Disclaimer: Between 74-89% of retail investor accounts lose money when trading CFDs.
If you’re looking for a stock trading platform that doesn’t try to be too social but still feels professional for users of all abilities, IQ Option is just what you’re looking for.
Disclaimer: Between 74-89% of retail investor accounts lose money when trading CFDs.
What we really like about IQ Option is that not only does it have an excellent Mac desktop app but more importantly, it’s a just a fantastic trading platform to use.
It’s important to be aware from the start that IQ Option is not available in Belgium or the Czech Republic due to rules on trading in those countries.
IQ Option allows you to trade stock, forex, FX options and cryptocurrencies.
Although you can also use IQ Option online, the Mac desktop client is more faster and more convenient that having to use your browser.
IQ Option is easily one of the best trading platforms we’ve seen that balances professionalism with ease of use.
While some trading platforms try to be too “social” to get beginners into trading, IQ Option feels like a more mature product that’s got something for traders of all levels.
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Is IQ Option Safe?
The main question many people have, especially when new to trading online is “Is IQ Option a scam?”
IQ Option is definitely a safe broker to use.
IQ Option is one of the biggest trading platforms in the world with millions of users so it’s absolutely safe to use.
IQ Option is regulated by regulated by the Cyprus Securities and Exchange Commission (CySec) in Europe.
Background
IQ Option has been around since 2013 when it started as a trading platform.
Probably due to its ease of use, professionalism and above average customer service, it has grown rapidly to allow trading in over 400 assets including forex, commodities, Exchange Traded Funds (EFTs), stocks via CFDs (Contract For Differences) and cryptocurrencies.
For crypto enthusiasts, you can trade 12 top cryptocurrencies which include Bitcoin, Ethereum, Litecoin, Ripple, Monero, Zcash, Omisego, IOTA, and Dash.
To date it has millions users and claims to manage over one million transactions per day from traders in multiple countries.
IQ Option is available in all EEA countries except Belgium and Czech Republic.
Interface
The interface on IQ Option is the best we’ve used for being straight forward and providing all the required time-history data and essential technical indicators such as RSI and Bollinger bands.
It feels professional but it’s also very easy for newcomers to learn. You can easily customize everything from the layout of charts and chart types to the color of the theme you’re using.
There’s a very active community of knowledgeable traders that you can chat directly with and share trading tips.
However, what we like is the social side of things isn’t overdone. Some trading platforms put social trading as their focus but IQ Option allows you to easily avoid all this if you just want to focus on trading.
The platform seems to be tweaked on a regular basis and it’s clear that IQ Option is constantly working to add features.
There’s a mobile app for both iOS and Android. Unfortunately, Options are not available on the iOS app but they are on Android.
Support is available 24/7.
Account Types
IQ Option offers only the Standard and Demo type of account for users in the EEA.
Standard accounts require a minimum deposit of $50 which is considerably less than other trading platforms like eToro and you can trade with a minimum of $1.
All withdrawals are processed within 3 days and you can choose from a wide variety of withdrawal methods and payment systems.
It’s worth mentioning that there’s no hard sell with IQ Option like there is with some platforms. Often when you open an account with a trading platform but don’t deposit anything, you receive cold calls asking why.
This doesn’t seem to be the case with IQ Option which is a minor note but a refreshing change.
Analysis & Trading Tools
IQ Option provides most popular technical indicators such as moving averages, Bollinger Bands, MACD and RSI.
There are also added features such as “Position Top-Up’ that allows you to keep a trade open if you’ve set a stop-loss.
You can of course set basic things like stop-loss, multiplier orders, take-profit orders and pre-orders to maximize your profits and minimize losses.
There’s a newsfeed to help you keep on top of the latest business developments and world news.
There’s also a mobile app which allows you to trade and use all of these tools on the move.
There’s no integration with Metatrader which may be a problem for more experienced traders although there are other ways of running MT4 and MT5 on Mac.
You can watch more on how to use technical indicators in IQ Option below.
Forex Trading
IQ Option is a great choice for Forex Trading with an easy to understand interface and even a dedicated FX Options platform.
Even better, IQ Option is currently in the process of becoming a Forex broker which means you will soon be able to use the platform to trade on the Forex market directly without the need for an external broker.
IQ Option feels extremely professional but it’s also very easy for newcomers to learn. There’s a very active community of knowledgeable traders that you can chat directly with and share trading tips.
For those interested in FX Options, IQ Option also has an excellent FX Option platform that’s extremely easy to use and understand.
The FX Option platform allows you to invest from a minimum of $25 and there’s some of the best tutorial videos you’ll find on how to trade FX Options.
You can open a free $10,000 FX Option practice account to try it for yourself.
Deposit Rules
There is no limit on the maximum deposit you can make but the maximum investment you can make in a trade is $20,000.
However there’s no minimum withdrawal requirement.
It’s important to note that if you deposit through a card, you can only withdraw the same amount that that you invested via the card.
You can also use an eWallet though for withdrawals for which there are no limits.
Demo Account
You can open a free $10,000 demo account with IQ Option to try it for yourself.
Disclaimer: Between 74-89% of retail investor accounts lose money when trading CFDs.
There’s no time limit on the demo account and you can reset the account if you lose all of your funds.
Support
One of the outstanding things about IQ Option is the support.
In an industry where there’s a lot of poor or bad support systems when it comes to stock trading platforms, IQ Option customer support, is free, fast, efficient and includes a toll free phone number in some countries.
You can also contact support via Live Chat and email support 24/7 in your own language.
Disclaimer: CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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