I have received several emails from people thanking me for some of my reviews that expose binary scams. I am also receiving emails asking me if I know of any legitimate Binary Options Brokers. I needed to be able to help people with this so I thought I’d look around more and do some digging. I started coming across quite a few adverts within different social media accounts for a Binary Options business called IQ Option. Their adverts seemed very professionally done so I thought this would be a good one to look into. So, is IQ Option Legit or is it just another scam site using binary options, let’s find out.
Who are IQ Option
Company: IQ Option
Company Website: https://eu.iqoption.com/en
Cost: Minimum deal $1 and $10 Minimum deposit – lowest I’ve seen so far!
Potential to make money: Not an easy way to earn money, it takes some time to learn how to work the Binary Market.
Recommend: IQ Option is definitely a Legitimate business. If you are serious about trying Binary Options then it’s a good one to try but you still need to understand you could lose all your money, as this is Gambling after all!
Rating: 3/5 Stars – As it is a legit business but not an easy way to make money.
First Few Signs
The site looked very well put together and the usual signs I look for when searching for scams where currently not visible. The sort I things I look for are limited time only and sign up now before the offer ends. So this was a good start for me I then took a step back and started searching reviews, I find this a great way to get some more views and experiences.
It was interesting to find a lot of good feedback for a change, there are usually some complaints that stand out but just a few people saying they lost their money. Remembering this is just like gambling I didn’t let that sway my decision too early. There was certainly more positive than negative.
The Risk Warning!
Everything seemed fine so far so I thought I’d sign up and have a look inside and see if I could dig a bit deeper and find out some more information. The next thing that popped up was a massive warning sign talking about the risks of investing in high-return trades carries a significant risk. The was great to see and I know legally they have to put this but that’s why I was pleased to see it. This means the site is following the rules and as most scams sites are not bothered about the legal aspects as they are just trying to steal your money they don’t use disclaimers like these.
The first sign of a legitimate business!
The Free Practice account with $1000
I have seen some demo accounts advertised by some Binary Options trading brokers but the fact that these guys give you unlimited access to your demo account as long as you have demo funds in it, to practice and learn how the Binary Market works. This is great for any newbie to try out before you seriously decide to give this a go. This is not easy money at all, even on the demo account I suck but I am still learning myself.
As you can see from my demo account I am not doing too great although I did have a good day yesterday practising trading the Amazon stocks. I managed to make a profit of $148, not bad for a newbie. Although I did lose it all again as I got a little cocky.
This is the case with any type of gambling, know when to be careful and know when to quit while your ahead. I had found a great point where the stocks were fluctuating a lot but then they started levelling out.
The Call and Put are the terms used to betting that the shares will go up and Put meaning you think they will lose the value. The idea is when you place your Call you are buying the shares for a short time at that price so if the share value increases by the expiration time then you get to sell them back at the high value, so you make a profit.
This Video is a great way to see how it works!
The good thing about this site is there are loads of training videos which are really important if you plan on giving this a go. They also have a Blog that you can read training and tips and techniques to help you understand how Binary Options works. This gives you plenty of time to study the material and practice on your demo account.
Remember this is a demo account and when you switch to a real account don’t be shocked if it doesn’t work exactly the same. This is the real world after all and as much as the demo accounts can help you understand it, it doesn’t mean that you will get the exact same results. So be warned and be careful make sure you stick to low stakes to start off with.
I successfully got my practice account up to over $1000 dollars a couple of times now but have dropped back down to £700 again. This is a really great software to learn about Binary Options and I seriously recommend anyone thinking about dabbling into this way of making money to give the IQ Option demo account a try even if it’s just to see how it works. It’s fun to play around with as well.
Is IQ Option Legit
I was even more pleased to see that not only were they following the legal requirements they were also regulated by CySEC which monitors their compliance against the Republic of Cyprus and the European Union.
Also as I live in the UK I was even more pleased to see that they were also regulated by the FCA which monitors their compliance in the United Kingdom. All of this means that they cannot commit any fraudulent behaviour else they will be taken to court and could lose their License to Trade.
You will also be pleased to hear they are also regulated by the Financial Regulators in Spain, Italy, Germany, Netherlands, France, Estonia and the Czech Republic. All this tells me that at least they are legitimate. Which sets your mind at easy with trusting them with your money.
If this review tells you anything it’s that IQ Option is definitely a legitimate business and has plenty of training material and the option of a practice account. All this before they even take any card details off you. This gives me some confidence in them as a business. Is it a great way to make money online? Still not sure, I can image once you get to learn more about the software and system you will make some profits they certainly boast great percentages but in the end, it all boils down to you pressing the Put or Call button at the right time.
Is it a great way to make money online? Still not sure, I can image once you get to learn more about the software and system you will make some profits they certainly boast great percentages but in the end, it all boils down to you pressing the Put or Call button at the right time.
With any gambling, there will always be the risk of losing but we all still give it a go. I guess that’s just part of the fun. Just be careful!
Overall I would say though if you are looking for ways to make money there are more genuine ways to make money that builds up over time and will keep growing while you sleep! If this interests you then I would have a good read of my Wealthy Affiliate Review!
My Final Verdict
IQ Option is definitely a Legitimate Business
They are regulated by Authorities so if you are thinking of giving Binary Options a try then IQ Option seems like a good choice, even if it’s just for the practice account to learn more about it. I hope you found my short review useful I will continue to add to this review as I work more with IQ Option and will share more of my findings.
Hi, I’m Graham, I’m the creator and founder of grahamhodsdon.com. So is IQ Option legit, I believe they are. Can you make money with them? Well, it’s all down to your skill of the Stock Market, it is gambling after all. If you have had any experience with IQ Options I would love to hear about it. Please Share in the comments below.