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IQ Option Review 2020 – Is This Broker Safe or Scam?

May 26, 2020 GMT

IQ Option is a financial services company headquartered in Cyprus, operated and controlled by IQ Option Europe Ltd. Designated as a Cypriot Investment firm (CIF), the trading site comes under the Cyprus Securities Exchange Commission (CySEC) regulation. IQ Option also rendered the web site incredibly tradable. It lets the customer use several financial instruments like bitcoin, shares, cash, ETFs, and forex to conduct also complicated trading strategies. The broker was founded in 2013, operated by IQ Option Ltd.

The development of IQ Option has been exponential and it has been the largest trading site in the world with 1 million trades a day and 48 million active users. IQ Option is based on Cyprus, and regulated by CySEC (Cyprus Securities and Exchange Commission). This IQ Option review will help you decide whether or not the platforms comprehensive knowledge can meet your trading needs.

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IQ Option Review What it Offers

IQ Option is a versatile trading platform that allows its customers to swap Contracts for Variations (CFDs) on commodities, currencies, Exchange Traded Funds (ETFs), Forex, and many other digital assets from the outset as a dealer in digital options.

-Forex FX exchange, or Forex, is a growing financial activity and IQ Choice shows some 188 currency trading pairs, which helps customers to easily swap their favorite foreign currencies.

-EFTs EFT investment is a fairly recent product, so ETFs work by monitoring commodity prices, indices so baskets. This can be exchanged in the same lines as standard inventories, and traders can choose different ETFs from about 4288.

-Cryptocurrencies Customers could exchange 12 of the largest cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, Monero, Zcash, Omisego, IOTA and Dash too.

-CFD on Stocks IQ Choice enables customers to exchange CFDs from the most common listed NASDAQ and NYSE businesses on stocks of more than 176 separate firms.

-Other alternatives Customers will bet on asset prices such as currencies, shares, indexes, goods, etc. The Platform has since been a portal to over 10 million alternatives.

IQ Option Demo Account

IQ Option offers a free account like all other rivals. So, it stands out from the IQ Choice sample account. Thats because theres no cap to how long you should use the trial plan. This helps you feel completely at home with your trading strategies. That also helps you to check possible potential trading strategies. Digital funds need $10,000 for the IQ Option Sample Account. A further advantage of the trial program is that you dont need to have contact details until you use it. That isnt necessarily the case for rivals. The lack of personal details provided for a trial account helps preserve the privacy of prospective customers.

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IQ Option Real Accounts

IQ Option needs a small minimum deposit and new traders may begin by simply depositing $10 to open a live account, there are currently two choices for a trading account:

1.Real Account It is possible to achieve a minimum investment of $10 and Trading capacity is not limited. This account offers access to more than 70 properties, and customers will accept deposits and be processed within 24 hours. True account holders will also compete in various trading contests (customers outside the EU) hosted on the platform.

2.VIP Account This is open to traders depositing $1900 or an equal amount in certain currencies by providing a trading balance in $15,000 IQ Option Ltd. In addition to the functionality displayed on the regular account, there is also a professional consultant in the VIP account who will also help traders with any questions and difficulties. The VIP account also comes with a monthly report on market trading behavior, which is checked by analysts at the firm and provides consumers with invaluable input on their results.

IQ Option Deposits

IQ Option has a fixed USD / GBP / EUR 10 deposit. You may pick the deposit form you want and there is no charge for depositing capital incurred through IQ Choice. You would have to go through the account authentication process to allow the first payment, which includes adding the email, contact details, adding the trading background, and uploading picture data in the EU.

Various countries that have specific criteria which may need proof to facilitate transactions on the network. IQ Option gives its clients a variety of deposit and loan solutions to and from their trading accounts. Usually consumers may use debit schemes such as Maestro and Visa Electron, or Visa and Master Card credit cards. Several payment services, including Skrill, WebMoney, Cash U, Neteller, and Moneybookers, may be used by consumers. Transactions are now accepted for Wire Transfer and the new minimum withdrawal sum is $2, while the authorized withdrawal period is 1 business day.

IQ Option Withdrawals

When withdrawing funds from your IQ Option account the mechanism used can differ based on the deposit type being made. For credit or debit card purchases the original cost of the fee will be removed from the record. While this deduction is known as a refund, you can only remove your credit or debit card within 90 days, even deposits made up to that amount.

The e-wallet withdrawal methods for deposits such as Skrill, WebMoney, and Neteller are similar to those for. Alternatively, you should use a bank transfer to collect those earnings. Please be aware that a money transfer option would impose a fee of $31. In the case of an e-wallet transaction you need to transfer the funds to the same e-wallet account. Whatever mood you want to delete, IQ Option will manage the request within 3 working days. Payment systems Visa cards and service providers can need additional processing time. Bear in mind that you will check your identification by sending verification papers before you can transfer funds from your IQ Option Identification. It refers to the transfer of:

-A Visual Identification with a vehicle stamp or a passport.

-You must also display a snapshot of each card used on both hands in the case of a purchase completed using a bank card. Hide the CVV number and the middle digits of the card size. Keep the first six and final four digits open. Its for your safety.

How to Trade on IQ Option

Trading on IQ Option, a well-constructed trading network, is fairly easy. In the middle on the right hand you can see the buy and sale case diagram. The balance and any funds you currently give are listed at the edge. To pick which player to offer to, using the drop-down located in the chart region at the top left. The drop-down includes FX Options, Forex, Stocks, Crypto, Funds, Indices, and ETFs and then you can select or check the product you have selected. You offer directly via the Interface of the Cloud Trader.

On the right side of the screen youll see opportunities to purchase and sell your favorite items. You type in the amount of the product you want to purchase and fill out your order. You can conveniently put an order from the smartphone app too, and the overall design is fairly identical. You will have the same opportunities on the right of the screen, with the ability to change capital, equity, and interest and instead chose to purchase or sell. This portion of the Trading platform would also display the split for clarification.

Users can now conveniently check for their favorite cryptocurrencies and evaluate all the details that are most important and up to date. Besides selling Bitcoin and Ethereum, IQ Option also permits investment in at least ten other cryptocurrencies. That includes Dash, Ethereum, Regular, IOTA, Ripple, Monero, and Litecoin. Sometimes, the Application offers simple ties to accounts, past trading, and customer support, enabling consumers to quickly open a conversation with the aid team in case of any problems. Another highlight is the help aspect that offers ties to the resources for preparation and schooling.

The demo edition of the Trading software is the same as the last one, so traders will improve their expertise by accessing the $10,000 in virtual funds that come with the account. Those funds can be replenished should things go wrong, offering traders a healthy pool of funds to play with.

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Order Types Stop Loss Tools

IQ Option offers a variety of order forms for traders to increase versatility and customize the trading experience as required from current trading sites. Choosing an order enables traders to build plans with a quick, medium, or long-term variable return. Multipliers enable traders to increase the investment risk volume with subsequent value rise. Stop-loss orders let traders set maximum losses they will take, halting trading automatically if allowed. Benefit-taking is the same because whether the income hits the consumer you decide.

A trailing stop can allow an auto-close to work dynamically at the expense, going with the demand in the direction the trader has indicated. Pre-order purchasing lets sellers decide the price they will enter the company. To supplement the guidance types, IQ Option provides a variety of methods for creating stops and taking advantage. While most brokers merely need you to pick the asset price, IQ Option enables you to either assign a number, multiple loss, or individual asset price to gain or prevent loss.

Order Types

The IQ Option provides similar types of orders, with the various types of orders available differing by the asset.

-Trailing stop orders operate upon the concept of a stop failure by utilizing auto-close dynamically halted. A trailing stop order can step in the direction you like, with the price adjustments.

-Taking benefit orders are in essence the reverse of a stop-loss control. You determine how much income you want to make and when it hits this stage, the order will automatically end.

-Stop-loss orders demand that you set the maximum losses youd be taking. When initiating this sort of order, it immediately stops the exchange through which the damages arise.

-Multiplier orders require that you increase the returns on investment with a multiplier and the level of risk involved. It is a popular tool for seasoned traders but, because of the increased risk, it can only be used by those with expertise. If adequately used, future revenue will rise significantly.

-Finally, a pre-order helps you select the price you intend to enter the product at. Once the demand hits that level, the trade will be carried out automatically.

Charting Tools

The broker provides a broad range of charting software that can offer advice to help customers plan their trading strategy and ensure traders can get the most out of the trading environment with the IQ option. Candle charts are among the most common among traders with the IQ Option. These candles display duration of time, with solid colors indicating variance for the period provided and points shown for the date at the beginning and end of the period provided. Theyre tantamount to empty candles. Nevertheless, the positive candles are circular instead of providing just solid colors, whereas the negative candles are heavy.

Conclusion

IQ Option is a growing company that has grown to run about 15 million consumers who carry out an average of 3 million transactions. The business also enjoys an annual exchange average of $11 billion and is charging its consumers more than $5.7 million a month. The software will have some drawbacks, so consumers requiring intense communication with a representative of customer service will not be rewarded for the two account levels. To remain in regular contact with a custom account manager broker, a $3000 charge is required to be charged that could be too stringent for others. The platform is also proving common with traders around the world and despite IQ Option devoting time and resources to enhancing customer support, there is a risk that users will have to wait longer than 24 minutes for their queries to be processed.

IQ Option is an incredible platform that gives its users much interest. The website incorporates a high degree of openness and accessibility to ensure consumers feel confident that the website is compliant with the current financial regulations. Trading on the web is usually a relatively seamless process, and the website uses a simple-to-use, elegant user interface. The program and trading platform are flexible enough to enable seasoned traders to master the trading process painlessly while also remaining easy enough to encourage new entrants to.

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