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IQ Option Compared to other brokers

Your capital may be at risk. This material is not investment advice.
Matthew O'Connor
Written by trading expert:Professional Day Trader
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Short resume:
  • Author of the book Options Trading for beginners
  • Worked in finance in 12 years
  • Got a MBA in Finance, BA, International Business Administration And Marketing
  • Built a solid record of achievements through constantly developing financial markets
  • Traded on the most frequently utilized stock exchanges: TSE, LSE,NASDAQ, NYSE, Euronex Actively managed a 6-9 million dollar portfolio
  • Developed new and innovative trading systems and implemented them during trading hours
Matthew O'Connor is the author on the bestseller Option Trading for Beginners
Option Trading for Beginners - Written by Matthew O'Connor

In this article, we will compare various brokers and find out where IQ Option’s services stand against the other popular services available to South African traders. Many popular binary options brokers have managed to make quite a name for themselves among traders, in and outside South Africa.

South African traders who want to compare brokers and find the one that is most suitable for them must definitely consider using IQ Option. This reference or guide will help in investigating whether or not IQ Option is right for you.

We have previously been having a section with a comparison of IQ Option with other trading brokers. Since then the Binary Options market has changed a lot, and the majority of these brokers has been closed or simply lost their trading license. There are only a handful of brokers left on the market that you can trust with your money.

Some of the precious brokers that we compared IQ Option to was AnyOption, BetOnFinance, Daweda Exchange, Finpari, Opteck and Stockpair. They are now closed, so there is no need to make a comparison to these.

Instead, we have made a comparison with a few other brokers that are left, and you can see the facts and thoughts below in the sections.

IQ Option’s Reputation

When you compare brokers, start with evaluating their reputations. IQ Option has been in the business of binary operations for nearly four years now.
Take a look at the numbers posted on the company’s website. These numbers offer a starting point to compare brokers that the South African traders can use. The numbers are given below:

  • More than 14 million trading accounts signed up in 2016. Going by the numbers, it has been a huge leap from the 950,000 accounts that were created in 2014.
  • Over 3 million deals are carried out on the portals daily.
  • IQ Option paid out over USD 5 million to their traders every month in 2016.
  • They have streamlined the processing of withdrawal requests from four business days (2014) to one business day.

IQ Option has built up an image as a simple yet sophisticated and speedy binary options broker among South African traders. The company often partners with some of the fastest cars in the world, like the Aston Martin. If you compare brokers, you’re likely to find only few other low-deposit binary trading brokers who can offer the kind of in-house analytics tools that IQ Option offers.

Award-winning Broker

Another area to compare brokers is their popularity. The awards that IQ Option has won in the few years of its existence speak volumes for its trading platform. These awards include:

  • Best Technology Application Award: awarded by the Web Marketing Association in 2016 for the IQ Option mobile app.
  • Best binary Options Broker and Trading Application at the IAIR Awards.
  • Most Innovative binary Option Broker: awarded at the Show FX World conference in Moscow.
  • Most Reliable binary Options Broker: awarded by MasterForex-V.
  • Best Trading Platform: won at the 2014 Forex Awards.

But there is a lot more to consider when a South African trader is choosing a broker to trust their money with. How does IQ Option fare against the competitors like Stockpair, 24option, Daweda Exchange, BetonFinance and others? Let’s find out.
But first, it is important to know how to compare brokers and what to look for in a broker?

How to Compare Brokers?

When you compare brokers, the general criteria you’re going to look at are probably the following:

  • Minimum deposits
  • Assets offered
  • Types of options
  • Minimum and maximum trades allowed
  • Payout percentage
  • Withdrawal and deposit times
  • Availability of demo accounts
  • Bonus
  • Quality of customer service

On all these counts, IQ Option offers features that are very attractive to traders.

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.

IQ Option compared to 24 Option

IQ option is popular among South African traders because it provides a practical learning experience through demo trading accounts. Potential binary options traders in South Africa require low deposits to sign up. Additionally, this platform also provides fast and affordable withdrawal services in South Africa. Traders can receive their profits via Visa/MasterCard, wire transfers, and e-wallet payments. It also provides in-depth investment educative literature through its hundreds of binary options trading articles.

24Option enjoys a massive following because all traders receive a personal binary manager upon successful registration. Traders have access to a rich educational centre filled with eBooks, videos, articles, and webinars which are meant to sharpen binary options trading skills. Traders enjoy zero costs for their first withdrawal. No hidden costs are levied on deposits, trades or subsequent cash withdrawals.

IQ Option compared to 24 Option: Who are 24Option?

24Options is an online based binary options trading platform founded in the year 2009 by Rodeler Limited. It is an investment company regulated by the Cyprian Securities & Exchange Commission. It offers quality trading experience and service innovation to binary options traders worldwide.

IQ Options is an online brokerage company established in the year 2012 by IQ Option Europe Ltd. Its main goal is offering a convenient and highly secure platform for online binary options trading.

All potential binary options traders in South Africa are eligible for all IQ Option membership packages. One must be over the age of 18 to make the required deposit.

IQ Option compared to 24 Option: Accessibility in South Africa
24Options is open to traders who meet their age restrictions and entry requirements.

IQ Option compared to 24 Option: Availability of Customer Care Support

South African traders can access IQ Option support team via email, phone calls, and live chat during business hours on weekdays. This is a free service available to free and paid membership. However, binary options traders who have the $3,000 VIP membership enjoy faster responses from customer support.

24Option traders enjoy customer service support all day long, throughout the week. All queries and issues are received via email, telephone, and live chat.

IQ Option compared to 24 Option: Availability of demo trading accounts

Budding binary options traders receive free demo trading accounts upon successful registration. Demo trading accounts enable South African traders to practice trading methods while building up courage, required to step up to real trading accounts. IQ Option does not top up virtual currency balances for demo trading accounts.

South African traders eyeing membership in 24Options receive their demo trading accounts only after paying the minimum requisite deposit.

IQ Option compared to 24 Option: Availability of Stock Exchange Markets

IQ Option offers trading options available for renowned international stock exchange markets. South African traders also have access to 70 assets most of which are unavailable locally.
24Option traders also have access to trading options and commodities available in international securities exchange markets.

IQ Option compared to 24 Option: Accessibility on Mobile devices

South African traders belonging to IQ Options can make trades, request for predictions and buyback options thanks to the user- friendly Smartphone app. All graphs are presented in a simple format, and technical jargon is broken down into layman’s terms.

24Options offers traders with a binary trading app available on Playstore and iTunes. This app is available to members who have paid the required deposit.

IQ Option compared to 24 Option: Winning rates

24Option offers a maximum payout of 88 percent for all binary options trades. High/Low options attract a return on investment rate ranging between 70-88 percent. Traders receive 70-77 percent payout rates for touch/no touch binary options.

IQ option offers a maximum payout rate of 91 percent.

 

Minimum deposit requirements

IQ option is popular with traders due to their pocket-friendly $10 minimum deposit requirement. As a trader, you can purchase options with as little as $1. This feature makes it user-friendly for novice traders who are wary of huge financial risks.

24Option requires all members to deposit $250 for successful registration. They accept a minimum of $1,000 for wire transfer deposits. Traders can participate in any trade with a minimum investment of $24.

IQ Option compared to 24 Option: IQ Option compared to 24 Option: Types of trading options available

IQ Option offers traders with the following types of trading options:

  • Commodity options (over 70 assets to choose from)
  • Pair options
  • High/Low options
  • Touch/No Touch options
  • Range Binaries
  • Index option
  • 24 Options provide the following trading options:
  • Commodity options
  • Pair options
  • High/Low options
  • Touch/No Touch options
  • Range Binaries
  • Index option

 

IQ Option compared to 24 Option: Extra benefits South African traders enjoy on IQ Options

1. Interactive social media platforms
IQ Option runs an active and engaging Facebook page dedicated to convenient interactions with traders. Liking their Facebook page will enable you to ask questions on trading and receive updates on upcoming trading tournaments. IQ Options’ FaceBook page is also an effective means of channelling any issues or queries that may arise. IQ Options is also available on Twitter and the customer care team will reply to your queries within one business day.

2. Free cash withdrawals for MasterCard/Credit card users

IQ Option levies no hidden fees whenever processing withdrawal requests for South African traders, who registered their accounts using Credit/Master Cards. The withdrawal process is secure from hackers thanks to the sophisticated security features integrated into IQ Options’ Smartphone app. In addition, traders in South Africa will enjoy the best foreign exchange rates for U.S dollar to South African Rand currency conversion.

3. Exciting cash prizes for winners
You can easily earn $500 dollars within 30 minutes by participating in the paid trading tournament. The $5 dollar registration fee is quite low, hence offering encourages high participation with varying trading expertise. Free trading tournaments have a $250 dollar cash prize and a similar expiration period with paid trading tournaments.

 

IQ Option compared to 24 Option: Conclusion

Prospective binary options traders in South Africa should purchase IQ Options’ membership, because of the low membership deposit requirement. The low investment deposit requirement is an incentive to trade binary options while learning at the same time. The availability of frequent trading tournaments is a great way for South African traders to meet, interact and share vital knowledge on IQ Options platform.

Do you have a friend in South Africa struggling to find a suitable system for binary options trading?

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.

IQ Option compared to Binarium

South African traders prefer using systems for binary options trading because they are cost-effective. These systems offer free detailed data analysis reports upon request in comparison to high consultation fees charged by traditional investment brokers. Systems for binary options trading offer members access to a wide array of highly sophisticated accurate prediction and data analysis tools. South African traders also get to trade on diverse international binary options that are unavailable in South Africa.

IQ Option vs Binarium

South African traders have embraced IQ option as their favourite system for binary options trading due to the following features.

  • South Africa is listed in IQ Option’s eligible member countries.
  • High online security features that prevent account hacking.
  • Simple user- friendly mobile app for convenient trading.
  • Access to a rich source of investment educational material.

IQ option is a binary brokerage company established in the year 2012 by IQ Option Europe Ltd. It exists to offer a convenient and highly secure platform for online binary options trading.

Binarium is an online gambling platform whose purpose is encouraging the average Joe’s participation in the financial market through, merging finance and betting markets. It was founded in 2016 and accepts membership from South Africa. To become a registered Binarium member, one must have attained 18 years of age, have access to a computer and reliable internet and the required minimum deposit.

IQ Option compared to Binarium: Let the comparison begin

Below is a detailed checklist which will be used as the criteria to comparing IQ Option to BentonFinance’s features and user-experience.

1. Accessibility to South Africa
All potential binary options traders in South Africa are eligible to join IQ option. You will not require IP masking software or sign up using fake credentials.
Binarium is open to all interested players in South Africa.

2. Customer Support availability
South African traders can access IQ Option’s Customer Support team with queries via email, live chat and telephone. To receive fast responses, members should contact the support team on business hours during weekdays.

Binarium customer support staff receives all queries via email and FaceBook direct messages. The Live Chat feature is exclusive to paid members only.

3. Availability of demo accounts
IQ Option offers free demo trading accounts where users can trade for as long as they wish. The only requirement is possessing adequate amounts of virtual currency. Demo account traders have access to real life prediction and data analysis online tools available on paid accounts.

Binarium offers a free demo betting account for first time members. The virtual currency balance is non-refillable hence users must rely on pure luck to maintain their demo betting account.

4. Stock Exchange markets accessible to members
IQ options offer South African traders opportunities to trade six types of binary options on major international stock exchange markets such as New York Securities Stock Exchange (N.Y.S.E), Japan Exchange Group and London Stock Exchange. They also offer hundreds of trading options from selected midsized companies.

Binarium offers just three types of finance market betting games. The stock pairs, indices and commodities are sourced from 30 listed companies.

5. Device accessibility
South African traders can trade simultaneously, activate autopilot trading and carry out several functions using the IQ Option’s Smartphone app. Traders can also download a tablet version on Playstore and iTunes for convenient trading at home, school or in the office. The free app is available to free and paid members.

Binarium online betting platform is HTML based since its simple coding enables it to be accessible on most mobile phones and tablets. However, Traders without Smartphones require specific mobile browsers in order to fully access the website

6. Winning rates on investments
IQ Option’s return on investment rates peaks at 91 percent on trading options. Factors such as length of expiry period and type of binary option influence the winning rate for each trade. Binarium uses betting odds to entice members’ participation in the games offered.

7. Types of trading options available
IQ option offers traders with the following types of trading options.

  • Commodity options
  • Pair options
  • High/Low options
  • Touch/No Touch options
  • Range Binaries
  • Index option

Binarium offers its players with just three betting games listed below

1. Stocks race – In this game, a player places a stake in three company stocks which he/she believes will be the best performers at the end of the trading day or week. A player can also place a bet on the three worst performers at the end of a specified trading period

2. Index game – The player wins by correctly predicting the movement of major international stock market indices such as American Nasdaq 100 and German DAX30. The expiry period is half a trading day.

3. Events game – In this game, the player wins by predicting how major global events e.g President’s Trump election will influence stock pairs or indices in the international stock exchange markets.

8. Availability of educative material
South African traders signed up to IQ Option have unlimited access to hundreds of informative articles for all levels. To enhance method formulation and implementation skills, traders in South Africa get to participate in frequently hosted trading competitions. South African traders who purchase the $3,000 dollar VIP package will receive exclusive investment advice from a personal consultant.

Binarium provides its members with an online platform called BetSchool. This online platform is a rich source for gambling tips and winning methods.

 

IQ Option compared to Binarium: Why trading options are better investments than stock games

1. Lower financial risks involved
The stock games on Binarium usually involve a cluster made up of three company stocks. As a trader, it is difficult to analyse and predict the performance of each company stock in a cluster, compared to predicting the performance of a single commodity ladder option.

2. Buyback options
South African traders can conveniently use the buyback feature on IQ Option to cancel investments that are likely to disappoint. This feature enables the trader to avoid incurring losses so long as the investments have valid expiry periods. Players on Binarium cannot reverse their bets once they’ve deposited their stakes.

3. Higher winning rates
On average, trading options on IQ Options offer a 60-91 percent return on investments. Most stock games offer winning rates that are much lower in comparison to trading options.

 

IQ Option compared to Binarium:  Conclusion

IQ option is best suited for binary options traders in South Africa thanks to its open membership and high return on investment rates. Trading binary options are rational compared to actual gambling on stocks which poses high financial risks. Not to mention that it’s an unreliable way of generating consistent passive income.

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.

IQ Option compared to Binary.com

As a South African trader, you may ask which the best trading platform is. If you live in South Africa, then you should be aware that you have your binary options platform, namely IQ Option. IQ Option is designed to help South African traders to invest their money into a great trading website. We know that around the world there are many trading platforms, but if you read this short article, you will definitely find out the greatest facilities of IQ Option compared to Binary.com.

IQ Option compared to Binary.com: IQ Option trading platform

IQ Option is one of the biggest trading platforms in the world. It is based in South Africa and it started as an option for South African traders that were interested in investing their money in trading platforms. Because South African traders were looking to have the best experience while they were risking their money, IQ Option team had to come up with the best trading platform for its clients.

IQ Option is a trading platform that has been online since 2013, evolving and becoming one of the best trading websites. If you are a South African trader, then you may be proud to have such a good trading platform.

In order to be able to trade on IQ Option website, you have to upload a minimum deposit of $10, while your minimum investment should reach $1. On the other hand, the maximum amount that you are allowed to invest is equal to $1000. Maximum returns on IQ Option are 91%. If you decide to trade with the South African traders’ platform, then you should know that the currencies that you can use here are USD, EUR, CAD, GBP, AUD, NZD, RUB, and Yuan.

The main pros of IQ Option have to do with the variety of trading options, the user-friendly interface, one of the smallest investment amounts of money on the trading market, quite effective learning tools, and great returns.

A disadvantage of IQ Option trading platform is that traders from countries like the United States of America, Canada, Iran, Israel, Sudan or Syria are not accepted on this trading website.

If you would like to trade your money with the South African trading platform, you should know that you may use mobile applications for IQ Option on both Android and iOS.

IQ Option compared to Binary.com: Binary.com trading platform

While IQ Option has been online since 2013, Binary.com has many years of experience, being online since 1999. Binary.com trading website requires a minimum deposit of $5, with a minimum investment of $1, while the maximum investment amount is equal to $50,000. Currencies that are allowed on Binary.com include USD, EUR, GBP, and AUD. Binary.com trading platform is appreciated for its proprietary interface, the large variety of withdrawal methods, and the possibility to have a demo account if you are a new user.

On the other hand, there are also some drawbacks, and the most important one is that countries, like the United States of America, Hong Kong, and Japan, are not allowed to trade on this trading platform. Another disadvantage is that on Binary.com website, your withdrawal request may take from 3 days up to 5 days.

Similarly, with IQ Option trading platform, Binary.com provides you with the possibility to trade even using your mobile phone.

IQ Option compared to Binary.com: Comparison Overview

IQ Option compared to Binary.com is placed on the top of binary options traders, being in the 1st place, while Binary.com is ranked lower, based on reviews. In 2016, IQ Option won the 7BO Award 2016 winner – Best Broker, an award that proves the high quality of this South African trading platform.

As you can see from above, IQ Option compared to Binary.com has many more pros and facilities that you can enjoy if you become a client of this great trading platform from South Africa. Now South African traders have all the reasons to invest their money into a local trading platform, which is among the best in the world.

The South African traders should know that if they choose IQ Option as a trading platform, they will have the chance to learn some new methods that may help them to earn more money, methods, such as “The Three Black Crows Method” and ‘The Rainbow Method”.

IQ Option compared to Binary.com provides access to some great tournaments. This facility is unique among the binary options trading platforms.

We are confident that after you have read this short comparison between IQ Option and Binary.com, two important trading platforms in binary options trading, you will choose to become a client of IQ Option. Excellent reviews and the wide range of facilities that you can use with IQ Option should be the best reasons for which you should choose IQ Option instead of any other binary options trading platform.

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.
NOTE: This article is not an investment advice. Any references to historical price movements or levels is informational and based on external analysis and we do not warranty that any such movements or levels are likely to reoccur in the future. In accordance with European Securities and Markets Authority’s (ESMA) requirements, binary and digital options trading is only available to clients categorized as professional clients.
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