IQ Option Review: Stocks, ETFs & Forex Broker Updated 2023
With tons of good macro data coming out and earning season soon, I don’t want to miss opportunities in the market. This is company is 100% scam and they admit it actually in their general https://traderoom.info/ terms and conditions. In other words, to withdraw $1’000 you will have to deposit $1’000. No matter how good you are and how much you will win, you will never get your money back.
- The platform also comes with a wide selection of trading tools, including technical indicators such as Moving Averages, Bollinger Bands, MACD, and RSI.
- The broker that allows real trading starting at $10 appeals to new and existing clients mainly with its ultimate trading platform, and competitive fees (spreads).
- However, platforms like Plus500, XTB, and eToro provide a broader range of options.
- But for citizens of eligible countries interested in investing in options, forex, ETFs, stocks and other assets, IQ Option has a lot to offer.
I enjoy trade on their web platform
This option can be chosen only if you have a candlestick or bar graph, it does not work for the line chart. Here, you select what time interval should each candle or bar represent. So, if you choose 5 minutes, each candle/bar will represent 5 minutes of market movement. That means the chart at which you will be looking is going to show you the asset movement of the last 3 hours. To change the time frame of your graphs, you can choose from 18 popular time intervals.
Horrible experience
IQ Option is owned and operated by a company within the European Union. As such, IQ Option has a license from CySec, the Cyprus Securities and Exchange Commission. To receive that license, IQ Option met, and must continue to meet, minimum requirements related to marketing restrictions, client funds, and trading products.
My trading become more profitable
These candles indicate a period of time, with solid colors indicating volatility during the given period and points marked for the price at both the beginning and the end of the given period. Stop loss orders let traders set maximum losses that they will accept, automatically closing the trade if it is triggered. Take profits do the same thing but when the trade reaches the profit you specify.
Yet, its design integration with the trading platform could be improved. IQ Option does not impose direct trading fees (for selling or buying assets). However, they do apply a spread between the buying and selling prices, which benefits IQ Option. The size of this spread varies based on the asset being traded.
You can participate in any of the weekly online tournaments and all the entry fees are waived. VIP account clients also get an average of three percent bump per profitable trade that is deposited to their account post-trade. This free practice account is identical in every way to a real account, including the market movements that take place inside it. But instead of real funds, it is funded with $10,000 in virtual funds so that you can try out the IQ Option platform before opening and funding a real account. But here, this is NOT the same as saying that using IQ Option (as opposed to another online trading platform) is risky. Fundamentally, IQ Option itself is a legitimate online platform from which to trade in a wide variety of assets across various risk profiles.
The program even provides analytics, complete with reports that include data filters. Trading on IQ Option is relatively intuitive and the trading platform is very well designed. You will see the chart is in the center with buy and sell boxes to the right hand side. Your balance is displayed at the top along with any assets you are currently trading.
An interesting feature of the IQ Option trading platform is the trading community and leaderboard. In the trading community, you can discuss trading ideas and opportunities with other users, share insight and choose other traders to follow. In countries where binary trading is permitted, users particularly appreciate having access to the more sophisticated trading views and tools that can also be used with different asset classes. IQ Option is not a newcomer to the online trading platform industry. In fact, it has several productive years under its belt and is still growing and expanding.
Different countries will have different requirements and also will need verification to make withdrawals from the site. The cost of trading is really low, the spreads are great and there are no extra trading fees. There are various payment methods of depositing money, based on which country you are from. Bank transfers are popular, you can deposit with your credit or debit card, e-wallets, or with cryptocurrency wallets. You need to finish the account verification process before you can deposit money into your account. Unfortunately, IQ Options charges inactivity fees, which you will incur should your trading account remain dormant for over 90 days.
Unlike other platforms, the demo account here does not come with any time limit. Users can use and get accustomed to the platform for as long as they want, test new features and new trading strategies. IQ Option offers a mobile web trading solution in addition to a specific mobile application, which gives users greater flexibility regarding mobile trading options. The app has a clean, intuitive graphical interface and is easy to use; it also has most of the charting options found on the standard platform. The app also provides push notifications, and users can set key trading levels which result in alerts any time these levels are breached.
Between 2013 and 2014, the number of daily transactions increased by nearly 70 times. For those interested in specifics, 2015 had an average of 646,000 transactions each day, which increased to 956,000 by 2016 and 1.8 million by 2017. IQ Option also offers area charts that show the price in the form of a line, complete with shading for the area underneath.
Some of the available popular indicators also include text or video guides on how to use them when trading. Currently, there are over 110 video tutorials that traders can use to understand how certain indicators work or to watch the news. The broker also offers an Android/Apple application very similar to the computer version that you can download to your smart device. Regarding the leverage and spreads, they both differ depending on the traded asset.
Unfortunately, IQ Option does not offer the widest variety of assets for you to trade with. At the moment this review was written, it only has a total of 260 in stock, ETFs, Forex, commodities and cryptocurrency iq option broker review CFDs. Overall, we can conclude that IQ Option is a prominent forex and CFD brokerage platform, offering a user-friendly interface, extensive instructional materials, and competitive trading conditions.
The platform has been generally well designed with an intuitive approach and it’s quite easy to locate all the various tools and features. The free demo account also provides users with the possibility to trade with all of the underlying assets. As a result, there are a variety of options regarding types of trades and users can quickly switch between their preferred assets.
