Forex Brokers

IQOption Broker Review

Are you interested to read IQOption Broker Review? Learn about IQ Option in detail and know if it is safe to trade on this platform. Furthermore, in our comment section, you can always ask us questions about this broker.

Overview

IQOption

IQ Option Logo

Min Deposit

$10

License

In Cyprus as Fideles Limited

Leverage

1:500

Platform
Windows
macOS
Web
Mobile

Min Trade

$1

Founded

2013

IQOption is a Cyprus-based legitimate binary options broker. The broker is well known for its advanced trading platform, extensive trading options, and competitive fees.

Founded in 2013, IQ Option is now preparing to celebrate its successful journey of ten years in financial markets.

Right after a year of its establishment, in 2014, the broker was awarded “Best Trading Platform” by Forex Awards. The online review organization recognized the IQ Option trading platform as a blueprint for the trading industry.

IQ Option enables you to execute the call and put options for all trading instruments, including forex, stocks, cryptocurrencies, Commodities, and ETFs.

Besides, they offer multiple deposit and withdrawal options with minimal transaction costs. The trading commission and fees are also competitive compared to other top options brokers.

Furthermore, the broker comprises education, blogs, business calendars, margin calculators, mobile apps, and more. These useful trading features reflect the positive effort of the broker to work more closely with their valued clients.

This article represents an interactive guide showing you how to open an account and start trading with IQ Option. Also, it explains all the essential features of the broker that make your trading life more convenient and progressive.

IQOption Broker Review

IQOption Regulation

IQ Option is locally registered in St. Vincent and the Grenadines, registration no. 905 LLC 2021. Besides, the broker got licensed in Cyprus as Fideles Limited, registration no. HE 406368.

The company is yet to announce its international regulatory body. However, the rising trend in their number of clients and global expansion suggests the company has established itself as a legitimate and trustworthy trading partner.

Safety and Security

The safety and securities of funds are the primary factors that strike our minds when we think about trading and investment. Any trader would look for a guarantee of their fund security unless they plan to invest blindly. 

Besides, beginners intend to stick with top-regulated brokers, believing the company will consider all the safety measures to maintain their goodwill.

IQ Option is one of the largest and most established brokers in the Binary Options market. The company reported a total of 48,091,542 registered users from more than 150 countries in 2020. Whereas in 2014, they had less than a million clients. Such massive growth in just six years reflects the ultimate trustworthiness of the broker.

Furthermore, the official website of IQ Option confirms a 2100% increase in trade volume between 2014 and 2020. The company process over $20 million in withdrawal per month at present. These states prove that safety and security have never been an issue with the broker.

IQOption Account Types

iq option review

IQ Option has designed four types of trading accounts depending on the client’s needs. Besides, its practice accounts help beginners to test their option trading skills and strategies for free. 

The real and VIP accounts give you a complete experience of trading in live markets. Also, the broker offers Professional accounts, especially for EU traders, to cope with the new regulation implemented on Binary Options by European Union in 2018.

Let’s have a look at the more detailed description of IQ Options account types and features:

IQOption Real Account

  • Complete trading service
  • 500+ assets, including forex pairs, Stocks, Commodities, and Cryptocurrencies
  • Quick processing of withdrawal requests
  • Access to IQ Option weekly tournament with live chat support
  • Digital and Binary options
  • Minimum deposit: $10
  • Minimum trade size: $1
  • EUR/USD spread: 1.7 pips

IQOption VIP Account

  • Live assistance from a personal account manager
  • 3% additional returns compared to real accounts
  • Monthly trading reports
  • Free access to all trading tournaments
  • Additional educational materials
  • Trading tutorial support

IQOption Professional Account

  • Tailored for EU traders only
  • Binary and Digital options
  • Negative balance protection
  • Leverage up to 1:500
  • Access to any IQ Option tournament for free

IQOption Islamic Account

  • Dedicated to Muslims who strictly follow the Shariah Law
  • No swap fee (you’ll not be charged for holding an asset overnight)
  • Flexible leverage
  • Free online trading platform
  • Average spread: 2 pips

IQOption Demo Account

  • Free practice account to experience live trading
  • Quick and easy to open
  • Opening balance: $10,000
  • Balance is refillable
  • Switch to a real account anytime (subject to verification)

How to open an IQ Option trading account?

If you like to step into Binary Options trading under the best broker service, you need to open an account with the IQ Option for a smooth and immediate start.

Opening a trading account with IQ Option is a quick process that takes only a few simple and easy steps:

1. Signup

  • Visit the official IQ Option website.
  • Click the “Signup” tag at the top-right of the homepage.
  • Input your name, country of residence, and email address.
  • Set a unique password.
  • Check the box to acknowledge you’re 18+.
  • Click on “Open an Account for Free.”

2. Select the Account Type

  • Choose whether you want to open a practice or a real account.

3. Email Verification

  • The broker will send you an email verification link.
  • Click on the link to verify your email.

4. Personal Information

  • Input your name, date of birth, phone number, address, and other personal details.
  • Make sure all the information is valid and correct.

5. Verify your identity

  • Upload a scanned copy of your national ID or passport for identity verification.
  • Upload a scanned copy of your bank statement or utility bill (not older than three months) for address verification.
  • Make sure your IQ Option profile information matches the uploaded documents.
  • You’ll get an e-mail notification once the broker completes your verification.

6. Deposit Funds

  • Select your preferred payment method
  • Set the deposit amount
  • Deposit the fund

7. Start Trading

  • Once your deposited fund becomes visible in your trading account, you’re all set to start Binary Options trading with IQ Option.

Deposit and Withdrawals

IQ Option accepts both e-payments and bank wire transfers for deposits and withdrawals. Its e-payment method includes Advcash and Perfect Money. Also, they accept VISA/Mastercard debit and credit cards as payment methods.

All the deposits made using e-payment methods are processed instantly. For Perfect Money, processing the payment may take up to 1 – 2 minutes. The minimum deposit limit is $10.

The withdrawal features of IQ Option are pretty interesting. They indeed charge you a 2% commission on your withdrawal amount. At the same time, they offer one free withdrawal on each calendar month.

The minimum withdrawal limit is as low as $2. They usually take 1 – 3 business days to process the withdrawal requests made using e-payments. Besides, VISA/Mastercard users can withdraw the funds instantly.

Withdrawal requests of any amount subject to and by the Company Policy, and provided that the Company has no claims against the Client or the Client does not have any outstanding debts to the Company.

In case the client has an alleged complaint on payment issues, the client can submit their complaint, including all relevant particulars and details, to the Company at complaintsglobal@iqoption.com. 

IQ Option will acknowledge receipt of any such complaint, initiate an internal investigation of the matter, and respond to the complainee within a reasonable time. The broker may extend this timeframe if deemed necessary, and in such case, the Company shall notify the client accordingly.

Trading Instruments

IQ Option help traders build diversified portfolios by offering a wide range of trading instruments. Once you open an account with the broker, you’re up for trading CFDs on crypto-assets, ETFs, forex, and stocks.

Forex

The broker has observed a significant rise in forex traders among its clients in recent years. The company believes its competitive spreads and fast order executions are key to attracting fresh forex speculators. 

Its trading platform offers a wide variety of currency pairs to trade. They incorporate all the major fx pairs, including EUR/USD, USD/CHF, AUD/UAD, GBP/USD, USD/JPY, USD/CAD, and NZD/USD. You can find more than 50 forex options on the IQ Option platform.

Stocks

IQ Option has access to major stock exchanges, including Nasdaq, NYSE, and London. It enables you to exchange CFDs on up to 169 best-performing stock resources. These incorporate Amazon, Tesla, Apple, Boeing, and other large organizations. 

You can exchange the more well-known stocks with the broker, making new stocks accessible for exchange now and again. IQ Option doesn’t apply any commission on trading stocks.

ETFs

IQ Option enables you to exchange CDFs on ETFs (exchange-traded funds). This is the place where you join various resources into one bushel, with over 25 ETFs presently accessible to trade. A massive portion of retail financial backers records losing cash while exchanging CFDs because of uncertain market volatilities. Besides, trading CFDs on high leverage implies a huge risk of losing your capital.

IQ Option Trading Platforms

The trading platform is the most important part you want to anticipate before choosing a broker. The features, diversity, and speed of the platform determine your trading atmosphere. Considering this, top-class brokers always weigh on keeping their trading platforms innovative, user-friendly, and highly responsive.

IQ Option has created an all-in-one platform that serves all the broker features from one place. It gives you complete control of your Binary Options trading account. At the same time, it enables you to directly access your profile without logging in to the client’s area using a browser.

Furthermore, the broker has developed its desktop, web, and mobile app versions so that clients can easily engage and access the market whenever and however they want.

Desktop Version

The desktop version of the IQ Option platform is the best place for busy traders who consider the multi-timeframe analysis and fast execution of call/put option orders. It is enriched with all trading features and includes links to your profile and market analysis data prepared by the technical experts of the broker.

This platform has been developed for both Windows and macOS, enabling you to run the software on any desktop computer and laptop.

WebTrader

IQ Option offers a fully functional and creative web trading platform, well-known for winning the “best online trading platform” award in 2014. Once you sign up for an account with IQ Option, you’ll be automatically directed to the web trading platform.

Interestingly, you can keep trading, editing your profile, and controlling deposits and withdrawals by using WebTrader. The advantage is that you’re not required to download and install any additional software to your device to access the market and the client’s area of the broker.

Mobile Trading App

The IQ Option mobile app enables you to instantly access the market, execute the call and put options, track existing orders, and connect to the live customer support of the broker. This app comes in separate versions for Android and iOS (Apple) devices.

The only drawback is mobile apps are not suitable for extensive market research. However, you can still apply the basic built-in indicators for analyzing market trends, momentums, and price levels.

Fees

IQ Option has been extremely competitive among top binary options brokers in terms of transaction fees and trading commissions. Opening an account with the broker is completely free. Also, they don’t apply any charge on fund deposits. However, the company applies a 2% commission starting from the second withdrawal of each calendar month.

Trading with IQ Option is completely free. Place as many Put and Call options you want without paying any extra fee. The swap fee for holding an asset or trading position overnight usually ranges from 0.01% – 0.5%. Although, it may rise to 1.7% depending on the level of market volatility.

The broker also applies an inactivity fee of €10 per month in case a trader remains absent from trading for 90 business days.

Customer Support

The customer service standard of any organization reflects how serious they are with the business. IQ Option support group is custom fitted to oblige the requirements of every client. The broker’s customer support team offers professional and fast client care service, particularly if you’re a beginner to online trading and need help getting everything rolling.

IQ Option support team is accessible daily, and backing specialists are consistently glad to address any inquiries you might have. The broker offers telephone support in English, Spanish, and different dialects.

Additionally, the broker has a broad blog segment where you can track down replies to the most well-known questions and get familiar with a few supportive tips on trading and investment.

Education

IQ Option is a great place to start learning the basics of binary options if you’re a beginner in online trading. It offers numerous educational materials, including text lessons, video tutorials, e-books, and trading journals. 

Although, the learning opportunity is not limited only to its education department. Using the IQ Option blog, you can connect yourself to experienced professionals and share your trading experience and any ongoing issues.

The broker has also published a free course on “the basics of margin trading” on their official website. This course has been specially curated for beginner-level traders in binary options. It covers brief explanations of essential technical terms such as spreads, leverages, swaps, margin, conversions, call and stop out, etc.

Furthermore, you can participate in the monthly live webinars of the broker to refurbish your technical skills in binary options trading.

Trading Tools

Economic Calendar

The IQ Option economic calendar guides you through all the scheduled market events, such as upcoming press releases, news updates, and sensitive financial reports. Apart from tracking the incoming events, you can also use it to review past financial data for forecasting future fundamental outcomes.

Highlight all the major financial events scheduled for each month using the economic calendar. Remain alert and avoid trading during the new release periods. This precaution will help you to prevent conceding massive losses during unstable market conditions.

Technical Indicators

IQ Option has developed over 15 unique trading indicators, including KDJ, Detrended Price Oscillator (DPO), Average True Range (ATR), Accumulation and Distribution Strength (ADS), Fractal, Belkhayate Timing, Relative Strength Index (RSI), Parabolic SAR, and more.

Furthermore, you can select a set of your favorite indicators from the IQ Option platform for creating unique trading strategies. Don’t forget to try the new indicators in demo accounts before applying them for real trading for the greater safety of your trading capital.

Charting Tools

The broker offers various charting tools that are quite useful for price level analysis. These tools include bars, horizontal lines, trendlines, an automatic pivot calculator, hollow candles, supply/demand zone, and more.

The charting tools guide you through precise buy/sell levels, potential trade exit levels, and no trading zones on multi-timeframe charts.

Historical Price Data

Visit IQ Option’s official website, select “For Traders,” and click on “Historical Quotes.” Next, select instruments, timezone, past date, and time to reveal the past price data of your selected trading instrument. This tool will show you the assets’ previous asking, bidding, and quote prices, giving you an overview of the historical changes in supply/demand and broker spreads.

Market Analysis

People from any profession may participate in binary options trading, considering it a part-time job. However, not every trader can carry out regular market analysis tasks. Some traders hire experts or subscribe to agencies offering technical updates or trading signals. Such external services are expensive and may lack trustworthiness.

Considering this, IQ Option has started delivering free daily market updates for its clients. This market report comprises useful technical information such as current market trends, key price chart patterns, and possible formation of buy/sell setups. It is a complimentary service of the broker that saves your time and money. Most importantly, this service makes your trading life more convenient.

Trading Tournaments

IQ Option traders can directly participate in the monthly trading tournament program of the brokers. Besides real account holders, demo traders can also join the tournament (subject to approval). Please note that the broker holds the right to cancel the tournament or change its terms & conditions anytime.

Pros and Cons of IQ Option

Pros

  • Advanced and multi-functional trading platform
  • Large selection of tradable instruments
  • Up to 95% profit payout
  • Instant execution of put and call options
  • Commission free trading
  • Mobile trading apps
  • Education support
  • Market analysis support
  • Additional trading tools
  • Free access to trading tournaments
  • Easy account opening process
  • Simple deposit/withdrawal methods
  • Excellent customer service
  • Live chat support
  • Daily profit/loss statement
  • Once free withdrawal each month

Cons

  • Do not offer full-fledge service to EU clients
  • Do not accept US traders
  • Not regulated by international regulatory bodies
  • Applies inactivity fees

FAQs

Is IQ Option a good investment?

IQ Option is a legitimate platform for Binary Options Trading. It offers complete trading services, including market analysis, charting tools, and fantastic customer support. Besides, over 40 million registered clients of the broker indicate IQ Option is a good place for investment.

Can you make money on IQ Option?

If you remain disciplined while trading and stick to a proven trading strategy, of course, you can make money on IQ Option. Besides, the broker offers a maximum 95% profit payout that helps its clients be more profitable over time.

Why is IQ Option not available in the USA?

The US Commodity Futures Trading Commission (CFTC) doesn’t regulate binary options brokers headquartered outside the USA.

Is IQ Option free?

IQ Option doesn’t apply fees on trading and fund deposits. However, they charge withdrawal fees, swap, and inactivity fees.

Is IQ Option safe?

IQ Option runs under the authorization of local governments in Cyprus, St. Vincent, and the Grenadines. However, the broker is not regulated by international bodies like FCA or FINRA.

Bottom Line

IQ Option has undoubtedly established itself as one of the largest financial brokers in Binary Options trading. Many independent online business review sites highlight IQ Option as the highest expanding broker worldwide.

It only takes opening a single account to access the binary options market that comprises forex, stocks, ETFs, and commodities. Its innovative trading app lets you take complete control of your trading activities using a single platform.

However, before choosing a broker, we always recommend traders start with a smaller investment. Keep trading for a few months, make some withdrawals, and see how the process goes. Once you become fully confident in the broker service, you can always add fresh investments in a step-by-step process.

Also, if you are interested to learn about IQOption Trading Tips and Tricks then you can follow our blog.

If you have any queries, feel free to comment below.

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I have been actively trading the financial markets since April 2012. Besides trading with my personal money I am a technical analyst in a mutual fund that has Rs. 1 billion in assets under management. At my leisure, I love attending live music, traveling, and partying with friends.

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About Trend Following System

Trend Following System's goal is to share as many Forex trading systems, strategies as possible to the retail traders so that you can make real money.

Risk Warning: Trading in the forex market is very risky. Thus, it is may not be for everyone. A highly leveraged position can work against the trader when the trade does not work as expected. Trading in the forex market can cause to lose a significant portion of the capital or all of the capital. It is crucial to learn about the trading and gain enough experience in the demo account before trading with real money. The trading strategies published on this website do not guarantee profit as the market is dynamic and unpredictable. The past performance of a strategy is not the indicative of future performance. Trend Following System will not accept any kind of liability or damage caused by trading the strategies published on this website.