Why Choose IQ Option
IQ Option has gained massive popularity ever since it was launched in 2013. It is now considered to be one of the fastest-growing online trading platforms. More than 40 million registered users are trying to make a fortune. The platform is best known for offering a seamless trading experience with assets like ETFs, stocks, cryptocurrencies, and forex.
Traders who are interested in cryptocurrency trading find IQ Option one of the best platforms, as there are several options available. Users can access the platform on their mobiles and desktops, which makes it highly convenient. Thus, traders can trade any time they want and from any location.
Users have mentioned the excellent customer service of the platform, which is available round the clock. Also, its low minimum deposit of just $10 has been able to attract many traders. Though the platform offers excellent educational resources, it does lack some of the most advanced features that are present in MetaTrader 4. Many traders consider it to be a major drawback.
IQ Option—Best For:
Highly Recommended For:
Those who need a user-friendly platform without complex steps! Its educational tools are helpful in managing complex situations. This platform is also recommended for those who require access to a diverse range of assets.
Top Features:
Overall Score: 4.5/5
IQ Option Pros & Cons
Pros:
Cons:
Fees and Commissions
Asset Type | Fee |
Stock/ETF | Varies (from $0) |
Forex | 1:500 leverage |
Crypto CFDs | 1% fee per transaction |
Commodities | Varies by asset |
Withdrawal Fee | 2% on second withdrawal |
The platform charges a 2% fee from the second withdrawal within one month. There are competitive spreads on the major forex pairs. The trading fees keep varying depending on the asset.
Do traders have to pay additional for ETFs and stocks on IQ Option?
No, it offers commission-free ETF and stock trading. But traders might have to pay fees related to currency conversions, which depend on the withdrawal and deposit methods that are being used.
IQ Option Safety: Investor Protection for Indian Traders
Score 4.3/5
Known to be one of the most trusted and regulated brokers in different jurisdictions, IQ Option does offer investor protection. Due to privacy concerns, its regulatory information is not disclosed, but it is assured that it works under different international regulations and laws. It is one of the most reliable options for Indian traders.
However, it is to be noted that this platform is not listed on stock exchanges. Investors may not have the compensation protections they tend to have from other financial institutions.
Regulator | Investor Protection |
CySEC | Up to €20,000 |
ASIC | Up to $1,000,000 |
FSA | Not applicable in India |
What are the deposit and withdrawal options?
Score: 4.2/5
The platform offers multiple deposit options for traders. The accepted options are bank transfers, e-wallets, and credit cards. But Indian investors need to keep in mind the currency conversion fees that are applicable during the conversion of AED to USD. Also, withdrawals can take 24 hours for e-wallets. Bank transfers can take 2 to 8 business days.
Deposit & Withdrawal Methods Summarized:
IQ Option Mobile App
Score: 4.7/5
The mobile app is certainly one of the best features of IQ Option. It offers a super smooth interface. The login options are secure with loads of trading tools. Trading is certainly easy and convenient on the app. However, the app doesn’t offer a dark mode, which is a drawback.
Top Features of the App:
Final Thoughts
IQ Option is the perfect platform for traders of different levels. This is especially the perfect platform for those who wish to engage in cryptocurrency trading. While it may not offer advanced tools like others, its excellent customer service, its low minimum deposit, and its reliability make it a perfect choice.
Open Trading Account With – IQ Option
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FAQ
Q: What can be traded on IQ Option?
A: There is a range of assets that includes forex, stocks, ETFs, commodities, and cryptocurrencies.
Q: What is the minimum deposit on IQ Option?
A: It is just $10.
Q: Is the platform regulated?
A: Yes, this platform is regulated in various jurisdictions. This includes CySEC in Cyprus and ASIC in Australia.
Q: How do traders withdraw from IQ Option?
A: Traders can withdraw through bank transfer, credit card, or e-wallet. It can take up to 8 business days, depending on the method.
Q: Does IQ Option offer Islamic accounts?
A: Yes. There are Islamic swap-free accounts for traders who follow Sharia law.
Arjun is a seasoned stock market content expert with over 7 years of experience in stock market, technical & fundamental analysis. Since 2020, he has been a key contributor to Strike platform. Arjun is an active stock market investor with his in-depth stock market analysis knowledge. Arjun is also an certified stock market researcher from Indiacharts, mentored by Rohit Srivastava.
Shivam is a stock market content expert with CFTe certification. He is been trading from last 8 years in indian stock market. He has a vast knowledge in technical analysis, financial market education, product management, risk assessment, derivatives trading & market Research. He won Zerodha 60-Day Challenge thrice in a row. He is being mentored by Rohit Srivastava, Indiacharts.
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