IQ Option Review: 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 Binary Options online 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. You can even place multiple trades with a variety of instruments offered on IQ options’ trading platform. All that you have 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
- Stock CFDs
On IQ Option trading platform, you can place trade contracts and options based on numerous stocks, currencies, commodities and indices. There are more than 300 underlying assets, to be exact.
Specifically, there are over 30 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.
Recently the number of IQ Option assets have been expanded by adding cannabis stock CFDs, which have become increasingly popular in the online trading market. Examples of marijuana stocks you can trade at the IQ Option are: Aurora Cannabis Inc, Canopy Growth Corp, Cronos Group Inc, GW Pharmaceuticals – Adr, Tilray Inc-Class 2 Common, Anheuser-Busch Inbev-Spn Adr, Etfmg Alternative Harvest and many more.
IQ Option Multiplier
South African IQ Option traders can benefit from the bigger ×20 multiplier. As for leverage, IQ Option South Africa offers leverage on up to 20x for stock CFDs and FX trading of up to 1000x – known as the 1000x multiplier. Our IQ Option review finds that traders use this tool only if they fully understand that higher leverage may mean higher returns, but can also result in higher losses.
The multiplier allows South African stock traders to take advantage of the high volatility of the current stock market by being able to apply the high-risk-high-return way of trading.
In other words, traders can make a smaller investment and win as if they had invested a lot more, 20 times more to be exact. For instance, a South African stock trader might be willing to risk $200 only. By using the x20 multiplier, the investment amount will go up to $4000.
However, if the stock trader fails to speculate the correct direction of the market, then the loss will never be more than the initial investment. As a result, traders can take advantage of the bigger multiplier and keep their capital safe at the same time by not risking more than they originally invested.
IQ Option South Africa Trading Platform
Unlike so many other brokers in the industry, IQ Option South Africa uses its own software, the IQ Option trading platform, which they continue to update and enhance regularly.
The IQ Option trading platform is highly developed and entirely user-friendly, so all traders should be able to easily navigate through the site and online trading room. With their easy-to-use interface, you can trade in the office, at home or on the move through their mobile trading platform.
IQ Options South Africa 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.
One thing is certain: IQ Option South Africa offers the ultimate online trading experience for everyone – no matter your experience.
How Do I Trade on the IQ Option Platform as a Beginner?
One thing that makes the IQ Option trading platform’s interface so easy to use is the fact that all of the trading instruments are available on exactly the same dashboard.
All you have to do is:
- Select an asset you prefer
- Predict this asset’s direction
- Make an investment
- Close the position
Binary options trading is even easier with an auto trading robot because the trades close themselves automatically when the expiry time has been reached. Unfortunately, this feature is not available with IQ Option South Africa after they shut down their IQ Option Robot.
Throughout this entire process, as reported in our IQ Option review, this broker offers many charts that display the most recent market trends, so you 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 video tutorial, visit our binary option trading guide.
In addition, their trading platform is multilingual and available in English, Italian, German, Russian, Spanish, Turkish, Portuguese, Chinese, French, Swedish, Korean, Arabic and Indonesian.
With the quality of their services and their up-to-date customer support, it shouldn’t surprise us why this broker is so popular among traders worldwide.
IQ option 4.0
IQ Option uses its own proprietary software and the latest news we received is that they have made an upgrade to IQ Option 4.0 version. For the new redesigned proprietary trading platform features WebGL, it took 12 months to be completely developed. Features, such as extra 2 indicators, new chart types, and graphs available on one screen are now available on the trading platform for a profitable binary options journey. Traders can access these new trading instruments on Windows and OS X and see how the IQ Option platform is now improved to IQ option 4.0. Thanks to great improvements in the technology section, such new features can be implemented and are considered to be a significant indicator in showing how IQ Option 4.0 technology advanced the binary broker trading platform.
What are IQ Option Price Alerts?
To make your life easier, IQ Option recently added a brand-new feature to their online trading platform: price alerts. Price alerts automatically notify you when an asset has reached the price level you want.
Part of being a successful trader is knowing when to act, in other words when to buy or sell an asset. No one wants to be glued to a screen staring at charts and financial market news all day. Thanks to IQ Option’s price alerts, all you have to do is set up an alert for the assets you want and IQ Option South Africa will automatically track them and send you a notification when the price you were waiting for is reached.
To set up an alert:
- Select an asset
- Click “Create alert”
- Set the price you want to be notified for
Getting Started – IQ Option South Africa Trading Accounts
Binary registration with IQ Option South Africa is completely free, and everyone can get started with a deposit as low as $10. Even though $10 is very low amount to start trading, there are brokers that allow traders to deposit even lower amount and Deriv minimum deposit is just $5!
Even so, anyone in South Africa can experience what this powerful online trading platform has to offer without spending a penny, through the demo account, completely free.
IQ Option Free Demo Account
All registered traders from South Africas have the option of using IQ Option Free Demo Account practice account, before depositing any money. This means beginners get to learn the basics of online trading entirely risk-free. If you are an experienced trader, on the other hand, you can fully test the IQ Option trading platform before investing any real money. Most traders in South Africa find that one of the key metrics of binary options brokers quality is precisely whether they have a binary options demo account or not.
The IQ Option South Africa demo account is funded with $10,000 of virtual funds to practice with, which can be re-filled at any time.
Once you have practiced on the demo account 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, as a South African investor, you can begin trading with IQ Option with the minimum amount of $10, which gives full access to a Real Account and all trading instruments and services. The number of assets available is 500.
Traders in South Africa also have the option to participate in different trading competitions and access their numerous trading tools.
All withdrawals can take up to 72 hours.
The VIP Account conditions may vary from country to country and may be subject to change, but in general, IQ Option VIP Account is granted to those traders with significant minimum payment amounts.
Having been granted access to IQ Options South Africa VIP account you get an unlimited 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 Options South Africa Education Resources
Trading global currencies can be a daunting prospect for beginners, but IQ Options South Africa has the education resources available so that you can, even if you are a complete trading newbie, fully understand and be able to take advantage of all that IQ Option has to offer.
Besides the demo account that is available and entirely free for all South Africa registered users, IQ Option offers various video tutorials that you can use to hone skills and master the mechanics of online trading.
One of the main reasons for the rising popularity of IQ Options South Africa 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 the 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 trading platform.
IQ Option Affiliate Program
Besides earning a spot as top binary trading South Africa broker in our awards, you should check out the IQ Option Affiliate Program.
An affiliate program is for all those users in South Africa, who are not looking to trade with IQ Option themselves – but partner with them. By becoming an IQ Option affiliate, you can earn up to 50% of profit by promoting the award-winning broker on your blog or website.
All you have to do is:
- Join the IQ Option South Africa affiliate program
- Get your own affiliate link
- Post this link on your blog or website as an ad
- Earn up to 70% of commission when a user clicks on your link and starts trading with IQ Option
Your earnings will then be transferred twice a month via your preferred payment method.
How to Contact IQ Option South Africa
The customer support team at IQ Option South Africa is available 24/7 through email ([email protected]), phone or online web form.
Unfortunately, there is no direct phone number in South Africa available yet, but we listed the numbers that you can find on their website and call for their support any time.
IQ Option also offers a live chat, which is available for all traders in South Africa directly on their trading platform.
IQ Option South Africa Deposit and Withdrawal Methods
IQ Options South Africa takes the security of all its traders very seriously and presents no difficulty throughout the IQ Option withdrawal & deposit South Africa process – which many traders in South Africa already know, can be a frustrating common practice when it comes to other brokers.
With IQ Option, the estimated time of withdrawal is three business days. The minimum withdrawal amount is $2, due to commissions. With IQ Option South Africa you have the option to deposit in South African Rand, as well as many other currencies. Check out the table for more information on minimum payment amounts but don’t forget to check is forex trading taxable in South Africa.
By trading in South African Rand, you can easily avoid those pesky conversion rates!
As you can learn from our IQ Option Review, you have a variety of different payment options that you can use to deposit in South Africa, including:
1-click deposit feature allows even easier way to deposit with IQ Option. South African traders are able to directly make a deposit within the IQ Option trading screen. They only have to enter preferred amount to start trading and click on Proceed to payment button.
Before, traders were able to deposit only in a separate page, while now, they can do it within a few seconds on the trading screen. This comes as an excellent feature that will assist traders to experience a simple trading process with this broker.
Their entire payment procedure for all traders in South Africa is explained in detail on their site, which is very important and an immediate indicator of transparent business conduct.
IQ Option Scalping Trading Model
Scalping trading model or strategy is one of the trading patterns used in binary options trading. It is a trading technique to skim profit by opening and closing positions within minutes from the financial market. The scalping trading tool isn’t so difficult to overcome and to become more experienced in the binary trading process. To have good results with the scalping strategy, traders in South Africa should know which expiration times can they use during trading process and it depends on the chosen trading platform.
IQ Option scalping Binary options scalping strategy may include different analyses and trading indicators. Usually, charts as 60 seconds and highest 15 minutes are used for scalping in binary options. The idea is to ensure that particular information received from the charts after analysis will happen in the shortest possible period of time. The scalping trading model is considered to be a highly speculative strategy. It is advised to test it first on the demo account with virtual money, instead of investing real money with this trading pattern. It is mostly used by professional traders who have years of trading experience.