IQoption Review

IQ Option is operated by IQ Option Europe LTD, registration Number HE327751 and located in Silver House Business Centre, 19 Spyros Kyprianou Avenue, 3070 Limassol, Cyprus and regulated by CySEC, license number 247/14. The address for the company office is at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus. Support is available on telephone number, for UK dial +44 20 8068 0760. See iqoption.com/contacts for more support numbers worldwide.

 

Is IQ Option a Scam?

IQ Option haven’t raised any Scam suspicions so far. In fact it’s a transparent brokerage, operated by IQ Option Europe Ltd., a company regulated by the Cyprus Securities and Exchange Commission (CySEC), under License number 247/14. The company who operates the website is also easily found in their “Contact Us” section so I guess there’s no reason to be worried.

In addition, the broker has maintained a relatively high and stable stream of traffic to their domains: IQoption.com and eu.iqoption.com. This means that the traders are satisfied and the company is healthy with a good reputation.

*General Risk Warning: The financial services products offered by the company provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Editor’s Note – Why IQ Option Doesn’t Suck in 50 Words
Finally, after what seems like ages, I find a brokerage that doesn’t look like a carbon copy of every other broker on the market. IQ Option is trying to do something different starting with the website layout, the education and of course the innovative, highly functional, trading platform. They also offer a free Demo and I mean really free, without any of the shenanigans like “Deposit 100 bucks in a real account and we will give you a free demo”. I opened the Demo in about 15 seconds.

Why Does IQ Option Suck in 50 Words
I am sorry to say but their expiration times are too limited and I believe this is one of the main issues I have with this broker. Expiry is pretty dynamic, but all purchased options expire by the end of the day at most, so long term traders will feel left out. However, that being said, this is one of the better platforms for short term intra-day traders. Other reasons it may suck is a relatively short asset list and the fact they only have call/put (high/low) style options.

Should I Open an Account with IQ Option?
Right from the start I can see I am not dealing with the usual Binary Options website that shows me a glamorous girl, a limousine or stacks of money. The first thing you will notice is that the home page is free of cheap marketing tactics and instead show me 3D chart which moves continuously. To be honest that makes me feel like I’ve accessed a trading venue, not an online casino like a lot of the other brokers on the market.

IQ Option entered the marketplace in 2013 and since then they’ve done a great job at differentiating themselves from other brokers. First of all, their platform is proprietary, you won’t find it anywhere else. The biggest advantage is the charts, where Japanese candlestick charts and a a list of many technical indicators like Moving Averages, Bollinger Bands, MACD, RSI, Stochastic an 7 others can be used. This is a big thumbs up because as we know, usually binary options brokers severely suck when it comes to charting and additional technical tools.

Something that many traders will be happy about is IQ Option’s low minimum deposit of just 10 US Dollars, and of course the free Demo account that is really free. Registration is easy and you can start trading immediately on Demo – for a real account, your IDs need to be verified as is the case with all CySEC brokers. Traders who want to feel “special” have the option to open a VIP account for as little as $1,000 and they actually get VIP treatment: up to 60% return in the case of OTM trades.

The asset list is OK but not as full as other platforms, there are 79. Only two commodities are present, gold and silver, there are 21 indices, EU and US, but the forex is really good, 24 of the top pairs. Expiry is especially great for short term traders who like to trade 1 minute up to 60 minutes. It’s obvious that the focus of IQ Option is short term traders so if you intend to trade long term options you will be disappointed. Because longer term expiry is not yet available. Options are limited to high/low, there are no range, boundary or one touch.

IQ Option Complaints
We found a list of complaining clients on pissedconsumer.com and the complaints are increasing gradually. Most users complain regarding return percentage changes during volatile markets, some complaint about platform freeze or expiry strike being different then the market price. We also found many complaints regarding withdrawals and blocked accounts and untrue quotes. Some people compared the IQ Option charts to MetaTrader but if you look carefully, they failed to notice that the IQ Option charts and MetaTrader where not using the same time interval (in some cases). On the other hand, we also found many satisfied people claiming they had no issues with their withdrawals. In regards to price delays and price issues, you may feel relieved to hear that CySec recently withdrew a fine that was issued for “not executing orders the best possible way for their clients”. This means that their platform is working in accordance with CySec rules and not cheating the clients. Finally, there are complaints regarding customer service, however, users must understand that IQ Option has limited live customer service.

In conclusion, their minimum deposit is only 10$ and there seems to be a good number of satisfied traders using this broker with no issues and knowing that CySec took back their fine regarding the executions on their platforms is another very good sign!

IQ Option Regulatory Announcements and Warnings
30.9.2016: CySec fined IQOption for various reasons that were not in accordance with the regulator’s terms. One of which included a fine for “non-compliance with section 38 of the law” which is about order execution was recently (Jan 2017) revoked by CySec once IQOption managed to prove they were acting properly.

IQ Option Bonus
Bonus is no longer available at IQOption in compliance with the new CySEC regulations.

IQ Option Withdrawal
There is no minimum withdrawal amount but the minimum deposit is $10. A transaction will be processed in 24 hours. The money must go to the same source they originated in order to prevent money laundering. Also, before being able to withdraw, clients have to provide identification documents, which is another practice required by anti-money-laundering rules. Further, withdrawals can be made by just about any eWallet on the internet which gives the fastest payouts, within hours of processing unlike CC or wires which could take another 7-10 days.

IQ Option Extras
Candlestick charts are considered an extra for binary options brokers even in this day and age. It makes me almost sad to say it, but it’s a fact so they get bonus points for it. Their innovative platform can also be considered an extra feature as are the many tournaments for trading that they offer.

IQ Option Ratings
User Friendly 18/20

The website is available in thirteen languages and that is above average but the platform can be a bit hard to get used to, especially for a new trader; however, I don’t think this will be a big problem because it’s pretty intuitive. Everything else on the website is well structured and easy to find. US traders are not accepted. Check the terms and conditions for the full list of countries that are not accepted such as: Australia, Canada and Belgium.

Number of assets and expiry times 15/20

They offer 32 stocks, 24 currency pairs, 2 commodities and 21 indices, which is too few for a broker who wants to become a leader. The expiry times are limited to “Turbo options” (60 sec, 120 sec) and short term (3 min, 5 min, 15 min, 30 min, hourly) with the longest being end of day.

Commissions, Support and Effective return 17/20

There are no commissions to use this broker, standard for the industry. There is however a dormant account fee after being inactive for 90 days in a row but the it’s only an annual fee of 50€ but it won’t be higher than your account balance. Support is little iffy, there’s no Live chat, only phone or email which isn’t a problem once you open an account. The effective return for successful trade goes up to 91% which is one of the highest in the industry, and they also have a OTM refund that can be pretty substantial for VIP traders.

Deposit, Payment and Bonus 18/20

The minimum deposit is $10 for a Real account and $300 VIP account. Deposits can be made via credit cards, wire transfers and e-wallets including WebMoney, Skrill and Neteller. Withdrawals can be made through the same methods. Bonus is not longer available due to CySEC new regulations. Withdrawals are processed within 24 hours.

Extras 13/20

As I mentioned before, their platform is an extra on its own because it is unique. Just a basic form of technical analysis can be conducted but it’s still much better than what others have to offer and there are 12 of the most popular indicators to use as well. The tournaments are another nice extra as they allow for lots of extra income, for the best traders of course. Lacking some features most major platforms includes.

OlympTrade Review

OlympTrade is owned by Frandom Holding Ltd and Smartex International Ltd. The latter, Smartex, is registered at the FinancialCommission.org/ that is said to function as a complaint resolution authority for unregulated forex and binary options brokers. Smartex registered Address is: 103 Sham Peng Tong Plaza, Victoria, Mahe, Seychelles. The phone number is: +357 25030996. Olymp Trade is mainly focused to offer Binary Options in Russia. The company is also registered at FMRRC which stands for ‘Financial Market Relation Regulation Center’. It is a non-commercial organization created for the purpose of regulating brokers. Basically, a broker pays to become a member and to receive a certificate. According to FMRRC’s own website, the role is to “provide traders with maximum security of their transactions in financial markets.”

Is OlympTrade a Scam?
Recently, in 2016, Olymp Trade also became accepted as a new member to the FinaCom (Financial Commission). Just like FMRRC, the FinaCom’s role is: “the services of the Financial Commission is to provide its customers with a neutral 3rd party mediator to help resolve complaints in cases of disputes where customers are unable to come to an agreement with their broker.”

The remaining question is whether these two websites and third party “regulators” can really provide Olymp Trade’s clients with a safety similar to what CySEC can provide?
According to an Olymp Trade representative in our forums, they have also applied for a CySEC regulation regulation but we’ve seen that ploy before. Another source, Financemagnates, writes: “Acting on the principles of Dispute Resolution Organization (DRO), the Financial Commission tries to guarantee traders protection (e.g. offering a compensation fund of $10,000 per case”. I am not certain what “tries to guarantee” means but a compensation fund does sound comforting if true.

Editor’s Note – Why Doesn’t Olymp Trade Suck in 50 Words
Olymp Trade doesn’t suck because after registration, you will immediately gain access to a free 10,000$ demo account. Furthermore, the company is a member of the Financial Commission (FinaCOM PLC). This is a third party and a neutral authority which is there to resolve complaints made by traders.

Why Does Olymp Trade Suck in 50 Words
One of the downsides is the very limited assets list. There are only 13 tradeable assets and only two categories of them; currencies and commodities. The second reason why I am a bit skeptical is regarding their regulation. The FinaCOM seems to have been around for a couple of years but I am not sure whether they are as effective as CySEC or not. Another reason for concern is the FMRCC regulation, a non-official source of oversight based in Russia. Time will tell.

Should I Open an Account with Olymp Trade?
Moving on to the unique and proprietary Olymp Trade platform. Once inside, you may to switch between demo and the real account. The demo account is set to 10,000$ and the minimum trade size is only 1$. Yes, that means you can do 10,000 trades for practicing purposes before you run out of virtual cash. The best part is all the tools, indicators and the advanced charts the platform offers. If it’s not enough, you can select the technical tab and it will open yet another chart with even more tools. Basically, it’s just like a light and mini version of MetaTrader 4.
Execution is fast and to make it even faster you can switch to One Click trading at any time so you don’t have to confirm trades before execution. Furthermore, VIP members will benefit from a 90% payout which in relation to many other brokers is well above average. To become VIP, you “only” need to deposit $2000.

In conclusion, the efforts are good. The platform is well-designed, the education center comes in many languages and the 10$ minimum deposit together with a free no-deposit demo is a very welcoming gesture. There are bonuses for first time depositors and the bonus policy is not aggressive. You can choose not to accept a bonus at signup. Read more about Olymp Trade bonuses further below. My only concern is whether the Financial Commission and the FMRRC can really do a job that equals them to a regulator and that remains to be seen, I am skeptical. If you have any experience trading with Olymp Trade, join our forum discussion and share your information.

Olymp Trade Complaints
This broker is very new and due to their clients mainly being from Russia, it’s difficult to find English complaints. I did however find a website (mywot.com) with Russian comments and translated as many comments as I found. Unfortunately, most of them seemed to be regarding binary options in general and coming from people who had only tried the gambling approach. Some comments were positive about Olymp Trade, regarding the benefits of the technical tools on the platforms and withdrawals not being troublesome.

A few complaints were regarding price differences where a client claimed he had executed trades on two different PC’s at the same time with different results and the other claimed the demo prices were different than the real account (not sure how you can manually execute two trades at the exact same time unless you are using a software, this was not mentioned in the comment). Therefore, I’m not sure whether those claims are true or not but some delays and price differences are typical with all brokers (as other commentators also pointed out in the comments).

Olymp Trade Ratings
User Friendliness 17/20
The website is user-friendly thanks to the inside platform interface guide that explains each section of the platform. The FAQ section includes answers to many questions that a client may have and the “about company” page explains Olymp Trade’s goals and everything you need to know about them. Thanks to the instant access to the free demo account after registration, practicing is not a problem for the beginner. Finally, the education section is not restricted and comes in 10 different languages.

No. of Assets and Expiry time 8/20

The number of assets are only 13 of which 10 are currencies and the remaining are commodities.
Interestingly, you can type your own expiry times in the Olymp Trade platform. However, you may not enter a value below 1 minute and not above 180 minutes. You cannot enter half minutes either. There are no other types of options other than the high and low but OTC trading is available, even during holidays.

Commissions, Support and Effective Return 17/20
The returns are at 80% during market hours and with a deposit of 2000$ you can increase the payouts to 90% which is very high in relation to many other brokers. There are no commissions at Olymp Trade. A live chat is available and the email support promises a response within one business day.

Deposit, Payment and Bonus 17/20
The minimum deposit is only 10$ and the VIP account only requires 2000$ and is considered to be fairly small in relation to other broker’s VIP accounts. Bonuses depend on how much you deposit but a 100$ depositor gains 100 in bonus. You are required to turnover 25 times the bonus volume before you can withdraw the bonus, your own funds can be withdrawn prior to reaching the turnover but it will also cancel the bonus.

Website Extra’s 15/20
The unique Olymp Trade platform offers many tools. There are candlestick charts offering several time frames and indicators to choose from. To name a few, there is RSI, MACD, SMA and Stochastic Oscillator. Clicking “technical analysis” will give you access to a fully functional candlestick chart where you can draw lines, change time frames and use a larger variety of tools and indicators! One click trading is also available and the platform can be switched from Live to Demo with a couple of clicks.

Finpari Review

Finpari is an exciting binary options broker that was founded in 2014. They are proving themselves to be a force to be reckoned with in this competitive space. We’ve narrowed the reasons for their success down to using a proven platform, offering multiple banking options/quick withdrawals, but mainly – their diligent approach to looking after their customers. They seem to truly value and work with their traders to ensure your trading experience is second to none.

The company was founded by a group of individuals from the financial markets. This is one of our preferred scenarios for online broker ownership, as it means Finpari benefits from the experience of professionals that understand what you need. They focus on providing you, the trader, with the tools required to help you succeed .

The company has registered offices in the Seychelles under the company Lerona Impex SA. They also have a second company registered in Scotland called Norske Inter LP. Despite the multiple offices and size of their operations, Finpari is unregulated and operates as an offshore broker. The platform is open to traders from ALL REGIONS, except the USA. They have however operated with huge success in providing services to traders from across the rest of the world. Their banking is conducted within Europe, and in a practise found with regulated brokers, they also separate operational and customer funds, thereby safeguarding your investments.

Customer service seems to be paramount for Finpari regardless of the experience/deposit amounts of their traders. I also found out that the team at Finpari are incentivised to help traders make money – a truly refreshing bit of knowledge which explains their eagerness for support and account management of a high standard. This also means the broker is perfectly suited for less-experienced traders. High volume/value traders are also very much catered for here and a number of tools necessary for successful trading are provided.

Trading Platform and Features

Finpari is powered by the Spotoption Spot 2.0 platform. This is a fantastic, and well proven piece of software. It requires no download and it is very intuitive. The platform is web based, and also available as an app on both Android and iOS devices. This makes trading possible anytime and anywhere. You can access your account, place trades, and track your open and expired positions directly from your phone. The Spot 2.0 platform is also optimized for mobile web use, so it works equally well with your mobile browser. The platform truly does shine, not to mention the mobile variants make trading at Finpari highly suitable and convenient for traders with busy schedules.

We have no hesitation in recommending Finpari for use by both beginners and experienced traders alike. With seven trading tools based on different strategies, and the functionality to trade using one or all of the tools simultaneously, the broker works well on both short term (30 seconds) and long term (one year expiration) strategies. The investment amount per trade is also highly attractive as it starts from as little as $1 and goes up to $1500. This safeguards traders and allows you to exercise a risk management/scalping strategy with your funds. If you wish to make larger trades, simply ask your on-screen livechat support representative for more information.

You can trade your own strategies as an experienced trader or use all the tools provided by the platform to succeed. An example of this is the standout “Spot Follow” feature. This allows you to monitor Finpari’s most successful traders and copy their trades/positions for optimal results.

Trading Accounts and Payouts

Finpari offers 3 types of accounts, each with 1-hour withdrawals, full access to their invaluable support team and a number of other account-specific benefits. The minimum deposit amount is $250, however, the account-type you are assigned depends on your deposit amount; the higher the deposit, the better the account type/perks. Note: The 1-hour withdrawals are a unique feature to Finpari.

All traders are also entitled to a demo account, which can be requested after your first deposit. The demo account will allow you to get a feel for the platform and practice your strategies within the same trading environment as the real account.

Trading Account Types:

Bronze
A deposit of $250 – $999 will provide you with access to the Bronze account. This provides access to a demo account and a trading course (e-book and video). You also qualify for a 20% bonus on the invested amount.

Silver
Deposits of $1,000 – $2,999 will provide you with access to the Silver account. This account also provides you with access to a demo account and a trading course (e-book and video). What sets this account apart is the benefit of a 50% bonus on your deposit amount, 3 risk-free trades and a Master Class Web training session. You may also be eligible for trading protection (%-based return of funds lost. Ask your account manager for more details. Terms and conditions apply).

Gold
Deposits of $3,000+ will provide you with access to the Finpari Gold account. This account comes with a very attractive 100% bonus on your deposit amount. You will also benefit from all the perks of the Silver account, but also a personal account manager. This will make a huge difference to the progression/success time-frame of less-experienced traders, and provide assistance in managing more complex trades/strategies of more experienced traders. All Gold account holders will also receive a prepaid credit card to streamline the deposit and withdrawal process.

 

Banking Options

Finpari offers a huge variety of trusted payment methods for both deposits and withdrawals. Payments can be made through all major credit and debit cards, including AMEX. In addition, Finpari provides alternative payment methods, such as Neteller, Bitcoin, UnionPay and a number of others.

Deposits
You may fund your account by using any currency, but trading accounts are only offered in three major currencies: EUR, GBP and USD. The deposits can be made by using credit/debit cards such as AMEX, wire transfer and e-wallets. The minimum deposit is $250 and there is no maximum deposit limit. Finpari was one of the very few brokers that worked with PayPal, however they have since replaced this with specialist wallet (and my preferred deposit method); Neteller. This and other e-wallets they partner with make handling payments secure and easy. The extensive list of banking options is a great indicator of the financial stability at this broker.

Withdrawals
The biggest selling point, and highly attractive feature of Finpari, is the speed that withdrawals are dealt with. The broker processes withdrawals within one hour of their approval, (approval is also a speedy process). This is a unique feature for Finpari and provides traders with the opportunity to manage their funds as it suits them.

Withdrawals are processed back to the origin/source of deposit. Therefore, traders using bank wire to make deposits will receive funds back into their funding bank. The same applies to credit card deposits, however, any funds above the initial deposit amount will be forwarded to an available e-wallet such as Neteller.

 

As you can tell by this positive and glowing review; we are fans of Finpari. It’s hardly surprising, as they really are a well-rounded package!

Benefits Summary:
Open to all regions except the USA (since December 2016)
Numerous popular deposit options & 1-hour withdrawals (unique to Finpari)
Proven technology providing multi-platform trading
Truly spectacular multi-format trading support

Finpari is one of the only binary options brokers open to traders throughout the world. There are very few brokers that offer this freedom, collaborate with major payment systems, and provide this level of speedy transaction handling.

Our research also indicates that the company has invested heavily in their infrastructure and financial backing, providing additional security to traders. We tested their communication, efficiency authenticity, and Finpari passed all of these admirably. It gives us great pleasure to rate this broker with the four stars.