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IQ Option Review – Is IQ Option Legit? Honest Opinion

TradingThug by TradingThug
August 24, 2022
in Review
Reading Time: 6 mins read
55

Table of Contents

  • A few words about IQ Option
  • Trading Platform of the IQ Option broker
    • Bonuses
  • Deposit and withdrawals at IQ Option
    • Registration & Verification
  • IQ Option’s Support
  • Summary on IQ Option

A few words about IQ Option

It is a binary options broker that was founded in 2013. It is one of the most experienced platforms on the market, offering access to binary options, forex, cryptocurrencies, commodities, ETFs and stocks. IQ Option is recognized as one of the most innovative brokers on the market. The broker offers an incredibly modern platform, lots of indicators and guides for beginner traders. Thanks to this, no one has to worry about whether the funds are safe. IQ Option offers dozens of deposit and withdrawal methods – depending on the country you live in, these methods will differ. Account verification is required to be able to open positions in a real account. If you live outside the European Union, the broker has a wider offer for you without additional formalities.

Open Free Demo Account

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK.

Trading Platform of the IQ Option broker

IQ Option Trading Platform

This is one of the strongest features of this broker. IQ Option has a desktop, browser and mobile version of its platform. As you can see in the attached pictures, everything looks clear and is made in a modern, minimalist style. On the left side you will find buttons with tabs that allow you to view our portfolio, transaction history, leader board and market analyzes prepared by IQ Option experts. It is definitely a useful tool for many traders. You can also view the economic calendar from here and prepare for the announcement of the results. On the right side we have a transaction panel with the option to set the position size, expiry time, set the take profit and stop loss levels. Of course, it is also possible to choose the direction of play. The minimum investment amount is $1.

At the top, we can click on the “plus” button, which allows us to add other assets to the chart. All assets are divided into categories. If “binary options” and “digital options” are not in one of the categories, it means that the broker does not offer these instruments in your country. I would like to remind you that binary options are offered only in countries outside the European Union.

In the lower left corner of the screen you will find buttons that allow you to add indicators and pictures to the chart. It is also possible to change the type of charts and change the interval on which you operate. As I mentioned in the introduction – the platform is very modern and offers everything a trader could want.

Bonuses

A few years ago, IQ Option offered attractive bonuses. Unfortunately, the bonuses have disappeared from the platform and it is not possible to receive additional funds for trading. I think this is a good move because the bonuses are that the broker lends money to the client and in return the client has to make a large enough turn to withdraw the funds. Many people did not read the regulations and it was not possible to cancel the bonus.

Deposit and withdrawals at IQ Option

IQ Option deposit withdrawals

IQ Option offers a plethora of deposit and withdrawal methods. It’s hard to count it all because the broker prepares its offer for specific countries. Therefore, what is available from me may not be available from you. The process of depositing funds is very simple – just click on the green “deposit” button in the upper right corner of the screen and choose the deposit method. During the first deposit, you choose the currency in which your account should be. This selection is US dollar, euro and pound. Unfortunately, you cannot change the currency later, so make sure you choose the options that are best for you. After making the deposit, the funds will appear in your account immediately. In the case of bank transfers, it may take up to several days, so I suggest using a card or online wallets such as Skrill or Neteller. It is worth noting that the minimum deposit is $10.

The payout is also very simple. Just select the amount and confirm the transaction. Depending on the withdrawal method, the transfer takes up to several working days. Please note that if you made a deposit with the card, you can only withdraw to the card up to the amount you have deposited. For example, you deposited $ 100 and you can withdraw up to $100. You need to send all of the excess to a selected online wallet such as Skrill, Neteller or PayPal. This is because of its anti-money laundering protection.

Registration & Verification

Account verification consists in confirming your identity and home address. To verify the account, all you need to do is send the broker a photo of your ID card / passport / driving license in the appropriate form and confirm your place of residence by sending an electricity bill / bank statement. Verification may take up to 7 business days, but most often it takes several hours.

Open Free Demo Account

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK.

IQ Option’s Support

IQ Option suport languages

The broker has support in 8 languages. If you have any questions, you can write to the consultant directly in the chat and you will get an answer in a few minutes. I did a test and asked some technical questions about the platform and got a satisfactory answer. Remember that consultants do not give investment advice and do not ask them about how you should invest. The broker cannot provide such information as it is only an intermediary and not an investment advisor.

Summary on IQ Option

In my opinion, IQ Option is one of the best brokers you can deal with. The broker offers a great platform and many deposit and withdrawal methods. I especially recommend the broker to people who live outside the European Union because then you will get access to all the possibilities of the platform. On my website you will of course find suitable alternatives. A minimum deposit of $10 and a minimum transaction amount of $1 make the broker one of the most accessible for beginners. I can recommend this broker with a clear conscience and if you want to open an account, you can do it from the button below.

Open Free Demo Account

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK.

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose

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About

Investments in OTC market instruments, including contracts for difference (CFDs), due to the use of the financial leverage mechanism, are associated with the possibility of incurring losses even with a slight change in the price of the underlying instrument on the basis of which the price quotation of a given instrument is based. It is not possible to make a profit on transactions on OTC instruments, including contracts for exchange rate differences (CFDs) without exposing yourself to the risk of loss. When making investment decisions, the client should use his own judgment.

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