Is IQ Option a good broker for new traders?

trading operations screenshot

IQ Option is a growing online investment platform that allows users to trade stocks, forex, cryptocurrencies, and options.

IQ Option initially offered only binary options trading; its early success allowed it to diversify and become a popular platform for many types of investing.

Tens of millions of users have accounts on IQ Option, and users withdraw 10 million dollars from their accounts monthly.

Part of the appeal of IQ Option is that the minimum deposit required to begin trading is so low. One can start trading after depositing only $10, and trades can be as small as $1.

IQ Option also offers practice accounts where users can trade $10,000 worth of imaginary money to learn investing strategy.

The practice accounts and small trades make IQ Option an ideal place for new traders. IQ Option is available in many different languages.

Is IQ Option available in all countries?

No, IQ Option is not available everywhere. Many online investment platforms are not available in Canada or the United States, and IQ Option is no exception.

Spain, Japan, Israel, Turkey, Australia, Russia, Romania, The Netherlands, and Italy are also not accepted. IQ Option is based in Cyprus and is regulated by the laws of that country.

Is IQ Option difficult for new traders to use?

Neither the mobile app nor the browser-based trading tools are much of a challenge for a new user to understand. The signup process is a bit more complicated.

To create a new account, a user will need to send copies of a passport or a national ID card for photo identification.

IQ Option will also require proof of address; a utility bill showing one’s address is sufficient proof. One cannot use a driver’s license or a health card instead of a passport or national ID card to prove identity.

How does IQ Option deal with deposits and withdrawals?

One can deposit money to IQ Option without paying any fees. The minimum deposit is $10. One can deposit with a credit card, debit card, or e-wallet.

It is not yet possible to deposit from a PayPal account. One’s bank or credit company will usually not have any problem with sending money internationally over the internet, but there is the possibility that it will.

Sometimes one will need an e-wallet service such as Webmoney to complete the deposit. After successfully depositing money from your bank once, your card will work without having to re-enter your data.

Many reviewers recommend IQ Option because of its faster than average withdrawals. With an e-wallet, one can receive the money they withdraw in a single day.

With bank transfer, it can take more than a week to receive your funds, so you are better off with an e-wallet if you want to be able to withdraw quickly.

One can withdraw almost as much or as little as they want, with a minimum withdrawal of $2 and a maximum of $1,000,000 per day…
 
Continue reading the article and learn more about IQ Option on Daisy Linden’s blog.
 
 

Related Posts

Leave a Reply

Your email address will not be published. Required fields are marked *