There are a number of ways to profit from global financial markets – currencies, stocks, commodities, ETFs, cryptocurrencies and indices. But as average retail traders we can’t have access to most of them. For instance, purchasing Gold – in reasonable quantities – is quite expensive. As a retail trader, it is almost impossible to purchase crude oil; even if you do, there is the storage problem. Shorting of stocks is mainly a game for the large fund managers.
Does that mean we can’t participate and profit from the markets? Absolutely not! Technology advances are making it possible for us to speculate on the price movements of these financial assets without actually owning them.
These innovations are called “derivatives” and popular among them is binary options. Trading binary options simply entails betting on the direction of prices of financial assets such as currencies, commodities and stocks, amongst others; for this you get a fixed payout when your “bet” goes right, and you lose a fixed amount as well if it goes the other way.
To however be able to trade binary options, you need a broker. Although there are several binary options brokers Ghana that offer binary options trading Ghana, the importance of going for one which is credible and trusted cannot be over-stated; and one of such is IQ Option.
Present across at least 4 continents, IQ Option is one of the most recognised names in the binary options brokerage industry, boasting about 52 million active traders on its platform.
Although IQ Option has its physical headquarter offices located in Cyprus; it has a number of outlets spread and scattered all over the globe. As a recognized broker, it is regulated by the Cyprus Securities and Exchange Commission (CySEC) and also registered with the European Services and Markets Authority (ESMA). As a regulated broker under CySEC, this means that IQ Option is also a MiFID compliant broker. In other words, IQOption is permitted to offer its services to clients within the EEA. Another benefit for clients of being regulated by CySEC is the fact that IQOption is also a member of the Investors Compensation Scheme. Under this scheme, each of IQ Option’s clients’ funds is protected up to a maximum amount of 20,000 euros.
But for traders that are outside the EEA, their accounts are managed by a separate sister company called IQ Option Ltd. The company is based in Mahe, Seychelles and is regulated by the Seychelles Financial Services Authority (FSA). It was established in 2013, it started out as a binary options broker but later added other markets like Stocks, Forex, ETFs, Commodities, and Cryptocurrencies.
IQ Option has attracted a lot of traders since its existence. Over $380 million trade volume is processed monthly with more than $10m monthly withdrawals. IQ Option has received countless positive reviews from its customers. The awards gotten from several reputable and trusted bodies is something to definitely bank on if you are not yet sure whether to subscribe with this broker.
It is an understatement that IQ Option is a credible broker. All you have to do to confirm this claim is to conduct some check online, as to the perception of IQ Option by people who already make use of it. To do this you can take different approaches:
Forums and chat rooms: One good place where you can find persons who have used IQ Option, and who can give good reviews about it are Forums and chatrooms related to trading in general, most especially binary options trading. To find these forums and chatrooms, you can go on Google and search, “Forums + Binary Options” or “Forums + Trading.”
You can, however, narrow your search down and be very specific, by typing, “Forums + IQ Option.”
There are a lot of blogs dedicated specifically to reviewing different services as it relates to trading. There are some specifically dedicated to binary options trading and to reviewing binary options brokers. The authors of these blogs are usually expert reviewers and their reviews of a broker can be safely relied upon.
IQ Option has a mobile app available on both the Google Play Store for devices powered by the Android OS, and the Apple App Store for iOS devices. There are chiefly two ways through which you can check the reviews of a binary options trading app (this time, the IQ Option app) on the app Stores.
First, there is a Rating; this is simply the score that the app has over a total of 5.0. This score is determined by the user’s rating and thus is very credible. On both app Stores, IQ Option maintains a rating of over 4.0, which is very decent.
Furthermore, you can go to the Reviews section where users actually tell of their experience with the app, and the complaints or issues they may have with it.
As a testament to the quality of its services, IQ Option has bagged numerous industry awards from reputable institutions, some of which are the Best Binary Options Broker Europe award by the prestigious Global Banking and Finance Review; Fast Growing Binary Options Brand by Global Brands Magazine and Most Innovative Binary Options Broker by ShowFX World, amongst many others.
The instruments traded in IQ option include the following: Cryptocurrencies; Stocks; Forex; Options (Binary Options & Digital Options); and ETFs (Exchange Traded Funds).
There are 28 cryptos traded in Cryptocurrency CFD on IQ Option, including; Bitcoin (BTC), Bitcoin Cash (BCH), Ethereum (ETH), Ethereum Classic (ETC), Stellar (XLM), Ripple (XRP), Bitcoin Gold (BTG), Litecoin (LTC) and Dash (DASH), amongst others. Another innovative product delivered by IQ is the Cryptocurrency Multiples. These effectively work like a leveraged trade, so price movements in the underlying assets are magnified. IQ Option first introduced this idea with Bitcoin x 100. This amplified the prices movements by 100 times, creating huge opportunity – and risk – for traders.
There are currently 49 trading pairs on IQ Option. The major pairs include: EUR/USD, USD/JPY, AUD/USD, GBP/USD, AUD/JPY, EUR/JPY, USD/CAD and GBP/JPY, amongst many others.
Finally, we have Options. There are three types of options in this trading platform; binary options, digital options and FX options with over 72 assets to choose from
This is the most popular type of option as well as what IQ option was known for at its inception. You can profit up to 95% for payout, in as little as 60 seconds if the trade goes your way. But lose all if it goes otherwise. To trade binary options, you are required to put up at least $1 per each trade.
This is an option that speculates on the extent of price change of binary options cryptocurrency Ghana, indices, commodities, and stocks. Profit could be as high as 900%. The risk is also very high and could lead to the loss of your funds in a flash.
This is a newly-introduced Product and they are currently only available across the five major currency pairs. Available in EU regulated markets, they offer fixed risk investments, similar to binary options. There is a set expiry for each FX option and the potential payout is dependant on the underlying asset price. So where a trader believes a strong price move is imminent, payouts reach 2000% and more.
As the expiry approaches, payouts tend to grow as these options are affected by the same delta and gamma values as traditional options. There is a $30 minimum trade placed on FX options, but they can be sold at any time up until expiry. So if a trader has brought either a call or a put, both can be sold prior to expiry to either lock in profits or cut losses.
IQ Option Review Ghana
Just like most binary options brokers, with IQ Option, you also have a variety of account types to choose from.
Normally, there is the binary options Demo Account Ghana which you get for free when you undergo the registration. The IQ Option demo account is given when you open an account.
Then there is the Live Account. This is the account where you have to commit your actual capital. However, when signing up to use the Live Account, there are multiple options that are available to you.
There is the Real account and the VIP account; each comes with its own pecks. You may be wondering why there are different.
Although it is not officially named so, the “Real” account is the basic live account that you get to open with IQ Option. The minimum deposit required to get started here is $10, and the minimum you can commit for each trade you open with this account is $1. It is recommended that you go for this type of account if you are just getting started with binary options trading in general and IQ Option in particular.
Perks that come with this live account include access to weekly trading tournaments where traders can win bonuses from IQ Option (however, they are only available to traders outside the EU); you also have access to 24/7 customer support.
To clinch IQ Options Ghana VIP account, you need at least a deposit of $1900 into their trading account. Apart from those listed in the “Real” account, benefits that come with a VIP account include access to personal account managers, personal sessions with experts from IQ Option as well as extra educational resources.
However, due to ESMA regulations, the VIP account is only open to traders outside the European Union. As such, as a trader in Ghana you may not be able to access this unless you get someone in Europe to do the registration for you.
IQ Option Mobile Application
You can access IQ Option’s trading platform through the web (on PC) and via binary trading mobile Ghana applications.
IQ Option’s mobile apps are one of the best in the industry, as shown in the number of awards that IQ Option has clinched for it. IQ Option has clinched the Most Innovative Binary Options Platform by the IFM Awards; the Best Technology Application by the Web Marketing Association, and The Intelligent Trading app for Binary Options by the Mobile Star Awards.
IQ Option reports that over 295,000 trades are conducted daily on its mobile platforms, and it currently has over 6 million users. The mobile apps are available for Android (and downloadable on the Google Play Store) as well as iOS devices (accessible on the App Store). The IQ Options Ghana app comes with a lot of features and functions that helps gives the trader a seamless experience.
Upon opening the IQ Option app, you are confronted with the charts; for those opening for the first time, you see the EUR/USD chart, bearing the fact that it is the most traded forex pair.
Below is a Calendar-like icon that stands for Market Analysis. Here you have access to real-time market-moving news globally.
Comprehensive and Basic Trading Education in the form of Video Tutorials
Next is the video-like icon that opens you to educational resources covering trading basics, CFD trading, fundamental and technical analysis as well as market news.
IQ Options Ghana has its customer service inbuilt into the app. The message-like button stands for chats. In this case, you have a live chat where you can communicate with customer service 24/7. Then there are trading rooms – English Chat, and Forex, Stocks and Crypto chats. However these are not widely available; you must hit up to $300 trading turnover before you can be able to chat in any of them. However, you can view the chats of the eligible traders.
IQ Option Demo
One of the most important features of any good binary options broker is providing its traders with a demo trading account. IQ Option in Ghana – keeping to its standard as a trustworthy broker – provides its traders with binary options demo trading account. The importance of a demo account to a trader’s trading trajectory cannot be overemphasized. By way of introduction, a demo account is a type of trading account which is filled with virtual money.
This account is provided by a broker to traders using its platform. With a demo account, you can make trades and do almost every other thing that you do when using a live trading account. However, you cannot withdraw the fund or whatever profits you make with the account. Nevertheless, as you will see, a trading demo account is a must-have.
Listed below are ways in which the demo account has proven invaluable:
Practice Trading Skills with IQ Option Demo
For newbie traders, the demo trading account gives you the opportunity to put to practice whatever trading skills you might have learnt. Here, you are trading real-life market situations but with fake money, without any risks coming whatsoever on your part.
Test IQ Option Trading Platform
Before you sign up with a particular broker and commit your capital to it, you may want to test such a broker out. There is no better way to do so than with a demo account. With a demo account, you get to know how trading works with the broker; the instruments that you can get to trade with the broker; or whatever currency your trading account will be denominated in. With these, you can easily decide if the broker is worth it or not.
As such, it is recommended that before you register with OlympTrade, you first use its demo account for some time.
Test a Strategy or System
Even as an experienced trader, you will still very much be in need of a demo account. From time to time, you will develop or come across new trading strategies, but you will need to test their effectiveness or profitability before you commit them to your live account. Your demo trading account gives you the best opportunity to do so without incurring any risks. IQ Options Ghana provides traders that do business with it with an automatic $10,000 demo account that they get when they sign up.
The good thing about the demo account provided by IQ Option is that it is refillable and replenishable. That is, if you deplete the account to any amount, and wish to start again, you can just go to the refill settings in your IQ Option trading platform either on PC or mobile, and your demo account will be back to $10,000.
IQ Options Minimum Deposit in Ghana
- Visa/Master Card (Debit or Credit card)
The minimum amount that can be deposited at once is $10.
IQ Option Withdrawal Ghana
Before talking about withdrawal, you have to note that the channel through which you deposit into your IQ Option binary options trading account is also the same channel through which you will withdraw your profits when the time comes. So when making deposits through any channel, consider whether it is the same channel through which you will use to make withdrawals.
This is quite understandable; the binary options brokers such as IQ Option are really doing their best to protect you against frauds ad cyber-theft, and as such will try to get a uniform, verified channel through which you conduct your deposit and withdrawal transactions. As can be seen above, the minimum amount to deposit with IQ Option is dependent on which of the accounts you choose. However the least you can deposit no matter the deposit channel is 10 GBP/EUR/USD.
You can make deposits through the following channels:
- Bank wire transfer: only available in some countries.
- Credit or debit cards especially those powered by any of MasterCard, Visa or Maestro.
- Electronic wallets such as Neteller, Skrill, Payguru, WebMoney, and others.
To make withdrawals, you need to leave at least $2 in your trading account. Withdrawal channels are also the same as listed above.
If you leave less than $2 balance in your account, it might get closed.
IQ Option Ghana Contact Details
IQ Options Ghana provides their traders with a 24/7 customer support chat. There is also a mobile app for android and iOS users. There are four ways to contact IQ option:
- Online Chat – as shown in the picture above, response to chat just takes 3 seconds. This is rather conservative because when I contacted support through this method, the response took less than 5 seconds, it was rather instant.
- Support Ticket – response to support ticket takes about 16 minutes as stated on the website.
- Email ([email protected])
- Phone call – There over 25 phone numbers through which one can contact IQ Options Ghana depending on your country, some of these numbers are toll-free.
Does IQ Option Work in Ghana?
IQ Option works everywhere in the world where binary options is not banned; and Ghana is not one of those countries. Thus, it works perfectly well in Ghana.
Is IQ Option Legit in Ghana?
IQ Option offers services to traders in over 150 countries spread across almost all continents; one of those countries is Ghana. Furthermore, the Ghana regulators have not released any regulation or law banning or prohibiting binary options trading or IQ Option. Thus, IQ Option trading in Ghana is very well legit.
Is IQ Option Safe?
IQ Option is very safe. The broker is one of the biggest and most successful binary options brokers you can find in the industry with over 40 million traders registered on its platform. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) as well as the Financial Services Authority (FSA) of Seychelles. Some notable brokers that accept Ghanaians include Olymp Trade Ghana, Deriv.com Ghana, Binary.com Ghana, amongst others.
Best time to trade IQ Options in Ghana
The best time to trade binary options on IQ Options Ghana is dependent on the underlying assets you want to trade. If you are a currency trader or stock trader, there are times that are very well suited to these Instruments. Same for cryptocurrencies, indices and commodities.
IQ Option Robot
The IQ Option robot is simply an automated trading software that is designed to trade without you being involved in active trading. To make use of it, you can download it for your device – there are versions for your PC which works best on the Chrome and Opera browsers. Unfortunately, IQ Option Robot is no longer available, but you can read more on binary options robot Ghana or cryptocurrency trading bot Ghana.