Published on October 25th, 2018 | by John Kane0
Broker Review: IQTrade24 (Warning)
This article will give you an in-depth review of a popular binary options broker available today. Located in the Republic of Cyprus, IQTrade24 has a license from Cyprus Securities and Exchange Commission. Their license number is 216/13 and is valid in all of European Union’s member states under the provisions of the European Parliament’s MiFID (the Markets in Financial Instruments Directive).
Since this is a regulated platform, this binary options provider is encourages to abide by the requirements and the policies set by the financial regulator. By this way, IQTrade24 claims they are able to protect their customers. IQTrade24 is operated by B.O Trade Financials Ltd and they make sure that the traders at are able to make their trades securely with knowledge.
Reputation (2018 Update)
When it comes to reliability and trustworthiness, IQTrade24 is not meeting our expectations. With a recent investment caution from the BSSC, there are doubts floating in the market that they aren’t who they say they are. This is obviously a major concern, and something that shouldn’t be taken lightly.
It’s also worth noting that this broker is not related to IQ Option despite having a similar name. They likely used this name in order to sponge off the success of IQ Option.
IQTrade24 really prioritizes the customer’s security and the safety of their funds. Since they have a large team of experts they understand the need of safeguarding the trading funds of the customers and have implemented the high level of technology and compliance for that very purpose alone. In this age of technology assisting high levels of identity theft, this form of safety is more of a necessity rather than a luxury.
They use the SSL encryption technology for all of the deposits which are made through the credit cards which assures that the personal and the financial information of the traders is kept safe and secure. The website is also secure with the same SSL technology and certificates and the staff or the employees will never the know the account passwords of the usersso that is also secure information!
IQTrade24’s trading platform is technologically advanced yet user-friendly enough that most people can understand quickly. It is easy to navigate and the process itself is very fast. It is completely web-based and there is no need to downloading any software and as such, the customers can use IQTrade24 anywhere and anytime. The web based platform is common in this market, as you can see in my reviews of Binary Cent, and HighLow.
This is quite a new concept and is introduced by IQTrade24 in order to help and provide guidance to the users. In the iFollow, it gives the option to the traders to follow the most experienced or the best traders who are on the platform. Following these traders provides a learning experience to the other users. From the moment they transfer the funds into their account, all you would need to do is choose the most successful trader and you can duplicate his trades! You do however have the option of setting the time frame and the parameters to follow your desired trade as well as the amount.
At IQTrade24, they also offer the One Touch binary option, which is offers really big payouts only on the weekends. The payouts may be as large as around 550% returns on the investment but it may be more challenging than the regular binary options in the market.
This is a new and an innovative yet, high profitable form of trading the binary options. The payouts in this form of trading may be up to 1500% profit in a small frame of time such as less than 30 minutes! This form of trading is able to incorporate the classic binary options, such as the call/put option of trading and it also offers the traders 5 different opportunities for an asset through which the traders are able to make predictions about the market movements. This form of trading is quite common at IQTrade24 among the traders who have been able to generate large sums of money through this option.
This is the most basic way of trading in the financial markets where the users simply asses the price of an asset over a period of time. This is the main form of trading at IQTrade24, and it offers traders the binary options that can be purchased at any time of the day. You may be able to even customize your binary options broker settings with the investment amount and the expiry time. As such it is quite a simple form of trading, especially for the new users as they can sit back and wait for the outcome of the trade and collect their profits and move on to their next trade!
The traders have the options for trading in currency and they have a list of the popular currencies such as USD, AUD, GBD, CNY, BTC, CAD, EUR and more. So the traders have various options of trading they can choose from, all under one platform.
Training and Support
At IQTrade24 they offer in-depth training materials to the users to benefit from, whether they are new users or professional traders, to boost their learning process. They also have latest technology that they provide their users and real time data streams from Thomson Reuters.
Overall, there is just too many negative impressions about this broker for me to look past. There is not much information available about the type of accounts they offer however; neither is there anything about the availability of demo accounts. This can be construed as a drawback. I won’t be recommending them to any of the Binary Today readers.
Summary: With the current warnings against this broker, we can't take any chances with our rating.
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