IQ Option Forex Broker

General Information IQ Option publicizes that it is a binary options provider, which offers multiple trading instruments and a unique trading platform, as well as free demo accounts. It also claims that it offers up to 1:500 leverage, no spreads, no commissions and 24×7 customer support services. Market Instruments IQ Option advertises that it offers a wide-variety of trading instruments, including trading options like binary, digital options, forex and CFDs, as well as trading assets like currencies, stocks, indices and cryptocurrencies. Account Types There are three live trading accounts offered by IQ Option, apart from free demo accounts，namely Classic, Platinum and VIP. The minimum initial deposit to open a Classic account is $500. Elsewhere on the website, however, a deposit of $100 is mentioned. While traders do have a VIP account available to those who deposit more than $3,000. Leverage In terms of trading leverage, the maximum level offered by IQ Option is pretty high, up to 1:500, yet too high leverage is not always beneficial for traders, because leverage gains are consistent with losses. Spreads & Commissions IQ Options website shows that it has no spreads and no commissions. However, it seems to be contradictory when we found that at the same time a bonus is offered that includes 60 days of commission-free trading. Trading Platform Available IQ Option offers clients a wide selection of trading software, including desktop, mobile apps and web-based platforms. The design is rather minimalistic, with all the options being available through additional menus. Some technical indicators are also available, although the list is not as extensive as those offered by most forex brokers. Candlestick charts are available, which cant be said for all binary option providers. Deposit & Withdrawal From IQ Options website, we can see many logos of popular payment methods, which include Credit/Debit Cards like Visa and MasterCard, Skrill, PayPal, Neteller, Giropay, Sofort and “many more”. The minimum deposit is $10. Customer Support IQ Option‘s customer support can be reached through website: www.binaryoptionsforex625.com. More other direct contact information like phone, email or company address are not not available on IQ Option’s website.