IQ Option Review - Scam or Legit?

With today's review, we will take a look at IQ Option to determine if it is worth spending money on or not. It is one of the most popular binary trading platforms around with many who claim to have made thousands by just clicking a few buttons. No such thing as easy money in this world so this is worth investigating right?


Website

iqoption.com


Who are the Founders?

Dmitry Zaretsky is the sole founder of IQ Option.


What Does It Cost?

IQ Option is completely free to join, however, you will have to put money in your IQ Option account in order to trade/bid. There are also a few costs that cannot be avoided once your earnings are paid out.


Short History

Russia first made use of the program back in 2008 as a way to detect scam brokers; however, the founder saw more potential in the program. IQ Option was then founded and released to the public in 2013 as a simple trading program, but it took off almost instantly with hundreds of new members each week. The company has since developed apps for android, apple, and so forth. IQ Option is now a very popular trading program with thousands if not millions of members, and it continues to grow.


How Does It Work?

After creating an account and depositing funds, you will be able to trade in a manner of speaking. First, you choose between stocks, cryptocurrencies, commodities, ETF’s, forex, or options. Once you have decided what part of the markets you want to “play”, you will have to choose the currency, stock commodity, and so forth depending on your previous decision, you want to trade with. Once you made that decision, you will get a flowing/moving graph showing you how the market is changing, either falling or climbing. All you have to do is try to predict whether it will go down or up and place a bid anywhere from $1 and up. If your prediction was right, you will earn a certain % of the money you bid plus the money you did bid. The % of the money you earn will depend on what currency, stock and so on you chose. If your prediction was wrong, you lose the money you bid. You are allowed to change the platform you are bidding on if you want, and you can bid on multiple platforms at the same time. Once you have made money, you can pay it out into your bank account.

Note: You DO NOT buy stocks and own them, you bet on the direction that they will take. In short, this is like betting on the markets.

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Scam or Legit?

IQ Option is most definitely not a scam. I would rather describe it as a legitimate "gambling platform" where you can win some and lose some. They pay "winnings" timely and without any issues.

To put this in a manner that is easier to understand; If you are an expert on the markets or have an interest in learning how to trade, you can use your knowledge and "gamble" on a topic that you have knowledge about. Almost like "controlled gambling" where you have more power over the bets you place instead of just blindly using a slot machine where you have zero control. IQ Options has all kinds of tools available to make predicting the market, much easier. If you have no idea how market trends work or know absolutely zero about trading, yeah, you are most likely not going to "win" much and lose plenty instead. 

They have all sorts of training, helpful guides, and so forth and there is plenty of free training on the internet as well when it comes to learning about trading and market trends. I do suggest that one build up some knowledge if serious about winning bets. 


What About Support?

IQ Option offers great support 7 days a week, 365 days of the year and you can always count on them to help solve whatever problems may arise. Support is given by phone, online chat, or via email. There is also the live chat area where members can communicate and/or help each other out.


User Interface

The platform runs smoothly in general and it is easy to navigate around. Not completely newbie friendly and if one does not have a general idea of indicators, trading graphs, and so forth, there is a learning curve involved. Tools are easy to use and accurate.

Although it is common knowledge for most, I do feel like mentioning that internet speed plays a huge role when using the platform. With slow internet speeds, a bet will not register on time since seconds can sometimes be the difference between winning a bet or losing it.

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IQ Option - Pros


The support offered is quite excellent.

A free demo account to learn and practice with so one does not waste money.

They provide videos detailing how to use the tools offered by IQ Option.

They have a charity that provides people in need with food, water and so much more.

There is more than just one trading option, allowing you to pick one that works best for you.

The program works on mobile devices, so you can trade on the go.

You can either install IQ Option on your computer or just trade using IQ Option home on a search engine.

Tools and features are included to help you predict the market.

IQ Option is available in over 170 countries.

IQ Option prides itself in security for their members and their personal information along with their money and accounts.

Deposits and withdrawals can be easily done with very little fees and in a similar way

Manage your profits and losses with the risk management feature. 

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Cons

IQ Option is banned in certain countries.

It can be rather tricky to learn how to use the indicators provided by IQ Option if you are not familiar with trading.


Conclusion...

IQ Option IS NOT a sure way to make money and should be seen in a similar way as gambling, especially if you are a newbie at binary. If you are low on cash, I DO NOT recommend using this program as a means to get you out of financial trouble! Many have success with the program and make lots of money, however, they have lost quite a bit as well while learning. I also found that it is much easier to make money with the demo than it is with the real account. With the demo, one is not as cautious and trades more freely with higher amounts. With the real account, one is more cautious and thus only uses small amounts that will not give high profit.

If you have some money to spare, without hurting your bank account, this is a great form of entertainment. You win some, you lose some.


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IQ Option – Main Features



Mobile

The IQ Option app can be downloaded on your phone or tablet, allowing one to trade with their account wherever they might go. It can be downloaded on either the Google Play Store or Apple store. The app works on both Android and Apple IOS meaning anyone with a mobile device can use IQ Option on the go or even on the couch, it is your choice.


Indicators (Technical)

IQ Option offers 15 different technical indicators which can be used to help identify trends or patterns making trading easier and giving you a better chance to be successful. The indicators are as follows:

  • Stochastic Oscillator
  • ATR
  • Alligator
  • Belkhayate Timing
  • MA
  • ADS
  • Fractal
  • Bollinger Bands
  • Volume (exchange)
  • Awesome Oscillator
  • DPO
  • KDJ
  • MACD
  • CCI
  • Parabolic SAR
  • RSI
  • Ichimoku cloud



IQ Option Accounts

There are 2 accounts one gets access to after joining the program. One is a demo account where you can basically practice or learn to trade. The demo account gives you $1000 so you can trade as much as you want on any markets, however, the money you get or earn cannot be paid out as it belongs to the company.

The second account is your personal account. You will have to deposit a minimum of $10 to activate it, and then trade carefully. If the money is lost, you will not be getting it back unless you win a few trades. The account will have to contain a minimum of $2 if you want a payout.


Charting Tools

Once you have joined, you will get access to 5 main charting tools that can be used to assist you in predicting what will happen with the markets making it easier to get it right. Keep in mind these tools have a learning curve to them, so do not expect it to be as easy as pie.

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Markets/Assets

So trying your luck on a single market/asset will not do, that is why IQ Options offers you lots of choices. There are more than 350 choices to be exact, and they are divided into the following categories:

  • Stock
  • Cryptocurrency
  • Binary and digital options
  • Forex
  • ETF’s
  • Commodities

Do keep in mind that all the trading options, each have their own minimum and the maximum amount to trade with, the lowest being $1.


Tournaments

There are always tournaments going. They include daily, weekly and monthly tournaments, with some charging you a registration fee and others are free to join. The reward can be any amount from $10 to $50 000, however, the amount is usually split between the top ten members. All you have to do is trade, and earn more than your fellow competitors.

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Orders

There is order types/setting which you can set to make sure you’re spending/trading loss does not go too far. There are four of these orders and they are as follows:

Pre-Order

This option allows you to set a specific price for an asset in a market at which you would like to make a trade. The trade will then be done automatically the moment the asset reaches the set price.

Stop Loss Order

By setting up this order, you can choose a specific cash amount at which your trades will be closed to ensure limits are not overtaken.

Take Profit Order

Opposite to the stop-loss order, this option will allow you to close a trade once your cash amount reaches the desired profit amount you chose.

Multiplier Order

This lovely feature allows you to increase your chances of great profits dramatically by setting up a multiplier (20X, 50X, or 100X) which will increase the price movement of the asset. Do keep in mind that it does not only increase your chances, but it can also put you at great risk.


Video Tutorials

IQ Option provides all of its members with video tutorials completely free of charge. These videos include topics like, How to deposit funds and so forth. They are there to help members not only understand trading but the program and its tools as well.

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Calendars

A literal calendar that contains all events that can influence the markets, and the date on which it takes place.


Affiliate Program

IQ Option offers two different affiliate programs.

The first option:

50% Commission on a collective scale. Basically, all the profits from all the traders under you will be counted up into one amount. 50% of the large collective amount will then be your commission.

The second option:

40% individual Commission meaning you get 40% commission on the profits of each individual under you. This way, if one person did not do so well, it will not impact the total amount of the others.


CPA Program

With the CPA Program, you will get paid a certain amount depending on how much your referral deposits and which country they are from. These payments can be as low as $35 or go as high as $1200. You will get $500 if your referral deposits $150-$299, $800 if the referral deposits $300-$499, and $1200 if $500+ is deposited. You will then receive n bonus of $10-$170 depending on the country they are from and on what device they use to run the program.


Visit IQ Option


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I would really like to prevent this review from being a one-sided-opinion.

I can only accomplish this if you leave a comment to tell us about your own experience with IQ Option to help others make a more informed decision.   It would be much appreciated! 

Thank You


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