IQ Option Deposit Bonus ➜ Is IQ Option SCAM or a reliable Broker for Binary Options, Forex and CFD? ✓ Review and conditions March 2023 Canada

About IQ Option

We need to say that the IQ Option platform is extremely simple and intuitive to use. Everything there is well built and easy to understand, especially for lay people. The company also has applications for Android and iOS.

Registration can be done with email and password and / or through Facebook / Google Account. It is necessary to verify the account by entering some registration data: name, telephone, document and address. The request for this data is normal at any broker.

The minimum deposit is $ 20.00 and the maximum is $ 40.00. The means of deposit are: credit card, boleto, Neteller and Astropay. It charges up to 9% tax on each transaction.

At the broker, it is possible to trade cryptocurrencies: Bitcoin , Ethereum , Ripple , Bitcoin Cash , Stellar, among others. In addition to crypts, it is possible to trade stocks, commodities, Forex and binary options.

Cryptocurrency trading takes place in the same way as in brokers that already work with it, such as: Bitfinex, Poloniex and Binance. Remember that you do not buy cryptocurrency, in IQ Option you can only make short-term trades to profit from their variation.

If you want to buy cryptocurrencies, look for brokerages that specialize in it.

Stock and Forex (foreign currency) trading only works during trading hours (Mon to Fri). On this platform, you do not acquire the shares of the company you are negotiating with. It is a platform for anyone who is focused on making trade and making money on price changes in the short term

Binary options: gambling?

The most prominent product of the IQ Option is undoubtedly Binary Options. Although not regulated in Brazil, it is recognized as a financial instrument in the United States (provided it is regulated), the Netherlands and Cyprus, although it is still navigating a 'gray matter' of regulation in most parts of the world.

Binary options are rated as games of chance because they operate on the 'all or nothing' premise. They are based on two assumptions: yes or no. The question asked to the investor is: will an asset be above or below a certain value at a given time?

He, the investor, must analyze and answer 'Yes' or 'No'. If your answer is correct, he wins the profit, if he is wrong, he loses everything. In binary options there is no middle ground or partial loss.

It is possible to observe that it is an asset endowed with randomness and totally unpredictable, which makes it an option of very high risk, although it has a high potential for return. However, the chance of loss is almost always greater, because the broker always takes advantage:

A binary options website paid $ 71.00 for each successful $ 100.00 deal. If you lose, you get $ 15.00 back. Let's say you do 1,000 'deals and win 545 of them.

Your profit is $ 38.00. But his 455 losses will cost $ 38.00. In other words, you must win 54.5% of the time to avoid losses.

The video below shows an example of a binary option operation done through the IQ Option platform. A US $ 200.00 contract was used for the test account. It is important to note the high volatility and randomness of the binary option in the short term:

Watch out for binary options

Binary options are often thought of as a form of gambling rather than an investment, because of repeated accumulated losses (brokers have an advantage over the investor).

In addition, they are advertised as a way to earn a lot of money quickly and easily, even with little, if any, market knowledge. What makes many laymen in investments lose money.

Gordon Pape, writing on Forbes .com in 2010, called binary options sites 'betting sites, plain and simple', and said that 'that kind of thing can quickly become addictive ...'.

He said that: 'no one, no matter how knowledgeable, can consistently predict what an action or commodity will do within a short period of time.'

Conclusion

IQ Option, so far, is a legitimate and regulated company. It offers a well-built and intuitive platform to use. It is possible to trade cryptocurrencies, stocks and foreign currencies, even commodities and funds.

However, you do not 'hold papers' or own the traded asset. Unlike traditional brokers, you only make trades betting on the appreciation or devaluation of the asset, being able to withdraw your money back if you want to withdraw from the market.

It is possible to make money from these negotiations using technical and fundamental analysis . But the investor will need to study the market minimum. It is a valid option for those who want to trade in the short term.

However, care must be taken with binary options, which are extremely random and risky and are viewed as games of chance in various jurisdictions. We do not recommend using binary options as a form of 'investment'.

In conclusion, our verdict is: the IQ Option platform is excellent and, at the moment, shows no signs of being fraudulent or pyramid. On the other hand, binary options require care on the part of lay people and investors, otherwise they will lose a lot of money.