IQ Option Review 2023: Is It a Reliable Trading Platform?

Are you looking for a way to invest your money online and earn profits? Do you want to trade with various assets, such as stocks, cryptocurrencies, forex, and more? If so, you might have heard of IQ Option, one of the most popular trading platforms in the world.

But is IQ Option a good choice for you? How does it compare to other brokers? What are its pros and cons? In this article, I will answer these questions and more. I will give you an honest and unbiased review of IQ Option. By the end of this article, you will be able to decide if IQ Option is the right platform for your trading needs.

Is IQ Option a good choice for you?

IQ Option is a trading platform that allows you to trade with various financial instruments, such as binary options, CFDs, ETFs, cryptocurrencies, and forex. It was founded in 2013 and has grown to have over 50 million registered users from 213 countries.

IQ Option has a user-friendly and intuitive interface that makes it easy to navigate and use. IQ Option offers a variety of tools and features to help you analyze the market and execute your trades. You can use technical indicators, charts, historical data, news feeds, economic calendars, and more. You can also practice your skills with a free demo account that comes with $10,000 in virtual funds.

Regulations

• IQ Option is registered in Cyprus as IQ Option Europe Ltd and acquired its CySEC license in 2014. CySEC is the Cyprus Securities and Exchange Commission, which is a top-tier regulator in the European Union.
• IQ Option is also EEA-authorized, which allows it to offer certain products and services to other countries in the European Economic Area. Some of these countries are the UK, Spain, Italy, and France, where IQ Option is registered with local authorities such as FCA, CNMV, CONSOB, and Regafi.
• IQ Option is not available to traders from some countries where it does not have a license or authorization, such as the USA, Canada, Australia, Japan, Israel, Iran, Syria, Sudan, North Korea, and others. This limits its accessibility and reach to potential customers who might want to use its services.

What are some trading strategies for IQ Option?

Where else can you find explicit trading strategies like the ones below, if not in IQ Option? With the listed strategies below, you, as a trader, are given a chance to invest using your most preferred strategy and double your profits in a calculated manner.

1. Momentum Trading Strategy: This is a strategy in which you wait for the asset to indicate swift movement and then open the trade. You can use technical indicators, charts, historical data, and news feeds to determine the strength and direction of the trend. This strategy can help you profit from short-term market movements.
2. Pullback Trading Strategy: This is a strategy in which you find an asset that moves in the direction of the trend and then trade on the pullbacks or retracements. You can use tools like Fibonacci retracement levels, moving averages, and support and resistance levels to identify the potential entry and exit points. This strategy can help you capture the continuation of the trend after a temporary reversal.
3. 5 Minutes Strategy: This is a strategy in which you trade with binary options that expire in 5 minutes. You can use tools like Bollinger bands, RSI, stochastic oscillators, and candlestick patterns to identify signals and opportunities. This strategy can help you make quick profits with high accuracy.
4. Ultimate Beginners Guide Strategy: This is a strategy in which you follow a step-by-step guide on how to trade on IQ Option. This strategy can help you learn the basics of trading and improve your skills.
5. Best IQ Option Strategies and Tips for Success: This is a collection of strategies and tips that can help you succeed on IQ Option. You can learn how to use digital options, binary options, classic options, risk management techniques, trading psychology tips, and more. These strategies and tips can help you enhance your performance and avoid common mistakes.

Benefits of IQ Option

• It does not charge any deposit or withdrawal fees, except for bank transfers.
• It also does not charge commissions or spreads on most assets, except for forex and CFDs. Instead, it charges an overnight fee or swap fee for holding positions overnight. The fee is calculated based on the asset’s interest rate differential and the leverage used.
• IQ Option also has a minimum deposit requirement of $10 and a minimum trade size of $1.
• IQ Option has a responsive and helpful customer support team that is available 24/7 via phone, email, live chat, and social media. They can assist you with verification, deposits, withdrawals, trading strategies, technical problems, and more.
• It also has a mobile app that is compatible with Android and iOS devices. You can access the platform from anywhere and anytime, as long as you have an internet connection.
• They also have a comprehensive FAQ section on their website that covers the most common questions and answers.
• IQ Option has a positive reputation among traders and reviewers alike. It has won several awards for its innovation and excellence in the industry. It also has many positive testimonials from satisfied customers who praise its platform, features, fees, customer service, and security.

IQ Option awards.

• Excellence In Forex Trading Platform Global Business Review (2022)
• Best Trading Platform: FX Daily Info (2022)
• Fastest-Growing Online Broker in Asia—International Business Magazine (2022)
• Best Trading Experience—World Forex Award (2022)
• Best Mobile Trading App Global 2023: World Business Outlook

Challenges met in IQ Option

However, the IQ Option is not without its drawbacks.

• It does not allow you to buy or sell the actual assets you trade with. Instead, you only trade with derivative products (CFDs), which means that you do not own or have any rights to the underlying assets. This also exposes you to higher risks and volatility than trading with real assets.
• It is not available to traders from certain countries, such as the USA, Canada, Australia, Japan, Israel, Iran, Syria, Sudan, North Korea, and others. This limits its accessibility and reach to potential customers who might want to use its services.
• If you don’t use IQ Option for three months you will be charged a monthly inactivity fee of $/£/€10.

Registration steps for IQ  Option

Are you a newbie to IQ Option and can’t figure out how to register with IQ Option? Well, worry no more, for here is what you need to keep going:

• Visit the official IQ Option website and click on the orange sign-up button on the top right-hand side.
• Fill out the registration form with your correct details, such as your first and last name, your email address, your password, and your country of residence. You also need to agree to the terms and conditions and the privacy policy of IQ Option.
• Click on the Trade Now button and verify your email address by clicking on the link that IQ Option will send you.
• Congratulations! You have successfully registered for the IQ Option. You can now access the platform and start trading with a free demo account or a real account.

How to deposit with IQ Option

As you know by now, there are several methods used to deposit in IQ Options, but two of the ways are elaborated here for you to ease your work.

How to add funds to your account using a bank card:

1. Open your menu on the upper left side of the dashboard. Choose “Deposit”; it’s the first option you’ll see. Or,
2. Click deposit on the upper right side of the dashboard, located just beside the figures of your account balance.
3. Pick your payment method.
4. Enter the amount you want to deposit.
5. Add in your card details: cardholder name, card number, expiration date, and CVV or CVC code.
6. After clicking “Pay,” you’ll instantly see the funds added to your account.

How to top up your funds using Bitcoins:

1. Open the Deposit tab and choose your deposit amount.
2. Unfold the payment methods on the list (found on the right) and pick “Bitcoin.”
3. After clicking “Proceed to Payment,” you’ll be forwarded to the Cubits—the processing provider—payment page.
4. Check the invoice amount and its BTC equivalent. (Confirmation of the transaction only lasts for 15 minutes. If you don’t confirm it, the invoice will simply expire.)
5. IQ Option will add the funds to your balance after Cubit verifies your payment, which is done immediately after your confirmation.

Wire transfer is a secure method since federal regulations require identity verification (among other information) and a physical address for everyone who opens an account. While it’s a reliable option, the days it can take to move money may be challenging for binary options trading, especially when you need the funds immediately

How to withdraw my profits in IQ Option

• You can only withdraw using the same payment method that you used to deposit. For example, if you deposit using a bank card, you can only withdraw from the same bank card.
• You can only withdraw up to the amount of your original deposit within 90 days after your deposit. For example, if you deposit $50 and make a profit of $120, you can only withdraw $50 from your bank account within 90 days. The remaining $70 can be withdrawn using a different method, such as an e-wallet or a wire transfer.
• If more than 90 days have passed since your original deposit, you will have to use an e-wallet or a wire transfer for the entire amount. For example, if you deposited $50 and made a profit of $120, and 91 days have passed since your deposit, you will have to withdraw $170 using an e-wallet or a wire transfer.
• The first withdrawal is free of charge, but subsequent withdrawals will have a fee of 2% of the withdrawal amount. However, the fee will not be less than $1 and not more than $30.
• The withdrawal process takes up to 3 working days to be completed. However, some methods may take longer, depending on your bank or e-wallet provider.

To access the withdrawal page, you can follow these steps:

• Log in to your IQ Option account on the website or the mobile app.
• Click on the profile icon and then choose Withdraw Funds on the website, or tap on the balance of your real-fund account and then tap on Withdraw on the mobile app.
• Select your preferred withdrawal method and enter the amount that you want to withdraw.
• Click or tap on the Withdraw Funds button and confirm your request.

How to trade with IQ Options

1. Create an account on IQ Option. You can choose between a demo account and a real account. A demo account gives you $10,000 in virtual funds to practice your skills and strategies without risking real money. A real account requires a minimum deposit of $10 and allows you to trade with real money and earn profits.
2. Choose an asset that you want to trade with. IQ Option offers a wide range of assets, such as stocks, commodities, currencies, indices, and more. You can use the “+” icon to browse and select the asset that suits your preferences and goals.
3. Predict the future price movement of the asset. You can use technical and fundamental analysis tools to help you with this. Technical analysis relies on indicators, charts, patterns, and trends to forecast the price direction. Fundamental analysis relies on news, events, reports, and data that affect market sentiment and the demand and supply of the asset.
4. Set the trade parameters, such as the investment amount, the multiplier, the stop loss, the take profit, and the expiration time. The investment amount is how much money you want to invest in the trade. The multiplier is a leverage tool that increases your potential profit or loss by a certain factor. Stop-loss and take-profit are automatic tools that close your trade when a certain price level is reached. The expiration time is how long you want your trade to last. You can choose between trades with fixed expiration (such as binary options) or trades with no expiration (such as CFDs).
5. Open the trade by clicking either buy or sell. Buy means that you expect the price to go up over time. Selling means that you expect the price to go down over time. You can also use tools like pending orders or market orders to open your trade at a specific price or the current market price.
6. Monitor your trade and close it when you want to take your profit or cut your loss. You can use tools like charts, indicators, news feeds, economic calendars, and alerts to keep track of market conditions and your trade performance. You can also use tools like trailing stop or auto-close to adjust your stop loss and take profit levels automatically according to the price movement.

IQ Option Review 2023: Conclusion

In conclusion, IQ Option is a reliable and reputable trading platform that offers a variety of financial instruments to trade with. It has a user-friendly interface, a mobile app, a demo account, a competitive fee structure, a responsive customer support team, and a positive reputation.

However, it is not available to traders from some countries, it does not allow you to trade with real assets, and it involves high risks and leverage.

Therefore, you should carefully weigh the pros and cons of the IQ Option before deciding to use it. You should also educate yourself on the basics of trading, the characteristics of each asset, and the strategies and techniques that suit your goals and risk appetite.

Remember that trading involves risk, and you should only invest what you can afford to lose.