If you’re looking into online trading, IQ Option has the potential to be just what you need. Here we’ll take a look at the history of the company, the features IQ Option offers, and what you can expect when trying it out for the first time.
History of IQOption.com
IQOption.com is the online trading platform for IQ Option. IQ Option Europe Ltd caters specifically to clients in Europe (EU) or European Economic Area (EEA). It is a designated Cypriot Investment Firm (CIF), and the Cyprus Securities Exchange Commission (CySEC) regulates the broker. This ensures the highest standards of compliance and security for clients.
Traders from outside EU/EEA countries can open an account with IQOption Ltd, another company in the IQ Option group of companies. This latter company is not regulated but has the benefit of accepting clients from the vast majority of countries worldwide.
IQ Option Growth
The trading site has increased its global footprint at a record pace since its founding in 2013. This year, traders from 213 countries have used the platform. There are currently 48,091,542 registered users, a population grown from 965,650 in just over six years. Additionally, IQ Option’s daily transactions have increased by more than 800% since beginning operations.
Users take advantage of the platform’s versatility, which allows trading Contracts For Differences (CFDs) on Forex, stocks, cryptocurrencies, commodities, and Exchange Traded Funds (ETFs), among others. Over one million daily trades today demonstrate the robust growth IQ Option has experienced since posting just under 150k transactions per day in 2014.
IQ Option Awards
IQ Option has legitimized their rocket trajectory by amassing 14 different industry awards, including The Communicator Awards 2017 Award of Excellence, given for exceeding industry standards in quality and achievement.
Albeit one of the youngest online trading platforms in the market, it’s one of the fastest-growing and most positively reviewed. Low minimum deposits, risk management, and a visually stunning trading platform contribute to the firm’s proliferation.
Top Features of IQOption.com
A myriad of innovative features highlights the platform’s offerings. Low barriers to entry attract customers, and getting started is both cost-effective and straightforward.
Free Demo Account
All new users start automatically with a free demo account. A free trial isn’t foreign to online trading sites, but IQ Option separates from the competition by keeping the trial period open-ended.
Customers have as long as they’d like to trade their $10,000 virtual balance and refill the sum as frequently as they choose. Doing so helps traders learn risk-free until they’re comfortable enough to begin a real account.
Deposits/Withdrawals
Once traders are ready to play with real money, various deposit and withdrawal methods are available. Visa, Mastercard, and PayPal accounts are just a few of the options to utilize. In 2016, IQ Option transitioned to instant withdrawals, which allows them to process 68% of requests immediately. Resulting in an average process time of about 11 hours.
Trading Platform
IQ Option’s trading interface sets the industry standard. The firm recently launched the anticipated v4.0 platform, giving traders full autonomy over window configuration and introducing new technical analysis tools.
An adjustable price graph is the primary visual element. A collapsible menu bar on the window’s left-hand side allows for quick navigation to other website areas. New technical analysis tools, including Plot Type, Time Interval, Graphical Tools, and Indicators, are accessed from a menu located at the bottom left corner of the price graph.
Mobile Apps
Traders on the go can make use of IQ Option’s updated iOS and Android apps. For Apple users, the app is compatible with iOS 9.0 and higher. Android users can download on version 4.4 or higher. Forex and CFD trading are available via the app. In-house engineers paid close attention to detail when developing these apps to maintain continuity between desktop and mobile offerings.
Other IQ Option Features
IQOption.com offers clients other notable benefits. Hosted tournaments (non-regulated countries only) allow traders to showcase their financial savvy and compete to earn extra financial rewards. A suite of educational training material gives customers ample opportunities to improve their insight. Technical analysis tools aid in deciphering trends and forecasting market variations. IQ Option works hard to build brand loyalty.
IQ Option Commission/Costs
Here’s a breakdown of IQ Option costs traders will encounter.
Deposit Fees
Customers enjoy zero deposit fees when using IQ Option, and the minimum deposit amount to get started comes in at a whopping $10, making the entry point well below most competitors.
Transaction and Commission Fees
Commission fees from IQ Option are rare, and many users will never experience any. However, opening certain crypto positions subjects customers to pay up to 2.9% in fees.
Overnight/Swap Fees
These are fees charged specifically on positions traders leave open overnight. Overnight fees vary between 0.01% and 0.5% of a given position. Brokers charge these fees to cover leverage costs traders use overnight. IQOption.com makes it quick and easy for users to check their swap rates and account for fees beforehand.
Dormant Account Fees
Accounts that remain inactive for 90 days will start receiving a charge of approximately $10 each month.
Familiarize yourself with all costs and associated charges here.
Customer Support
IQ Option has layers of customer support services. Admittedly, financial products like CFDs are complex assets and carry serious risks. Investors can lose money, lots of money. IQ Option recognizes the potential adverse outcomes and works to mitigate those possibilities.
Demo Account
Utilizing the free demo account is paramount to successful entry into financial trading on IQOption.com. It prepares customers to launch a real account or even upgrade to the VIP version and trade confidently. Additionally, the educational suite on the website offers almost 150 video tutorials covering a range of topics. Educating consumers is the best way to support them.
Virtual Chat
Communication is key to customer support also. Money moves and fast. Customers require quick answers when troubleshooting problems. IQOption.com reports that virtual chat inquiries see a response in 43 seconds. That wait time is one minute and seventeen seconds faster than the company posted in 2014.
Virtual chat is the quickest way to speak to a customer support specialist. Longer, more complicated questions are encouraged via email. IQ Option recently marked the email response time at 20 minutes. A “Help” and “FAQ” page can also be found on the website, offering the answers to common questions about account registration, deposits/withdrawals, and trade tools.
The multi-lingual Support Team is made up of 79 specialists and operates 24/7. On the website, you can locate the support number for your native speaking language.
IQ Option Licenses/Regulations and Security
IQ Option is recognized globally as one of the industry’s best brokers. To maintain its position, strict adherence to international regulations and security requirements is necessary. As mentioned earlier, the company is registered in Cyprus and regulated by the CySEC, allowing it to service clients within the European Economic Area (EEA).
The CySEC allows IQ Option compliance with the Markets in Financial Instruments Directive (MiFID). MiFID is a European regulation that functions to increase transparency across financial markets within the European Union. Operating under the CySEC also adds a layer of security for traders with investor compensation schemes.
Approved by the EU in 1997, the directive on investor compensation schemes protects investors by providing compensation if an investment firm folds and fails to return investor assets.
The firm also operates a sister company under the title IQ Option LTD, based in Mahe, Seychelles. The Seychelles Financial Services Authority (FSA) regulates IQ Options LTD and provides a service platform for traders outside of the EEA.
Is IQ Option a Scam?
For all the cynics out there, rest assured, IQ Option is not a scam. Instead, it is a global leader in the financial trading industry. From a quantitative position, the firm’s reputation speaks for itself.
Since 2013, the consistent, exponential growth in active users and daily trades demonstrate IQ Option’s success. Between 2015 and 2017, the registered user count grew by 17 million. They must be doing something right.
Is IQ Option Good for Beginner Traders?
IQ Option fits the beginner and experienced traders’ needs alike, making it a universal platform, obtainable for all. A “Real Account,” which gives users restriction free trading functionality, is initiated with a $10 minimum investment. This account provides access to 70+ assets, and user withdrawal requests process within 24 hours. The question almost becomes, “Why wouldn’t you?”
Innovation and customer service remain at the forefront of the company’s interests. IQ Option is not idling at the top; instead, they find ways to reward engagement and attract new traders. For example, they offer an affiliate program for users looking to generate an additional stream of revenue.
If a new user starts trading after registering through an affiliate link, the affiliate member associated with that link can earn up to 50% of the broker’s profit from the new client’s activity. The payout will continue for the life of the user. It’s clear how encouraging the affiliate program can be.
What Do Online Reviewers Think About IQ Option?
Online reviews for IQ Option are mostly positive, but of course, there are some negative remarks out there. Some reports claim that withdrawing funds is periodically challenging or that accounts get blocked by mistake.
The most notable con to report is that IQ Option is not open to countries like the United States, Canada, and Japan. Droves of financially literate residents in these countries aren’t able to join and enhance the platform. However, in catering to over 200 countries, IQ Option maintains a strong user portfolio.
Final Verdict
Overall, IQ Option gets the nod of approval.
To learn more check out IQOption.com.
