IQ Option consists of two legal entities: IQ Option Europe Ltd. is registered at Cyprus and is regulated by CySEC, and IQ Option Ltd. which is registered at Seychelles, this entity is not regulated. IQ Option Europe Ltd. provides its services for traders from the following countries: Austria, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, The Netherlands, United Kingdom. A reputed online broker, it provides trading options in currencies, stocks, indices and other financial assets.
IQ Option entered the market formally in 2013 and quickly set a purpose for themselves. They strive to provide their clients with a straightforward, streamlined and enjoyable trading experience. They stand out among other brokers due to the following features:
- They provide clients with an absolutely free demo account to try out their services.
- They have made trading accessible to traders of all sizes, by setting the minimal deposit at $10 per account.
- Deposit options include Credit Cards, Money Wallets, Wire Transfer, WebMoney, Qiwi, Yandex Money, Boleto, Skrill, Multibanco
The Withdrawal Process
Upon using IQ Option, traders will find that the withdrawal process is user-friendly and less complex, with an increased number of options for traders to withdraw their money from. For instance, traders can use payment options such as credit cards, portfolios or any other trading platform. MasterCard and Visa, both of these credit card types are accepted by them. However, they operate according to the directives issued by the European security standards. To ensure the trader’s financial security, limits have been set on the withdrawal amount.
The withdrawal process is simple and does not require any technical expertise thanks to its insightful user interface. The trader has to simply enter the details of the withdrawal amount, i.e. the currency, amount and desired payment medium, to start the process. Within a few days, the request is processed and the amount is credited to your bank account. This is in stark contrast with other online brokers, where processing takes significant time. Additional withdrawal methods include using Money Wallets, WebMoney, Qiwi, Yandex Money etc.
Security is of utmost importance when trading in the online Forex world and a skilled support team should be present at the broker’s end in case of an unfavourable situation. For instance, in the event when the trader is faced with a problem, a responsive customer service team can guide the trader and provide him with a solution.
Fortunately, IQ Option’s support team is skilled, adept and responsive, with a 24/7 online presence. They have their client database at all times, including contact number and broker account information, thus providing a good customer experience.
A demo account feature is provided by almost all of the top online brokers. The main aim is to provide the clients with a little taste of the services they are about to offer. When it comes to IQ option, however, their Demo Account is an extension of their Trading customer service functions. This completely free demo account gives traders the same rights, privileges, and functionality as the regular account holders with an extended time limit allowing the traders to be adept and skilled in this platform. This is different than other online brokers who set up limitations for demo account access and do not allow traders to thoroughly use their platform without becoming a full-time member.
Compared to Forex trading with other brokers, IQ Option has a built-in protection mechanism such that the trader can never lose more than the amount s/he had initially invested. The traders should also take the advantage of Stop Loss (SL) and Take Profit (TP) features when trading Forex with IQ Option.
The profits earned in long positions when trading Forex is calculated by (Closing price / Opening price – 1) x multiplier x investment
In case of short positions, the formula is (1 – closing price / opening price) x multiplier x investment
One of the primary concerns of traders in the online trading world is security. A large number of data breaches and hacking attacks have targeted such online platforms in the past, resulting in heavy financial losses for both the broker as well as the traders operating that platform. Banking and security are important, especially where traders are in pursuit of higher payouts.
IQ Option has left no stone unturned, taking the necessary steps to ensure complete security from cyber attacks or data breaches. A series of security protocols and directives are in place for keeping this risk at a minimum.
- SSL Protocol: Traders can safely withdraw their amounts from their trading accounts because an SSL encryption protocol is in place. SSL encryption is one of the most frequently used security measures in banks and financial institutions for extra security. This ensures that no transaction information can be intercepted by a third party.
- Validation process: IQ option has a comprehensive validation process for each new pickup method. This means that if someone wants to access the trading accounts and transfer the money to a “never-before-used” bank account or credit card, the system gets locked. This is because the system requires the trader to deposit ID proof, proof of residence and credit card details before he or she can successfully withdraw from the trading account. This adds an extra layer of security and notifies the traders of any unauthorized access.
- Withdrawal process: IQ Option has a very simple withdrawal process which also makes them more secure. This is because the system is configured in such a way that the proceedings from a trader’s account either get transferred to the trader’s specific bank account or the same credit card that the trader has opened the account with.
Cryptocurrency is a new, innovative and exciting way of transaction in the world of trading. It is basically a virtual currency unit, an alternative to traditional Fiat currency and as such has no physical form. It exists entirely in digital form and hence is useful in making secure transactions very quickly. Traders are increasingly embracing this new technology, and IQ Option has made the necessary provisions.
IQ Option allows traders to trade in popular cryptocurrencies such as Bitcoin, Ripple, Ethereum, and Litecoin, giving traders the opportunity to diversify their existing portfolio and take advantage of trading opportunities in the different markets. Since the Cryptocurrency market is volatile and unpredictable in nature, IQ Option provide traders with trading charts and other related information resources to help them make better-informed decisions.
Using IQ Option for Cryptocurrency trading has several advantages compared to other similar online brokerage platforms, namely,
- Quick deposit and withdrawal: So that lost trading opportunities are reduced to a great extent.
- Reliable: IQ Option is a reliable online broker with high liquidity and is duly certified and licensed, with a monthly trading volume of more than $11 billion.
- Comfort trading: Cryptocurrency trading can be strenuous for a trader, requiring round the clock supervision for capitalising on all available trading opportunities. With Web, Desktop, IOS and Android options, traders can remain connected to the market at all times.
- Customer Experience: Cryptocurrency is a relatively new concept and traders might encounter some hurdles while trading. Thus for a platform, it is essential that they have a responsive customer service team to clear out any doubts. IQ Option has a highly skilled customer service team, working around the clock to address any problem that a trader might encounter.
- Margin trading: IQ Option allows traders the chance to make profits which are 25 times more than what other brokerages offer. This is due to the fact that IQ Option allows up to 25x leverage for cryptocurrency
- Short Selling: IQ Option has a short selling option which allows the traders to short sell a digital asset. This, in turn, ensures that the traders make a profit regardless of price movements in a market.