IQ Option Review

IQ Option Demo Account

There is no limit on how long you can use the free demo account. Another thing that sets them apart is the $10,000 in virtual money they will include in the demo account. If you run out of virtual funds inside of your demo account, the virtual funds can get replenished to continue practicing. That allows you to experiment with different trading strategies and become familiar with the platform before real money becomes invested.

The IQ Broker demo requires you to sign up or make an account to access, but not all brokers require you to do this as most companies need you to send a passport and address confirmation.

After a quick registration process, the users have instant access to a free and refillable $10.000 demo account that works just like the real one. Open Your Free Demo Account Now!

Cryptocurrency Multiples

The “Cryptocurrency Multiples” product is the result of a recently launched marketing campaign by IQ Option. The product works by leveraging the price movement of an asset by a multiplier and thereby magnifying it. With the idea of Bitcoin X 100, cryptocurrency multiples were initially produced. That means a price movement of 100X time, which provided traders with ample opportunity and a considerable risk of losing money.

As a result of blockchain cryptocurrencies such as Bitcoin X 100, IQ Option has added to its portfolio X20, X50, and X100 multipliers and recently opened the concept IOTA, Ethereum, Ripple, and other cryptocurrencies.

Order Types

Binary options traders with IQ Broker have a range of order types and stop-loss tools they can leverage to minimize losses and maximize profits.

Stop-Loss Orders – When you place this type of order, it closes automatically when you reach the amount specified. This feature lets you limit a trade’s maximum loss when it reaches the amount specified.

Multiplier Orders – Investing with multiplier orders allows you to dramatically increase your profit by setting the price movement to increase on a 20X, 50X, or 100X multiplier. However, there is also a risk as this feature makes you more exposed to losses as well.

Take Profit Orders – These orders allow the trader to take profit whenever they see fit since the trade has begun. Stop-Loss Orders – If you place a stop-loss order, you will not place a trade until your specified amount is reached.

Pre-Order – This feature allows you to put an order in on your asset exactly when it reaches a particular price. Once an asset reaches that price, the order will get executed automatically.

Mobile Trading on IQ Option

Installing the mobile trading app provided at no charge by IQ Option is an option for traders who cannot remain at their trading terminal during any prolonged period. It offers traders complete control over their current position, keeps them updated on current developments in the market, and allows them to perform trades from their mobile devices.

Deposits

IQ Option offers various payment methods to deposit money, depending on your country of residence. Popular options include bank transfers, credit or debit cards, e-wallets, and cryptocurrency wallets. However, before depositing any money, you must complete the account verification process.

The IQ Option platform has its own payment system called AstroPay, which enables payments from countries without other means of transferring funds. This system is particularly important for the Asian market and accepts bank transfers from several banks in Thailand, the Philippines, Indonesia, Vietnam, and Malaysia. Similarly, other systems are in place for South Africa (via Perfect Money, which also caters to Argentina, Colombia, and Brazil) and China (via China Union Pay, which caters to Taiwan, Hong Kong, and Macao).

Deposits are straightforward, and IQ Option’s customer support team can assist with any issues that may arise.

Is IQ Option Safe?

It is safe to use IQ Option. This company is one of the top binary options brokers in the industry, ranking among the top ten in the industry with over 80,000,000 registered users. The CySEC and US Securities and Exchange Commission have also licensed and regulated IQ Option in EAA. Banks segregate all client funds with high safety standards. IQ Option is also a member of the Investor Compensation Scheme.

IQ Option Awards

IQ Option Broker is a proud owner of 14 awards, the most notable of which are: Most innovative binary option platform, Fastest growing binary options brand, Best binary options broker, and more.

Trading fees and cost

Compared to other brokers, IQ Option is known for its transparent fee and commission structure. The main fees charged are the spread, which is the difference between the bid and ask price and varies depending on factors such as asset, volatility, liquidity, and trading hours. For cryptocurrency trades, a commission of 2.9% is charged, while other financial instruments have no commission. Swap fees, also called overnight funding fees, range from 0.1% to 0.5%, and are three times higher for positions opened over the weekend. IQ Option also charges an inactivity fee of €10 per month for accounts that are inactive for 90 consecutive days. For withdrawals, one free withdrawal is allowed per month, with a commission of 2% (minimum $1, maximum $30) for additional withdrawals.

Conclusion

IQ Option is a well-known online broker with a user-friendly trading platform. Its strong customer service, mobile trading app, binary options, and CFD trading make it a top choice for traders. With a variety of investment options and reasonable fees, IQ Option is a great recommendation for traders.