IQ Option FX broker review – should you use it?
Trading Forex has become one of the most popular activities. Online trading has spread to the whole world already. This means that people from all over the world are involved in trading and are involved in making the living out of it. It has not been too long since people discovered that trading online could actually be very profitable. Though, once the people have made this discovery, even the third world countries became instantly involved in the industry and interested in trading online.
The popularity of Forex trading can be defined by two major reasons. First of all, it is one of the biggest and most dynamic markets in the world and the second reason is that it is very promising in terms of making wealth from it. This is indeed true and we have enough examples to prove this theory.
In order for all two reasons to be verified, you should consider several topics before starting trading yourself. It is very important to choose the right steps and it is very important to choose the right companion on your journey. The online trading journey is very complex and can be very long as well. This means that it is essential to have the right support and the right path.
The right companion is the broker you choose to go through the whole path. The broker will be the one happy for you during your ups and will be the one who will be there for you during your downs. Though, just like everything else it also needs a very cautious eye in order to choose the right broker and consequently to make the right decision.
There are a lot of available brokers in the huge Forex market. While some of them are scams others are legit and moreover, are the best of the bests. In order to figure out which broker is the best of the best and why you should be going through the options, checking the legitimacy and being on the same note as the broker is. In this case, we will assist you in making choice and will be talking about IQ Option, one of the best brokers in the market up to date.
IQ Options broker review
It is essential to choose the right broker. And it is not enough to know that the broker is licensed in order to start trading with him. The license is a very important part, which defines the legal side of the agreement, though the features and the characteristics are the main while choosing the right one. The first thing you must pay attention to is the visual side of the broker.
Remember, that you will be trading with the broker online, this means that the technical side should be always the best quality. Otherwise due to very small issues you might face the very undesirable consequences. The technical side of the broker is very important. IQ Options has cared about the technical and visual side of the website.
The website is very simple and it has nothing extra. The information and the charts that are on the homepage are all representations of the market and will already deliver you the right vibe of trading and professionalism. The technical side is also very clear, after visiting the website for some time, there was no single issue with the technical aspect.
License and Platform
The broker is licensed by the CySEC (Cyprus Securities and Exchange Commission) and the FSA (Seychelles Financial Services Authority). This is one of the highest-ranked regulators and this means that the broker is legit. Moreover, you can check the license with the special license number, which is also indicated on the bottom of the page. This is very important in order to make sure that everything is legal.
The license and the regulatory body will not be figuring too much during your trading process. Though if something happens with your funds or should you have any problems, this is the moment when you will be addressing the regulator for help.
Another thing is the platform. Operating with the right platform is very important. The most commonly used platforms are MT4 and MT5. Those are known to be the most used platforms as well. Though many brokers choose to operate with their own web-based platforms. This makes the whole process more individual and more flexible. This also means that the broker has the ability to make certain amendments and make the whole trading process according to their own wills and demand of the costumers.
Awards and Mememebrs
The fact that there are over 40 million registered members with the broker, should already be talking that the broker is more than valuable and reliable. It is one of the highest numbers available in the market. It can be said that the significant part of the users and traders choose IQ Option as their companion. This is something that takes time.
The broker has been operating in the market since 2013. Through this period, the whole company has undergone certain changes and has made amendments with the platform, in order to make it more user friendly and to make it more adapted to the customer. This is very important, as, with the ever-increasing competition in the market, it is important to keep high standards and always focus on the development.
Here are all of the IQ Option awards as of 2020:
- Best Binary Options Broker and Best Binary Options Broker/Trading Application by IAIR Awards
- Best Binary Options Broker by FX Report Awards
- Most Innovative Binary Option Broker by Show FX World
- Most Reliable Binary Options Broker by MasterForex-V
- World’s Leading Binary Options Broker by MasterForex-V
- Best Trading Platform by Forex Awards 2014
- Fastest growing binary options brand by Global Brands Magazine
- Best mobile trading platform by IFM Awards 2015
- Most innovative binary option platform by IFM Awards 2015
- Best Binary Options Broker Europe 2015 by Global Banking & Finance Review
- Best Technology Application by The Web Marketing Association
- Century International Quality Gold ERA Award by Business Initiative Directions Group
- The intelligent trading app for binary options by Mobile Star Awards
- 2017 Award of Excellence by The Academy of Interactive & Visual Arts
For every trader, it is very important that the broker offers good terms and conditions. basically this is the main purpose the trader starts looking for the best and the most suitable broker. The terms and conditions are the top priority. The terms and the features offered by the broker are best viewed with the accounts and their offers. The IQ Options broker offers one of the most important types of accounts.
The demo account, which is one of the most important aspects for any trader who has just started and who has just entered the forex market. The demo account or practicing account is basically the whole experience and the base for building up a further career and the whole house. Not all brokers offer costumers practicing accounts. This means that whenever the trader starts trading, he or she registers for the account but does not contribute to the account financially. This means that the trader does not make any deposits.
The broker, on the other hand, gives the whole experience for free. The account is operated by the trader and provided by the broker, the charts, and the market are all up to date, though the fund is virtual. The asset is enough in order to learn about it. You can make very risky decisions and learn the tools, choose your favorite strategies and methods and all of this is for free. There is no fear of losing all of the money. The IQ Options offers one of the best experiences for beginners.
Once you are ready to switch to the live account, you are free to do so. You can choose any tool including Forex, cryptocurrencies, commodities, and indices as well as shares. It is up to you what you want to trade with. Is it precious metals, or is it oil or maybe even coffee, or if you are from the UK, maybe it is tea then? All of it is possible with the broker and with the good broker, everything can be profitable.
The best-known fact about IQ Option is that it is the best in the binary options sector. This is one of the most widespread strategies and one of the most profitable options as well. Most of the top successful traders in the world have all made a significant part of their wealth with the binary option.
A binary option is not an easy thing to take after, though once you pay enough attention and spend enough time acknowledging it, you should be fine.
Withdrawals/deposits and Fees
A very important aspect of trading is the payment method. If there is the payment method, which is very widespread and the broker still does not accept it for the payments, then you better forget about that broker and start looking for someone else, for example, an IQ Option.
Every type of payment method is accepted by the broker. YOu can choose the debit or credit cards, you can choose the e-wallet or even a bank wire. You are very free with your choice. With any type of payment method, the minimum deposit is still $10 or any other equivalent currency. Unlike many other brokers, the IQ Option does not have different limits for different payment methods.
The withdrawal process usually takes from 1 to 3 days. Though, this should not be a problem as, if there are no technical issues or any problems with your bank account, then you should receive all your money very soon. The maximum fee for the withdrawal is 2% for any payment method. There are some of the limits on the withdrawal, but you can get acknowledged with the limits on the website.
The main purpose of the broker is to keep the trader active in trading and in the market. It usually does not make sense to trade once, win all of the money, and withdraw it. The whole fun is about trading and trading more and more, this is how you get used to the market and how you learn to invest your time and money valuable into the activity.
It is very important for every broker to keep the costumers up to date and to keep them informed regarding all changes and the latest updates in the market. It is also very essential to keep the costumers dedicated regarding the market. Education is especially important for newcomers to the industry. Those are the people with the biggest potential and the biggest heart.
The broker has managed to think of the best options of educating the traders and thus offers webinars, tutorials, and guidelines for the traders who are still very young and wild and free. They have the field and they have the ball. The broker is there to give advice and be there if they forget how to use any type of instrument during the trading.
IQ Options is one of the best available brokers in the market. The broker offers one of the best technically performing platforms and a very wide field for the operation. The platform has been used by more than 40 million people from all over the world, as there is no restriction on any country and citizens.
The great advantage is that the broker is very affordable and does not request you to invest the whole heritage in order to start trading. This literally means that by investing $10 you can actually be the next best and the richest forex trader in the industry. It might take you some time, but it will only do you good in the future.
Another very small detail but very important detail si the 24/7 customer support team. Not many brokers offer their help 24/7. Usually, the customer support team works for 5 days a week only. Though, with the IQ Option, you can always rely on the team and always address them to help at any time. You can be sure that there definitely will be someone for you.
Overall, IQ Options is one of the best brokers available in the market. The number of awards and the number of costumers the broker has collected within only 7 years of the operation is very impressive and tells a lot about the attitude, and spirit of the company.