IQ Option is a financial services provider owned by IQ Options Europe Ltd and the broker is based in Cyprus. It started its journey in 2013. The company has made online trading accessible to everyone. Currently, it is one of the fastest growing trading brokers around the world. IQ Option is mainly a broker for trading binary options, but it has expanded its offerings and included CFDs on ETFs and stocks, forex trading, and an exclusive product named digital options. The broker has more than 40 million members already, and they are constantly working to ensure accurate, fast, and convenient trading on several assets. IQ Option has become very popular in South Africa as it provides customers with the ultimate online trading experience. How so? Let us find out more from the details about IQ Option written below.
IQ Option is safe
The first question is if IQ Option is a scam or if it is a safe platform for trading. The answer is that it cannot be considered a scam because the broker is strictly regulated with a high revenue turnover, high-quality website, official business premises and innovative trading software.
The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) in the EU. It fully complies with the legislation of the commission and fully authorised to sell their products in a number of jurisdictions. Due to the regulations by CySEC, the broker is also compliant with MiFID which permits it to offer its services to clients within the EEA. Moreover, IQ Option is a member of the Investors Compensation Scheme that protects the broker’s clients’ funds up to 20,000 euros.
IQ Option also maintains segregated accounts for client funds to offer security. It provides full SSL encryption which means all communication between the traders and broker’s servers is encrypted. It prevents hackers from accessing information by providing additional protection to both client funds and information.
A wide variety of market instruments
IQ Option allows traders to trade CFDs on stocks from over 176 companies, including those listed on the NYSE, and NASDAQ, twelve cryptocurrencies including top currencies like Bitcoin, Ethereum and Ripple. Apart from this, the broker offers trading on more than four thousand ETFs, commodities, and indices. Forex trading is very important in South Africa and IQ Option provides close to two hundred forex currency trading pairs. It allows clients to trade their favourite foreign currencies easily. The best part is that you can trade more than 10 million options on this broker, including digital and binaryoptions that are allowed in South Africa, where you can predict the price of different assets like stocks, currencies, indices, and commodities.
Low minimum deposit
A minimum deposit or initial deposit stands for the minimum amount that a trading account holder is required to deposit in the account to start trading with a brokerage firm. Minimum deposits help to make sure that the money paid by the account holder is enough to cover the administrative costs and other expenses associated with servicing the trading account.
Most brokers decide on a pretty high minimum deposit. However, IQ Option is different from the rest. You only need to deposit $10 in your account to start trading. The trading fee is also very low. Trading begins from $1 only on this broker.
Free demo account
If you are a novice trader, or you are trying a new trading platform for the first time, a demo account is very important for you. It is a practice account provided by some brokers that allows trading with virtual money. To trade on the demo account, you do not have to fund the account with the initial deposit and trading does not require money as well. So, there are no risks of losing your money. Without the risks, you can try the trading platform and different trading strategies to check which one works best for you. IQ Option offers a completely free demo account to make trading easier for new traders, which is also a huge reason for its popularity.
Leverage is a feature that allows traders and investors to get a much larger exposure to the market they are trading than the amount they deposited to open the trade. Leveraged products increase your potential profit. However, keep in mind that they always increase your potential loss.
The maximum leverage offered by IQ Option is 1:30 for EEA traders. This high level of leverage attracts most traders as it allows them to trade and aim for earning high profits even if they do not have a big amount in their account.
Safe and convenient deposit and withdrawal methods
To make your first deposit or withdrawal on IQ Option, you must go through the account verification process first, which makes the whole activity safe. The broker offers many easy ways to make deposits and withdrawals. You can use credit and debit cards or opt for electronic wallets like WebMoney, Skrill, and Neteller. Traders can also process payments via wire transfer with a minimum withdrawal amount of $2. It takes about a business day to deposit funds through this process and bank charges may apply.
Like deposit, credit and debit cards can also be used to withdraw money. However, you can withdraw the deposit amount only with the card. You must go for a bank transfer or e-wallet to withdraw any profit. The withdrawal requests are processed within three business days. The payment providers and bank cards may require additional processing time.
When it comes to trading brokers, one of the biggest problems users face is regarding deposits and withdrawals. So, since IQ Option provides easy and hassle-free options for deposits, and withdrawals, it becomes preferred to most traders in South Africa.
IQ Option is an impressive platform that offers functionality and transparency to users. Moreover, it acts according to the latest financial regulations. It is easy to use and navigate through the platform. Therefore, both beginners and pro traders are finding it attractive.