Those who have been exploring the forex trading industry for a while have certainly come across IQ option. It is currently one of the biggest names in the industry. IQ option is a forex broker that has broken bones by being subscribed to forex broker. With over 20 million active traders on its platforms, IQ Option has become a trendsetter on the scene.
Many forex Traders are flocking on to the IQ option trading platforms to get an experience of what it’s like to trade on a forex broker that puts the needs of individual Traders at the forefront. In the sections below, we are going to explore how IQ option makes it possible for its Traders to seamlessly transact with it, and how its minimum deposits are a good thing for beginner traders.
What is the minimum deposit in IQ Option? How can I make money through IQ option? We’ve become accustomed to being asked these and many more questions about IQ Option. While the discussion about IQ option is a long one, we are going to do well on its minimum deposits and deposit and withdrawal methods.
Note that being able to transact seamlessly with a broker can have a significant effect on how you can trade and ultimately how much profit you can make. Take for instance you’ve noted a trading opportunity on the market, but you do not have enough trading balance on your account to take advantage of it. That opportunity will go to waste if you do not have a method through which you can deposit funds into your account immediately.
We’ll begin with IQ option minimum deposits
IQ option minimum deposit
Each minimum deposit is always matched to a particular trading account. IQ option has two trading accounts, but the main one is known as the standard account. The iq option minimum deposit forex is $10. That’s for the standard account.
While we are cognizant of the fact that there are countries in which ten dollars is not even a day’s wage, we are quite comfortable saying that $10 is an amount that many serious forex Traders can afford. The IQ option minimum deposit 2019 is arguably the lowest in the industry, and it makes it easy for novice traders to get started without taking too many risks.
The other account on IQ option is known as the VIP account. There isn’t much difference between the VIP account and the standard account. In essence, the VIP account is designed as a reward for Traders who have been trading successfully and a lawyer to IQ option.
Of course, there are perks of being on the VIP account. You will get special privileges such as a personalized account manager and many more. The VIP account requires a minimum deposit of $1900. That is quite a significant amount and is usually deposited by seasoned Traders who are getting onto the platform to chase profits.
Now let’s talk about the transaction methods that are available on IQ option.
Deposit and withdrawal methods on IQ option
IQ option knows the importance of ensuring that it has seamless transaction methods on its platforms. We’ve mentioned that it has over 20 million active traders on its platforms. You can imagine the amount of money that it has to transact in a single day. In that regard, IQ option has a large variety of money transfer methods and they are all under the three major categories of online money transfer methods.
Almost all businesses online today have to transact with their clients using the three methods outlined below;
- Credit or debit cards
- Wire bank transfers
Let’s see what IQ option has to offer under each of these categories.
Credit or debit cards
There is no difference in the way you use credit or debit cards on IQ option, and how you will use it anywhere else. You just have to key in your credit card information on the checkout page provided by IQ Option and the payment will be made once you confirm it. Credit or debit card deposits are quite seamless and the money will reflect on the IQ Option trading account immediately.
IQ option has no restrictions on the amount you can deposit. Of course, if you are depositing for the first time, you have to deposit an equivalent of the minimum deposit of the account you’re going for. You can deposit any amount in the subsequent deposits.
It is also important that you know that IQ Option holds its trading balances in the US dollar. It there are four means that, if you send your funds in a different currency you might incur a conversion charge that depends on the prevailing conversion rate.
Keep in mind that Credit or debit cards are subject to regulations with regard to how and where you can use them. If your card has exhausted its balance, you cannot use it on IQ option. Also, it is quite likely that your current will be rejected if you are depositing funds from a different location other than their address registered on your card.
Bank or wire transfer
Bank wire transfers have remained to be an interesting way of transacting. While many might view it as an outdated way of making payments, it still has a lot of relevance and that’s why it is available on most online businesses. Bank transfers happen between the sending and receiving bank which means that your funds are completely safe. On IQ option, bank transfers have been included because they are not only safe but they are the only method of transaction available in some countries. IQ option has managed to penetrate into countries that other brokers have never even thought of.
The reason why most people tend to stay away from bank transfers is that the transaction usually takes a lot of time to complete. Bank transfer is not the transaction method you go for if you are planning to take advantage of an immediate trading opportunity. The bank transfer deposit can take between five and seven working days before the funds reflect in your account. IQ option must first receive the funds so that they can add the balance on your trading account.
Bank transfers are also quite expensive. You will be charged for every transfer that you make. We only advise people to go for bank transfers if they are depositing a large amount of money.
The above does not mean that bank transfers are all about gloom and doom. At the very least you will be a hundred per cent guaranteed that look fans are safe.
E-wallets arguably the most convenient way of transacting with IQ option. There are quite a number of them available on IQ option, which gives traders a good variety to choose from. The importance of this variety is to ensure every Trader has a convenient method I can use since the e-wallets are not available in all countries. Here are the e-wallets available IQ option.
- Perfect Money
- FasaPay, etc
These are some of the major you are e-wallets in the industry, and that your services are quite seamless. Also, e-wallets will also remain to be the most economical methods of transacting online. Those that will charge you, will charge negligible amounts.
Ewallet deposits are instant. Once you’ve hit the send button IQ option is going to receive your deposit and the funds are going to reflect on your trading account within a short while. They should be your method of choice if you seeking to make a quick deposit and take advantage of a prevailing trading opportunity
Yeah that’s our problem attack by hackers and scammers but it is the responsibility of the service providers to ensure your money is safe. The Awards outlined above are known to be very secure and there are very few cases of fraud. In any case, you become a victim of fraud in any of these platforms, they will refund you any funds that you might have lost.
The money transfer methods discussed above are the same channels that you use to receive your IQ option withdrawals. There is no difference in how the channels work while depositing and withdrawing. Keep in mind that IQ option will send your withdrawal to the same channel that you used to deposit to your account. If you want to be receiving your withdrawals instantly it is best that you go for credit cards or you are e-wallets. The iq option minimum withdrawal is $2.
One more thing you should mention is that IQ Option does not charge you to deposit money or withdraw. Any charges that you might incur during the process by the money transfer methods that you using.
In summary, transacting on IQ option is one of the reasons why most traders opted for it. It is quite seamless, and there are very few instances of transactional challenges. In any case, if you encounter transactional challenges, IQ option’s customer service agents are always available to help.