Introduction
IQ Option is a financial services firm situated in Cyprus that is managed and controlled by IQ Options Europe Ltd. The trading platform is registered as a Cypriot Investment Firm (CIF) and is regulated by the Cyprus Securities Exchange Commission (CySEC). They've been providing internet trading services for a long time and are continuing to extend their offerings.
Under the CIF licence #247/14, it is permitted to provide financial services to clients from the European Economic Area (EEA). The trading platform went live in 2013 and has grown in leaps and bounds since then. IQOption has genuinely made online trading accessible to everyone with their cheap minimum deposit requirement of $7 and free demo account for practice with $10,000
During 2020, IQ Option also introduced margin trading. This moves them alongside the more established brokers and CFD operators in the EU and beyond.
Trading Platforms
Rather of using a standard trading platform, IQ Option offers its clients a proprietary platform that is tailored to their individual trading requirements.
CFDs and binary options are both traded on the same platform. The platform is well-designed to be user-friendly, and it includes a huge chart that is quite useful for traders who want to keep an eye on market circumstances. With certain instruments, margin trading is now possible.
Furthermore, the platform has a large range of trading tools not generally seen on any binary-capable trading platform. Popular technical indicators such as moving averages, Bollinger Bands, MACD, and RSI are examples of advanced trading tools.
To give traders additional choice, the company frequently adds new features to the platform. The 'position top-up' is one such feature. If a deal is approaching a stop loss, this permits a trader to keep it open. It allows the trader additional flexibility in terms of allowing deals to recover before closing them. It requires discipline to use, but it provides traders with new risk management and trading plan alternatives.
Mobile Trading
Traders who are unable to stay at their trading terminal for an extended period of time can download the IQ Option mobile trading app, which is available for free. Traders may check their account status, stay up to current on market movements, and execute trades using the mobile trading software, which was created exclusively for smartphones and mobile devices.
Trading Accounts Offered
IQ Option, unlike most CFD and binary brokers, only offers three types of trading accounts: a basic trading account, a VIP account, and a demo account.
A $10 minimum deposit is required to open a basic account. For the VIP trading account, a minimum deposit of $1900 (or currency equivalent) is required, as well as a trading volume of $15000.
Traders with either type of trading account are eligible to compete in IQ Option's weekly trading competitions. The VIP account, on the other hand, will provide the account user with additional trading perks such as free participation in trading promotions, 3% higher returns, and personal manager support.
Potential traders can sign up for a demo account first to get a feel for the platform. It is offered free of charge and does not require any "pre-deposits," as some brokers do. The demo account comes with $1000 in practise money that you may use to make practise transactions.
Bonuses and Promotions
IQ Option no longer offers any deposit bonuses in accordance with CySEC laws. The trading competition, which traders can enter for a fee, is the only type of promotional offer that IQOption traders can take advantage of. The competition's prizes vary from $100 to about $100,000.
Video Demo – Forex Introduction:
Assets At IQ Option
Traders at IQ Option can currently trade in over 90 different types of underlying assets. A variety of currency pairs, market indices, equities, and commodities are included. IQ Option has recently added a range of 12 different types of cryptocurrencies to its cryptocurrency trading platform.
The number of markets on which you can trade is constantly increasing. The firm has increased the number of equities and shares on their list, bringing the total to over 150. This expansion is expected to continue in all regions. IQ also spread markets across all products, so Oil, Gold, and Silver were included to the asset lists of Digital trades.
Each product's minimum trade size varies. Binaries and digital options can be opened for $1, however a Forex CFD must be opened with a minimum trade amount of $20, and FX Options must be opened with a minimum trade size of $30. (Or Euro or GBP equivalent)
FX Options
They offer fixed risk investments and are available in EU regulated marketplaces. Each FX option has a specified expiry date, and the potential payoff is determined by the underlying asset price. So, if a trader senses a large price rise is coming, compensation can be as high as 2000% and more
Payouts tend to increase as the expiration date approaches since these options are affected by the same delta and gamma values as standard options. They can be sold at any moment until expiration. So, if a trader holds both a call and a put, both can be sold before expiration to lock in profits or decrease losses.
These are an excellent approach for EU traders to continue to participate in fixed-risk trades.
As the product becomes more popular, IQ will almost certainly expand the number of markets and expiration dates (currently only 1 hour expiries are available)
Cryptocurrency Multiples
Cryptocurrency Multiples is another new product offered by IQ. Price changes in the underlying assets are exacerbated since these function like a leveraged transaction. With Bitcoin x2, IQ Option was the first to develop this concept. This increased price movements by a factor of two, giving traders more opportunity – but also more danger.
Because the product was so successful, IQ has expanded the concept to include Ethereum, IOTA, Ripple, and other cryptocurrencies. On all accessible coins, the multiplication factor is x2.
Trading Costs And Fees
IQ Option is open and honest about its fees and prices. To figure out how much trading at IQ will cost, examine the following factors:
Spreads are the price differences between the purchase and sell sides of a trade. This is frequently changing and is influenced by volatility, liquidity, and even time of day.
Swap Fees - These are fees charged for overnight positions. Charges range from 0.1 percent to 0.5 percent, with weekend positions attracting higher rates.
Inactive Account Fees - If an account has been inactive for 90 days, IQ will begin charging a monthly fee of €10 (or currency equivalent) presuming the account balance is more than zero.
Withdrawal Fees - While the majority of payment service providers do not charge fees, bank transfers do incur a $31 fee (or currency equivalent).
Commission - A 2.9 percent commission will be levied on certain cryptocurrency trades. This fee is not applicable to any other asset.
Customer
Support
IQOption's customer service is one of their strongest assets. IQOption's support services are available 24 hours a day, seven days a week to guarantee that traders may get the help they need whenever they need it. They can reach out to the customer service team via email, live chat, or phone. IQOption has translated its website into a dozen additional languages for the advantage of traders whose first language is not English.
Deposit
& Withdrawal
The broker supports numerous types of fund transfer for funding trading accounts at IQOption. Credit card transfers, ewallets, and bank wire transfers are among the options. VISA, Mastercard, and Maestro are all accepted credit cards. Popular eWallets such as Neteller, Skrill, Perfect Money, and Webmoney are among the eWallet alternatives.
Traders can withdraw monies using the same ways they used to deposit money in the first place. Withdrawal requests are normally processed within one business day, however they can be processed in as little as a few hours if the withdrawal option is eWallets. The entire withdrawal process for credit cards and bank wire transfers can take up to 10 business days to complete.
IQ Option has expanded its presence in Asia as a result of the region's growth. As a result, a wide range of banks in this area now offer bank transfers:
Thailand – Bangkok
Bank, Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, Bank of Ayudhya,
Government Savings Bank, TMB Bank.
Indonesia – Central Asia,Negara Indonesia, Rakyat Indonesia, CIMB
Niaga,Mandiri.
Vietnam – Vietcombank, Asia Commercial Bank, Bank for Investment
and Development, Techcombank, Vietin Bank, Sacombank, Donga Bank, Eximbank.
Malaysia – Maybank, Hong Leong Bank, RHB Bank, Public Bank,
CIMB Bank, AmBank
Philippines – Help2Pay – Supports both BDO (BDO Unibank) and MTB
(Metrobank)
South American options are also being
expanded:
Brazil – Jeton
Wallet (Supporting Boleto Bancario), and AstroPay (Boleto, Itau, Bradesco,
Banco do Brasil, Caixa, Santander)
Argentina – AstroPay (Supported banks; Pago Facil, Santander, Banco
Galicia)
Perfect Money can also be used in Colombia and other parts of South America. Perfect Money is also a viable option in Nigeria and Pakistan, as well as several parts of Europe.
Jeton will now serve IQ Option traders from India, as well as a number of banks that cater to South African traders.
Traders in mainland China, Hong Kong, Taiwan, and Macao can use China Union Pay to make deposits and withdrawals.
Is IQOption
a good option for day trading?
When looking for a broker to conduct day trading with, one of the most crucial elements to examine is the types of instruments accessible for trading. IQ Option is a good broker for day trading since it offers CFDs, which allow traders to open and close their market positions at any time. Furthermore, the broker is well-regulated, ensuring that your funds are managed properly and ethically.
Traders of Countries Accepted By IQ Option
IQ Option accepts traders from
Thailand, South Africa, Singapore, Hong Kong, India, France, Norway, Sweden,
Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most
other countries.
Traders can not use IQ Option from
United States, Japan, Israel, Turkey, Belgium, Russian Federation, Australia,
Canada, Germany, Italy, Netherlands, Romania, Spain, Portugal, United Kingdom,
Ireland, Czech Republic, Switzerland
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