What is the Best Binary Options Trading Platform?

Sara Abadi

, Finance

In the binary options trade, the trader is paid out a percentage of the premium if the conditions are met or lose everything. It is called Binary Option because of its only two outcomes, which are winning the payout or nothing. Since the traders are getting more interested in Binary Options trading to widen their investments, the number of traders is getting large, as well as the use of Binary Option. With that, the number of brokers offering this trading option is increasing day by day as well. 

Now it is very challenging to choose the best broker to invest and trade on Binary Option, especially for beginners. Observing trading platforms, minimum deposit, maximum return, bonuses, rules, and regulations of different brokers, this article shows why IQ Option is the best binary options trading platform.


Best Binary Options Trading Platform

Starting in 2013, the IQ Option has become one of the fastest growing online trading platforms for traders. It is renowned for its Binary Options trading too. It is the most famous broker in South Africa. It has more than 10 million digital options for traders. One can trade here by Binary Option by postulating the global market currencies, stocks, commodities, indices, etc.  

Security: IQ Option is based in Cyprus. It is monitored by Cyprus Securities and Exchange Commission in Europe. It also has an SSL encryption to get rid of hackers.


Trading Platform

IQ Option is accessible with an internet browser or mobile app. The platform is adjustable according to the trader’s wish. In the main trading screen, there are price charts, trade interfaces, active charts, which are also in varieties, and traders can choose as they like.

READ  Know Your Customer (KYC) in the Banking Industry

Account Types
IQ Option has mainly two types of accounts; Standard account and VIP account. The standard account is designed for beginners with a minimum $10 deposit. VIP account provides extended features and privileges with a minimum $3,000 deposit. It also offers a demo account to the new traders with $10,000 digital cash, which provides the learning process and a chance to trade without risking actual money. Accounts can be opened in different currencies with 29 currency pairs.

Deposit and Withdrawal
It has a wide range of payment options such as credit card, debit card, bank wire transfers, popular e-wallets, etc. The minimum deposit is $10, and the minimum investment is $1. Minimum withdrawal is $2, and it takes 1-4 working days, depending on the number of payments.

Assets
It offers a huge number of digital options, including CFD, Cryptocurrencies, ETFs, Forex, etc. 

Leverage
The leverage of the retail traders is 30:1, and the leverage of the professional traders is 1000:1. 

Order Types
Multiple traders are for increasing the return of investment, but it should be used only by the experienced traders as there are chances of high risk. Stop-loss order is to set maximum losses so that after a certain limit, the losses minimize automatically. Take profit orders is to set maximum profit to stop after the fixed limit of profits. There are also advanced orders like trailing stop orders and pre-orders.  

Charting Tools
There are different types of charting tools for traders to choose according to their choices, such as candle charts, hollow candles, line charts, bars, etc. Among all the charts, candle charts are the most popular ones.

READ  Important Things you Need to Know about Pawn Shops

Indicators
IQ Option has 13 types of indicators from which traders can choose what they want. The indicators are Moving Averages, The Moving Average Convergence Divergence, The Parabolic SAR, The Awesome Oscillator, Bollinger Bands, Volume Indicators, The Alligator Indicator, The Relative Strength Index, The Stoch or Stochastic Oscillator Indicators, The Average True Range, The Average Directional Movement Index, A Fractal and the Commodity Channel Index.

Countries
IQ Option has traders from 178 countries in the world working on 13 different languages. 

Growth
The difference between this broker between 2014 and 2020 shows how much it has grown over the years. The number of accounts has become over 5 million from 950 thousand. The countries allowing this broker has become 178 from just 18. The withdrawal processing takes one day, which used to take four days in the past. Support is available within 30 seconds, which was 420 seconds before.  

Drawbacks
IQ Option does not have any option of bonuses. It is also not available in countries like the USA, Canada, and Japan. 

To conclude, the number of brokers on the internet is growing really fast, but IQ Option is still holding its quality. It gives numerous opportunities to the traders both experienced and beginners to invest and earn money easily.