Here is an update on the IQ option, Binary Trading, product review I wrote back in June.
In the past few weeks IQ options has made a number of changes to it’s platform, some good some bad, depending on your view and interest.
What has not changed
They still offer a free, unlimited use, demo account which you can keep topping up
The demo account is useful for learning the ropes and perfecting your trading strategies.
It is also good if all you want to do is play at being a trading tycoon!
The minimum deposit is still £10.00/$10.00
The basic operating principles are the same, you trade by betting on the asset price rising or falling, from the price at time of trade, over a period of time
If you predict correctly you make a profit.
What has changed is how the trading works, the number of options you can trade, how the profits are calculated, the timing of trades and the information available.
The platform now only offers speed trading in increments up to 5 minutes when in the past you could have turbo trades every 2 minutes.
Their binary options go out 1 hour in 15 minute increments, and they have expiry times as far out as one month.
In July 2017 a new product called Digital Options were introduced. They have more than 500 underlying assets available for trading, with the only commodity they offer being Gold.
There are mobile trading apps available for both Android and iOS.
Still a popular feature at IQOption are their weekly trading competitions.
The number of trading options have been reduced to just forex, crypto currency and a couple of assets.
Gone has the turbo trading.
Automated Trading Software
IQ Option does not provide any auto-trading robot.
It is still a good platform to learn your trading but it limited in your trading options.
Profits are also very good and they have kept the competitions.