All You Need to Know About the IQ Option Trading Platform
***This material is not intended for readers from EEA (European Economic Area) countries. Binary options are not promoted or sold to retail EEA traders. Traders from all other countries/regions are welcome.
Picking a broker to invest your funds with is a tough task, as there are many factors to consider. And with dozens of companies offering their services, it may be tricky to make the right choice from the get-go. Gathering the available information about a broker, its platform, and trading conditions may be a smart way to go about it. To help you get started, here is an overview of the main features of IQ Option trading that may answer your questions and provide the information you need to make an informed decision.
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What is IQ Option?
IQ Option is an international broker with a cutting-edge trading platform that offers its services to millions of traders all over the world. Founded in 2013, the company has rapidly become one of the leading global trading services and gained recognition from reputable international venues.
Currently, the IQ community has over 48 million users, so the broker is tuned to meet the needs of traders with different preferences. IQ’s services are available in 17 languages, allowing traders to operate the platform and contact the support team in their preferred language.
There are over 280 assets for trading to choose from, including Binary Options, Digital Options, Stocks, Forex, Cryptocurrencies, ETFs, and Commodities. The IQ Option traderoom covers the most popular assets and features a variety of technical analysis tools you will need in the process.
What is IQ Option Trading All About?
What makes IQ Option stand out is its modern trading platform that can be customized to fit each trader’s preference. Let us take a look at the main features to see why it is worth trying out.
Adjustable Traderoom Layout
IQ Option designed its own trading platform to fit the needs of investors with different levels of knowledge and experience. The traderoom layout has all the necessary features for effective trading, yet you do not feel overwhelmed by an excess of available tools. In addition, there is room for user creativity: you can customize the platform by setting your own keyboard shortcuts and menu items, choosing the traderoom theme, and applying personal notification alerts for your trades!
There is also an option of applying the multi-chart layout, which helps analyze several assets at once. The platform can maintain up to 9 charts at a time, which comes in handy for traders who monitor multiple assets to catch trading opportunities. You may view the chart grids by clicking on the Chart Layout icon in the upper-left corner of the traderoom.
Affordable Trading
IQ Option trading is available to investors from all walks of life, both seasoned traders with large funds and those who are just beginning to explore the world of trading. The minimum deposit is $10 (or the equivalent in your account currency). The minimum trade amount is only $1, which means that even a small investment can be a good place to start.
Once you have gained some experience and settled on your trading approach, you can make a deposit to start trading with real funds. The deposit amount will be credited to your real balance in the traderoom. When the time comes to withdraw your funds, you will be able to choose one of the withdrawal methods offered on the platform.
Quick Deposits and Withdrawals
There are different deposit options available depending on your location, from Visa/Mastercard to various e-wallets, such as NETELLER, Skrill, WebMoney, and more. IQ Option aims to provide convenient payment options to all international clients, so it keeps adding new ones to the list. What is great is that deposits can be made in any currency — the money will be converted to the account currency automatically. The broker usually executes deposit and withdrawal requests instantly. However, the final cost and speed of your transaction depend on the payment method.
- Keep in mind that If you deposited with a credit/debit card, you have to use the same card to make a withdrawal. This is because withdrawals are processed as refunds, which means that the money can only be sent to the payment account used to make the initial investment.
For example, imagine you made a $100 deposit with your Visa card. After several trades, you made some profit and the amount on your real account now equals to $150. To withdraw all the funds, you would need to request a withdrawal to your Visa card in the amount of your initial investment amount – $100. For the remaining $50 above your initial investment (i.e. your profit), you may use any other suggested withdrawal options, such as e-wallets.
Even though anyone can create an IQ Option account, make a deposit and start trading, there are certain requirements when it comes to withdrawals. To request the first withdrawal, you will be asked to verify your account. The authentication process includes the following steps:
- ID Verification – a photo of your passport or a valid ID
- Payment Method Verification – usually a photo or a scan of your bank card
- Address Verification – an official document confirming your place of residence may also be required
To successfully withdraw money from IQ Option, you should always provide accurate personal and contact information. The company has strict guidelines when it comes to verification in order to avoid scammers and ensure the safety of your capital.
Free Unlimited Demo Account
Every trader is entitled to a free $10,000 practice account that can be topped up an unlimited number of times. There is no expiration date for this demo account – you can use it as long as you want and enjoy access to all the services on the platform.
Here are a few ideas of how you may benefit from the IQ Option practice account:
- Explore the platform and test-drive the main features;
- Try out different trading strategies and pick the ones that work for you;
- Get some practice trading on the real market with virtual funds, risk-free.
VIP Account for Advanced Users
Aside from the standard account, which includes the demo version described above, there is also a more advanced version — the VIP Account. It offers special conditions to clients who trade on a professional scale. To get the VIP account, you would have to deposit a certain amount (the exact amount is subject to change) and be an active trader. Here are the main features included in the VIP account:
- High-priority service with a personal manager;
- Higher profitability rates on options;
- Free participation in trading tournaments (regular users are sometimes required to pay entry fees);
- Public VIP chat rooms;
- Exclusive educational materials, etc.
Trading Platform Availability
The IQ Option trading platform can be accessed on a number of different devices. Traders who prefer using their browser and always have stable Internet connection may opt for the web version. The desktop app for Windows and MacOs may be more convenient for quick access, while the IQ Option mobile apps for Android and iOS come in useful when you feel like checking your trades on the go.
To ensure correct operation of the platform and smooth deal execution, you should check the compatibility of your devices beforehand. Each version of the IQ Option trading platform is constantly updated to improve users’ experience.
Large Selection of Assets for Trading
What many traders appreciate the most is quick and easy access to global markets. With IQ Option, you have an opportunity to choose from 280+ different assets on the same platform, including Binary Options, Digital Options and CFDs on Forex, Stocks, Crypto, ETFs, Commodities, and Indices. Some of them are only open for trading during the workweek, others can also be accessed even during the weekend. Check the table below for a full breakdown of available assets.
Forex | Over 30 currency pairs - from majors pairs to exotic pairs |
Binary Options (up to 95% profit) | 30+ options on major currencies and stocks |
Digital Options (up to 900% profit) | An alternative options type with increased profit potential |
Stocks | Stocks of almost 200 companies - Big tech, energy, consumer staples, etc. |
Commodities | Oil, gold |
Cryptocurrencies | 19 popular cryptocurrencies and coins including Bitcoin (BTC), Ethereum (ETH), Litecoin (LTC), Ripple (XRP), Dash, etc. |
ETFs | 23 exchange-traded funds |
Binary and Digital Options
Binary options are among the most popular instruments for short-term investors, as they involve short timeframes and are focused on quick results. To trade binary options, you should make a prediction about the direction of an asset’s price movement — UP or DOWN. The timeframes usually vary from 1 minute to 1 month, while the initial investment can be as little as $1.
The potential profit of each selected asset is estimated beforehand. When you enter the preferred investment into the Amount section on the upper-right side of the traderoom, you’ll be able to see the potential profit amount before opening a position (trade). As an example, in the image below, the potential profit is 88%.
If you manage to close the trade in profit, you’ll receive this fixed amount — up to 95% of your initial investment (and sometimes even higher than that!) The maximum amount of loss is also fixed, so in case the deal doesn’t go your way, you’ll only lose the initial invested amount.
With Digital Options, you can make predictions not only on the direction of the price, but also on how much the price will change over the selected time period. To trade digital options, you’re supposed to choose a strike price – a price level that the closing price must exceed for the position to close in the money (your correct choice). The farther the strike price from the current price level, the higher the profit (it can go as high as 900%!). However, the same can be said about the risk of losing the investment – it also grows with the distance between the current price level and the potential strike price.
CFDs (Contract for Difference)
CFD trading allows you to make deals with a variety of assets without actually buying them.
Similarly to binary options, you are supposed to make a prediction about the potential price change. If you think the price will go up, then you may open a long (“Buy”) position. If, however, you predict a price drop, you might choose to open a short (“Sell”) position. When a prediction is correct, you make a profit. In case of a wrong prediction, you may close a position at a loss.
- When trading CFDs, it is important to pay close attention to the margin levels, as it involves trading with higher amounts borrowed from the broker and secured by a pre-set amount. This offers an opportunity to achieve higher profits, but in case of an unsuccessful result, it may increase the loss amount as well.
With IQ Option, you can trade Commodities, Crypto, Stocks and ETFs as CFDs, which requires much smaller investments than if you were to actually purchase these assets. This is convenient if you are looking to diversify your portfolio, which many traders consider an important part of a successful trading strategy.
Wide Range of Tools for Analysis
There are more than 200 technical analysis instruments and technical indicators that IQ Option traders can apply for accurate asset analysis. Among them are graphical tools, such as trend lines, and over 100 technical indicators. Moreover, there is an option to save the most effective multi-indicator presets to apply them in the future. Trader’s sentiment and trade volume widgets may also provide useful insights and point to market trends.
Free Education
The IQ Option in-house team prepares a variety of educational materials for traders with different levels of knowledge and experience. All traders have access to free webinars with renowned experts, video tutorials on various tools and strategies, a trading blog, weekly newsletters with market updates, and much more.
If you don’t feel like leaving the traderoom to look for educational opportunities, you can benefit from the video guides embedded into the platform in the language of your choice!
Real-Time Market Analysis
Many traders have a habit of monitoring market news to look for trading opportunities. On IQ Option, you can stay on top of the new trends in real-time to make sure you never miss important events. Here, the news feed is conveniently integrated into the platform, so you can keep up with the latest news by checking the economic and earnings calendars in the Market Analysis tab on the left side of the traderoom panel.
Trading Tournaments
IQ Option likes to keep it interesting and engage users in exciting trading tournaments. By participating in these contests, you can boost your trading performance, have fun, and win a monetary prize. The average prize fund is $3,000-5,000, but some go as high as $200,000. It is usually distributed among around 10-30 winners, so the odds are actually pretty good!
Some tournaments are free, others have a small fee – usually around $2-20. You can check out the ongoing tournaments in the Tournaments section of the website or in the Tournaments section of the traderoom.
Risk Management Tools
Considering that good money management may be key to achieving successful trading outcomes, IQ Option provides tools that can help you take control of your results. The Take-Profit and Stop-Loss features allow you to set specific limits for potential loss or gain and protect your trades from unexpected price changes. By setting up these tools, you can reduce some risks and maximize your profits to get a step closer to achieving your financial goals.
Multilingual Support 24/7
IQ Option has a big multilingual team of specialists to support traders on their journey, answer questions, and provide assistance to solve potential issues. Customer support works 24/7, and you can speak to them in your native language.
The easiest way to contact the support team is by using the chat in the traderoom (average response time is <40 seconds). But support staff members can also be reached via email or a phone call. Toll-free numbers are available for many countries.
Things to Consider
Well, it all looks good so far, so are there any disadvantages of using the IQ Option trading services? Some users may find that its custom-made trading platform lacks some features of the ready-made solutions like MT4 and MT5. However, the main focus of IQ Option platform is accessibility, allowing traders with different levels of expertise to easily get the hang of it and start getting results. So it’s up to you to figure out your priorities and decide for yourself.
Another thing some users may notice is that there are only two types of account available: Demo and Teal. A number of brokers offer several account types with different services and trading conditions, so this may be a downside if you prefer more variety.
There are also no deposit bonuses, unfortunately.
- Finally, you should always remember that trading in the global market inevitably comes with risks. It is strongly recommended to obtain solid knowledge of the trading basics before you invest real money. Make sure you don’t put more money at risk than you can afford. Be sure to practice on the demo account to strengthen your skills first.
Bottom Line
So, is IQ Option worth it? Well, based on the above information, the answer is YES. IQ Option is an industry-leading platform for investment enthusiasts from all over the world. Its custom-made adjustable traderoom, a wide choice of assets for trading, education resources, and real-time market analysis software provide all the necessary tools for an excellent trading experience. The platform is available in web, desktop, and mobile versions, offering traders additional flexibility to fit their lifestyle. Even though it might lack some features of platforms like MT4 and MT5, many traders will find that its low barrier to entry of just the minuscule $10 minimum deposit is worth it already. And not to mention the variety of payment methods available at IQ Option that you cannot find on MT4 and MT5 platforms.
To put it simply – Yes, IQ Option is a safe, trustworthy, and overall excellent trading platform!