After depositing funds, or even before that, many traders have a lot of questions regarding the platform, how it works and the security of their accounts and money. Will I be able to withdraw funds? Should I upload my documents? How do I keep my account secure?
In this article, we will answer all of the above and several other questions you may have if you are new to the platform or if you just want to double check certain things.
1) Do I have to deposit money straight away? Do I have to pay to use the platform?
No, the platform itself is free and there are no charges for using or installing it. There is also a practice account available that the trader may use before depositing real funds. The practice account might be used for trying out the instruments offered by the Company and practicing prior to investing real money.
2) Can I withdraw straight away?
Yes, funds can be withdrawn from the platform at any time, including profits; however, the latter requires that the account is verified. All available payout methods and withdrawal terms can be found on the withdrawal page. Note that the practice account’s funds cannot be withdrawn.
3) Is it safe to invest with IQ Option?
Yes, funds are securely stored with IQOption. IQ Option is a well-known broker with millions of registered traders that use the platform daily. The Company respects each trader’s decision to trade with us and provides you with the best trading conditions possible. With that said, it is important to remember that trading itself is risky and might cause losses. So it is important to implement good strategies and manage the risks.
4) Can my account be blocked?
As any company, IQOption has a set of rules which traders should follow. These rules are thoroughly explained in the Terms and Conditions on the website. The purpose of these rules is to protect both the client and the Company and provide traders with the best service possible. So yes, a violation of the Terms can lead to consequences such as the closure and/or blocking of a trader’s account. However, traders who abide by the rules and do not abuse the platform should not have such issues with their accounts.
5) How do I make sure my account is secure?
To ensure best possible security, you may use the features offered on the platform. First of all, make sure to fill in the personal information, including the email and the phone number, and set a strong password in your account. Using a phone number will allow you to enable the 2-step authentication in the account. This feature protects your account with a one-time SMS code when you sign in. To find it, go to the Personal data section on the IQ Option website and choose Safety and security in the menu on the left.
You will find other safety features like Active Sessions and Session History there, which allow you to check all the devices where your account is currently opened and see the login history. It is also possible to change your password there, if necessary.
6) Is it secure to provide my documents and bank cards for verification?
Yes, it is. On IQOption, we ask for certain documents for verification. For instance, a passport or a driving license to confirm your identity. When you upload the documents on the website, they are safely stored in the system and only the responsible specialists have access to them. In addition to this, the Company is in line with all GDPR rules, hence, all personal documents are stored and used based on the GDPR legislation. Same goes for the bank card verification — you cover the bank card information before uploading it, according to the instruction on the verification page. But do not worry: even if you forget, our system will cover it for you.
Having questions about security is completely normal: a responsible approach is important when it comes to dealing with money. We hope that this article helped answer some main concerns and that you might feel more secure and confident trading with us.