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How to detect Binary Options scams
Detecting binary options scams is not an easy task,but it is a noble idea to do since people are being robbed daily of their money in binary options trade. BestBinaryOptionsWatch.com is dedicated to fishing out those scammers that come in sheeps clothing just to rip you off your money. One question that traders ask,especially those that have been conned is, -How to know binary options scam? Of-course,if you have once been scammed its enough reason to know that that binary option broker or signal provider is not legitimate. Prevention is better than cure, so it is better to avoid the paths of these scammers than learn your lessons after you have lost your money. So we are going to reveal to you some ways you can identify them:
Ways in which scammers work
- Enticing bonuses: Who doesn’t want to make a huge profit, more especially within a short period? These brokers feed on this human psychology and present huge tempting bonuses to make you invest your money.This is just a bait to lure you in. Now don’t get it twisted, legitimate and good binary options brokers also give bonuses but scam brokers present theirs telling you that you will always win.This are fake guarantees.
- Fake testimonials and reviews: They go ahead and put up jaw-breaking testimonials on their website and other websites of how people have been making huge profits with them and how their method is the best you can ever come across, they also go ahead and write fake reviews recommending them. Be careful because the people you see on those testimonials are non-existent and are fake.
- Refusal to withdraw your money: After you have started making profits and you want to withdraw your money, they come up with stories, then they stop picking your calls and replying your mails, making it impossible for you to get back your money.
How to detect binary options scam brokers or signal providers
- Check if the their website has an SSL certificate, you can know this by checking if their website has (https://), note the ‘s’. Since you are going to put your card details in,this would be very important.The https:// shows that your information and card details are encrypted and safe .
- Ensure that the broker is regulated: This is very important, check to see if they are regulated by a reputable financial body, note their license number and go ahead to verify it. This is very important because when things start going bad you can always report them to the regulating body and your money could be refunded.
- Check to see if their platform is easy to use and their website is properly designed.
NB: The presence of all of these does not mean that a broker or signal provider is not a scam.However when you notice these things then be suspicious.
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- Start little, then when you make some profit try withdrawing it. This is to enable you test the waters and notice any suspicious activities.
- Always read the Terms and Conditions, sometimes some things are hidden there that might not be in your favour.
- Always keep a record of your earnings so that if any changes or irregularities happen you would quickly detect them.
- Don’t keep your money for long with a broker.
- Don’t accept bonus offers from brokers because their terms are stringent,However if you wish to accept their bonuses make sure you read the terrms and conditions to know if you are satisfied with it.
- If you think you have been scammed, file a complaint to the regulatory body.
NOTE: Don’t always say when you lose that the broker is a scam , like every other business you could win or lose and finding a good broker does not guarantee your success.
Scams using binary options are unfortunately quite common, as you can tell from our list of fraud brokers and services. If you are concerned about falling prey, this guide explains how to avoid scams in the UK.
Are Binary Options a Scam?
In short, no. Binaries are, in our opinion, a good product. There are, however, unscrupulous brokers and other service providers out there preying on uninformed traders. This is due to binaries being largely unregulated and unmonitored when they first came to the market – which thankfully has changed a lot in recent years. But with scam artists still out there, what can consumers do to avoid a binary options scams and focus purely on their trading? Read this tutorial on scams and only trade with trusted brokers!
A scams list may not actually be that useful though – operators are closing and re-opening so often that maintaining the list becomes a full time job. A better choice for consumers is to spot the warning signs, and if there are any doubts at all – simply move on to another provider. A list of scams can only protect you from threats that exist today – learning how the con artists operate and mislead consumers can keep you safe for years to come.
There are a number of methods by which the scams associated with binary options will try and make money. There are however, also some pretty obvious red flags that can pre-warn consumers that all might not be well. As ever, the old adage “If something seems too good to be true, it probably is” applies. If you have encountered any of the below, I would advise treading very carefully – and if in any doubt, leave that particular broker – there are plenty of legitimate, trustworthy brokers. There is no need to take risks with any company that you may have doubts over.
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For those that simply want to avoid scams and start trading without reading this whole guide, go with any of these brokers:
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A service called MyChargeBack.com offer a consultancy service to help victims recover their money. They offer a free service to let you know if you have a case. Things like unpaid withdrawals, or unauthorised payments can be claimed via banks or credit card companies, and this firm specialise in dealing with those organisations. The range of services varies based on each case, but they may be able to help:
How to Avoid Scams
Look out for the warning signs listed below!
A reputable broker is unlikely to solicit new business by making cold calls and phoning you out of the blue. It is likely that any call made in this way, will involve unrealistic claims about binary options, and potential profits to be gained from trading them. These might include the promise of immediate, high returns, and downplaying any risk.
In addition to telephone calls, some operators may also email directly, in some cases, suggesting an account has already been opened. Any of these methods of getting in contact is an immediate warning sign. Hang up, and delete any mails.
One source of frequent issues is via deposit bonuses. Dishonest brokers will often have some extremely unethical terms. These might include tying in the initial deposit until a certain amount of trades have been met (turnover requirements). They will include the initial deposit (not just bonus funds). Effectively making the deposit their money as soon as it is handed over. Be sure to read these terms before taking a bonus, or making a deposit.
This warning includes automated robots and signals, but also managed accounts, where an account manager has promised massive profits. There is an obvious conflict of interest for these account managers. If you make a long term profit, the brokerage makes a long term loss on your account. An account manager, employed by the broker, is very unlikely to have your trading interests at heart. While they may argue otherwise, letting someone else trade for you is very likely to end in losses. These managers can also encourage traders to invest way beyond their means, which is particularly dangerous. Binary options are a high risk / high reward investment. The risks should never be hidden from you by your broker or account manager.
‘Make Money Online’ marketing
Many of these warning signs are related – this form of marketing again hides the risks – just like the cold callers and account managers. The “Make money online” and “Get rich quick” marketing surrounding binary options is grossly irresponsible. There are numerous websites, with high production videos that look very appealing. They will suggest making money is easy, possibly even suggesting they copy famous investors. These are all scams. Any promotion that hides, or downplays, the high risk nature of binary trading is not being honest. Binary options are not a way to make easy money, and should not be sold this way. This form of advertising for binary options is generally the most dangerous for the consumer. If you encounter marketing of this kind, do not proceed.
A funnel is a website that will drive traffic to a broker. As a visitor to that site, you may not even be aware you have been redirected to a broker. These funnels generally operate the “get rich” marketing described above, but not always. The issue here is that the consumer will be passed to a broker, who they know nothing about. Having visited the funnel, the new customer will get a call from a random broker asking for a deposit. While this may sound odd to those who have not fallen victim to it, the effective selling of the binary options scam by the funnel website, will mean many people are duped.
Some brokers will include a line within their terms along the lines of: “Our prices may not reflect those of the actual market”. Unfortunately it will not be worded as clearly as that, as the implications are obvious – they set their own prices. If the broker is the counter party to any trade, and they also set the prices, it will be very very difficult to ever make a profit with that broker. Clients are trading against the broker, and they decide the closing prices. One of the two parties will make a loss – and it will not be the broker. Research the terms of trading and beware of any references to settlement figures based on anything other than real world prices.
So those are some key warning signs that should make any potential new trader stop and question what they are being told. If you have come across any of the above, identify the broker involved – and trade elsewhere.
In addition, new traders might try and carry out their own ‘due diligence’ on a brand. Even this however, might carry risk. The reason is, as well as the scam operators, there are review sites that are also dishonest. There are a couple of ways that consumers can protect themselves and find the trustworthy reviews. The first method is in looking at the offerings elsewhere on the review site – if other scams are being promoted, then the reviews are not credible. Ask these question of the site:
- Is there a proliferation of robot ads?
- Are there promises of high returns?
- Is there adequate risk disclosure?
- Can you contact the site, or site owners?
The second method is regulation. In the UK, the Financial Conduct Authority regulates some binary options brokers. This only happens where the broker offers a form of trading already covered by FCA regulation – Contracts for Difference (CFDs) for example.
The reason this is important is because FCA regulated firms have to be careful about who promotes them too.
If a binary option site lists FCA regulated brands (as we do!), this indicates a level of credibility and protection. That site must be completely honest about the high risk nature of binary options, and it must have accountable individuals, based in the UK who operate it. If it does not, then the FCA firms would not allow their brands to be marketed by them.
Here however, is another level of complexity. Some binary options brokers have sought to register with the FCA. This is not the same as being regulated by them. In order for a firm to be regulated by the FCA, they need to offer additional forms of trading, not just binaries. A brand offering only binary options will not be fully regulated by the FCA. This is because binary options are currently regulated and licensed by the UK Gambling Commission. So the list of binary options brokers regulated by the FCA is actually very small.
FCA List of Unauthorised Brokers
In addition to the services below, the FCA have published a list of firms who are not authorised to trade binary options in the UK. While stopping short of calling them scams, the list provides a picture of firms who are prepared to break the law (by offering unregulated trading). They are almost certainly best avoided. The list can be found here:
The Brit Method
The marketing in use here is an obvious red flag. Videos that suggest over £500k has been made in under a month are about as obvious as it gets. Unfortunately the claims are not true. This is an outright scam, avoid the “Brit Method” or any associated schemes. These include “Jason Taylor” and any “millionaire maker” scheme linked to that name, or the Brit Method.
The Brit Method is a scam that has been used before. Here is what you need to know to protect your money;
What Is The Brit Method?
The Brit Method promises to be a binary options trading strategy that can make you hundreds of thousands of Dollars within a few weeks. Unfortunately, it is the latest reiteration of an old scam.
The Brit Method is nothing new. It previously was called the Aussie Method and the Canuck Method, and each time the site had to close due to its bad reputation. Even the guy who supposedly invented the genius trading style is the same.
It is always the same stock picture, just the name changed from Jake Mason to Jake Pertu and now Jason Taylor.
There are many fake testimonials on the website, but make no mistake all of them are made up statements with stock pictures of people who never heard of the method.
Similarly, all the promises made by the Brit Method are lies. The site essentially promises immediate, unlimited gains, but provides little information on how it wants to accomplish this goal.
The site also promises to get you started for free, which is a lie, too. After you complete your free registration, you are refused access to the system unless you deposit $350. But even if you make the deposit, you still wont have access because there is no system. The money is gone, and you will never see it again.
Avoid the Brit Method at all costs. Also, be aware of all future version of the scam. In all likeliness, there will be a German Method and an American Method and they will very likely to use exactly the same methods to con people.
Again, the sales pitch is an obvious red flag. This is a scam, stay away.
The scam suggests that clients can enjoy wealth by following a method created by Warren Buffet. An investor famous for taking long term positions, this fraud has absolutely no connection with Buffet himself.
The process involved visitors being forced to join a particular broker (another scam tactic explained above) and make a deposit in order to get access to a “system”. No system exists, and traders will not get any funds returned. Avoid.
The good news here is that the Ultimate4Trading website has been blocked for UK visitors. The operation is dishonest and should be avoided.
Another scam which again, is thankfully blocked in the UK. Once again, the promise to “get rich” is at the forefront of the marketing but the whole operation is a scam. To the point which even the website is now a haven for malware. Keep away.
Instagram & Facebook
Many scams promote themselves on Instagram and Facebook. Most will fall into the categories listed above. The mainstream media have also been duped themselves in the past, including the Daily Mail. These promotions or accounts make wild claims of the profits that can be made, backed up with images of flash cars and other trappings of success. It is all a lie and these operations are to be avoided at all costs. If these people really could turn your £2,000 into £8,000 in a week – why would they need to advertise on social media? They could simply make as much money as they needed from the markets and go and spend their time on the beach. Screenshots are easy to fake – and they never need to show the losing trades.
Anything promoting a ‘get rich quick’ route using binary options is untrustworthy, full stop. Remember also that Martin Lewis (of MoneySuperMarket fame) is considering legal action because Facebook are not doing enough to remove ads claiming to be backed by him. To repeat his quote “Martin Lewis does not do ads“. If an advert mentioned him, avoid it at all costs – it is almost certainly a scam.
Below are some brokers for which we have received credible reports of poor customer care, or worse. Again, many of the tactics used are covered in our article on avoiding scams – this list is unfortunately not exhaustive so if any of the actions below sound similar to other brokers you have come across, stay away from them – and let us know.
Many of the worst brokers have been thankfully shut down, but always be aware of using unregulated brands unless you are able to verify their quality. Not all unregulated brands are untrustworthy, but it does mean more ‘due diligence’ is necessary.
Bonus terms lock in the initial deposit until turnover requirements of x30 are met. Your deposits are yours until you choose to trade them. A broker should not block withdrawals of your deposits before it has even been traded. Avoid.
Opteck have now closed for business. The tighter regulations introduced by CySec (who monitored Opteck) have left the firm with no option but to cease trading. Increased regulation is helping the industry by squeezing out the firms that used misleading marketing, or deception, to earn money from clients.
Boss Capital were a popular broker which accepted US traders. A lack of strong regulation enabled them to operate using questionable methods. They are another firm that have closed as a result of improved regulation.
StratX were a firm brought to our attention by a disgruntled customer (see the testimonial page). The firm use cold calls, account managers and make withdrawals very difficult. Not recommended.
Another firm we have received much correspondence regarding is CFDStocks. They employ most of the tactics discussed above, including cold calls. Most contacts we received say an account manager encouraged larger and larger deposits before disappearing.
7 Binary Options
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The vast majority of binary options trading scams will start well before even the trader manages to open their account with the brokerage. The promotional videos are what gets many people hooked. The video about the signals or the robot (whichever they are peddling) makes things look very simple.
Here is how the scam works in a nutshell:
- A group of scammers set up a website that looks and feels like a legitimate binary options trading broker.
- The scammers then create a makeshift trading signals software and slap a 100% trading accuracy claim on to it.
- As soon as traders join the scam, they lose the initial deposit which is usually set at $250.
- After that those traders will receive a phone call from a so-called ”senior broker” who will ask them to invest $5000.
Any and all amounts deposited will disappear and you’ll never be able to withdraw them.
The Demo Trading Account
We always recommend that traders should stick with trading via a legitimate and highly regulated broker. That broker should also offer you a free demo account.
When it comes to Forex, Crypto or CFDs brokers, IQ Option is regarded as being one of the best as they are licensed in Europe. Plus, traders can signup to get a free trial of their platform.
How To Steer Clear Of Binary Options Trading Scams?
Research is your best weapon against binary options trading scams. You should research the broker properly. However, you’ll need to move beyond the majority of review sites as they just provide you with basic information.
Picking a regulated broker is a good way to safeguard your funds
The most important things you should check is:
- If the broker has a license from a financial regulator like the FSB, ASIC, FCA or the CFTC.
- Does the broker continuously call you to deposit money into the trading account?
- If the broker has a mechanism in place that protects investors from your part of the world?
- Check the history of the broker to find out if they have been fined for unethical practices by a regulator?
The next step is to shortlist and pick the best robot or trading signals system:
- You should never use a broker, robot or a trading signals software which asks that you make a deposit before ever seeing the interface.
- Never choose a trading signal if it does not fit your style or trading strategy.
- Any software that you use to create the account can also be used to place trades via the account.
- If there is a binary options forum make sure to read through the discussion there.
- Keep in mind that historical performance does not guarantee similar future results.
We know more than anyone else that binary options trading scams are very common. So, its imperative to carry out your own research and go beyond just getting excited about a $1000 bonus. Plus, for every binary options broker that you find out about, there are many others that offer the very same features and probably at a lower price.
Carry out your due diligence to find out what it is the requirement for the broker to be regarded as the best in the industry. Also, try to choose a broker that’s licensed locally and is regulated locally because that way your investment is protected.
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IQ Option Review
A broker who desires traders to win is finally here- IQ Option. A Cyprus Investment Firm known as Investlab Holdings Ltd regulates and owns the company. Hence, worrying about your money should be out of the topic since the company has to adhere to all the trading rules. IQ Option trading platform is unique since it was developed from the scratch. The platform is easy for both veteran and novice traders. The team is always working hard to ensure the platform is better each day and their services are top of the industry. Unlike most brokers out there, IQ Option does not bring pushy sales. A free demo account upon registration is available to allow you to test the platform and its features. Their real time trading is always available 24/7, offering traders an opportunity to gain up to 90% per trade. They have several assets, including Stocks, Indices, Forex, and Commodities on their Turbo (60 sec) and Binary options. Hence, you get diverse opportunities to earn a handsome payout. Their secure and regulated deposit and withdrawal methods ensure traders concentrate only on making profits.
Types of Accounts
IQ Option is a broker who values every trader regardless of experience, knowledge or level of income. They always have a place for everyone to make a profit. After registration, you can use the demo account to test the broker and its offers/ features. After that, you can upgrade to either a Real or VIP account. Although both Real and VIP account levels come with features that allow traders to make profitable trades, VIP account promises greater opportunities since it has a plethora of features and details to enhance a rich trading experience.
However, our team was disappointed by the fact that the broker has only two levels of real trading accounts. Most of the binary options brokers we have reviewed have three or more levels to bring diversity in trading experience.
After signing up with IQ Option, you will have complete access to a demo account without paying anything. The account comes with 13 assets from which you can choose your trading assets to make trades. Placing trades involves using demo money. Since the account is free of charge, you do not have to worry about losing your money in erroneous moves. To top it all, IQ Option provides clients with an opportunity to use the account as long as they want. Hence, you may take as much time as you want to learn the platform before switching to the real world of trading with the broker.
For traders who are beginners in the industry or want to start slowly with the broker, IQ Real account is a suitable choice. You need to deposit only a minimum of $ 10. The amount astonished our review team since it is the lowest in the industry. As if that is not enough, you receive bonuses of up to 27% on each deposit amount you make.
The account level comes with more than 77 trading assets, giving traders an opportunity to select from diverse trading opportunities. Unlike the demo account, this level gives you with full access to trading opportunities. Traders at this level can also participate in trading competitions to make extra money. If you want to withdraw funds, you just have to wait for less than three days to receive your money after placing your order.
If you are a professional trader that wants more features to reach your craziest goals, we highly recommend this account level for you. You just need to deposit a minimum amount of $ 1000, and the account will be all yours. The level welcomes you with a handsome bonus of up to 50% on each deposit. It comes with over 77 assets and full access to trading opportunities. After placing an order requesting a withdrawal, you only need to sit back and wait for the next 24 hours before the money reflects in your bank account.
VIP account also avails a personal manager to every trader at this level. Since managing funds and trades is easier said than done, we found this to be very encouraging. IQ Option also provides traders at this level with a monthly analysis of their trading. Their trading experts and analysts will help you analyze your trades and profits to ascertain your success and advice accordingly.
We highly recommend you begin straight from the VIP level. The account can pay back the amount invested within a few weeks and begin bringing profits. The assistance of free monthly analysis and personal manager can be of great help especially if it is your first time to dip your toes in the world of trading binary options. The account will allow you to keep losses to a minimum since it offers better refunds in case you make wrong predictions.
Unlike most brokers out there, IQ Option uses its trading platform. Brokers such as Porter Finance, Banc De Binary, and GOptions use SpotOption platform as their trading platform. The trading platform of IQ is user-friendly and has super responsive live graph feature that brings fun to the trading experience. Unlike on some brokers’ website, it is impossible to make inadvertently placing a wrong trade when you use IQ Option trading platform. We give the platform a thumb up for having many unique features whose designs enhance an effortless trading experience. If you think you will take more than fifteen minutes before you master the platform, you are wrong. Our team spent just less than fifteen minutes to learn the platform and place a trade approximately.
If you have just begun trading on the platform, you do not have to worry since they stock comprehensive video tutorials that will walk you through the simple steps of placing a trade on the platform.
When we first used the platform, we simply located a tab on top of the price chart and selected the asset with which we wanted to trade. A drop-down menu on the right side of the tabs availed to us more assets.
On the right side at the furthest end, users will find the action buttons for the CALL/PUT options that they want to execute. Here, you can also decide the trade amount. Most trading platforms use a slider bar to assist users in selecting the trade amount. However, at IQ Option, they have already predefined the investment amounts. You can decide to choose from fixed amounts such as $ 10, $20, $50 and $ 80. Alternatively, you can decide to key in the amount box the amount of funds you want to invest.
The platform’s left-hand side offers traders with a plethora of the navigation choices. Here, you can access the types of trade that you want to execute as well as your personal cabinet section. You can access information such as trading history and banking transactions in your personal section. Do you want to reach out to the support team? Their support option is also in the personal section.
The platform offers real-time charts to help you follow changes in the price of the desired asset. The feature is very useful since it is not advisable to make a blind move and expect to earn great profits.
If you are looking for a tool that will help you analyze your trades, be sure to get it from the technical analysis panel.
The platform allows traders to either use a tick chart or candle chart. Unlike most broker websites, which use candlestick chart, you can also use tick chart to enhance your trading experience.
The trading platform also has traders’ choice indicator, which allows a user to have a direct view of whether the call or put is more popular than the other alternative.
We all look up to those who are experts for us to get some insightful ideas in whatever we want to do. We found out that IQ Option understands this. Hence, they have a place where you can view top investors’ statistics and best deals. If you decide to follow their example, you can get quick insights on how to go about in the profit-making trading of binary options.
Based on the technical analysis, you can also make informed future price movements. If you are green when it comes to interpreting the charts for yourself, predictions from professional investors can come in handy. These technical analyses cover the performance of assets, their prices and changes in the trend.
They also have relevant financial news. We cannot always depend on our intuitions and experience for successful trading experiences. We need to familiarize ourselves with economic news from around the world to make informed choices. With IQ Option, the good news is that there is no need to search all the major economic news outlets by you. The broker has done the legwork for you. Simply go to their website and avail the news before making a trade.
As we have seen, the platform will optimize every space of your screen to ensure you do not miss anything when trading. Forget those flashy and pushy sales messages that are characteristics of most websites out there.
A smart-phone app that allows users to trade on the go is also available with the IQ Options. You do not have to stick on your chair behind your computer all day long. As such, trading success goes on even if you are traveling. If your operating system is Android or iOS, you can have the app to make your trading experience just a few clicks away wherever you are.
With a smart-phone app, you can access your account and proceed to place new trades. You can also deposit, withdraw and do other things with your account. Accessing IQ Option Trading Platform on your smart-phone does not limit the benefits that the broker provides. You just enjoy the same benefits as a person using a laptop or tablet.
IQ Options Mobile App
Every trade requires a minimum investment of $1 to execute. In our view, this is the lowest amount in the industry. Hence, you do not have any financial excuse as to why you cannot trade binary options. Their maximum investment requirement is $1000 per trade. The amount is enough for high-rolling traders who are willing to accommodate high risks to increase their yields. For instance, you can increase your stakes as high as you desire by setting some $1000 to investments in a row.
IQ Option values security and safety when it comes to handling traders’ transactions and money. They always make sure they have sealed every loophole through which cyber theft and fraudulent transactions tend to mushroom.
As one of the licensees of CySec, they have to ensure they have followed every protocol and procedure. Their priority is to put the client first before anything else.
Another thing that makes their banking process to be top notch in the industry is the fact that they accept a wide variety of payment methods.
If you fancy using credit cards, you can choose from the major credit cards available. For example, you can use Visa or MasterCard. The method provides quick and easy transfer of money between you and the IQ Option account.
For users that prefer the traditional money transfer method, IQ Option provides bank wire transfer. It is crucial to consult your bank for the charges associated with this method of payments to avoid inconveniences. Although the method is secure, you will have to wait for more than five days before your funds land to your bank account.
You may also choose to use Skrill, WebMoney, QIWI, YandexMoney, Liqpay, Paypal, or Moneta.
IQ Option always ensures clients receive the funds they have withdrawn from their account within 1-3 business days. For VIP account holders, withdrawal process takes less than 24 hours. IQ Option charges a withdrawal fee that ranges from $5 to $10 based on the method you have used to withdraw your funds. As much as one can withdraw as low as $10, it is recommendable to withdraw more than $50 or so to reduce withdrawal expense.
A website that puts its clients top on the list of priorities is worth joining. The website wants to see to it that every trader finds comfort and security when trading binary options. If the traders experience any problem whatsoever, there need to be diverse means through which he can reach the support team. The support team should consist of highly professional personnel that deal with each query without leaving any stone unturned.
In our view, we think IQ Option Customer Support is a dedicated team that ensures clients make profits without having to go through headaches. The team has knowledgeable professionals that can ensure you an answer within no time.
We found out that even though the special target of IQ Option is the Russian clients, most people from around the globe could access and enjoy their services. They support many languages, such as English, Spanish, Portuguese, Indonesian, Italiano, German, Korean, French, Norwegian, Swedish, and Turkish. In our view, we think IQ Option is one of those websites that has embraced a high level of multilingualism. Most competitor websites support only a few languages, hence limiting a huge number of clients who want to be traders in binary options.
They have an FAQ section that provides answers to the most common questions that exist among traders that come on their website. The answers are straight to the point without beating around the bush. However, in our view, we believe the answers to the frequently asked questions are few. Some clients may fail to get answers to their questions. Hence, we recommend that you keep in touch with the support team in case of any issue.
If you encounter any issue or need clarification, simply hit the “Contacts” button. The website will take you to a web form where you will have to fill some basic information about yourself and the question. After clicking the send button, a customer service member will be back to you with an appropriate answer within no time.
You can also inbox them a message via their email contact to seek a more comprehensive answer. Their website also provides company addresses for their services. Hence, you can send them a letter if you find the channel to be more convenient than other means. Of course, you will have to wait for long to receive back a reply.
However, our team failed to find and use Live Chat feature on the website. We believe a great broker like IQ Option needs to have such great features to make it possible for communications. A Live Chat offers an instant mean of communication. We all know that time is precious when it comes to trading binary options. Thus, we believe that the website will realize this and add the chat feature. They should also add a Skype contact since it would allow for some personal facial contact. Nonetheless, IQ Option has provided phone contacts through which you can reach their support team without much effort. Be sure to get an answer to your question at a go, even though you will have to pay telephone charges to your provider.
Overall, our team concluded that their support services are at the top of the industry since they provided us with appropriate answers to our questions.
We all know that knowledge is power. Every mean of earning a living or extra dollars needs you to learn at least some basic skills. As you built on these skills, you can become a professional in the venture. Hence, whether you are a novice or seasoned trader in binary options, be sure to look for a website that provides comprehensive learning materials to get you going. An excellent broker will not leave you to guess your way forward since it will guide you through all the steps.
In our view, we give IQ Option a thumb up for its excellent learning materials in its Education section of their website. The section contains a plethora of videos on diverse topics to ensure every client gets a chance of being topnotch in the industry.
Their platform review video tutorial will walk you through the basics of using the platform to make trades. The IQ Option does not use a background voice of someone trying to explain the features. Rather, they use eye-catching and appetizing images of the platform and its usage to drive the message home. Within 30 seconds, you get a clear glimpse of registration requirements, minimum deposit, placing a trade and other details. The successive videos give more details about the respective features and usage of the platform.
The Registration and Interface video tutorial gives detailed information about the process that you need to go through in registering your account. You will find out that the process is stress-free especially after going through the video.
A serious trader should never go to the trading ventures without strategies. You cannot go to war without all the necessary weapons. Since IQ Option understands this, they have a rich library of video tutorials that teach clients on several strategies and using them to bring in profits. Be sure to follow the videos to get a good grounding when it comes to using diverse trading strategies such as Japanese Candlesticks, Pi-Bar Strategy, the Rebound Line Strategy, Three Black Crows Strategy, and the breaking line strategy.
Apart from the videos, the section provides useful information concerning the various technical analysis tools for every trade. We found out that a user needed to sign up with them before he gets a pass-way to the resources and tools.
The endless quantity of educational materials also includes free webinars and informative e-books. The use of these extensive materials will put you in a better position than before to make great profits. Therefore, the next time you log into your account, spend sometimes to go through the materials. You will thank us later.
Trading strategies and resources
As we said earlier, IQ Options provides a rich variety of strategies that helps clients make a kill in their trading ventures. It is the features that made us conclude that the platform provides clients with great knowledge when it comes to binary options. The resources are so many that every new user can easily get a strategy to use in a particular trading situation.
Any professional trader will advise you to be attentive to the direction of trends and their strength. IQ Option avails Alligator, a versatile indicator of the trends in the market and periods when trends are not there.
For you to place a trade, it is crucial to identify the exact entrance points. The task can prove to be daunting to any trader because it requires a lot of time to analyze markets and determine their conditions. However, IQ Option has availed the RSI, one of the most popular oscillators that operate perfectly on diverse market situations. Since every market condition has a different entrance point, you need a technical indicator that will find the exact entrance. Their RSI oscillator is the tool of choice since it will give the exact entrance as quickly as possible.
IQ Option also gives clients full access to Bollinger Bands. Have you ever heard of such a term? If not, do not worry since the use of the indicator is as simple as 1-2-3. As a popular technical analysis indicator, Bollinger Bands defines the movement of a “normal” price range for a particular asset.
Every investor can access these and many other strategies and indicators to make technical analysis. Once you land on the trading platform, they are there for you to use. You can effortlessly view the movement of trading trends on the technical analysis panel. You do not have to strain to make a trading decision based on completed analysis.
IQ Option offers one of the most handsome payouts in the industry. if you trade well in a right condition, be sure to earn as much as 93% on your investments.
A great binary options broker needs to avail rich opportunities for every trader to make mileages in profits. A great number of assets is one way through which brokers can avail these opportunities. A website that has just a couple of assets is not worth joining.
Our review found out that IQ Option has vast assets in all the four common categories- Commodities, Forex, Indices and Stocks. The availability of assets depends on the working hours of the exchange. When we last visited the website, there were 32 out of 79 assets trading at that moment.
They offer gold as a trading commodity. In our view, IQ Option needs to add more commodities from which traders can select when trading binary options.
The stocks that were trading at that moment were 11 out of 22. They include AUD/CAD, AUD/CAD (OTC), EUR/GBP, EUR/GBP (OTC), EUR/JPY, EUR/JPY (OTC), EUR/RUB, EUR/RUB (OTC), and EUR/USD. Others include EURUSD (OTC), GBP/JPY, GBP/JPY (OTC), GBP/USD, GBP/USD (OTC), NZD/USD, and NZD/USD (OTC).
On the other hand, indices include CAC 40, DAX, Dow Jones, FTSE 100, NASDAQ 100, Nikkei-225, and S&P 500. At the time of this review, the indices that were trading were three out of the available six.
Seventeen out of the available fifty Equities were trading at the time of carrying out this review. The Equities include IG, Allianz, Amazon, Apple Inc, Barclays, Boeing, British Petroleum, Chevron, China Mobile, Cisco, Citigroup, Coca-Cola, Commerzbank, Baidu, Banco Santander, Bank of America, Daimler, Deutsche Bank. Others in the list include Rosneft, Sberbank, SocieteGenerale, Toyota, UniCredit, Verizon, Vodafone, WALMART, and Yahoo!
As we have seen, you can always get an asset to trade with on the platform.
Awards have a way of showing genuineness and competency of the winner, particularly if the awards come from an independent body. Since most fraudulent brokers are out there to con traders their hard-earned money, always be on the lookout. A broker that has scooped some significant awards is worth considering.
IQ Option is an awarding winning broker who has gained recognition as one of the thought leaders in the industry. Experts from MasterForex-V awarded the broker as the ‘Most Trusted Binary Options Broker.’ Thus, you can always trust the company when conducting transactions on their platform.
The professional financial world also recognizes IQ as a company that provides industry-leading services that most brokers have failed to offer. The broker always embraces innovative approaches when serving their customers. For this reason, Show FX World conference in Moscow saw the company walking away with an award of the ‘Most Innovative Binary Options Broker.’
If you thought those are the only awards that IQ Option got, you are wrong. Race Award recognized the broker’ affiliate program as the ‘Best affiliate program in the industry.’ As such, the award confirmed that the broker would not disappoint anyone who wants to make extra cash through their affiliate programs.
Awards of IQ Options
Our Final Conclusion
In conclusion, we highly recommend IQ Option for all your binary options trading needs. Their unique platform is the top-most feature in the industry that brings about the much-needed comfort and reliability. Their professional support team is there to handle every issue within no time, despite some drawbacks. Since the broker has scooped several significant awards, we believe every trader should trust it. Furthermore, their safe and secure banking processes, easy-to-use features, and education center brings a sense of professionalism and comfort to every trader, whether novice or veteran.
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