IQ Option Review Scam Broker And Real
One of the hardest things to do when it comes to trading binary options is to pick a site to trade them on. There are literally hundreds of choices out there depending on wjaphere you live. That is why we take our job of doing reviews so seriously because we know you don’t have the time to go through and look at all these sites to trade on yourself. Today we will take a look at an innovative and progressive binary options broker called ‘IQ Option’.
IQOption is operated by IQOption Europe LTD, located in Silver House Business Centre, 19 Spyros Kyprianou Avenue, 3070 Limassol, Cyprus and regulated by CySEC, license number 247/14. Support is available on telephone number +357 25 262 010.
Is IQOption a Scam?
IQOption haven’t raised any major Scam suspicions so far. In fact it’s a transparent brokerage, operated by IQOptions Europe Ltd., a company regulated by the Cyprus Securities and Exchange Commission (CySEC), under License number 247/14. The company who operates the website is also easily found in their “Contact Us” section so I guess there’s no reason to be worried.
Yay! Free demo account is now available upon registering a new account at IQOption. Take advantage of the demo for a limited time offer!
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Editor’s Note – Why IQOption Doesn’t Suck in 50 Words
Finally, after what seems like ages, I find a brokerage that doesn’t look like a carbon copy of every other broker on the market. IQ Option is trying to do something different starting with the website layout, the education and of course the innovative, highly functional, trading platform. They also offer a free Demo and I mean really free, without any of the shenanigans like “Deposit 100 bucks in a real account and we will give you a free demo”. I opened the Demo in about 15 seconds.
Why Does IQOption Suck in 50 Words
I am sorry to say but their expiration times are too limited and I believe this is one of the main issues I have with this broker. Expiry is pretty dynamic, but all purchased options expire by the end of the day at most, so long term traders will feel left out. However, that being said, this is one of the better platforms for short term intra-day traders. Other reasons it may suck is a relatively short asset list and the fact they only have call/put (high/low) style options.
Should I Open an Account with IQOption?
Right from the start I can see I am not dealing with the usual Binary Options website that shows me a glamorous girl, a limousine or stacks of money. The first thing you will notice is that the home page is free of cheap marketing tactics and instead show me 3D chart which moves continuously. To be honest that makes me feel like I’ve accessed a trading venue, not an online casino like a lot of the other brokers on the market.
IQ Option entered the marketplace in 2013 and since then they’ve done a great job at differentiating themselves from other brokers. First of all, their platform is proprietary, you won’t find it anywhere else. The biggest advantage is the charts, where Japanese candlestick charts and a few technical indicators like Moving Averages or Bollinger Bands can be used.. This is a big thumbs up because as we know, usually binary options brokers severely suck when it comes to charting and additional technical tools.
Something that many traders will be happy about is IQ Option’s low minimum deposit of just 10 US Dollars, and of course the free Demo account that is really free. Registration is easy and you can start trading immediately on Demo – for a real account, your IDs need to be verified as is the case with all CySEC brokers. Traders who want to feel “special” have the option to open a VIP account for as little as $1,000 and they actually get VIP treatment: up to 60% return in the case of OTM trades.
The asset list is OK but not as full as other platforms, there are 78. Only one commodity is present, gold, and only 6 indices, EU and US, but the forex is really good, 22 of the top pairs. Expiry is great, for intra-day traders, and can be set down to the minute. Longer term expiry is not yet available. Options are limited to high/low, there are no range, boundary or one touch.
Interested in opening an account with IQOption? Start with as low as $10! or check out these Recommended Binary Options Brokers.
IQOption Complaints
As mentioned, the brokerage is very new and not a lot of complaints have surfaced. We found an angry client on pissedconsumer.com but I can’t really understand what he is mumbling about so I believe it would be best for you to check out this broker on your own. If any intelligible complaints appear, we will keep you informed.
IQOption Bonus
The Bonus amount differs depending on the deposited sum and can go as high as 100% for a $5K deposit. The required turnover is 25 times the Bonus, which is pretty good for the industry. I recommend you ask for further information regarding the Bonus and also that you read the Terms and Conditions before accepting a Bonus.
IQOption Withdrawal
The minimum withdrawal is $10 and as far as time is concerned, a transaction will be processed in 3 working days for a Real account and 1 working day for a VIP account. The money must go to the same source they originated in order to prevent money laundering. Also, before being able to withdraw, clients have to provide identification documents, which is another practice required by anti-money-laundering rules. Further, withdrawals can be made by just about any eWallet on the internet which gives the fastest payouts, within hours of processing unlike CC or wires which could take another 7-10 days.
IQOption Extras
Candlestick charts are considered an extra for binary options brokers even in this day and age. It makes me almost sad to say it, but it’s a fact so they get bonus points for it. Their innovative platform can also be considered an extra feature as are the many tournaments for trading that they offer.
IQOption Ratings
User Friendly 18/20
The website is available in eight languages and that is satisfactory but the platform can be a bit hard to get used to, especially for a new trader; however, I don’t think this will be a big problem because it’s pretty intuitive. Everything else on the website is well structured and easy to find. US traders are not accepted.
Number of assets and expiry times 15/20
They offer 35 stocks, 22 currency pairs, 1 commodity and 6 indices, which is too few for a broker who wants to become a leader. The expiry times are limited to “Turbo options” (60 sec, 120 sec) and short term (15 min, 30 min, hourly) with the longest being end of day.
Commissions, Support and Effective return 17/20
There are no commissions to use this broker, standard for the industry. Support is little iffy, there’s no Live chat, only phone or email which isn’t a problem once you open an account. The effective return goes up to 92% which is one of the highest in the industry, and they also have a OTM refund that can be pretty substantial for VIP traders.
Deposit, Payment and Bonus 18/20
The minimum deposit is $10 for a Real account and $1000 VIP account. Deposits can be made via credit cards, wire transfers and e-wallets including WebMoney, Skrill and CashU. Withdrawals can be made through the same methods. The Bonus percentage goes as high as 100% and the wager is 25 times the Bonus amount. Withdrawals are processed in 3 days and can pay out as fast as 3 days, provided you use one of the eWallet methods.
Extras 16/20
As I mentioned before, their platform is an extra on its own because it is unique. Just a basic form of technical analysis can be conducted but it’s still much better than what others have to offer. The tournaments are another nice extra as they allow for lots of extra income, for the best traders of course. Lacking some features most major platforms includes.
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