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IQ Options are a comparatively new player within the market of binary option brokers. Since being formed in 2013, the company have been growing steadily and fast. Given their growth, IQ Options are now one of the largest binary option brokers out there. Their success can be assigned to the fact that they offer low minimum deposits, thereby reaching a much larger group of traders, and also the trading platform itself being very user friendly.
- Demo account – Yes, are available with no time limit.
- Minimum deposit – £10
- Minimum trade – £1
- Maximum trade – £10,000
- Signal service – Yes
- Mobile app – Yes
Types of trading
Since IQ Options started, they have added a few more trading options than binary to their platform. Beside binary options trading, they offer turbo, forex and CFDs. IQ Options were on the forefront of cryptocurrency trading, giving the opportunity of direct trading in Bitcoin, Ethereum and various others currencies.
The turbo option is just traditional binary option but with shorter expiration times, usually in the minute levels.
Forex trading is a traditional foreign exchange, which gives the trader the possibility for payout per pip.
CFD is also offered on the platform. The accessible markets include the latest cryptocurrency markets such as Bitcoin and Ethereum.
IQ Options have also added the tools ‘stop losses’ and ‘take profit’, so that CFD and forex traders have all the options they would have had on competing products.
Speculation or scam?
The company is regulated by CySec, the financial regulatory agency of Cyprus. Given that they are licensed by a major European financial regulatory agency, they can be considered as trustworthy as any. Furthermore, they were given the award ‘most reliable binary options broker’ in 2014, from the institute MasterForex-V.
You can read more about what people think about IQ options by visiting this link.
Their Trading Platform
IQ Options have introduced a new and much awaited v4.0 platform. With this update, IQ Options have really raised the bar for all binary options brokers.
The older perks of the platform continue. You can still configure the platform in any way you want. You can move around trading windows, make a singular trading window, or adjust it so that you can manage a collection of windows at once.
New technical tools have been added to enhance the experience and competitiveness for traders. Traders will be able to change their plots into the format they prefer. Available options are candlestick, line, bar and a default area graph. Each of these can be modified as well to suit the traders preferred color and appearance.
There has also been added an area of flexibility, by allowing traders to either expand or collapse the timeframe of the graph. This permits traders to dive into price charts with greater accuracy.
A variety of graphical tools have been provided in the v4.0 platform. Traders will now be able to expand their charts, draw their own interpretations, add trend lines, and add support and resistance lines. All of these options give full freedom to the traders and can be used however they see fit.
IQ Options have suited their platform with 9 brand new technical analysis techniques, which can be put over the price graphs. You can add the MACD to run with the moving prices or use Bollinger bands. Finally, IQ Options lets you apply the smoothing ratio on the stochastic oscillator.
The accumulated power of all of these tools is as powerful as the higher cost CFD and Forex brokers competing with IQ.
IQ Options provide a platform suited for a mobile app, and it is accessible both for apple and android. The app keeps the simple trading area, that is known from their website. The layout can still be modified to suit the individual trader, and withdrawal requests can be made.
Withdrawal and deposit
Deposits can be made with all major credit cards, as well as online transactions as Skrill and Neteller and wire transactions. Deposits by Paypal are not accessible. Minimum deposits are £10, and a deposit of more than £3000 will give the trader access to the VIP account type, which offers improved returns on certain markets, VIP training material, and an account manager.