The world of binary options trading extends to forex by virtue of speed. Forex traders are used to seeing their market positions quickly run up or down in value as the pips fly by. This level of activity can be even faster than day trading Wall Street stocks, which means that it is perfect for those who enjoy the simplicity and sheer speed of binary options.
IQ Option is an online broker that has earned a very good reputation in the world of binary options, which is unfortunately plagued by less than savory brokers, operators and marketing. The nature of binary options trading and their simplicity have been exploited by unscrupulous marketers and brokers who tap into the speculative aspect of this financial activity. As a result, the binary options marketplace is plagued with dubious marketing tactics that make some brokers appear as if they operate casinos instead of online trading platforms.
IQ Option is a breath of fresh air for forex traders who are curious about binary options. Although these financial instruments are not for everyone, IQ Option presents them in a serious manner to make them appealing to both beginners and seasoned traders.
Types of Accounts Offered by IQ Option
This broker keeps things very simple by offering three types of account: Free Demo, Real Standard and VIP. The Free Demo account delivers as promised; there is no need to verify documents, and the trade parameters are set in a realistic fashion so that newcomers can experience what binary trading is really about.
The Real Standard account offered by IQ Option can be opened with just $10 after a thorough process of ID verification. The VIP account can be opened with $1,000; traders who are approved for this account enjoy one-day withdrawals, expedited customer service and favorable expiry rates. Deposits and withdrawals are handled via the usual methods: credit cards, bank transfers and electronic wallets such as Neteller and Skrill.
IQ Option has a good reputation in terms of withdrawals, which can be received the same week if they are deposited into electronic wallets. When the broker offers bonuses for signing up, traders may have to wait longer for withdrawals, and they may have to complete a certain number of trades.
The IQ Option Trading Platform
Here is something very important for traders to know about IQ Option: this is a broker that manages a proprietary trading platform that is not associated with the infamous SpotOption. A few online binary options brokers affiliated with SpotOption have ceased to do business due to various reasons, including: regulatory action, allegations of fraud, malfeasance, and negative publicity. IQ Option has none of these problems since the company has no connection with SpotOption.
The IQ Option platform is very likely the best in the market. Both desktop and mobile versions of the platform are responsive, intuitive and highly functional. Traders who rely on technical analysis will certainly appreciate the chart integration features as well as the layout of all the functions. The platform tends to perform better on tablets and larger monitors.
IQ Option Reliability
The company registration of this broker is based on the Republic of Seychelles as well as Cyprus. The parent company, IQ Options Europe, Ltd., is authorized to offer its trading services to individuals in the European Union as well as in other jurisdictions; however, IQ Option cannot open accounts for individuals residing in the United States.
Not too many complaints have been made against IQ Option. Most of the disagreements tend to arise when traders make withdrawals, particularly when they take profits from in-the-money options that they believed were priced incorrectly. This type of complaint is often heard across the binary options spectrum, and it frequently has to deal with volatility.
IQ Option offers a few dozen instruments to trade; the majority are forex currency pairs while the rest are major stocks and exchange indices. Although this broker has the best reputation in terms of pricing, some traders may find it arbitrary, particularly when they are speculating on the direction of an option based on current news.
It must be noted that binary options have a considerable potential to expire as worthless instruments. IQ Option offers great expiry rates to minimize liability, but this does not mean that traders should approach binary options as if they were lottery games.