IQ Option detailed review, user feedbacks, and background
Out of the numerous Forex brokers on the market right now, it might be hard for you to go ahead and say straight away which one you like enough to start working with them. Thankfully, you have stumbled upon us and we are more than ready to explain to you who some of the best brokers to start working with are. This time around we will be taking a close look at and forming an IQ Option opinion. This broker is relatively well known in the world of Forex trade, as they have proven many times over the years that they are capable of delivering a high-quality service while also offering some nice options for all levels of traders.
But is IQ Option legit in actuality, or is it simply a very nice and well-made front for something more sinister and something you should avoid? We don’t believe so. Though let’s take a more in-depth look so you can determine for yourself, whether it is true or not.
There are a lot of things that make the scam bells ring and one of them is a bad design for a website. You see, bad design is very often a sign of the people working on the website either not having enough money or knowledge to create a working, viable website. These two are usually the signs of a couple of amateurs trying to work a scam into deceiving people. The more advanced the scam is, the more likely the design of the website to be sleek, of course. The thing is, IQ option has a pretty terrible design. So is IQ option trustworthy?
Looking at the landing page of IQ option, the entire endeavor may look sketchy. The sidebar scrolling with the website, the navigation is more complex than necessary and the constantly present “start trading” will probably start tickling that one part of your brain oriented at finding sketchy things. Though it should not. While some things might seem sketchy, the more in-depth the look you take at the thing, the more likely you are to realize that there might be some merit to the bad design. Just like with a well-designed website it might take a bit more digging to find out whether what the page is offering you is a scam. While IQ Option’s page is a little on the ugly side (atrocious maybe), the thing they offer to their clients are legitimate and working with the company can bring a whole lot of success.
The good thing is that the page can be viewed in 13 languages, which is always a good sign. A variety of languages means a worldwide reach and a worldwide trust for the company.
About the company
So, to get rid of the suspicion this very IQ option review that the company might be a scam, let’s dive into the background and try to dig up some dirt about the company if we find any. The problem is, it will be very hard to find any dirt on them, beyond the lameness of their website, which is not a damning sin.
The first thing we will find out is what financial regulatory bodies the company is registered with and if it complies with all the rules that are imposed by the regulatory body. The company seems to be registered in Cyprus, with CySEC, which is a very reliable financial regulatory body and quite respected among the number of them. The company can also be easily found on the CySEC website, which further adds to the legitimacy of the enterprise and the reliability of what they do.
The website also links to all the awards the company has received. There are numerous awards listed and some of them are rather prestigious and well known in the industry. Double checking the legitimacy of these awards is essential to legitimizing IQ option FX brokerage as a company. When you do so, you find out the awards are real and that the company has actually received such awards in the years it says it has received them. Good news! We have stumbled upon a legitimately good company! Well, so far. We still need to check their platform, the offers they have, so on and so on, to make sure that IQ option fraud is not a thing.
Though before we move on to that, there are some pretty interesting details we still have to review. The company was founded in 2013, giving it a nice and respectable age in the world of Forex trade, for an online broker at least. What is the most fascinating is the rate of growth they have been going through – the now have upwards of 20 million users per month, while they only had 3 million sometime in 2013/2014. This is good news for us, once again – a brokerage will not able to retain this number of users if it is not a legitimately good one. Scams try to drop users as soon as possible, as they try to rip off new users from the very beginning and leave them asap so as not to get in trouble with the law. Bad brokerages do have retention, but their numbers never get so high as to get into the tens or twenties of millions. We are onto something here guys. So at least we know IQ option scam is not an option at all, and if the numbers can say anything, its that the company is actually really good.
Just saying that they have a lot of users are not evidence enough though. Another thing you need to consider is how these users review the company. And most of them are positive. The fact that so many traders enjoy their service is a testament to how good it must be. So maybe the ugly website is just a fluke?
There’s a blog
It is not often that Forex brokers will have any type of blog to communicate updates and educational materials to their traders, but IQ option is an exception. These guys seem to be running a blog for the sake of educating their traders and potential users. They provide educational materials regarding strategies, interesting concepts and things that the users might find useful on their platform. Many Forex brokers offer educational courses for a certain fee, but free courses like these for all those wishing to access them is not something you can go by often. Adding more points to the IQ option rating the more we learn about it huh.
Beyond the whole blog thing, IQ option has an expansive social media communication platform. Whether you are looking at Facebook or Insta, they offer some kind of representation and some kind of ability to communicate. The post updates about their blog, about educational opportunities, and their company. This is something rarely done by Forex brokers and is another step in the company doing their best to represent themselves in the content of the industry and help their users establish a strong communication network with the company. It also allows users to establish a community of their own and produce IQ option reviews and feedback so that the company can adapt and change with what the users want.
Withdrawal, platform and more
IQ option is a company that offers a variety of products, with Forex being only one of them. A wide reach of products, including stocks and cryptocurrencies, shows that the company is constantly to develop further and bring newer and better services to its users. It is a great sign for anyone looking to work with a progressive company that is at the forefront of technology and always offering something new.
IQ Option Webtrader
Webtrader is an interesting and very modern platform for Forex trading. Its design is highly regarded in the industry for its simplicity and the intuitive nature it possesses. Some think that such an efficient design might even be cause for the users of the Webtrader platform users’ high rate of success. The platform provides a nice overview of the trading, while also giving access to a number of indicators that will help traders trade efficiently and stay informed of the updates on the market. The trader offers around 89 currency pairs to trade with, which is a nice range of opportunities.
Though it is a bit of a shame that the brokerage does not offer other trading platforms for the use of their users since we all prefer a bit of variety and have our own of trading. Platforms such as the MT4, the MT5, and Ctrader all offer interesting solutions to successful trading. Still, we have little to complain about since such a nice platform is always a useful thing to use.
IQ Option Withdrawal
Withdrawal from IQ Option is a pretty simple thing to do, but there are several ifs. The first problem is that it takes the company a whole day to process your withdrawal request. While it may seem a bit discouraging, the delay is understandable. The company might receive hundreds of thousands of withdrawal requests every day, judging by the number of monthly traders they have. The fact that it only takes them a day to successfully complete these request is kind of a miracle, to be honest. The second problem is that the company charges for withdrawals. They are hoping to be working with high volume traders, which is why this happens. The charge is fixed though, with them only charging 415 ZAR per withdrawal. It is not too bad considering that you will be withdrawing a lot more money if you are trading correctly, and paying that type of money to keep your favorite Forex broker going.
IQ Option accounts
IQ Option also offers their traders three types of accounts, but in the IQ Option opinions of the user base, the differences between the three are too substantial. One is a training account, one is a normal account and one is a VIP account. The VIP accounts offer personal managers to their users, as well as free tournament participation.
An IQ Option bonus is not a thing that the platform offers, but the company offers its users some interesting tournaments to participate in. The competitors try to make as much profit within the context of competition (there are usually several going on at the same time), the one with the largest winnings receives the main prize, which is usually a large amount of money.
While the issue with the website seems to be a persistent one, and it seems like the issue won’t be going away yet (hopefully, someday), the rest of the company seems very much legit. The IQ Option Forex broker offers their users a slew of services and trading options, all of which show how much the company cares about providing an actually good service. We highly recommend this brokerage, because we believe it to be one of the best out there.