Binary options have been the centre of many online traders irrespective of their background and experience of several years. Although in the recent past, there have been many fraudulent activities occurring in this sector. This is why people who have little or no experience with binary options should choose a trustworthy broker carefully. IQ Options is a reputed name in the industry that has been active since 2013 as a binary options broker that slowly shifted into CFD trading in 2017. This brokerage company has seen a consistent increase in its customer base which is still growing. In this IQ Options India review, we shall lay down everything worth knowing about IQ Options forex trading India.
Regulations and Legality
IQ Options achieved record success in binary options trading before regulators forced it to cease those operations due to the growing number of complaints and negative remarks about the service. Now this brokerage company is starting afresh a new venture related to CFD-based forex trading to become the number one brokerage service provider in the market once again. IQ Option Europe Ltd. has secured a license from the Cyprus Securities and Exchange Commission (CySEC). It is also registered as an international business company with the financial regulator of St. Vincent and the Grenadines Financial Services Authority. Some sources suggest that it also has authorisation to operate from the FSA of Seychelles.
Visit IQ Options for more information.
Does IQ Option Accept Indian Clients?
If any investor based in India ever feels inclined to register with an online brokerage to start trading binary options, CFDs on Forex, crypto, and stocks then they must be sure of that broker’s legal status. You can do that by simply checking the directory compiled by the Securities and Exchange Board of India . One of the purposes of this IQ Options India review is to make sure that Indian investors comprehend whether this broker is safe for use or not.
Trading binary options in India is not a new feat and IQ Options suggests that indulging in CFD on forex or options trading is available for Indian clients too. Any well-established broker with several years of experience is safe to work with but certain rules and regulations need to be maintained to stay on the safe side.
You can sign up for a free account with IQ Option to practice.
What Type of Broker is IQ Option?
IQ Options is a multi-asset broker which is predominantly known for CFD-based forex and options trading with the help of its proprietary platform. Since it requires a considerably small initial investment to trade, many new traders with little experience and knowledge about the market conditions choose it as a guide. As SEBI does not hand out licenses to any options broker, having an internationally recognised authorisation from CySEC favours IQ Options. This platform supports several languages and caters to global customers. The reason why millions of trading enthusiasts prefer IQ Option is its return on investment (or ROI). Below are some unique characteristics of this broker service:
- The sentiment indicator provided by IQ Options is one-of-a-kind that comes with Moving Average, Bollinger Bands, Alligator, RSI, MACD, etc. It allows social trading when you use a feature called Community Live Deal.
- There are several innovative features on this particular trading platform including a 24/7 newsfeed. But there is room for improvement in other services.
- This broker organises several trading tournaments each year offering participants a considerable amount of money and other platform-related benefits as a reward.
- The free practice offered by IQ Option allows traders to use a refillable demo account worth $10,000.
- The support channel of this broker is available 24/7 with multilingual compatibility. Users can clear their doubts whenever they want.
- IQ Options proprietary trading platform is available in Desktop, WebTrader, and mobile application (for Android and iOS) versions. It includes several useful tools, technical indicators, and an economic calendar as well.
Tradable Markets Available
There are several tradable markets for an Indian to spend their time and invest their money in at IQ Options’ trading platform. But it is important to start trading an asset that is least complicated for a newcomer. Once you register with IQ Options as a client, the following assets become available for trading:
- Options
Digital and binary options are perfect for traders looking to make the most out of the IQ Options toolkit for their intraday trading journey. A minimum investment of $1 is required to start options trading using their trading platform without paying anything as the brokerage fee.
- Stocks
On IQ Options you will find CFD-based stocks for trading which speculate on the price movement of a certain asset (generally in any direction the trader wants) without owning the underlying asset. Stocks like GameStop Corporation are available for traders in CFD form.
- Forex
Traders based in India who are interested in forex get access to 25 different currency pairs which include some major FX pairs popularly known as profitable trades.
- Crypto
IQ Options offers some of the most renowned cryptocurrency projects to its clients who wish to join the crypto markets. Choices in crypto include Bitcoin, Ethereum, Ripple, Binance Coin, and TRON. These digital assets have a short selling feature to give more benefit to traders from their market movements.
View the collection of tradable assets on IQ Option.
Account Types Available
For convenience, IQ Option has one type of trading account to offer all of its clients with an addition of a free demo account to be used as a practice account. Some sources say that there is another account type known as the VIP account offered by this broker to users living outside the US and EU zone. As the name suggests, the VIP account brings higher chances of profitability than the standard one. A personal account manager is also one of the unverified benefits of having a VIP account on IQ Option. The platform maintains consistent and identical trading conditions for all users regardless of the deposit size.
Minimum Deposit, Spreads, and Costs
The minimum deposit required to begin trading on IQ Option is $10. But the leverage it offers varies with the asset chosen by clients. For example, maximum leverage is 1:1000, but that is applicable on Forex CFDs only. When you deal with crypto or commodities, the maximum leverage is 1:100, and 1:20 is the maximum leverage offered to ETF CFD traders using the same trading platform.
IQ Option is famed for being a commission-free broker that has competitive spreads. For some major forex pairs like EUR/USD, there is a mark-up of 0.4 pips which is very low. For all other currency pairs, the pricing remains average. But traders should be aware of the maintenance fees levied on crypto CFDs that start with a negligible amount but easily reach up to 2.5%.
See the IQ Options trading specifications here.
Deposit and Withdrawal Timing and Fees
Multiple payment gateways are accepted on the IQ Option platform. According to their official website, each of the following systems handles funds quickly and securely.
- Mastercard
- VISA
- UPI
- Online Banking
- RuPay
- GlobePay
- advCash
- Skrill
- PerfectMoney
- Neteller
- WebMoney
- Bank Transfers
This broker applies swap rates, but there is no further information regarding how dividends, splits, and mergers are considered in leveraged overnight positions. All IQ Options users get one free withdrawal option each month, after which a 2% withdrawal fee is charged per subsequent withdrawals irrespective of other conditions. There is also an inactivity fee on this trading platform which new users often forget to consider. A monthly charge of $10 is deducted by IQ Option when a trader fails to remain active for more than 90 days.