Why IQ Option Is So Popular In South Africa?

IQ Option is a well-known financial services provider, registered under the name IQ Options Europe Ltd, based in Cyprus. Having begun its journey in 2013, the broker has strived to make online trading available to all. Originally a binary options broker, it has expanded now to offer CFDs on ETFs, stocks, forex trading and digital options. With a growing customer base of more than 40 million global users, it is constantly working to improve its services to provide convenient trading. Among the many countries in which IQ Option has become popular, South Africa is one of them. The country has overwhelmingly seen a rise in online trading over the last decade.

About IQ Option

From the information we get from South African traders about IQ Option, it’s evident that it is popular in the country. IQ Option provides its clients with its proprietary trading platform and a collection of instruments to trade with. Users can trade binary options, foreign currencies, digital options, CFDs, ETFs and even cryptocurrencies from the platform. Important trading tools are also included, such as take profit and stop-loss levels. These are normally not found in other binary options brokers.

IQ Option’s platform is available as a web-based hub, a version for PC and Mac as well as separate apps for Android and iOS mobile devices. Its website is available on a 24/7 basis so traders do not have to worry about opening and closing trades. However, unlike forex trading, stocks can only be trading when the NYSE is open.

So why is IQ Option popular in South Africa?

There are a myriad of reasons why South Africans are attracted to IQ Option. Some of them are described in brief below.

Safety and Security

Almost all traders should check whether the broker they have chosen is legitimate. However, IQ Option does not showcase the features of a scam. Not only is it regulated by an international regulatory body, but it also has a high revenue turnover and a seamless website. IQ Option is regulated by CySec in the EU. It thus falls under compliance and is allowed to provide services in several countries and jurisdictions.

Under CySec, IQ Option is compliant with MiFID, which lets it offer services to clients within the EEA. There is an Investors Compensation Scheme that protects the users of IQ Option by compensating losses up to 20,000 EUR. Additional security protocols include client fund protection by maintaining segregated accounts for client funds. All communication between the broker and the trader is protected using SSL encryption.

Leverage

Leverage allows traders and investors to deposit a smaller amount and get exposure to a larger amount in trading. By using leverage, traders have access to a lot of profit. However, it also means that the chance for loss is increased. EEA traders can access maximum leverage of 1:30 at IQ option.

Multiple Strategies

IQ Option provides a myriad of specific strategies that can be applied by any trader. However, the vast number of strategies may get confusing for some. They should realise that a winning strategy for one asset may or may not work for another. This is why traders should use the IQ option demo account to practice and formulate which strategies to apply and when.

Minimum deposit

The minimum deposit for a trading account holder differs from broker to broker. Brokers cover their administrative costs and other expenses from the minimum deposit amount. In IQ Option’s case, the minimum deposit amount is just $10. Trading begins from $1, allowing the opportunity for even smaller traders to join in on the action.

Free Demo Account

Novice or inexperienced traders should always go for brokers who offer a free demo account. IQ Option is one such broker which offers a free demo account. Traders can practice on the account using virtual money. This provides a great way to understand the nitty-gritty of the market before investing real money.

Wide Variety Of Market Instruments

The whole collection of tradable instruments which IQ Option provides include 12 cryptocurrencies like Bitcoin, Ripple and Ethereum, 200 currency pairs, 4000 ETFs, indices and commodities, and over 176 companies listed in NASDAQ and NYSE. Additionally, it also provides binary options, digital options and FX options trading.

Deposit and Withdrawal methods

To initiate a deposit or withdrawal on IQ Option, a user must first go through the account verification process. IQ Option offers many withdrawal methods to South African citizens. But for depositing, they must use their credit card. Profits can be withdrawn using either an e-wallet or a bank transfer. Withdrawals are generally processed within a couple of business days. Thus IQ Option provides hassle-free options for deposits and withdrawals.

User Reviews

There are numerous testimonials from existing South African clients which vouch for the effectiveness of IQ Option. All of this suggests that IQ option has been operating in the south African trading market for quite some time without any major incidents.

Overall, IQ Option is an impressive platform that elegantly balances functionality and transparency. It complies with the latest financial regulations so a user does not have to worry about it. An easily navigable UI provides experts as well as novice traders with a platform that can enrich their trading experience and produce significant profits. South Africans can avail IQ option to access binary options trading and not miss out on the incredible profits.


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