Best Binary Options Broker!
Perfect For Beginners!
Free Trading Education!
Free Demo Account!
Good Choice For Experienced Traders!
Beginner’s Guide to IQ Option: Complete Review
IQ Option is an online trading platform that enables customers to trade a variety of financial instruments and assets such as Binary Options, Stocks, Forex and of course Cryptocurrencies.
Founded in 2020 and operated by IQ Option Ltd, the site has quickly became one of fastest growing online trading platforms and claims to have over 20 million account holders from around the world.
IQ Option is also based in Cyprus and regulated in the EU by the Cyprus Securities and Exchange Commission (CySec), the company is fully compliant with the legislation put forward by the commission and fully authorized to sell their products to clients in a number of jurisdictions.
Risk Warning: Your capital might be at risk.
Take a look below as we walk you through the site and offer our full review of the service.
IQ Option at a Glance
|Minium Initial Deposit
|Asset Coverage||CFDs, ETFs, Forex, Cryptocurrency, Stocks, Indices, Commodities|
|Leverage||30:1 Retail Traders, 1000:1 Professional Traders|
|Trading Platforms||Proprietary Web, Mobile App|
What it Offers
IQ Option is a comprehensive trading platform that provides its users with a wealth of alternatives, and after starting out as a binary options broker, IQ Option now allows customers to trade Contracts for Difference (CFDs) on stocks, Cryptocurrencies, Exchange Traded Funds (ETFs), Forex, and a range of various digital options.
- CFD on Stocks – IQ Option allows users to trade CFDs on stocks from over 176 different companies, including the most successful businesses listed on the NASDAQ and NYSE.
- Cryptocurrencies – Users can also trade 12 of the top cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, Monero, Zcash, Omisego, IOTA, and Dash.
- ETFs – EFT trading is a relatively new product, and ETFs work by tracking commodities, indices and baskets of assets. These can be traded in the same way as common stocks, and traders can choose from approximately 4288 different ETFs.
- Forex –FX trading, or Forex, is an extremely popular trading market and IQ Option provides access to around 188 currency trading pairs. This allows users to trade their favourite foreign currencies with ease.
- Options – Users can speculate on the price of a number of different assets, which include currencies, stocks, indices and commodities. The platform currently provides a gateway to over 10 million options.
IQ Option Demo Account
Like many competitors, IQ Option offers a demo account. However, IQ Option’s demo account stands out. This is because there is no limit on how long you can use the demo account. That allows you to get truly comfortable with your trading techniques. It also allows you to test new trading strategies in the future.
The IQ Option demo account includes $10,000 in virtual funds. If you use all of those virtual funds, you can easily have the amount replenished, allowing you to continue practicing your trading techniques.
Another standout element of the demo account is the fact that you do not need to provide personal information before using it. This is not always the case with competitors. The lack of personal information required for a demo account helps potential clients protect their privacy.
Best Binary Options Broker!
Perfect For Beginners!
Free Trading Education!
Free Demo Account!
Good Choice For Experienced Traders!
IQ Option Real Accounts
IQ Option requires a low minimum deposit and new traders can start off by just depositing $10 in order to gain access to a live account, there are currently two trading account options:
- Real Account. This can be accessed with the $10 minimum investment and there are no restrictions on trading functionality. This account provides access to over 70 assets and users can request withdrawals that are processed within 24 hours. Real account holders can also take part in various trading competitions held on the platform ( customers outside of the EU ).
- VIP Account. – This is available to Traders who:
- Make a deposit of $1900 or an equivalent amount in other currencies, or Have a trading volume of $15000 “IQ Option Ltd. provides VIP status for traders from non-EEA countries”
- In addition to the features found on the real account, the VIP account also includes a personal manager who is always ready to assist traders with any queries and issues. The VIP account also comes with a monthly report on user trading records, which is performed by the platform’s analysts and gives customers valuable feedback on their performance.
IQ Option Signup
The best way to get started is to sign up via Facebook, Google, or to simply create an account by using an email address. After inputting your details and creating a password you can proceed.
When this is done you can immediately use your practice account or top up your real account before moving on to live trading. A pop-up will notify you of the creation of both your practice account and real account.
IQ Option has developed its own proprietary platform and this makes navigating the site an enjoyable experience. The platform has been generally well designed with an intuitive approach and it’s quite easy to locate all the various tools and features. The free demo account also provides users with the possibility to trade with all of the underlying assets. As a result, there are a variety of options regarding types of trades and users can quickly switch between their preferred assets. The platform also offers a range of charting tools such as Bollinger bands and moving averages which all help enhance trading capabilities.
IQ Option Deposits
With IQ Option, there is a minimum deposit of 10 USD/GBP/EUR. You can select your preferred form of deposit, and IQ Option does not charge any fees for depositing funds.
To make your first deposit, you will need to go through the account verification process which in the EU involves adding your phone, personal information, adding your trading experience and uploading photo identification. Different countries will have different requirements and also will need verification to make withdrawals from the site.
IQ Option offers its customers a number of ways to make deposits and withdrawals to and from their trading accounts. Users can currently use debit services such as Maestro and Visa Electron, or credit cards like Visa and Master Card. Customers can also use a host of payments processors such as Skrill, WebMoney, Cash U, Neteller and Moneybookers.
There is also the option to process payments via Wire Transfer and the current minimum withdrawal amount is $2, while the estimated time to withdraw funds is 1 business day. Your bank may charge fees for this process.
As of the time of writing, IQ Option still does not allow for deposits via PayPal. However, the platform is working to make this an option.
IQ Option Withdrawals
When it comes time to withdraw funds from your IQ Option account, the method used will vary based on the deposit method. In the case of deposits via a credit or debit card, you must withdraw the initial deposit amount onto the card. Since this transaction gets processed as a refund, you can only withdraw up to this amount to your credit or debit card, including deposits made within the past 90 days. Any profit that is over this amount will need to be withdrawn via a bank transfer or your chosen e-wallet.
The e-wallet options for withdrawals are identical to those for deposits, including Skrill, WebMoney, and Neteller. Alternatively, you can withdraw those profits via a bank transfer. Keep in mind that opting for a bank transfer does come with a fee of $31. In the case of deposits made via an e-wallet, you must withdraw the funds to your same e-wallet account.
Regardless of your withdrawal method, IQ Option will process your request within three business days. Bank cards and payment providers may require additional processing time.
Keep in mind that before you can withdraw funds from your IQ Option account, you must verify your account by submitting identification documents. This involves uploading:
- A photo ID, such as a driver’s license or passport
- In the case of a deposit made via a bank card, you must also upload an image of both sides of every card used. Hide the CVV number and the middle digits of your card number. Keep the first six and final four digits visible. This is for your own security.
How to Trade on IQ Option
Trading on IQ Option is relatively intuitive and the trading platform is very well designed. You will see the chart is in the center with buy and sell boxes to the right hand side. Your balance is displayed at the top along with any assets you are currently trading.
You can use the drop down located at the top left of the chart area to choose which instrument to trade. The drop down contains FX Options, Forex, Stocks, Crypto, Commodities, Indices and ETFs and from that you can then select or search for your chosen asset.
You trade right from the Web Trader’s interface. To the right of the graph for your chosen asset, you will see options to buy and sell. You simply fill out the amount of the asset you wish to purchase and submit your order.
You can also place an order easily via the mobile application, and the overall setup is very similar. To the right of your chart, you will see the same options, with the ability to adjust investment, leverage, and price and then select buy or sell. For clarity, this section of the trading platform will also display the spread.
Users can also easily search for their favorite cryptocurrencies and analyze all of the most relevant and up to date information. In addition to offering Bitcoin and Ethereum, IQ Option also offers at least 10 other cryptocurrencies to trade. These include Dash, Ethereum Classic, IOTA, Ripple, Litecoin, and Monero.
Risk Warning: Your capital might be at risk.
The interface also provides easy to find links to chats, trading history, and customer support, and in the event of any issues, users can quickly open up a dialogue with the support team. Another standout feature is the resources section that provides access to training and education materials. A number of short training videos are integrated into the site and traders can access these resources without having to leave their training accounts.
The demo version of trading platform is also the same as the live version, and traders can improve their skills by using the $10000 of virtual funds that come with the practice account. Even if things go badly, these funds can be replenished, giving traders a consistent pool of funds to practice with.
Order Types & Stop Loss Tools
As is expected of modern trading platforms, IQ Option gives traders a range of order types to reduce risk and customize the trading experience. The variety of order choices lets traders create strategies that are short-, medium-, or long-term and featuring a variable return. Multipliers let traders increase the risk level for an investment with a corresponding increase on the return.
Stop loss orders let traders set maximum losses that they will accept, automatically closing the trade if it is triggered. Take profits do the same thing but when the trade reaches the profit you specify. A trailing stop will lead to dynamic operation of an auto-close at loss, moving with the price in the direction the trader indicates. Purchase at preorders lets traders set a price at which enter the market.
To supplement the order types, IQ Option offers a range of tools for setting stops and take profits. While most brokers just let you select the asset price, IQ Option lets you set the take profit or stop loss at either a percentage, numerous loss, or specific asset price. There is also the choice to apply the dynamic stop loss or trailing stop and the ability to use the balance to keep a position open if it exceeds the stop loss.
There are numerous order types available with IQ Option, with the specific types of order available varying by asset.
- Multiplier orders allow you to increase the return on investment and your level of risk via a coefficient. This is a popular tool among advanced traders, but it should only be used by those with experience due to the increased risk. When used properly, it can dramatically increase potential profits.
- Stop loss orders let you set maximum losses that you will accept. When this type of order gets triggered, it automatically closes the trade to minimize your losses.
- Take profit orders are almost the opposite of a stop loss order. You indicate the amount of profit you want to reach, and the order automatically closes when it reaches this point.
- Trailing stop orders build on the idea of a stop loss by dynamically using auto-close at stop. A trailing stop order will move with the changes in price in the direction that you indicate.
- Finally, a purchase at or pre-order lets you choose the price at which you want to enter the market. When the market reaches this point, the trade will automatically be executed.
To ensure traders can get the most from the IQ Option trading platform, the broker offers a long list of charting tools that can provide insights and help clients craft their trading strategies.
Candle charts are among the most popular for IQ Option traders. These candles indicate a period of time, with solid colors indicating volatility during the given period and points marked for the price at both the beginning and the end of the given period.
Hollow candles are similar. However, instead of always using solid colors, the positive candles are hollow and the negative candles are solid.
IQ Option also offers area charts that show the price in the form of a line, complete with shading for the area underneath. Line charts are similar, but the area underneath the line is not shaded.
Finally, bars, like candle charts, cover a period of time you specify. They indicate the prices at the beginning and end of the period but do so with vertical lines. There are complementary horizontal lines that display the prices at open and close.
With the indicators on IQ Option, you can spot trends and better identify potential trades that will lead to profit. IQ Option offers 13 indicators that are available via the charting interface.
Many can be used independently or together to maximize your results and insights.
- Moving Averages (MAs) include Simple Moving Averages, Weighted Moving Averages, Smooth Simple Moving Averages, and Exponential Moving Averages. These can help provide insights into current trends and can be used with other indicators.
- The Moving Average Convergence Divergence (MACD) shows where moving averages converge and diverge, essentially visualizing the ratio between two Exponential Moving Averages (EMAs).
- The Parabolic SAR has a similar purpose to moving averages. However, the position changes based on the price and it moves in conjunction with higher acceleration. It shows up in a group of small dots.
- The Awesome Oscillator indicates a visualized ratio of two SMAs (Simple Moving Averages), with one fast and one slow. The indicator helps show new trends’ development and completion.
- Bollinger Bands are trend indicators showing a dynamic range for price movement.
- Volume Indicators show the quantities of your chosen asset that were bought and sold within a given period, indicating interest.
- The Alligator Indicator helps you assess market movement in terms of direction and assists with filtering Side Bands (no-trend periods). Overall, this indicator helps traders find emerging trends, and it is cross-functional.
- The Relative Strength Index (RSI) helps figure out a current trend’s strength, as well as potential reversal points. It compares asset price growth (absolute) with the total price reduction, showing it via a curve.
- The Stoch or Stochastic Oscillator indicators show a price’s current position in comparison to the extremes from your selected period. This is shown as a percentage and helps you determine likely reversal points.
- The Average True Range (ATR) displays a trading asset’s current volatility within your chosen period and determines the change rate of quotes.
- The Average Directional Movement Index (ADX) shows a trend’s strength before the price movement begins. It can also indicate potential market volatility changes.
- A fractal is a series that includes a minimum of five Japanese candlesticks, showing the local maxima and minima of price curves as well as market reversal points.
- Finally, the Commodity Channel Index (CCI) measures the speed associated with price movements. It helps traders determine upcoming market reversals and can detect extrema or assess a trend’s strength.
IQ Option places a good amount of focus on its users and the platform enables customers to trade with confidence by incorporating a number of features that greatly enhance the overall trading experience. These include:
IQ Option offers a mobile web trading solution in addition to a specific mobile application, which gives users greater flexibility regarding mobile trading options. The app has a clean, intuitive graphical interface and is easy to use; it also has most of the charting options found on the standard platform. The app also provides push notifications, and users can set key trading levels which result in alerts any time these levels are breached. The app works on tablets as well as smart phones and the platform is available to both Android and Apple iOS device holders.
If you are outside the EU, then Customers are provided with the chance to test their skills against other traders via a number of Binary Option tournaments. These frequent tournaments are usually around 30 minutes in length and require a small entry fee. After signing up, users are given $10k in virtual funds and at the end of the competition; the trader with the highest returns wins a prize.
The prize can be fixed or be related to the number of people who entered the tournament, and at best allows the winner to receive a payment of up to 100x the entry fee. If users deplete their virtual funds, they can buy in again and continue to take part in further tournaments. This provides users with an interactive way to test their trading capabilities as well as pick up new trading techniques.
As always, please note it is possible to lose your entry fees when taking part in competitions.
Education and Training Resources
IQ Option also makes a wealth of data available for all its users, and the site incorporates training resources that can benefit both newer and more experienced traders. These include various trading videos, as well as webinars and tutorials. Users also have access to a number of e-books and an FAQ section that covers the most common questions. These training materials provide valuable information to for traders of different abilities and experience.
IQ Option Affiliate Program
IQ Option offers an affiliate program for those who want to supplement their income by encouraging others to sign up to use the platform. When you become an affiliate, you simply share your affiliate link, whether this is on a website, blog, or somewhere else. From there, a user will click the ad or link. When they sign up, it will be associated with your unique ID.
Your rewards arrive when the users you encourage to sign up start trading on IQ Option. Based on the trading activity of the client, you can earn as much as 70 percent of the broker’s profit. This continues for life, allowing for passive income opportunities. The earnings are paid out two times every month, and you can choose your preferred payment method. To date, IQ Option has 115,410 affiliates in 178 countries. On the day of writing, IQ Option affiliates had already earned $35,015.50 just that day alone. You can view up-to-date figures on the countries, customers, affiliates, and amount earned by affiliates for the day on the IQ Option affiliate page.
The IQ Option affiliate program does not allow for a negative balance, as there are no deductions from your profit, only profits. There is also cross-platform support with options for mobile and web, multilanguage support, and universal links. The program even provides analytics, complete with reports that include data filters.
In addition to the regular affiliate program, IQ Option offers an IQ Option CPA program, which it advertises as among “the most lucrative” programs of its type within the industry. Qualified traders can receive payments between $35 and $1,200. As with the regular affiliate program, the CPA program receives payments twice each month and gets useful data. There is also a convenient calculator to determine approximate income from CPA program affiliates.
History of IQ Option in Numbers
As mentioned, IQ Option was founded in 2020. Since then, the broker has grown considerably and includes specific figures on its website to help show its growth. Starting with the number of active users, there were 8,110,000 registered users in 2020, which had nearly doubled to 14,680,000 by 2020 and reached 25,580,000 in 2020. This represents registered user growth of a whopping 17 million just between 2020 and 2020.
Not only did IQ Option have an expansive growth in active users, but the countries that these traders were from increased. In 2020, IQ Option had traders in 135 countries, growing to 148 countries in 2020, 150 in 2020, and 151 in 2020.
IQ Option also lists the figures related to trades throughout the years. Between 2020 and 2020, the number of daily transactions increased by nearly 70 times. Between 2020 and 2020, this figure grew another 2.5 times. For those interested in specifics, 2020 had an average of 646,000 transactions each day, which increased to 956,000 by 2020 and 1.8 million by 2020.
Or you can look at the figures representing growth in terms of trading volume per month. Between and 2020, this figure increased by about 23 times. In 2020, the figure was $16 million, which became $89 million, an increase of 5.5 times in just a year. By 2020, this was $184 million, more than doubling in just a year. Between 2020 and 2020, the monthly trade volume increased to a whopping $380 million. This means that for two consecutive years, IQ Option doubled its monthly trading volume.
That trading volume does not all stay inside the platform. Instead, there is also an increase in the amount that traders withdraw from the platform each year, showing that the active users are truly earning money. In 2020, traders withdrew $1.5 million per month, which became $5.8 million in 2020 and $10.8 million in 2020. In other words, 2020 saw 1.8 times more money withdrawn by traders from IQ Option compared to the previous year.
It is also worth noting that these withdrawals have increased in speed. In 2020, IQ Option made changes to offer instant withdrawals. This allowed for 68 percent of withdrawal requests to be processed immediately. Now, the average time for processing a withdrawal from IQ Option is just one day. The order processing has similarly improved, now averaging just a second.
IQ Option also offers indications of how its customer support has improved over the years. When chat support began in 2020, there was an average wait of 7 minutes for a reply in chat, which decreased to 4 minutes in 2020, 46 seconds in 2020, and 38 seconds in 2020. On a similar note, the amount of time it took to answer a ticket decreased from two hours in 2020 to 24 minutes in 2020 to just 16 minutes in 2020. Some of this is also due to the growth of the support team, which only had 25 members in 2020 but grew to 39 members in 2020 and 78 in 2020.
The number of affiliates has also grown from 3,000 in 2020 to 84,000 in 2020. This included 21,000 affiliates in 2020 and 48,000 in 2020. Along with the growth of affiliates, those affiliates have consistently earned more every year. Affiliates earned $200,000 monthly in 2020, $810,000 in 2020, $2.3 million in 2020, and an impressive $4.6 million in 2020.
IQ Option Awards
Over the years, IQ Option has accumulated an extensive list of awards, each of which shows off one of the platform’s strengths. The Academy of Interactive & Visual Arts honored IQ Option with the 2020 Award of Excellence, which is the highest honor from the Communicator Awards. IQ Option was recognized by the voting committee as the top trading app in the Financial category.
In 2020, IQ Option earned the Rising Star award for “The intelligent trading app for binary options” from the Mobile Star Awards, the largest annual awards program worldwide for mobile software and innovations. The organization praised IQ Option for its design and efficiency.
The Web Marketing Association honored IQ Option with the Best Technology Application in 2020 for the company’s mobile application.
IQ Option also earned the Century International Quality Gold ERA Award from the Business Initiative Directions Group as recognition for the company’s commitment to Excellence and Quality, especially within Customer Satisfaction.
Going back a bit further to 2020, IQ Option earned the title of Best Binary Options Broker Europe 2020 from the Global Banking & Finance Review. The broker also earned the title of Most Innovative Binary Option Platform from the IFM Awards in 2020, as well as the Best Mobile Trading Platform in the same awards.
Global Brands Magazine, which is a reputable brand observer in Britain, honored IQ Option with the title of Fastest Growing Binary Option Brand. In the Forex Awards 2020, IQ Option was named the Best Trading Platform. Also in 2020, the MasterForex-V awarded IQ Option as the World’s Leading Binary Options Broker and the Most Reliable Binary Options Broker.
The FX Report Awards named IQ Option the Best Binary Options Broker in 2020. In 2020, the same year IQ Option was founded, the company earned the title of Most Innovative Binary Option Broker from Moscow’s ShowFx World conference. At the IAIR Awards, IQ Option earned multiple awards, including the Best Binary Options Broker and the Best Binary Options Broker/Trading Application.
IQ Option Jurisdictions, Languages, and Countries
IQ Option has clients from 151 different countries. The platform and website are currently available in 13 languages, allowing traders from around the world to trade in a language they are comfortable with. For further international appeal, IQ Option lets traders select from one of the following currencies for funding: GBP, EUR, USD, Yuan, MYR, IDR, and RUB.
IQ Option is owned and operated by a company within the European Union. As such, IQ Option has a license from CySec, the Cyprus Securities and Exchange Commission. To receive that license, IQ Option met, and must continue to meet, minimum requirements related to marketing restrictions, client funds, and trading products. The registration in Cyprus as a financial services provider has number 247/14, giving IQ Option the ability to take on European clients, who then receive full CySec protections.
Due to CySec regulations, all client funds must be stored in segregated accounts that IQ Option cannot access for its own brokerage business. CySec regulators also offer a level of deposit insurance, which protects a certain level of all investments made with IQ Option if something happens to the broker.
IQ Option USA
Unfortunately, IQ Option is not available to traders in the United States. The broker is available in 178 countries around the world, but the United States has stricter restrictions and regulations, meaning American traders cannot use the broker. Other countries that you cannot use IQ Option in include Canada, Russia, Australia, France, Japan, Belgium, Turkey, Israel, Iran, Syria, and Sudan.
IQ Option Customer Support
IQ Option allows users to contact the support team via email, contact form and a chat function. The site claims to respond to all queries within 46 seconds and aims to resolve all tickets within 24 minutes. There are currently around 83 customer service specialists on the team and traders who require a more personalized service can upgrade to the VIP account which comes with a personal account manager.
IQ Option retains an international focus and aims to cater to traders from around the world. The platform offers the possibility to trade in a variety of different currencies such as USD, GBP, EUR, Yuan, RUB, TRY, IDR and MYR. In addition to this the site also provides support in languages such as English, French, Italian, Spanish, Portuguese, Chinese, Korean, Arabic, German, Turkish, Thai, Hindi, Urdu and Norwegian.
However, due to a variety of different regulations, the site does not provide its services to citizen or residents of the United States of America, Australia, Canada, Belgium, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea or Russian Federation.
IQ Option also adheres to the required standards of identification and users should note that when they register for a trading account they must provide their personal data and verify their email address and telephone contact number. Potential users who are unable to do this will be unable to complete their account registration.
- Also after funding your account, you will be asked to provide further personal information in order to complete your account verification. IQ Option will expect to receive copies of identification documents such as:
Passport or National ID Card issued by a Government Authority
- Proof of Address in the form of a Utility Bill or Bank Statement is required from EU residents.
IQ Option Customer Reviews
Most online reviews from customers of IQ Option are positive, but there is the occasional negative review, as should be expected. Some complaints relate to the fact that IQ Option requires KYC procedures to verify your identity before you withdraw funds. However, these procedures are normal for any broker dealing with fiat currency, and even many cryptocurrency exchanges require KYC procedures.
Some users also indicate that withdrawing funds can be challenging at times with the occasional issue related to having an account blocked. However, this does seem straightforward to resolve and may come down to KYC issues; the reviews are not clear on the cause.
Those reviews that indicate complaints against IQ Option are regularly interspersed with positive reviews. It also seems that many of the negative reviews posted online are not actually from customers. Instead, they are from people who claim to have had issues as a way to promote another service. When you look at online reviews from people who claim to be customers of IQ Option, remember to take them with a grain of salt since many are clearly from competitors or people with ulterior motives.
When read with a critical eye, the overall trend of seemingly valid reviews of IQ Option from customers seems to be neutral to positive.
Is IQ Option a Scam ?
While carrying out this review and researching other people’s opinions online, we found a number of complaints from people calling the site a scam. Some reasons mentioned are that they disabled a person’s account which didn’t allow them to withdraw their balance and a lot of disgruntled people who seem to have lost money trading on the platform.
But we also found overwhelming number of positive comments about the company which seems to point that the few who have had problems with them are the more vocal people online.
In our view there is absolutely no way this company can be considered a scam, the company is a tightly regulated business with a high revenue turnover, official business premises and high quality website and trading software.
Is IQ Option Safe?
In addition to practices such as maintaining segregated accounts for client funds, IQ Option offers security in several other ways. Unsurprisingly, the broker has full SSL encryption. As such, all communication that traders send to the broker’s servers is encrypted in a way that meets AES 256 Bit encryption standards. That encryption limits the ability of hackers to access information, letting IQ Option supply added protection of both client funds and information.
IQ Option is an impressive platform that provides its users with a great amount of value. The site merges a good level of transparency and functionality and users can be comfortable knowing that the platform is in keeping with the latest financial regulations.
Trading on the site is generally quite a smooth experience and the platform utilizes an intuitive UI that is easy to navigate. The platform and trading application is functional enough for professional traders whilst also being simplistic enough to allow new entrants to painlessly learn the trading process.
IQ Option is a company on the rise and has grown to managing almost 15 million accounts and processing 3 million trades per day. The site also enjoys a trading volume of $11 billion a month and pays out approximately $5.7 million to its users on a monthly basis.
The site does have its drawbacks, and users who require extensive interaction with a customer service agent may be unfulfilled by the two account levels. In order to be in consistent communication with a personalized account manager traders are expected to pay a $3000 fee which may be too restrictive for some. The site is also proving to be popular with traders around the world and despite IQ Option devoting time and energy to developing its customer service, there is the possibility that users may have to wait for more than 24 minutes in order to have their queries processed.
Finally, IQ Option is not available to the residents of countries such as the United States, Canada, and Japan. These nations are home to large numbers of financial literate individuals and the platform would be better off with their presence. However, IQ Option still caters to traders from over 178 countries and provides a comprehensive service to all its users. The platform caters to stock, Forex, and cryptocurrency traders and individuals who sign up can be sure to interact with an intuitive platform that provides access to a wealth of resources, and trading options.
Risk Warning: As always with trading, you should know the risks before hand – these are volatile markets where it is completely possible to lose large sums of money if you do not know what you are doing. Make sure to do your research, learn the platform inside out and never risk more money than you can afford to lose.
IQ Option Review — A Scam or Legit Broker
If you love to do trading then IQ option is the best platform to start trading. It allows a potential customer and a customer to do trading of like Stocks, Forex and of many cryptocurrencies.
It is the best platform to earn a little more on your every investment. Henceforth, you may try the platform if you are a trader or if you are thinking to become a trader.
History of the platform:
It was founded in 2020 and is being operated by IQ option Ltd. After its successful launch, the site has become the largest platform to trade. Even it had have grown at a wide scale and had multiplied the number of users over the period.
It had an increase of 17 million active users from 2020–2020. Hence, the biggest platform which allows the user to trade with secures methods.
Brief description of the IQ option:
- The platform is regulated by Cyprus ( CySEC). The minimum initial deposit an active user has to deposit when they start the trade is $10.
- You will also get a demo account if you are a beginner in trading and you can learn how to trade by that demo account before starting with the real account.
- The IQ option covers several assets like CFD’s, ETF’s, Forex, Stocks, cryptocurrencies, and some more.
- The trading platform of the IQ option is a proprietary web and mobile are quite good and comfortable.
- Therefore, if you are thinking to start trading with IQ option then it is your best decision as you will get a lot of return for your investment through this platform.
A brief about assets which the platform is offering:
IQ option is the biggest trading platform which allows the user to get a return for their investments through various acids. As we have mentioned some of the assets above now we will discuss more anent them in brief detail.
- CFD: One will be able to trade through CFD on stock and averages of 176 different companies are included in this plan.
- Cryptocurrencies: As we all know that cryptocurrencies are too famous nowadays and hence it is allowing the traders to trade through 12 different cryptocurrencies.
- ETF’s: These are like the common stocks and allow the trader to trade through 4288 different ETF.
- Forex: It is the most famous trading option nowadays and the platform is providing you to trade through 188 currency pairs. With this the trader will be able to trade through any foreign currency they want to.
- Options: The platform is providing over 10 million of options to the users to speculate their trade through different assets and trading methods.
How to sign up on IQ option?
There are two options through which a trader can start with IQ option:
1. One may signup via Face book or Google to start with IQ option.
2. Otherwise, one can easily create an account through their email id and can sign up to the platform.
After signing up of one has to choose that if they start with the demo account or directly with the real account. A pop-up will be on the screen to choose the type of account one has to start with. The platform is well developed and is providing all the necessary options on its first page only and a beginner will easily get to know that what all options the platform is providing to them.
Now, we will discuss anent both the accounts in brief detail further.
- Demo Account:
- If you are a beginner and want to practice before actually starting with the real account then you may opt for a demo account for the same purpose. This will allow you to practice your trading techniques before starting with the real ones.
- Henceforth, you can trade through this account as long as you want to until you become familiar with the trading techniques.
- Even the second most advantage of the demo account is that you do not need to provide your personal information on the account.
- Live Account:
The IQ option asked to submit a very minimum amount to start with the trading account and only $10 is needed to be deposited before starting with the live account. Right now two trading accounts are being provided by the IQ option to the traders, the details of both the accounts have been mentioned below:
To start with the real account one has to deposit a minimum investment of $10 and then they can to the trading freely. Also, the platform will provide you with 70 assets then and you can even withdraw the Amount deposited within 24 hours. Therefore, the best way to start with depositing the money and getting the return profit in the future.
- VIP account:
- This account can be used by the traders of two types:
- Those who make a deposit of 1900 or they are carrying a trading volume of $15,000.
For both types of users, the IQ option Limited is providing the VIP account to the traders but they should be from non-EEA countries. Hence, after knowing about the various accounts for which one May opt for now you can decide which type of account is suitable for you and from which you want to start.
How to make deposits on the platform:
- One has to deposit a minimum of 10 GBP/EUR/USD or any kind of currency to get started with the platform.
- One can choose any type of currency in which they want to make their deposit and there are no depositing fees taken by the platform.
- For making your fault deposit you have to verify your account by adding your phone number and some personal details with your photographs.
- There is different information needed to deposit the money in different countries and you have to submit all of them accordingly.
- One can deposit through various platforms which the option is providing you.
How to withdraw the amount?
- The withdrawal method on the IQ option will depend upon the depositing method. The source which you have to choose to deposit the amount will be the withdrawing amount source.
- One will get the return for that deposits made within the 90 days and one can get the refined to this amount only through their credit or debit cards. If the amount is over this then one has to withdraw via bank transfer or through their e-wallet.
- Your request for withdrawing your money will be processed within 3 business days.
- But as we know that IQ Option is a safe and Secure method hence they need some identification documents before processing the withdrawal funds:
- You have to submit your photo along with your valid ID like a passport for a driving license.
- If you have had deposited through bank card then you have to post an image of your bank card from both sides along with hiding it CVV number and the middle number of your account number.
Henceforth, by applying through the above methods you would be able to withdraw your funds from the IQ option platform.
All about IQ option platform:
- On the platform, you will see a chart in the centre with buying and sell boxes on the right-hand side.
- Your balance trading amount along with your assets will be on the top of the platform.
- On the top left side of the platform, you will be able to choose the instrument through which you want to trade.
- On the right side of the graph, you can choose the type of asset and you will also see a buy and sell option. There you want to submit an amount of asset you want to purchase and then you can submit it.
- Even you would be able to choose the type of asset you want to start with.
- There is an end number of options which type IQ option is providing for their traders.
- Even you may go to chats, trading history, and customer support very easily through the platform.
- There will be a resources section which will provide you with training to start with trading techniques.
- Even when you sign up with the account you will get an option to start with a demo account to learn more about the platform and the demo count is same as the live account.
Order types and a brief of their use:
There are many types of order which one can avail on the IQ option we will discuss them below in brief:
- Multiplier orders- This is risk-taking order which has to be used only by the experienced traders. In this is the amount of return on any deposit or the investment will increase and the level of risk will also increase. As in this trade if the return is profitable then it will be very higher but if it goes towards loss then loss that will be doubled too.
- Order of stop-loss- In this type of trade, the trader has to fix a maximum amount of loss. If that limit reaches then your trade will get stopped automatically to protect the deposit from a major loss.
- Order of Taking profit — In this, the trader has to set the maximum amount of profit they want to get and after that, the trade will get automatically closed.
- Stop trailing orders- In this, you would be able directly to remove the changes in the trade to prevent the losses.
- Pre-order — The preorder is a technique in which you enter amount in which you have to enter the market and when the market reaches it you will be able to start your trade.
Mobile integration feature of the platform:
- The platform is also providing easy access to the mobile of the trader. Therefore, the trader could start trading through mobile trading options easily.
- Even one can get the notification through the app or they can push the notifications to push notification option.
- The trading options to the app will be the same like as on the website but much easier and handy.
Testimonials and training:
- To provide a better experience to the customer the IQ option is providing many trading videos and the tutorials so that trader can watch them to least more.
- These tutorials will help the traders to do better trading for earning good return for their Investments.
Awards for the work:
Over the period IQ option has won many awards for the successful running of their platform. The list of awards is little big hence we are mentioning a few of them here.
- The best binary broker award.
- 2020 award of Excellence-the biggest honor for the IQ option.
IQ Option Review – Is The Broker Secure For Binary Options Trading?
IQ Option has one of the best user-friendly binary options trading platforms in the market, which is equipped with advanced charting options, a large number of financial assets, and a reliable trading environment. IQ Option’s regulatory status and popularity also play a fundamental role in the broker’s continued popularity among all categories of traders in the financial markets.
IQ Option Overview
IQ Option is a European-spec binary options broker that has concentrated on providing a wide range of binary options products to traders from all over the globe. IQ Option is a verified and reliable binary options trading company that is prominently featured in the markets due to its exposure to the market and its market penetration. Countless new companies and even existing binary options brokers hope to replicate the success enjoyed by IQ Option. Nevertheless, IQ Option continues to innovate and evolve to keep abreast of the market changes and the ever-changing requirements of traders.
Is IQ Option capable of continuing its dominance in the market to give its competition a run for its money? Are there any IQ Option trading pitfalls that may affect the integrity of its customers? Read our IQ Option broker analysis that not only covers the platform evaluation, assessing payouts, and trading features, but also takes a look at the different aspects of investing in the markets.
Information on IQ Option Regulation, Company Fact Sheet, & Awards
IQ Option operates from Limassol, Cyprus, which is a European country that is a prime player in the European Union and the European Economic Area agreement. Cyprus is home to some of the largest financial companies in the market and is especially popular among the leading Forex and CFD brokers around the world. All financial companies in Cyprus are required to be regulated by the Cyprus Securities and Exchange Commission (CySEC), which derives its operational policies and framework from the EU Markets in Financial Instruments Derivatives (MiFID).
Even though IQ Option primarily operates from its headquarters in Cyprus, the broker has also set up satellite offices in different parts of the world, the chief among which is its office in Seychelles. Seychelles is a tax haven that offers attractive investment opportunities to companies such as binary options brokers, but it must be mentioned that EU regulation is more than sufficient to verify the authenticity of IQ Option.
IQ Option is owned by IQ OPTION Company Group and is officially known as IQ Option Europe on the European continent. The company was launched in 2020 and quickly went on to become a leader in the binary options trading market. As of 2020 estimates, the company has serviced more than 14 million accounts and has transacted close to $ 11 billion volumes per month as the average throughout 2020. The company claims to process more than 3 million orders per day, which does sound like a reasonable number, given the fact that there more than 14 million live accounts currently operating from the IQ Option platform.
IQ Option has its presence in more than 178 countries and has received multiple awards, including the ‘Best Binary Options Broker’ and the ‘Best Binary Options Platform’ awards at numerous award ceremonies. IQ Option has more than 12 distinguished awards and recognitions to its name, which makes it one of the most-awarded binary options brokers that we have ever reviewed.
Coverage Of IQ Option Financial Instruments & Tradable Assets
IQ Option has recently announced its decision to increase the number of financial instruments available for binary options trading. At present, IQ Option offers around 70 assets in total, but the company plans to increase the count of tradable assets from individual financial markets to take the number beyond 10 Million options. IQ Option proposes to include around 7845 stocks, 4288 ETFs, 188 Forex pairs, along with a vast amount of commodities, indices, and other options. Regardless, we have compiled some of the most popular and widely trade assets, according to recent company metrics:
Forex Currency Pairs: CAD/CHF, EUR/AUD, GBP/AUD, AUD/JPY, GBP/CAD, GBP/CHF, EUR/CAD, USD/CAD, CHF/JPY, AUD/USD, EUR/USD, EUR/GBP, USD/CHF, EUR/JPY, NZD/USD, GBP/USD, EUR/RUB, USD/RUB, GBP/JPY, USD/NOK, USD/JPY, AUD/CAD, EUR/NZD, USD/SEK, USD/TRY,
Stocks: Twitter, Alibaba, Yandex, Baidu, Apple, Cisco Systems, Facebook, Google, Intel, Microsoft, Snap Inc., Oath, AIG, Amazon, Tesla, Nintendo, CitiGroup, Goldman Sachs, Coca Cola, JP Morgan Chase, McDonalds, Morgan Stanley, Nike
Commodities: Gold, Silver
Indices: Bitcoin, DFMGI (Dubai), TelAviv-25, Hang Seng, IOTUSD, ETHBTC, BTCUSD, XRPUSD, DSHUSD, LTCUSD, LTCBTC, ETHUSD
It is indeed marvellous news that the broker has decided to increase the market exposure by adding new markets and new assets, which can benefit a larger group of investors. IPQoption is relentless in its efforts to improve its credibility in the markets, which is a good sign that IQ Option is dedicated to refining its services and products for its clients.
IQ Option Fees, Payouts, & ROI Analysis
Under no circumstances do IQ Option clients need to pay any fees or costs for trading, as unlike FX and CFD brokerages, IQ Option provides a binary options service that only has two market participants. The broker offers an option to the trader to call or put an option with a predetermined expiry time, and it is up to the trader to either invest in the markets or refrain from trading. Once a trader decides to invest in the market, there are only two possible outcomes; gain or lose money, hence the term binary options trading. Therefore, IQ Option is entirely free of any fees or costs of trading.
The sheer number of options and assets do allow traders to trade any binary options as they desire, and the payouts differ according to the option and the market condition. IQ Option offers a maximum ROI of up to 92% on certain instruments, but overall, expect the payouts to be in the region of 65% to 90% on average. The minimum investment for a binary option is $1, with a maximum limit set for $5000.The maximum investment limit of $5000 may seem to be way too high than regular trading limits set by other brokers, as some of the leading brokers typically limit maximum investment per trade to $1500. Therefore, it is essential for traders to be careful about their investments, as investing $5000 per trade can result in massive losses during prolonged losing streaks.
IQ Option Platforms & Trading Conditions
IQ Option’s trading conditions are not far off from what is offered as standard for most binary options traders. For instance, IQ Option follows the classic high/low trading concept, which is divided into regular and Turbo options. There might not be as many binary options products and trading options at IQ Option as one might expect from a large broker, as other competitors offer a wide range of options to increase the flexibility of trading. Regardless, IQ Option has offered a wide array of financial instruments to choose from, which may be one of the reasons why IQ Option has limited its trading options to the classic trading systems.
To make matters easier for traders, and to ensure a full range of customizable options, IQ Option has designed and developed an installable binary options trading platform. The IQ Option desktop trading interfaces are available for Mac OS, Linux, and Windows operating systems, thereby covering the entire desktop trading market. However, the company has not provided any information on the availability of a Web Trader interface, which might have offered convenient trading options for traders while on the move.
The binary options trading platform for desktop offers advanced charting options, custom-tailored trading dashboard, and a wide suite of trading tools to help traders make the best use of the available resources for investing successfully. The IQ Option trading platform offers a premium feel and is one of the most advanced trading interfaces that are available in the market.
IQ Option Mobile Apps
The primary shortcoming of an installable desktop-based trading interface is that it cannot be scaled down for mobile devices. Normally, binary options brokers offer web-based trading interfaces that can be accessed on all types of devices, including desktop and mobile operating systems. Smartphone and tablet users sometimes access their binary options accounts through their device’s web browser and can enjoy all the features and functions at a single place.
However, IQ Option has chosen to take the more expensive route of providing dedicated trading platforms for individual devices. Therefore, IQ Option mobile trading is facilitated through the dedicated apps developed for iOS and Android operating systems. IQ Option recognises the importance of mobile trading apps and its significance in the modern world of investing, which is why the company has moved ahead with providing excellent mobile trading interfaces that offer comprehensive market access for binary options trading.
A Sneak Peek Into IQ Option Minimum Deposit, Withdrawal, & Account Funding Options
IQ Option has catered to the basic requirements of the traders by understanding their needs perfectly. Typically, binary options brokers may require its clients to make larger investments, to the tune of $100 to $500 for a binary options trading account. Although such an amount is not a hefty investment by any means, it may still be a considerable investment for many traders. Therefore, to ensure that IQ Option covers a large part of the market, the broker has specified a minimum deposit of only $10. Of course, there are brokers that offer trading accounts for as low as $1, but IQ Option has certainly made the job easier for traders to open a binary options account at a regulated broker.
The broker has also specified a minimum withdrawal limit of $2, which is certainly the lowest amount of money that you can withdraw from a broker. In order to support such low payment options, the broker allows its traders to fund and withdraw using online payment processors such as Skrill, Webmoney, and Neteller. Of course, you can also make a deposit and withdrawal using a Visa and MasterCard, but the transactions may involve additional costs for payments.
IQ Option has made it a priority to process all withdrawal requests and has successfully paid more than $5.7 million a month in profits alone in 2020. It is indeed a staggering amount of money, especially when brokers these days try very hard to hold on to their clients’ investments by stating bogus reasons. IQ Option has also been successful in lowering its withdrawal time to within 24 hours, and the trend seems to suggest that the company will decrease it further in the coming years. Together with EU regulation, you don’t have to worry about the safety of your funds at IQ Option.
IQ Option Bonus
Once again, the problems of regulation bring to fore the issue of bonuses and free promotions. IQ Option does not support any type of bonus or offers on deposits, as it is illegal for EU companies to indulge in any type of bonus program or promotional campaign. It is further difficult for the company to bypass these restrictions through its Seychelles operations, as almost all traders who opt for an IQ Option account does so to enjoy the protection offered by CySEC and EU regulation. If you are concerned about the unavailability of a bonus, you should consider some of the other brokers listed on our recommendations page.
Nevertheless, if you are confident of your trading ability, and if you have been consistently in the profits, IQ Option offers a chance for traders to compete with each other through their proprietary tournaments. These tournaments offer a cash prize, which can either be used for trading or can be withdrawn completely without any restrictions. Therefore, it is possible to enjoy a cash bonus at IQ Option, provided you are talented and skilled enough to beat the competition.
IQ Option Demo Trading
Trading with a virtual account is imperative for evaluating the performance of a platform and for getting familiar with the concept of binary options trading. In this regard, some binary options broker may fail to provide a demo account, while some companies limit the demo features. IQ Option, on the other hand, offers a free and unlimited demo trading account, which offers up to $1000 in virtual balance. The demo account is an accurate representation of the trading conditions offered to real traders and should act as a perfect test bed for potential customers before opening a real account at IQ Option.
IQ Option Customer Service Channels
Contacting the IQ Option customer support department is possible through online live chat, email, web contact form, and country-specific numbers in Europe, Africa, and Asia-Pacific. IQ Option offers a reliable platform for customer interaction, where almost all problems are solved within an hour at the maximum. The company has more than 39 specialists that work around the clock to provide expert assistances to its clients and has brought down its chat responsiveness to less than 46 seconds, all the while improving its efficiency. The company also claims to have closed its customers’ tickets in under 24 minutes, making it one of the most responsive and reliable customer service departments in the entire binary options market.
IQ Option Tutorials & Resources
IQ Option offers a highly detailed and trader-oriented video tutorial section that provides all the necessary information through short, but meaningful video presentations. However, the company does not provide any technical analysis, market research, or other information that may help traders in making informed decisions in the market. Immaterial of the fact that the company has deliberately avoided providing such services to the clients, we would recommend IQ Option to provide news and economy section, which will give some sort of credibility to the broker’s trading resources.
IQ Option Verdict
- IQ Option provides a regulated trading service that is supported by many years of verified customer testimonials.
- The company constantly innovates its services to provide an improved trading platform.
- Dedicated trading platforms for desktop and mobile devices.
- Large number of financial instruments, with more assets scheduled to be added in the coming months.
- Low minimum deposit and withdrawal options, accompanied by lower minimum investment for trading.
- Excellent customer support.
- No bonus on deposits.
- The number of options and products are limited.
Is IQ Option suitable for smaller traders?
IQ Option specifies only $10 as the minimum deposit for its account holders, and traders can start trading from $1. The broker also approves smaller withdrawals from $2.
How long will it take for IQ Option to process my withdrawal?
A majority of withdrawals are processed within a day, but offline withdrawals such as bank wire and checks may take longer. Nevertheless, 75% of withdrawals are guaranteed to be processed within 24 hours.
Is IQ Option a scam broker?
No, IQ Option is a fully regulated broker that is EU authorised under the EEA agreement and MiFID derivatives. IQ Option is regulated by the CySEC regulatory authority of Cyprus.
Does IQ Option provide mobile trading support?
Yes, IQ Option provides complete mobile trading support through its dedicated mobile trading apps designed for both iOS and Android operating systems.
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