IQ Option Review: Deposit & Bonus of the Popular Binary Options Broker
IQ Option was founded in 2013 and they are a regulated broker based in Cyprus. In this IQ Option review, we take a look at the main features and services offered by this broker. Their trading platform stands out from standard third-party platforms. They have specifically designed the platform for their traders’ needs. It offers technical indicators such as MACD, RSI, Moving Average, and Bollinger Bands, as well as a sophisticated charting package.
This broker is ideal for small-time traders as the minimum IQ Option deposit required is just $10. Plus, they offer a free demo account to help you get acclimatized with the trading system before you invest real money.
IQ Option is a reliable broker as they are regulated by the CySEC within the Eurozone. They have built a good reputation for dependability and transparent operational processes since their inception. Under the CySEC regulation, IQ Option participates in the Investors Compensation Scheme which ensures that traders will get compensation in case the broker becomes bankrupt. But you need not have worries about that as this broker has won numerous industry awards.
IQ Option utilizes a proprietary trading platform that has been upgraded and improved to meet investors’ needs. The platform allows traders to use candlesticks to extend their market analysis to a period of one month. Plus, the broker has added two years of price quotes to the historical price database. This enables traders to access a wider range of historical price data to enhance their trading strategies. The upgraded platform offers new technical indicators like Parabolic SAR, MACD, Stochastic Oscillator, and Awesome Oscillator. All these features are designed to help traders improve their market and asset analysis.
Traders that are on the move can download dedicated mobile apps for Android and iOS devices. These apps enable them to trade from anywhere on any internet-ready mobile device.
Available asset types are: Commodities, Global Indices, Eurozone and Global Stocks, US Stocks, and Majors and Minors Forex Pairs.
In addition, you can try the following trade types:
- Turbo options – expiry time less than five minutes
- Binary options – expiry time from 15 minutes
- Classic options – trades with unlimited profitability
IQ Option offers 2 types of accounts:
- Minimum deposit of $10
- Access all available trading instruments
- Participate in weekly tournaments
- Minimum deposit of $3000
- Personal manager
- 3% extra payout
- Free entry to tournaments
As mentioned earlier, IQ Option offers a demo account for which you can register with your Facebook account. The demo account gives you access to $1000 virtual money that you can use for practice trading. Use the demo account to get good practice and to learn the system’s different tools and features before you invest actual money.
You can deposit securely using a range of methods such as credit cards (MasterCard, Visa, and Diners), bank wire transfers, and eWallets (including Webmoney, Skrill, and Neteller).
You can withdraw money using the same method used for deposit. There is no minimum withdrawal amount. Withdrawals are usually processed within 24 hours.
Promotions and Bonus
You can pay a small entry fee to participate in trading tournaments. Entry is free for VIP account holders. These tournaments offer lucrative cash prizes in the range of $100 to up to $100,000.
IQ Option bonus depends on the amount you invest. For a deposit of $100 you get 20% bonus, for a deposit of $2000 you get 90% bonus, and for a deposit of $5000 you get 100% bonus. However, be sure to read the terms and conditions to learn how much turnover is required for withdrawal.
IQ Option offers 24/7 customer support on multiple channels including live chat. Their website is offered in 12 languages for the benefit of non English speaking investors. However IQ Option does not accept traders from the US, Iran, Sudan, Syria, Israel, Turkey, Russia, Japan, Australia, and Canada.
On the positives side, we count the intuitive trading platform, high payouts above 90%, regulated status, regular tournaments, and reliable 24/ customer support. The only minor downside is this broker offers live chat support only for real account holders. On the whole, we recommend IQ Option as a trustworthy binary options broker that offers state-of-the-art tools and features that you will enjoy using.