IQ Option is a very popular binary trading program with people claiming to have made thousands of dollars. Though this begs the question, is it all just a scam or does IQ Option really work? Well, in order to answer the hundred dollar question, we have to look at the facts and review the program. So let us review and see if IQ Option is worth the trouble.
IQ Option – Quick Overview
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.
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 of 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 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.
Scam or Not?
IQ Option is most definitely not a scam. Yes, you can lose money, but you can also make money and there are thousands, maybe even hundreds of thousands of people who have made money with the program. There are even people that use IQ Option to earn an income because that is how good they have gotten. Not only this, but the program has existed for years now, and they have built up quite a reputation. It has gotten to the point where other people have started creating similar programs, because it is so successful.
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.
IQ Option – Features
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.
IQ Option offers 15 different technical indicators that 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
- Belkhayate Timing
- Bollinger Bands
- Volume (exchange)
- Awesome Oscillator
- Parabolic SAR
- Ichimoku cloud
IQ Option Accounts
There are 2 accounts one get 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 a $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 company.
The second account is your 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.
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.
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:
- Binary and digital options
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.
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.
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:
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.
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.
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.
A literal calendar that contains all events that can influence the markets, and the date on which it takes place.
IQ Option offers two different affiliate programs.
The first option:
The first option is 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:
The second option is a 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.
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.
The support offer 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 on security for its 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.
IQ Option is banned in certain countries like Russia, the United States, Japan and so forth.
There are sometimes glitches if one uses Chrome, Firefox and so forth to run the program.
It can be rather tricky to learn how to use the indicators provided by IQ Option.
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 to trade. 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 trade more freely with higher amounts. With the real account, one is more cautious and thus only use 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.
Do you use IQ Option or used it in the past?
Please be so kind as to tell us about your experience, it will help others to make an informed decision before they sign up.