Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

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IQ Option binary options broker was founded in 2013, and during this time has already become one of the most famous brokers in Europe and its native CIS. The first thing I would like to note is the company’s focus on beginners. “Faster and easier than Forex !” – stated on the company’s website, and it’s hard to argue with that. Everything is so simplified that it looks more like a game than real trading. This was the main factor behind the growing popularity of the IQ Option broker among novice traders.

 

We will still try to figure out what the IQ Option binary options broker really is .

Trading conditions

Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

What pleases me is that a demo account is opened in a couple of clicks – absolutely free and without any hidden fees. However, from time to time you will be urged to switch to a live trading account. You should be especially careful here, since trading conditions on a demo and a real one can differ significantly, and if your trading strategy makes a profit on virtual money, it will not always work as well on a real account.

Judging by the reviews on the forums, the broker can arbitrarily change the percentage of payments on options in relation to individual (especially profitable) clients. In fact, this is quite normal practice for a market maker. I hope everyone understands that the so-called binary options have nothing to do with real exchange assets, and all binary options brokers advertised on the Internet are just reinvented kitchens, working with which requires a particularly delicate approach.

The cost of real contracts starts at $ 1. This is not the lowest price on the market – some brokers already offer the opportunity to trade contracts from 1 cent, but it is still competitive. There are two types of contracts available for trading: binary and turbo. The first allows you to change the expiration time in steps of 5 minutes, the second – in steps of 15 minutes. The payout percentage for an option can vary depending on time, type of contract and trading instrument (up to 85% at times). Currency pairs, commodities, stock indices and stocks are available for trading.

Interestingly, trading some OTC (Over The Counter) contracts is available even on weekends when the real exchange is closed. At the same time, the price moves in a certain horizontal channel, and OTC quotes, according to the company, are taken from interbank transactions, from well-known quotes providers such as Thomson Reuters  and the like.

In fact, no official providers provide weekend quotes. On the weekend, you trade with none other than a smart quote generator that either alters past data beyond recognition, or simply creates new ones. So the company is not lying when it claims that these quotes are not displayed on platforms other than IQ Option – indeed, you will not see them anywhere else.

 

Licenses and regulation

Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

IQ Option is a subsidiary of IQ Option Europe Ltd. At the same time, all rights to the domain and the trading platform belong to Alta Vista Trading Limited, registered in the Seychelles.

The firm is licensed by CySEC number 247/14 issued by the Cyprus Securities and Barges Commission. The licensing date is July 30, 2014. The main task of CySEC is to protect clients from the broker’s dishonest work. In the event that the broker’s support service cannot resolve your issue or simply does not respond to messages, you can always file a complaint with the regulator, which will act as an arbitration between you and the brokerage company. Also, all companies holding this license are required to participate in the ICF compensation fund. That is, in the event of a broker’s bankruptcy, the fund will compensate clients for the amount of lost investment, if it does not exceed 20,000 euros.

Also, the company has a certificate from the Center for Regulation of Relations in Financial Markets. But, since this is a non-governmental organization, it cannot somehow influence the work of the company, but it can help in satisfying some minor complaints.

Trading platform

Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

The trading platform is presented by clients on PC, Mac, Android, iOS, as well as an online client for an Internet browser. All clients have a unified interface and are synchronized with each other. This means that by trading on your home computer or through a browser window, you can continue trading on any other supported device without any problems.

 

 

According to the company, the platform was developed by a team of specialists based on feedback from the traders themselves, so it should be suitable for both beginners and professionals. All the necessary functions are literally in one click, and the interface itself is as simplified as possible. Due to the fact that the platform was developed practically from scratch, the developers managed to achieve a sufficiently high speed of order processing. At the moment, it is one of the fastest platforms in the binary options market.

The functionality includes several unique tools. First, you can choose the type of chart display – line, area, bars or candles. Also, traders have access to graphical instruments in the form of trend and horizontal lines, as well as a small list of standard technical indicators : Moving Average , Bollinger Bands, Alligator, RSI , MACD, Parabolic SAR, Stochastic, ATR, ADX and CCI. These tools already allow for minimal technical analysis of the chart, which is not available in most other platforms for binary options. So, despite the simple appearance, in fact, the IQ Option platform is one of the most advanced platforms on the market.

Let’s take a quick look at the mobile platform controls :

  1. Option type selection – Turbo or Binary;
  2. Selection of a trading instrument;
  3. The choice of the expiration time of the contract;
  4. The current alignment of forces for increasing and decreasing;
  5. Main chart window. The horizontal line shows the transaction level, the red vertical line – the option expiration time ;
  6. Selection of the investment amount (from $ 1);
  7. The choice of the direction of the transaction – for an increase or a decrease;
  8. Changing the type of chart display and setting indicators .

Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

When the expiration period expires, a dialog box is displayed with the details of the transaction: the opening and closing prices, the size of the investment, and the size of the profit (or loss).

 

Registration and Login IQ Option

Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

The registration process for new customers is simplified as much as possible. All you need to do is enter your first name, last name, email address and choose a password.

Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

After that, you will receive an email to activate your account. All! This completes the registration.

When registering, no additional documents are required, but they may be required to pass the verification procedure when withdrawing profits from the account.

Deposit and withdrawal of funds

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To start trading, you need to replenish a deposit in the amount of 10 dollars, depending on the account currency. Withdrawal requests are processed within 3 business days. The minimum available withdrawal amount per day is $ 10, the maximum is $ 1,000,000. The amount of the deposit depends on the amount of the deposit.

Customers who make a deposit of $ 3,000 or more are provided with a special VIP status, which includes the services of a personal manager, unlimited access to all instruments, an increased deposit bonus, and regular distribution of trading signals. Some contracts may be temporarily unavailable for trading (except for VIP clients).

Supported payment systems:

  • VISA and MasterCard cards;
  • Yandex money;
  • QIWI;
  • WebMoney;
  • FasaPay;
  • Neteller;
  • Skrill;
  • Traditional bank transfer to company details ($ 50 commission).

Tournaments

Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

The company regularly holds trader contests. The prize fund is formed directly from the contributions of the participants and is distributed among the top 30 of the tournament table. The tournament table is sorted in descending order of the balance on the torus account. After registering for the contest, the amount is automatically debited from your account. required to participate. The winnings are credited in cash to the client’s account. Let’s note the conditions of some competitions:

IQ Wars

  • The initial balance of the contest account is $ 100;
  • Participation fee – $ 4;
  • Purchase cost – $ 4;
  • 75% of the contribution goes to the total prize pool.

Euro Tournament

  • The initial balance of the contest account is $ 100;
  • Participation fee – $ 20;
  • Purchase cost – $ 20;
  • 50% of the contribution goes to the total prize pool.

Monthly Crazy Contest

  • The initial balance of the contest account is $ 1000;
  • Contribution for participation in the competition – $ 40;
  • Additional purchase cost – $ 40;
  • 50% of the contribution goes to the total prize pool.

Wall street

  • The initial balance of the contest account is $ 10,000;
  • Contribution for participation in the competition – $ 50;
  • Purchase cost – $ 50;
  • 60% of the contribution goes to the total prize pool.

Benefits

Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

  • Convenient and simple trading platform;
  • Unified interface;
  • Fast registration;
  • Free demo account.

disadvantages

Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

  • Too limited choice of expiration dates (long-term traders pass by);
  • The inability to trade around the clock for some instruments;
  • No fixed interest on payments (the algorithm for changing it is not transparent);
  • Limited choice of contract types.

 

Is IQ Option another scam?

The company operates without a license, which at first glance may be repulsive. But the company still fulfills its obligations to its customers in full. But the number of open accounts is approaching 50 million. The reliability of the company is confirmed only by its reputation and long operating time.

Frequently asked Questions

💵 How to earn more than 100% from a trade on IQ Option?
The maximum profitability on the broker’s platform is 900% when trading Digital options. The profit depends on the price passed during the open trade. The more the quote changes in the right direction, the more income.
💬 How to contact live chat support?
A technical support chat on the official IQ Option website is available after registration. But free consultants are not always available.
📉 What is the minimum deposit and withdrawal amount?
The minimum deposit amount is $ 10. You can withdraw from $ 2 through your Personal Account, up to $ 2 – after contacting support.
🙋‍♀️ Can I work with the IQ Option binary options broker without verification?
Yes, but not all functions. To withdraw money without any problems, you need to go through the identity verification procedure.
💸 What to do if the demo account runs out of virtual currency?
The account on the platform is restored in two clicks. It is necessary to select “Demo account” in the balance window and click “Replenish”.
📊 What is the maximum expiration on the platform?
For Digital options – 1-15 minutes, for Binary contracts – from a minute to a month.

Conclusion

Is IQ Option a scam? Or a reliable broker? Trader Reviews, comments

Despite all the shortcomings, at the moment, IQ Option is one of the best brokers in the binary options market. In many respects, the company’s success is due to the trading platform, which was originally developed for trading binary options, taking into account the wishes of existing traders.

 

 

In the future, I would like to see more contracts for trading and a wider choice of expiration dates, since this moment can be key for many traders. At the same time, the IQ Option broker is ideal for those who had no prior experience in trading in the financial markets and would like to try themselves as a trader.

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