Different time frames can be applied and no fewer than 9 charts can be displayed at the same time. IQ Option provides its customers with its own platform specifically designed to meet their trading needs. IQ Option is a regulated broker under the jurisdiction of the Cyprus Securities Exchange Commission (CySEC)in a holding company using the name IQOption Europe LTD. A benefit for clients of being regulated by CySEC is the fact that is also a member of the Investors Compensation Scheme. Under this scheme, each clients’ funds are protected up to a maximum amount of $/€ 20,000.
- In a world of online trading, IQ Option has cemented itself as one of the most trusted and reliable platforms to trade with.
- IQ Option runs on a top-tier trading platform which uses proprietary software to provide you with a demo account and real money account options.
- Furthermore, IQ Option does not offer clients proper trading platforms such as MetaTrader, cTrader and does not even have the possibility to connect the broker with TradingView.
- This means when the stock price is at $20, the stop-loss will trigger once the value of the asset is below $18.
Scores of local toll-free numbers are available on the Contact page of the website, for a number of European, Asian, African and South American countries. All crypto-trading at the site is CFD-based, even though at one point in the crypto section, the site lets on that crypto currencies can actually be bought. That does not seem to be the case once one is trading away on the platform.
The company is based in Mahe, Seychelles, and is regulated by the Seychelles Financial Services Authority (FSA). As a regulated broker under CySEC, this means that IQ Option is also a MiFID compliant broker. In other words, IQOption is permitted to offer its services to clients within the EEA.
Traders who value flexibility and control over simplicity may find them restricting. If you are not a phone call type of person, there are also other ways to get in touch with IQ option. It is possible to email them and get the information you need with ease, although this might take a bit more time than you are okay with spending on this. Instead, if you want immediate assistance, you could go for the live chat option offered by the broker. The live chat is only available to users who are already registered with the broker and have logged into their account. But once you have access, you can get in touch with the company 24/7, no matter whether you are trading with IQ Option Africa or anywhere else in the world.
The primary source of income found during this IQ Option Forex broker review are spreads. And with currency pairs, bid/ask spreads go as low as 0.4 pips (0.7 for EUR/USD). As you can see, these are very acceptable spread charges for a broker that mainly depends on these commission types. After covering IQ Option’s trading instruments and their leverage offerings, it’s time to move on to the commission levels that they’re accompanied with.
Iq Option Broker Review
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 iq forex broker review you can deposit money into your account. As of this review, IQ Option offers 300+ different assets to trade. IQOption started as a binary option broker, but offers CFDs on Forex, Exchange Traded Funds (ETF), Stocks, Cryptocurrencies, Indices and Digital Options.
The position auto-closing feature on the platform works as a stop loss and take profit. This tool can be set to a specific profit/loss amount, percentage number or asset price. When it reaches or drops to the figure you specified, the trade automatically closes itself. By using this feature you secure your positions and you know that you will not lose more money than you are willing (or secure your earnings). Recently, IQ Option also added to the trading platform “Trailing Stop” which makes your stop-loss dynamic.
Is IQ Option suitable for day trading?
Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here. Our research focuses heavily on the broker’s custody of client deposits and the breadth of its client offering. Safety is evaluated by quality and length of the broker’s track record, plus the scope of regulatory standing. Major factors in determining the quality of a broker’s offer include the cost of trading, the range of instruments available to trade, and general ease of use regarding execution and market information. It is a reliable broker for trading Binary Options, Forex, CFD, and more.
The feature that allows it can be found in the left menu of the trading room and is called “leaderboard”. Here, you will see the gross profit that traders made over the week, the metrics include transactions executed only on real accounts. IQ Option does provide an extensive video library for education purposes. Since most traders at this broker are millennial ones, who generally have a preference for short videos over written content, the educational section at IQ Option caters perfectly to the core client-base.
Trading platforms on IQ Option
We might have thought that IQ Option fraud is a very certain possibility if we had seen that the social media pages are dead or dying. Now that we have seen that they are very active, thriving and have built an effective community, we are excited to say that the broker is very far from being a fraud. The broker is even verified by Facebook, which gives it a huge advantage in terms of trustworthiness over all of the other brokers we have seen. When you are going through their “About Us” tab, you won’t really find that it contains much information about the company itself. We don’t mind a bit of bragging, but we also like to find useful and relevant information about the company, in their about us page. Therefore we had to go ahead and dig a bit deeper in order to find out where exactly the Forex broker is based and provide more detailed information in this IQoption review.
From rainbow strategy to technical analysis a trader’s choice is endless. A winning strategy for EURUSD may not work for trading oil, and learning lessons from a 60-second strategy may not improve results for 5 minute or longer trades. Both types of trading account entitle the trader to participate in the IQ Option’s weekly trading competitions. However, the VIP account will entitle the account holder to additional trading benefits like free participation in the trading promotions, 3% additional returns, and the service of a personal manager. But for traders that are outside the EEA, their accounts are managed by a separate sister company called IQ Option Ltd.
Compare IQ Option with other approved brokers
So where a trader believes a strong price move is imminent, payouts reach 2000% and more. There are regular trader tournaments across the trading platform – each carries its own set of terms and conditions. These are generally competitions based on trading success with a leaderboard. They are a method by the broker to encourage trading, so the tournaments are usually decided via the amount of total profit over a given period. They offer a great way for traders to compete against each other and create a lot of interest. The terms will often vary – so one tournament might focus on short-term options, while the next might look at a specific asset class, like forex.
Because the interest rates are different for the two assets in one pair, there will be a time when either you or a broker will be in a disadvantageous situation during long-term trades. In those cases, the difference in interest rates is paid by or to traders in a form swaps. As we have discovered during this IQ Option review, and as the name of the broker suggests, the main trading instrument here is options.