Is IQ Option Legal in Indonesia? – Review for Indonesian Traders

IQ Option has experienced rapid growth every year since 2013 since it launched its online trading platform. With many industry awards under its belt, IQ has recently stretched its product offerings to include stock trading, binary options trading, ETF trading, and Forex trading.

IQ Option Indonesia offers traders an easy way to trade binary options. Binary options trading is a popular way of trading markets across the globe. Betting is done in what direction a financial asset’s value will increase after a specific interval. 

When you trade binary options, you can stake money on a particular asset’s direction will move once your expiration period ends. Thus, if you are wondering, “Can I trade on IQ Option in Indonesia?” the answer to this would be “Yes” you can.

Your investment could earn you up to 85% of how much you put up if everything runs smoothly. However, it will help if you also keep in mind that there are risks involved as well. For example, you could lose 100% of your capital if the trade doesn’t go your way.

Is IQ Option legal in Indonesia?

If you wonder, ‘Is IQ Option legal in Indonesia?’ Indeed, Indonesia does legalize IQ options. IQ Option is among such trusted brokers. Moreover, most continents of the world are home to IQ Option, including Indonesia. 

However, Binary options can only be traded with the help of a broker. A broker is a company that enables you to make binary options trades on a trading platform. Thus, trading binary options involves using a broker that enables you to make the trades.

This is because it is impossible to trade without this platform. A quick search on the internet is all you need to get some brokers. However, some are not worth trading with. You will lose your trading money if you engage in some of these deceptive activities. Hence, it will help if you choose a broker you can trust.

Regulation in Indonesia

“Otoritas Jasa Keuangan” (OJK), or The Financial Services Authority, regulates the industry. The financial services industry was previously controlled by a distinct agency known as Bapepam – LK for short (Capital Market and Financial Institutions Supervisory Agency) or “Badan Pengawas Pasar Modal dan Lembaga Keuangan.” The OJK was established in 2011 by Act No. 21 of 2011 to monitor and administer the financial services industry as an independent agency free of interference.

The OJK’s key duties include: 

  • To make sure that the financial services industry functions in a rational, systematic, and clear way; 
  • Creating a financial system that can develop slowly and predictably; and 
  • Ensuring that consumers’ and society’s interests are effectively protected.

The OJK regulates the online financial trading business, including binary and FX trading. While there are no explicit limitations against Indonesian traders trading binary options in the country, they are exposed to heavy taxes on the profits they make. 

Furthermore, Indonesian investors are subjected to greater fees than other dealers in other countries. This is for the reason that offshore platforms must use the “Introducing Broker” trade model in order to create a bodily existence in the country.

As a result, it is critical for Indonesian binary options traders to consider the total fees they will incur when choosing a binary options broker with which to sign up. Choosing the wrong broker can rapidly eat up all of your trading income thanks to these ancillary fees levied by brokers and the Indonesian government.

Regulation of IQ Option

A license or registration is not directly required by any Indonesian government authority, nor is IQ Option directly regulated. Despite this, you shouldn’t panic. Its reviews will demonstrate that IQ Option is a credit broker.

Multiple awards have recognized their quality and reliability since 2013. It is a trusted online broker recognized by millions of traders. “IQ Option Europe Ltd,” which is based in Cyprus, has a CySEC license. EEA-based companies can offer their services throughout the EU.

IQ Option LTD supervises the trading accounts of clients outside of the EEA. In St. Vincent and Grenadines, “IQOption Ltd” is an unregulated company and does not operate under regulation.

How to register on IQ Option in Indonesia?

Indonesian residents are unable to directly visit iqoption.com due to changes in limitations imposed by the Indonesian Monetary Authority. Instead, Indonesian traders can go to Id-iqoption.com or use the link below to go to the IQ Option website. Alternatively, Indonesian traders might use a VPN application to access iqoption.com.

IQ Option recently updated its Android app to allow Indonesian traders to log in and use the service. To trade, users only need to download the latest version of the application from Google’s Play store.

Traders from Indonesia who are having trouble accessing the IQ Option can now utilize a VPN to access the platform, thanks to recent improvements.

Review of the trading platform for Indonesian traders

The trading platform is one of IQ Option’s greatest assets. There are mobile and web applications available from IQ Option for traders to access quality trading platforms. Moreover, trading Platforms can be used with relative ease. 

So, if you are a new user and wonder, ‘How can I use IQ Option in Indonesia?’, then IQ Option’s mobile app presents several steps for a trader who uses it for the first time.

You must register to download. Registrants are required to provide their email address and password by default. Accordingly, you can launch the app and starts to use it. Just ensure to use the mobile application in a landscape mode.

Charts

A chart pops up when you open the IQ Option. Since EUR/USD is the most traded forex pair, the EUR/USD chart will be displayed when you open a new account. Your Demo Account comes with a $ 10,000 balance which you can add money to at any time.

There are icons for the markets you are currently tracking at the top of the chart. You can add additional markets by snapping the “+” sign. A short video explains how each new market is traded when you click on it. You can view your live account balance in the upper right corner at any time. The balance is currently $0. A “DEPOSIT” sign is next to it.

Below these icons, you’ll find a time indicator showing the current market time for your local time zone. Next, you can see the “INVEST” button in the box that follows, which indicates how much you intend to risk for each trade. 

You are allowed to risk a minimum of $1 per trade by default. Two big signs bearing green letters that read “PUT” and red letters that say “CALL” follow it. CALL means Sell, while PUT is Buy.

Chart types and timeframes are customizable by selecting the icons at the bottom of the chart.

Profile

A three-dimensional icon in the bottom left corner opens your account profile, where you can change your personal information. Under that are icons for Withdrawal, Deposit, Trading History, Support, Settings, Terms, and Conditions.

Portfolio

You can see your Trading Portfolio below the Profile icon, along with all your closed trades and those you have active.

Market Analysis

Market Analysis has a calendar-like icon that displays real-time news that could affect markets worldwide.

Price Movements

An icon with a bell-like shape leads you to Moves and Alerts. The Moves side displays any assets that have been affected by significant price movements. The Alerts side provides you with price occurrence notices.

Chats

A chat button resembles a message. It means you can communicate with customer service around the clock through a live chat button. Besides this, the English section, Forex, Stocks, and Crypto chat rooms are also available.

Video Tutorials

The next icon is a video-like icon that opens up educational resources, including basic trading principles, CFD trading, and fundamental analysis.

Despite their availability, you need to reach a $300 trading turnover to use these chat rooms. However, you are still able to view other traders’ chat rooms.

Deposit money in Indonesia

If you open an account with IQ Option, the minimum deposit amount you can commit is determined by the type of account you choose. However, there are two types of IQ Option trading accounts available to Indonesian residents. The “Real,” ‘normal’ and VIP accounts each have their minimum deposit amounts.

There are many options available to you when it comes to depositing and funding your live account. 

The payments methods available in Indonesia are:

  • Credit card/ Debit card (VISA /MasterCard/Maestro). 
  • Web Money WME
  • Web Money WMZ
  • AstroPay
  • Neteller
  • Skrill
  • Perfect Money
  • Qiwi

After you choose the payment method, deposit money and hit the “Proceed to Payment” button. And your fund will be deposited instantly to your IQ option trading account.

IQ option allows the local exchange, the Indonesian Rupiah or IDR. The minimum fund deposit needed is 100000 IDR.

Withdrawal money in Indonesia

If the same question heads up to your mind, Can I withdraw money from IQ option in Indonesia?” The funds that you deposited within the past 90 days may be withdrawn. However, you must use the same credit card as when you deposited. Depending on the bank, this process may take some time. 

The funds get directly deposited into your bank account. However, the transfer from the bank to your account may take up to 21 days (3 weeks). 

The funds you deposited through an e-wallet can be immediately withdrawn back to the same e-wallet account (AdvCash only works for deposits and withdrawals, so if you used another electronic wallet for a deposit, you would be able to withdraw those funds as well). 

Likewise, if wire transfers were used for your deposit, you would be able to use the same method to withdraw money. In addition, you will be credited with your funds within three business days if you make a payment using your e-wallet or wire transfer.

Other withdrawal methods include wire transfer or e-wallet (Webmoney, Skrill, and Neteller).

Here’s how to get your money out of IQ Option instantly.

  • Go to IQoption.com
  • Log into your account
  • Select the user by clicking the upper-right corner
  • Click “Withdraw Funds”
  • Choose your desired payment system
  • Follow the instructions on the screen
  • Payout

The minimum withdrawal amount is 20,000 IDR. IQ option in Indonesia supports GBP, USD, IDR, RUB, and EUR for domestic traders.

IQ Option Account Types Available in Indonesia 

Traders in Indonesia can choose from three distinct account types at IQ Option. You get different benefits and services depending on the account type. The available account types are as follows:

#1 Demo account 

This is a free practice account that is quite useful for newcomers. It includes all of the instruments that may be used with a genuine account. The only difference is that you are betting with virtual money. Rest assured, you’ll have full access to all trading methods and tools, just like you would with a real account. This account also features a “top-up” feature that allows you to restore the balance of your virtual account to its original value. A demo account comes with a $10,000 starting amount and the ability to trade on 400+ assets.

#2 Real account

This is a real money trading account with a $10 minimum deposit and a $1 trade size. This account gives you access to a variety of tradable assets as well as the opportunity to compete in weekly trading competitions. Aside from that, the genuine account comes with the following advantages:

· 400+ assets for trading. 

· Maximum leverage – 1:500. 

· 24/7 live chat support. 

#3 VIP account

This account is available to professional traders who can make a minimum deposit of 1900 USD. VIP account users are entitled to additional privileges not available to demo or actual account holders. These advantages include:

• Participation in trading promotions is completely free.

• A personal manager who will support and advise you as needed.

• An increase of 3% in profits.

• A higher profit margin.

• Access to additional instructional materials and personal tutoring.

Support for Indonesian traders

IQ Option’s customer support is upright, and the company is doing its best to provide excellent service. However, keeping customers satisfied is the key to keeping them on board, and no other strategy will do. A 24/7 customer support team has been set up for this purpose. The result is the shortest possible response time to trader issues and inquiries.

The number they have is directly accessible, and the good news is that they have a real person to answer your questions. Thus, traders can rest assured that they will be answered no matter how complex their questions seem. The company offers an array of customer support channels such as Skype, phone, email, and chat, and they are quick to respond.

Apart from this, every trader’s account interface includes a chat feature to allow traders to communicate with one another. These features enable clients to reach out to more experienced traders to ask about tips or when they have problems.

Is It Safe for Indonesian Traders to Trade with IQ Option?

IQ Option is totally risk-free. In numerous ways, it protects the security and protection of your payments and information.

It encrypts connections with your online browser or mobile apps using SSL connections.
It adheres to the AES 256 Bit encryption standards for two-factor authentication.
Keeps customer funds in a separate account.
The broker’s funds are held in recognized European banks.

Is There a Hidden Fee with IQ Option?

As a licensed broker, IQ Option operates with complete transparency. It has no hidden fees, and if there are any modifications, they will be communicated to you by the IQ support team in advance.

Conclusion

Over the past few years, binary options trading has become steadily popular in Indonesia. Brokers like IQ Option provide a safe and secure option for Indonesian traders to access trading marketplaces.

With the variety of binary options brokers out there, you are sure to find IQ Option among the best. Therefore, it is a decent choice to trade with IQ Option in Indonesia.

Overall, IQ Option is a flexible platform appropriate for traders of all levels in Indonesia. So, if you want to take your binary options trading to the next level, choose IQ Options. 

The software is accessible for Windows, Mac, Android, and iOS devices, allowing you to access your account whenever and anywhere you want. It’s a one-of-a-kind, dependable trading platform with a diverse set of features designed to help you have a profitable trading experience.

Furthermore, its superb trading conditions, as well as educational and market research parts, making it an excellent alternative for Indonesian options traders.

About the author

Blogger at www.willascherrybomb.de Copywriter website: www.yvonnes-schreiberei.de

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