Review about IQ Option, the most popular binary options broker in the world?

IQ Option broker logo safe or scam
IQ Option broker logo

According to the title, why do I call this broker the most popular binary options broker in the world?

Because when I write this review, this broker is a broker that has the smallest Alexa rank compared to other brokers. But does this popularity make this broker safe? Let's review.

IQ Option is a broker that offers online trading services for Forex assets, Stock CFDs, Binary Options, and Crypto Currencies.

Because this broker focuses on binary options, this broker is not suitable for forex traders because the spreads offered are disappointing.

IQ Option founded in 2013. At the beginning of its operation, this broker is a Binary Options broker that targets novice traders and small capital.

But over time, IQ Option has expanded its wings by facilitating Forex, Crypto, Commodity and other financial assets trading.

In terms of legality, IQ Option Europe Ltd company has a license from CySEC Cyprus with no. license 247/14.

Headquarters at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus.

However, traders who joined IQ Option came from various countries around the world, where the broker holds the position of the most popular binary options broker in the world (beating Olymptrade and Binary.com).



IQ Option broker has an exclusive trading platform anyone can easily simulate that.

This exclusive trading platform has a more attractive appearance and functionality that is more integrated with trading account management.

Their platform is modern and requires time to get used to using it, especially for new traders.

It builds this software from the ground up by IQ Option and has some of the best technical analysis and functions in it.

The mobile application available on iPhone and Android is also one of the most impressive and has most functions from the main web platform.

Changing between assets, option expiration and investment amount can also do easily from the same panel. Switching the trading platform from a demo account to a real account can do with just one click on the balance menu on the right side of the Trade Room.

However, IQ Option does not provide a common platform like Metatrader, so IQ Option clients can not access any public trading facilities.

Overall, the IQ Option web platform is fast but there are freezing constraints several times. Although this has no effect on transactions, it is becoming a common complaint by some users on the internet.


Trading facilities offered by IQ Option

IQ Option has sufficient assets of 75 units, including foreign currencies, commodities, indices, and shares in the form of CFDs.

About half of these 75 assets comprise individual US stocks that are only available during American market trading hours and will not be very attractive to most traders in Asia.

IQ Option offers standard options High / Low and short-term options and trading on weekends with several assets. The Turbo Option has a 1 minute expiration period and the regular High / Low option lasts up to 1 hour.

Like most binary options brokers, refunds offered at these brokers range between 80-90% of the profit. Meanwhile, if the loss can lose by 100%. However, there is an option to sell the contract before the expiry time.

In this broker, I often see changes in the percentage of refunds if of market turmoil, especially when data and news releases have a large impact, such as Non-Farm Payroll.

Account Types available on IQ Option

IQ Option broker only provides demo and real accounts.

For demo accounts, it's only using virtual money and we cannot withdraw the profit. The term of a demo account is just for exercise.

While there are two real accounts on the IQ option, namely Standard and VIP. They design real account types of traders who ready to trading with capital and risk, also to a trader who wants to access a wider variety of financial assets.

The minimum deposit on IQ Option is only 10 USD, whereas if you want to upgrade your account to VIP, you need a minimum deposit/balance of 3,000 USD.

Maximum leverage is 1:500 if you want to trade on forex. Traders can also access a variety of other trading instruments, such as Stock CFDs, Commodities, Crypto, ETFs, and Binary Options.


Is trading with IQ Option safe?

Traders can relax when trading with IQ Option because IQ Option has regulations from CySEC. CySEC does not act as strict as the FCA or NFA / CFTC (class 1 regulator), but in recent years CySEC has increased supervision of brokerage activities.

The Know Your Customer "KYC" requirements set by IQ Option are rather strict. The name on the transaction account must be exactly the same as the trader identification document.

For customer service, at this broker like other brokers where email, telephone, and live chat are available on the site. IQ Option provides telephone numbers for users from all over the world with service 24 hours a day for a week.

If we look at Alexa ranking, this broker is the most popular binary options broker at the moment.

For example, I compare with Olymptrade which is between 2 thousand, and also Binary.com is around 4 thousand. While the IQ Option rank is under 500 in the most popular sites in the world:

Alexa rank IQ Option most popular binary option broker
Alexa rank for IQ Option broker


Advantages of IQ Option broker

As in the picture above, one advantage of IQ Option is having a slim Alexa rank. Where the smaller the value of the Alexa rank, it means the more popular the site (many visitors). But that is no guarantee.
As a broker classified as a newcomer, IQ Option has offered trading facilities with an exclusive platform that not owned by other brokers.

This platform is the main advantage of IQ Option because besides functioning as a place for traders to carry out technical analysis and execute trading orders, the platform provides other account management functions such as integrated deposits and withdrawals.

Thus, clients who use the IQ Option platform can get all-in-one use in one medium.

Not only through applications that installed on a PC, but it can also operate the IQ Option platform through access on Smartphone devices and also through the web.

This gives a plus to the platform mobility that can use anywhere and anytime.

Anyone who wants to try this platform can also register a demo account easily.

Other advantages, for example, are available in various methods of depositing and withdrawing funds, including bank transfers (Wire Transfers), Credit Cards, PayPal, Neteller, Skrill, and WebMoney.

Deposit and transfer fees are free, except for transfers via bank. All deposits and withdrawals processed instantly, or a maximum of 3 working days.

Negative Balance Protection feature is available, which is a negative balance protection system to prevent clients from experiencing losses below the balance limit.

A drop in balance to a negative number can occur when market volatility is so extreme that it causes the Stop Loss or Margin Call function to burst.

IQ Option includes members of the Investor Compensation Fund (ICF). If IQ Option experiences financial problems, then the client can submit a replacement fund to the ICF up to a maximum value of 20,000 Euros.

Another advantage worth noting from this broker is the diversity of trading instruments. Not only Forex, but IQ Option can also provide alternative trading with CFDs on various asset classes, ETFs, Crypto Currencies, which is the main one which is trading services with Binary Options.

Disadvantages of IQ Option broker

Although it is very superior in terms of platform technology and trading instrument options, IQ Option also has shortcomings in terms of flexibility of trading conditions.

IQ Option also does not provide a popular trading platform commonly used by traders such as Metatrader and cTrader. As a result, many facilities are not accessible to IQ Option traders, for example, auto trading with Expert Advisors (robots), integrated Auto-chartist trading signals, and Copy Trading.

If you want to trade forex using some of these facilities, look for another superior forex broker.

Information provided by the IQ Option broker regarding its own platform features is also minimal. They do not display remarks, Minimum spreads and lots at all on the official website.

They still focus on the FAQ menu on the website on the Binary Options trading feature. This gives a minus value in terms of transparency, which needed in the era of intense competition of forex brokers like today.

The choice of payment methods provided by IQ Option is still not complete and there are no special deposit withdrawal facilities with local banks in certain countries.

Conclusion:

IQ Option is one of the foremost in the binary options industry and the choice of millions of traders around the world.

They offer a sophisticated web and mobile trading platform accompanied by a vast amount of assets.

Coupled with regulatory supervision (CySEC), it is not surprising that IQ Option is the choice of many binary options traders.

Forex traders who want to try trading simulations with various assets on alternative platforms besides MetaTrader can consider IQ Option.

You can access your IQ Option demo account for free by filling out a short form containing your name, surname, email, password, and checking statements that you over 18 years old on their website. Or you can also directly download the application from your smartphone.

IQ Option will email confirming the registration to your email. You can directly enter the Client Area to enter the Trade Room and try the IQ-based web-based trading platform.

They will give all people who register for IQ Option two types of accounts at once, namely a demo account and a real account. If you are already proficient in trading and want to upgrade to a Real account, you can choose the Deposit menu in the Trade Room, then deposit funds according to the procedures listed.


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