IQ Option is a binary option broker founded in 2013. It was registered on the Seychelles Islands. In spite of its young age and offshore registration, the company has already gained a reputation of a reliable and very promising binary broker. Currently it has over 200 000 registered clients.
Such a rapid growth and high popularity of IQ Option are attributed to its active introduction of innovative trading and financial technologies as well as close cooperation with the world’s major liquidity providers. The latter include large international banks and insurance companies.
The broker’s activity is highly praised by international financial institutions. In 2014 the company was awarded Most Innovative Binary Option Broker during ShowFX World international conference. It was also recognized Most Reliable Binary Option Broker the same year.
The company customers can trade a broad range of trading instruments, including:
- Currency pairs;
- Stock indices;
- Stocks of large companies;
The broker features, which set it apart from its competitors, are low minimum deposits ($10 USD) and the loss compensation program enabling a customer to get back up to 40% of the amount of a loss-making deal.
Deposits and Withdrawals
IQ Option customers can deposit and withdraw funds in one of the following ways:
- Bank transfer;
- MasterCard, Visa credit cards;
- Liqpay, PayPal, Yandex Money, Webmoney, QIWI, Skrill E-Wallets.
Payment with the use of banking instruments is effected within 3 banking days. E-Wallet online payments take one banking day.
Reliability and Certification
Financial activity of the company is regulated by the following bodies;
- The Russian Financial Market Relations Regulation Center (FMRRC).
Bonuses and Promotions
IQ Option customers receive a bonus for each deposit of no less than $10 USD. The size of the bonus depends on the size of the deposit and may be from 100% to 200%.
The bonus should be used in trading and can be withdrawn from the trading account only after the requirements as to the number and volume of transactions are met.
After registering a live trading account and crediting it with no less than $10 USD the company customers can participate in weekly turbo options tournaments. Choosing any underlying asset, a trader can contend for the main prize. The tournament lasts for 30 minutes. A trader with a major increase in its deposit over the period of the contest wins the money prize. Participants ranking from 2 to 10 get various recognition gifts.
You can learn more about the bonus terms and conditions on IQ Option official website.
Trading Accounts and Options Types
IQ Option is offering two types of live accounts to its customers:
- Minimum deposit – $10 USD.
- Trading tools – 60.
- Bonuses up to 80% on each deposit.
- Minimum deposit – $1 000 USD.
- Trading tools – 70.
- Bonuses up to 100% on each deposit.
- Personal manager.
Free monthly analytical report on customer operations from IQ Option analysts.
Both types of accounts can be opened in US Dollar and Russian Rouble.
Beginner traders can open demo accounts for trading without real money using 13 trading tools.
There are two options types offered by the broker:
- Standard CALL/PUT option;
- Turbo option.
The only difference of turbo option is a period of expiration, which is 60 seconds.
Trading Platforms Types
IQ Option is the first Russian binary option broker that offered its own state-of-the-art and convenient trading platform developed by the team of leading traders, analysts and IT specialists. Convenient well-designed interface will be easy to use for both professional traders and binary options beginners. Standard options and turbo options for the entire range of trading tools (indices, currency pairs, stocks) are available on the platform. The list of instruments of IQ Option platform also includes Bitcoin Index allowing to trade not only during trading sessions but also at any other time, even on weekends.
IQ Option customer service is available only in working hours.
To get in touch with a support representative customers can use:
- Live chat;
VIP account owners can use personal manager services.
Training and skill improvement programs are worth special notice. Developed by the company specialists, these programs allow to learn all ins and outs of binary options trading within a short time. Educational programs include different audio and video tutorials.
The company also offers regular webinars on different subjects conducted by its employees and guest experts. Subjects and timing are published on the company website.
Pros of Trading with IQ Option
IQ Option has the following distinguishing features:
- Simple and convenient platform;
- Russian Rouble as a base deposit currency;
- Low minimum deposit;
- Minimum rate is $1 USD or 30 RUB;
- The use of Bitcoin Index allows to trade on weekends and holidays;
- Six-digit quotes;
- High returns offered;
- Unique educational programs.
Disadvantages are as follows:
- Relatively small choice of trading tools;
- No early termination option;
- No indicators on the price graph.
IQ Option Reviews
Ruslan Kanev: Excellent broker. The range of trading tools and options types is well-planned. Nothing extra – only the most required assets. Funds are withdrawn accurately and in time. What more could we ask for? I recommend the broker.
Boris Derov: I have a mixed impression. I seems like the founders “painted a picture” with very “bold strokes” paying little attention to details and shades. For example, the trading platform is a masterpiece, it is perfectly optimized, but when you start working you see that you cannot put any indicators on the price graph. There are more other examples. I hope it’s just an “infantile disease” and the company will get over it.
Karl: Working with IQ Option I had a feeling of some “incompleteness”. Everything that was introduced is working excellently but there are essential points missed. The broker offers a tailored range of trading tools but it is so well-thought that smells of primitiveness. The company is declaring expansion policy but the procedure of address and passport verification is too complicated (took a month and a half).
Trying to describe IQ Option in short, one can say that it is a great “trainer” for beginner traders.
But a rapid growth of the customer base and regular presentations of new products make it clear this is not a “final version” of IQ Option. Hopefully the company will turn from the promising broker into the market leader in the near future.