Online trading has been in vogue for roughly the last decade, especially in countries where the user base is growing. The global trading market itself has seen growth of usage that’s almost insurmountable, with India, accounting for a sizable portion of the world’s online traders. However, surprising as it may sound, the majority of the populace still lack awareness regarding online trading. That being said, Indian traders that engage in online trading use their preferred trading platforms, one of which is IQ Option.
IQ Option is a well-known multi-asset trading platform which has carved up a reputation for itself as being a secure broker. With more than two million trades being executed on its platform on a daily basis, IQ Option now plays a central role in options trading as well as general online trading in India. The platform is characterised by Cysec regulation, direct access to crypto markets and a minimum deposit of $10 only.
Legality of Binary Options in India
The legality of binary options trading in India is a lingering question that circulates among Indian trading circles. In an age where many of the country’s traders prefer online trading as a way to make a profit, IQ Option provides a good platform for binary options trading.
Trades need to note the fact that binary options lack regulation and recognition by the government. This means that it is not illegal but unregulated. Because of a lack of Indian companies in the market, Indian traders need to go for Europe-based brokers like IQ Option instead.
Trading with IQ Option in India, allow users to choose any one of the three available account options. These include:
- IQ Option VIP Account: Choosing this account will allow users an access to a personal manager, who will help them with trading.
- Standard Account: This type of account is an entry level account which has the lowest minimum deposit requirement.
- Demo Account: This is a free account, where users are provided with virtual money to practise trading in a real market environment. This is perfect for traders who are new to the platform and want to cultivate their trading skills.
Instruments Available for IQ Option Indian Users
With IQ Option, Indian traders have access to Digital options, binary options, Stock CFD trading, forex, cryptocurrency trading, commodity trading and ETF trading.
IQ Option also provides some additional feature which include
- News and calendar: As the financial market is often influenced by economic and political news on a global scale, IQ option provides a convenient news feed to keep their users updated. They also have access to the forex calendar, crypto calendar and earning calendar.
- Tools and charts: IQ Option provides several technical widgets and indicators such as Other traders’ deals’, ‘News’, ‘High and low values’, and ‘Volume’. They can easily trade from their charts directly. The platform’s seamless UI also allows seamless switching between instruments and charts. Fibonacci and trend line users can also access graphical tools to aid them.
- Mobile applications: IQ Option can be used in iOS and Android devices as well. The mobile apps provide the same capabilities as the normal trading app, allowing users to trade directly off the charts. Users should note that binary option trading is not available in the version found in Google Play and App stores. To get past this, users can simply download the IQ Option PWA app or APK app instead.
Depositing funds in IQ Option
Indian users have numerous methods to make a deposit at IQ Option. These include Bank card (credit or debit) – Visa, Mastercard, UPI, Rupay, Net Banking, E-wallets: Skrill, Perfect Money, Webmoney, Advcash and BTC deposit (will be converted to fiat money).
Users simply have to go to the deposit page and choose from the available options. They are required to provide information about their card or e-wallet and then choose the amount. They should be careful while choosing their base currency at this point, as it cannot be changed once deposit has been made. Options include EUR, USD and GBP.
In case the user’s bank card is in their national currency, IQ Option will convert the funds automatically now of deposit.
Withdrawing funds from IQ Option
The method for withdrawal depends on the deposit method chosen by the user. For instance, if a user makes a deposit from the card, they can only withdraw the initial deposit amount back to that specific card only. Everything that exceeds that amount should preferably be withdrawn to an e-wallet like Skrill, Neteller, Qiwi, Advcash and others.
IQ Option is a reliable name in the brokerage market and completely safe for Indian users to trade. Users should also conduct their due diligence and the required information before they engage in a risky trading method such as options trading.