Welcome to this IQ Option Trading Review!
Certainly, there are a lot of different ways to make money online. One of the popular ways to earn extra is through trading online. And this is probably why you are checking this blog right now – to know your best broker option.
Brokers guide traders, most especially the newbies who just took the risk to check out what everyone’s playing online, through a platform. And if you happened to research the most trusted brokers you can work with, chances are you found IQ Option Trading on the top recommended teams to trade with.
But what made them so in demand?
Let’s find out.
Whether you are new to trading or already a veteran, you’ll need or have needed a binary option broker to help you in trading online.
IQ Option Trading is arguably the single most popular binary options trading broker today. Your understanding of the binary options broker you choose to work with is central to how successful your binary trading efforts will be.
So we will introduce you to the fundamentals of IQ Option Trading and find out whether it really is your best option or not.
IQ OPTION TRADING OVERVIEW
Summary: IQ Option is a legit broker and trading platform. You’ll love the minimum deposit and withdrawal requirements of this platform. The tools are very helpful too in understanding the behavior of the trade market.
Product Name: IQ Option
Founder: Dmitry Zaretsky
Product Type: binary option broker
Price: $10 min. deposit, $1 min. trade
Best For: Beginners in binary option trading.
Recommendation: I’ll recommend this binary option broker, most especially to those who are just starting in online trading. You might need to have basic knowledge on terms, though, so you won’t have a hard time understanding what’s happening in the trading platform.
WHAT IS IQ OPTION TRADING
IQ Option is a binary options broker company founded by Dmitry Zaretsky in 2013. The broker operates a proprietary custom-made web platform, as well as Android and iOS App platforms so you can trade anywhere and anytime.
IQ Option is the binary broker with the highest number of subscribers. At the moment, the broker boasts of over 25 million subscribers. This might be credited to the over 92% profit on the staked amount in payout which is one of the highest payouts in the industry.
Already tempted to subscribe? Wait until you find out the other great things about this binary broker.
HOW TO START USING IQ OPTION TRADING
Like any other brokers, the most basic step to getting started with IQ Option is signing up for a trading account. With them, you get three types of accounts you can choose from, including:
1. Demo account – $0
This is good for those who are just testing the waters first before they can decide whether binary option trading the right means for them to make money online or not. This is also for the newbies who don’t want to deposit all their money on a binary options broker account because they have very little idea on what trading in binary options is about.
To give these people a practicing platform and time to understand how the trade works, IQ Option Trading created this Demo account. It mimics the features of a real account and gives users a certain virtual amount to start with. It is the IQ Option without an investment account.
Now, if after practising, you find that you can be good in binary trading, then you get 2 account options to subscribe to.
2. Real Account – $10
The first account is the Real Account which is also the most popular account on IQ Option. You will be required to make a minimum deposit of $10 to gain access to this account.
Once subscribed, you will be given access to the web of brokers trading competition. You can get extra perks by depositing more. If you deposit more than $100, IQ Option will give you free trading signals, and you will get more access to trading opportunities.
While the term “free trading signals” sounds enticing, you have to understand that it does not necessarily help you win in the trading game. Its role is to simply notify you of the possibility of a profitable trade. Your judgment of the trading situation is still the deciding factor of your success. You need to form a strategy. Acting on the prompts offered by the signals is a not a prudent thing to do.
3. VIP Account – $3000
The VIP account requires that you make a deposit of $3000. Yes, it’s costly but of course, the high price comes with benefits. The perks include unlimited access to trading opportunities, personal account manager, and periodic financial markets analysis by IQ Option’s resident analyst.
All these are great services which when properly utilized can earn you some profits. They do not guarantee you any profits though.
The biggest advantage of IQ Option Trading over other brokers is its number of trading assets.
IQ Option has arguably the widest range of trading assets. It has assets in the following categories.
- Stocks – 169
- Forex – 87
- Options – 51
- ETFs – 21
- Cryptos – 15
- Indices – 11
- Commodities – 6
Forex is one of the most traditional currencies trading on IQ Option. For those crypto traders who are slightly more advanced, you can use the Forex pairs in order to set up a crypto trade in your own local currency. For example, you can open a CFD position on the USD cross as well as that of the cryptocurrency USD cross in question.
Furthermore, there are hundreds of traditional stocks that you can trade on the IQ Option platform. There are over 7,500 stocks to trade that are on a number of different global exchanges.
Exchange Traded Funds (ETFs) are collective investment funds that allow you as the investor to trade on an index of stocks. IQ Option has some of the most extensive ETF instruments to trade with.
Trading Option offers crypto, FX and stocks as Contracts for Difference (CFDs). CFDs are derivative instruments that will pay out the trader based on the difference in price at the beginning and end trading day.
CFDs are also levered instruments which mean that you can take a much larger position on a trade than you have available. This could amplify your returns provided that you manage your risk in an appropriate manner.
Other option instruments which made IQ Option popular include their Binary Option and digital option offerings. These instruments are asymmetric instruments. Asymmetric meaning they have a defined loss and profit.
You will lay out a premium for the option trade with these instruments that will usually be only a small premium. Then there’s an expiry time and price of these premiums. If the option expires in the money, you can make a large return of investment. If it expires out of the money, you will lose the premium.
Funding and Withdrawal
Another feature you’ll appreciate about IQ Option is its payment options. You can use your Visa and Mastercard or you can fund your accounts through numerous online wallets like Web Money, Skrill, Cash U, and Neteller.
You can also fund your account through simple wire option which requires lower fees than the first options I mentioned. However, it will take longer (typically 2 days) for the funds to appear on the account.
As for withdrawal, you can withdraw instantly with no questions asked. IQ Option states that your earnings can be withdrawn in under 24 hours. You can also process any withdrawal amount that you would like.
There are things you need to take note, though, when withdrawing. The wiring fees will be charged to you so it will be better to withdraw funds after accumulating certain amount. Also, you can only withdraw in the same manner through which you funded the account.
Inside IQ Option Trading Platform and Tools
One way in which IQ Option really stands out is their state of the art trading technology. Apparently, there are over 100 developers who are constantly working on the platform in order to improve its efficiency. These means functionality and reliability which are very important when trading begins.
The tools that IQ Trading let you use include numerous charting packages such as technical indicators and studies such as Bollinger bands and moving averages.
There are also numerous layout options that are available on the web interface. This is achieved through the use of widgets which can be positioned to the trader’s preference. This is helpful for those traders who would like to be able to trade on numerous different assets simultaneously.
Finally, IQ Option offers its platform not only as web based platform but also as computer based programs. You can download the proprietary IQ Option Mac or Windows trading software. This will connect to the IQ Option infrastructure.
Tool 1 – Order Types
Like most trading platforms these days, you will have a range of different order types that you can submit when trading. On the IQ Option Trading platform, these will differ according to the asset in question. The order types include:
- Multiplier: The multiplier is a coefficient that allows you to increase both the return on an investment and the level of risk.
- Stop Loss: This allows you to set a maximum loss that you are willing to accept. When a stop loss is triggered, it closes the trade.
- Take Profit: A Take Profit works very much like a stop loss expect on the opposite side of the trade. It will close out the trade once a desired profit has been realised.
- Trailing Stop: Trailing Stop makes ‘auto-close at loss’ operate dynamically and move with price in the desired direction.
- Purchase at (Pre-Order): This allows you to set a target price to enter the market.
Tool 2 – Stop Loss Tools
Apart from just having the stop loss order types, IQ Option has some of the most diverse selection when it comes to setting your stops.
This is a major departure from most of the other platforms where you merely choose an asset price for your stops.
Tool 3 – IQ Option Charting
IQ Option has a wide variety of charting options tailored to suit the needs of any trader. There are the following five different options to choose from:
- Area: Shows price as a line with a shaded area underneath.
- Line: Shows price as a line without a shaded area underneath.
- Candles: Shows a period of time, the price at the start and end of the period, and the volatility over the period as solid colors.
- Hollow Candles: Shows a period of time, the price at the start and end of the period, and the volatility over the period as hollow positive candles and solid negative candles.
- Bars: Shows a period of time, the price at the start and end of the period, and the volatility over the period as a vertical line with open and close prices as horizontal lines.
Tool 4 – Indicators
IQ Option offers 13 different technical indicators to choose from. These are the backbone of technical analysis and are used by day traders almost religiously. They are extremely useful when it comes to spotting trends, mapping momentum and identifying potential retracements.
These indicators that you can activate on the charting interface. These indicators are listed below with a brief explanation as to their use. You should choose one which you can easily understand since this will be your guide to understanding the movement of assets.
- Moving Average: Moving Averages are a group of technical indicators that are commonly used to determine the current trend. Moving Averages are used in other technical analysis indicators such as Bollinger Bands, Alligator, MACD and Awesome Oscillator.
- Volume: The Volume indicator shows what amount of the selected asset was sold and purchased within a certain period of time. This is one of the few indicators that are not based on asset price. A high volume indicates a high interest in the asset at its current price and vice versa.
- Bollinger Bands: Bollinger Bands reflects the dynamic range of the price movement. With their help, many traders determine the relative position of the price movement.
- Alligator: The Alligator is an indicator for assessing the market movement direction and filtering no-trend-periods (Side Band). Its main purpose is to display the signal of an emerging trend.
- RSI: The RSI (Relative Strength Index) is used to determine the strength of a current trend and its possible reversal points. RSI compares the absolute asset price growth within a certain time period with the total price reduction within the same period. The result is visualized as curve on the chart with a range of 0 to 100%.
- MACD: The MACD (Moving Average Convergence Divergence) shows the convergence and divergence of moving averages. This indicator is a visualized ratio of two exponential moving averages. Its goal is to determine the strength and direction of the trend.
- Parabolic SAR: The Parabolic SAR is based on the price chart and displayed as a series of small dots. In terms of purpose, it is very similar to moving averages and the only difference is that Parabolic SAR moves with higher acceleration and changes its position depending on the price. When the trend is ‘Bullish’ (Upward), the indicator is below the prices; when the trend is Bearish (Downward) the indicator is above the prices.
- Stochastic Oscillator: Stochastic Oscillator (Stoch) indicates the current position of the price in relation to the extrema within the selected period and is expressed as a percentage from 0 to 100. It gives signals of overbought or oversold conditions and helps identify at what points the market is ready for a reversal.
- Awesome Oscillator: The awesome oscillator is visualized ratio of two Simple Moving Averages (SMA’s)[1x Fast 1x Slow] in the form of a bar chart, Crossing the baseline here has the same effect as crossing SMA indicators on the price chart. This indicator shows the completion and development of new trends. Many traders consider Awesome Oscillator to be a simplified version of MACD.
- ATR (Average True Range): Unlike most indicators, ATR cannot predict the movement direction. It displays exclusively the current volatility of the trading asset within the selected period. Moreover, ATR determines the quote change rate. Active movement of ATR indicates an increase in the range of candlesticks.
- ADX (Average Directional Movement Index): The Average Directional Movement Index (ADX) is always ahead of the curve and shows the strength of a trend (upward/downward trend or weakening) prior to the start of the price movement. ADX indicator can also be used to identify potential change in market volatility.
- Fractal: Fractals are a series of at least five Japanese Candlesticks. The central candlestick is always higher or lower than the surrounding ones. The main purpose of Fractals is to display local minima and maxima of the price curve and indicate market reversal points.
- CCI (Commodity Channel Index): This indicator belongs to the class of oscillators that measure the speed of a price movement. CCI is designed for determining the upcoming market reversal. CCI can be used to assess the strength of the current trend or detect extrema. In general, CCI is very similar to ADX and can also be used as a tool to determine the market trend, as the CCI change rate depends on the strength of the current market trend.
IQ OPTION MOBILE TRADING
Many exchanges and platforms lack mobile trading functionality. This can be disadvantageous for those traders who would like to monitor their positions when they are away from their PCs. Moreover, markets can move really quickly and time is often of the essence.
IQ Option has developed their trading technology on mobile trading devices. They have apps on the iOS apple store as well as on Google play as an android version. They are free to download and you will connect your account to the app when you have it on your device.
Although the functionality has been scaled down in order to not compromise the visual effects of the app, there is still quite a bit of functionality with some charts, indicators and pair choice. It would indeed be easy to manage a number of different trades simultaneously on the device.
Additionally, you have to make sure you are connected to a strong WiFi network to make sure that you don’t experience delay in seeing the current values of assets.
IQ OPTION TRADING COMPETITION
Competition, here, refers to the head to head trading competitions between a number of the users on the platform with prizes on offer.
As traders are naturally competitive to their core, this is a great opportunity for them to test their skills with their fellow traders. These competitions require a small fee to join and usually last for about 30 minutes. Hence, these are more for day crypto traders than those who trade using fundamental analysis.
Prizes are often cash prizes that can be multiples of your initial buy in amount. When you enter the competition you will be given the demo funds to trade with and the trader who was able to make the most returns in the period will win the loot.
It is important to note, however, that these competitions will require a certain minimum of traders to enter before the competition gets underway. If they are not able to garner the right amount of traders then the daily competition will be called off.
While this will no doubt bring an angle of fun to the trading, we found it slightly gimmicky. However, for those who want have a shot of making 100x their buy in amount while testing their skills, it could be a great option.
IQ TRADING OPTION ISSUES
One of the most pertinent issues about binary options trading is licensing. The first concern you should have is whether the binary options broker you want to trade with is licensed and regulated. IQ Option is licensed and regulated by the reputable licensing and regulatory board CySec (Cyprus Securities Exchange Commission).
This commission is renowned for ensuring that binary options brokers are legit. They give room for traders to launch any complaints if they feel they have been duped by a broker that is under their regulation.
The recognition of CySec allows binary brokers under it to operate in many countries. Hence, IQ Option can operate all over Europe and in other countries around the world. Unfortunately, you cannot use it in USA and Canada.
Overall, know that you are trading with an authentic binary options broker, and the charts you get on the platform are actual financial markets charts.
Winning or losing is dependent on your prowess as a trader. So you still have to come up with a strategy. Experiment and see what works for you.
WHAT I LIKE ABOUT IQ OPTION
IQ Option offers various tools that make the strategies possible. This broker educates you on how to compare various patterns and draw logical conclusions, and this is something you won’t find with many binary options brokers.
Another is that their trading platform is quite intuitive and user-friendly. If you are a beginner and don’t know anything about trading, this platform can introduce you to the basics and until have good understanding of binary option and can come up with your own strategy.
Payouts are quite impressive. It isn’t that costly too to start trading with them as the minimum deposit is only $10. Withdrawal, on the other hand, can be as low as $1 or $2! What else?
- More chances of making money – They offer a wide range of assets to trade with.
- 100% Legit – IQ Option is regulated by the respected CySec.
WHAT I DON’T LIKE ABOUT IQ OPTIONS
IQ Option is not open for all. It does not accept traders from various countries such as USA, Canada, Japan, and Israel, among others.
Also, this trading platform requires fast and powerful devices. You might experience challenges if you are using an old and slow machine.
IQ OPTION TRADING – WHO IS IT REALLY FOR?
It claims to be best for beginners but going over the technical terms here, you need to at least have basic knowledge on trading. This is so you can understand the platform from the beginning. It may take time for you to start trading when you still need to be taught the basics.
You can, though, too. It might be nice too to have someone guide you through these terminologies. Overall, it depends on the trader if he is more comfortable with learning by himself or if he can comprehend things better with a guide.
The demo account is a great place to start if you want to learn trading at IQ Option. No losses, only gaining knowledge and experience.
For those who are already into trading, IQ Option is no doubt a great broker and platform option for traders who want to trade derivative instruments on a range of different cryptocurrency pairs, Forex assets, stocks and ETFs.
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