You are an investor looking for reputable brokers. You want to find information about trading platforms such as IQ Option, Olymp Trade, Binomo. What is IQ Option? How does it work? How to deposit and withdraw money? This is the article that will give you the answer – The most detailed and objective review on this trading platform.
What is IQ Option?
IQ Option is a leading online trading platform. It allows you to trade many financial instruments including digitals, stocks, foreign exchange, ETFs, commodities, and cryptocurrencies.
Founded in 2013, IQ Option has quickly become one of the most popular trading platforms in the world. It has over 48 million registered traders and more than 1 million transactions per day.
IQ Option trading platform
IQ Option does not use the same trading platform as other brokers. It has an exclusive custom-built trading platform, which is convenient for traders.
This platform is easy to use and beautifully designed. It also has many useful features including multiple charts layout, technical analysis indicators, historical quotes, volatility alerts, market updates, economic calendars, tournaments, etc. They are all descriptive in 17 different languages.
In the platform, The investors can trade a wide range of assets and financial instruments including:
(1) Select the pair of assets you want to trade as follows: EUR/USD, USD/JPY, AUD/USD, etc.
(2) The price chart with the following patterns: Japanese candlestick, Heiken Ashi candlestick, bar, and line.
(3) The candle time period: 1 minute, 5 minutes, 15 minutes, etc.
(4) Technical indicators used for chart analysis.
(5) The expiration time.
(6) Customizing the expiration time manually in line with your strategies.
(7) The invested amount for each order.
(8) Predicting the direction of the price: HIGHER (up) and LOWER (down) buttons.
Types of assets available for trading
IQ Option was originally just a digital broker. But now they have developed and provided clients with contract transactions on cryptocurrencies, ETFs, Forex and even stocks.
IQ Option allows you to trade digitals with over 169 best-performing stocks without paying an opening fee. The minimum investment is $1 for stock digitals. The portfolio of stocks includes some of the world’s largest companies such as Apple, Tesla, Amazon, Boeing, and many others.
Forex trading is one of the most popular trading markets in IQ Option. The platform offers a very low trading fee (commission) for currency pairs such as EUR /USD, USD/JPY, GBP/USD, USD/CAD, AUD/USD, NZD/USD, and USD/CHF Currently, there are 50 currency pairs used for Forex trading in the platform.
IQ Option also grants you the ability to trade digitals on exchange-traded funds, also known as ETFs. An ETF is where many different assets are combined into one basket. There are 25 ETFs currently available for trading.
IQ Option allows you to trade digitals on 27 different cryptocurrencies including Ethereum, Bitcoin, Ripple, Neo, Cosmos, Binance Coin, Litecoin, Cardano, ZCash, TRON, Stellar, Iota, Dash, EOS, and Bitcoin Cash.
There are currently 4 types of commodities including Silver, Brent Crude Oil, WTI Crude Oil, Gold.
Types of options trading and payout
Options trading is a financial instrument. It pays fixed interest for an accurate prediction of the price of an asset for a predetermined time frame so-called expiration time.
Accurately predicting the price movement of an asset can yield returns of up to 95%. Options trading in IQ Option has a minimum investment of $1 and no brokerage fee. The expiration time fluctuates from 60 seconds to 1 month, chosen by investors.
Digitals trading is also a financial instrument. It lets you predict the price volatility of an asset. The payout for digitals can be up to 900% if the asset reaches the threshold specified by traders. The minimum investment for digitals is $1 and the expiry time is from 60 seconds to 15 minutes.
IQ Option provides more than 15 different technical indicators. They help you identify trends, momentum, and entry points with a high probability of winning. In the indicators menu, there are many effective technical analysis indicators, including MA, Volume (exchanged), Bollinger Bands, Alligator, RSI, MACD, Parabolic SAR, Stochastic Oscillator, Great Oscillator, ATR, ADS, Fractal, CCI, Ichimoku Cloud, KDJ, DPO.
This is to help you get the most out of observing the exchange rates of the assets (currency pairs). IQ Option has designed and provided many price charts to help you build an effective trading strategy. Four price charts are available including Lines, Candles, Heiken Ashi Candles, and Bars.
IQ Option app on smartphones
IQ Option offers customers the ability to trade digitals using their proprietary mobile application. The IQ Option app can work on both Android and Apple iOS operating systems. It is available for download through the Apple Store or on Google Play.
The application is easy to use with a streamlined and intuitive graphical interface. The application also has similar chart customization that you can find on the web platform.
By using the application, you can:
– Check your account status.
– Always update the movement of the market.
– Use chart tools
– Set custom alerts and notifications.
Types of accounts available for trading
There are 2 different types of trading accounts to choose from. Standard and VIP.
For standard accounts, only a minimum deposit of $10 is required. Unlike other trading platforms, IQ Option will not restrict your trading. You have access to over 350 assets for trading as well as 24-hour withdrawal processing. You also have access to a number of contests held on the platform.
VIP trading accounts are only available to customers depositing $1900 or more within 2 days. They include personal account managers, monthly reports on your trading records and 3% additional profit.
What is the IQ Option demo account?
Like many other platforms, IQ Option also offers you a free demo account including 10,000 virtual currencies. There is no limit. You can use the demo account for as long as you like.
This gives you the ability to test different trading strategies.
It also helps you familiarize yourself with the interface and operating mechanism before investing real money. If you run out of virtual funds in the demo account, then you can replenish them at any time to continue practicing.
IQ Option has recently introduced a product called “Leverage”. The product basically works like a leveraged transaction in which the price movements of an asset are magnified by a multiplier. Leverage was originally generated with the idea of Bitcoin X 100. This essentially increases the price movement by 100 times, creating great opportunities as well as risks for traders.
IQ Option is one of the only brokers in parallel offering digitals and Forex trading on its platform. Currently, you can do Forex trading with 49 currency pairs.
It also offers traders a variety of orders such as stop-loss orders to help minimize losses or maximize profit on trades.
Stop-loss order – This feature allows you to set the maximum loss accepted for a transaction. When this limit order reaches the amount of accepted risk, it will automatically close to limit your losses.
Leverage – This feature allows you to gain more profits through multipliers. If you set the multiplier exactly with the price movement, your profit will increase by 20 times, 50 times or even 100 times. This feature can significantly increase your profits. But it can also put you at greater risk.
Take-profit order – This feature is completely opposite to the stop-loss order. You can close a profit-taking transaction early or maximize your profits when the specified amount is reached.
Pending order – This feature allows you to enter the market when an asset reaches your exactly specified price. When the asset reaches that price, the transaction is executed automatically.
Prestige and awards
Over many years of operation, IQ Option has won many awards in the world for service quality and reputation. It is recognized by many reputable institutions as one of the best trading platforms in the world.
You can see more awards here: https://iqoption.com/en/awards
IQ Option is regulated by CySec which is registered in Cyprus under the company name “IQ Option Europe LTD”. This means they can serve customers in the country and around the world.
The minimum deposit to open a real account is 10 USD or GBP or EUR. The platform does not charge any processing fees for depositing. For the first time depositing, you’ll need to go through an account verification process that may require your photo identification.
To facilitate the deposit, IQ Option offers a variety of methods to deposit money into your account including credit cards (Visa and Mastercard) and online banking. This broker also accepts many different electronic wallets including Skrill, Maestro, WebMoney, Neteller, Cash U, and Moneybookers.
The minimum withdrawal amount for a single withdrawal is $2. To make a withdrawal request, you need to use the same payment method as your depositing, because the transaction is processed as a refund. This means that if you recharge with your Skrill e-wallet, you must withdraw to your correct Skrill e-wallet address. Or if you recharge through online banking, you must withdraw to your online banking account used for depositing. As a rule, you can withdraw 3 times for free within 1 calendar month.
To withdraw money from IQ Option, you will need to verify your identity. This verification process may take up to 3 days. It is essential to prevent fraud and protect your account.
All withdrawal requests are processed within 1-3 business days. If you request a withdrawal of money to a bank card, it may take longer depending on the bank’s processing status.
After reading this article, maybe your next questions are: Is IQ Option a scam? Can you really make money from this platform? To answer these questions, see you in the following article.