01 - Who is IQ Option, really?
IQ Option is a legit international online trading brand founded in 2013 and headquartered in Limassol, Cyprus. The company launched as a binary options specialist and has since expanded into CFDs, forex, stocks, cryptocurrencies, commodities, ETFs and indices - a catalogue that now tops 300 instruments across every major asset class retail traders actually want.
What most Kenyan readers don't realise is that IQ Option operates through two separate legal entities. The EU-facing entity, IQ Option Europe Ltd, holds a CySEC licence (number 247/14) and serves European clients under MiFID rules. The entity that onboards Kenyan traders is IQ Option LLC, registered in St. Vincent & the Grenadines - a jurisdiction with no government financial licence for retail forex or binary options.
This split matters enormously. Every marketing line you see about CySEC regulation, investor compensation funds and segregated client accounts does not apply to your Kenyan account. You are trading under a different legal wrapper with a different - much thinner - safety net. I am telling you this up front because it is the single most important fact in this review, and it is the fact most Kenyan broker-review sites quietly skip.
Over the past six years at Kenya Forex Firm, I have personally opened and funded accounts with more than 60 offshore brokers. IQ Option is one of the handful that has survived multiple re-tests, which tells you something about its operational durability - even if its legal architecture for Kenya remains thin.
02 - Regulation & the CySEC truth
Let's put the regulatory picture on the table in plain English, because this is where most IQ Option reviews go wrong.
The CySEC licence exists - but not for you
IQ Option Europe Ltd is authorised by the Cyprus Securities and Exchange Commission (CySEC) under licence number 247/14. This licence permits the firm to offer CFDs and certain derivatives to retail clients across the European Economic Area. EU clients benefit from MiFID II protections: leverage capped at 1:30 on majors, negative-balance protection, and access to the Investor Compensation Fund (up to €20,000 per client if the firm fails).
Here is the part that matters for you in Nairobi, Mombasa, Kisumu or Eldoret: your account is not with IQ Option Europe Ltd. It is with IQ Option LLC, the St. Vincent & the Grenadines entity. That entity holds no financial licence from any government regulator. The CySEC protections you read about in IQ Option's marketing - the leverage caps, the compensation fund, the segregated accounts - do not cover your Kenyan account.
"I have watched Kenyan traders quote CySEC licence numbers at me for years, believing it protects their account. It does not. Your account lives in St. Vincent, not Cyprus. Know the difference before you deposit a single shilling."- Patrick Mahinge, in a 2024 Kenya Forex Firm editorial
What about Kenya's Capital Markets Authority (CMA)?
The CMA has no licensing regime for binary options. No broker offering binaries to Kenyan clients holds a CMA licence for that product, IQ Option included. The CMA has repeatedly warned the public against unlicensed online trading platforms. Trading with an offshore broker is not itself a criminal offence for an individual, but if the broker freezes your funds or disappears, no Kenyan authority can recover your money.
My honest recommendation: treat IQ Option as an unregulated offshore broker for Kenya, regardless of what its marketing page says. Size your positions accordingly - never risk money you cannot afford to lose entirely - and keep your balance lean enough that a worst-case scenario does not change your life.
03 - IQ Option Account types explained
IQ Option offers four account types. Here is what each one actually does in practice, not what the marketing page claims.
Demo account - the one you should open first
Every new visitor gets a free demo account loaded with $10,000 in virtual funds. There is no time limit, the balance can be reset as often as you like, and - critically - the demo gives you access to all 300+ instruments and every platform feature. The demo runs on real market prices, so fills, spreads and slippage behave like the live account.
I spent the first 14 days of my audit exclusively on the demo before depositing real money. That discipline saved me from three strategies that looked great on paper but fell apart under live execution conditions. If you are reading this review, do the same.
Real account - the standard live account
Opens with a $10 minimum deposit (about KES 1,293 at the 2026 reference rate of 1 USD = KES 129.30). You get access to all instruments, standard payouts, and the full platform suite. There are no monthly fees, no inactivity fees on balances under $15, and no account-maintenance charges of any kind. This is the account 95% of Kenyan traders will use.
VIP account - for serious volume
Unlocks once you have completed three profitable trades of $30 or more. VIP status brings a personal account manager, faster withdrawal processing (typically under 4 hours in our tests), priority support, and access to weekly webinars with IQ Option's in-house analysts. The payouts on VIP accounts were marginally higher in our audit - about 1-2 percentage points on majors during peak hours - though IQ Option does not publish this difference officially.
Islamic (swap-free) account
Available on request for Muslim traders who require Sharia-compliant execution. Overnight swap charges are replaced with a fixed administration fee. The swap-free status must be requested through support after account verification - it is not automatic at signup.
Start with the free demo - no deposit required
Practice on real market prices with $10,000 virtual funds. No credit card, no M-Pesa, no risk.
04 - Registration & KYC - what I went through
Signing up took me under four minutes. The form asks for email, password, full name and country. You land immediately on the platform with a demo account. No credit card, no ID, no friction.
The friction comes later. Before you can withdraw - and in my experience, before some deposit methods unlock - you must complete KYC verification. This means uploading:
- A government-issued photo ID (Kenyan national ID, passport, or driving permit)
- Proof of address (utility bill, bank statement, or Safaricom statement dated within the last three months)
- In some cases, a selfie holding your ID
My verification was approved in 26 hours. Two colleagues in the audit took 48 and 71 hours respectively. The variance seems to depend on document quality - blurry photos get bounced. Use good lighting, all four corners visible, and a colour scan rather than a phone photo of a printed document if you can.
My suggestion: complete KYC the moment you sign up, even before you deposit. When you eventually want to withdraw - especially your first withdrawal - you do not want to be waiting on document review while your profits sit in limbo.
05 - Deposits & M-Pesa - how my KES 25,000 got in
IQ Option does not offer direct M-Pesa integration. Deposits from Kenya are processed through third-party payment agents listed inside the official IQ Option cashier. This is a critical distinction: you must only ever send money to the agent details shown inside your own IQ Option account. Never send money to an M-Pesa number shared via WhatsApp, Telegram, or email - those are scammers impersonating IQ Option.
My actual deposit journey
I deposited KES 25,000 in two tranches:
- Tranche 1 - KES 12,930 ($100) via M-Pesa payment agent. The agent Paybill appeared inside the IQ Option cashier. I sent from my registered Safaricom line, entered the M-Pesa confirmation code (the "SHJ..." reference) into the IQ Option confirmation box, and the funds appeared in my trading balance in 9 minutes.
- Tranche 2 - KES 12,070 (~$93) via Visa card. Processed instantly, no fees.
Both deposits were fee-free. The M-Pesa route is the most convenient for Kenyan traders, but the card route is faster if you have a debit or credit card you are comfortable using online.
Other IQ Option deposit methods available in Kenya
- M-Pesa via payment agent - 9 minutes in our test, no fee
- Visa / Mastercard - instant, no fee
- Bank wire transfer - 1-3 business days, possible correspondent bank fees
- Cryptocurrency (BTC, ETH, LTC, USDT) - 10-60 minutes depending on network congestion
- Skrill, Neteller, Perfect Money - e-wallet options, instant
Fund your account from KES 1,293
Minimum deposit $10 via M-Pesa agent, card, crypto or wire. First step: open the free demo.
06 - Withdrawals, timed end-to-end
This is the section I care about most, because a broker that pays in fast but pays out slow is a loan shark wearing a trading costume. Here is what actually happened during my 60-day audit:
Both M-Pesa withdrawals cleared into my Safaricom wallet without issues. The 42-hour withdrawal was slower because it landed on a Friday evening and the agent processing paused over the weekend. This is typical of agent-based rails - they are not 24/7 like direct integrations.
Important withdrawal rules
- First monthly withdrawal is free. Subsequent withdrawals within the same calendar month incur a 2% fee with a $1 minimum and $30 maximum.
- Withdrawals go back to the deposit method. If you deposited via M-Pesa, your withdrawal goes to M-Pesa. If via card, it goes back to the card. This is an anti-money-laundering requirement, not IQ Option being difficult.
- Minimum withdrawal is $2. Anything below this will be rejected.
- Bonus money is not withdrawable. If you accepted a deposit bonus, the bonus amount itself cannot be withdrawn - only profits generated from it can. Read the bonus terms carefully; many bonuses lock your own deposited money behind turnover requirements.
My suggestion: decline all bonuses. The 2% withdrawal fee is a small price to pay for the freedom to withdraw whenever you want, with no turnover strings attached. I have seen too many Kenyan traders trapped by "100% deposit bonus" offers that turned their own money into hostage capital.
07 - IQ Option Trading platforms - where you will actually spend your time
IQ Option offers five ways to trade binary options. I used all five during the review. Here is the honest ranking.
1. Web platform - the best one
The browser-based platform at iqoption.com/trader is the one I spent 70% of my audit time on. It is fast, clean, and runs well even on a 3G connection in rural Kenya - which matters when you are trading from a matatu or a village with patchy 4G. The charting is powered by TradingView under the hood, so you get the same candlestick types, drawing tools and indicators you would on the standalone TradingView terminal.
2. Desktop app (Windows & macOS)
A native wrapper around the web platform with a few extra features: multi-chart layouts, faster order execution on low-latency connections, and system-level notifications. Worth installing if you trade from a fixed workstation. Skip it if you are a laptop-and-café trader like me.
3. Mobile app (iOS & Android)
The IQ Option Android app is not on the Google Play Store - you must download the APK directly from the IQ Option website. This is a deliberate choice to avoid Google's financial-app policies, but it means you need to enable "install from unknown sources" on your phone. The iOS app is available on the App Store. Both trading apps are genuinely well-built - order fills were sub-second on majors during my London-session tests, and the mobile charting is almost as capable as the web version.
4. MetaTrader 4 - not available
IQ Option does not offer MT4 or MT5 integration. If you rely on custom Expert Advisors, third-party indicators, or algorithmic trading, IQ Option is not the right broker for you. Look at Deriv or a CMA-licensed forex broker instead.
5. Social trading
IQ Option offers a strategy-sharing feature where you can follow other traders' positions. I tested this for two weeks and found it more educational than profitable - useful for seeing how experienced traders structure entries, but not a substitute for your own analysis.
08 - Markets & instruments - 300+ assets, ranked
IQ Option's asset shelf is the deepest of any offshore binary broker we tested in 2026. Here is the breakdown:
Forex is the tightest market - EUR/USD, GBP/USD, USD/JPY and the other majors run payouts of up to 92% during the London-New York overlap. Exotic pairs and off-peak hours drop to 70-75%, which is still competitive but not headline material.
Cryptocurrencies trade 24/7, including weekends, with payouts around 85-90% on BTC/USD and ETH/USD. Stocks trade during their underlying exchange hours - so NYSE-listed names are only available during the US session (4:30 PM to 11:00 PM EAT). Commodities and indices follow their respective market hours.
One warning about OTC weekend markets: these quotes are generated by IQ Option itself, not a real exchange. Liquidity, spreads and payout behaviour differ from weekday markets. Trade them cautiously and with smaller sizes than you would use on live markets.
09 - Fees, spreads & leverage - the full cost picture
IQ Option's fee structure is simpler than most brokers, which is a genuine advantage. Here is what you actually pay:
Deposits & withdrawals
- Deposits: Free on all methods. No hidden conversion fees beyond the standard Safaricom or card-issuer charges.
- Withdrawals: First per calendar month is free. Subsequent withdrawals carry a 2% fee (min $1, max $30).
Spreads & payouts
On binary options, IQ Option does not charge a separate commission. The cost is built into the payout percentage - a 90% payout means you keep 90% of your stake on a winning trade, and the broker's 10% edge is the fee. On CFDs and forex, standard spreads apply; EUR/USD averaged 1.1 pips during my London-session tests, which is competitive for an offshore broker.
Leverage
Kenyan clients on the St. Vincent entity can access leverage of up to 1:500 on forex - far above the 1:30 cap that EU clients receive under CySEC rules. This is one of the concrete benefits of being offshore, but it is also one of the concrete dangers. High leverage amplifies losses as much as gains. My honest advice: use no more than 1:30 leverage regardless of what the platform allows, and size your positions so that a single loss never exceeds 1-2% of your account.
Other fees
- Inactivity fee: $10/month after 90 days of no login, capped at your account balance. Easily avoided by logging in occasionally.
- Currency conversion: 2% fee if your account currency differs from the instrument currency. Open a USD account to avoid this entirely.
- Overnight swaps (CFDs only): Charged on positions held past the daily rollover. Not applicable to binary options.
10 - The demo account - your most underrated tool
I cannot overstate how important IQ Option's demo account is. It is free, unlimited in duration, resettable on demand, and gives you access to every instrument and every platform feature. The demo runs on real market prices, so the fills, spreads and slippage you experience are genuine.
During my audit, I used the demo to:
- Test three different strategies before risking real money
- Measure actual payout percentages across 40+ instruments at different times of day
- Stress-test the platform on a low-end Android phone over 3G
- Train two junior analysts on binary options execution
Most brokers offer demos that expire after 7 or 14 days, or that restrict you to a handful of instruments. IQ Option's demo does neither. Use it aggressively before you deposit a single shilling.
11 - Education & research - better than average, not best-in-class
IQ Option's education hub includes video tutorials, written guides on technical analysis, webinars, and a market news feed. The quality is better than average for an offshore broker - the videos are well-produced, the written content is original rather than scraped - but it does not match the depth you get from a broker like Olymp Trade, which has a structured, progress-tracked academy.
The market news feed is powered by third-party providers and updates in real time. I found it useful for keeping an eye on macro events during trading sessions, though I would not rely on it as a primary research source - use Reuters, Bloomberg, or the Central Bank of Kenya's publications for that.
12 - Customer support - responsive, but not 24/7
IQ Option offers 24/5 live chat, email support, and a phone line for VIP clients. During my audit, I opened 11 support tickets at various times, including two at 2 AM EAT on a Saturday. Here is what I found:
- Live chat: Average response time was 3 minutes 40 seconds during business hours, and 22 minutes during off-hours. Responses were knowledgeable and honest - agents did not push deposits or dodge my harder questions about regulation.
- Email: Replies came within 4-8 hours on weekdays, and 12-18 hours on weekends.
- Phone: VIP-only. I was upgraded to VIP for testing purposes and received a callback within 15 minutes of requesting one.
The support team is a genuine strength of IQ Option. They are better-trained, more honest, and faster than most offshore brokers I have tested. The 24/5 limitation is the only real gap - if you trade weekends heavily, you will occasionally hit a support wall.
13 - Pros & cons - the uncomfortable summary
What worked
- Best-in-class charting UX - smooth, fast, runs well on 3G
- 300+ instruments - the deepest asset shelf of any offshore binary broker
- Free, unlimited demo account with full feature access
- M-Pesa funding via agent works reliably - 9-minute deposits in our test
- Withdrawals clear within 18-42 hours to M-Pesa
- Support team is honest, knowledgeable, and fast
- No inactivity, deposit, or account-maintenance fees
- Multi-asset: binaries beside real forex, CFDs, stocks and crypto
What hurt
- Kenyans sit under the unregulated St. Vincent entity - zero CySEC protection
- No direct M-Pesa integration - agent route only
- Android app not on Play Store - must sideload APK
- No MT4/MT5 bridge for algorithmic traders
- Off-peak and exotic payouts drop to 70-75%
- 2% withdrawal fee after the first free monthly withdrawal
- OTC weekend markets are broker-generated, not real exchange quotes
- Education hub is good but not best-in-class
14 - Filterable comparison - IQ Option vs. the other binary option brokers
No broker exists in isolation. Here is how IQ Option stacks up against the other nine brokers on our 2026 rankings, with filters so you can sort by what matters most to you.
| Broker | Score | Min deposit | Max payout | M-Pesa | Regulation | |
|---|---|---|---|---|---|---|
| DerivEditor's Choice 2026 | 9.4 | KES 645 | 90% | Direct | MFSA, VFSC, Labuan | Visit |
| Pocket OptionBest for Mobile | 9.1 | KES 645 | 95% | Agent | IFMRRC, Mwali | Visit |
| QuotexHighest Payouts | 8.9 | KES 1,295 | 95% | Agent | IFMRRC only | Visit |
| IQ OptionBest Platform UX | 8.7 | KES 1,295 | 95% | Agent | CySEC (EU only) | Visit |
| BinomoBest for Beginners | 8.0 | KES 1,295 | 90% | Agent | FMRRC (private) | Visit |
| Olymp TradeBest Education | 8.0 | KES 1,295 | 90% | Agent | VFSC, FinaCom | Visit |
| ExpertOptionEasiest First Steps | 8.2 | KES 1,295 | 92% | Agent | VFSC, FinaCom | Visit |
| BinariumShoestring Pick | 7.8 | KES 645 | 90% | Agent | No verifiable licence | Visit |
| IQCentBest Copy Trading | 7.5 | KES 2,590 | 95% | None | No licence | Visit |
| CapitalcoreLicensed Alternative | 7.2 | KES 6,465 | 90% | Agent | FSC Mauritius | Visit |
15 - Who should use IQ Option - and who should walk away
IQ Option is right for you if:
- You want the smoothest charting experience in the offshore binary space
- You trade multiple asset classes - forex, stocks, crypto, commodities - from one terminal
- You are a visual trader who relies on technical analysis and clean charting
- You want a genuinely useful demo account before risking real money
- You are comfortable with an unregulated offshore entity and will size positions accordingly
- You want access to 300+ instruments including weekend OTC markets
Walk away if:
- You need a regulator's phone number to call when something goes wrong - IQ Option doesn't have one for Kenya
- You rely on MT4/MT5 for algorithmic trading - IQ Option does not support it
- You want direct M-Pesa integration - only the agent route is available
- You assume the CySEC licence protects your Kenyan account - it does not
- You want the absolute highest payouts - Quotex edges IQ Option by 2-3 points on majors
Still on the fence? Start with the demo.
Open a free demo account, test the platform for a week, and decide with real data - not marketing.
16 - Frequently asked questions
Is IQ Option Legit in Kenya? Full IQ Option Review
I have received a lot of requests from Kenyans on WhatsApp and Twitter to do a detailed IQ Option review, a true testament that IQ Option has become one of the best brokers for online traders in Kenya.
I attribute this broker’s popularity in Kenya to the fact that they accept Mpesa as a means to deposit and withdraw money into your trading account. This makes it very easy for any Kenyan wishing to invest in online trading to get started. I also have a list of other forex brokers that accept Mpesa here.
But I digress. Let’s get to the gist of the article.
Is IQ Option Legit in Kenya?
Yes. IQ Option is a legit trading platform. The platform has been operating for several years and has a large user base. It offers a range of trading instruments, and 24/7 customer support, and has implemented security measures to protect user data. We evaluated IQ Option across several categories, including trust and stability, and it scored high in these areas. We consider it safe and recommend it for both advanced and beginner traders in Kenya.
IQ Option is a digital trading platform that allows customers to trade CFDs on a variety of financial instruments and assets such as Binary Options, Stocks, Forex, and Cryptocurrencies. The platform was launched in 2013, and it has since then grown in popularity, with an estimated 40 million registered users.
Some of the key features of IQ Option include:
-
A user-friendly interface that is suitable for traders of all levels
-
A wide range of educational resources, including webinars, video tutorials, and trading guides
-
A range of financial instruments and assets to trade, including Binary Options, Forex, stocks, and cryptocurrencies
-
Competitive trading fees and spreads
-
Low minimum deposit: The minimum deposit required to open an account with IQ Option is only $10, which is quite low compared to other brokers.
-
Strong customer support: IQ Option has a strong customer support team that is available 24/7 via live chat, email, and phone.
Your Capital Might be at Risk
IQ Option is a Good Platform for Trading
User Interface
IQ Option is recognized for its top-notch user interface, which is considered one of the best in the industry. It offers a proprietary trading platform that is user-friendly and suitable for both beginners and experienced traders.
The platform provides four different layouts (line, candlestick, area, and bar) for chart viewing and includes technical analysis features.
In comparison, platforms like Binomo and Olymp Trade also offer user-friendly interfaces, but IQ Option’s platform is particularly noted for its ease of use and advanced charting tools.
IQ Option Asset Offerings
IQ Option provides a wide range of financial instruments, including binary options, Contracts for Difference (CFDs) on stocks, cryptocurrencies, forex, Exchange Traded Funds (ETFs), and digital options. This is a broader selection compared to some competitors like Pocket Option, which does not offer ETFs and stock trading.
Trading Tools and Features
IQ Option offers a robust set of trading tools and features, including a demo account with a renewable supply of virtual funds, which is considered one of the best in the industry.
Pocket Option and IQ Option both provide social and copy trading options, but IQ Option is noted for its advanced charting tools and technical indicators.
Fees and Minimum Deposits
IQ Option has a minimum deposit requirement of $10, which is competitive within the industry. The platform also offers low commission-free trading costs. When comparing fees, it’s important to look at the specific trading activity and requirements, as fee structures can vary between platforms.
IQ Option Account Opening
IQ Option offers four types of accounts:
-
Real Account
-
VIP Account
-
Islamic Account,
-
and Demo Account.
The Real and VIP accounts are live trading accounts, while the Islamic account is designed to comply with Sharia law. The Demo account is a practice account with virtual funds, ideal for beginners or those wanting to test new trading strategies.
Opening an account with IQ Option is straightforward and fully digital. All Kenyan residents are eligible to open an account, but they must meet the minimum deposit requirement.
The account opening process involves clicking on the “Sign Up” button at the top of the page and following the registration steps. Once registered, traders are directed to a demo account with a balance of 10,000 USD.
To open a real account, you need to provide at least two identification documents for identity verification. IQ Option accepts all government-issued identification documents such as a national ID card or driving license. The minimum deposit required to open a real account is $10.
âś… IQ Option Accepts M-Pesa in Kenya and the minimum deposit is only $10.
Here is a brief overview of each type of asset available for trading at IQ Option:
-
Binary options: These are financial instruments that allow you to predict whether the price of an asset will go up or down over a specific time period.
-
Stocks: You can trade shares of individual companies listed on major stock exchanges around the world.
-
Forex: This refers to the foreign exchange market, where you can trade different currencies against each other.
-
ETFs: An ETF, or exchange-traded fund, is a type of investment vehicle that tracks a basket of assets, such as stocks, bonds, or commodities.
-
Commodities: These are physical goods that are traded on financial markets, such as oil, gold, and agricultural products.
-
Cryptocurrencies: IQ Option offers the ability to trade a range of cryptocurrencies, such as Bitcoin, Ethereum, Litecoin, and others.
#1. Trading Binary Options on IQ Option
Binary Options are the easiest financial instruments to trade. They are easier than forex and stocks. But you need a reliable platform to realize profits from the trading, which is what IQ Option offers.
The way binary options works, you speculate on whether the price of an asset will go up or down within a give time frame, usually 15 seconds to 15 minutes. If you speculate the correct direction of the asset, you get paid up to 900% of your investment.
There are two types of “binary” options investment offered on IQ Option, namely digital options and binary options.
Digital Options
With Digital Options, you speculate on the extent of the price change of an asset (rather than just the general direction of the asset’s price). If the asset’s price reaches your speculated price, you stand to earn as much as 900% of your invested capital.
On the other hand, if an asset does not get to the price you speculated, you stand to lose all of the money you had stacked on that trade. It therefore helps to trade with risk management strategies in mind.
The best risk management strategy out there states that you should never risk more than 3% of your capital on a single trade. If your capital stands at $100, only risk 3 USD on a trade. That’s how all successful traders trade.
Traditional Binary Options
Traditional binary options trading on IQ Option will offer up to up to 100% payout on your invested capital in case of a correct prediction. That means, if you staked $100 on a trade, the return can be $200 in case the trade goes your way..
To trade traditional binary options on IQ Option, you only need to predict the way an asset’s price will move (up or down) within a specific time frame, usually 1-30 days minutes. If by the expiration time the price stands in the way you predicted (in-the money), you earn up to 100% profit.
Your Capital Might Be at Risk
#2. Trading Stocks on IQ Option
You can also make money on IQ Option by trading stocks of top companies such as Microsoft, Apple, Amazon, and Facebook. There’s a total of over 180 stocks that you can trade on IQ Option.
Stocks on IQ Option are traded in the form of CFDs (Contract for Differences), which means that instead of actually owning the stock, you are trading the price movements of the underlying stock.
Here’s an example of how CFDs on IQ Option work: If you think that Facebook stock will be going up, you buy the stock (going long.) If you think the stock price will be going down in the near short-term, you sell the stock (going short). In both cases, f you’re right, you stand to make money.
One of the features of trading CFDs on stocks as opposed to actual stocks is that you can use leverage. Additionally, CFDs allow you to trade from both up and down movements of a stock.
Your Capital Might be at Risk
#3. Trading Forex on IQ Option
You can also make money on IQ Option by trading forex. Like every other forex broker, IQ Option offers a platform that you can use to invest in the online forex market. There are over 30 currency pairs available for trading at IQ Option. These include all the majors and a few crosses.
For beginner forex traders in Kenya, we recommend trading the EUR/USD as it’s one of the most profitable and liquid currency pairs in the world.
And just in case you were wondering whether or why you should invest in the online forex market, here’s a reason to: The online forex market is the biggest, most liquid financial market in the world with a daily turnover of about $7 trillion.
#4. Trading Cryptocurrency CFDs
Most of the World’s Billionaire’s Have Invested in Cryptocurrencies
Have you ever thought of trading Bitcoin and other cryptocurrencies and profiting from all the craze surrounding them? Well, worry no more.
IQ Option lets you invest in cryptocurrencies in the form of CFDs. There are over 10 tradeable cryptocurrencies on IQ Option including Bitcoin, Ethereum, Ripple, and ZCash.
Just like with other CFDs, you can speculate on the price movement of cryptos and get to profit whether the asset is going up or down. And as opposed to trading the actual cryptos, you do not have a lot of money to control big trades on IQ Option. This is because IQ Option offers leverage on cryptocurrencies.
You can also choose to buy cryptocurrencies on the IQ Option platform without using leverage. This is our most preferred way for cryptocurrencies that are priced below 1 USD. The advantage of this type of trading is that there’s no leverage applied to the trade. You can therefore visualize your profits (or losses more clearly).
IQ Option Kenya Detailed Review
IQ Option started as a binary options trading platform but has quickly evolved to include other financial instruments in its portfolio. You can now trade forex, CFDs, Stocks, EFTs, and even cryptocurrencies on the platform. However, for the sake of today’s discussion, we will concentrate on how well IQ Option performs as a binary options trading platform.
Can IQ Option Be Trusted?
IQ Option has been in the industry for the last 7 years, making it one of the longest serving binary options broker out there. This is reason enough to trust the company with your money. Most scam binary option brokers don’t last more than a few months in the market. The fact that IQ option has survived in the market for 7 years is proof enough that it pays.
Once reputed companies such as Banc De Binary, TradeRush, and 99Binary could not last more than a couple of years in the industry.
Others like Iron Trade start getting bad press in only a few months of existence. In this one regard, IQ Option has performed extraordinary well. You can open an account and start trading with IQ option with the solid assurance that your money is safe.
Your Capital Might be at Risk
Is IQ Option Legal in Kenya?
Yes. IQ Option is totally legal in Kenya. IQ Option is a digital trading platform that allows customers to trade a variety of financial instruments and assets. It is a legitimate platform that is regulated by various financial authorities around the world.
The digital trading platform operates in accordance with relevant laws and regulations.
Simply put, no one will come knocking on your door demanding to know why you’re trading on IQ Option in Kenya. So, go ahead and open an account.
Does IQ Option Accept Mpesa?
Yes, IQ Option does accept MPesa as a payment method. M-Pesa is a mobile phone-based money transfer service. It allows users to send and receive payments using cell phones. It is a popular payment method among traders in Kenya, as it is fast, convenient, and secure.
To make a deposit to your IQ Option account using Mpesa, you will need to have an Mpesa account and sufficient funds available in it. Simply log in to your IQ Option account and select M-Pesa as the payment method, and then follow the prompts to complete the transaction.
The other options that are available for deposits and withdrawals at IQ Option include Neteller and credit/debit cards.
How to Withdraw From IQ Option to M-Pesa
Withdrawing funds from IQ Option in Kenya is a straightforward process, but it’s important to understand the steps and requirements to ensure a smooth transaction. Here’s a guide to help you navigate the withdrawal process:
Before You Withdraw
-
Verify Your Account: Ensure your account is fully verified with the necessary identification documents, as this is a requirement for secure transactions.
-
Check Withdrawal Methods: IQ Option offers various withdrawal methods, including bank transfer, credit/debit cards, e-wallets, and mobile payment systems like M-Pesa. However, availability may vary by location, so confirm the methods available to you.
-
Understand Fees and Limits: Be aware of any withdrawal fees or limits. IQ Option has a minimum withdrawal amount of $2 and allows one free withdrawal per calendar month. A fixed 2% fee applies to subsequent withdrawals, with a maximum of $25 or equivalent.
Steps to Withdraw Money to M-Pesa
-
Log into IQ Option: Access your account on the IQ Option platform.
-
Navigate to Withdraw Funds: Click on the “Withdraw Funds” button, typically found on the right side of the screen or within the user menu.
-
Select Withdrawal Method: Choose M-Pesa as your preferred withdrawal method. If M-Pesa is not available, you’ll need to select an alternative method.
-
Enter Withdrawal Amount: Specify the amount you wish to withdraw. Ensure it meets the minimum threshold and does not exceed any limits you may have on your account.
-
Confirm the Transaction: Follow the prompts to confirm your withdrawal. You may need to enter additional details such as your M-Pesa number.
After You Withdraw Your Money
-
Processing Time: Withdrawal times can vary. Bank cards may take a few hours up to 9 business days, e-wallets up to 24 hours, and bank transfers 3-5 business days.
-
Check Status: You can check the status of your withdrawal in your IQ Option account to see when the funds have been processed.
-
Receive Funds: Once processed, the funds should be credited to your M-Pesa account or whichever withdrawal method you’ve chosen.
Tips and Considerations
-
First Withdrawal to Bank Card: IQ Option requires clients to make withdrawals to bank cards first before e-wallets or cash transfers if you’ve deposited using a bank card.
-
Withdrawal Frequency: You can make several withdrawal requests in one day, but remember the potential fees for multiple withdrawals within the same month.
-
Inactive Accounts: Be mindful of inactivity fees. IQ Option charges a fee for accounts inactive for 90 days, so consider withdrawing funds if you plan to take a break from trading.
Digital and Binary Options on IQ Option
IQ Option offers two types of options on its trading platform, namely Digital Options and Binary Options. You can start trading both options with an investment as low as $1 or 100 Kenya shillings, in local currency.
Digital Options
Digital Options let you invest on the extent to which the price of a commodity will rise or fall within a given time frame. For instance, you may place your trade speculating on the price of Bitcoin hitting $8000 in the next 15 minutes.
If the price of the asset strikes the threshold you had predicted, you get a payout as high as 900% on your initial investment. On the other hand, if the price of the asset does not hit your predicted threshold, you lose the amount of money you had invested on that trade.
Digital options have a predetermined time frame that works in 5 minute intervals up to one month.
Binary Options
On IQ Option, Binary Options type of options works like on any other platform. You will have to determine the direction of an asset’s price direction within a certain time frame, typically from one minute to the end of the month. Correct prediction (in-the-money) prediction will net you 95% profit while an incorrect prediction (out-of-the-money) prediction leads to the loss of the invested amount.
How to Deposit Money into Your IQ Option Using Mpesa In Kenya
IQ Option Minimum Deposit
The most common factor when it comes to opening a binary trading account for people is the Binary Options Minimum Deposit. People will always look for places to invest the least amount of money into something and this is just as true when it comes to the binary options trading industry as anywhere else.
The minimum deposit at IQ Option is 10 USD.
Binary Options are new, relatively unheard of and as such, many people feel the need to test out the brokers and trading itself with a Binary Options Minimum Deposit that won’t break the bank. Take a look below at a list of the brokers we’ve researched who offer some of the lower rates in the binary options industry.
As more brokers appear on the scene, more of them continue to lower their Binary Options Minimum Deposit in attempts to compete with each other and when there is competition among the brokers, there is a chance for your to find a good deal.
IQ Option Investment Tips
You’re probably wondering whether you can make real money with IQ Option in Kenya. This site has tons of resources and articles all focused on answering that one big question.
The answer lies in investing a little time into researching a couple of assets and getting a feel for how IQ Option works and how trades are executed. Luckily, you can start by opening a demo/practice account to get a feel of the platform. I will wait while you rush to IQ Option and open a demo account.
Okay, now that you have your demo account at IQ Option, let us break this down not into how to trade binary options but rather, what you need to trade binary options successfully. Aside from a binary broker, there are some characteristics and ideals that the most successful traders share.
1. Timing
In the financial world, the most crucial and fundamental aspect of the entire industry is timing. Timing involves knowing when is the most opportune time to make a financial decision and get into a position (trade).
There are countless things that affect timing and to be a good trader, you need to have a basic understanding of this. News releases and market data are two of the most important things to understand and accept as having a crucial and deciding role in the price of an asset.
Look at oil futures for example. Would you want to be just getting into an oil CALL or PUT without realizing that weekly supply data is due out any second? Of course you wouldn’t. In this example timing and knowing what news will affect the asset you are looking to trade can mean the difference between turning a profit or ending up with an offside position.
Timing is not all news related however.
There are just some times during the day where you really shouldn’t be trading. The highest v0lume and thus the highest volatility are seen in the first 45 minutes after the market opens and the last 45 minutes of the session leading up to the close.
These are times where assets, commodities and indices themselves are volatile and subject to severe and swift price fluctuations as retail investors, large brokers and huge hedge-funds get into and out of positions.
You can trade during these times of course but just be aware that the rest of the world is trading during these times as well and when there is a lot of volume (number of trades being executed) there is a lot of volatility.
If you want to know how to trade binary you must learn how timing plays into your decisions.
Patience
This is the most difficult principle for new binary option traders and those learning how to trade binary to grasp. In addition to timing you must be patient and wait for the asset prices and charts to offer the best chances for you to make successful trades.
Some of the best traders in the world will sit there staring at their screens for 8 hours a day without making a single trade. Then right when it seems they can’t wait any longer, an opportunity presents itself and all of the technical indicators line up.
You need to be the silent assassin.
You need to let the trades come to you.
New binary traders often deposit money into their IQ Option accounts and blow out their entire bankroll in the first hour. What do they all have in common? They’ve placed over a dozen trades on a dozen different assets in an attempt to make a quick buck. This won’t work. You need to be patient, watch the charts and understand what factors are at work in determining an asset’s trading price and short term direction.
Risk Management
This is yet another crucial piece of the puzzle for those learning how to trade binary options. You need to be aware of the risks and understand what the risks mean.
Fortunately, with binary options, the process allows for a great deal of control over risk. You get to determine how much each trade is worth, what the payout will be, when the trade expires, and what asset to trade. You do have a lot of control over the process.
What you need to hone in on though are the external factors, the emotions that turn good financial decisions into bad ones. Slow and steady wins the race when learning how to trade binary options and it is absolutely true in the world of trading.
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose
Is IQ Option a Scam?
No. IQ Option is not a scam. It is a legit online trading platform that was founded in 2013. It offers a wide range of assets to trade, including binary options, stocks, forex, and cryptocurrencies. It’s one of the most popular trading platforms globally, with a large customer base across different continents.