IQOption Review

Since their establishment in 2013, IQOption has been making waves among traders in the online trading community. More and more traders have been flocking to this binary options broker for the simple fact that they are able to offer a professional level of service and a very different feel to the other cookie cutter brokers out there. At present, more than 7 million trading accounts have been opened with IQOption and each day the platform accounts for more than 1.5 million transactions. Operated by IQOption Europe Ltd, the platform is based in Cyprus and regulated by the Cyprus Securities Exchange Commission (CySEC) under the CIF license number 247/14.

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Platform Overview

Unlike how many binary brokers in the industry are relying on white labeled platforms, IQOption uses their own proprietary trading platform to give their traders access to the financial markets. Their trading platform is very well designed and allows traders to conduct speed trading with ease, with the time increment spreading over a range of 5 minutes. Trading charts are updated in real time and the trading interface with its brightly colored function buttons provides traders with visual clarity. In addition, IQOption has also provided trading apps which traders can download and install on their devices to enable them to trade on the go.

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Reliability/Security

One of the major benefits which IQOption is able to provide their traders is the assurance that their money is safe with this broker. This is due to the fact that the regulatory oversight provided by CySEC ensures that the broker abides by strict regulatory measures to protect the funds of their traders. In addition, the broker is obligated to become a member of the Investor Compensation scheme. It is of little wonder that IQOption has managed to win numerous awards over the past few years, from major industry reviewers regarding their reliability.

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Scam Ratings

Complaints – 9/ 10

In terms of their online reputation, IQOption has a good standing among the online trading community. Being an established broker, there is a lot of information available online about this broker and most of it is positive. In fact we can hardly find anything negative about IQOption online.

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Bonuses – 6 /10

We were quite surprised that IQOption doesn’t seem to offer new traders any kind of bonus to entice them. Depending on how you view things, this can be a positive thing or a negative thing. It’s negative if you are looking to stretch your limited investment capital. However, the fact that you don’t have to meet any minimum trading volume means you are entitled to withdraw your money anytime you choose. Nevertheless, there is a consolation as IQOption does provide a free demo account for would be traders to try out their trading platform with.

Customer Care – 8 / 10

IQOption strongly believes that quality customer support services should be available at all times. Hence, they ensure that the customer support team is reachable at all times 24 hours a day and 7 days a week. Apart from email, traders can contact IQOption for assistance through the telephone.

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Price Manipulation – 10/10

From observing the expiry rates, we can find no indication of prices being manipulated on the part of IQOption. The expiry rate is based on the average of the BID and ASK price supplied the price feed provider.

Security – 10/10

The security at IQOption is airtight as one of the regulatory requirements by CySEC is the fact that IQOption has to provide adequate security measures to safeguard the integrity of their website and clients’ personal information. Traders can find all the web traffic regarding personal and financial information between their computers and IQOption are encrypted with SSL encryption.

Withdrawals & Deposits 8/10

For their clients’ convenience, IQOption has provided several payments options for funds deposits and withdrawals. The available methods include VISA, MasterCard, POLI, Skrill, Neteller, WebMoney and wire transfer. As for the time required to make a withdrawal, IQOption make it a point to process the withdrawal requests within 3 working days. However, it should be noted that it can take as long as 9 days for the money to appear in one’s bank account.

Conclusions

The fact that IQOption is regulated means it is a safe and reliable broker and traders can trust this broker to keep their money safe. In addition by providing a free demo account, IQOption make it easy for anyone to learn about the intricacies of binary options trading without having to risk their money. So our team has every reason to assert that this broker is reliable.