How To Deposit Money To IQ Option? Best Methods & Tips To Fund Your Account

Many traders are attracted to binary options trading because of its promising money-making potential. Its simplicity also led to a strong appeal among newcomers to the financial markets. One of its most popular trading platforms is IQ Option. If you’re a trader who’s planning to use this online broker, you may be interested to know how to deposit money to IQ Option and commence with your trading endeavors.

The thing that sets IQ Option apart from other binary options brokers is that it offers various options for different payment types for their users. In this article, we’ll enumerate and discuss these options, the best methods and tips, to help you see which one works best for you.

Binary Options

Binary options work on a simple yes or no proposition with capped profit and risk potentials. Trades are placed based on what the trader believes – whether an underlying asset will have a higher price at a certain time or not. If yes, the trader purchases the binary option. If not, the trader sells it. Like other financial markets, it includes a bidding and asking price that fluctuates until the expiry of the option. Trading can happen on any of the popular binary options brokers around.

It’s worth noting that binary options traded in and outside the U.S. have different structures according to Investopedia. Moreover, traders must fully understand the two probable outcomes of exotic options and how binary options work. Knowing the markets and timeframes for trading and its advantages and disadvantages are crucial before engaging in this type of trading to prevent huge financial losses. Statistics show that a single trader makes an average deposit of $1,400.

IQ Option: What Is It?

Before we discuss how to deposit money to IQ Option, let’s take a close look at this broker first. Here we explain how the app works and how it can help you better understand and profit from binary options. IQ Option is a licensed and regulated online broker with its own custom-built trading platform for binary options. Maintaining user confidence and their company’s reputation is important for users to see they’re a reliable firm. Hence, they show transparency through their operations such as:

1. Demo Account. New investors get a fully free demo trading account which they can quickly start using to trade. It’s not time restricted and works in parallel to the real money account. This is the firm’s way of allowing traders to hone their skills and familiarize the practice while being confident of their platform to maintain trader retention.
2. Regulations. The firm has stopped offering deposit match bonuses as the regulator deemed it as high risk. Since they’re regulated, they adhere to CySec rules.
3. Hedging. This simple yet advanced investing strategy is popular in financial markets. To manage risks, IQ Option actively shows when and how they hedge their positions to reassure skeptical traders. This is important for traders who are afraid of other “over the counter” (OTC) brokers that want their traders to lose.
4. Support. Contacting IQ Option is available through a wide array of options and languages. They have live chat for an immediate resolution to questions and complaints. They also offer 24/7 telephone support for 18 countries.

IQ Option: How to Deposit Money

Utilizing a quick and secure method on how to deposit money to IQ Option is essential so you can immediately and securely top up your funds in your trading account when an opportunity arises. With the platform’s low minimum deposit at $10 and opening transactions at $1, trading is made accessible for everyone. Here are the best methods and tips on depositing:

1. Credit Card/Debit Card

Using a credit card and debit card is one of the quickest and most convenient ways of depositing money in your account. Since many people already have these bank cards, there is no need for you to create an extra account anymore. Funds are also immediately added to your account balance. This is crucial when you no longer have money on your account after you’ve invested or withdrawn them and you recognize a trading opportunity.

Using credit cards and debit cards doesn’t incur hidden fees or charges. (Note: It’s still important to check your own bank’s regulations, especially for credit cards, as they may vary per bank and country.) This lets you deposit money multiple times without being charged a fee for each single deposit transaction.

This method is available for:

• Visa
• Visa Electron
• Maestro
• MasterCard

How to add funds to your account using a bank card:

1. Open your menu on the upper left side of the dashboard. Choose “Deposit”; it’s the first option you’ll see. Or,
2. Click deposit on the upper right side of the dashboard located just beside the figures of your account balance.
3. Pick your payment method.
4. Enter the amount you want to deposit.
5. Add in your card details: cardholder name, card number, expiry date, and CVV or CVC code.
6. After clicking “Pay,” you’ll instantly see the funds added to your account.

2. Wire Transfer

Wire transfer refers to the electronic transfer of money that goes from one bank to another, and then the recipient’s account. As a bank-to-bank transaction, it’s a secure method since federal regulations require identity verification (among other information) and a physical address for everyone who opens an account. While it’s a reliable option, the days it can take to move money may be challenging for binary options trading, especially when you need the funds immediately.

This is recommended for depositing a larger amount of money because of its security. It also prevents you from overspending and gaining debts because you’ll only use the amount you can offer, as compared to using credit cards.

3. eWallet

An eWallet, also called a digital wallet, is used by people to pay for goods and services purchased online. It has a growing popularity because of it’s secure, convenient, and hassle-free transaction. Its utility is the same as that of a debit card and credit card. Meanwhile, the difference is that it’s an electronic card and pre-paid account where the user stores his/her money for future purchases. Using it to deposit money into your IQ Option account is fast and easy. Additionally, there are no extra fees.

Here are the eWallets catered by IQ Option:

1. WebMoney. This internet currency and universal payment system enable paying, withdrawing, and topping up funds. It allows users to have multiple accounts (called “purses”) with different types of currencies that allow easy deposits and withdrawals to your account.
2. Skrill. This is one of the leading providers of global payment solutions that’s available in 40 currencies. It has quick payment methods with stored cards on your account balance. It also lets you withdraw funds using ATM withdrawals or by moving the money into your bank account.
3. Neteller. This is an online financial service that streamlines online payments and money transfers. Aside from making secure payments, it also allows funds withdrawal from your bank account or by accessing ATMs around the world.

4. Bitcoins

The latest addition to IQ Option’s deposit methods is Bitcoins. Bitcoin is a form of digital “currency” and an example of cryptocurrency (produced by businesses and people around the world from advanced computer software). You can take a look into our article, What is Bitcoin, to learn more about this more advanced type of currency.

How to top up your trading balance using Bitcoins:

1. Open the Deposit tab and choose your deposit amount.
2. Unfold the payment methods on the list (found on the right) and pick “Bitcoin.”
3. After clicking “Proceed to Payment,” you’ll be forwarded to the Cubits—the processing provider—payment page.
4. Check the invoice amount and its BTC equivalent. (Confirmation of the transaction only lasts for 15 minutes. If you don’t confirm it, the invoice will simply expire.)
5. IQ Option will add the funds to your balance after Cubit verifies your payment, which is done immediately after your confirmation.

Choose the Safest and Most Convenient Deposit Method

These four methods of depositing money in IQ Option should suffice to most users. Obviously, each has its pros and cons and thus, you must choose the method most convenient for you. While you probably own a credit card, you might still want to use wire transfer because it helps you avoid overspending. Alternatively, eWallet is fast and hassle-free as well. So, the choice is ultimately up to you.

However, no matter the method you choose, you must always ensure safety. For instance, wire transfer takes quite some time but is deemed very safe which makes it ideal for transferring a large sum of money. 

Of course, depositing money is only one side of the card. You will also have to withdraw it, and you’d want to do it safely. Not being able to get your money because of technicalities is one of the worst scenarios. That’s why to help you with that, check our article covering how to withdraw money from IQ Option.

By Daniel Epstein

Daniel Epstein is a senior financial research analyst at FinancesOnline and the architect behind our Fintech and ERP content division. His main areas of expertise are blockchain technologies, cryptocurrencies, and the use of biometrics in fintech solutions. His work has been frequently quoted by such publications as Forbes, USA Today, Entrepreneur, and LA Times. With more than 1,800 solutions scrutinized in the last 5 years spent on our team he always prioritized offering readers an unbiased perspective on modern financial technologies.