IQ Option provides binary options traders great benefits, one of which is a demo account with no time restrictions. Another huge plus is the IQ Option robots, which gives traders the ability to auto trade with their own custom built robots. A user friendly cutting-edge trading platform is further enhanced with a well designed IQ Option app, uniquely tailored for both Android and iOS.
Each of these features are covered in our IQ Option review, as well as other important elements such as withdrawal methods (i.e. PayPal), minimum deposit, login information and tutorial videos. All the important facts a trader needs to know about their broker, plus whether or not IQ Option is a scam – and it is definitely not! For all the details read our review below about the binary options broker IQ Option:
Is IQ Option A Scam?
This binary trading platform is owned and managed by Alta Vista Trading Limited, a holding company based in the Seychelles. Even though they are licensed and regulated by CySec, they have also sought to register with AML in France and the Financial Conduct Authority (FCA) in the UK.
Their brand is well know in the binary trading community even though they were only established in mid 2013, and they are seen as one of the most reliable and innovative brokers in the industry. They have won numerous awards with various industry reviewers and have a solid reputation, thereby disproving any claims that IQ Option is a scam.
In order to maintain user confidence and their reputation, the firm operates transparently, for example:
Demo Account – Running in parallel to the real money account, there are no time restrictions on the demo account. Traders can take as long as they want to improve their skills, and IQ Option have such trust in their own trading platform that they are confident they will retain these traders.
Hedging – IQ Option is very clear about when and how they will hedge their own positions. Traders who are concerned about ‘over the counter’ brokers who only want to see traders lose, are therefore reassured with IQ Option actively managing their risk.
IQ Option Support – Support includes live chat for quick resolution of complaints and are available in a range of languages.
Trading platform
IQ Option developed their own customised trading platform, which has been further enhanced to version 4.0 at the beginning of 2016. It has been modelled after the more advanced platforms used by the spot forex trading industry, and the features and interface may therefore be different to what the majority of binary traders are accustomed to. However, it is undeniably one of the most sophisticated trading platforms in the industry, especially the over the counter brokers.
In addition to the stimulating user interface, traders can change the view of their chart with four different layout options:
- Line
- Candlestick
- Area
- Bar
An impressive 18 different timescale intervals can be selected for the bar and candlestick charts. In addition multiple charts can be used, whereby trends can be confirmed over more than one time frame. Traders can plot their own trends on the live charts with the line drawing tool, one of many useful tools, while numerous technical analysis features have been added after the latest updates.
Traders have the ability to make multiple trades on the same chart, which is a very handy feature, and can be very valuable when employing sophisticated trading techniques such as the ‘Fence’ trading strategy.
IQ Option App
The IQ Option app provides a seamless user experience when moving from the bespoke trading platform to a mobile device. The ‘look and feel’ imitates the website platform and desktop application, and has the same trading areas, screen and buttons. The Android app has been developed specifically for this operating system, and similarly the iOS app has been developed specifically for the iPhone and iPad, ensuring the best performance out of both devices. This is the attention to detail that IQ has become well known for.
An ‘IQ Option for Windows’ version is now available as well, in addition to the Android an iOS versions. The buttons below will take you directly to the relevant App stores, where you can obtain the most up to date version of the IQ Option mobile trading app:
IQ Option Download
IQ Option Demo
Below is the IQ Option demo video, which fully demonstrates all the enhancements after the 2016 platform upgrade. The demo video shows how users can change the trading area according to their own preferences, how to add technical analysis overlays, how to check the same price chart over more than one timeframe and how all of these tools and functionalities can improve the trading results.
Although this is not an A-Z tutorial about using the platform, it does give some insight into the new trading platform and the user experience, demonstrating how different it is compared to other binary options platforms.
Trading Options
Traders can trade in the 4 major asset classes such as commodities, equities, indices and forex. IQ Option consistently add underlying assets to the portfolio, and have even responded to user demand by adding Nintendo after the spike in trading interest generated by the Pokemon Go game release.
IQ’s particular strength is currency pairs as they have some of the more exotic currencies available, which includes TRY, SEK and NOK. Their asset list is also quite comprehensive.
IQ Option previously specialised in short term expiries, but have now even added to the range of expiry times. Many more options are now available, which includes the longer term ‘End of Week’, ‘End of Month’, and the popular ‘End of Day’ expiry. The trading choices available have never been more diverse.
Payouts
The IQ Option payouts offer very competitive rates in regards to return on investment. Traders can earn as much as 91% return on investment, under the right circumstances depending on the expiry time and asset selected. The ‘headline’ payout of 91% is an industry best.
IQ Option Bonus
Deposit match bonuses are no longer available, as per CySec regulations.
Regulation
Because their corporate entity is established in the Seychelles, they are under the jurisdiction of the newly formed Seychelles Financial Services Authority (FSA). That is were the scope of operation lies, however the brand is operated by two different corporate entities from Alta Vista Trading Limited. IQ Option is operated by InfoField Premier Ltd (Reg No: HE324593) and Investlab Holdings Ltd (Reg No: HE327751). (For more detail visit their website.) Traders using the platform are protected under the provision of the MiFID, since Investlab Holdings Ltd is regulated by CySec (License No: 247/14). They are committed to MiFID, as they have also registered with the FCA in the UK and other European bodies.
IQ Option Demo Account
The best demo account terms in the industry are offered by IQ, as their demo account does not require a deposit, there are no time restrictions and the balance can be reset to $1000 as often as is needed.
In addition, this account can be run parallel to a real money account, allowing traders to try out new strategies without risking funds by simply changing into the demo account. It is entirely risk free and is the most flexible account available. The combination of this unique demo account and a low minimum deposit, is a clear indication why this broker has grown so quickly. They are confident that they have the best trading platform, and know they will easily retain traders that have used it.
IQ Option Robot
The newest upheaval is their IQ Option Robot builder which is a new industry standard and has revolutionised the world of automated binary options trading. Automated binary options trading allows both demo and live account holders to not only choose from a library of user generated robots, but also to customise their own robot with the easy building tool. This handy robot building wizard ensures you do not need to know how to write code, as it is very easy to use. This tool is a must-have if you want to automate your own strategy, or trade using top rated robots from other traders.
Bots – Build Your Own
The IQ Option Robot feature is an auto-trading product that has exceeded any other auto trading offering to date. This feature enables automatic trading by allowing members to build their own bots. If you have a well defined strategy utilising the industry standard analysis indicators, you can set up the automated platform, save the file, and allow others to follow it. Should you not want to build your own, you can choose from over 29,000 robots already built. Just note that this is not copy trading as you are not copying other traders, but rather an automated algorithmic trading, provided by a respected broker.
You would require an IQ Option account to use this feature, but the good news is that you can test your own robot using a demo account. Simply click on the Robots Tab once you’re logged in to begin automating your experience. As a first choice you can choose between building your own, or using an existing bot.
Copy Winning Robots
Should you choose to rather use an existing robot, by browsing the catalogue you can select different criteria, including the number of copiers, maximum draw-down, amount of profit both in dollars and as a percentage, the author and a variety of other factors. Hint: Take note of the authors you like who has good robots, and then track any new robots that they write, as this may be the next gem.
However should you prefer to compile your own robot, you can choose to use the Wizard or the Constructor:
The Wizard is simply a step-by-step guide which assists you one step at a time.
The Constructor is more for traders familiar with the system and wishes to write their own bespoke robots without using the Wizard.
For both, algorithms are set up by using a simple drag-and-drop feature and a flow chart. You will be provided with a variety of widely used indicators, specific rules for entry and risk management and the ability to adjust settings in accordance with your own strategy. Adjustable settings are provided for indicators and analysis, which includes RSI, MACD, candlestick/price action, stochastic, moving averages and Bollinger Bands™.
To apply active Risk Management you are provided with 4 methods of controlling the amount used for each trade:
Martingale setting – This increases the trade size very quickly and may become very expensive, as the risk increases exponentially. It is not recommended.
Percent of Balance – A set percentage of your balance on each trade will be used and is a perfect setting for binary options, as good money management is the key to long term success. A recommended method.
Reinvest Profit – With this approach the trade size declines as the profit is reinvested, because the profits on each trade are smaller than the trade amount. This is not the best choice, but also not the riskiest.
Fixed Amount – This does not take advantage of adjusting the trade size to your account to ensure the risk vs reward changes are in line with your balance, but does offer a good level of risk management. This is seen as the second best option.
Are IQ Robots A Scam?
IQ Option have been proven as a reputable brand, and not a scam. To provide the best tools to traders, the IQ Option robot has been created, but there are dangers in using it that traders needs to be aware of. Once the robot has been automated it will run constantly regardless of what is happening in the news or other events. Users must make use of the risk management features which IQ includes – for example limiting the amount invested or stopping the robot after a certain number of losses. This should also be done even when copying a profitable robot.
Countries
IQ Option offers trading in numerous countries, and even provides support in multiple languages. In 2016 it was operating in 178 countries, from only 18 countries in 2014. However due to local regulations and laws, trading in some countries is not possible. For example traders in the USA, Australia or Canada are not yet allowed to open accounts.
The UK is one of the largest trader ‘bases’, as IQ Option started operating mainly in Europe. Other European trading hubs followed, for example Switzerland, Germany and Sweden. Poland and Turkey are other CySec protected nations that are seeing rapid growth.
IQ Option Review – Conclusions
Pros
- High Returns of up to 91%
- Low Minimum Initial Deposit Requirement
- Regulated Broker, Registered with the FCA
- Cutting edge Trading Platform
Cons
- Smaller range of commodities than some rivals.
- IQ Option is the best choice for any person wishing to start using binary options trading. It has a very low minimum deposit amount of only $10, a minimum trade size of just $1, it has user-friendly features and the best demo account available.
- Their trading platform is excellent and with their recent inclusion of the ‘IQ Option Robot Builder’, even veteran traders see them as a solid choice. They are constantly improving their offering, they have the fewest complaints, and they offer a choice of withdrawal and deposit options. They are the leader in binary options and with such rapid growth nothing can stop them.
IQ Option Review Ratings
Customer Service Rating – 10
• 24/7 Live Chat
• Trading platform translated into 13 languages
• Phone support for all supported languages
Trading Choice Rating – 9
• Full range of stocks, Forex and Indices
• Silver, Gold and Oil
Deposit Method Rating – 10
• Credit Cards
• EFT
• Web Wallet (Paypal)
Minimum Deposit Rating – 10
• $10
Minimum Trade Rating – 10
• $1 Minimum
Trading Features Rating – 10
• Industry leading platform
Payout% Rating – 9
• Up to 91%
Site Intangibles Rating – 9
• IQ Option demo videos and training videos
• Regulated
• Free No Deposit Demo account – Unlimited funds, no time restriction
• Real time price feed from Thomson Reuters
• IQ Option VIP account – Larger bonuses, and better trading terms
IQ Option Registration