IQ Option is one of the world’s leading online trading avenues for traders to execute transactions in a varying range of financial instruments including ETFs, cryptocurrency, commodities, forex, stocks and binary options. A broker operated by IQ Option LTD, IQ Option was established in 2013 and today, it has grown into a globally acclaimed trading platform with more than 1 million daily transactions.
IQ Option, a Cyprus-based trading company, is regulated by CySEC (Cyprus Securities and Exchange Commission) with its service coverage spanning over 213 countries of the world.
In this review article, you’re certain to find out almost everything you intend to know about IQ Option including whether it’s a reliable broker for your trading needs.
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Is IQ Option a Legit Trading Platform?
If you’ve been pondering on whether IQ Option is a safe-to-use trading platform, you needn’t ponder anymore as IQ Option has been touted as one of the world’s biggest binary option brokers. Besides being regulated and licensed under Seychelles Financial Services Authority and Cyprus Securities and Exchange Commission, IQ Option boasts more than 40 million registered users, giving a convincing impression of its legit status.
Furthermore, IQ Option maintains membership in the Investors Compensation Scheme which is known for reliable security of clients’ funds. Adding to IQ Option’s impressive track record is the fact that the trading company has been awarded on multiple occasions for its reliability and the quality services rendered. According to verifiable statistics, numerous traders across the world have regarded IQ Option as one of the industry’s best brokers.
Making Money with IQ Option
IQ Option paves the way for its registered users to earn profit majorly through digital options (which guarantee up to 900% profit) and binary options (which guarantee 95% profit).
Basically, making money with IQ Option requires you to accurately forecast the price movement of an asset by the point of expiration of the trade contract. Interestingly, you can make money within one minute by using IQ Option’s short-term trades to accurately forecast the market direction.
Fund Deposit with IQ Option
Depositing funds with IQ Option doesn’t come at any cost while the least amount you can deposit (in your attempt to open an IQ Option account) is 10 EUR/USD/GBP. Helpfully, IQ Option supports a number of deposit options inclusive of wire transfers and credit cards (Mastercard and Visa). Although IQ Option doesn’t support depositing with PayPal, you can expect to execute your IQ Option payments via a pretty number of popular e-wallets including Neteller, Cash U, WebMoney, Maestro, Moneybookers and Skrill.
Depending on your country of residence, the requisites required of you for verifying an IQ Option account may vary. While account verification is considered essential before you’re able to make your initial deposit with IQ Option, photo identification may constitute the requirements you’ll need for such verification.
Fund Withdrawal on IQ Option
To withdraw funds from your IQ Option account, you’ll have to tender a withdrawal request through the (payment) medium with which you deposited your IQ Option funds. Following this, you’re then free to specify your preferred payment medium for your fund withdrawal. While the minimum amount you can obtain in withdrawal is $2, it’s essential to note that IQ Option may charge you a little processing fee if you’re withdrawing via bank transfer.
Notably, your request to withdraw into a bank card might take a longer time to be approved. While your bank determines the latter case, it’s also notable that IQ Option processes all its withdrawal requests within 1 business day.
For every withdrawal you attempt to initiate on IQ Option, bear in mind that you’ll be required to verify your identity. While this identity verification is needed for protecting your account against third-party invasion, it can require as long as 3 days to be completed.
We strongly believe this article has helped you learn more about IQ Option and cleared whatever doubt you could be having regarding its reliability. Meanwhile, it’s quite interesting that IQ Option offers a number of added features that you may not have access to on various competitor online brokers.