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IQ Option vs Binance
IQ Option vs Binance
The world of cryptocurrency trading is growing quickly. Many companies which were previously focused on providing other types of trading services have expanded their offer in an effort to get a piece of the crypto pie. Likewise, companies specialised in trading virtual coins have also grown and added new features into the mix. If you’re a trader looking for the best possible business partner, you have a lot of options in front of you, so making the right choice can demand a lot of research. To help you with that, we bring you a direct comparison of two extremely popular cryptocurrency trading websites. In our IQ Option vs Binance clash, you will see what each of these two behemoths can offer you. Keep reading and you will find your perfect trading platform!
IQ Option vs Binance: Trading platforms
We won’t beat around the bush with this article, so let’s get straight to the point. What’s it like to trade on each of these websites? Well, to give you an answer to that, we have to make an IQ Option vs Binance platform comparison, and there’s a lot to digest there.
First of all, we have to say that IQ Option Trading Platform was created by the broker’s own team and that it’s technologically quite advanced and offers a lot of tools with which you can analyse the market in great detail. However, it also has to be said that this platform was not created solely with cryptocurrencies in mind, so you will be able to trade other things, like for example forex, there. We absolutely love the design, and everything runs very smoothly, so the whole package sets a very high standard.
Binance has a great platform too, which works absolutely fine, but in terms of intuitiveness and design, we have to give IQ Option the points here. New traders may be intimidated at first by all those numbers on the screen, and only the advanced version of the platform offers any analytical tools. IQ’s platform looks and feels better, plus it has more options, which is why the broker takes the first part of our IQ Option vs Binance matchup. However, things are far from over.
IQ Option Platform
IQ Option vs Binance: Supported coins
A good platform serves no practical purpose if it doesn’t contain the assets that interest you. This is where Binance strikes back. That is not to say that the number of IQ Option supported coins is low, not by a long shot. IQ Option cryptocurrency trading covers all the most popular currencies, 14 of them to be exact. So, if things like Bitcoin and its forks, Ethereum, Litecoin, Zcash and stuff like that are what you’re looking to invest in, then you’ll be absolutely fine. But Binance takes things to a whole new level.
If you’re someone who has a deeper understanding of the cryptocurrency market and are always looking for a new trading sensation, Binance is the place to be. More than 50 different currencies are listed there, and new ones just keep popping up. This platform is also known for supporting various ICOs which often actually end up listed on Binance’s website. This is how a self-sustaining crypto-environment is formed and why you can hope to find unique opportunities here. Experienced traders will love everything about the offer here, which is this IQ Option vs Binance duel is now tied. We repeat, if you’re looking just to trade the most popular coins, IQ Option is fine, but Binance has so much more depth in terms of its offer. Moving on.
General Risk Warning: The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
IQ Option vs Binance: Finances
Obviously, the financial aspect on trading on these websites cannot be ignored. However, this is where the two companies diverge because they have completely different philosophies in this respect.
With IQ Option crypto, you have to pay a 2.9% fee when opening a position. If you want to withdraw, you can withdraw in OTN, BTC and ETH or simply make a withdrawal to your bank card or e-wallet. Now, when withdrawing in bitcoins, you can expect a fee of 0.05% + 0.001 BTC, whereas for Ethereum you will need to pay 0.0007 ETH. Withdrawing to cards and e-wallets is free. With Binance, on the other hand, you only pay 0.1% per trade, but this can be even lower if you use their BNB tokens for that. Furthermore, withdrawal fee for bitcoins is 0.001 (so, without the 0.05% that IQ Option charges), but the fee for withdrawing in ETH is 0.01, which is significantly higher than IQ’s. We won’t go into other fees because Binance charges a different amount for each of the cryptocurrencies there, so check things out for yourself on the platform’s fees page if you need more info. We took these numbers only because they allowed us a direct comparison.
But where’s the divergence we mentioned earlier, you may ask. Well, the thing is that you can only deposit with fiat currencies if you opt to trade with IQ Option, while Binance only accepts cryptocurrencies. So, convenience will also play a significant role when making your choice. No matter which one you choose, though, you can’t go wrong.
It is important to have a good partner if you want to be successful at cryptocurrency trading, and in this IQ Option vs Binance comparison we bring you two of the very best. Each has a lot to offer, so your trading preferences will have a big role to play, but you really don’t have to worry about making your choice. If you’re a more experienced trader and know all the intricacies of this market, Binance may be more suited to your need due to its longer list of available currencies. Less experienced traders will probably go with IQ Option, primarily because it has a more intuitive platform. Do not forget, however, that you can only use fiat currencies to deposit with IQ Option, while Binance only accepts virtual currencies. See what you need more and make your choice. Either way, you’ll love what these companies offer.
General Risk Warning: The financial services provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
DISCLAIMER: Binary options are prohibited in EEA.
Last Year Was Tough, But We Will Kick Off 2020 With a Bang – Says Binance CEO
The last year 2020 has been a tough year for cryptocurrencies. Valuations are down 80% (and even more) and critics are claiming that a funeral is coming soon. However, not everyone has the same feelings. Presidents of many large concerns, both within and without the crypto universe, have spoken out about the long-term viability of cryptocurrencies and the innovative benefits of blockchain technology.
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The opinion of Zhaoa
One of the optimists is also Changpeng Zhaoa (known in the community under the nickname CZ) CEO of Binance, In a recent interview for Bloomberg, Zhaoa expressed his confidence in the industry and dispersed all worries going forward. Zhao is the founder and CEO of Binance, a fiat currency exchange that, by volume, is the world’s largest crypto-exchange. The 24-hour trading volume within Binance recently stood at USD 1.1 billion.
Zhao also has his entire investment portfolio in crypto-assets, valued at over $2 billion earlier this year. He has neither strayed from his path, nor does he regret any losses he has suffered. He has been in the cryptocurrency business for the long haul, which he claims will be bright and prosperous in the future.
The last two years have witnessed the entry of both futures trading, along with traditional investors jumping over one another into the crypto space, which gave birth to the term “FOMO” (Fear (Of Missing Out). Zhao thinks more long-term:
„I think people in the industry are still very confident about the future. So, there are no worries about that. There will always be speculation, which will cause the price to fluctuate… Last year, it fluctuated upwards too much, and now we are in a correction phase. But the long-term industry is sustained by real applications and real use cases of cryptocurrency, and a lot of people are building. So, that’s happening regardless where the price moves“
During the Bloomberg interview for Bloomberg, he also made these points:
- None of our plans changed. We are still pushing forward, very aggressively.
- Binance will roll out ten more fiat-crypto exchanges as well as the company’s first decentralized exchange.
- Binance welcomes regulatory involvement within the cryptocurrency space from all governments around the world, as long as there is sufficient clarity to combat the present uncertainty.
In CZ’s opinion, good and sensible regulations will promote rather than be an obstacle for further innovation.
“2020 has been a tough year in terms of cryptocurrency prices. And we will se a lot of projects not doing good it this year, so it’s a correction year. But technology will stay, and we want to kick off 2020 with a bang.”
Zhao is not the only CEO of exchange to speak out about the bright potential of cryptocurrencies. His words are reminiscent of those of Brian Armstrong, president, and co-founder of Coinbase. Last June, Armstrong said to his staff: “I want to encourage you all to ignore the price of crypto and the headlines which will inevitably start to come up. Our job is to rise above that, finding our own intrinsic source of motivation, to come in and do our best work, regardless of what other people think.”
More about the author J. Pro
Unlike Stephen (the other author) I have been thinking mainly about online business lately. I wasn’t very successfull with dropshipping on Amazon and other ways of making money online, and I’d only earn a few hundreds of dollars in years. But then binary options caught my attention with it’s simplicity. Now I’m glad it did because it really is worth it. More posts by this author
IQ Option Review
Cryptocurrencies are in the recent times enjoying an increase in popularity amongst several business partners as people are now selling great items in almost every domain. However, the fact that differentiates cryptocurrency from other forms of trading or currencies is that it tends to be encrypted. The encryption of the digital currencies tends to lock the overall process that is involved in the conducting of both the financial transactions as well as the generations of the same.
In the present scenario, the cryptocurrencies have crossed the limit of $100 billion. This fact itself accentuates the reality that this aspect is no longer limited to the realms of the IT professionals. Cryptocurrency trading is gradually becoming a famous alternative of earning higher profits and substantial money on the online platform. As such, amongst all the available cryptocurrencies, bitcoin is one of the most famous cryptocurrencies. This has been in the trading markets since the time of 2009.
There are several traders across the world observe that cryptocurrency trading as one of the most lucrative methods of doing trading on the online platform. BTC is regarded as one of the most successful channels of doing cryptocurrency trading. Owing to this fact, there are several online trading platforms that offer the ease of doing BTC trading that suit the individual requirements of every trader.
In this article, we will be unfolding the complete details of one such BTC or cryptocurrency trading platform – IQ Option. If you are eager to know more about this one, then read this detailed review of the same.
IQ Option Introduction
In the current trading industry, IQ Option has emerged to be one of the leading alternatives out there when it comes to doing successful cryptocurrency trading. IQ Option is one of the simplest and highly user-friendly cryptocurrency trading platforms that aims to offer its high-end trading services to the traders of all trading levels. Being one of the most popular options out there, this trading platform is equipped with some of the most advanced charting options. In addition to this, there is also the presence of some of the most lucrative financial assets, a highly reliable trading environment, several helpful trading instruments & tools, and so more – all under one roof with this trading platform. The regulatory status of the IQ Option trading platform along with its popularity plays a significant role in the continued fame of the trading broker amongst the available categories of the traders who are present in the trading scenario.
IQ Option Overview
IQ Option is a Europe-based specified cryptocurrency trading platform. This is a highly legitimate trading broker that focuses its concentration on offering a wide array of cryptocurrency trading options & products to the traders out there. You can find the traders from all over the world on this trading platform. IQ Option tends to be a highly reliable and verified trading company that has always prominently featured itself in the trading markets. This is because of the vast exposure of the trading platform in the trading market and its immense market penetration. There are several trading companies and firms that tend to replicate the successful trading strategies of IQ Option. However, IQ Options still remains at the top as it keeps innovating and evolving to keep itself abreast of the ongoing market changes and the ever-changing needs of the global traders.
The IQ Option trading company operates its transactions & activities from Limassol, Cyprus. This is a European country and forms a fundamental layer in the EU (European Union) & in the European Economic Area Agreement. Cyprus serves as a home to several leading & major financial companies in the world, especially in the market of cryptocurrency trading. This place is particularly famous for the presence of the some of the most popular companies that deal in CFD brokers and Forex trading markets. All the financial organizations that are currently operating from Cyprus need to be regulated under the CySEC (Cyprus Securities & Exchange Commission). This trading fundamental derives its operational framework and policies from the EU (European Union) markets under the MiFID (Markets in Financial Instruments Derivatives).
Though IQ Option might be operating primarily from its headquarters located in Cyprus, this famous trading broker has also set up multiple satellite offices across different regions of the world. You can find a registered office of IQ Option is some of the leading trading locations across the world. This fact proves the reliability and legitimacy aspects of the IQ Option trading platform. One of the chief offices of IQ Option is also located in Seychelles. Seychelles happens to be a tax haven for most of the leading organizations in the world. This place offers highly lucrative investment opportunities to the leading financial companies across the world like the famous cryptocurrency & binary options trading companies. However, it must be noted that the regulation imposed by EU (European Union) is highly sufficient to ensure the verification of the authenticity of the given trading platform.
IQ Option trading platform is currently owned by the IQ Option Company Group. This company goes by the official name as “IQ Option Europe” that is present on the European continent. The IQ Option trading company had been established in the year 2020. Since then, the company has risen up rapidly to become one of the most trusted trading portals present out there. In the recent global estimates of the year 2020, this trading company has received over 14 million new trading accounts. In addition to this, the company has also proved highly successful in making profitable financial transactions of around $11 billion in terms of volume on a monthly basis when taken on average in the year 2020. The trading company also claims to be processing over 3 million trading orders on a daily basis. This number sounds to be a reasonable value owing to the fact that there exists more than 14 million live accounts with this trading platform in the current scenario.
IQ Option has marked its presence in over 178 countries of the world. In addition to this, the trading company has also received several awards & recognition owing to its high reliability and excellent trading services. The company went on to receive the “Best Binary Options Broker” award in the recent times. In addition to this, the trading firm also received the highly prestigious “Best Binary Options Platform” award. These awards have been presented to this trading platform at multiple award functions. IQ Option has received over 12 distinct & highly reputable awards in the field of trading. It also has a record of several reputed recognitions to its brand name. As such, IQ Option has become one of the most highly awarded trading platforms out there that has ever been presented. Owing to this fact, you can be assured of the reliability and legitimacy of this high-end trading platform.
Overview of Tradable Assets & Financial Trading Instruments of IQ Option
It was in the recent times that IQ Option has announced its major decision of increasing the total number of the available financial instruments & tools for the effectiveness of trading by the global traders. In the present scenario, the trading platform is offering up to 70 unique financial assets in total. However, the trading company also makes its plans to extend the overall count of the trading financial assets. This will be done from the individual financial trading markets to taking the existing number beyond the mark of 10 million. IQ Option also extends its proposal of including up to 7845 stocks, 188 Forex pairs, 4288 ETFs, and many others in the upcoming times. In addition to these assets, the company also aims to be offering multiple indices, stocks, commodities, and various other options for the ease of trading by the global traders.
Here are some of the most famous and widely traded financial assets that can be found on IQ Option at the present time:
- CRYPTO CURENCIES: At IQ Option you can trade all the major crytocurrencies like Bitcoin (BTC) and Etherum (ETH). IQ Option is one of the early adpoters in cryptocurrency trading.
- Stocks: The available list of stocks with IQ Option trading platform include Twitter, Yandex, Alibaba, Apple, Baidu, Facebook, Cisco Systems, Google, Microsoft, Oath, Intel, Snap Inc., AIG, Tesla, Amazon, Nintendo, Goldman Sachs, CitiGroup, Coca Cola, McDonalds, JP Morgan Chase, Nike, Morgan Stanley. The traders have the freedom to choose from a wide variety of the available stocks with IQ Option to maximize their overall profits with this trading platform.
- Commodities: Silver & Gold. The traders can choose anyone out of these to do trading with IQ Option.
- Indices: IQ Option also offers a wide array of lucrative indices for the overall profits of the traders. Some of these include DFMGI (Dubai), Bitcoin, Hang Seng, TelAviv-25, ETHBTC, IOTUSD, XRPUSD, BTCUSD, LTCUSD, DSHUSD, ETHUSD, LTCBTC.
This can serve as a great news for the traders that this trading broker has also made a decision to increase the overall market exposure in the recent times. This will be achieved by the addition of several new assets and new trading markets in the given trading platform. This will eventually be of great benefits to the larger group of traders & investors who would be willing to earn higher profits with IQ Option. IQ Option trading platform serves to be relentless towards improving its current efforts in maximizing the credibility in the trading markets. This serves to be a healthy sign for the traders out there as IQ Option is entirely dedicated towards the refinement of its high-end trading services as well as products that it will be offering to the available traders.
IQ Option Trading Platform Fees, ROI Analysis & Payouts
When you start trading with IQ Option, you can be convinced of all the reliable methods & strategies of trading. There is no circumstance under which the traders or the clients of IQ Option would need to pay any kind of cost or additional fees for doing trading with this trading platform. This is highly unlike the various other CFD or Forex trading portals that usually charge a certain amount of fees while asking the traders to begin their trading activities. IQ Options also offers a high-end trading service that involves only two participants of the trading markets. The trading broker provides a lucrative option to the clients or the traders which allows them to put or call some option with a predefined expiry time. In the end, it will be up to the particular trader to consider investing in the trading market or to refrain oneself from doing trading. Once the particular trader has made the decision to put some investment in the given trading market, then there could be two possible results: lose or gain of money. As such, the totally free of cost concept of IQ Option serves as a great add-on on its list of lucrative trading products & services.
The trading platform also offers a great number of assets and options to the traders out there. This allows the traders to do effective trading in any trading market of their choice. Even the payouts of the trading tend to be different as per the trading market and the market condition. IQ Option is known for offering a maximum value of the ROI at around 92 percent on particular trading instruments. However, on the overall basis, the payouts offered by this trading platform usually come to around 65 percent to around 90 percent on an average basis.
The minimum deposit amount with this trading platform is $1. This happens to be the least-ever value offered by any cryptocurrency trading platform in the trading industry. Similarly, the traders are allowed to invest a maximum investment of $5000 as per their trading needs and requirements. The maximum limit of investing money in this trading platform that is $5000 might seem a bit high. However, one can analyze the difference in profits after investing this amount in the trading platform.
IQ Option Trading Platforms & Trading Conditions
The trading conditions offered by IQ Option are not completely different from what are offered by most of the trading brokers out there. For example, IQ Option tends to follow the traditional low/high trading concept on a general basis. This trading concept is usually divided into Turbo as well as regular trading options. In addition to this, you might not find many trading products or trading options with IQ Option while doing trading. Even after these shortcomings, IQ Option aims to offer a complete diverse range of alternatives & trading services which are aimed at increasing the overall flexibility of dong trading with this trading platform. It offers a wide collection of trading tools & instruments to the traders. As such, this trading platform becomes one of the topmost choices of the traders when it comes to earning maximum profits.
To make it highly simpler for the traders, IQ Option has also developed and designed a completely user-friendly cryptocurrency trading platform or software that can be downloaded & installed on the systems of the traders. This functionality also aims to offer a complete range of highly customizable options for the traders as they do effective trading. The trading interface of IQ Option is available for multiple devices and systems like iOS, Android, Mac, Windows, Linux, and so more. The trading platform offers both desktop as well as smartphone trading interfaces for the ease of use by the global traders. As such, this trading platform aims to cover the entire trading market in a successful manner. The primary aim of this trading company is to offer highly convenient trading options & solutions to the traders who happen to be on the move always.
The trading solutions offered by IQ Option for the desktop users include various high-end trading options like customized trading dashboard, advanced individual charting options, a complete suite of high-tech trading tools & instruments and so more. These instruments & tools are aimed at helping the traders in making the best utilization of the various kinds of available trading resources in the trading market. The IQ Option trading platform is famous for offering a complete premium feel to the global traders. Therefore, it is one of the most technical & advanced trading platforms that might be available I the trading market in the current time.
IQ Option Mobile Apps
The main disadvantage of most of the desktop-based trading platforms is that these need to be used only through the desktop system using some reliable Internet connection. Normally, most of the common trading platforms offer only web-based trading solutions to their traders. However, IQ Option aims to differ from the rest in this aspect as well. It aims to offer high-end mobile trading solutions in addition to the desktop-based trading alternatives. In case a particular trader is not able to access the desktop system or does not have reliable Internet connection on the desktop, then he or she can trade effectively through the mobile application that is offered by IQ Option. Now the smartphone as well as the tablet users are able to access the IQ Option trading platform on their individual devices with much ease.
IQ Option mobile trading is one such unique feature offered by this trading platform that aims to facilitate effective trading through the dedicated apps that are specifically meant for the mobile devices. These apps are individually developed for the systems like iOS and Android. These apps can be downloaded on the individual device that supports the same. Using the apps, the traders can do successful trading with IQ Option from anywhere & anytime.
IQ Options understands the importance of mobile trading in the currently high-tech world. This is the reason why the company went on to launch the excellent mobile trading services with the help of highly user-friendly mobile apps that offer the ease of comprehensive access to trading market.
IQ Option Trading Prerequisites
IQ Option aims to cater to the basic requirements of the traders by analyzing their individual needs in a perfect manner. On a general basis, the IQ Option trading platform might require the traders to make an initial deposit of around $100 to $500 on the basis of one’s trading requirements. This is expected in case the trader is willing to chip in some good amounts in order to earn higher profits. However, on the other hand, the IQ Option trading platform also allows for the minimum deposit of $1 which is the least value available there.
The trading broker has also mentioned its minimum withdrawal amount to be as low as $2. This is least amount of money that you will be able to withdraw from any trading platform out there. For supporting such low amounts of payment options, the trading platform allows the traders to deposit as well as withdraw the same using various online payment methods. These might include the famous methods like PayPal, Neteller, WebMoney, Skrill, and so more. The traders are also given the option to make the required depositing of the amount using their individual MasterCard or Visa debit & credit cards.
In the current scenario of effective cryptocurrency trading, IQ Option is one of the most famous and reliable alternatives out there. There is nothing fishy or fraudulent that you can find with this trading platform. Having a massive client base, the trading portal is winning hearts of the global traders with its high-end trading services and high-tech trading tools & instruments. The number of positive aspects tends to outnumber the negative aspects of this trading platform. Therefore, if you are considering higher profits in cryptocurrency trading, then IQ Option is one of the most reliable trading solutions for you. Have a great time trading with IQ Option.
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Binance bills itself as the ‘world’s leading cryptocurrency exchange’ and certainly based on volume of trades it is hard to argue against this professional looking platform. The company was recently rocked by a major hacking operation which stole around $40 million worth of Bitcoin, but seems to have rallied impressively since then.
The company was founded in China but recently moved to the island of Malta in Europe, and from their runs its very profitable and popular cryptocurrency exchange. Boasting more than 100 cryptocurrencies for exchange and very competitive rates, it is no surprise to see that this platform has been head and shoulders above the competition.
Facts & Figures
- Name: Binance Exchange
- Year Founded: 2020
- HQ: Malta
- CEO: Changpeng Zhao
- Fees: Deposits – No; Withdrawals – Yes
- Deposit options: Cryptocurrency, Payeer, Perfect Money and Yandex Money
How To Trade
Investors can create a free account with Binance by clicking the ‘Register’ button and entering personal information such as name and address. The next phase will be to make a deposit to the customer Binance account. Customers do this via the wallet section of their accounts and must use one of the available cryptocurrencies rather than a standard FIAT currency. To trade, investors simply log in, choose the currency market (eg Bitcoin Market) and search for the product they wish to buy or sell.
This platform allows users to take advantage of the stop-limit function, which allows for automatic buying or selling of the cryptocurrency once a selected price limit is reached. Margin trading on Binance is done using funds loaned by other traders, who will earn interest on their loans. This enables traders to use larger amounts to leverage their trades. When it comes to withdrawing funds, traders should use the same method and cryptocurrency that they deposited with.
Promotions And Loyalty Programme
This broker offers its own coin for use in trading, called the Binance Coin (BNB). By using this coin to trade, customers will receive a 25% discount on trading fees. The coin is available to use in numerous cryptocurrency pairs and so is a worthwhile investment for regular users of this site. According to Binance ‘It pays to have friends!’ and this is certainly the case when it comes to their Referral Program.
Invite a friend to join the site using a referral code and receive up to 40% commission in real time once they start trading with Binance. The level of commission will be 20% initially, but this rises to 40% on accounts with at least 500BNB. There is no limit on the number of friends who can be invited, and the commission applies to all of their trades. The VIP program in operation at Binance runs from level 0 to 8 and depending on the BNB volume held by the trader, further discounts will be applied.
The Binance Academy is the place to go for in-depth information on all things related to trading. This Academy is a fantastic resource, which aims to educate everybody – from first-time traders to veterans. The free courses on offer allow customers to learn about the world blockchain and cryptocurrency in their own time.
The Binance Beginners Guide is a series of nine videos, taking newbies through the trading process from start to finish. Further video guides include a Margin Trading Guide, What is PGP?, What are Perpetual Futures Contracts and many, many more. The range and volume of tutorials available at Binance is extremely impressive and they provide extremely valuable information to traders. Besides these videos, the FAQ and Glossary will provide the answers to a lot of questions.
According to the site, ‘Binance Research provides professional, data-driven insights and analysis for investors in the crypto space.’ Project and Market Research combine to offer a greater comprehension of the cryptocurrency trading industry.
Binance promise to provide unique strategy details to assist their customer base, using their proprietary data to provide accurate usage and adoption metrics. Investors won’t need to look any further to find the latest in-depth research on all that is new in the world of blockchain and cryptocurrency.
Binance users have a wide range of cryptocurrency options to choose from, with new ones being added all of the time. Those cryptocurrencies include – but are not limited to – Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, EOS, Dash, LiteCoin, NEO, GAS, Zcash, Dash and Ripple. In fact the list of available cryptocurrencies is far, far too large to include here, but it will certainly satisfy even the most demanding of traders. Binance offer a range of trading options that is hard to match, which combined with its low-cost trades is why it has become a leading force in the industry.
Security is a vital aspect of any cryptocurrency exchange, none more so that at Binance, given that a ‘large scale security breach’ in May 2020 resulted in around $40 million worth of Bitcoin being stolen by hackers. The security features of this site have been upgraded since then to avoid a recurrence of this type of crime, and they have vowed to compensate any clients who lost money from the previous hack.
Binance protect client assets using a multi-tier & multi-cluster system architecture. Their SAFU (Secure Assets Fund for Users) guarantees that customer funds are held securely. Trust Wallet is the official cryptocurrency wallet used by Binance, and this wallet keeps the customer’s private key stored locally and protected with many layers of security.
Binance charges a commission of just 0.1% on every trade that a user makes, which is one of the lowest fees to be found anywhere in the cryptocurrency trading industry. What’s more, this will be reduced by 25% if traders elect to use Binance Coin as their currency of choice, making Binance an even better-value trading platform. Deposits are free, but there will be a fee imposed on withdrawals, which varies according to the cryptocurrency being used. Check the Binance ‘Fees’ page for full details and to find the best deals.
Live chat customer support is a feature of many online trading sites, and luckily this option is now on offer from Binance. Choose your language – English, Chinese or Russian – and a customer support operator will help you with your query. A lot of questions can be answered in the FAQ section of the site, without having to get in touch with the support team. Should traders wish to receive more personalised advice, then they can address queries to the customer support staff via the ‘Submit a Request’ link, where an email can be requested. Response times are generally fast and the support team are efficient and well trained.
By reaching the end of this article, you will probably have become convinced by Binance’s claim to be the world’s best cryptocurrency trading site. The volume of cryptocurrencies on offer combined with low fees, fantastic resources and a beautiful website make this platform second to none right now. Sign up for free to find out why so many people rank Binance as the best in the business.
Beginner’s Guide to IQ Option: Complete Review
IQ Option is an online trading platform that enables customers to trade a variety of financial instruments and assets such as Binary Options, Stocks, Forex and of course Cryptocurrencies.
Founded in 2020 and operated by IQ Option Ltd, the site has quickly became one of fastest growing online trading platforms and claims to have over 20 million account holders from around the world.
IQ Option is also based in Cyprus and regulated in the EU by the Cyprus Securities and Exchange Commission (CySec), the company is fully compliant with the legislation put forward by the commission and fully authorized to sell their products to clients in a number of jurisdictions.
Risk Warning: Your capital might be at risk.
Take a look below as we walk you through the site and offer our full review of the service.
IQ Option at a Glance
|Minium Initial Deposit
|Asset Coverage||CFDs, ETFs, Forex, Cryptocurrency, Stocks, Indices, Commodities|
|Leverage||30:1 Retail Traders, 1000:1 Professional Traders|
|Trading Platforms||Proprietary Web, Mobile App|
What it Offers
IQ Option is a comprehensive trading platform that provides its users with a wealth of alternatives, and after starting out as a binary options broker, IQ Option now allows customers to trade Contracts for Difference (CFDs) on stocks, Cryptocurrencies, Exchange Traded Funds (ETFs), Forex, and a range of various digital options.
- CFD on Stocks – IQ Option allows users to trade CFDs on stocks from over 176 different companies, including the most successful businesses listed on the NASDAQ and NYSE.
- Cryptocurrencies – Users can also trade 12 of the top cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, Monero, Zcash, Omisego, IOTA, and Dash.
- ETFs – EFT trading is a relatively new product, and ETFs work by tracking commodities, indices and baskets of assets. These can be traded in the same way as common stocks, and traders can choose from approximately 4288 different ETFs.
- Forex –FX trading, or Forex, is an extremely popular trading market and IQ Option provides access to around 188 currency trading pairs. This allows users to trade their favourite foreign currencies with ease.
- Options – Users can speculate on the price of a number of different assets, which include currencies, stocks, indices and commodities. The platform currently provides a gateway to over 10 million options.
IQ Option Demo Account
Like many competitors, IQ Option offers a demo account. However, IQ Option’s demo account stands out. This is because there is no limit on how long you can use the demo account. That allows you to get truly comfortable with your trading techniques. It also allows you to test new trading strategies in the future.
The IQ Option demo account includes $10,000 in virtual funds. If you use all of those virtual funds, you can easily have the amount replenished, allowing you to continue practicing your trading techniques.
Another standout element of the demo account is the fact that you do not need to provide personal information before using it. This is not always the case with competitors. The lack of personal information required for a demo account helps potential clients protect their privacy.
IQ Option Real Accounts
IQ Option requires a low minimum deposit and new traders can start off by just depositing $10 in order to gain access to a live account, there are currently two trading account options:
- Real Account. This can be accessed with the $10 minimum investment and there are no restrictions on trading functionality. This account provides access to over 70 assets and users can request withdrawals that are processed within 24 hours. Real account holders can also take part in various trading competitions held on the platform ( customers outside of the EU ).
- VIP Account. – This is available to Traders who:
- Make a deposit of $1900 or an equivalent amount in other currencies, or Have a trading volume of $15000 “IQ Option Ltd. provides VIP status for traders from non-EEA countries”
- In addition to the features found on the real account, the VIP account also includes a personal manager who is always ready to assist traders with any queries and issues. The VIP account also comes with a monthly report on user trading records, which is performed by the platform’s analysts and gives customers valuable feedback on their performance.
IQ Option Signup
The best way to get started is to sign up via Facebook, Google, or to simply create an account by using an email address. After inputting your details and creating a password you can proceed.
When this is done you can immediately use your practice account or top up your real account before moving on to live trading. A pop-up will notify you of the creation of both your practice account and real account.
IQ Option has developed its own proprietary platform and this makes navigating the site an enjoyable experience. The platform has been generally well designed with an intuitive approach and it’s quite easy to locate all the various tools and features. The free demo account also provides users with the possibility to trade with all of the underlying assets. As a result, there are a variety of options regarding types of trades and users can quickly switch between their preferred assets. The platform also offers a range of charting tools such as Bollinger bands and moving averages which all help enhance trading capabilities.
IQ Option Deposits
With IQ Option, there is a minimum deposit of 10 USD/GBP/EUR. You can select your preferred form of deposit, and IQ Option does not charge any fees for depositing funds.
To make your first deposit, you will need to go through the account verification process which in the EU involves adding your phone, personal information, adding your trading experience and uploading photo identification. Different countries will have different requirements and also will need verification to make withdrawals from the site.
IQ Option offers its customers a number of ways to make deposits and withdrawals to and from their trading accounts. Users can currently use debit services such as Maestro and Visa Electron, or credit cards like Visa and Master Card. Customers can also use a host of payments processors such as Skrill, WebMoney, Cash U, Neteller and Moneybookers.
There is also the option to process payments via Wire Transfer and the current minimum withdrawal amount is $2, while the estimated time to withdraw funds is 1 business day. Your bank may charge fees for this process.
As of the time of writing, IQ Option still does not allow for deposits via PayPal. However, the platform is working to make this an option.
IQ Option Withdrawals
When it comes time to withdraw funds from your IQ Option account, the method used will vary based on the deposit method. In the case of deposits via a credit or debit card, you must withdraw the initial deposit amount onto the card. Since this transaction gets processed as a refund, you can only withdraw up to this amount to your credit or debit card, including deposits made within the past 90 days. Any profit that is over this amount will need to be withdrawn via a bank transfer or your chosen e-wallet.
The e-wallet options for withdrawals are identical to those for deposits, including Skrill, WebMoney, and Neteller. Alternatively, you can withdraw those profits via a bank transfer. Keep in mind that opting for a bank transfer does come with a fee of $31. In the case of deposits made via an e-wallet, you must withdraw the funds to your same e-wallet account.
Regardless of your withdrawal method, IQ Option will process your request within three business days. Bank cards and payment providers may require additional processing time.
Keep in mind that before you can withdraw funds from your IQ Option account, you must verify your account by submitting identification documents. This involves uploading:
- A photo ID, such as a driver’s license or passport
- In the case of a deposit made via a bank card, you must also upload an image of both sides of every card used. Hide the CVV number and the middle digits of your card number. Keep the first six and final four digits visible. This is for your own security.
How to Trade on IQ Option
Trading on IQ Option is relatively intuitive and the trading platform is very well designed. You will see the chart is in the center with buy and sell boxes to the right hand side. Your balance is displayed at the top along with any assets you are currently trading.
You can use the drop down located at the top left of the chart area to choose which instrument to trade. The drop down contains FX Options, Forex, Stocks, Crypto, Commodities, Indices and ETFs and from that you can then select or search for your chosen asset.
You trade right from the Web Trader’s interface. To the right of the graph for your chosen asset, you will see options to buy and sell. You simply fill out the amount of the asset you wish to purchase and submit your order.
You can also place an order easily via the mobile application, and the overall setup is very similar. To the right of your chart, you will see the same options, with the ability to adjust investment, leverage, and price and then select buy or sell. For clarity, this section of the trading platform will also display the spread.
Users can also easily search for their favorite cryptocurrencies and analyze all of the most relevant and up to date information. In addition to offering Bitcoin and Ethereum, IQ Option also offers at least 10 other cryptocurrencies to trade. These include Dash, Ethereum Classic, IOTA, Ripple, Litecoin, and Monero.
Risk Warning: Your capital might be at risk.
The interface also provides easy to find links to chats, trading history, and customer support, and in the event of any issues, users can quickly open up a dialogue with the support team. Another standout feature is the resources section that provides access to training and education materials. A number of short training videos are integrated into the site and traders can access these resources without having to leave their training accounts.
The demo version of trading platform is also the same as the live version, and traders can improve their skills by using the $10000 of virtual funds that come with the practice account. Even if things go badly, these funds can be replenished, giving traders a consistent pool of funds to practice with.
Order Types & Stop Loss Tools
As is expected of modern trading platforms, IQ Option gives traders a range of order types to reduce risk and customize the trading experience. The variety of order choices lets traders create strategies that are short-, medium-, or long-term and featuring a variable return. Multipliers let traders increase the risk level for an investment with a corresponding increase on the return.
Stop loss orders let traders set maximum losses that they will accept, automatically closing the trade if it is triggered. Take profits do the same thing but when the trade reaches the profit you specify. A trailing stop will lead to dynamic operation of an auto-close at loss, moving with the price in the direction the trader indicates. Purchase at preorders lets traders set a price at which enter the market.
To supplement the order types, IQ Option offers a range of tools for setting stops and take profits. While most brokers just let you select the asset price, IQ Option lets you set the take profit or stop loss at either a percentage, numerous loss, or specific asset price. There is also the choice to apply the dynamic stop loss or trailing stop and the ability to use the balance to keep a position open if it exceeds the stop loss.
There are numerous order types available with IQ Option, with the specific types of order available varying by asset.
- Multiplier orders allow you to increase the return on investment and your level of risk via a coefficient. This is a popular tool among advanced traders, but it should only be used by those with experience due to the increased risk. When used properly, it can dramatically increase potential profits.
- Stop loss orders let you set maximum losses that you will accept. When this type of order gets triggered, it automatically closes the trade to minimize your losses.
- Take profit orders are almost the opposite of a stop loss order. You indicate the amount of profit you want to reach, and the order automatically closes when it reaches this point.
- Trailing stop orders build on the idea of a stop loss by dynamically using auto-close at stop. A trailing stop order will move with the changes in price in the direction that you indicate.
- Finally, a purchase at or pre-order lets you choose the price at which you want to enter the market. When the market reaches this point, the trade will automatically be executed.
To ensure traders can get the most from the IQ Option trading platform, the broker offers a long list of charting tools that can provide insights and help clients craft their trading strategies.
Candle charts are among the most popular for IQ Option traders. These candles indicate a period of time, with solid colors indicating volatility during the given period and points marked for the price at both the beginning and the end of the given period.
Hollow candles are similar. However, instead of always using solid colors, the positive candles are hollow and the negative candles are solid.
IQ Option also offers area charts that show the price in the form of a line, complete with shading for the area underneath. Line charts are similar, but the area underneath the line is not shaded.
Finally, bars, like candle charts, cover a period of time you specify. They indicate the prices at the beginning and end of the period but do so with vertical lines. There are complementary horizontal lines that display the prices at open and close.
With the indicators on IQ Option, you can spot trends and better identify potential trades that will lead to profit. IQ Option offers 13 indicators that are available via the charting interface.
Many can be used independently or together to maximize your results and insights.
- Moving Averages (MAs) include Simple Moving Averages, Weighted Moving Averages, Smooth Simple Moving Averages, and Exponential Moving Averages. These can help provide insights into current trends and can be used with other indicators.
- The Moving Average Convergence Divergence (MACD) shows where moving averages converge and diverge, essentially visualizing the ratio between two Exponential Moving Averages (EMAs).
- The Parabolic SAR has a similar purpose to moving averages. However, the position changes based on the price and it moves in conjunction with higher acceleration. It shows up in a group of small dots.
- The Awesome Oscillator indicates a visualized ratio of two SMAs (Simple Moving Averages), with one fast and one slow. The indicator helps show new trends’ development and completion.
- Bollinger Bands are trend indicators showing a dynamic range for price movement.
- Volume Indicators show the quantities of your chosen asset that were bought and sold within a given period, indicating interest.
- The Alligator Indicator helps you assess market movement in terms of direction and assists with filtering Side Bands (no-trend periods). Overall, this indicator helps traders find emerging trends, and it is cross-functional.
- The Relative Strength Index (RSI) helps figure out a current trend’s strength, as well as potential reversal points. It compares asset price growth (absolute) with the total price reduction, showing it via a curve.
- The Stoch or Stochastic Oscillator indicators show a price’s current position in comparison to the extremes from your selected period. This is shown as a percentage and helps you determine likely reversal points.
- The Average True Range (ATR) displays a trading asset’s current volatility within your chosen period and determines the change rate of quotes.
- The Average Directional Movement Index (ADX) shows a trend’s strength before the price movement begins. It can also indicate potential market volatility changes.
- A fractal is a series that includes a minimum of five Japanese candlesticks, showing the local maxima and minima of price curves as well as market reversal points.
- Finally, the Commodity Channel Index (CCI) measures the speed associated with price movements. It helps traders determine upcoming market reversals and can detect extrema or assess a trend’s strength.
IQ Option places a good amount of focus on its users and the platform enables customers to trade with confidence by incorporating a number of features that greatly enhance the overall trading experience. These include:
IQ Option offers a mobile web trading solution in addition to a specific mobile application, which gives users greater flexibility regarding mobile trading options. The app has a clean, intuitive graphical interface and is easy to use; it also has most of the charting options found on the standard platform. The app also provides push notifications, and users can set key trading levels which result in alerts any time these levels are breached. The app works on tablets as well as smart phones and the platform is available to both Android and Apple iOS device holders.
If you are outside the EU, then Customers are provided with the chance to test their skills against other traders via a number of Binary Option tournaments. These frequent tournaments are usually around 30 minutes in length and require a small entry fee. After signing up, users are given $10k in virtual funds and at the end of the competition; the trader with the highest returns wins a prize.
The prize can be fixed or be related to the number of people who entered the tournament, and at best allows the winner to receive a payment of up to 100x the entry fee. If users deplete their virtual funds, they can buy in again and continue to take part in further tournaments. This provides users with an interactive way to test their trading capabilities as well as pick up new trading techniques.
As always, please note it is possible to lose your entry fees when taking part in competitions.
Education and Training Resources
IQ Option also makes a wealth of data available for all its users, and the site incorporates training resources that can benefit both newer and more experienced traders. These include various trading videos, as well as webinars and tutorials. Users also have access to a number of e-books and an FAQ section that covers the most common questions. These training materials provide valuable information to for traders of different abilities and experience.
IQ Option Affiliate Program
IQ Option offers an affiliate program for those who want to supplement their income by encouraging others to sign up to use the platform. When you become an affiliate, you simply share your affiliate link, whether this is on a website, blog, or somewhere else. From there, a user will click the ad or link. When they sign up, it will be associated with your unique ID.
Your rewards arrive when the users you encourage to sign up start trading on IQ Option. Based on the trading activity of the client, you can earn as much as 70 percent of the broker’s profit. This continues for life, allowing for passive income opportunities. The earnings are paid out two times every month, and you can choose your preferred payment method. To date, IQ Option has 115,410 affiliates in 178 countries. On the day of writing, IQ Option affiliates had already earned $35,015.50 just that day alone. You can view up-to-date figures on the countries, customers, affiliates, and amount earned by affiliates for the day on the IQ Option affiliate page.
The IQ Option affiliate program does not allow for a negative balance, as there are no deductions from your profit, only profits. There is also cross-platform support with options for mobile and web, multilanguage support, and universal links. The program even provides analytics, complete with reports that include data filters.
In addition to the regular affiliate program, IQ Option offers an IQ Option CPA program, which it advertises as among “the most lucrative” programs of its type within the industry. Qualified traders can receive payments between $35 and $1,200. As with the regular affiliate program, the CPA program receives payments twice each month and gets useful data. There is also a convenient calculator to determine approximate income from CPA program affiliates.
History of IQ Option in Numbers
As mentioned, IQ Option was founded in 2020. Since then, the broker has grown considerably and includes specific figures on its website to help show its growth. Starting with the number of active users, there were 8,110,000 registered users in 2020, which had nearly doubled to 14,680,000 by 2020 and reached 25,580,000 in 2020. This represents registered user growth of a whopping 17 million just between 2020 and 2020.
Not only did IQ Option have an expansive growth in active users, but the countries that these traders were from increased. In 2020, IQ Option had traders in 135 countries, growing to 148 countries in 2020, 150 in 2020, and 151 in 2020.
IQ Option also lists the figures related to trades throughout the years. Between 2020 and 2020, the number of daily transactions increased by nearly 70 times. Between 2020 and 2020, this figure grew another 2.5 times. For those interested in specifics, 2020 had an average of 646,000 transactions each day, which increased to 956,000 by 2020 and 1.8 million by 2020.
Or you can look at the figures representing growth in terms of trading volume per month. Between and 2020, this figure increased by about 23 times. In 2020, the figure was $16 million, which became $89 million, an increase of 5.5 times in just a year. By 2020, this was $184 million, more than doubling in just a year. Between 2020 and 2020, the monthly trade volume increased to a whopping $380 million. This means that for two consecutive years, IQ Option doubled its monthly trading volume.
That trading volume does not all stay inside the platform. Instead, there is also an increase in the amount that traders withdraw from the platform each year, showing that the active users are truly earning money. In 2020, traders withdrew $1.5 million per month, which became $5.8 million in 2020 and $10.8 million in 2020. In other words, 2020 saw 1.8 times more money withdrawn by traders from IQ Option compared to the previous year.
It is also worth noting that these withdrawals have increased in speed. In 2020, IQ Option made changes to offer instant withdrawals. This allowed for 68 percent of withdrawal requests to be processed immediately. Now, the average time for processing a withdrawal from IQ Option is just one day. The order processing has similarly improved, now averaging just a second.
IQ Option also offers indications of how its customer support has improved over the years. When chat support began in 2020, there was an average wait of 7 minutes for a reply in chat, which decreased to 4 minutes in 2020, 46 seconds in 2020, and 38 seconds in 2020. On a similar note, the amount of time it took to answer a ticket decreased from two hours in 2020 to 24 minutes in 2020 to just 16 minutes in 2020. Some of this is also due to the growth of the support team, which only had 25 members in 2020 but grew to 39 members in 2020 and 78 in 2020.
The number of affiliates has also grown from 3,000 in 2020 to 84,000 in 2020. This included 21,000 affiliates in 2020 and 48,000 in 2020. Along with the growth of affiliates, those affiliates have consistently earned more every year. Affiliates earned $200,000 monthly in 2020, $810,000 in 2020, $2.3 million in 2020, and an impressive $4.6 million in 2020.
IQ Option Awards
Over the years, IQ Option has accumulated an extensive list of awards, each of which shows off one of the platform’s strengths. The Academy of Interactive & Visual Arts honored IQ Option with the 2020 Award of Excellence, which is the highest honor from the Communicator Awards. IQ Option was recognized by the voting committee as the top trading app in the Financial category.
In 2020, IQ Option earned the Rising Star award for “The intelligent trading app for binary options” from the Mobile Star Awards, the largest annual awards program worldwide for mobile software and innovations. The organization praised IQ Option for its design and efficiency.
The Web Marketing Association honored IQ Option with the Best Technology Application in 2020 for the company’s mobile application.
IQ Option also earned the Century International Quality Gold ERA Award from the Business Initiative Directions Group as recognition for the company’s commitment to Excellence and Quality, especially within Customer Satisfaction.
Going back a bit further to 2020, IQ Option earned the title of Best Binary Options Broker Europe 2020 from the Global Banking & Finance Review. The broker also earned the title of Most Innovative Binary Option Platform from the IFM Awards in 2020, as well as the Best Mobile Trading Platform in the same awards.
Global Brands Magazine, which is a reputable brand observer in Britain, honored IQ Option with the title of Fastest Growing Binary Option Brand. In the Forex Awards 2020, IQ Option was named the Best Trading Platform. Also in 2020, the MasterForex-V awarded IQ Option as the World’s Leading Binary Options Broker and the Most Reliable Binary Options Broker.
The FX Report Awards named IQ Option the Best Binary Options Broker in 2020. In 2020, the same year IQ Option was founded, the company earned the title of Most Innovative Binary Option Broker from Moscow’s ShowFx World conference. At the IAIR Awards, IQ Option earned multiple awards, including the Best Binary Options Broker and the Best Binary Options Broker/Trading Application.
IQ Option Jurisdictions, Languages, and Countries
IQ Option has clients from 151 different countries. The platform and website are currently available in 13 languages, allowing traders from around the world to trade in a language they are comfortable with. For further international appeal, IQ Option lets traders select from one of the following currencies for funding: GBP, EUR, USD, Yuan, MYR, IDR, and RUB.
IQ Option is owned and operated by a company within the European Union. As such, IQ Option has a license from CySec, the Cyprus Securities and Exchange Commission. To receive that license, IQ Option met, and must continue to meet, minimum requirements related to marketing restrictions, client funds, and trading products. The registration in Cyprus as a financial services provider has number 247/14, giving IQ Option the ability to take on European clients, who then receive full CySec protections.
Due to CySec regulations, all client funds must be stored in segregated accounts that IQ Option cannot access for its own brokerage business. CySec regulators also offer a level of deposit insurance, which protects a certain level of all investments made with IQ Option if something happens to the broker.
IQ Option USA
Unfortunately, IQ Option is not available to traders in the United States. The broker is available in 178 countries around the world, but the United States has stricter restrictions and regulations, meaning American traders cannot use the broker. Other countries that you cannot use IQ Option in include Canada, Russia, Australia, France, Japan, Belgium, Turkey, Israel, Iran, Syria, and Sudan.
IQ Option Customer Support
IQ Option allows users to contact the support team via email, contact form and a chat function. The site claims to respond to all queries within 46 seconds and aims to resolve all tickets within 24 minutes. There are currently around 83 customer service specialists on the team and traders who require a more personalized service can upgrade to the VIP account which comes with a personal account manager.
IQ Option retains an international focus and aims to cater to traders from around the world. The platform offers the possibility to trade in a variety of different currencies such as USD, GBP, EUR, Yuan, RUB, TRY, IDR and MYR. In addition to this the site also provides support in languages such as English, French, Italian, Spanish, Portuguese, Chinese, Korean, Arabic, German, Turkish, Thai, Hindi, Urdu and Norwegian.
However, due to a variety of different regulations, the site does not provide its services to citizen or residents of the United States of America, Australia, Canada, Belgium, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea or Russian Federation.
IQ Option also adheres to the required standards of identification and users should note that when they register for a trading account they must provide their personal data and verify their email address and telephone contact number. Potential users who are unable to do this will be unable to complete their account registration.
- Also after funding your account, you will be asked to provide further personal information in order to complete your account verification. IQ Option will expect to receive copies of identification documents such as:
Passport or National ID Card issued by a Government Authority
- Proof of Address in the form of a Utility Bill or Bank Statement is required from EU residents.
IQ Option Customer Reviews
Most online reviews from customers of IQ Option are positive, but there is the occasional negative review, as should be expected. Some complaints relate to the fact that IQ Option requires KYC procedures to verify your identity before you withdraw funds. However, these procedures are normal for any broker dealing with fiat currency, and even many cryptocurrency exchanges require KYC procedures.
Some users also indicate that withdrawing funds can be challenging at times with the occasional issue related to having an account blocked. However, this does seem straightforward to resolve and may come down to KYC issues; the reviews are not clear on the cause.
Those reviews that indicate complaints against IQ Option are regularly interspersed with positive reviews. It also seems that many of the negative reviews posted online are not actually from customers. Instead, they are from people who claim to have had issues as a way to promote another service. When you look at online reviews from people who claim to be customers of IQ Option, remember to take them with a grain of salt since many are clearly from competitors or people with ulterior motives.
When read with a critical eye, the overall trend of seemingly valid reviews of IQ Option from customers seems to be neutral to positive.
Is IQ Option a Scam ?
While carrying out this review and researching other people’s opinions online, we found a number of complaints from people calling the site a scam. Some reasons mentioned are that they disabled a person’s account which didn’t allow them to withdraw their balance and a lot of disgruntled people who seem to have lost money trading on the platform.
But we also found overwhelming number of positive comments about the company which seems to point that the few who have had problems with them are the more vocal people online.
In our view there is absolutely no way this company can be considered a scam, the company is a tightly regulated business with a high revenue turnover, official business premises and high quality website and trading software.
Is IQ Option Safe?
In addition to practices such as maintaining segregated accounts for client funds, IQ Option offers security in several other ways. Unsurprisingly, the broker has full SSL encryption. As such, all communication that traders send to the broker’s servers is encrypted in a way that meets AES 256 Bit encryption standards. That encryption limits the ability of hackers to access information, letting IQ Option supply added protection of both client funds and information.
IQ Option is an impressive platform that provides its users with a great amount of value. The site merges a good level of transparency and functionality and users can be comfortable knowing that the platform is in keeping with the latest financial regulations.
Trading on the site is generally quite a smooth experience and the platform utilizes an intuitive UI that is easy to navigate. The platform and trading application is functional enough for professional traders whilst also being simplistic enough to allow new entrants to painlessly learn the trading process.
IQ Option is a company on the rise and has grown to managing almost 15 million accounts and processing 3 million trades per day. The site also enjoys a trading volume of $11 billion a month and pays out approximately $5.7 million to its users on a monthly basis.
The site does have its drawbacks, and users who require extensive interaction with a customer service agent may be unfulfilled by the two account levels. In order to be in consistent communication with a personalized account manager traders are expected to pay a $3000 fee which may be too restrictive for some. The site is also proving to be popular with traders around the world and despite IQ Option devoting time and energy to developing its customer service, there is the possibility that users may have to wait for more than 24 minutes in order to have their queries processed.
Finally, IQ Option is not available to the residents of countries such as the United States, Canada, and Japan. These nations are home to large numbers of financial literate individuals and the platform would be better off with their presence. However, IQ Option still caters to traders from over 178 countries and provides a comprehensive service to all its users. The platform caters to stock, Forex, and cryptocurrency traders and individuals who sign up can be sure to interact with an intuitive platform that provides access to a wealth of resources, and trading options.
Risk Warning: As always with trading, you should know the risks before hand – these are volatile markets where it is completely possible to lose large sums of money if you do not know what you are doing. Make sure to do your research, learn the platform inside out and never risk more money than you can afford to lose.
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