IQ Option trading forex broker review

IQ Option can be summed up as a reliable broker with a solid reputation who offers high-quality educational resources and an intuitive trading dashboard. With spreads far lower than industry averages, this firm offers extremely competitive trading fees, as explained in the IQ Option trading forex broker review. With 89 out of 100 trusts, this firm has a high rating.

What is IQ Option?

Upon accessing the its webpage, traders are greeted with the slogan, “Instant Access to Investing, anytime and anywhere.” This company provides its customers with a demo account funded virtually with $10,000 / 160 000 ZAR, live trading accounts with a $10 / 160 ZAR minimum deposit, and minimal investments as low as $1 / 16 ZAR.

An award-winning platform, fully customizable interface, easy withdrawals, and round-the-clock support are all included with an IQ Option account.

Pros and Cons

Top IQ Option Features

Let’s check some of the most valuable features regarding this company.

Stock Collections

Stock trading has the potential to be very profitable, and this firm offers a convenient way to bundle various stock collections. These compilations consist of Warren Buffett’s picks, IT & Internet Blue Chips, Big Game of Money, 10 Dividend Kings, 10 Largest U.S. Companies, and more.

Additionally, there are collections in sectors like consumer discretionary, energy, materials, and manufacturing.

Historical Quotations

The historical quotes on exchange rates of financial instruments (currency pairs, etc.) over time are viewable by traders using IQ Option. This data is available for download, and you can use it to experiment with and implement various analyses and tactics.

Fast growing brand

This company is one of the online trading firms with the fastest rate of growth in the world. This broker will appeal to traders looking for a business that has some longevity in the market because it has been in operation for almost ten years.

As explained in the IQ Option trading forex broker review, there are currently about forty million members. To put it mildly, this company has a substantial presence.

Video Tutorial

Seeing a broker that provides at least a few educational resources is always pleasant. This company offers its traders video tutorials covering topics such as basic information, margin trading, fundamental analysis, CFD trading, and technical analysis. However, its resource pool isn’t as extensive as that of other brokers. Videos about the company’s background and operations are also available.

Tournaments

Who doesn’t enjoy a good competition? On its website, this firm states that it periodically offers Online Tournaments to its traders.

Trading in Cryptocurrencies

This company has established a solid reputation as a top cryptocurrency company with a large selection of coins over the years. Majors and minors are among the numerous digital assets from which to select. Traders who desire a decentralized currency that is somewhat volatile find these assets to be a compelling alternative, as claimed in the IQ Option trading forex broker review.

Customer Service

Customer service is available around the clock from this company in more than a dozen languages. In comparison to other brokers, this offers more hours and multilingual capabilities.

Sign-Up Bonus

IQ Option does not currently provide new account applicants with a sign-up or welcome bonus.  On the other hand, this firm is well recognized for having a low minimum deposit required to create a new trading account.

IQ Option Account Types

Two live trading account variations are available from this company, allowing traders to select the Option that best suits their needs.

Real Account

With a $10 / 160 ZAR minimum deposit, traders can enjoy a full trading experience with the Real Account.  More than 300 assets will be available for trading to users.

Weekly tournaments are available to Real Account users, and live chat support is available. Traders who opt for the real account Option will continue to have access to their demo account.

VIP Account

An array of unique advantages is available to investors through the VIP Account.  High profitability rates, the use of a personal account manager, and free tournament account participation are some of these advantages.

Demo Account

There is no time limit and no cost to use the Demo Account.  $10,000 USD in virtual currency is pre-loaded into the demo account and can be added to at any time. Please be aware that opening a demo account requires registration, as stated in the IQ Option trading forex broker review.

Islamic, Swap-Free Account

An Islamic, swap-free account Option is provided by this company. To register for the Islamic, Swap-Free account, the applicant needs to ask for help from the firm’s Customer Support.

IQ Option Minimum Deposit

Three distinct account types are available from this firm, and each has a different minimum deposit requirement. To open a live trading account, you will need to deposit a minimum amount.

Generally, the minimum deposit amount when converted will be approximately $10 USD; however, this will vary based on the investor’s selected account currency.

IQ Option Fees, Spreads, and Commission

According to the IQ Option trading forex broker review, the starting spread is 0.6 pip EUR/USD, and it varies based on the financial instrument traded, market conditions, and liquidity.

There are no commission fees for deposits made with this company (*a currency conversion fee may apply). However, there is a monthly limit of one free withdrawal; thereafter, there is a fee of 2% of the total amount withdrawn, with a maximum of $30 and a minimum of $1.

Maximum leverage of up to 1:1000 is anticipated by traders.  Overnight/Swap Fees, which begin at 0.86%, are additional fees levied by this firm.

IQ Option Deposit and Withdrawals

IQ Option Affiliate Program

A special platform that maximizes profits for referrers. This company will handle all of the work, so the referrer can concentrate on their traffic.

Step 1: Commencing the Process

Referrers can post their affiliate link on their website or advertisement if they own a blog or website or if they buy traffic from the internet.

Step 2: The Connection

Users who click on the advertisement or link are identified by a special ID.

Step 3: Getting Clients Registered

Profit is made if the user clicks on the link to sign up for the IQ Option platform and begins trading!

Step 4: Accrual of Profit

Depending on the trading activity of their clients, the broker may award the referrer with up to 50% of the profit.

Step 5: Payment

The company will distribute profits using a chosen payment method twice a month.

Who Is IQ Option Recommended For?

For traders with moderate to advanced experience who are looking for a broker with a proprietary platform, this company is highly recommended. The other educational resources are not very comprehensive, despite the fact that the video tutorials are an excellent learning tool. Therefore, before registering with this broker, you should have at least a basic understanding of trading.

In addition, one of its selling points is that it caters to traders looking for a firm that offers a large selection of cryptocurrencies, as in the IQ Option trading forex broker review. If you fit into those previously mentioned categories, this firm is worth looking into, provided that you don’t mind not using MetaTrader.

Trading Platforms

• IQ Option Proprietary Platform
• IQ Option App (Google and Apple)

Reliability & Security

As per the IQ Option trading forex broker review, this company places a high priority on the safekeeping of funds. In terms of dependability, it operates a separate platform. A Trading Community, risk management add-ons, and analysis and alerts are some of the features offered by this platform.

If you’re looking for the MetaTrader suite, look elsewhere because this company offers its own trading platform.

IQ Option Awards

Here’s the list of the awards this company has won over the years:

• Best Trading Platform: Given by FX Daily Info (2022)
• Best Trading Experience: Presented by WorldForexAward (2022)
• Excellence In Forex Trading Platform Global: Awarded by Global Business Review (2022)
• Fastest-Growing Online Broker in Asia: From International Business Magazine (2022)

Conclusion

IQ Option is a remarkable platform that offers genuine value to its users, as mentioned in the IQ Option trading forex broker review. Users can be sure that the platform is operating in compliance with the most recent financial regulations thanks to the site’s functionality and transparency.