Our review today is going to focus on a trading platform known as IQ option. In this IQ Option review, we aim to compare the platform with others that we review and establish whether the platform is legit or a scam. So is IQ a good platform? Can we really trust the broker to take care of our money after making an investment? Let’s find out.
Product: IQ options
Owner: Dmitry Zaretsky (Founder and CEO)
Price: Minimum $10
Who is it for: Binary options traders
IQ option Review – About
Since first starting just a few years ago, IQ Option has made a name for itself among traders. The broker is great for new traders as well as professionals as it offers a solid trading platform and a variety of assets to trade. The demo account allows potential clients to get an idea of how the platform works before investing any money into an account. IQ binary option is one of the leading platforms today.
You go to youtube, social media, adverts on websites, the IQ option adverts are every. It has been in operation for quite a while now. It has built a reputation but everything has its bad side. There is always a bad side of any trading platform and this what we call as Red flags. So without further delays let me tell you what is IQ option.
There are a wide variety of products and assets that are supported by IQ option. No to mention too, there are different trading options too available in IQ option. The options available are great for beginners and professionals as the platform has got tutorials which is good to grow and familiarize with the platform. There are a variety of financial markets available through the broker. Some of the assets available are such as both the Asian and the Latin American broker’s boards, Itau Uni-Banco holdings, ALIBABA, Avtovaz, China BAK, BBVA, Loha Renner, PetroChina stocks and many more.
There are numerous assets supported by IQ Option. There are also many different trading options available. This flexibility is good for both beginners and professionals as the platform will grow with you as you are expanding your portfolio. There are numerous tools available that will provide you with different ways to make a profit. This means that trades can choose to trade in a stock of well-known companies other than currency pairs only.
IQ Option’s Platform
You can access the trading platform in three ways. One you can download the software on your laptop and install it. This means you will be having the trading software as an application on your desktop. The second way is that you can always trade on the web-based platform. The third one is through phone applications which are available in both play store and iPhone app store.
The platform offers great and highly intuitive interface. This makes the platform easy to use and very user-friendly for beginners in the binary trading option.
The platform is aimed specifically at binary options and all of the design decisions are based on this type of trading option. IQ Option is currently quite popular throughout South America, Europe, and Southwest Asia. Each day the platform is gaining in popularity in areas throughout the world.
Account types available in IQ Broker Site
There are two types of accounts available on IQ option broker site, they are real account and the VIP account
IQ option Real account. The IQ real account offers a minimum amount of $10 with cash back of up to 45% available. After deposits, all the assets in the site can be used, weekly Webinars are done, real account users can also enter web brokers trading competitions.
The VIP account, an investor needs to make a deposit of $1000 with a cashback of up to 60% is given. A user can join in VIP webinars, VIP users can get a bonus of 100%, a VIP account holder is also given a personal account manager.
Methods of Payment
The payment method involved with IQ binary option is;
- Sofort and
- Many more.
So is IQ option a SCAM?
Well as we said earlier, everything has a bad side that bears the Red flag. IQ option has a good reputation but not for all. People have been complaining about their trades being withdrawn and very much delayed payouts. With other being used to submit documents every now and then, this show how the broker just wants to rob off traders. see below an example compliant;
Complain Origin it happened twice when iq option closed my trade just like that.. I put 2 transactions with set up the take profit 25% and stop loss -95% but each trade suddenly closed when reached – 77.6% and -7,2% I’ve tried so many times to go trough iq option customer and seemed so useless..in other thing is I’ve already made my withdraw and notified that I’ve to wait for 3days till i received my money but until today none of my money gets into my bank account.are these really the way iq option fooled by their trader???sorry for my terrible english. The reason for review: Not as described. Monetary Loss: $70.
Final words and verdict on IQ options
Overall rating: (2.5 / 5)
For me and all the research I have done on the broker, I can say that it is good but not serious about their clients. Traders need a platform which does not have loopholes what so ever. Immediately I see people complaining about IQ binary option, am tempted to call it a SCAM!!! To spare the broker I will just say it is not much of a scam but at the same time, I will not recommend anyone to use the broker.
IQ option is so popular nowadays but not one of my favorites platform. There are too many complaints, even for a popular broker like this one. On the other hand, it is a broker that you know it will be here tomorrow to trade. It follows all the rules. And they are serious about their business. They are not here just to make some money and go. Something else, they themselves give a warning that does not invest more than you can afford to lose. Follow the right path and look for the best broker to work with.
I hope you liked this review on IQ option and that you found it helpful. If you have tried it please share your experience in the comment section below as it can help others. Also, if you got any other questions about this review I will be more than happy to answer them below.
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I wish you success!
Ephraim, trading enthusiast and team member on: