One of the most attractive features of IQ Option is that it is one of the few regulated trading platforms that gives you access to Bitcoin options. The platform is licensed by the CySEC in Cyprus.
Bitcoin trading on IQ Option is facilitated through CFD trading. As such, you have the option to benefit from a bearish market by short-selling the coins without ever needing to take ownership of the asset. In addition, you can also get leverage of up to 100x on your cryptocurrency positions, with a minimum stake of just $1.
Apart from Bitcoin, you can also trade 12 other cryptocurrencies, along with forex, stocks, and commodities. IQ Option also allows you to polish your trading patterns through a practice account. However, unlike some other platforms, there is no limited usage here. Instead, you can use the paper trading facility for as long as you wish.
In other words, you can backtest your patterns whenever you want on this platform. IQ Option also gives you a lot of flexibility when it comes to deposits and withdrawals – with a long list of supported payment methods. This includes credit/debit cards, wire transfers, PayPal, Neteller, and Skrill. You can also start trading with a minimum deposit of just $10.
IQ Option also has an exclusive product – FX options that are dedicated to speculating on currency pairs. If you need to practice trading these complex instruments, IQ Option offers a full-access demo account. Coming to the trading fees involved – all CFDs on cryptocurrencies will require you to pay a swap fee that varies between 0.01% to 0.06%.
This can also extend up to 1.7% for overnight positions. For trading options, any fees charged will be included in the premium. Although IQ Options have a variety of financial products, it is best reserved for those with a thorough understanding of the respective derivative.
CFDs are complex instruments and entail a high risk of losing money rapidly due to leverage.
76% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.