Review and comments
IQ Option provides binary options trading on its own platform based on WebGL technology. The company started providing financial instruments in 2013 and it is the first binary broker to succeed in implementing indicators on the trading platform. IQ Option was also running its own auto-trading robots for a short period.
Adding indicators on the platform turned out to be crucial, and IQ Option became the preferred broker for many. The ease of implementing strategies on the charts and placing trades proved to be the right approach for binary traders.
We must not forget the speed of execution; the WebGL technology gives the platform many advantages in terms of speed.
IQ Option combines a very customisable trading platform with great mobile solutions, enabling you to trade binary options in a professional way. The powerful tools allow you to build strategies and follow them on the charts.
The software is very flexible and allows you to use over 40 different layouts on the charts. I usually use one big chart, which makes it easy to add the needed indicators, such as Moving averages, Bollinger bands and Stochastic oscillators. Once you set your strategy on one chart, you can add a new tab with a different asset and your set up will be replicated right away.
The expiry time is set by the hour for 1 minute, 2 minutes, 5 minutes, 15 minutes, 30 minutes, one hour and End of Day. You should keep in mind that the End of the Day expiry is set with the asset trading time and not with the New York close. For example, EUR/JPY binary closes at 18:00 GMT and EUR/USD binary ends at 00:00 GMT. IQ option also offers End of the Month expiry.
Your correctly predicted binary trades will be paid with around 85% profit. The lowest payout is 65%, and the highest offered is 93%, which is also one of the highest in the industry. Usually, you receive better payouts with shorter expiry times and more volatile assets, such as EUR/USD and GBP/USD. In binary trading, you are risking only the amount invested to purchase the option.
In terms of graphical tools and indicators, the IQ Option platform outmatches all other trading software. Traders can easily set up strategies on the chart based on the RSI, MACD or a combination of tools (16 indicators in total). There is also a market news feed, which is usually updated every 10 minutes. You have all instruments for technical and fundamental analyses in one window.
The assets list for binary trading is quite long and includes 35 forex pairs, 23 equities, and 3 commodities. Traders can speculate on over 60 different assets and make profit with correct forecasts. The quotes are provided by DevExperts with the following formula: (Bid + Ask)/2.
The mobile app doesn’t skimp on features either. Actually, it is quite impressive; while other brokers struggle to add indicators on their web applications, IQ Option succeeds in delivering powerful tools to your fingertips.
Traders can have real trading accounts in US dollars, Euros or Pounds. The minimum deposit required is $10 and the minimum trade is only $1. The maximum deposit is unlimited, but there is a limit of $5,000 on a single trade. To fund your trading account you can use number of e-wallets including Skrill, Neteller and WebMoney.
The currency of the account is set by the first deposit. If the currency on the bank account is different, funds will be converted automatically. To complete your real account registration, you need to provide a copy of your ID and proof of your address.
For your trading strategy, you can let your imagination work and create some real art on the charts. IQ Option has all the tools you need, so you can trade double tops, double bottoms, breakouts, retracements and whatever partners you want.
The platform allows you to set up the charts in 5 second, 30 second, 1 minute, 5 minute or 1 hour candles; there are 18 time frames total. That makes it easy for you to trade with your 60 second, 5 minute and even daily expiry strategy.
The returns on successful trades are also important for your strategy, and IQ Option has some of the best payouts on the market: up to 93%.
IQ Option Disclaimer: IQ Option service is not available in a number of countries, including: USA, Canada, Australia, and Japan. The binary options product is also prohibited in all EEA countries.