Review: IQ Options – the possible future of binary options with a great design, but lacking in available assets

Review: IQ Options – Great Design, but Lacks in Available Assets

Monday, 17/11/2014 | 17:34 GMT by Vasil Velev

IQ Option impresses with a new binary options trading platform. The innovative software shortens the distance between the binary option and the rest of the trading world. Will this alone, however, make it the trader's choice?

Review: IQ Options – Great Design, but Lacks in Available Assets

Created in 2013, IQ Option is a binary options broker owned and operated by Alta Vista Trading Limited, Seychelles. In the company's own words: "We set a goal for ourselves - to invent the best binary options trading solution in the world. With the latest technologies and innovative ideas we've created a platform which gives our clients an easy, smooth and fun trading experience." Let's see how they have fared.

IQ Option's home page presents a cool looking 3D chart with candles and quotes. There are no nonsense advertisements, just the ones that differentiate IQ Option from the rest. Like for example, 92% payouts. Yes, please!

Apart from the most notable feature the home page is simplistic but well-designed. The broker claims to be the first to offer "absolutely free demo accounts," and while this is difficult to verify, the demo account is available after a quick registration and for an unlimited time.

So, what exactly is so innovative and smooth about the platform? As soon as you get access to it you can see that the platform looks like a real dedicated Trading Platform and not just one that has widgets attached to your browser. It is so absorbing, that you may forget that you are using a browser altogether. It actually looks like a trading platform that was designed by a trader. It is very intuitive and easy to use as well.

The chart itself can be a line chart or a candlestick chart, which is another very useful trading feature. But it is at this point that we have to mention that the chart is somewhat short on time, if you will. The maximum time frame is one minute and you can go back no more than 30 minutes.

The asset list is not the longest, but it will be sufficient enough for traders who don't rely on the exotic FX majors and some crosses. The only commodity is gold, several of the leading world indices and a larger number of stocks. Total asset number is currently 64.

These assets can be traded in what is basically one option type that is divided into two - digital and turbo. Digital are standard digital options that will expire every 15 minutes or at the end of the day. Turbo options, unlike what other brokers offer, are like mini digital options that expire every minute. For example, you can trade a turbo option that will expire at 12:31,12:32 or 12:33.

In the case of IQ Options, the chart performance matches option availability - and this is shorter term trading. Payouts can be as high as 92% and sometimes higher, but it will depend on market conditions.

Depending on your deposit amount, there are two account types available that can offer "up to 60% return in case of wrong prediction." An entire educational section filled with training videos is also available.

Overall, IQ Option brings a new dimension to the binary options market. Their innovative trading platform is definitely a taste of things to come. While it is IQ Option's strongest side, the broker needs to expand what they offer in terms of assets and option types. If it does, it has the potential of becoming one of the biggest names on the market.