IQ Option Review
When it comes to trading binary options, residents of Singapore have many choices when it comes to choosing a broker. But as a smart trader, you don’t want just any broker. You want the best broker, the one most suited to meet your specific and individual needs as a binary options trader.
In this review, we will look at IQ Option so that you can make a more informed decision on whether or not this broker is the right place for you. While we can’t tell you whether IQ Option will be the best place for you to deposit your trading money, we can give you a detailed IQ Option review to help you figure this out for yourself.
We know that binary options trading is risky and that there’s a chance you can lose your account money when you’re trading. That risk is very real, and we want to help you keep your money and earn a return on it. Our hope is that by pointing you to the right broker, you can do just that.
Ready to learn more about how IQ Option might be able to help? Keep reading.
What Does IQ Option Offer?
IQ Option has a wide range of different underlying assets and trading tools available for their traders. They offer a variety of stocks, indices, commodities, and Forex currency pairs from all over the world. They have a heavy focus on U.S. based stocks, with over 500 underlying assets in total.
IQ Option has the lowest trade minimum in the business right now, allowing their traders to risk as little as $1 per trade. This has made them a strong choice for those that are new to trading binary options.
What is Banking Like?
The ease and safety of deposits and withdrawals is an important part of determining whether a binary options broker is right for you. Our IQ Option review found both deposits and withdrawals were safe. IQ Option encrypts all of their data and they have an SSL certificate to help ensure your safety.
Additionally, IQ Option is regulated by CySEC under license number 247/14. The Cyprus Securities and Exchange Commission is one of the most highly reputed regulatory bodies in the world when it comes to overseeing binary options brokers, and there are very strict rules that a broker must comply with if they want to remain in the good graces of CySEC. IQ Option has been under the authority of CySEC for a few years and remains in good standing. Being overseen by a recognized regulatory body is a must for any binary options broker that you select.
Next, let’s take a look at deposits. You want your deposits to be smooth and seamless so that you can start trading as soon as possible. Living in Singapore, you have a few choices when it comes to making a deposit at IQ Option. You can use a credit card, wire transfer from your bank, or an e-wallet. These include Visa and MasterCard for credit, or various e-wallets like WebMoney, Neteller, CashU, and Skrill, just to name a few. The minimum deposit is $10 USD.
When you create an account, you’ll need to select the currency that you will be trading with. They offer the U.S. dollar, the euro, and the British pound as their major currencies. They do not currently accept the Singapore dollar, so make arrangements to deposit with one of these.
How Do I Get My Money Back?
Making a withdrawal at IQ Option is fairly simple. They do apply industry standards here to protect you and your cash.
The best way to speed this process up is to ensure that you have all of your requirements out of the way long before you ever make a withdrawal request. Make sure that your account has been confirmed as soon as possible by sending their customer service team a scanned copy of a government issued photo ID and a copy of your utility bill that clearly shows your home address. If you used a credit card for your deposit, send in a copy of the front and back of your card, blocking out all but the last four digits of your card number and your name.
Be aware that IQ Option will automatically process a withdrawal by the same method that you made your deposit. This means stay away from disposable credit cards! Also, be careful if you are withdrawing more than what your initial deposit with a credit card was. They cannot process more than what you deposited via a card, so you will need to break this up into two withdrawals if you fit into this category.
Once your withdrawal request has been accepted, your money will typically show up in your bank account in about five to ten days.
This broker offers VIP accounts to those that deposit $3,000 or more on their initial deposit. If you have trading experience and you are looking to take advantage of all that IQ Option has to offer their most dedicated traders. This comes with 24 withdrawal processing, trade analysis, and more.
IQ Option also has a mobile trading app, if this is something that you are interested in downloading for your phone. They also give traders access to the occasional trading competition, where you can show off your skills and gain a chance to win prizes.
Perhaps the best feature of IQ Option is that they have their own customizable auto trading tool. This is part of their proprietary software and can help simplify your trading life once you gain some experience.
IQ Option Singapore
Traders in Singapore have many choices when it comes to binary options brokers, and IQ Option is one of the first that should be considered. It has a huge selection of assets from around the world, great trading tools, a strong reputation, and solid rates of return. If you’re in need of a new broker or you are looking to start trading binary options, then IQ Option is a good site to look at. If you still have questions about their platform, you can create a demo trading account for free and test out what they have to offer at no risk, all while using their software in real time.
Binary options trading is risky. Having a strong broker won’t automatically make you a profitable trader, but it will make it a little easier to become one. Our IQ Option review team found that this is one of the best brokers out there, ideal for new traders in Singapore.