IQ Option Review - Is it a Scam? [South Africa, 2024]
Category Winners
Why we recommend IQ Option in South Africa:
Not a Fraud
Recommended
Free $10,000 credit for demo account
IQ Option is a trading platform founded by Dmitry Zaretsky. Users of this platform get access to a varied range of trading instruments. A large volume of customers are satisfied up to date due to the platform’s consistent updates and trading recommendations.
This trading platform offers technical support in 19+ languages along with dozens of free materials to study how the platform works and how to maximize your trading profits. What’s best, IQ Option provides traders the leverage of building their financial portfolio across bonds, commodities, CFD (contract for difference) stocks, and so much more.
Note: IQ Option alone has over 15 million users in South Africa and offers convenience by allowing trading through PCs and smartphones.
Despite all the proven perks, access to tried and tested trading methods, and numerous awards being won by IQ Option, a doubt still lingers amongst society, stating, “Is IQ Option safe or is it a scam?”
Let’s talk about what IQ Option is, its reliability, an overview of the trading platform, the registration method, varying account types, and a few more factors that should set the tone for the rightful hype they deserve.
What is IQ Option?
IQ Option, founded in 2013, is a multi-asset trading platform that continues to grow tremendously by the day. The CEO of IQ Option is Timofey Baranov, and he sustains the company’s image across 30+ countries around the globe.
Let’s look at a few statistics that will excite the trader in you:
- 800% rise in transactions per day from 2014 to 2020
- serving over 70 million registered users with thousands more joining in each day
- over 2 million active users who trade on a daily basis
- traders withdrew approximately three times more financial assets over the past four years
- trading volume increased by more than 2100% over the past seven years
- instant withdrawal feature granted over 68% successful withdrawals immediately (11 hours average time otherwise)
- streamlined customer chat process has an improved response time from 2 minutes to 43 seconds over seven years
- similarly, responses to email queries are now received in 20 minutes as compared to 14 hours in 2014
- 79 support specialists proficient in various languages are at your service
- present order processing duration of 0.6 seconds
- affiliate partnerships increased from 48k in 2016 to 142k in 2020
- driven affiliate partners earn approximately 3 million USD a year in 2020 as compared to 200k USD in 2014
IQ Option continues to propel through its journey of becoming the number one trading platform globally. Thus, they also keep updating their databases with stocks, forex assets, cryptocurrencies, and more.
More than all, they simplify the lives of traders by presenting a highly accurate and valuable news feed. This includes teachings on margin trading, organizing tournaments, and revealing statistical information on industries, stock collections, and other assets designed for early-stage investors.
NOT
SCAM
Is IQ Option Safe Or a Scam?
Yes, IQ Option is safe. With deserving respect, IQ Option is a premium online financial broker specializing in multiple financial trading instruments, including binary options.
IQ Option is a secure platform for traders in terms of data safety, financial security, and authentic trading. Even various expert opinions from the trading industry agree that IQ Option is legitimate in all ways.
As said by Antony Robertson, a financial analyst at the Traders Union, “The expert’s verdict is that IQ Option is legitimate. They are not a scam – on the contrary, they consistently rank on the list of best brokers for online trading.”
Regulation by Cyprus Securities and Exchange Commission (CySEC)
CySEC is the Cyprus Securities and Exchange Commission. Since the parent company of IQ Option, known as IQ Option Europe Ltd, is registered in the middle eastern country of Cyprus, it automatically lands under CySEC’s jurisdiction. They are responsible for playing the role of the regulatory body of Cyprus’s financial industry.
Their goal is to execute top-notch supervision and maintain the utmost protection of investors’ money. Further on, they continue to develop their expertise in the field and verify the legalities of all financial activities.
Being under the jurisdiction of CySEC is only one reason indicating we can confidently trust the services of IQ Option.
Awards
IQ Option is the proud receiver of many awards signifying their growth and respected brand name. Considering the acclaim they’ve received over the past eight years, and that too from various regulatory bodies, investors, and trading industry professionals, they’re most definitely not a scam!
Here’s a list of awards IQ Option has received:
Rather than covering their extended list of awards, let’s name the remaining. A few are the Century International Quality Gold ERA Award, Best Technology Application, Best Options Broker Europe 2015, and the Best Mobile Trading Platform award.
Considering IQ Option is backed with this extensive list of awards presented by esteemed organizations and trading regulatory bodies, it’s fair to say they’re nowhere close to a scam!
To top it up, all traders can rest assured that IQ Option is absolutely safe for trading purposes.
Partnerships
IQ Option has nurtured an ever-growing stream of profitable partnerships through its highly effective affiliate program. They have 245,000 affiliates and an organizational system that makes epic arrangements for affiliates. Owing to this, IQ Option’s is a go-to choice for trading aspirants wanting to profit through a partner-based system.
Here are few positive attributes that convinced thousands of organizations to partner with IQ Option, be it in South Africa, Europe, or anywhere else:
- Multi-lingual brand: Despite the consumer diversity stemming from 150+ countries, they’ve managed to retain customers speaking over 19+ languages. This flexibility in communication makes them a competitive choice for affiliate partners across the world.
- Zero balance deductions: Their affiliate system guarantees partners no possibility of bringing in the ugly image of a negative balance. All revenue solely constitutes the profits made.
- Payment frequency: No more hassle of waiting for your money earned through a partnership. IQ Option automatically transfers all your earnings at a frequency of twice per month. Even better, you get to choose your preferred digital payment medium.
- Crisp analytics: IQ Option’s affiliate partner interface offers real-time updating of the dashboard to keep their partners updated at all times. Expect a clear chart of your earnings along with filters and reports based on the manner of categorization you wish to study! Such a well-managed affiliate system maximizes chances for profits for both IQ Option and their partners.
- Cross-platform usability: Use their affiliate model on your laptop, PC, or even a smartphone. They’ve ensured that driving traffic and increasing engagement is possible through all digital channels, thus boosting results.
- Universal links: This feature is the best for their partnerships since it does more than 80% of the work for affiliates. Simply put, IQ Option auto-detects the user’s location, specifics, background, device, and other factors. Based on this, they send relevant and compatible landing pages prompting them for registration or purchase.
Support
IQ Option has set up more than enough support touchpoints for their customers across the globe. Whether you prefer:
IQ Option offers them all.
They’ve taken extensive measures to safeguard the factor of customer service and keep their customers alert at all times. In addition to that, all these support options are available in several languages such as English (US and UK), German, Portuguese, Austrian, Italian, French, and even Spanish.
Pro Tip: IQ Option has a trade room chat that segregates conversations based on Crypto, Forex, General, Idea suggestions, FAQs on application support, etc. This proves to be a powerhouse of tips to make the most of IQ Option’s trading platform.
Be it emergency assistance or a query you need to resolve, all the methods mentioned above are sure-shot solutions for your trading problems.
Note: The live online chat button is always visible on the website or their application. One-click and their customer support agents are at your service!
All in all, considering the:
they are a 100% safe and secure trading platform.
IQ Option Trading Platform: All You Need To Know
First and foremost, this proprietary trading platform offers a high degree of user-friendliness. This is accompanied with a large bunch of handy features to assist customers. These convenient features simplify the customer’s trading journey and equip them with valuable knowledge and tools that transform their investments into profits.
Expect an amalgamation of trading tools such as chart layouts, technical analysis through textual and visual data, stock screeners, volatility updates, market change notifications, etc. Moreover, the primary charts display the commodity value over time, and any transacting in the form of buying or selling is on the screen’s right side.
To make it a comforting navigation experience, the screen’s upper section displays your greatest assets and available trading balance. This coveted trading interface also houses browsing-based functions to assist you in researching specific assets.
Since you’re almost convinced of their genuineness, here’s is a list of elements regarding IQ Option’s trading platform that you must know about:
Furthermore, 12+ cryptocurrency assets are available, and that too with seamless withdrawal and deposits. Not to forget the cryptocurrency multiplier feature that proves as a blessing for traders enticed by the high risk/reward ratio factor.
Next up, you can diversify your investment portfolio by purchasing commodities (physical). This includes Crude Oil Brent, Crude Oil WTI, Platinum, Silver, and Gold.
To sum it up, there are also ETFs (Exchange Traded Funds), Options, CFDs, and many more trading instruments.
For in-app personalization, feel free to alter notification preferences, timezone, updates, email alerts, and the overall convenience of studying your investments through the trade room.
If you’re overwhelmed by the options of trade room settings, use the “practice” feature. This allows you to create different interface types and alter settings to what helps you function best.
Expect graphs ranging from Candles (hollow and standard), Bars, Area, and Line. Additionally, there’s the Heikin-Ashi chart type (and it beats candlesticks in predictive analysis).
One more handy chart-related feature is the ability to use graphical tools onto them. This increases analysis potential and allows traders to preset resistance levels, identify breakouts, and work with chart patterns such as Shoulders, Diamond, Head, etc.
Considering how market movements are fairly predictable, many traders rely on indicator combinations for more accurate conclusions.
With the infusion of such technically advanced features, IQ Option cannot be labeled as a scam trading platform. They are clearly in it for the long haul and continue to enhance security measures for the user’s financial safety.
To summarize, this trading platform offers traders a variety of trading tools. There are also interface modification options to personalize the experience as much as possible.
Don’t waste time by doubting IQ Option’s authenticity; they’re here to help us get rich!
Note: Though cryptocurrency brokers haven’t acquired a license from institutions such as FSB, keep in mind IQ Option is registered at CySEC. This permits stress-free investments with no problem of legalities in case of withdrawals and deposits.
Registration for IQ Option: Step by Step Guide
Based on your device and digital registration mode, there are four ways to register for IQ Option.
Let’s take a look at them one by one:
Step 1: On the IQ Option website, click on sign up on the right top corner.
Step 2: Enter your first and last name, country of permanent residence, valid email address, password, and tick the terms and conditions checkbox.
Step 3: Click on open an account for free.
Step 4: Open your email and accept the confirmation mail.
Step 1: Click on the Facebook icon on the sign-up page.
Step 2: Accept the age, terms and conditions, and privacy policy checkboxes, and click on confirm.
Step 3: Enter your login credentials in the Facebook login window that pops up. Click on login.
Step 4: IQ Option now requests access to your name, picture, and email address. Click on continue.
Step 1: Click on the Google icon on the sign-up page.
Step 2: Accept the age, terms and conditions, and privacy policy checkboxes, and click on confirm.
Step 3: Enter your email or phone number and password, and then click on next.
Step 4: Follow the instructions sent to your email.
Android/iOS
Step 1: Download the official IQ Option mobile application by searching for IQ Option – FX Broker.
Step 2: Enter an email address.
Step 3: Enter your password.
Step 4: Choose your country of permanent residence.
Step 5: Check terms and conditions and click on register.
Account Types at IQ Option
Being a customer-centric trading platform, IQ Option gives users the choice of opening a training, real, or VIP account. This decision revolves around the user’s trading preferences.
However, make sure to reap the benefit of the demo account, which is specially designed for neophytes. This gives you room for errors to learn the ins and outs of navigating across the platform.
The demo account ensures you’ll come across a series of lightbulb moments to influence your future in-app investment decisions!
Let’s talk about the three account types:
Training account
It’s a free demo version permitting users to enjoy features of a normal IQ Option account. You won’t even have to input your credit/debit card details.
Real Account
A slightly advanced IQ Option account, the real account permits traders to buy and sell 500+ assets. Even better, they can deal in real-time withdrawals, be it to their digital wallet or bank card.
As a real account holder, you can:
- Indulge in weekly tournaments
- Exploit the live chat feature for brainstorming or support queries
- Keep alternating between your training balance (dummy money) and present account
VIP account
Simply deposit USD 3000, and you’re in the VIP gang. Apart from the features mentioned above, VIP account holders get access to additional perks.
These include:
- Higher profitability rates (3%)
- Personal managers with a hands-on approach to resolve your account-related problems
- Free tournament entries
Now that you trust this hardworking and investment-promoting platform, don’t let this one slide because of faulty opinions! Instead, hop right in and leave no stone unturned in your investment goals.
Deposit
IQ Option deals with deposits in a manner that brings convenience to the trader’s fingertips. Whether it’s an electronic payment system, wire transfer pipeline, or a bank card, they got it all.
Above that, be it Mastercards, Visa, UPI, Netbanking, GlobePay, Skrill, AdvCash, Perfect money, or WebMoney WMZ, all modes are readily accepted.
You Can Check Our Detailed Article on IQ Option Deposit to Get all Your Doubts Clear at Once
IQ Option Withdrawal
Simply make a withdrawal request, and you’ll have your money within three business days, if not under a minute! Remember, for traders using e-wallets, make sure to use the same wallet for withdrawals.
Users can withdraw anything above USD 2. If you want to withdraw lesser than USD 2, get in touch with our support squad for further guidance.
You Can Check Our Detailed Article on IQ Option Withdrawal and Learn the Process of Withdrawing Your Money Easily.
IQ Option Download Options
IQ Option can be downloaded through the App Store or Google Play. Ensure your system meets the requirements of an iOS 9 or Android 4.4 operating system. Also, maintain free hard disk memory of at least 74 MB. PC users can get this software for Mac and Windows devices too.
Mac users must have an OS X 10.10 Yosemite, and Windows must have either version 7, 8, 8.1, or 10. Speaking of ram, video card, and hard disk requirements, a 2 GB to 4 GB ram, OpenGL 2.0 friendly for macOS and DirectX 9 for windows, with 130 MB of hard disk memory is enough.
Category Winners
Verdict
With everything said above, we repeat that IQ Option is a safe trading platform for people in South Africa, India, Europe, and all across the world. Their heavy-duty investments, global team, future plans for more advanced in-application phases, and their inspirational directors are here to make us financially independent for the incoming tomorrow.
Free $10,000 credit for demo account
FAQ
Yes! IQ Option is legal in the South African financial markets. The government hasn’t imposed any restriction which prevents South Africans from buying or selling assets on this trading platform.
A large number of IQ Option’s present clients are from South Africa and continue to profit by the day. Simply put, this digital broker has made all necessary arrangements to accommodate South African traders.
Any instances of consecutive wrong inputting of passwords will block your account. Double-check your login credentials as well. If you used another trader’s payment details, indulged in suspicious transactions, gave false information, or could not submit documents, don’t be surprised to get blocked.
At the same time, answer or submit anything the IQ Option support team requires to unblock your account immediately.
Traders use tournaments to acquire binary and digital assets. The end goal is earning more money and increasing the tournament’s value. In the end, traders topping the list are labeled as winners.
All IQ Option traders are assured regular entertainment through frequent tournaments. The frequency is usually every few days, and that too with an entry fee of a mere USD 2.
With such a highly profitable affiliate program, IQ Option continues to rope in partners every day. Most importantly, they allow partners to store revenue share and their CPA in a single account!
Scroll through their 30-day statistics, and you’ll be astonished by the numbers they manage to generate. Organizations like FXEmpire, Profit Liner, and Binary Options have been profiting largely from IQ Option’s affiliate model.
IQ Option has set up a charitable trust to support local African communities to stay healthy, educated, and skilled. Moreover, their efforts intend to bolster their financial, social, and economic lifestyles to the point of stability.
The collections are distributed amongst African communities for their nutritional and housing needs as well. Overall, IQ Option is dedicated to bringing equality amongst society and influencing African youth to venture onto the correct path.
Risk Warning:
We do not provide any investment advice and we are not responsible for any losses caused by your trading activity.
Fixed time trading and CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how online trading works and whether you can afford to take the high risk of losing your money.
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