IQ Option
Bonus
IQ Option does not offer any bonuses
Overview
- Organization: IQ Options Ltd Reg. Number - 094224
- Payout option: 85%
- Minimum Deposit: $10
- Demo account: Yes, Unlimited
- Indian: Yes
- Compatibility: Android, Mac OS, Windows, iOS
- Platform type: Self - Developed
- Minimum investment value: $1
IQ Option Review 2023
IQ Option is among the fast growing online trading platforms across the world. The brand was established in 2013, and is based at Agios Athanasios, Limassol, Cyprus.
It is owned by IQ Option Europe Ltd and regulated by Cyprus Securities and Exchange Commission (CySEC), a highly reputable agency in the industry.
IQ Option has made significant progress since its establishment, now having over 45 million members globally. The Company has won a few awards, thanks to its CEO Alkis Hilton, who has invested much effort to see the brand grow in quality.
In 2016, IQ Options was voted as the best mobile trading app in The Mobile Star Awards, praising its impeccable design and efficiency.
It also received the 2017 Award of Excellence given to the platforms that exceed the industry standards in terms of quality and achievement. India is among the countries where this trading platform has been legalized.
The Company has refined its offerings and introduced many new products to continue giving the Indian customers an ultimate online trading experience. With a minimum deposit of ₹ 750 and a demo account, IQ Option has made online trading convenient for all Indian traders. Let us take a look at what it’s like to trade with IQ Option.
Visit IQ OptionTrading Offers (Assets)
Currently, Indian traders have access to a wide range of underlying assets at IQ Option. They entail a selection of currency pairs, stocks, indices, ETFs, and commodities. Besides, IQ Option has increased the number of Cryptocurrencies, now adding up to 27.
The list of available trading markets is constantly growing, and the firm has recently expanded their stocks to a total of 183. This expansion is expected to continue to all areas with time. IQ Option also spreads its markets across all products, and things like Gold, Oil, and Silver have been added to their digital trades asset list.
The minimum trade size varies with different products where digital and binary options go as low as ₹ 75, with potential returns of 900% and 95%, respectively. The Forex CFD’s minimum trade size is ₹1500, while the FX options go up to ₹2250.
Register for a free demo account todayAccount Types
There are three main trading accounts at IQ Option, the Standard account, the VIP account, and the demo account. Both standard and VIP accounts are well equipped and offer incredible features. The minimum deposit for the standard account is ₹750, while the VIP account is ₹225000, which is fair compared to other brokers.
Each of the accounts allows traders to participate in the IQ Option’s trading competitions weekly. However, the VIP account offers additional interesting benefits and features such as personal manager, monthly analysis, and 3% additional returns.
Potential Indian traders who wish to find out how IQ Option works can open a demo account. It is free of charge and does not require you to make any deposits.
This account comes loaded with ₹750,000 practice cash, which you can use to execute your trial trades. If you run out of the money, you will be required to apply for new cash, and your account is filled in seconds. After you are comfortable and made significant profits, you can proceed to fund your account with real money on the platform.
Commissions and Spreads
IQ Option is transparent with its costs and fees. If you want to know how much it will cost you to trade here, you will have to keep in mind the following factors:
Spreads
This is simply the difference between the buy and sell price. The IQ Option spreads vary depending on liquidity, volatility, and the time of trading.
Swap Fees
They refer to the fees applied for positions that traders hold overnight. The charges often vary from 0.1% to 0.5% and might even go higher when you hold the positions over the weekend.
Withdrawal Fees
Most service providers do not have withdrawal charges. However, the bank transfers attract up to ₹2250 charges.
Dormant Accounts Fees
Whenever an account remains inactive for 90 days, IQ Option applies a ₹750 charge every month if the account balance is more than zero.
Commissions
Some Cryptocurrencies trades involve a 2.1% commission. The charge does not apply to the other IQ Option assets.
Deposit and Withdrawals Options
IQ Option offers Indian traders secure and convenient ways of making deposits and withdrawals. There are different options, including eWallets, bank wire transfer and credit cards.
The available credit cards are Maestro, VISA, and Mastercard. The eWallets include Neteller, Perfect Money, Skrill, and WebMoney. Recently the Company has added AdvCash to the list, a method that is fast and very convenient.
Indian traders can withdraw money using the same method they used to deposit. Withdrawal approval waiting time is one business day but can be as fast as a few hours using the eWallets. For bank wire transfer and credit cards, the process may take up to 10 business days. The minimum deposit is ₹750 for standard accounts while the minimum trade value is ₹75.
The IQ Option Bitcoin deposits are also available, but the process is more elaborate as one must have a Cubits account for it to work. You will be in a position to transfer cash to your trading account easily from a Cubits account.
The good news about IQ Option is that for Bitcoin deposits, you can pay through a fiat currency then exchange for Bitcoin. As soon as Cubits verifies your transaction, your money should reflect in your trading account. With IQ Option online, making transactions becomes easy.
Trading Platforms and Mobile trading
Like other leading trading platforms in the industry, IQ Options India allows you to play on the go. What sets this app from other similar products is that you can download it on any operating system you can think of.
The IQ Option Android and iOS apps are available free of charge in Google Play and Apple store, respectively. Therefore, your mobile device allows you to access all the features and products of this platform, including a free demo account and the customer support service. You will also be able to trade cryptocurrencies on CDFs.
That’s not all; there are other trading apps available that are designed for laptop and desktop computers. Generally, the IQ Option window version and Mac version are there to help you enjoy.
You can access these apps on the broker’s download page as well as the system requirements of each of them. Of course, this is all free of charge. Therefore, regardless of what kind of device you are using, you will be able to trade with this broker. IQ Option Mac, Android, iOS, and windows enable you to stay in touch with the market.
Most brokers offer Metatrader 4 trading platform, but IQ Option India is exceptional. It is impossible to use MT4 with IQ Option, but that should not discourage you as the Company has developed its proprietary trading platform that is pretty good. Their platform is simple, clean, and user-friendly.
While it may not match MT4 in terms of popularity, it is easy to use and perfect for beginners. They have undoubtedly spent plenty of time on the user interface with a major goal of keeping things simple. With a vast range of indicators and graphical tools for charting such as moving averages, Fibonacci, resistance, and trend lines, this platform is worth trying.
Visit Iq Option NowBonuses and Promotions
At the moment, IQ Option does not offer any bonuses, be it deposit bonuses, welcome bonuses, risk-free trades, or any other way of giving traders additional funds. This is because the EU does not allow such offers to be given by any broker within its jurisdiction.
IQ Option has to comply with the decision since CySEC regulates it. Nonetheless, even without that, IQ Option remains the best option for Indian traders as there are more other enticing features to take advantage of. Perhaps with time, this policy might change.
Customer Support
Besides a good working platform, traders require a reliable and friendly customer support service that they can run to whenever they have questions or concerns. IQ Option offers a high-level support service for its traders. You can choose between live chat, phone call, or email, all available in more than 20 languages, including Hindi. There are professional and very friendly representatives available 24 hours every day.
The live chat is the perfect way of receiving fast responses and is ideal for issues that are more urgent. You can start a chat by clicking on the chat symbol under the contact us button.
Besides, you can chat with other traders from all over the world. Alternatively, you can make a call to 0008000401361, and an agent will attend to you. If you have less urgent issues or concerns, you can email to [email protected], and you will receive a response within a few hours. Traders with VIP accounts have VIP support managers.
Another interesting feature about IQ Option is education for beginners. New traders have access to more than 200 different videos on how to make successful trades with the broker. IQ Option support service is appealing, and one of the best you will come across.
FAQ
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Is IQ Option a reliable trading platform?Yes! IQ Option is very reliable as it is regulated by the Cyprus Securities and Exchange Commission (CySEC). It means that the Company meets all the requirements of a legit online trading platform. Besides, the broker ensures that your money is handled professionally and ethically.
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What is the minimum amount of money required to open a real account?A: To open a real account, you will need to make a minimum deposit of ₹750 for a standard account. If you wish to open a VIP account, you will have to make a minimum deposit of ₹225,000.
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Is IQ Option good for day trading?Absolutely! The platform offers CFDs, enabling traders to open and close their market positions at any given time. As such, it is suitable for day trading.
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How long does the withdrawal processing take?Withdrawal requests are processed within one business day and can be as fast as a few hours using the eWallets. For bank wire transfer and credit cards, the process may take up to 10 business days.
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Does IQ Option offer an MT4 trading platform?Unfortunately, the IQ Option does not offer an MT4. However, that should not despair you as the Company has developed its proprietary trading platform that is simple and user-friendly. It is worth trying it!
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Can I trade on my mobile?Of course! IQ Option has dedicated mobile apps for Android and iOS devices. The apps are available free of charge in Google Play and Apple store, respectively. You can access all the platform features and services on the mobile, including the free demo account.
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What is the maximum leverage at IQ Option?IQ Option offers maximum leverage of 1:500 for non-EEA traders. The EEA members have their leverage capped at 1:30. However, EEA traders can register as professionals so that the regulatory limits will not apply to their accounts. More details on this are on the IQ Option platform.
Conclusion
IQ Option is undoubtedly among the best brokers in India. This award-winning broker offers a wide range of trading assets, including stocks, market indices, ETFs, and commodities.
Everything has been made smooth, intuitive, and quick thanks to the custom-made apps for Android, iOS, Windows, and Mac. If you are new to trading, you can practice through the free demo account. There are also over 200 videos to help you sharpen your skills.
Making deposits and withdrawals has been made easy through reliable and secure payment options offered by this broker. From time to time, people ask whether it is legal for India traders to invest with IQ Option.
The answer is absolute. Yes, IQ Option has been legalized in most countries across the world, including India. Indian traders should, therefore, feel safe to invest with this broker. If you still haven’t registered with IQ Option, you are missing out a lot!