IQ Option is a growing online investment platform that allows users to trade stocks, forex, cryptocurrencies, and options. IQ Option initially offered only binary options trading; its early success allowed it to diversify and become a popular platform for many types of investing. Tens of millions of users have accounts on IQ Option, and users withdraw 10 million dollars from their accounts monthly. Part of the appeal of IQ Option is that the minimum deposit required to begin trading is so low. One can start trading after depositing only $10, and trades can be as small as $1. IQ Option also offers practice accounts where users can trade $10,000 worth of imaginary money to learn investing strategy. The practice accounts and small trades make IQ Option an ideal place for new traders. IQ Option is available in many different languages.
Is IQ Option available in all countries?
No, IQ Option is not available everywhere. Many online investment platforms are not available in Canada or the United States, and IQ Option is no exception. Spain, Japan, Israel, Turkey, Australia, Russia, Romania, The Netherlands, and Italy are also not accepted. IQ Option is based in Cyprus and is regulated by the laws of that country.
Is IQ Option difficult for new traders to use?
Neither the mobile app nor the browser-based trading tools are much of a challenge for a new user to understand. The signup process is a bit more complicated. To create a new account, a user will need to send copies of a passport or a national ID card for photo identification. IQ Option will also require proof of address; a utility bill showing one’s address is sufficient proof. One cannot use a driver’s license or a health card instead of a passport or national ID card to prove identity.
How does IQ Option deal with deposits and withdrawals?
One can deposit money to IQ Option without paying any fees. The minimum deposit is $10. One can deposit with a credit card, debit card, or e-wallet. It is not yet possible to deposit from a PayPal account. One’s bank or credit company will usually not have any problem with sending money internationally over the internet, but there is the possibility that it will. Sometimes one will need an e-wallet service such as Webmoney to complete the deposit. After successfully depositing money from your bank once, your card will work without having to re-enter your data.
Many reviewers recommend IQ Option because of its faster than average withdrawals. With an e-wallet, one can receive the money they withdraw in a single day. With bank transfer, it can take more than a week to receive your funds, so you are better off with an e-wallet if you want to be able to withdraw quickly. One can withdraw almost as much or as little as they want, with a minimum withdrawal of $2 and a maximum of $1,000,000 per day.
Is IQ Option useful for trading cryptocurrency?
Depending on what coins one wants to trade, IQ Option can be a perfectly fine place to buy and sell cryptocurrency. Unlike a cryptocurrency only exchange, IQ Option allows you to trade coins for dollars or pounds directly. While there are 14 different cryptocurrencies to trade on IQ Option, there are hundreds of other currencies that are unavailable. Only on some of the largest cryptocurrency-only exchanges can one trade hundreds of different coins.
Is IQ Option safe?
IQ Option is licensed to operate in Cyprus and must meet minimum security standards to continue to operate. If IQ Option failed to maintain high enough security standards, Cyprus Securities and Exchange Commission (CySec) would take away the company’s license to operate.
Client funds are stored safely in a special account that IQ Option does not use except to send money to investors who are withdrawing their funds. Enough money must be in this account that every investor could withdraw all of their money at once without IQ Option running out of money.
IQ Option is also required to keep all communications properly encrypted. This requirement minimizes the possibility of hackers stealing credit card information.
Does IQ Option offer special accounts for larger traders?
Those who deposit at least $3000 into their IQ Option accounts do receive exclusive benefits. Most notably, those who possess a VIP account have a personal manager that will help them with any issues they need to solve. They will also recieve a trading report each month, full of information that the investor can use to improve their trading. However, IQ Option is mostly functional without a VIP account. While IQ option does offer educational resources to all account holders, some additional educational information is only for those with a VIP account.
Are there alternatives to IQ Option for Binary Options traders in the United States?
While IQ Option is not allowed in the USA, there are no laws against trading binary options in the United States. The entirely legal and regulated Nadex exchange allows Americans to trade binary options without fear of being scammed.
Is there an IQ Option wiki?
Yes, there an unofficial wiki for IQ Option, created by fans and not by the company itself. The IQ Option wiki is frequently updated and contains much information for users of the trading platform. Video tutorials are offered, as well as a blog and many pages of education and strategy. One can also find free trading tools on the wiki.
How can one learn how to trade successfully on IQ Option?
One feature that makes IQ Option an above-average trading platform is the quality of its interactive learning tools. Instead of merely offering educational resources, which is the industry standard, IQ Option gives new traders interactive tools that allow them to develop skills. As well as these interactive tools, there is plenty of other information given away to IQ Option account holders for free.
The most important way of learning the basics of trading is to use a practice account. Unlike some other exchanges, IQ Option allows one to use a demo account for as long as they want without having to spend any money.