There are many brokers online. From this assortment, IQ option is one of the most popular brokers as of now. This review will help you figure out if you want to trade with them or not.
Does IQ Option Accept Traders from Australia?
Unfortunately IQ Options does not accept Australian traders. They do not have an ASIC license and they are not allowed to operate in Australia without it.
IQ Option Australia
This broker is only for non-Australian traders.
The company was founded in 2013 and has been going strong ever since. How well is it doing? Well, in 2018, it had over 41 million registered users.
In 2014 they got the prestigious CYSEC licensing, allowing them to host European users. IQ Option does not have an Australian ASIC license. This is the reason why they can’t accept AU traders.
That’s why they’re one of IQ Option’s largest demographics.
They’re known for their easy to use platform and helpful customer service. This is great since it makes trading much easier.
You can easily make money off it because it’s a platform that lets you trade with over 350 financial assets.
Several Indicators At Your Disposal
If you want to make a lot of cash, you need to be aware of trading trends. With enough knowledge of profitable trends, you can invest wisely.
Unfortunately, not a lot of online brokers give you access to such trends. This isn’t the case with IQ Option as this service is readily available.
You don’t need to pay to access the feature as it’s available for free.
In terms of the technical indicators they offer, there are over 15 of them. These include:
- Bollinger Bands
- Stochastic Oscillator
- Parabolic SAR
- Ichimoku Cloud
- Belkayate Timing
- Awesome Oscillator
Access Numerous Charts
With access to profitable trends, you’ll be able to invest wisely. However, this isn’t all you need. To make the most money, you need access to several charting tools.
Depending on the broker you’re using, the charts at your disposal would vary.
With IQ Option, there are 5 tools present. You can use them to monitor the market, and come up with appropriate trading strategies. Thus, you can invest in the best way possible as you have this along with the profitable trends at your disposal.
If you’re wondering what charts IQ Option has to offer, they are:
- Hollow Candles
It’s Easy To Use
You need a great interface if you want to trade smoothly. Unfortunately, a lot of IQ Option’s competitors offer sites that are unnecessarily bulky. This makes trading harder as you would waste time figuring out how to navigate through the site.
It’s safe to say that IQ Option is not known to offer a clutter-free interface. This lets you navigate as easily as possible.
Their interface was designed in house and did not utilize MT4. The inhouse design is nonproprietary and custom.
Mobile Trading on IQ Option
You’ll love how easy it is to use IQ option. You can use it not only on your computer but on your phone as well. The mobile version can be accessed by going through the Appstore.
You’ll have access to the same features that you see on the web version. This is great as online brokers that create mobile apps tend to limit its features.
However, there might be problems with the app when you’re downloading it. It’s quite large so it takes up a lot of storage space on your device. This can cause your device to slow down, especially if it has limited storage space.
Since it’s so extensive, it is known to run in the background of your phone. This not only eats up data but your RAM as well, inhibiting your processor.
Multiple Trading Option
As a trader, you should have numerous ways to make money. Don’t be afraid to use IQ Option as it allows you to invest through multiple means. The types of assets it offers include equities, forex, commodities, and indices.
Along with this, you have various currencies at your disposal, including the much sought-out NOK, SEK and TRY currencies.
Of course, that’s not all. You may be a fan of cryptocurrency. Well, you can trade with them on IQ Option as well as they allow you to choose from 7 different types of cryptocurrency, including Bitcoins.
Different Account Types
With IQ Option, there are 2 different account types. These are the standard and VIP accounts.
Users have noted that there is not much difference between the standard and VIP accounts, except for a few luxury features.
To get hold of the standard one, you’ll need to deposit $10. With that out of the way, you can access over 350 of IQ Option’s assets. You’re also able to withdraw funds in 24 hours, which many of IQ Option’s competitors don’t offer.
You can utilize trading competitors as well. However, you can only join them if you’re outside the EU due to certain restrictions.
As the broker is not active in Australia, you can’t open an account in Australian Dollars.
You may be wondering how their VIP accounts work. Well, you’ll have to make a minimum deposit of $1900 within a 2 day period. Once you’ve done this, you need an account manager, reports on your trading at the end of every month, and an additional % on returns.
That being said, the VIP account has a drawback: you can only access it if you’re outside Europe.
IQ Option Demo Account
You can access a demo account when you sign up for IQ Option. A demo account is important if you’re new to trading and you can practice your trading skills. Thus, it’ll help you make more money in the future.
Not only do you get access to a demo account, but you can use it for as long as you want because there are no time constraints.
You’re Working With The Best
IQ Option has been around for a while. Due to this, they’ve been awarded multiple accolades. So, you’re working with a broker that’s the best at what they’re doing.
Their superior work ethic also comes into play when helping users. There are numerous customer support lines you could call, with 90 representatives across the world running for the majority of the day. They also have a dedicated email address and an office. This helps you resolve your issues one way or another.
You could utilize their online support which takes less than a minute or so.
Does IQ Option Accept my Country?
One of the disadvantages of IQ option is that it’s not available everywhere in the world. Moreover, access is limited in some major countries as well.
IQ Option is not available in Australia, Canada, and the US.
Easily Withdraw Cash
You can easily withdraw cash with IQ Option. However, you’re allowed to do so only in the same currency you deposited the cash in.
It takes up to one business day for your withdrawal to be approved. If you like, you can get the cash transferred to your bank account, making the process easier.
As you can see, there are countless benefits of using IQ Option as your online broker. It’s unfortunate that IQ option does not accept Australians.
- Demo accounts at your disposal
- Highly accredited
- Large user base
- Easy to use
- Over 350 assets to utilize
- Charting tools available
- Access to profitable trends
- Great customer support
- Can easily withdraw cash
- The mobile app is storage extensive
- Limited to only 178 countries
- Trading competitions not available to Europe