IQ Options Europe Ltd introduced its platform of the same name back in 2013. With its main office located in Cyprus, this investment firm was then authorized by the Cyprus Exchange Commission to operate. Since its inception, it underwent numerous expansions up until it gained an operating license from the European Economic Area (EEA). With this kind of setup, IQ Option competes with established brokers and CFD operators in the European Zone and other regions. To date, it is one of the more popular brokerage firms in terms of margin trading.
IQ Option Legitimacy
With almost a decade of experience in providing financial solutions, IQ Option has already bagged numerous industry awards for its commendable services. Presently, it has secured its name as one of the most reliable brokers for its laudable compliance with CySEC’s MiFID policy. Having been listed under this regulatory body, clients’ funds are heavily protected by the Investors Compensation Scheme; whereas those who have encountered financial discrepancies, should they provide substantial evidence, are entitled to a maximum reimbursement of 20,000 euros.
The abovementioned benefit only applies to clients registered in the company’s EEA-based subsidiary. For those non-EEA clients, their transactions are managed by a separate subsidiary called IQ Option Ltd located in Seychelles, equipped with a jurisdictional license to operate.
IQ Option Account Selection
Far from the usual selection offered by most CFD and binary brokers, IQ Option only offers two live accounts and a demo account. While this may seem inadequate, the Standard and VIP accounts are wired with competitive conditions to effectively increase clients’ margin of profitability. As for their minimum deposit, the former only requires $10, while the latter may be opened for $1,900.
Both accounts grant access to IQ Option’s weekly trading competitions. While there are similarities between these two, the VIP account offers premium benefits including free program tickets, 3% additional ROI, and a dedicated portfolio manager.
For those who might want to test IQ Option’s overall functionality, they may start with a demo account. It comes ideal since clients may conduct trial trading, which does not require charges and pre-deposits. More so, it is equipped with a mock balance of $1,000 for traders who want to place live trades.
IQ Option is one among the few brokers in the industry who do not outsource the service of external platforms. It has developed its own proprietary platform that facilitates CFD and Binary Options trading. Clients are provided with a neat and user-friendly interface projecting a comprehensive chart. This, in turn, helps clients get an authoritative view of the markets’ present condition. Its effectiveness could partly be attributed to some of its in-house tools that are not commonly offered by any binary-abled trading platform. The selection includes the most popular indicators such as Moving Averages, Bollinger Bands, MACD, and RSI.
One of the recent innovations integrated in the platform is the so-called “Position Top-Up”. This function automatically restricts a trade if it detects a possible stop loss, completely giving traders larger scope to redeem their trade. With the help of such, traders are given new risk management and additional options for trading strategy.
Deposit and Withdrawal
IQ Option has multiple ways which funding may be placed through. It allows clients to deposit via credit cards, e-wallets, and bank wire transfers. Note that VISA, Mastercard, and Maestro are the only credit cards they accept. As for the e-wallet, depositing via Neteller, Skrill, Perfect Money, and WebMoney is available.
As for withdrawal, the same methods may be used. Completion of orders usually takes one business day, but it may be expedited depending on what method clients will use. Note, however, that withdrawal orders placed via credit cards and wire transfer may take as long as ten working days to be completed.
One of the most commendable features of IQ Option is its customer support. With 24/7 assistance, customers are provided with a dedicated team for trading concerns and queries. It has an active line of communication, and those who are in need of help may reach the team via email, live chat and telephone; which may then be translated into other languages for non-English-speaking customers.
IQ Option has long established its name even though it was only founded in 2013. By providing unique trading conditions, competitive fees, authoritative learning materials, and a highly-responsive customer assistance, clients are ensured that they are getting nothing but the best experience in trading.