In this post we will provide a detailed review of IQ Option, which is an online broker and platform that is very well known both in Europe and across the rest of the world, particularly in Latin american and India.
IQ Option is a regulated and certified platform, therefore, this means that as a client of theirs, you are entrusting your funds to a company that complies with the laws and regulations because they are obliged to but more importantly because they are subject to continuous checks by regulatory agencies within the countries they work in.
IQ Option has implemented Forex Trading services and also the popular CFD Trading in their platform which cover currency trading.
With iqoption, however you can trade also in other different different assets such as indices, stocks, and commodities (raw materials such as gold, oil etc).
IQ Option Review: Is it a Safe Broker?
The IQ Option platform is regulated with license no. 274/14 granted by CySEC.
It is also authorized within SEE (European Economic Area), therefore, IQ Option is included in other registers that allow it to be operational in several European countries such as, for example, in the register of Consob (National Commission for Companies and the Stock Exchange), which is the governmental body responsible for regulating Italian financial markets.
It is also included in the register of the FCA (Financial Conduct Authority), which is the UK regulatory authority.
So if you are wondering if IQ Option is a safe platform, then rest assured that it is since, as we have already seen, it is an authorized and regulated broker.
Services Offered by IQ Option
IQ Option can easily be considered one of the best Forex platforms because of the different functions it offers and ease of use, and also because it gives everyone the opportunity to invest in online currency trading, even if they wish to start with a very low investment capital of say $10 and trade with small positions.
Having said this, we always want to remind you that trading can lead to losses as well as gains, depends on your level of experience and knowledge.
Don’t worry if you’re not experienced in forex trading. One of the best features of the IQ Option platform is that it provides the opportunity to everyone to use a Demo Account. This is a recommended specifically for beginner Traders, that is, those who have not yet acquired the right experience to operate with the Real Money Account.
IQ Option for Forex
The secret of being successful in the foreign exchange market is knowing the when is the right time to sell or buy currency pairs.
This is why traders are constantly monitoring the value of securities and assets, however, in the world of Forex trading, the monitoring and update process is even more important and difficult because the exchange rates of the currencies undergo extremely rapid changes, much faster than those of the traditional stock market.
Furthermore, this can happen at any time because the Forex market is always open and it is always possible to carry out transactions.
The change in the value of a currency is influenced by various factors, starting from supply and demand as happens in the stock market; but also other economic, social and diplomatic factors, such as the stability of a country.
Having explained this, then you can appreciate how constant control and monitoring is necessary to be able to make a good profit in Forex trading and here is where the strongest aspect of the IQOption platform lies.
The platform allows you to ascertain the market trends in real time. In this way, monetary currencies can be kept under control quickly and easily.
In fact, there are few platforms out there with the capacity to that allow users to analyze historical trends and have at their disposal a history that they can freely consult.
IQ Option Cryptocurrencies
Within the online brokers world, IQ Option has always distinguished itself and today boasts an offer that is unmatched. While other brokers shy away or limit Forex trading with crypto currencies, IQ Option has done exactly the opposite, it has increased the range of crypto-currencies, while improving the tools dedicated to investor protection.
So this is probably the biggest strength of IQ Option, that is, its attention to investing in cryptocurrencies and in this aspect, its platform is an example for all other brokers.
The main advantage of trading with cryptocurrencies is the ability to make quick transactions. Buying and selling cryptocurrencies with iQ Option is very simple and follows the same logic as when trading in regular currencies.
The range of cryptocurrencies offered on this platform is one of the largest in the sector. As a Broker, it has not stopped to the simple Bitcoin, but has made available all cryptocurrencies including Bitcoin, Ethereum, Ripple and many others.
IQ Option however has gone a step further. True to its mission to be one of the most innovative brokers when introducing new financial instruments, it boasts in being one of the first online platforms to include the possibility of being able to invest with CFDs on cryptocurrencies.
in fact it offers the possibility to trade also with cryptocurrencies with the highest market capitalization through CFDs (contracts for difference).
Once again we advice to try the free demo account if you’re going to be trading in crypto CFD, before starting to invest real money, so that you get a chance to familiarize yourself with the process and the cryptocurrency pairs and their movements.
There is also the opportunity to connect an autotrading robot to the iQ Option platform. This is a Crypto trading robot that will carry out your trading operations automatically.
To conclude this section, here is a list of the current cryptocurrencies offered by iQ Option which you can trade in:
- Bitcoin Cash;
- Bitcoin Gold;
- Ethereum Classic;
Why Choose IQ Option as Your Trading Platform?
Mainly because IQ Option offers different products and services dedicated to cryptocurrencies and because IQ Option offers complete training on investments in cryptocurrency;
So, in other words if you’re not interested in crypto currency trading then we would suggest you try one of the other currency trading platforms on the market.
On the other hand, if cryptocurrency trading is high on your agenda then you should definitely try out IQ Option. We truly believe that once you register for a free demo account and start using the platform it will not take you long to familiarize yourself and start investing funds to trade in crypto with this platform.
IQ Option Learning Database
The world of online trading may seem very confusing at first glance, a world in which the only ones able to understand something are expert traders.
It is perfectly understandable that an inexperienced trader has a negative experience and can be discouraged in front of graphs and numbers that scroll on the screen, without an apparent sense.
Having said this, if you’re just starting in Forex Trading you can find a lot of information on the internet, hekk, we’ve got our own course also. There are also numerous online trading platforms which offer free training and IQ Option is one of them.
The IQ Option platform offers a knowledge center where you can acquire all the necessary training!
Certainly having a solid understanding of the market dynamics can be very useful, however this does not mean that you cannot gain experience in the field also.
Forex trading today is particularly accessible also because opening an account no longer means depositing large sums of money. Now you can open and trade on specific practice accounts for those who are just starting out.
A practice account with IQ Option is free to open and lets beginner Traders experiment their trading strategy in real life Market conditions without risking any of their money. The chances of making profits from Forex Trading are greater with good investment strategies and a beginner Trader can test firsthand which strategy works best for him or her without having to worry about any costly mistakes.
What Does Demo Account Offer on IQ Options?
First off, to open the Demo Account you do not need to deposit real funds in your account. All you need to do is register a new account (username and password) on the IQ Options platform and you’ll have access to all the functions of the platform, that is, same functions used by those who trade with the Real Money Account.
In addition, you can trade on any type of market, track technical analyzes and even test all the different functions that are present on the platform.
Once you get used to the platform and to get some experience on how the trading works, you can then open 2 types of accounts:
- the Real Money Account which allows you to start trading with real money. You can open this account with as little as $10 in capital funds.
- the Vip Account: this is for the more experienced users for which you will need to make a minimum deposit of $3,000, but which also comes with various added benefits, such as dedicated customer support and much more.
IQ Option CFD Trading
Trading with CFDs can be one of the most profitable online sources of income, however it is also very risky and unless you really know what you’re doing, chances are that you will lose money.
Having said this, CFD training can also be done on IQ Option’s demo accounts which means you will have the chance to experience it first hand and get some practice under your belt before trying CFD Trading with real money.
There are various theories and strategies identified by experts in the sector that can yield even more possibilities of success to beginners who face this world for the first time.
It is important to use these strategies to maximize your profit and minimize the risk of loss. Without a strategy, long-term returns cannot be achieved.
Good investment strategies all have one thing in common: they are born from experience.
Which means, as a beginner Trader you must personally test the validity of the different trading strategies and see which one suits your level of risk tolerance and which you feel most comfortable using.
Once again, thanks to the Free Demo Account offered by IQ Option, you can do this without having to worry about mistakes costing you any money. As we all know we learn from our mistakes and with IQ Option you can make as many mistakes as you want while not risking any of your capital. Just remember to learn and adapt so you can eventually try your strategy with real money and hopefully make some good profits.
While many other online Forex Platforms also offer Demo Accounts, you will find that there may be a limit on the number of transactions that can be carried out on the Demo account. With IQ Option the Demo account can be used for as long as you want and there is no limit on the number of trading transactions you can carry out on your Demo account.
Furthermore some of the other trading platforms may require you to pay a sum of money, that is, make a deposit before you can start using their Demo account. This is not the case for IQ Option where you can immediately start using the Demo account for free upon registration.
With the Forex Demo Account you can perform the same operations that you perform with the Real Account, with the difference that with this account you do not put your money into play.
In this way it is possible to trade online without putting anything at risk, you can experiment with trading strategies, understand how to apply them and also experiment with new ones.
Furthermore, the Forex Demo Account can help understand how the main technical analysis indicators work, and how trade actions are applied, such as take profit and stop loss functions.
How to register for the IQ Option and how to access the platform.
Here’s how the process should look like when trying out IQ Option for the first time:
- First Register on the IQ Option platform for Free;
- Login with the username and password you provided when registering.
- Verify your account;
- Test the Demo platform with fake money but in a real Market environment;
- Switch to a real account with the first deposit.
Now let’s look at these steps in more detail;
Register with IQ Option
Registration with this broker has no costs, you only need to fill in an IQ Option registration form with a valid e-mail and a password. Make the password as strong as possible but if you don’t remember it, don’t worry. You will be able to recover it through the platform’s ‘forgot password’ option.
Registration ends with the possibility of a free trial of the platform, if it is not to your liking you can unsubscribe, no cost will be charged.
Login to Your Account
Now you must enter the email and password used in the registration phase.
Verify Your Account
Account verification is an important step. Even though it can be left out in the initial phase, remember that verification is needed at a later stage, when you decide to proceed with the withdrawal of your funds, that is, when you ask IQ Option to send the money from your Trading Account to your personal bank account.
Verification is mandatory for any serious and licensed broker as it ensures the safety of its users and is intended as a measure to avoid the possibility of money laundering by criminals. So, rather then seeing this is a waste of time, respect the process and consider it as a safety precaution that will give you peace of mind that your funds are in good hands.
Now, the verification of data process can take up to a week, and therefore we recommend that you verify your account as soon as possible upon registration by sending a valid identity document.
This way when you make your first profits and want to withdraw them you will not have to wait a week until the verification is done as you would have already completed this process.
Test the Demo Platform
This will allow you to trade on the platform with fake money but in a real market environment. The fake money will be provided on your IQ Option Trading account once you register for the Demo mode.
The Demo account is a good opportunity to;
- Test the trading platform;
- Test your trading skills;
- Test new strategies.
All in a risk-free environment as you will trade in a real Market conditions but with virtual money.
Remember that any money you lose on the Demo account is not real and therefore you will not be losing your own money. Also remember, however that any profits you make on the Demo account are also not real and therefore you cannot withdraw profits you make on Demo account with fake money.
Having said this, if you find yourself making regular profits on the Demo account, then maybe now it’s time to switch to the real thing.
Switch from the Demo Account to the Real Money Account
You can do this at any time. All you need to switch to the real account, is to click on “Real Account”.
Now you will have to deposit some funds into your trading account using one of the many options available, including direct bank transfer or credit card.
Once the funds are in your trading account you can immediately start trading. Please note that with credit cards the deposit is credited to your trading account immediately while, on the other hand a bank transfer can take a few days to be processed.
Now any profits you make are real and you will be able to withdraw them into your bank account at any point.
Be careful with your trading strategy in the beginning since you are now using your own funds and not fake money. So any mistakes will result in loss of capital. We therefore suggest that even though you might have gotten a lot of experience using the Demo account, you should still take it slowly and be prudent when switching to a Real Money account, at least in the first few weeks.
Top Benefits of IQ Option Broker Platform
- Probably the top advantage of this platform is its Cryptocurrency trading platform that offers a wide variety of currencies to trade on;
- IQ Option offers the possibility of opening a Demo Account without the need to deposit any real money;
- IQ Option is one of the Brokers that has the lowest minimum deposit requirements to start trading with real money;
- The platform has a section dedicated to the training of Traders where it provides Traders with learning tools such as, video courses.
- It is a regulated, licensed and certified platform.
- Various Deposit and withdrawal methods are available, some of which are very practical and fast.
- You can use the IQ Option trading platform either from a PC, or by downloading the application you can also do it from your tablet and mobile phone. The app. Works both with both Android and iOS systems (Apple).
- Customer support is very efficient and reliable. You can contact their support team both by phone, chat or email.
All in all, the reason many have chosen to register and trade on IQ Option is because it is a practical, fast and very simple to use platform.