Is IQ Option legit? That must be one of the most important questions – if not the most important question – you need an answer to before choosing IQ Option as your future broker.
This article gives you an answer to this very important question.
General risk warning
When it comes to finding the right binary options broker, trust is a crucial issue. Without a broker that you can trust to give you fair trading conditions, accurate prices, and honest payouts, everything else becomes irrelevant. Similarly, without legit security measures, even the highest payouts are useless.
To qualify as a legit binary options broker, any broker therefore has to fulfill three criteria:
IQ Option scores high on all of these criteria. First of all, IQ Option employs security measurements that can compete with what the biggest banks offer on their online banking. Every communication between you and IQ Option’s trading software is encoded with the SSL standard, the safest encryption method the web has to offer. This system makes sure that nobody can intercept your password and log into your account.
Even if you should lose the piece of paper you have written your password down on, you do not need to worry. Before anybody can withdraw money from your account to a bank account or credit card you have not used before, they need to provide pictures of your passport, of a proof of resident, and, if the withdrawal is made by credit card, of the credit card that is being used. Since only you can provide all of these documents, only you can withdraw money from your account.
With the security side taken care of, we can focus on the two remaining aspects: Honest data and high enough payouts to make money. Luckily, IQ Option offers a convincing service in these regards, too.
All the data IQ Option provides are spot on accurate and fair. There is no spread, you will always get real-time prices, and every option is measured exactly with the price it is supposed to. Additionally, there are no hidden fees and no nasty surprise.
Finally, IQ Option also offers payouts that are easily high enough to make money with binary options. With payouts of up to 90 percent, you need to win about 55 percent to 60 percent of your trades to make money with IQ Option. Since you would win 50 percent of your trades by simply guessing which way the market will move, a little knowledge of technical analysis should help you to make money with IQ Option.