The ability to make a full-time income by trading different assets has been an elusive goal for many traders. Time and again, traders often try to find systems which can help them achieve such levels of profitability. The question is whether there is such a profitable system or not?
IQ Option promises to help you trade profitably. It is a product which is not just exclusive to forex but also can work with stocks and other commodities.
Thus, it is a system which promises to teach you how to make a full-time income with the help of trading. We will today go into the details of IQ Option to help you understand more about it. We will also provide a concrete answer to the question is IQ Option a scam?
About IQ Option:
Let us first delve into the details of IQ Option system. We will help you understand what exactly it offers.
IQ Option offers you an online trading platform. The online trading platform supports multiple asset options like:
• Binary options
The trading platform had launched in 2013. It is operated by the parent company IQ Option limited. Over the years, the platform has amassed over 20 million users. It is one of the very few platforms which are trusted by such a large number of users.
The company is situated in Cyprus. It follows EU regulations. It is under the jurisdiction of the Cyprus Securities and Exchange Commission. Moreover, the company is authorized to sell their products and offerings globally.
What does IQ Option consist of?
IQ Option provides you with multiple options when it comes to trading. These choices are not just limited to binary options.
Over the years, the platform has been updated numerous times. These days, not only it allows you to trade assets but also exchange-traded funds and various other asset classes like cryptocurrencies and stocks. The digital platform is easy to use.
Let us first delve into the features of the IQ Option platform.
1. Contracts for differences on stocks:
You can trade CFD’s in over 7400 companies. Most of these companies are listed on NASDAQ and NYSE.
The platform also offers you to trade in popular cryptocurrencies like Bitcoin, Ethereum, Ripple, Litecoin, and Monero among others.
3. Exchange traded funds:
Exchange traded funds also known as ETFs are a recent addition to the platform. They allow you to invest in a basket of assets directly. The advantage is that you can trade them exactly like regular stocks. There are over 4280 ETFs listed on the platform.
When it comes to forex, the platform offers over 188 currency pairs. Thus, you can easily trade in the currency pair which you prefer.
The platform also offers options related to many different assets. These include stocks, indices, and commodities among others.
The total number of options available on the platform is over 10 million. Thus, if you’re an options trader, IQ Option is the perfect platform for you.
The advantage of IQ Option is that it provides you with the ability to trade different assets from a single platform.
Does IQ Option provide demo accounts?
The best thing about IQ Option is that it also offers demo accounts. You can use virtual funds to practice your trades. You can use these funds to test your strategy or to familiarize yourself with the platform.
So what are the types of real accounts offered by IQ Option?
These are the real accounts offered by IQ Option are of two types.
1. Real account:
The minimum investment in a real account is $10. It will remove all the limitations associated with a demo account. You can trade in over 70 different assets. You can easily withdraw the amount whenever you prefer.
2. VIP accounts:
VIP accounts need to have a minimum deposit of $3000. The advantage of having a VIP account is that you will get a dedicated personal manager.
In case, you have any questions or queries regarding the platform; you can contact your personal manager. Additionally, you can get access to monthly reports.
Thus, when you’re looking for a trusted platform to trade various asset classes, you can definitely go with IQ Option.
What are the payment options provided by IQ option?
The main advantage of IQ Option is that it provides a wide variety of payment options. Some of them include:
• MasterCard credit card
• Visa credit card
• Visa Electron
• Money Bookers
Additionally, you can withdraw with the help of wire transfer.
What are the requirements to deposit money in your IQ Option account?
As per regulations, you will have to submit your personal information before depositing money into your IQ Option account. The personal information includes:
• Mobile Number and other phone numbers
• Personal identification information
• Prior trading experience
• Photo ID
Once this information is verified, you can deposit money in your IQ Option account.
Is it easy to sign up?
IQ Option allows you to sign up for a free account using your Google account or Facebook account or your email. Thus, it is pretty self-explanatory and straightforward to sign up.
IQ Option affiliate program:
IQ Option provides you with an affiliate program with the tired structure. You can use it to make money in addition to trading on the platform.
The platform offers a 50% revenue share for each client which you recommend. You have to however sign up for an IQ Option affiliate account for promoting the platform. You will have to submit your KYC information before you can start promoting it.
Every IQ Option affiliate is provided with a dashboard to track the traffic and conversions. Thus, the affiliate program is an additional way to make money with the IQ Option.
Is it suitable for you?
The question which arises is, who is the IQ platform suitable for. Two types of individuals can use IQ Option easily. These include:
1. Any individual who has prior experience to trade in various asset classes.
2. Any individual who has used platforms like 24option.
What are the shortcomings of IQ Option?
There are a few shortcomings of the IQ Option platform. We will highlight them below.
1. A bit advanced:
If you’re entirely new to trading various asset classes, IQ Option might not be the best option for you. It does not hold your hand through the trading experience.
It is a trading platform. It does not advocate any strategies or helps you with money management.
Fortunately, this is the only shortcoming of the IQ Option platform. In case, you’re looking for some trading courses; you can head over to sites like Udemy before using IQ Option trading platform.
We will now summarize our analysis in pros and cons to help you understand IQ Option better.
• Various asset classes on a single platform
• Innovative trading platform
• Demo and live accounts available
• The platform has won 2017 award of excellence
• Legally compliant
• Availability of mobile app
• Multiple deposit options
• Withdrawals available through wire transfers
• Not suitable for complete beginners
Is IQ Option A Scam?
So, if you have been thinking is IQ Option a scam?, The answer is no. It is an entirely legit platform which allows you to trade in multiple asset classes from a single platform. It is a highly reliable and reputed platform.
It has won numerous awards which speak volumes about its credibility. It is one of the best platforms available currently to trade in multiple asset classes digitally. If you are a trader, it is a platform which you should definitely choose.
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