The question of whether the broker IQ Option is a scam or not keeps popping up in forums on the internet. The question can only be answered if enough information has been collected and relevant experience has been made with the broker. The fear of fraud is widespread on the Internet and especially when – as is usual with binary options – a lot of money is being moved. The following IQ Option Singapore review is to examine whether it is a bad or good for Singapore traders.
Our conclusion in advance: If you are looking for a solid broker in Singapore, then IQ Option is the right choice for you.
Best Singaporean Brokers
Important facts about IQ Option
- Trading allowed from only $1
- Low minimum deposit of only $10
- Free demo account with no restrictions
- Up to 91% return on a successful trade
- Wide range of trading offers
- 4 option types with the many base values
- Mature trading platform for PC & Mobile
- Reliable customer service
IQ Option trading offers
More than 300 base values can be traded with binary options on the trading platform. Currency pairs make up the largest part of them, namely 33. These are the most important world currencies. American, Canadian, Australian and New Zealand dollars are offered.
Regulations and Licensing
A reputable broker is controlled by a government regulator. If that’s the case, then that’s a strong indication that the broker is reputable. IQ Option is based in Cyprus. This is not unusual as many institutes operate from the island. This is the abbreviation of Cyprus Securities and Exchange Commission, the state financial regulator.
|address||Hinds Building, Kingstown, St. Vincent and Grenadines|
|Live chat||Available to customers|
|Call-back||Available for VIP customers|
IQ Opion Minimum Deposit
One point that many investors get nervous about is the minimum deposit. If the binary options broker is not reputable and requires a minimum deposit of a thousand or more dollars, then the money is lost. IQ Option can clearly score here. The minimum deposit for the real trading account is only 10 dollars (around 14 SGD).
Easy account opening
Even those who have little experience with the Internet can register with IQ Option without any problems. You must be at least 18 years old and have an email address. The interested party now enters their name and e-mail address and thinks of a password.
IQ Option money transfer
You must deposit funds into your account to get your account activated. The best way to deposit is with a Visa/Mastercard. Skrill, Neteller and Webmoney are very popular. Transfers using a checking account and PayPal are not offered. A bank account can be used for the payment. In principle, the same method applies to the payout as to the deposit.
If you deposit with a credit card, you can then make withdrawals using the same method. Only one free withdrawal can be made per month, starting from the second withdrawal the commission is 2% of the withdrawal amount, but not less than $1 and not more than $30. For higher amounts, the transfer is made to a bank account. There are no fees for so-called e-wallets. In order to save fees, it makes sense to keep accurate accounts of the deposits and withdrawals.
IQ Option trading platform
Here, too, the test reveals some positive features. Most binary options brokers use Meta Trader 4. This platform is available for free on the Internet and is simply used by the brokers for their own purposes. IQ Option does not use this platform, the broker has developed its own. Since this is precisely tailored to the broker, it can be traded very well.
This platform can be accessed via the internet, making it easy to trade while on the go. Although the platform is very basic, there are a number of video tutorials that explain the platform in detail. Of course, it can also be traded with the smartphone or tablet mobile via apps. These are available for the Android and iOS operating systems.
Conclusion: IQ Option is one of the best brokers in Singapore
From the previous review it should have become clear that the broker IQ Option is reputable and it is a safe provider. Their trading offer is extensive and there is the possibility to hedge it so that the loss is limited.
Customers who want to experiment a little first have the option of opening a demo account. When transferring money, the provider plays it safe. IQ Option has even launched its own trading platform. IQ Option and scams certainly do not belong together. Customers who hold such opinions on the Internet usually have had bad experiences with binary options trading.
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose
No reviews yet