IQ Option Overview
IQ Option is a company that provides financial services. They’ve been providing online trading services for a long time and are still growing.
The firm will also provide margin trading in 2020. This puts them on par with Europe’s and beyond’s more established brokers and CFD operators.
Rather than using a conventional trading platform, the company has decided to supply each of its clients with its platform, which is tailored to their individual trading needs.
CFDs and binary options are traded on the same platform. The well-designed and simple-to-use interface has a huge chart, which is extremely useful for traders who wish to keep track of market circumstances. With some instruments, margin trading is now possible.
Furthermore, the site includes a diverse set of trading instruments not often found on binary options trading platforms.
To give traders additional choice, the company frequently introduces new features to the platform. “Position replenishment” is one of these functions. This permits the trader to keep the deal open if the stop loss is approaching.
Traders who are unable to remain at their trading terminal for an extended period can download a mobile application.
Traders may check the status of their accounts, stay up to date on market events, and conduct trades using the mobile trading application, which is created exclusively for smartphones and mobile devices.
To open a standard account, you only need to make a $10 deposit.
Traders who want to try out the platform can do so by creating a demo account. It is offered without charge and the need for a “pre-deposit.”
The demo account comes with $10,000 in practice money, which you may use to practice trading.
IQ Option Assets
Traders can already trade 300 different underlying assets. A total of 120 currency pairs, market indexes, equities, and commodities are available.
Recently, the company expanded its cryptocurrency trading options to include a total of 12 distinct types of cryptocurrencies.
The number of trading markets available is constantly increasing. The organization increased the number of currency pairs and company stocks it offers to 150.
Oil, gold, and silver have all been added to Digital Trades’ asset lists as a result of the firm’s expansion of markets to all items.
Each product has a different minimum transaction size.
Binary and digital options can be started for $1, while Forex CFDs require a minimum trade size of 0.001 lot, and currency options cost $30 (or the equivalent in EUR or GBP).
Cryptocurrency multipliers are another novel product offered by IQ. They function as leveraged trades, which means that price movements in the underlying assets are increased.
With Bitcoin x2, the broker was the first to promote this concept. This quadrupled the price activity, giving traders more possibilities – but also more risk.
This solution was so successful that IQ decided to expand the concept to include Ethereum, IOTA, Ripple, and other cryptocurrencies. For all available coins, the multiplier coefficient is x2.
Trading costs and fees
The firm is transparent about its fees and costs.
- The gap between the purchasing and selling prices is known as a spread. This is a very volatile market that is affected by volatility, liquidity, and even the time of day.
- The swap fee is the cost of holding a position overnight. Fees range from 0.1 percent to 0.5 percent, with higher fees if positions are held over the weekend. International clients can benefit from zero swap trading conditions.
- If an account has been dormant for 90 days, the firm will begin charging a monthly fee of €10 (or currency equivalent) as long as the account balance remains over zero.
- Withdrawal Fees: While most payment service providers charge no fees, wire transfers cost $31 (or the equivalent in another currency).
- Certain cryptocurrency transactions will incur a 2.9 percent commission. There are no additional assets that are subject to this fee.
The broker has made its support team available 24 hours a day, seven days a week to guarantee that traders can get assistance when they need it. They can reach out to customer service via email, live chat, or phone. The firm has also converted its website into a dozen additional languages for traders whose first language is not English.
Funds deposits and withdrawals
The broker has made many means of transferring funds available to replenish trading accounts.
Credit card transfers, e-wallet transfers, and bank transfers are among the options.
VISA and MasterCard credit cards are accepted for payment. Popular e-wallet solutions include Neteller, Skrill, Perfect Money, and Webmoney, among others.
Traders can withdraw cash using the same methods they used to deposit it in the first place.
Withdrawal requests are normally processed within one business day, although e-wallet withdrawals might take up to several hours.
The withdrawal process for credit cards and wire transfers might take up to 10 business days.
Countries with the firm do not work.
Thailand, South Africa, Singapore, Hong Kong, India, France, Germany, Norway, Sweden, Italy, Denmark, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and the majority of other nations are accepted by the broker.
Traders from the United States, Japan, Israel, Turkey, Belgium, Russian Federation, Australia, Canada, Spain, Portugal, the United Kingdom, Ireland, the Czech Republic, Switzerland, Belarus, Afghanistan, Albania, and St. Barthelemy are not permitted to use IQ Option.
IQ Options Europe Ltd is a company that provides financial services. They’ve been providing online trading services for a long time and are still growing.
With just $10, you can open an account. With low spreads, you can trade more than 14 cryptocurrencies directly on the regular forex market.