Launched in 2013, IQoption.com has grown into the preferred destination for scores of traders in a remarkably short time. The success of the operation can be attributed to a number of reasons, one of which is the fact that IQoption’s minimums are hands-down the very best in the business. As one of the industry-leading brokers, IQ Option deserves a full review. Being as popular as they are comes with certain costs of course, one of which is that they receive some negative feedback from some of their disgruntled traders. I can whole-heartedly affirm though that the operation is legitimate indeed, and the complaints regarding various withdrawal issues are either unfounded, or they’re posted by traders who haven’t provided the documentation required for such an operation.
IQoption used to have an extremely advanced trading robots platform too, which allowed traders to create their own auto-traders and to put them to the test in various trading competitions. This feature has recently been discontinued though.
The IQoption platform is superb. It’s a proprietary one and it comes with a user-friendly trading interface, as well as a number of interactive learning tools. IQ Option features some of the best returns in the binary option trading industry, to go with its attractive minimums.
IQoption is licensed by CySEC, and as such, it is fully MiFID-compliant. In addition to its Maltese license, IQoption is registered with a number of other European regulators, such as the FCA, Consob, BaFin and AFM, among others.
IQ Option Withdrawals
Despite some of the complaints out there, provided all the required documents are made available, IQoption withdrawals are smooth and seamless. It usually takes the operator one day to process a withdrawal request. The maximum in this respect – depending on the method used – is 3 days. While IQ Option doesn’t charge any fees, various commissions may be charged by payment providers.
In some cases, the broker may indeed ask for certain documents from the traders. The exact requirements in this respect will be emailed to the trader. The required documents have to be scanned and sent in.
While there is no minimum on withdrawals, for technical reasons, the operator cannot process withdrawals of less than €2.
Payouts and Features
The maximum on IQoption payouts is in the neighborhood of 91%. For most of the options though, it’s lower than that. Interestingly, IQ Option only offers two trade types: Turbo and Binary. The Turbo options feature expiries under 5 minutes, while the Binaries offer expiries over the 15 minute mark. A new option-type product is in the works as well, which I personally am looking forward to. Called “Classic” option, this category will allow traders to purchase options which they will be able to sell at any time, featuring limited loss potential and unlimited profitability.
For the time being though, we’re looking at 88% payouts on Turbo options and 77% on the Binaries. On currency pairs like the EUR/GBP though, we have 90%, so yes indeed, the IQoption payout rates are great.
When it comes to features and various trading tools, the IQoption platform is unbeatable. It carries all the indicators and graphical tools that one could possibly need for proper technical analysis. The charting feature supports 4 chart types, there are 4 lines and no fewer than 12 different indicators available.
The IQ Option trading interface offers one-click access to just about everything the operator has to offer. One can access his/her trading history and open positions (which are wonderfully drawn up onto the graph too), there’s a handy news section, video tutorials, as well as a special offers section, which features one or two assets on which the trading conditions are better than on others for some reason. One can view this feature as a sort of trading signal feature, which lets the trader decide the direction of the trade as well as expiry.
This sophisticated trading platform can be accessed by everyone, without the need to make a real money deposit. IQoption offer a great demo account, with $1,000 in virtual funds, which carries all the features of the real money trading platform.
Minimum Deposit and Incentives
The feature that I personally found the most attractive about IQoption is that they only require one to deposit $10. While for a seasoned trader, this super-low limit doesn’t really offer anything interesting, for a beginner, it shines an entirely different light upon the whole operation in terms of affordability. With such a generous minimum on deposits, comes an equally generous minimum investment amount. Traders are only required to stake $1 on their trades, which means that the minimum deposit will actually let them purchase 10 positions.
In light of the latest requirements of European regulators, IQ Option do not offer any sort of bonuses, nor do they actively encourage their traders to trade more in any way.
IQ Option Customer Support
IQoption support can be contacted from the website of the operation, or directly from the trading interface. They have a ticket-based system going, which requires traders to open a ticket and to ask their question. It will then take the IQoption support staff an average of 25 minutes to answer the question. Those who do not want to wait, can contact IQ Option support by phone too. Their number is +44 20 8068 0760, and it’s available 24/7, around the clock. There is no localized phone support.
IQoption’s Weekend Quotes
Some traders will be surprised to see that IQ Option features quotes during the weekends too, when the markets are closed. These quotes are a unique feature which allows traders to trade through OTC (Over the Counter) instruments on weekends too. An OTC deal is a deal made between two parties, without going public.
IQ Option Review Conclusion
I’ve done a lot of trading through various brokers and trading platforms, and with certainty stemming from that experience, I can affirm that IQoption.com is one of the best binary brokers out there. Their platform is superb in every way, they are accessible for everyone, and their payouts are extremely fair as well. It is one of my top trading destinations, as it’s quite possibly the best place to start your trading venture.
I suppose most of the people who read this review, except for those of you who are in the US, Canada and Australia, already have an account with IQ Option since it’s one of the brokers I recommend to those who want to join my signals group. If for some reason you don’t already have an account with them , make sure to open a free IQ Option account as this is definitely one of the best binary options brokers out there.