdraw your money usually has a commission of 2% depending on the method of extraction. It takes a maximum of 3 days to reach your account.
3. IQ Option Review: Free Demo Account
If you are new as an investor, you may not want to invest money without having any experience.
That is why IQ Option provides a free demo account with U$S10,000 virtual, so you can invest without putting your money at risk.
In this way, you make sure to learn to make investments without touching your pocket. Once you feel safe, you can start making transactions with the real account.
Opening a demo account is entirely free (you will not be asked for a credit card or anything like that). You just go to www.iqoption.com and open a risk-free account.
4. Online Trading Tournaments
IQ Option organizes online tournaments for more experienced investors. The purpose of these tournaments is to reward traders who make better investments.
In these prizes, you can win up to $ 1000 with participation between $ 0 and $ 6. Then there is also the option of the buyback price that has the same value.
In these tournaments, each participant receives $100 dollars, so that the competition has equal conditions. Participants who generate higher results receive a reward that goes up to $ 1000.
These tournaments are very low cost for participants (usually $ 2 or $ 4) and have great rewards. It is an excellent incentive for those who have experience and can earn large amounts of money.
5. Account Verification
So you can withdraw your money, you will be asked for a unique verification of your account. The documents you will be asked for are:
- Confirmation of e-mail and telephone number.
- A photo of the color identification document (it can be a passport or driving license).
- In the case of using a bank card, you must upload a scanned copy of both sides (you must hide the CVV number and only show the first 6 and the last 4 digits of the card).
6. Tips for investing in IQ Option
The process of becoming a good investor doesn’t result in a matter of luck. But continuous learning and experience.
That is, it is not advisable to start investing real money if you have no idea about the market or the options.
The result of the earnings depends on the information about the market and the strategies you can acquire. The movement of the prices of stocks, options, or cryptocurrencies results from several factors that are important to learn before investing.
Anyway, the demo account is beneficial to gain experience in this type of investment. So it is a point in favor of IQ Option. My recommendation is to start with this demo account before depositing real money.
7. IQ Option Review: Final Thoughts
IQ Option is an excellent platform to operate on options and assets CDFs. This company has a lot of credibility and trust since it has worldwide recognition and adds many awards in its favor.
It has many benefits, such as the demo account to start investing without currently having to put money. All the money played in this account is virtual but learn to invest in diversifying investments.
The usage rates are really low, to deposit, you have 0% commission and to withdraw the money 2%. So profits are not affected.
This platform operates in more than 150 countries, so you can start opening a demo account right now.
About IQ Option
IQ Option is a company founded in 2013. The company name is IQ Option LTD, and IQ Option Payment LTD manages payments. Both are located in St. Vicent and Grenadines and Cyprus, respectively.
It is one of the largest trading companies since it has more than 41 million registered users, and more than 1 million operations are performed per day on its platform.
They currently have traders all around the world (151 countries).
This company initially offered only options (that’s why IQ Option), but then it expanded to different types of investments.
- Customer service is very effective and you can contact them via chat, e-mail, or telephone. Their attention is very fast and timely.
IQ Option won more than 14 world awards due to its emphasis on innovation, trading, and binary options.
IQ Option is regulated by the CySEC (Cyprus Securities and Exchange Commission). This is an entity that regulates many brokers that operate in that country.
This commission is responsible for protecting the rights of the investor. Therefore, it is considered that the brokers regulated by this commission are safe to invest.
Aditional Information about IQ Option
Another highlight of the company is that it has a charitable foundation called “IQ Option Charitable Foundation” founded in 2018. This foundation is responsible for contributing to social welfare in vulnerable societies and especially less developed countries.
IQ Option Charitable Foundation focuses its efforts on helping children with few resources that lack the basic needs that everyone should have. You can find out more about this foundation at www.iqcharity.org
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