IQ Option minimum deposit: How to deposit money
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Are you planning to use IQ Option but aren’t sure about its minimum deposit amount? That’s a question many first-time users usually have. However, there is very little reason to worry. Its low fees, flexibility, and online tools make IQ Option excellent for trading assets. If you’re still wondering about the minimum deposit amount, this article will tell you all about it and more.
What is IQ Option?
Trusted as one of the best online trading platforms, IQ Options makes trading on assets easy.
It’s a CFD or Contract for Difference-based trading platform. That means IQ Option lets users speculate on the prices of the stocks. In other words, whether the prices will climb or sink without owning any asset themselves.
Founded in 2013, IQ Option has grown rapidly worldwide, with over 20 million daily users. Operating from Cyprus, it falls under the regulations of the Cyprus Securities and Exchange Commission.
What does IQ Option offer?
When it comes to trading, the options offered on the platform are extensive. Among them-
- Stocks: The platform makes it possible for users to trade CFDs on stocks. It lets you trade in over 170 companies listed on NASDAQ and NYSE.
- Cryptocurrencies: Alongside stocks, users can also trade in top cryptocurrencies from anywhere in the world. Bitcoin, Ethereum, Dash are just some of the options available on the platform.
- ETFs: Exchange Traded Funds are a form of pooled investments. It keeps a tab on a particular index and can be bought or sold on the stock exchange like regular stocks.
- Forex: IQ Option allows Forex trading. It gives users a global reach in the trade, commerce, and finance marketplace.
How much is the IQ Option minimum deposit?
Whenever setting up a new trading account, every online broker requires a minimum deposit before getting started. A great aspect of IQ Option is the exceptionally low minimum amount of $10 that you need to deposit before starting a trading account.
The minimum deposit amount depends on a variety of different factors, including-
- Trade Size: The most important determining factor for a minimum deposit amount is the smallest trade conducted on the platform. The minimum deposit has to always be over this value.
- Base Currency: Most trading platforms allow traders to select the currency for their respective accounts. There’s usually a choice between a few currencies, which can sometimes determine the minimum fees.
- Preference of the Broker: A minimum deposit often considers the business strategy of the broker. They’re more likely to set a minimum amount that aligns with their financial objectives and business plan.
The minimum trade that’s possible on IQ Option is as low as $1. That makes it incredibly easy to have a minimum deposit of just $10 when starting. However, this figure is dependent on the access and benefits of your account. For example, the minimum deposit for the VIP account on the platform is much higher than the usual one. That’s because the initial uptake for the VIP account can quickly go past $1000, explaining the higher minimum deposit.
IQ Option fees
Minimum Deposit | $10 |
Withdrawal Fees | No Fees when using PSP |
CFD Fees | 0.0-0.3 pips |
Trading Fees | No fees are required |
Inactivity Fees | $10 fees after 90 days of inactivity |
Base Currency | USD, EUR |
The fees to trade on the platform are extremely low. The users also don’t need to worry about paying the broker any commission. That can help maximize profit and increase your leverage.
Payment methods on IQ Option
The platform permits a wide range of payment methods to deposit funds in your trading account. However, each of these deposit options are slightly different.
- MasterCard or Visa- The minimum value when using a credit or debit card is $10. The amount is processed instantly and charges no commission.
- Net Banking- The minimum has to be $10. The broker charges no commission. However, it might take 1-3 days to process the payment.
- GlobePay- Paying through GlobePay requires a minimum deposit of $10. It also guarantees instant payment and charges no commission fees.
- Skrill- Minimum deposit of $10 is required to initiate a deposit. Guarantees instant and commission-free payment.
- WebMoney WMZ- A minimum deposit of $10 can be made through WebMoney WMZ. It charges no commission, and the payment is instant.
Types of accounts available on IQ Option
IQ Option is a broker that considers the needs of its users. Accordingly, it provides three different account types to fit every user.
- Training Account
IQ Option introduces the platform to new users through a demo or Training Account. These accounts are similar to the Real Account and help users learn about the platform, form strategies, and test them.
A Training Account gets created when you first sign up on IQ Option. There’s no need to make it separately, and it can be accessed from the dashboard whenever you want to. The practice account starts you off with an initial balance of $10,000. This amount is non-withdrawable and appears in orange color.
Although it’s just a demo account, the charts available are the same as Real Accounts. It helps sharpen your skills as a trader and develop strategies for the Real Account.
Once you’re a member, you can switch between the Training and Real Account whenever you want. If you’ve depleted the $10000 balance, you can choose to fill it up by clicking on the “Deposit” button.
- Real Account
Once you feel ready, you can start trading with the Real Account. The account gives you access to various sophisticated graphs and charts. It lets you understand the market and make informed decisions.
The scope of Real Account permits users to trade over 500 different assets. The withdrawal is fast and straightforward, and the profits are deposited directly to your account or e-wallet.
Additionally, Real Account enables you to participate in weekly tournaments and connect in Live Chat with other traders. You also retain access to the Training Account and can sharpen your skills whenever you want to.
- IQ Option VIPs
The VIP is the Premium account on the platform and comes with several perks.
Greater Profitability
A VIP member can expect to earn greater profits than a regular user on the platform. That’s possible because of the 3% advantage VIP users have over the rest. It makes achieving your target simpler.
Managers
A VIP Account also makes you eligible to have a Personal Manager. The personal managers are a competent support team, ready to assist you whenever you need them. They are experts and can mitigate all your doubts.
Free Participation
Becoming a VIP member also means having free access to every tournament. You can participate in any contest without having to pay any entry fee.
How to set up an account in IQ Option?
IQ Option has made it incredibly easy to set up an account on the platform. It’s a quick process, and users can set up an account through any of the following ways-
- Facebook Account
- Google Account
- iOS App
- Android App
Using Email
- To sign up with your email, visit the IQ Option website.
- Search and click on the “Sign-up” button in the upper right corner of your screen.
- Fill out your Full Name and Country of Residence on the screen that opens.
- Submit your Email address.
- Set up a password.
- Complete the set-up by clicking on Submit after agreeing to the Terms and Conditions.
Using Facebook Account
- After clicking the “Sign-up” button on the website, find the Facebook button on the screen.
- Select the option and confirm your age in the dialog box that opens up.
- In the login window, enter your registered Email.
- Enter the password of your Facebook account and click on Log-in.
- Complete the step by allowing IQ Option access to your profile information.
Using Google Account
- Signing up through your Google account requires selecting the Google icon on the Sign-up page.
- Confirm your age and agree to the Privacy Policy and the Terms and Conditions.
- Enter your Email address and password.
- Click on next to start your account.
iOS App
- For iOS devices, start by downloading the IQ Option app from the App Store.
- Complete registration by filling out your Email address and password.
- Enter your Country of Residence.
- Agree to the Terms and Conditions and click on Register.
Your account is ready.
Android App
Setting up your IQ Option account on an android device is pretty much the same.
- Start by downloading the IQ Option app from the Play Store.
- Enter your Email address and password.
- Select your Country of Residence.
- Agree to the Terms and Conditions.
- Press on Register.
How to deposit on IQ Option- Tutorial
IQ Option ensures quick and hassle-free payment methods to provide you with an uninterrupted trading experience. You can choose to deposit via Net Banking, Credit/Debit card, and e-wallets like Skrill and WebMoney.
The platform only needs a minimum deposit of $10 to get started. To make your first deposit, you need to-
- Open the IQ Option app on your mobile. If using the web, visit the IQ Option website on your device.
- Click on Log-in to access your trading account.
- On the homepage, you’re going to find the “Deposit” button in the upper right-hand corner of the screen. In the trade room, the green “Deposit” button is going to appear in a similar position as well.
- Click on the button and enter your deposit amount. You can prefer to enter the desired amount manually or select a figure from the list available.
- The next step involves providing a payment method. For the guide, let’s choose to deposit funds using a credit/debit card.
- Click on Payment and wait to be re-directed.
- You would have to enter your card details on the new page, viz. Card number, name of the holder, expiry date, and the CVV.
- Select the Pay button.
- A one-time password would be sent to your registered mobile number. Enter the code and click on Confirm to complete the payment.
Once the payment is complete, IQ Option links your card to the trading account. From the next transaction, you no longer need to enter your details. Proceed with the payment by selecting the card from the list.
Deposit currencies
Deposits currency refers to the base currency, for making deposits. It’s also the medium used for every transaction on IQ Option. The traders get an option to select their base currency when setting up the account. However, the platform doesn’t allow you to change your base currency later on.
The minimum deposit amount on IQ Option for different currencies are as follows:
Currency | Minimum Deposit |
United States Dollar | 10 |
Euro | 10 |
British Pound | 20 |
Malaysian Ringgit | 40 |
Chinese Yuan | 70 |
Indonesian Rupiah | 100 000 |
Vietnamese Dong | 200 000 |
South African Rand | 150 |
Philippine Peso | 500 |
Thai Baht | 270 |
Russian Ruble | 300 |
Conclusion
Trading can be difficult, especially for the uninitiated. However, IQ Option is determined to change that. The platform has got you covered for all your needs, from training accounts to VIP accounts.
The flexibility of IQ Option can also be witnessed in its options when making a deposit. Its $10 minimum amount fees are unrivaled among other trading platforms. That makes it a perfect choice whether you’re new to trading or just exploring options.
The sophisticated interface of the platform, coupled with its flexibility, makes it the best choice for trading.
FAQ – The most asked questions about IQ Option minimum deposit :
How much can I earn from my training account?
The training account doesn’t allow you to withdraw any profits you might have made from a transaction. It’s primarily designed to help you learn. That’s why a training account only gives you access to virtual funds. To start earning profits, you need to use the Real Account.
How to visit the real account from training account?
On the trade room page, you’re going to spot a Balance button near the top-right edge of the screen. Clicking on the button is going to show you all of your accounts. Continue with the Real or Training Account by selecting one from the options.
How to add funds to training account?
The Training Account allows you to start practicing with a virtual fund of $10,000. However, it’s not a fixed sum, and you can always add to it if the balance becomes too low. Start by selecting the account. Next, click on the Deposit button and enter your desired sum. The money will enter into your account.
How to protect my account?
IQ Option recognizes the concerns of its users to protect their trading accounts. For this reason, the platform comes equipped with two-step authentication. The platform requires you to enter a unique code sent on your mobile to log in to your profile. You can activate it from the Settings option on the app.
How quickly can I withdraw money using bank transfer?
E-wallets or credit/debit cards allow you to withdraw money instantly from the platform. However, the process can get a bit stretched if you’re using a bank transfer. That’s mainly because bank transfers are conducted in batches throughout the day. Nevertheless, you can expect to receive the money within 1-3 banking days.
What’s the minimum and maximum amount I can withdraw?
IQ Option gives you a wide choice for withdrawing your money. It caps off the maximum withdrawable amount at $1,000,000. In contrast, you can withdraw as low as $2 without any restrictions on the platform. For collecting any amount below $2, you need the assistance of the Support Team.
Which documents do I need to withdraw my money?
IQ Option requires an account verification before allowing you to withdraw any profits. The step aims to protect its users from financial fraud and misdoings. To complete the verification process, you need to upload the following documents-
A photo ID (Passport, driving license, voter ID, etc.)
For payments made over a debit/credit card. However, the platform urges its users to shield their CVV number and only make the card number’s first six and last four digits visible.
Why am I shown a 72-hour error?
72-hour error is an anti-money laundering system put in place by IQ Option. If you wish to withdraw your profit after depositing your money using Boleto, you need to wait for 72 hours. The error is not applicable to any other form of deposit.
How to change the currency?
Unfortunately, IQ Option doesn’t allow its users to change the currency in their profile. You can set the currency when you make the first deposit. After that, the platform follows the chosen currency unit. However, there isn’t any restriction on the currency you can use for your deposit. IQ Option converts the deposit into the selected currency.
Which Credit/Debit card can I use?
When depositing or withdrawing money, IQ Option allows you to use MasterCard, Visa, or Maestro to complete the transaction. There are no charges involved in this payment method. However, the cards must be registered in your name and allow international transactions.
What payment methods are available for making IQ Option minimum deposit?
Traders can fund their trading accounts with IQ Option minimum deposit using any payment method the broker offers. Usually, traders trading on IQ Option can access the following payment methods.
Bank transfers
Cryptocurrency
Electronic wallets
Debit and credit cards
While funding their trading accounts with IQ Option, traders must ensure that the payment method solely belongs to them.
Can a trader make an IQ Option minimum deposit without account verification?
No, you have to verify to trade on IQ Option. Initially, you must confirm your address, email, and other personal details. If you wish to make an IQ Option minimum deposit or withdraw your profit, verify your identity and payment documents. It would be possible if you had proof of residence, an identity document, and bank card information.
Is the IQ Option minimum deposit very high for traders?
No, IQ Option has a very minimal initial deposit amount. Beginners can trade on this trading platform by funding their trading accounts with an IQ Option minimum deposit of only $10. It allows traders to enjoy trading and see what the broker has for them. A low minimum deposit amount makes any trader comfortable with trading on this platform.
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Last Updated on January 27, 2023 by Arkady Müller
