IQ Option is one of the largest, and fastest growing, binary options and forex (FX) brokers trading today – find out why here. Although binaries are currently withheld from UK traders, you can still use ‘FX Options’, similar products with limited risk but upside. We look at the v4.0 platform, layout and how to get the most out of your trading account:

  • How to use the platform
  • The benefits of the mobile app
  • Payout Information
  • Robot function
  • What additional functions to use

 

 

IQ Option Group has two legal entities: IQ Option Europe Ltd, based in Cyprus, which provides services to the EU clients and is regulated by CySec. Binary options are prohibited in the EEA. IQ Option Ltd is headquartered in Seychelles, this company provides services to non-EU clients and is not regulated.

Binary and digital options are now banned in the EEA, including the UK, by ESMA. As a regulated firm, IQ Option can only offer trading to professional clients.

However, the good news for EU traders is that IQ Option has released a new product ‘FX Options’ to try and tackle the gap left by binaries. FX Options include the fixed expiration and limited downside of a binary trade, but also offer room for greater upsides. Read the detailed breakdown of FX options below, or jump there via the content menu above.

Despite being relatively new to the sector and emerging in 2013, the IQ option has grown rapidly. This growth was partly due to offering low minimum deposits – making trading accessible to large numbers of traders and ensuring they provide a smooth, enjoyable trading platform. In their words “the ultimate trading experience”. Strongly aligned partnerships fueled growth at a record pace.

CFD, Forex and Bitcoin

Since the company was founded, it has expanded beyond pure binaries. They now offer traditional forex trading, and also CFDs. They have taken the lead in cryptocurrencies, offering direct trading access to Bitcoin, Ethereum and others.

In addition to these new trading options, they have also added risk management features. Tools such as stop losses and take profit have been added to ensure that the forex and CFD traders have all the advanced features they would expect with leveraged products.

IQ Option is not a scam. The firm is CySec regulated (and MiFID compliant) and has also started collecting some of the more prestigious awards in the sector – including ‘Most Trusted Binary Options Broker’ in 2014 from MasterForex-V. The brand continues to grow and innovate and traders will immediately upon registration be offered a demo account (practice account) without requiring a deposit.

Trading Platform

Update of v4.0 platform

IQ Option recently launched the much anticipated v4.0 platform for all traders. It is a visually stunning platform and sets the gold standard for binary options brokers.

The old strengths remain – it is a fully configurable platform. Traders can arrange trading windows as they wish – focus on just one, or manage a whole series – whatever suits the trader best. Our screenshot illustrates one ‘main window’ with three other assets below. All can be traded simultaneously.

The price chart forms the major part of the trading platform. But to the left of the trading area are the navigation buttons to move to different areas of the site (they can collapse if not needed) – and next to that are some powerful technical analysis features.

New technical analysis tools have been provided, and they are available in a small menu at the bottom left of the price chart.

  • Plot type
    • This option allows traders to edit the chart in a format they prefer to work with. Options include the traditional candlestick, line and bar charts – in addition to the standard area chart. Each can be customized according to color and appearance.
  • Time interval
    • This is an extra area of flexibility. It is surprising how many brokers see that the traders want to expand or collapse the time frame of the price chart they are looking at. IQ has added a great deal of flexibility for traders to dive into the price charts and accurately map any trends.
  • Graphic tools
    • A natural progression from expanding the charts is to allow traders to use their own interpretations on charts. With the graphical tools, traders can add trends or support and resistance lines – the tools can be used however the trader wants. This is essential for traders who want to get their timing right – but not always something that is provided on other trading platforms.
  • Indicators (technical analysis)
    • Binary options match technical analysis, and IQ has provided 9 technical analysis techniques that can be overlaid on the price chart. Traders can see the MACD move below the prices as they move, or cover the Bollinger bands. Again, each instrument is configurable, so moving averages can be adjusted to suit the trader. Have you ever wanted to change the smoothing ratio on the Stochastic Oscillator? with IQ option, you can! In all seriousness, these tools are as powerful as any high-end CFD or Forex broker, and IQ has really raised the bar in binary options.

More configurable

IK has added more configurability to the platform, allowing merchants to set their own color schemes and hide or show menus depending on their preference. This also extends to the trading windows, where IK has provided a variety of pre-defined layouts to make trading various assets much easier.

The expiry and amount fields have also had a redesign, with ‘+’ and ‘-‘ buttons being added so that expiry times can be pushed back, or brought forward and the trade amount can be very easily increased or decreased can be clicked – without needing to. to enter numbers.

IQ Option is also trying to add new features to give traders more flexibility. The position top-up facility means that traders can add money to a trade to keep it open if it approaches a stop loss. It offers new choices regarding risk management or trading strategy.

 

 

Maps

There are tools to modify the time frame of the chart as well as the type of plot (for example bar charts or candlesticks etc.) The technical analysis features are a great addition – traders can use MACD, Bollinger Bands or any of the other 8 available analysis add tools. They are instantly added to the chart and traders can refine their trades as needed. The draw buttons allow traders to add freehand graphics to the charts – allowing them to add trend lines or resistance and support levels.

Just above the new analysis options is the sentiment bar for traders. As always, it shows the way other traders are trading the particular asset. Above are options to minimize or close the current asset trading window.

The charting offers experienced traders the chance to perfect the best strategy.

Select an asset

To select an asset, traders can select the arrow at the top of the platform. This opens a new window, where the trader can choose which type of option to use and then the asset category (for example forex or indices) and then select the specific asset, from eur / usd to Facebook shares. Once selected, the price chart for the selected market will update.

There are also ‘tabs’ at the top of the trading area where traders can quickly move to assets or markets they have previously traded. Open positions will also appear here as a new tab – making the switch very easy.

The price chart contains all the relevant trading information. The chart itself illustrates the recent price movements, but on the chart are the vertical lines indicating the purchase date (the time at which a trade must be confirmed) and the expiration time.

Expiration and trade size

On the right side of the chart there is a ‘Time’ drop-down menu, and this can be used to modify the expiry time – changing this will move the purchase date and the expiry time on the price chart, giving a visual indication of the timing . The buttons – / + move the time to the next appropriate time slot.

The other important figures for the trade are also listed on the right. The trade amount is just below the expiry time – the minimum trade value is just £1. The payout for that particular asset is then displayed. This confirms the percentage returned in the event of a successful trade.

Next comes the profit indicator, it shows exactly what figure will be returned if the trade is placed – and it contains the original investment amount. Finally at the bottom right are the trade buttons. It’s clearly marked not only with the appropriate wording, but with arrows to indicate the trade direction as well – and just if that wasn’t enough, an arrow will appear on the price chart as each button is left. the way the price will have to move to trade for the trade to end in profit.

Where forex or CFD trades are opened, the layout will differ. Additional information, such as leverage and stop losses, will appear as applicable. Traders can also select a ‘take profit’ level to close their trade at the desired price.

One Click Trading

The trade buttons at IQ Option are ‘one click’ which allows traders to get the price they want. There is no confirmation window or approval delay. Once placed, a trade will be available in the ‘Open positions’ window, and a line will also appear on the price chart at the strike price. Once the expiration time is reached, a window will appear confirming whether the trade was successful or not, and confirming the profit / loss.

It’s a visually exciting, smooth trading environment, with just enough configuration to satisfy almost every trader. While the emphasis is on looks, the addition of excellent charting and technical analysis tools has raised the bar for the brand – taking what was already an excellent platform and making it the benchmark of the industry. Other brokers may offer more trading choices – but none will offer a better trading platform.

FX Options

FX Options is the innovative new product that delivers the same limited liabilities as a classic option, and the same heads of expiration – but also delivers unlimited price excitement.

With an FX option, a trader can go higher or lower than the asset’s price – but they can choose their own strike price. The payout% varies from -100% (where the trader loses the total amount of the single trade) to 2000% or greater, where the price moves significantly.As the options are subject to a set expiry time, the usual ‘greeks’ apply, and the ‘sell’ value of an option will vary depending on the underlying and the expiry time. However, this means that traders can close out (or sell) their option at any time before expiration – either to lock in profits or to cut losses.

Currently, the trades are only available with 1-hour expiration, and only on the five major currency pairs. This range will certainly be expanded as the brokers take stock of interest in the traders.

The screenshot above illustrates the FX options trading screen. The red / green bar on the right illustrates the number of payouts in a single trade. Just to the left of this is the selection of the strike price for the trader. Changing the strike price changes the payouts. It will also fluctuate as the option moves closer to expiration.

FX Options offers UK traders the following benefits:

  • Unlimited yield potential
  • Potential losses limited to the amount invested
  • Adjustable strike price
  • Expiration time of 1 hour
  • The ability to close a position before it reaches maturity

Moreover, the number of markets offering IQ with FX Options is increasing. Recently added markets include commodities (gold, silver and oil) and indices including the FTSE and S&P 500.

Classic Options

IQ Option released a new form of trading, which they called ‘Classic Options’. It retains some of the fixed risk associated with binaries, but also allows leveraged profit. So they are similar to a traditional investment, but with a built-in stop loss.

The classic option has no short-term expiration and can be closed at any time. This makes it much closer to ‘traditional’ investing. At the moment, IK only offers classic options on US equity assets. This is certainly a popular feature and is therefore being expanded over time.

Traders can choose a strike price. Each level will change the levels of profit and risk of that trade. A user then selects the amount of “contracts” he wants. The cost is relative to the strike price and is clearly shown on the Call and Sit buttons.

Open trades visible from the trade history tab, and can be closed at any time. The current profit and loss on each trade shows the updated status of the option. Overall, the classic options seem to be a good choice for traders who like to use fundamentals rather than technical analysis. As mentioned above, they feel more like a CFD, but with a built-in stop loss to manage risk.

Trader choice

The firm continued to add to their list of assets. In addition, they have expanded their selection of expiration dates as well – especially from the list of binary options. End of day, end of week and end of month are now also available. This is a big step for a broker that previously offered purely short-term trades.

IQ Option will add assets as their users request. The Nintendo stock price has seen a lot of interest recently due to the release of Pokemon Go. The broker was quick to add Nintendo to their list of assets. This reflects the desire to deliver the products that their customers need. The asset list at IQ is now very comprehensive.

Cryptocurrencies

IQ has led the way in making crypto trading available to retailers. They offer trading on a wide variety of cryptocurrencies, including the larger, most traded assets such as Bitcoin and Ethereum. These assets are available to trade as CFDs, or using traditional Forex models.

Non-EU traders can also trade crypto in another way – using Crypto Multipliers. This is effectively the same as using leverage, so profit or loss accelerates quickly. For example, there is a Bitcoin x 100 market where the underlying price is multiplied by 100 – increasing volatility and the potential for profit or loss. This market was so popular that IQ Option added similar products to other leading cryptocurrencies, with a variety of multipliers, from x20 to x50 to x100.

IK Option Mobile App

New iOS version

Apple recently announced changes to the binary market in the Apple store. IQ Option has already responded and developed a new app for iOS that complies with the new rules. Compatible with iOS 9.0 and above, the app builds on the IQ offering.

Forex and CFD trading is available, and the firm will trade crypto-assets once they are released on the full site. The speed with which IK was able to respond to the Apple changes was impressive. They have always been at the forefront of development for mobile commerce. This new offer will be unique in the Apple store until other brands catch up with the new rules.

Android App

The mobile app maintains the simplicity of the trading area on the website and retains the binary chart that makes the trading binaries viable. The layout is incredibly clear and can be tailored to the needs of individual traders.

In addition to the trading facilities, there are also functions to maintain account details, including the ability to request withdrawals from the mobile app. The team developed their mobile offering in-house and the attention to detail is evident.

While some trading apps are bought ‘off the shelf’ to tick a box, this broker has clearly spent time and effort getting their mobile app right. The recent updates have also taken into account feedback from traders using the mobile app and appear to be a further step forward.

Payout

Payouts at this broker are a clear strength. Most traded assets show payouts of around 85%, while some assets reach 91%. (Amount is credited in case of successful investment). As always, the payouts will vary depending on the maturities and the asset chosen.

Forex and CFD payouts will vary according to the performance of the underlying asset. IQ provides many risk management tools including stop losses and leverage amounts for users.

Payouts from FX Options also vary based on the performance of the underlying asset.

Withdrawal and deposit options

Deposits can be made via credit card (all major cards are accepted), as well as bank transfer and online transaction services such as Skrill and Neteller. The minimum deposit is only £10 – the initial deposit determines the account type in which a trader moves. Deposits via Paypal are not available and will result in an error.

A deposit of £3000 will move a trader into the VIP account type – this offers a range of enhanced benefits including enhanced returns on certain markets, access to an account manager and VIP training materials.

Withdrawals are occasionally subject to certain verification processes at IQ Option, including proof of identity. To avoid any dispute, it is always better to clarify these requirements before making a withdrawal. All the verification can then be put in place before money is requested. Non-verification is the biggest cause of delays.

Withdrawals are available via the same payment methods as deposits – namely credit and debit cards, and bank transfer. All withdrawals are free. It is also processed on the same day.

Open Trade Network

IQ Option started with their blockchain based cryptocurrency exchange. It is called the Open Trade Network (OTN) and is built on the Ethereum blockchain platform.

It will be a standalone cryptocurrency wallet and exchange designed to meet the needs of a growing market and regulators who will no doubt want to oversee the operations. In the earliest stages, it is expected that the wallet and the exchange will be available in early 2018.

The opportunity for traders is this; IQ Option does not monetize this project through an ICO. Instead, OTN coins will be awarded to merchants, wallet users and token holders as an incentive to use the platform and provide liquidity.

IQ Options will recoup their investment through a portion of coins held for that purpose. The total number of coins to be issued is 100 million, with 42 million going to the merchants and wallet users over the next two years. Once the platform is live, OTN tokens will be tradable and salable on the open market.

This is an exciting development. Analyst tips regarding this broker are always bearish because of its constant improvement. This blockchain innovation reflects the huge disruptive influence that AI is trying to generate in the financial sector as a whole.

Other features at IQ Option

The brand offers a variety of other features and benefits to their customers:

  • Technical Analysis Icon  – within the trading area there are some technical analysis tools included in the user options. These include trendline tools and moving average and Bollinger Bands indicators.
  • Educational Material Series – it delivers a series of training videos on occasion, as well as one to one support
  • Tournaments – Prove yourself as the best traders and earn extra financial benefits for the tournaments. The firm runs a series of regular tournaments that traders can buy into to increase profits.
  • Bitcoin – IQ Option gives traders the chance to invest directly in bitcoin and other cryptocurrencies via their latest range of CFD-type options. It’s a great option for UK traders looking for simple access to bitcoin and ethereum markets – not always easy to speculate on – until now.