IQ Option review Singapore
History of the IQ Option Review
IQ Option was officially founded all the way back in 2013.
By the next year, they already had almost a million registered users. Growth since then has been exponential, as more and more traders jump onto the rising tide of online broker financial trading.
Over the years, they have continued their remarkable growth rate, adding more features and capabilities to their offering for the clients. By 2016, they had over 14 million active users and almost $7 million worth of traders’ withdrawals a month. There was a lot of activity for the platform as well as the traders using this system.
By 2020, the number of registered users was up to nearly 50 million, a staggering amount for any online broker for trading.
With this significant client base, IQ Option saw nearly 1.5 million transactions daily and withdrawal amounts of over $20 million from clients' profits every month.
IQ Option Awards
Over the years of their expedited growth, IQ Option has earned a myriad of awards for their excellent service and dedication to their clients.
Within their first year of operation, they received 7 different awards. Each of these accolades commemorated their success in the field of binary options trading.
The next few years saw even more awards going their way, with titles for unmatched quality, excellence, and a dedication to their clients. They also earned several accolades for their technological capabilities with their trading platform and app for mobile use.
Overall, this platform boasts a wide array of awards for their outright dedication to trading, with a particular focus on binary options.
Their clients, in Singapore and beyond, have stood by them as they have become one of the biggest brokerages online.
IQ Option gives their clients with three unique options to choose from regarding account, depending on how they want to trade and their experience levels.
- Training account.
- Real account.
- VIP account.
Let’s break down each of these accounts through this IQ Option review.
The training account gives users a demo that doesn’t cost a thing. This comes with $1000 of refillable virtual money that cannot be withdrawn but can be topped up at any time. You can utilise this to understand the marketplace and the various systems involved on the platform itself.
Most of the features intrinsic to this broker are present on this one and users are not required to make any deposits or even enter their account details before they can start using it.
It is a great tool in gaining a deeper understanding of the world you are in and as a prelude to actually starting for real.
The Real Account
IQ Options real account is exactly what it claims to be.
This is their regular option, where traders can stake their capital to make trades online. In this case, you will be required to enter your account details and put in a nominal amount of $10 beforehand, using the money you put in to initiate trades.
With 500+ assets to encounter, you will not be struggling to find something to invest. Users are also eligible for their weekly tournaments, though these may be subject to availability at the time. The tournaments allow traders to compete with one another to see who has the most profits by the end of the period.
Real account users also get access to 24/7 online support for any questions or issues they are facing.
The VIP Account
This account is available to clients who deposit more than $3000. There are several additional perks they are given when a VIP. The first of these is increased profit margins from successful trades, up to 3%. This increase to profits makes the potential for positive return significantly higher, considering the number of trades traditionally made each day.
VIP account users will also have access to their own personal account managers, which provide hand-on service and support. This can be incredibly useful for managing your account, your trades and essentially everything else. They are there to support and guide you whenever you need it.
Finally, VIP account holders also gain entry into the tournaments held by IQ Option completely for free.
Considering you can win even more money through these tournaments, this is a powerful advantage over the standard real account.
Internal tools for market analysis
IQ Option prides themselves in providing a wide range of tools dedicated to analysing the market and increasing your success in trading.
These include market news analysis, where you can filter the current affairs affecting each of the trades you make. This helps to identify the impact that breaking news will have on the market and how to best position your trades as a result.
On top of this, IQ Option provides a wide range of market statistics. These involve various charting options and indicators, which can be used to assess related market activities and how they will ripple across. You can view multiple charts at one time and track their relative movements to help make informed trades at the opportune time.
There are also graphical tools that can help you track movements in the market and assess the lengths of bullish and bearish runs. The layout of the charts on the platform provides all the information you will need to trade in one place, so you can analyse the whole picture.
How to withdraw funds and deposit?
When you decide you are ready to really start trading, you must first move funds onto the platform.
This involves moving capital from your bank account or e-wallet into your IQ Options trading account.
Fortunately, as such a high-profile trading platform, there are many transaction services available to facilitate this. Simply pick the one you are most familiar with and comfortable using and make the transfer of funds across. From here, you can use this capital to make trades.
The deposit minimum is only $10, a small entry requirement that facilitates users with a variety of capital at hand.
Withdrawals work in much the same way as deposits. Simply select the transfer service you want to use to move finances from your trading account to your bank account or e-wallet.
The upside of transferring out is that there is no amount too small, so you can withdraw any amount at any time. If you want to withdraw less than $2 however, you must contact the support team.
Depending on the service you use, there will be a small waiting period for these transactions to be processed but these are generally instant or last less than a day or two, at maximum three days.
Overview of the merchant profile
IQ Option has been around for close to a decade now, and as a result they have built up an impressive collection of merchant affiliations that traders can use to make transactions between personal and trading accounts.
This is also testament to the trustworthiness of the platform, with so many signed on affiliates.
The merchants available include:
- Visa / Mastercard.
- Perfect money.
- WebMoney WMZ.
These are accompanied by a list of banking services also attached, largely related to your region. The primary focus from here is to provide easy and effective merchant solutions to make transfer an easy, fast, and intuitive process for all.
Overview of the trade term
IQ Option offers their traders over 500 assets to choose from.
These are each grouped within their own financial instruments, of which there are a range to select from:
The stock market involves the various entities listed on different stock exchanges around the world. These are the standard assets most traders utilise to make their trades. They include some of the most famous and influential assets currently on the market.
THis broker has assembled over 180 stock options for trade via CFD. A contract for difference (CFD) involves trading derivatives on the market maker's platform. In this case, you are not buying or selling these stocks directly, but rather trading on their relative price movements.
The benefits here are that you can use leverage supplied by the broker to boost trades and there are always trades available to make, regardless of actual availability on the marketplace.
Options trading, also known as binary options, are derivatives that involve only two possible outcomes. These can either be higher or lower than the current price, and traders must predict the direction they think the movement will be.
Options trading is some of the simplest forms of trading for this reason and allows users of all skill levels to experience the market. They have generally short expiration times, which you can set, and therefore are ideal for binary trading Singapore based.
There are over 86 IQ Option binary options available.
Forex trading is another hugely popular financial instrument. Users trade on specific currency pairs, with the values of each relative to the currencies involved in the pair.
IQ Option Forex Singapore has nearly 50 different pairs to trade on, providing a wide range for users interested in this particular sector of the market.
Crypto has become a hot topic of late and trading on these pairs is a much sought after experience. Much like Forex, these work relative to the pair involved.
IQ Option has an impressive collection of over 35 cryptocurrency paris for their clients to trade on.
A commodity is an asset that is essential to production of other goods and therefore does not experience much volatility on the market. Many traders add these assets to their portfolio to safeguard against losses through inflation.
IQ Option has the assets most sought after in this regard, though there are not many under this instrument regardless.
An Exchange Traded Fund is a portfolio of various assets, usually from a given exchange. This provides traders with a diverse investment option that reduces risks attributed to a single asset.
There are over 23 ETFs available on IQ Option, each with an impressive consortium of assets involved.
Additional features of the IQ Option terminal
Assembled on this brokerage system are some of the most detailed features designed with the intrinsic intent of improving the clients overall experience within the marketplace.
They include the in-depth analytics tools that you have at your disposal, tracking micro movement in the price values of assets.
You can even incorporate aspects like the ever useful stop/loss orders that limit the amount you are willing to invest and cutting short trades that exceed this.
Beyond this, there is impeccable user support that lives just a few clicks away from your native platform, giving the power of accessibility and security right at your disposal.
With VIP access there is even a personal manager to give informed and relevant advice on everything market related, from investment opportunities to niche featurettes that can play substantial roles in your growth.
Speaking of which, this brokerage is all about giving their clients a competitive advantage out there, so they have a consortium of educational material to improve and inspire. These are critical to learning the intricacies of the market and how to gauge impending impacts.
These can be reached through either applications, mobile or desktop, and fit right in amongst their already clean and efficient offering.
The best way to see if IQ Option is reputable and a good fit for your trading style is to analyse the reviews on them.
Many of these have only glowing accolades for the platform and their offering. They have rated IQ Option very highly on the list of online brokers, with particular emphasis on their impressive selection of binary options.
There are many reviews online for you to go through and see for yourself.
As far as we are concerned, this platform is doing everything right and providing an excellent service for their large client base.