AskOption Binary Options Broker Review – Find out all you need to know

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

Binary Options FAQ – Binary Options Frequently Asked Questions

Welcome to my binary Options FAQ section! You still got questions about binary options trading and how to choose the best binary options broker for your needs? Keep on reading to find the frequently asked questions about binary options and how to trade them!

Binary Options Faq´s Answered

What are binary options?

Binary Options are a fixed return financial trading instrument limited to two possible outcomes, In the Money (Won option) or Out of the Money (Lost Option). You can read a detailed explanation here!

When can you trade binary options?

This depends on the asset you are trading, there are currency pairs, stocks, indices and commodities you can trade as binary options. Normally you can trade while the markets are open, this depends on the form of asset you are trading!

Is it legal in my country of residence to trade binary options?

This depends mainly on your broker. In most countries it’s legal, but many brokers don´t accept trades from all countries! If you live in the USA for example, it becomes hard to find a broker accepting clients from the US!

Do I need any software to trade binary options?

Normally not really, but I highly recommend a real-time chart software like the Metatrader 4 or 5 for example! Depending on your Broker its also possible to download a trading desktop application or mobile app, so for example IQ Option!

Where to trade binary options?

This depends on the country you are living on the one hand and what you want to trade exactly. Other points to consider are the amount you want to invest and what assets you want to trade mainly! You can check out my broker tests to find the best binary options broker for your needs!

How much do I need to invest to trade binary options?

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

This depends mainly on your broker and your money management. Never trade with more than 5% of your overall account balance in a single trade. So if you plan to invest 200 USD into binary Options, you need a broker with a minimum trade amount not higher than 10 USD (200USD * 5% = 10USD)!

Can I make money trading binary options?

Basically yes, but not without the requirements needed to use binary options! Its needed to control your emotions as well as proper money management and knowledge about technical analysis and trading strategies/pattern.

How to predict market movements in order to trade binary options?

There are 1000s of methods to analyze and predict market movements, so-called trading patterns. The main problem is not to find the best, but to learn when to use wich trading pattern for best results! Anyway, you will never win all your trades, loses are a part of trading!

How to choose the right expiry for your trading pattern?

This depends on many factors like the trading pattern, the time frame and the kind of asset you want to trade! Ensure to test new pattern first inside a demo account (Check out my IQ Option review to get one) for a few days at least! After some time you will get some kind of feeling to choose the right expiry!

What does “In The Money (ITM) and Out of the Money (OTM) mean?

In the Money means that the binary options expire in your odds. If you trade a call option, the price needs to rise till the expiration, if you trade a put option the price needs to decrease till the end of the expiry time – In the case, an option ends in the money, you get back your investment as well as the additional profit! Out of the Money means the direct opposite, the option expired against your prediction, and you lost your investment! Read more about ITM and OTM here!

How much can you win if your trade expires “In The Money”?

This depends on your broker, but also on the asset you are trading as well as the expiration time you have chosen! You will know how much you can potentially earn before you enter the trade!

Are there good books for binary options?

There are only a few books about binary options trading, but many books about technical analysis and how to analyze the financial markets! Ensure to check back on this website in the near future for book reviews and more…..

DO I need to invest in order to try out the binary options principle?

No, you can open a free demo account at IQ Option for example in order to test binary options without risking any money – of course, you won´t make money this way!

I am new to trading and would like to start. Can you give me some advice?

Sure, just browse this website and learn more about the basics of binary options trading! Do not miss to search on youtube and Google for additional information about binary options trading!

What is the best “binary options trading pattern/strategy”?

There are too many factors define the best trading pattern for binary options! One reason is that the majority of a trading pattern is designed for a specific market situation. get this wrong and you will lose your money in most cases!

I’d like to trade binary options. Do I have to be 18 years old?

Yes, all regulated and the most un-regulated broker require a trader to be 18 years old or older!

How much can I earn trading binary options?

This depends on various factors! In the case you are an experienced trader it mainly depends on your performance, how much trades are you winning out of 100 on average? The other important aspect is your capital, the more you can invest in one trade, the higher your potential win in the case the option expires in the money!

Shall I lend money to invest in binary options?

No NEVER! Only invest the amount of money you can afford to lose! Even experienced Traders can lose their money!

Questions not answered in my binary options FAQ Section?

No problem! Just use the comment form on this binary options faq page and ask whatever you want related to binary option or trading in general! I will do my best to answer your questions as soon as possible!

Binary Option Broker Reviews

Hello and welcome here on my blog about binary options trading! Keep on reading for my binary options broker reviews and detailed information about binary trading strategies, basics & tools!

My Name is Ben and I´m trading since the end of 2009 binary options and forex! After many setbacks, I finally found a few good pieces of information helping me to succeed with binary options trading!

Here on this site, I will share my binary options reviews and experiences, as well as my trading strategies, templates, and many tips and tricks about binary trading!

If you need any assistance, ensure to contact me through Facebook or write a comment here on this site, I will do my best to answer your questions ASAP.

Learn To Trade Binary Options

Before you start trading binary options, ensure to browse this site and other sites like my Youtube Channel in order to get the needed knowledge first! Ensure to follow the steps below to start binary options trading the right way :

  1. Get the Knowledge — Ensure to first learn about binary options, chart analysis, trading strategies and so on before you start trading! You can find good information here on this site, inside my Youtube Channel, or on my Facebook Page by clicking here for example!
  2. Get a Demo account — Never start trading binary options or anything else with real money! Ensure to get a demo account (You can trade inside a Demo account at Pocket Option!)
  3. Start With Small Position Sizes — After trading some time inside a demo account (I´m talking about a few weeks, at least 1-2), you can start with small positions inside a real account! Always start with the lowest trade amount possible. Trading with real money is always different from trading with fake money!
  4. After you see that it is working for you with real money, you can start to slowly increase your position size till you reach your money management amount (Trade never more than 5% of your overall capital in a single position)!
  5. Check out my Binary Options Signals Section to learn more about trading tools for binary options!
  6. Join my Facebook Page as well as my Group on Telegram for more information!

Binary Options Broker Reviews

Here are the top binary options broker you can choose from, depending on your country of residence and the features you are looking for! Watch this video (Switch on subtitles) learn more about my favorite broker for binary options!

Attention: All broker here were tested by me in the past, read my full review to find out more about the details!

Binary Options Broker #1 — Pocket Option

(US Traders are Accepted) — This is another interesting broker I´m using daily. Pocket Option is easy to use and many cool features like tournaments, pending positions, Forex trading and much more. Pocket Option is the only binary options broker I know providing more than 40 cryptocurrency assets to trade, as well as many currency pairs, stocks and much more.

Pocket Option also runs interesting Bonus and Reward offers you may want to take a look at! Pocket Option (read my Review) offers by far the highest returns in the industry (Up to 98% for an In the Money position)! Pocket Option is great if you want to trade with low amounts and short-term binary options! Pocket Option is regulated by the FMRRC !

Attention: Use this link and start trading with pocket Option to get a 50% cashback paid from my Commission (50% of my commission will be paid to your account) … Click here now and sign up! (Make sure to delete your browser cookies first)!

(Trading Involves Risk!)

Binary Options Broker #2 — Finmax

(Does Not Accept Trader from US Countries) — Finmax is my first choice when it comes to binary options and CFD trading (As I´m a European trader). The user interface is working well and fast. Finmax offers some nice charts including some useful tools to analyze the market and make good trade decisions.

Many other binary options broker reviews about Finmax are also showing the popularity and overall quality!

Finmax is Regulated by the FMRRC! You can watch the Video below for a Finmax Review from me :

IQ option Broker Review 2020

IQ Option is an EU-regulated, award winning broker that offers trading in a large variety of assets including options and CFDs in forex, cryptos, stocks and commodities with a minimum deposit of only $10. They are famous for their $10,000 free demo account, the innovative IQ Option platform and their large variety of both popular and more exotic assets.
IQ Option is our top awarded broker, so we would highly recommend reading this full review and finding out all you need to know about one of the most recognized and praised platform worldwide.

⛔️ �������� IQ Option is not available for traders in the U.S. If you are trading from the U.S, we would recommend checking out NADEX review – the best binary options provider for U.S. traders.⛔️��������

***Binary options are prohibited in the European Economic Area. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This material is not investment advice. ***

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IQ Option Account Features

At IQ Option, there are three trading accounts available: the real account, the VIP account and the free demo account. The real account is a regular trading account, the VIP account is for professional clients and the demo account is a free practice account where you can test the IQ Option platform and practice trading entirely risk-free.

You can check out all three options below.

Is IQ Option Fake or Not?

Free Demo Account

Answer : IQ is a real trading platform offering demo accounts with fake or virtual funds for beginners. IQ Option offers all fundamentals of binary trading. You can signup for a free trading demo account where you can trade with fake money. Do not confuse this with being a “fake broker” or a scam broker. Demo trading is basically real time trading on the actual software that you will make real trades from, but in a mock setting with fake money or called virtual funds. IQ Option offers traders $10,000 of virtual funds to use in their demo account.

There is no risk of losing real money when you are demo trading because the account is loaded up with virtual cash. Just like with a real account, an IQ Option binary options demo account allows you to see what the software is like, and your trades will be at the mercy of the market. If you have an incorrect guess, your virtual money is subtracted from your account. If you’re right, the return will be added to your account.

A demo account is one of the best ways to get a feel for whether or not the IQ Option platform is right for you. Does it mimic real trading perfectly? No. There are going to be psychological differences between demo trading and real trading. IQ Option cannot replicate these perfectly, nor can anyone else. Losing $1,000 in fake money is very different from losing $1,000 in real money. However, demo trading can teach you how to use the software well and give you time to practice so that you are less likely to lose real money when you begin. We strongly recommend you do this before trading with your real money.

Real Trading Account

IQ Option has one of the lowest minimum deposit amounts in the market to open a real trading account. The minimum deposit to begin trading at IQ Option is only $10. The minimum trade amount is $1 for binary options and digital options, and $20 for forex and CFDs. If you are trading from South Africa you can try to get higher returns with touch no touch binary options, but keep in mind it carry great risks and potential loss of money.

This creates a low bar entry for this broker, and it is also a good way to minimize your risk if you are new to trading. If you are still unsure about the broker or you are just hesitant to try trading with real money, this is one of the best brokers to start with.

VIP Trading Account

The IQ Option VIP account is targeted towards more professional traders, which is why the minimum deposit amount is much higher. The minimum deposit to open a VIP account with IQ Option is $3,000. This option is only possible when you are done with you basic binary options training.

These are accounts catered to trading experts with a higher profitability rate, a personal VIP account manager and free participation in their trading tournaments.

We would not recommend opening a VIP account with any broker if you are a beginner in trading.

IQ Option Trading Software

Other than a low entry barrier, IQ Option has a strong trading platform to encourage traders to use their site. They have a proprietary trading platform, and this comes with many special features, which are updated regularly.

Knowing how to use the IQ Option platform is a must if you want to be successful with this broker. Here, we’ll go over what you need to do to familiarize yourself with the IQ Option trading platform and give yourself the best chance possible of being profitable if you decide that you want to trade with IQ Option.

How Do I Use the IQ Option Platform?

The IQ Option trading platform is very simple. From their trading page, you are given a chart of the asset you are focused on, and then a place to edit trade amounts.

For example, if you want to make a $10 trade on the EUR/USD, you can later edit the amount if you wish from the same screen. Trade directions and expiries can also be dictated from this screen. If you want to make a 15-minute put option for $10, then change your trade to a 60-minute call option for $100 once that expiries, there’s no need to click on multiple screens to get this. This streamlined access is great for most people.

You can also look at different charts here. These are fully customizable, allowing you to change timeframes, and even put indicators on the charts themselves. This is a great way to hone your technical analysis skills and keep improving.

If you don’t have experience with this yet, this is a great way to slowly gain expertise. They offer Bollinger Bands, Alligators, MACD, and Parabolic SAR, just to name a few. We recommend the candlestick chart option.

They also have a trading client that you can download, trading right from your desktop if you wish. Most traders use their web-based browser, but if this is something that you want to avoid, there is a download available for you. Both work with equal ease.

Mobile Trading

IQ Option has a standalone app, both for Android and iPhone devices. On Android devices, you can find the download for their trading app on Google Play. For iOS devices, you can download the app from the iTunes store.

This is another choice that traders on the go have if they do not want to sacrifice trading opportunities just because of a busy schedule. Our IQ Option review team found that mobile trading can go either way when it comes to helpfulness. If you are going to use your phone or tablet to trade, we recommend having a strong method of analysis or a signals service on your side before you execute your first mobile trade.

500+ Trading Assets

As far as assets go, IQ Option offers over 500 different assets, ranging from classic options to CFDs in forex, cryptos and stocks. The broker recently expanded their stock collection by adding a variety of cannabis stock CFDs.

You can truly find anything you are looking for on the IQ Option platform and special features that will help you trade.

IQ Option Price Alerts

IQ Option recently added price alerts to their trading platform, which are created to make trading even easier. Price alerts automatically notify traders when an asset has reached a specific price level.

You create the alert yourself, based on the price you want to BUY or SELL. All you need to do is select an asset, click “create alert” and set the price you want to be notified for. Read more about itm and otm meaning finance to learn the basics.

IQ Option Robot

The IQ Option robot is no longer available.

If you are looking for a good robot to help you with your trades, check out our binary options robot section for the best automated trading options.

Education

IQ Option recognizes that binary options trading education is important, and we applaud them for that. They have a strong set of resources for their traders, including free webinars, and plenty of reading material. This ranges from basic tutorials on how to make a trade, to in-depth binary trading strategies and risk management.

We firmly believe that all traders need to continuously be educating themselves if they are going to have a chance of being successful, and we recommend you take advantage of the tools that IQ Option provides for you. This will be the best way to take your trading from where you are now, to the next level. Couple this with real experience, and you are on your way to being successful.

Additionally, we also urge you to read financial news on a daily basis. You might have a favorite news source already, and if you don’t you should find a few. Having a streaming news service subscription, so that breaking news that will have an impact on your trades is sent to you automatically, will be your best bet. These services tend to have a cost, but they are worth taking advantage of as news events can have an immediate impact on prices.

IQ Option does a good job of providing their traders with the news, but this is often available a day after the fact. While helpful, it isn’t the best at keeping track of real time changes in the world.

IQ Option Support Information

The IQ Option customer support team is available 24/7 via email ( [email protected] ), live chat (from trading platform), phone or the contact form on their website.

You can contact IQ Option through the following numbers:

English:

+44 20 8068 0760
+44 80 0069 8644

Portuguese:

+351 882 880 034 (Toll-free)
+351 308 807 766 (National)

Spanish:

+34 90 086 16 12 (Toll-free)
+34 91 123 87 48 (Madrid toll rate)

IQ Option Payment Methods

IQ Option is a reputable broker, and they are regulated by one of the most heavily respected regulatory bodies in the online trading business. But even with this distinction, traders often have concerns about the wellbeing of their money. This is legitimate; there are a lot of scammers out there, and nobody wants to fall for one of these and lose their money. Here, we will go over the deposit and withdrawal process and let you know what you can do to make sure that this process goes as smoothly as possible for you.

IQ Option Deposits

You can make a deposit at IQ Option with a credit card (Visa, MasterCard, Maestro) a wire transfer, or a number of different e-wallets, like Skrill, Neteller and WebMoney. Remember that if you use a credit card, you can only withdraw what you deposited back onto that card later.

IQ Option Withdrawals

When you’re ready to cash out your account or take a partial withdrawal from it, you will need to make sure that a few basic requirements are fulfilled first.

According to EU financial regulations, you need to prove your identity and your address of residence before money can be withdrawn from your account. The best way to do this is to scan and submit a copy of a government ID (like a driver’s license or a passport) and a copy of a utility bill (like your electricity or internet bill).

If you are using a credit card, you will need to scan the front and back of the card and send it in. You should cover up all but the last four digits of the card number and the CVV on the back.

IQ Option doesn’t need this information as they encrypt their data, and it will help prevent any potential for fraud. Binary options already have a good deal of risk associated with them, you don’t want to put yourself at even greater jeopardy of losing money.

These rules might seem like needless hoops to jump through, but IQ Option follows them in their effort to prevent money laundering and other illegal activities. So, while they might be a hassle, they are for the general protection of everyone.

IQ Option Withdrawals Issues and Questions

You can make a withdrawal by Visa, MasterCard, or Maestro, as far as credit cards go. You can also use a wire transfer or an e-wallet. The e-wallets that IQ Option currently is compatible with includes Skrill, Neteller and WebMoney.

The primary way to make a withdrawal from IQ Option is by the same method that you made your initial deposit with. You should spend some time thinking about what’s going to be the most convenient way for you to make a withdrawal when you’re making your deposit so that you can expedite this process a little bit and avoid the potential for delays here.

For example, making a deposit with a disposable credit card might be problematic if you want to withdraw your IQ Option funds back to that card later.

Wire transfers are the most reliable and safest way to send and receive large amounts of money to and from your bank account, but there are some concerns here. Your bank may charge you for wire transfers, for example. No one wants to have to pay these fees, but if the safe transfer of your money is important to you, then this is worth looking into.

What is the minimum withdrawal amount?

There is no minimum amount that you can withdraw from your IQ Option account.

What is the maximum withdrawal amount?

The maximum that you can withdraw from your IQ Option account is $1,000,000. You can make multiple withdrawal requests over the course of time if you need to, but this is the maximum amount per day that you can withdraw. Also know that depending on your deposit method, you may not be able to withdraw as much as you want all at once. For example, if you made a deposit to your account with a credit card for $500, you would not be allowed to withdraw more than $500 back to that card. Once your card withdrawal request is complete, you can make another request for the rest of your balance, but it would need to be processed as a wire transfer or as an e-wallet transaction.

How Long Will My IQ Option Withdrawal Request Take?

Once you make a request for a withdrawal, the time it takes before it is processed will vary depending on the type of your account. If you have a VIP account, your request will be processed within 24 hours. If you have a normal cash account, the request will be between one and three business days.

Once things are completed on IQ Option’s end of business, it may be another few days before the money shows up in your account, depending on how fast your bank works. Typically, it will be no more than 72 hours after IQ Option has completed your request, but banks do vary here.

How Much Do IQ Option Withdrawals Cost?

Currently, withdrawals from IQ Option are free of charge. This does not mean that other institutions will not charge you, though. For example, your bank will likely have a fee for you if you use a wire transfer. IQ Option attempts to do their part to keep your costs down, though.

IQ Option is one of the best binary options brokers when it comes to choices for banking for a successful binary options payout. A lot of the issues that traders have with their broker has to do with financial transactions, but IQ Option is very simple to work with. Their rules are clearly stated on their site, and they are all compliant with regulations. Credit cards and e-wallets are the quickest way to get your money returned to you. If you have a VIP account, this process will be even quicker.

If you’re going to create an account with IQ Option and you have further concerns or questions about deposits and withdrawals, we recommend getting in touch with their customer service. They have a quick turnaround on emails, but a phone call may be more helpful if you are looking to get this resolved quickly. IQ Option is a reputable broker, and if you are familiar with their regulations for withdrawals before you get started, your dealings with them will be much smoother.

CAN I TRUST IQ OPTION?

When you are selecting a new broker, looking at what others who have used a site before you have said is an easy way to get a feel for the site. If you are looking at IQ Option, you probably want to know whether this site has good reviews or negative reviews.

Are people happy using this broker, or do they have a bad experience, warning others to stay away from it? Is this a broker that does what they advertise themselves as doing? Answering these questions confidently before you make a deposit is going to be a key part of your success as a trader.

Is IQ Option Regulated?

IQ Option is regulated with a license in the EU, and since they have obtained this regulation, we haven’t been able to find any major negative reviews of the broker. It’s always a good idea to start with whether a broker is regulated or not when you begin looking at them. Stay away from brokers on our binary options scams blacklist.

Are There IQ Option Negative Reviews?

Negative reviews of IQ Option do exist, but most are focused on trader error. Online trading is tough, and people do lose money, whether they trade at IQ Option or somewhere else. You will notice if you read the 24option review or study the binary.com app reviews online, that there is always negative reviews as it is impossible to make everyone happy when a majority of traders are losing money. Not because they have problems with olymp trade withdrawal or other brokers but because it is tough and not for everyone.

Nobody likes to lose money, and it’s not surprising that people leave negative reviews when they do. The question that you need to ask yourself is whether this is the broker’s fault or the trader’s.

Another thing to be aware of is their withdrawal policy. We did find some complaints when it came to the withdrawal policy as people were surprised that they couldn’t withdraw more than what they had deposited with a credit card. For example, if you made an initial deposit of $1,000 with a Visa, and then doubled your account size to $2,000, you can only withdraw $1,000 of that back to your card. The rest would need to be withdrawn via a wire transfer.

This policy is standard practice within the binary options world and posted on their website. It’s important that you be familiar with the banking policies of the site you use before you create an account.

Finally, there were a handful of complaints about customers being locked out of their accounts. IQ Option is a regulated company, which means they need to follow the safety and anti-fraud rules and laws that exist.

Traders outside of the European Union, those with some sort of suspicious activity on their account, and those that do not verify their identities adequately will have issues here. Again, these policies shouldn’t be a surprise as they are a standard practice and clearly denoted.

How Do I Avoid These Issues?

The best way for you to avoid issues with IQ Option or any other reputable broker is to know the rules and follow them. Familiarize yourself with the best way to conduct financial transactions with the site before you ever make your first deposit.

Credit card transactions are easy and quick, but they are not always the best method for everyone. Also, be sure to take the appropriate steps quickly to confirm your account and identity. Provide the scanned copies of your government issued ID card and utility bill long before you want to make your first withdrawal. If you did use a credit card, be sure to scan a copy of this, blotting out the CVV and all but the last four digits of the card, and send it in. Getting these out of the way early will avoid issues with withdrawals later.

Conclusion: IQ Option is a Trustworthy Company

Are there complaints about IQ Option out there? Yes. Are they well founded complaints? For the most part, no. Most of the issues that people have with this broker are not actually with the broker itself, but with their own mistakes. Most people lose money when they jump right in to binary options trading, and they lose money as a result of this. We don’t want you to be among those people. Familiarize yourself with the broker before you get started, testing out the IQ Option demo account and looking over their banking policies.

Regulated brokers need to follow certain rules when it comes to finances, and IQ Option is no different here. If you know what the rules are, there’s zero reason that you will be upset about them when you are asked to follow them.

Our IQ Option review concludes that this is a great broker with a lot to offer traders, especially those that are just starting out or do not have advanced strategy skills yet in place. Other, more experienced, traders can also benefit from using IQ Option, but there is a definite appeal for new traders or those without a lot of capital here.

Whether or not this broker is right for you is up to you. CFD and binary options trading does have a lot of risk that is associated with it, and there’s a chance that you will lose money even when you use all of the proper risk management strategies that you should be using.

We encourage all traders to use demo accounts whenever they start using a new broker, and IQ Option does have a free demo trading service that you can use. This is a good way to get practice using the IQ Option platform in real time before you ever risk any of your own money. This certainly doesn’t guarantee that you will earn money trading, but it does help to reduce your chances of making a simple mistake when you are using the platform.

***Binary options are prohibited in the European Economic Area. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. This material is not investment advice. ***

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Top Binary Options Broker 2020!
    Perfect For Beginners and Middle-Leveled Traders!
    Free Education How To Trade!
    Free Demo Account!
    Big Sign-up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!

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Pocket Option