IQ Option is a regulated and award-winning online broker that enables customers to trade a wide range of instruments and underlying assets. Operated by IQ Option Ltd, the licensed broker offers it services to traders across the world.
It is important to note that IQ Option is one of our top and most highly recommended brokers for investors in South Africa.
One of the most interesting things about IQ Option is their incredibly low minimum deposit. You can start trading with only $10 and get access to a proper live account.
Read our full review on one of the most famous brokers out there, or skip straight to the part you are interested in below:
- Trading Accounts and Demo Account
- How Do I Contact IQ Option?
- Deposit and Withdrawal Methods
- Is IQ Option a Scam?
*The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
IQ Option Trading Platform and Versatile Assets
While they originally started as a binary options broker, they quickly became a broker that has it all, from CFDs/Forex and Classic Options trading. This makes them one of the most versatile brokers for online trading. Basically, whichever instrument or underlying asset you can think of – they have it.
The minimum trade price is $1 for binary options and digital options, and $20 for forex and CFDs. The maximum option price is $5,000. If the trader wants to place multiple trades with a variety of instruments, it’s not a problem with IQ options’ platform. All they need to do is select the asset in the upper left corner and the instrument below.
Currently available instruments are:
- Binary Options
- Forex CFDs
- Cryptocurrency CFDs
- Classic options
- Stock CFDs
- FX options
With IQ Option, traders can place trade contracts and options based on numerous stocks, currencies, commodities and indices. There are more than 500 underlying assets, to be exact.
Specifically, there are currently 90 currency pairs available, including all the most popular cryptocurrencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash, Litecoin, IOTA, Dash, Ethereum Classic, Monero, OmiseGo, Zcash or Santiment. Of course, these currencies also include EUR, USD, GBP, RUB, AUD, CAD, NZD and Yuan.
Tip: Check out what Twitter CEO Jack Dorsey recently said about Bitcoin and how you can properly trade Bitcoin CFDs at IQ Option.
As for leverage, IQoption offers leverage on up to 20x for stock CFDs and FX trading of up to 1000x – known as the 1000x multiplier. IQ Option advises customers to use this tool only if they fully understand that higher leverage may mean higher returns, but can also result in higher losses.
IQ Option really is a one-stop-shop for online trading.
IQ Option Unique Trading Platform
Unlike so many other brokers in the industry, IQ Option uses its own software, the IQ Option platform, which they continue to update regularly.
The IQ Option platform is highly developed and entirely user-friendly, so all traders should be able to easily navigate through the site and trading room. This easy-to-use interface allows investors to trade in the office, at home or on the move through their mobile platform.
IQ Option is currently responsible for more than $11 billion worth of trades every month, so it has a proven track record of making trades as simple as possible.
How Do I Trade on the IQ Option Platform as a Beginner?
One thing that makes the IQ Option interface so easy to use is the fact that all of the trading instruments are available on exactly the same dashboard.
All you need to do is:
- Select an asset you want to trade
- Predict this asset’s direction
- Make an investment
- Close the position
Binary options trading is even easier, because the trades close themselves automatically when the expiry time has been reached.
Throughout this entire process, IQ Option offers many charts that display the most recent market trends, so users can make judgment calls with the most recent data at hand. There is also always the option to set your Stop Loss and Take Loss Profit — so there’s no need to constantly monitor trading positions.
For more details and a visual guide on how to trade with IQ Option, check out the video above.
In addition, their platform is multilingual and available in English, Italian, German, Russian, Spanish, Turkish, Portuguese, Chinese, French, Swedish, Korean, Arabic and Indonesian.
Getting Started – IQ Option Trading Accounts
Registration with IQ Option is completely free, and all South African traders can get started with a deposit as low as $10.
Even so, anyone can experience what this powerful trading platform has to offer without spending a penny, through their free demo account.
IQ Option Free Demo Account
All registered South African users have the option of trading with a free practice account, before depositing any money. This means beginners get to learn the basics of online trading entirely risk-free. Experienced traders, on the other hand, have the ability to fully test the IQ Option platform before investing any real money.
The IQ Option demo account gives South African traders $10,000 of virtual funds to practice with, which can be re-filled at any time.
Once investors have practiced and are ready to start trading for real, IQ Option offers two separate account types they can choose from: the Real Account and the VIP Account.
Real Account ($10 Minimum Deposit)
As mentioned before, South African investors can begin trading with IQ Option with the minimum amount of $10, which gives them full access to a Real Account and all trading instruments and services. The number of assets available are 500.
South African traders also have option to participate in different trading competitions and access their numerous trading tools.
All withdrawals can take up to 24 hours.
VIP Account ($3,000 Minimum Deposit)
In order to access the VIP Account, a minimum deposit of $3,000 is required.
In return, South African traders get VIP access to a variety of useful trading instruments and special features, such as:
- Higher profitability rate (3% advantage)
- Personal VIP account manager
- Free tournament participation
IQ Option Education Resources
Trading global currencies can be a daunting prospect for beginners, but IQ Option has the education resources available so that even complete trading newbies can fully understand and be able to take advantage of all that IQ Option has to offer.
Besides their free practice account that is available to all South African registered users, IQ Option offers various video tutorials which allow investors to hone skills and master the mechanics of online trading.
One of the main reasons for the rising popularity of IQ Option among ordinary investors is also the community spirit it offers. If you are not sure or want to ask anything, you can always call upon support or get advice from industry professionals and fellow traders. The best part is that you can do this all directly through the IQ Option platform.
How to Contact IQ Option
The customer support team at IQ Option is available 24/7 through email ([email protected]), phone or online web form.
IQ Option Deposit and Withdrawal Methods
IQ Option takes the security of all its traders very seriously and presents no difficulty throughout the deposit and withdrawal process – which many traders already know can be a frustrating common practice when it comes to other brokers.
With IQ Option, the estimated time of withdrawal is one business day. The minimum withdrawal amount is $2, due to commissions.
As for deposit methods, South African traders can use different payment options, including:
- Debit (Maestro and Visa Electron)
- Credit cards (Mastercard and Visa)
- Bank wire
- e-wallets (Skrill Moneybookers, QIWI, WebMoney, iDeal, Neteller, FasaPay, Boleto and CashU)
Their entire payment procedure for South African users is explained in detail on their site, which is very important because it is an immediate indicator of a transparent business.
Is IQ Option a Scam?
The question of whether IQ Option is a scam can be found through various traders who have commonly been scammed by other companies and are afraid to invest their money again.
The truth is that IQ Option is one of the best choices of regulated brokers out there and has won awards for their innovation, regulation and success. This broker is fully licensed, which means that they completely follow all regulations and practices that ensure trader’s protection – which they in turn take very seriously.
In addition, they have a fast-growing online trading platform that caters to absolutely anyone.
Don’t believe us? Let the numbers speak for themselves:
IQ Option is home to more than 20 million active traders worldwide. The IQ Option platform processes around 3 million transactions per day, while the money withdrawn by IQ Option traders every month has risen from $500,000 in 2014 to $5.7 million by the end of 2016.
The fact is we have received no complaints regarding this broker, so we can confidently say that IQ Option is not a scam. South African investors can trade in peace knowing that they are trading with one the most famous licensed brokers worldwide.
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