In the last decade, online trading has evolved from a “complicated science of men in suits” to a financial common ground for everyone. Much of this is down to companies like IQ Option. They’ve figured out how to translate the complicated mechanics of trading into a simple interface, making the investment business as accessible as a fast-food restaurant.
In this article, you’ll learn the highlights of IQ Option‘s services, such as:
- Customizable platform: adjust it to your needs and the platform will do the rest.
- Cross-platform experience: use versions for Windows, macOS, Android, iOS and Web.
- Multi-tool trading environment: choose from hundreds of instruments.
- Low barrier to entry: the minimum deposit is just $ 10.
- Free demo account: comes with $ 10,000 of reloadable (fictitious) virtual money
Let’s take a look at the platform in action.
A tour of the IQ Option platform
This is the Trading Room: everything happens here.
Adjustable graphics
Users can trade with up to 9 charts at a time and choose chart layouts: line, candles, bars or Heikin-ashi.
The great news is that you can apply indicators and widgets directly to the chart. This way, you’ll see the price action and important signals on the same screen.
Graphic tools
Different lines also give traders a clear visual representation of what is happening in the market. Apply the necessary ones and visualize them on the chart to make more balanced trading decisions.
Set of indicators
Indicators are crucial for technical analysis and at IQ Option, you can choose from hundreds of them, such as momentum, trend, volatility, moving averages, volume, popular and others. Traders can apply different indicators to different charts and save frequently used ones as templates.
Interface widgets
To display significant trading events in real time, users can apply widgets such as trader sentiment, high and low values, other people’s trades, news and volume.
As with indicators, you can use different widgets for different charts and save your favorites as templates.
Market analysis
The IQ Option platform features built-in market analysis tools: they help you keep up with market news without leaving the trading room. You can scroll through historical quotes, market updates, news, asset visualization and calendars.
Portfolio
The Portfolio section stores information about your open and pending positions, trading performance and balance history. Visit it to analyze your progress and manage investments.
Now that you have an idea of how the platform works, let’s see what IQ Option‘s trading conditions are.
Minimum Deposit
Among other advantages, IQ Option has gained popularity because it has a low barrier to entry into the world of trading:
The minimum deposit at IQ Option is $ 10. The minimum amount for an investment is $ 1.
You can deposit in US dollars or other account currencies, depending on your region. You can top up your account with any currency: the system will automatically convert the money according to the central bank rate. In addition, IQ Option accepts Bitcoin payments.
Deposits and withdrawals
The broker works with various payment methods, from global giants such as VISA, Mastercard, Neteller, Skrill and WebMoney to various e-wallets and local banks.
Local options vary from region to region. For Brazil, there’s Boleto, Caixa, Banco do Brasil and more: check out what’s available in Brazil in the Payment Methods section of the site.
You can make your first deposit as soon as you register: there is no need to verify your account for this. However, withdrawal requests can only be made after verification. This includes:
- Identity verification (scan of your passport or ID card)
- Payment method verification (scanning both sides of the card)
Once your details have been verified, you can use the same payment options to withdraw your profit.
So the best idea for a trader is to find a payment method that offers the most comfortable speed and fees. Many users prefer e-wallets because they work instantly and come with zero or minimal commissions.
Accounts
There are only 2 basic account types at IQ Option: Demo and Real. Each user gets both accounts by default:
The Demo Account (also known as the Practice Account) comes with $10,000 in virtual (fictitious) money for you to practice and test your strategies. Should this virtual money run out, you can top up the balance for free at any time. In other words, $10,000 is always at your disposal: the account has no limitations or expiration date.
The Practice Account and the Real Account are identical in terms of their interface and functionality, so when you feel confident trading on the Demo Account, you can switch to the Real Account and try out trading on the real market.
IQ Option trading application
If you want to trade from wherever you are, the IQ Option app will come in handy. It’s a modern, free app with extensive trading functionality: deposits and withdrawals, charts, order settings, account management, portfolio, market updates, analytical tools, alerts and much more.
You can download the app from the App Store and Google Play. It works perfectly well and can process several orders at the same time.
IQ Option support
If you want to know whether a broker will offer you a good trading experience or a bad trading experience in the future, check out their support options. A reputable broker always has an understandable and accessible means of communication to resolve customer problems as quickly as possible. Here’s what IQ Option offers:
- Online chat. You can access it on the website or directly in the Trading Room. Feel free to ask questions in English or Portuguese: the chat is multilingual. The average response time is around 40 seconds.
- E-mail. Describe your problem and send it to support@iqoption.com. The support team usually responds to emails within 14 minutes.
For trading-related questions such as strategies, trends and instruments, try the traders’ chat rooms in the Trading Room. Here, members of the IQ Option community share ideas and tips.
Tournaments
IQ Option tournaments are a way of earning extra money by competing with other IQ Option traders.
The tournaments are played for virtual money, but the prize pool is real: you can withdraw the money you win or use it for future trades. Typically, the prize pool ranges from $10,000 to $50,000.
There are free and paid tournaments. Paid tournaments usually come with a fee of between $2 and $20. The prize pool is higher in paid tournaments.
If your tournament balance falls below the starting balance, there is a rebuy option: top up your account with real money and continue playing.
Security
Secondly, the company has invested in strong encryption methods to protect confidential data.
Thirdly, the company has been up and running since 2014: long enough to earn the trust of its online community (more than 48 million customers in mid-2020). It has won 17 international awards for quality services. In addition, the IQ Option team produces market analysis to help traders learn how to trade and invest safely.
Final considerations
IQ Option has done an excellent job of making the most complex investment tools available to everyone. You won’t find any clutter or unnecessary buttons on the platform: just a clear menu with the most necessary controls. This makes IQ Option a great place to start your search for investment opportunities.
I hope this article has been useful!
After reading this article, you can get to know our investment platform better with a demo account on the IQ Option platform, and learn about the most interesting trading strategies.
