Deposits and Withdrawals Review IQ Option traces its binary options reviews best conditions to as a binary options broker in the now-defunct industry, which was infamously known for misleading marketing, scams, and fraud, at least until global regulators clamped down on those nefarious practices. IQ Option remains one of a few brokers that transitioned into CFD trading in but they failed to get rid of its original binary options mentality.
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Once a leader in the binary options sector, management is still attempting to duplicate that success. Per its own account, it has over 48, registered users, as of Given the lack of evidence to support claims, it in itself provides evidence of the remnants of the binary options industry.
In binary options reviews best conditions, IQ Option founded a charitable foundation with a focus on the least developed how not to make some money in Africa and, to-date, has completed two projects in Rwanda. Vincent and the Grenadines. The SVGFSA maintains the responsibility of IBC registrations but does not provide regulatory oversight over brokers, as the current legal requirement does not require that.
IQ Option does not offer independent audits or confirmation of its performance claims.
IQ Option is not a member of the Hong Kong-based Financial Commission, which is the primary insurance policy for unregulated brokers, nor does it take any steps to ensure the safety, security, financial stability, or transparency of its operations.
Given the foregoing, this unregulated broker resembles many aspects of its binary options past. The terms and conditions show the only reference to its jurisdiction.
Other currency pairs feature an average pricing environment.
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Equity CFDs remain free of commission costs, but spreads are above-average. IQ Option notes that a maintenance fee applies to cryptocurrency CFDs, which increases over time to a maximum of 2. Swap rates on leveraged overnight positions apply, but IQ Option fails to disclose how it processes corporate actions such as dividends, splits, and mergers. The lack of transparency raises a significant red flag.
No deposit fees exist, and this broker does grant one free withdrawal per calendar month; subsequent withdrawals within a calendar month are assessed a 2. Spreads and swap rates represent the principal fees at IQ Option, but cryptocurrencies face a maintenance charge.
Back to Top What Can I Trade Remaining loyal to its binary options past, which was highly profitable for brokers, IQ Option offers 50 binary options and lists them binary options reviews best conditions. Forex traders have just 41 currency pairs to trade, but 26 cryptocurrencies, with leverage of up togrant above-average exposure to that sector. Only four commodities are available; namely, gold, silver, and two oil contracts.
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The overall asset selection remains average. IQ Option offers traders assets across six categories. While this broker lists index CFDs as an option, presently, there are no assets in this category. All traders, regardless of deposit size, will trade from the same account type, under identical trading conditions. Back to Top Trading Platforms Clients at IQ Option may only trade on its proprietary trading platform, available as a desktop client, webtrader, and mobile app.
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It does not support automated trading or third-party developers but does allow traders to establish alerts based on more than technical indicators and an economic calendar. It also allows traders to create a multi-chart layout; unfortunately, IQ Option does not properly introduce it to potential new traders, perhaps due to the absence of more competitive features. IQ Option only provides its proprietary trading platform.
Back to Top Unique Features IQ Option provides a sentiment indicator and appears to allow social trading via a feature labeled Community Live Deal, but fails to provide further information. Regrettably, the lack of transparency is pervasive. Community Live Deal offers traders access to social trading. It represents an acceptable solution, and the product is an excellent source of information.
Traders may filter through it based on the desired asset, or use the search bar to locate content specific to an individual instrument or keyword. The most intuitive feature is icons of assets impacted by the article; clicking on it will direct traders to a screen with information about it and the ability to place a trade.
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Clicking on the asset icon in each article will direct traders to a new screen where more information awaits, together with the ability to place trades. IQ Option does provide an extensive video library for education purposes. Since most traders at this broker are millennial ones, who generally have a preference for short videos over written content, the educational section at IQ Option caters perfectly to the core client-base.
Most videos are less than seconds long but of good quality. New traders can view them directly on the website or access them on Vimeo, where IQ Option hosts them.
The cryptocurrency sector remains a focal point at this broker, and most videos cater to it.
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While IQ Option delivers an introduction to trading, it fails to provide more in-depth binary options reviews best conditions. The only written article covers the basics of margin trading. The video library offers new traders a basic introduction with short videos less than seconds in length.
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IQ Option provides just one written article. Phone numbers in seventeen countries, most of which are toll-free, provides the most convenient access to multi-lingual customer support. The FAQ section attempts to answer most questions and also points to live support for clients after they have logged into the trading platform. Most traders never require customer support, but the lack of transparency at IQ Option may warrant above-average assistance, which this broker provides through 79 support representatives.
This broker offers outstanding customer support, a rare asset at IQ Option. The answering times via live chat and e-mail are excellent. Back to Top Bonuses and Promotions A the time of this review, IQ Option hosted three trading tournaments, each of which requires a buy-in, similar to a poker tournament.
Terms and conditions do apply, and anyone interested in participating in any of the tournaments should take the time to read and understand them. New traders should remain cautious, however, as trading tournaments tend to promote a false sense of knowledge and risky trading in order to win a portion of the prize pool.
IQ Binary options reviews best conditions hosts trading binary options reviews best conditions throughout the year, which require a buy-in to participate, mimicking poker tournaments. Terms and conditions apply to all tournaments, and traders should read and understand them before participating. Back to Top Opening an Account Per well-established industry standards, an online application processes new accounts; a name, e-mail, phone number, and country are required during the initial step.
IQ Option allows new clients to complete this step via their Facebook or Google probabilities in trading. Each trader must determine if the trading environment of IQ Option satisfies their needs for trust, safety, security, and transparency.
An online application handles new accounts at this unregulated broker.