The IQoption trading platform is one of the simplest to use. It is extremely fun and just overflows with features. If you need a good indicator, oscillator or just want to have a stream of latest news and chats from your peers – it’s all there.
The platform is run from the browser, we tested it on a Macbook Pro 13” system and it worked great in Safari browser. IQoption also offers a version of the trading platform as a mobile app on iOS and Android.
The platform is dominated by a huge chart. You can always use the multi-chart view which enables the trader to choose between more than 20 chart grids, depending on how many assets you are keeping track of at the same time.
IQ option Chart analysis tools
The platform has graphical charting tools like trend-lines and Fibonacci tools. Also included is a long list of indicators, such as the RSI, CCI, Alligator and others.
Placing a trade on IQoption platform
Placing a trade is – you guessed it – really simple. On the right side of the chart is the trading menu. There one needs to enter the amount to trade and other settings.
In case one trades CFDs or forex, the multiplier is what is also referred to as leverage – up to 1:30 currently for Forex.
If cryptocurrencies are being traded, there is no multiplier setting, while in case of options trading, the menu changes in a way that the trader also needs to set the expiration time and cannot use leverage.
The minimum amount required to open a forex and CFD position is only $20.
Part of being a successful trader is knowing when to buy or sell an asset. IQ Option makes this easier by automatically notifying you when an asset has reached your desired price. All you need to do is set up price alerts.
- Select an asset
- Click “Create alert”
- Set the price you want to be notified for
IQoption platform special features
Cool feature of the platform is the chat function – traders can join various chat rooms and talk about strategy and other topics related or unrelated to the underlying asset, which is how most of the groups are formed. You cannot chat if you are demo customer but you can read what others are saying.
Market Analysis menu offers a news stream following the most popular assets from relevant news sources. It also includes a forex calendar, with important reports tracked as they are scheduled and published. IQoption also added the Cryptocurrency calendar, which tracks the releases of the most important reports and news concerning the cryptocurrency market.
We used the platform on May 11th 14:43h GMT+2 time and measured EURUSD spread of about 2,5 pips which is in line with other competitors out there. Since the spreads are variable, we cannot claim these are the numbers all traders will see for EURUSD.
As we were writing the IQoption review, CFDs were offered on over 90 assets, Forex trading based on 29 currency pairs and access was provided to the cryptocurrency market with 13 cryptocurrencies, which is probably the one of the best selections out there.
Cryptocurrencies that can be traded are Bitcoin, Bitcoin Cash, Bitcoin Gold, Dash, EOS, Ethereum Classic, Ethereum, Litecoin, OmiseGo, Qtum, TRON, Ripple and ZCash.
You can also trade cannabis stocks on the IQ Option platform, that have become increasingly popular this year. Examples of marijuana stocks available at IQ Option are Aurora Cannabis Inc, Canopy Growth Corp, Cronos Group Inc, GW Pharmaceuticals – Adr, Tilray Inc-Class 2 Common, Anheuser-Busch Inbev-Spn Adr, Etfmg Alternative Harvest and many more.