|Free Demo Account|
|US Traders Allowed|
Introduction to IQ Option
IQ Option, founded in 2013, has one of the slickest looking trading platforms out there today. Couple that with the fact that it supports an impressive 12 different cryptocurrencies (including Ripple XRP!) and you’ll begin to get an idea of how IQ Option has made such a name for itself within the digital asset community.
The interface achieves that rare feat of being on the cutting edge of trading technology – it is, after all, a bespoke platform with more in common with complex forex trading engines than with traditional binary trade consoles – while also being simple and intuitive enough for beginners to pick up. Indeed, IQ Option has become far more than just a binary trading platform; it now offers forex trading, CFDs (Contracts for Difference), and risk management tools such as ‘Stop Loss’ and ‘Take Profit’ functionality.
What is Binary Trading?
A binary option is a financial option in which the payoff is either some fixed monetary amount or nothing at all. They are also called ‘all-or-nothing options’, digital options (more common in forex/interest rate markets), and fixed return options (FROs) on the American Stock Exchange. Needless to say, binary options are risky little endeavours so always take care when dabbling in binary trading.
Is IQ Option a Scam?
Despite the suggested search terms that pop up when you type ‘IQ Option’ into Google’s search engine, IQ Option is indeed regulated. If investing in Europe, you’re 100% covered by CySec, the Cypriot regulating body. However, if you’re outside Europe you may want to exercise a little more caution because, although IQ Option has been trying to make arrangements with other regulatory bodies around the globe, it doesn’t look like anything’s been finalised just yet.
Although not a scam, IQ Option does offer a wide variety of very high risk products so be careful when choosing options because there’s the potential to get burned pretty bad with some of the products on offer.
Another good thing about IQ Option is its transparency; you can use the demo account for as long as you like with IQ unlike some other brokerage firms who give new traders a time or (fake) money limit.
Additionally, IQ Option chose to put an end to the bonuses it was offering; this was in compliance with regulations so good to know IQ takes its regulatory body seriously.
When it comes to hedging, IQ Option is very upfront about how and when they hedge their positions so you don’t get the impression there’s any ‘screw the user’-type mentality.
And finally, IQ Option offers great round the clock support to its users in a wide variety of languages; they also have a live web chat service which is available 27/7.
IQ Option’s trading platform is bespoke, full of useful tools, such as ‘stop loss’ and ‘take profit’ functionality. It’s available as a web-based hub or can be downloaded onto your PC or Mac as an application; the application is slightly faster, though there’s hardly any difference.
IQ Option offers four different graph views: line, candlestick, area, and bar. And the size of trades you can make ranges from just $1 to $10,000 on the classic options.
IQ Option Says:
“Our company may not be the first binary options broker and we did not create the concept, but in 2013 with our entrance into the marketplace we set a goal for ourselves – to invent the best binary options trading solution in the world. With the latest technologies and innovative ideas, we’ve created a platform which gives our clients an easy, smooth and fun trading experience.”
We are the first in the industry who:
- Provide our clients with an absolutely free demo account
- Set minimum deposit of $10 to make trading available to everyone
- Increased the gain per trade up to 92%
IQ Option supports the following cryptocurrencies:
- Bitcoin (BTC)
- OmiseGO (OMG)
- Monero (XMR)
- Ripple (XRP)
- Ethereum Classic (ETC)
- Ethereum (ETH)
- Litecoin (LTC)
- Santiment (SAN)
- Bitcoin Cash (BCH)
Finally, for cryptocurrency enthusiasts, IQ Option have partnered up with a brand-new token called OTN (Open Trading Network).
OTN’s creators hope it will unite everyone in a single trading space. More information below and website here.
IQ Option is planning a promotional giveaway for October 9, 2017. More info below:
What OTN is offering?
For consumers (users of cryptocurrency):
- Universal crypto wallet: All assets in one place
- Trust and guarantees: Automatic smart contract based on real assets insurance
- Legal compliance
- Universal tokenization and cross-chain exchange
- 24/7 Trading, Speed and Reliability
- Complex trading tools for investment and trading
IQ Option is a great site with excellent options and functionality but it may be a bit complex for first-time traders so it may be something to work towards.
Happy trading!Visit Broker