IQ Option is a trustworthy binary options broker, best know for its intuitive trading platform. IQ Option is best for traders looking for a reliable CFD and binary options broker with competitive fees. The account opening process and customer support is great. We recommend it to beginners and advanced traders.
Here are the top findings on IQ Option:
- IQ Option is a regulated online broker and is safe. It is best for CFD trading and binary options.
- Their portfolio of financial products is good. It is good for most traders needs.
- Low minimum deposit and the demo account make IQ Option a great choice.
- Their platform won multiple awards. It is easy to use and has trading tools built into it.
- Founded: 2013
- Demo: Yes
- Minimum Deposit: $10
- Regulated: CySEC (Cif License #247/14)
- Trading Platforms: Mobile (iOS, Android), Desktop (MacOS, Windows)
- Payout: Max 95%
- Assets: Forex, Digital and Binary Options, Stock CFDs, Cryptocurrencies, ETFs, Commodities
|Mobile App:||iOS, Android|
|Countries Not Available:||United States, Japan, Israel, Turkey, Belgium, Russian Federation, Australia, Canada, Germany, Italy, Netherlands, Romania, Spain.|
|Payout:||91% - Maximum $1 Million USD|
|Deposit Methods:||Credit Cards, Debit Cards, Maestro, Skrill, WebMoney, Cash U, Neteller, and Moneybookers|
|Withdrawals:||Processed Within 1 Business Day (Credit Cards, Debit Cards, Maestro, Skrill, WebMoney, Cash U, Neteller, and Moneybookers)|
Founded in 2013, IQ Option is part of the parent company IQ Option Ltd. Their platform offers a variety of financial instruments. The desktop and mobile platform received many awards for its features and capabilities. They started as a binary options broker, but now offer CFDs on popular financial instruments. These include forex, ETFs, stocks, commodities, cryptocurrencies, digital and binary options. Designated as a CIF (Cypriot Investment Firm) their base is in Cyprus. Cyprus Securities and Exchange Commission authorized this online broker with the CIF license #247/14. Traders across the globe can use their online trading platform, including the EEA. Traders like their accessibility, low minimum deposit, and free account.
Table of contents
- 1 Trading Platform
- 2 Mobile App
- 3 VIDEO: How to Trade with IQ Option
- 4 Financial Instruments Available
- 5 Trading Accounts
- 6 Trading fees and costs
- 7 Customer Support
- 8 Order Types
- 9 Deposits
- 10 How to Withdraw Money From Your Account
- 11 Banned and Accepted Countries
- 12 Regulation
- 13 Tournaments
- 14 Can you make money?
- 15 Promotions and Bonuses
- 16 Should You Use IQ Option?
- 17 Is IQ Option Legit?
- 18 Is IQ Option Safe?
- 19 Is IQ Option a Scam?
- 20 Conclusion
- 21 Our Rating: 4.9/5
In this review, we will go over everything you need to know about this broker and decide whether IQ Option is right for you. If you are looking for a great broker Pocket Option and Expert Option might be the right choice.
The platform is available on both desktop and mobile. IQ options allows the user to trade a range of different assets. It has become a popular international platform, with 50 million registered users. There are over 1 million transactions taking place each day. It is accessible to traders from over 213 countries across the world.
IQ Option developed an award winning proprietary trading platform. The platform is user-friendly and easy to use. The trading tools included: multi-chart layouts, technical analysis, economic calendars, stock screeners, historical quotes, volatility alerts and market updates. Unlike other brokers, iqoption platform is available in 13 languages. This is in line with industry leaders like eToro and Plus500.
IQ Option's platform allows you to trade a variety of financial instruments and assets. These include stocks, Forex, binary options (unless you are in the EEA – binary are subject to restrictions), digital options, ETFs, cryptocurrencies (such as Bitcoin, Litecoin, and Ethereum), and other commodities. The main screen shows a chart displaying currency value over time. On the right side of the screen, you can buy and sell currencies. The top of the screen displays the balance available in your trading account, and the asset that you are trading in.
The chart is in the middle of the screen. Buy and sell button are on the right side. Trading account balance is shown at the top.
You can choose between different assets by clicking on the drop-down box on the left-hand side of the screen. The trading interface has useful browse and search functions to help you find specific assets.
If you choose to trade, click on the buy or sell buttons on the right hand side of the user Interface. Input the amount that you wish to buy or sell. If you want to multiply your potential profit by a coefficient, you can use multiplier orders. This increases risk and the potential gain. You can choose and set thresholds that close the trade to avoid you spending much of your balance.
Technical indicators are useful in helping the user identify and monitor trends. Indicators give insight into which trades are likely to be profitable. The technical indicators include: Volume (exchange), Bollinger Bands, Alligator RSI, MACD, Moving Averages, Stochastic Oscillator, Parabolic SAR, Awesome Oscillator, ATR, Fractal, ADS, CCI, Ichimoku Cloud, KDJ, DPO, Belkhayate Timing.
Analysis – Charting Tools
IQ Option offers an array of visual charting tools. Charting options allow traders to map out their trading strategies. The graphs offered on the user Interface include Area, Line, Candles, Hollow Candles, and Bars.
Mobile trading is becoming popular as more and more daily tasks move from desktop computers to smartphones. Their proprietary mobile app, works in similar way to the desktop platform. The app is available for both Android and iOS operating systems.
The iOS version was rebuilt to adhere to Apple’s rule changes regarding binary options trading. Forex, CFD, and cryptocurrency trading are all available on the iqoption mobile app. The desktop site has an application version for Windows. Whatever device and application version you choose to use, they offer an intuitive and user-friendly platform for mobile and standard desktop trading.
You can trade, check account status, use charting tools, set alerts and notifications, get notified about market developments and more with the trading app.
VIDEO: How to Trade with IQ Option
Financial Instruments Available
As of this review, IQ Option offers 90+ different assets to trade. IQOption started as a binary option broker, but offers CFDs on Forex, Exchange Traded Funds (ETF), Stocks, Cryptocurrencies, Indices and Digital Options.
Forex trading is a popular instrument on IQOption. Their competitive spreads and over 50 currency pairs makes this a great platform. Available FX pairs on the IQ Option platform include: GBP/JPY, EUR/USD, USD/JPY, USD/CHF, NZD/USD, USD/CAD and AUD/USD among others.
IQ Option offers CFDs on 184 stocks. No opening fees are charges for stock CFDs. Minimum investment is $1 with leverage of up to 1:20. Many of these stock assets listed are from the NYSE and the NASDAQ. You can trade companies such as: Tesla, Amazon, Apple, AMD, Facebook and others.
Their platform offers 12 different CFDs on cryptocurrencies. These include: Bitcoin, Ripple, Qtum, Ethereum, ZCash, Dash, TRON, Litecoin, EOS, Bitcoin Cash, Ethereum Classic, OmiseGo. Margin trading leverage and short selling is easy with fast and seamless withdrawals and deposits. Like any other assets available to trade in with IQ Option, cryptocurrency assets can be traded using CFDs, Forex, or traditional options.
Cryptocurrency multipliers are another handy feature.
Cryptocurrency multiples are leveraged trades. The underlying price remains the same and remains the key factor in the profit/loss of the trade. The potential profit/loss on any deal is magnified by the multiplier. Before, they offered a single multiplier called Bitcoin X 100 – which, as you can imagine, multiplied the Bitcoin price by 100 times. The success of this feature led to IQ expanding the range of multipliers available – to other cryptocurrencies such as Ethereum (ETH), TRON, Iota, and Ripple, and by different quantities (X 20, X 50, and X 100) on Bitcoin. If you enjoy a high risk/reward ratio, this feature is a huge benefit. In addition to the multipliers feature, they have the Open Trade Network (OTN) – their own blockchain-based cryptocurrency exchange based on the Ethereum blockchain platform. OTN has been operating since 2018, and offers users a personal cryptocurrency wallet and specialized OTN coins (or tokens). OTN is a reliable and regulated blockchain innovation that has proved to be a worthwhile investment both for IQ themselves and for their users. Traders receive OTN tokens as an incentive to use them. OTN tokens are tradeable on the market. This has paid off for iqoption, caused a shift in the brokerage industry..
You can trade physical commodities at IQ Option. Commodities are becoming popular for a variety of reasons. Physical commodities aren't prone to depreciation and affected by market fluctuations and inflation like currency-based assets. Diversification of an investment portfolio is another reason to purchase commodities. They offer the option to purchase and trade CFDs on 4 different commodities: Gold, Silver, Platinum, Crude Oil Brent and Crude Oil WTI.
IQ Option offers the ability to trade digital options on Exchange-Traded Funds. These include 24 ETFs such as semiconductors, energy, technology, metals, utilities, emerging markets, and futures volatility. With an ETF, various securities are combined into a single “basket”. They are traded as a single financial instrument.
IQ Option offers 49 different options. Their binary options trading features are intuitive and accurate. If you live outside of the EU and value the simplicity of binary options, they offer a great platform for binary options. The trade expiry ranges from 1 minute to 1 month, and trades have a fixed return. Limits on binary option trading make things simple. Traders who value flexibility and control over simplicity may find them restricting.
Digital Options (CFD)
This financial instrument allows speculation on the price movement of the financial asset. The payouts go to 900%. Minimum investment is low at $1 and expiry times go from 60 seconds to 15 minutes.
FX Options are for traders inside the EU. They are similar to binary options with potential profit and risk fixed, and defined upfront. Payouts on forex options reach up to 2000% with a minimum trade of $30. FX Options have an expiry time and a pre-defined price point.
Two types of accounts: Standard and VIP trading account. Registration takes a few minutes. After you are verified and will be able to use the free account. You will need to make a deposit to be able to use the real account. The process of making a deposit is simple, and the minimum deposit is $10 – lower than that of many other platforms!
The minimum trade that you can make with IQ option is $1.
- Standard Account – Unlike many other CFD brokers, only a $10 minimum deposit is required and there are no restrictions on functionality. You get access to over 350 assets and 1 business day withdrawal processing. You get access to tournaments held on the platform. IQ Option tournaments are held weekly.
- VIP Account – Clients that deposit $1,900 or more within a 2-day period are eligible. With a VIP account you get the benefit of 3% in additional returns, personal account manager and monthly reports. These accounts are only available for customers outside the EEA.
The IQ Option virtual account requires no deposit, which is a useful feature. There are no time restrictions on the this account. You can refill your account balance to $10000 (not real money, of course!) as many times as you like. You can this account alongside a “real account” – enabling you to test various methods and strategies without risking financial loss! If you want to trade with real money, you can switch over to the real account (standard or VIP) and use your skills in the real financial world.
The demo account is one of the main draws for new traders. It is one of the reasons that it is becoming popular with beginner traders, who stay with the platform after they gain experience, due to its flexibility and wide range of features!
Trading fees and costs
Compared to other brokers, IQoptions is transparent with their fees and commissions. These are the fees charged:
- Spread – price difference between the bid and ask price. Spread vary, based on asset, volatility, liquidity, and trading hours.
- Commissions – For cryptocurrency trades, %2.9 is charged. Other financial instruments have no charge.
- Swap fees – also known as overnight funding fees. Swap fees vary from 0.1% – 0.5%. These fees are three times higher for positions opened over the weekend.
- Inactivity fee – for accounts that aren't active for 90 consecutive day, IQoption charges a €10/month fee.
- Withdrawal fee – no withdrawal fees for the payment service providers. For bank transfers the fee is $31.
If you are having trouble with registration, or any other issue, you can contact IQ Option customer service via the following contact methods:
- Email: email@example.com
- Official Website: Visit official website
- Group Details: Registration No. HE327751
- Address: Yiannis Nicolaides Business Center,Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus
IQ option offers different order types and stop loss tools. These trading tools are useful to cut losses on trades.
- Stop Loss Order – Set a maximum loss amount for a trade. When the amount is reached, the trade is closed and limits losses.
- Multiplier Order – Multipliers allow traders to multiply their return on investment. You can set a multiplier of 20x, 50x or 100x. When the price moves, it moves by a factor of the multiplier. This can increase profits as well the level of risk taken.
- Take Profit Orders – Specify an amount of profit and when that limit is reached, the trade is closed automatically.
- Pre-Order – Set a predetermined price to enter a trade. When the price is reached the trade is opened automatically.
There are various payment methods of depositing money, based on which country you are from. Bank transfers are popular, you can deposit with your credit or debit card, e-wallets, or with cryptocurrency wallets. You need to finish the account verification process before you can deposit money into your account.
The IQ Options platform comes with its own system called AstroPay. Astropay allows payments from countries that don't have other ways of transferring funds. The Asian market is important for IQ. It accepts bank transfers from a variety of banks in Thailand, the Philippines, Indonesia, Vietnam, and Malaysia. Similar systems are in place for South Africa (through Perfect Money, which also deals with Argentina, Colombia, and Brazil), China (through China Union Pay, which deals with Taiwan, Hong Kong, and Macao).
Deposits are easy and accurate, and the customer support team can help with any issues should they arise.
How to Withdraw Money From Your Account
Steps to withdraw money from IQ Option
- Go to IQoption.com
- Sign in to your account
- Click on the user in the upper right-hand corner
- Click “Withdraw Funds”
- Select your preferred payment system
- Follow the instructions on screen
- Credit Card/Debit Card Withdrawal
- Wire Transfer Withdrawal
- E-Wallets Withdrawal
The same methods that you use to deposit money are used to make a withdrawal request. You will need to go through verification. The basic account requires an initial minimum deposit of $10. The user can use the same features as the VIP account. The difference between the basic and VIP accounts is that the VIP account entitles the user to higher payouts, extra educational materials, and entry to bigger competitions (some of these allow you to win prizes worth up to $100,000!). The VIP account, has a higher minimum deposit of $3000.
What kind of ROIs can you expect with the payouts?
Standard payouts with IQ offer competitive rates, with traders able to earn up to 91% payout in some cases. This is one of the best available in the finance industry! Spreads on FX and CFD trades are competitive, with the fees lower than many online brokers and comparable to those of larger established brokers.
As with all online trades, payouts will vary depending on the specific asset and expiry date. For example, the success and profit of Forex and CFD trades are dependent on the asset itself. The platform offers a suite of risk warning and management tools, such as stop loss order and user-defined leverage.
Banned and Accepted Countries
IQ Option Europe Ltd offers trading to a huge variety of countries and operates in many languages.
List of banned countries
At time of writing, it is unable to operate in the USA, Canada, or Australia due to their local laws and regulations, so traders from these countries will not be able to open a account at present. Countries that they don't accept are Belgium, Iran, Israel, Japan, Latvia, North Korea, Pakistan, Palestine, Russia, Sudan, Syria, and Turkey.
Many large trading bases and hubs use and offer IQ services. The United Kingdom (UK) is one of the largest, along with Germany and Sweden. Use across Asia is rising. Regions such as Singapore, Malaysia, India (binary options trading has become legalized), and the Philippines all getting involved. This is adding a huge user base to the platform. Africa is a similar story, with Nigeria and Ghana benefiting from IQ’s services due to those countries’ with liberal regulations. Some countries are able to open and use accounts, but are limited with regards to mobile app access. Users from China, Cuba, Liechtenstein, Malta, Myanmar, and Turkey are unable to trade via the iOS mobile app, and users from Cuba, Liechtenstein, Malta, Myanmar, and Turkey are unable to trade via the Android mobile app. Other countries in Europe, are able to trade, but due to local laws and regulations are prohibited from trading in binary or digital options.
Since 2013, they won multiple awards for their quality and reliability. Millions of traders recognize it as a great online broker. Registered in Cyprus, the parent company “IQ Option Europe ltd” has a CySEC licence. This enables them to operate and offer services within the EEA. For clients outside the European Economic Area, “iqoption ltd” manages trading accounts. The “iqoption ltd” resides in St. Vincent and Grenadines and is not regulated.
The IQ Options community hosts various trading competitions. Each competition comes with its own unique terms and conditions, and features a leaderboard that ranks traders based on the success of their trades.
To encourage and incentivize trading, generate publicity and excitement, IQ broker hosts tournaments. To win, the amount of total profit in a certain period is what matters. Some tournaments are short term and some long term. Different assets are in the center of different tournaments. Some focused on Forex and others on stocks. The tournaments award the winners with valuable prizes. That's on top of the profit made! Prizes range from cash rewards to experiences such as Aston Martin race days.
Can you make money?
Yes, it is possible to make money with IQ Option. If you want to make a profit, you have to predict the price movement (market direction) before the trade contract expires. In theory, you could make money within 60 seconds. This is the lowest contract expiry time. Digital options pay up to 900% profit. Binary options pay a maximum of 95% profit.
Promotions and Bonuses
CySEC has regulations in place and IQoption.com can't offer deposit bonuses. They do host a trading competition, where prizes range from $100 to $100,000. Trading tournaments are not available to EEA. VIP accounts can enter tournaments for free. Standard accounts have to pay a fee.
Should You Use IQ Option?
Financial products carry a degree of risk. Traders shouldn't invest funds that they cannot afford to lose! To start trading is a personal decision and based on many different factors. If you decide to start using their platform, we will explore some of the reasons it may be the a great choice for you. Two of this platform’s exciting, useful, and prominent features are the demo account and their tournaments. Visit their official website for more information.
Is IQ Option Legit?
Yes, IQ Option trading platform is legit. This broker offers services to traders from 213 countries and has over 40 Million clients. They process over 1 Million Transactions per day.
IQ Options is a trustworthy and reputable broker known for their great platform. We can recommend it to traders, from beginner to advanced.
Is IQ Option Safe?
IQ option is safe. This broker is one of the biggest companies in the industry. With over 40,000,000 users registered, they are a legit online broker. It is regulated and licensed by CySEC, FSA and is a member of the Investors compensation scheme (up to $20,000). Segregated bank accounts hold traders' funds.
Is IQ Option a Scam?
This broker has 50 million registered traders from 213 countries and the number of active traders is growing every year. They process over 1 Million transactions per day. IQ option is a legit online broker. Their platform is intuitive and one of the best in the industry. We can recommend it to all traders, from beginner to advanced.
IQ Option is a regulated broker, best known for its intuitive trading platform. We found that IQ Option is best for their customer service, mobile trading app, binary options, and CFD trading. They offer a wide range of investment options, with competitive fees. We recommend IQ Options to traders.
Our Rating: 4.9/5
- Trusted Broker
- Regulated by top-tier financial authorities
- Great user interface
- Great for binary options
- Feature rich platform
IQ Option is a useful and feature-rich platform. Ease of use, variety of assets, low minimum trade, minimum deposit and demo account features being notable. IQ Option is great with customer support,. No broker is going to be right for everyone. You should do your own research. When trading online, make all the precautions to avoid financial loss. We hope that this analysis has been useful and helpful.
Between 74-89% of retail investor accounts lose money when trading CFDs. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.