Hot-injection has become the most widespread method used for the synthesis of perovskite quantum dots (QDs) with enormous interest for application in optoelectronic devices. However, there are some aspects of the chemistry involved in this synthesis that have not been completely investigated. In this work, we synthesized ultra-high stable CsPbI3 QDs for more than 15 months by controlling two main parameters: synthesis temperature and the concentration of capping ligands. By increasing the capping ligand concentration during the QD synthesis, we were able to grow CsPbI3 in a broad range of temperatures, improving the photophysical properties of QDs by increasing the synthesis temperature. We achieved the maximum photoluminescence quantum yield (PLQY) of 93% for a synthesis conducted at 185 °C, establishing an efficient surface passivation to decrease the density of non-radiative recombination sites. Under these optimized synthesis conditions, deep red LEDs with an External Quantum Efficiency (EQE) higher than 6% were achieved. The performance of these LEDs is higher than that of the reported CsPbI3 QD-LEDs containing standard capping agents, without additional elements or further element exchange. We show that it is possible to produce stable CsPbI3 QDs with high PLQY and red emission beyond the requirement of the Rec. 2020 standards for red color.