iq option

Overview of iq option

IQ Option was founded in 2013. Despite not being regulated by any authoritative body, it has grown quite rapidly. In 2014, there were just under 1 million users with this broker. By 2020, the brand had over 40 million registered users. Additionally, trades over that time period increased 800%, with IQ Option hitting a trade volume of $290 million per month in 2020. Traders also withdrew $20.375 million from the platform in 2020.

What is iq option？

IQ Option is a prominent online trading platform that provides individuals with the opportunity to engage in various financial markets, including forex, stocks, cryptocurrencies, commodities, and more. One notable feature of IQ Option is its maximum leverage ratio of 1:1000, which allows traders to potentially amplify their positions and enhance their potential returns.

IQ Option provides users with a user-friendly trading platform, called WebTrader, which can be accessed through their website. They also have a mobile app available for both iOS and Android devices, allowing traders to conveniently manage their accounts on the go.

In terms of deposit and withdrawal options, IQ Option offers a variety of choices, including credit/debit cards, bank transfers, and e-wallets such as Skrill, Neteller, and WebMoney. This provides flexibility and convenience for users to manage their funds efficiently.

Pros and cons

Security

The security measures of IQ Option include various protection measures to safeguard user accounts and funds. They use SSL encryption technology to ensure secure communication and protect users' personal and financial information. Additionally, IQ Option implements strict security protocols and firewalls to prevent unauthorized access to their systems.

In terms of user feedback, IQ Option has generally positive reviews regarding its security measures. Users appreciate the encryption technology and the multiple layers of security implemented by the platform.

Cryptocurrencies available

Currently, IQ Option offers a total of 26 cryptocurrencies including the most popular cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Ripple (XRP), Litecoin (LTC), and more. Among these are leveraged cryptocurrencies.

How to open an account？

The registration process of IQ Option is simple and straightforward. Here are the six steps:

1. Visit the IQ Option website and click on the “Sign Up” button.

2. Enter your email address and create a password for your account.

3. Read and accept the terms and conditions of IQ Option.

4. Provide your personal information, including your full name, date of birth, and country of residence.

5. Verify your email address by clicking on the verification link sent to the email provided.

6. Complete the account verification process by submitting the necessary identification documents as per KYC (Know Your Customer) requirements.

Fees

IQ Options itself does not charge direct fees for trading (selling or buying) assets, but there is a spread between the purchase and the sale price favouring IQ Option. This amount varies depending on the asset you are trading.

IQ Option Spread Examples:

Please also note that overnight funding may be charged for holding open positions. If you keep any open position after the market closes, you will have to pay a financing fee; this is around 0,01% and 0,6%, but it can go as high as 1,7% of the value of your position.

In additon, a fee of 2.9% will be charged if you open a 'long' cryptocurrency position. For example, if you invest $10 to buy the equivalent in Bitcoin, you will be charged $0.29 for opening the position (or 2.9% of $10). There are no fees for currency exchange, as long as you make your deposit in your accounts currency (Euro, Pounds or United States Dollars).

Inactive Account Fee

There is a 'Dormant Account Fee' with this broker. While some brokers only require that you log in to your account to keep it active, IQ Option charges a fee if an account is inactive for 90 days. If no trades are opened, pending, or executed within 90 days, your account will be charged the €10 fee. The same amount will also be charged monthly afterwards if your account remains dormant.

Deposit & Withdrawal

IQ Option offers a variety of deposit and withdrawal methods for users. Some of the deposit methods available include credit/debit cards, bank transfers, and e-wallets like Skrill, Neteller, and WebMoney. These options provide flexibility and convenience for users to fund their accounts.

Deposits on IQ Option are free of charge.The minimum deposit required to open an IQ Option Account is $10 USD/350 THB/10 EUR.

While you won't be charged for opening an account with IQ Option or making a deposit, it's important that you submit your identification verification documents as soon as possible after you've opened your account. If you don't submit them within 15 days after making your first deposit, all your funds (minus profits) will be returned to your account. If your balance is above €5 then you don't need to worry, but if it's below €5 then you'll be charged a fee of up to €5.

IQ Option makes 2 live trading account types available, IQ Option Real and IQ Option VIP.

The processing time for deposits on IQ Option is generally instant or takes a few minutes, depending on the payment method used. However, the processing time may vary based on certain factors, such as the user's bank or payment provider.

IQ Option charges a second withdrawal fee of 2%. This applies to the second, not the first, withdrawal a client makes each month. This fee is fixed.

Exchange Comparison

Is iq option a Good Exchange for You？

Trading groups can be beneficial for traders using IQ Option as they provide a platform for sharing insights, discussing strategies, and staying updated with the latest market trends. These groups can be suitable for different target groups based on their trading goals and interests.

1. For novice traders, joining beginner-friendly trading groups can be helpful as they offer educational resources, guidance, and support from experienced traders. These groups often focus on teaching the basics of trading, introducing trading strategies, and sharing tips for risk management. Novice traders can benefit from the knowledge and experiences of more seasoned traders in these groups.

2. For experienced traders, advanced trading groups can be a good fit. These groups typically focus on in-depth market analysis, advanced trading techniques, and discussions about complex trading strategies. Experienced traders can exchange ideas, share advanced trading strategies, and explore new trading opportunities with like-minded individuals.