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IQ Option Review

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IQ Option is a reliable and regulated online broker company. It is a scam free company with a long standing tradition in the online trading industry. Their intuitive trading platform is easy to use. We recommend IQ Option to traders at all levels, from beginner to advanced.

IQ-option
Broker NameIQ Option
Year Founded2013
RegulationCySEC
Tradable AssetsETFs, Digital Options, Binary Options, Forex, 250+ Cryptocurrency pairs, Commodities, Stocks
Min Deposit$10
Min Trade$1
Payouts95% Max
PlatformsiOS, Android, Windows, and MacOS
DepositCredit Cards, Debit Cards, Maestro, Skrill, WebMoney, Cash U, Neteller, and Moneybookers
WithdrawalsProcessed Within 1 Business Day

Review Summary:

IQ Option trading platform is intuitive, easy to use and is suitable for traders at all levels. Both, mobile and desktop platform offer traders a variety of different tradable assets. These include cryptocurrencies, forex, stocks ETF’s, commodities, digital and binary options. Spreads and fees are competitive. Deposits are free and so are most withdrawal methods. Smallest deposit is $10.

IQ option features a large library of different educational materials. Compared to other brokers this feature offers beginners a solid ground for a safe start.

IQ Option offers excellent customer support in many different languages including Arabic. Traders from the UAE can use their online trading platform without any restrictions. They can make use of all features including demo account, no deposit fee and free withdrawal.

Established in 2013 as an Cypriot investment company, IQ Option is part of IQ Option Ltd. CySEC (Cyprus Securities and Exchange Commission) accredited this broker with a trading license in the same year.

In this IQ Option review we reveal all the details you need to know about this online broker before trading.

IQ Option Trading Platform 

IQ Option allows users to trade on a sophisticated and easy to use trading platform. The platform allows mobile and desktop trading and is available in 15 languages. Trading features include economic calendars, stock screeners and volatility alerts and market overviews.

The top menu shows your balance in the asset you are trading. By navigating your cursor to the right you will find the BUY and SELL boxes. Trading charts are in the centre. Navigating around the platform is straightforward and is overall an enjoying experience. It is easy to find all the tools and features, everything makes sense.

The IQ Option platform has many useful charting tools which make trading easier. Note that IQ has a trade maximum for both real money and demo account. You can make an investment up to $20,000 in a single trade.

You can use the drop-down menu on the upper left to pick your trading instrument. Options, Forex, Stocks, Crypto, Commodities, Indices, and ETFs will reveal from the drop down. From each of the asset, you can find your specific instruments through a search bar.

Trading on IQ Options is possible from the online interface. On the right side of the graph, you will see the buy and sell buttons. Fill out the amount of the asset you want to trade and confirm your order.

If you have any issues, you can start a conversation with the support team. The resources section is another useful feature. It offers all the training and education material you might need.

You can fulfil your order by using the BUY and SELL buttons on the right hand side. Before you execute the order you need to fill in the amounts you want to trade.

You can use the stop loss and the position automatic closing features under edit order. Stop loss to smallest your loss and automatic closing to save your profit. You can use the multiplier orders feature to multiply your potential gains. The same goes for your losses on the other side. We do not recommend beginners to use this feature when they start trading.

iq-option-buy-sell

Mobile Trading App

The IQ Options app is clean, with an intuitive graphical interface. It includes most of the indicators and tools, available on the standard platform. Traders are using the mobile app to check their trading stats when they are away. Most of the traders are executing the trades on their desktop versions.

IQ option offers some extra features that many traders will find useful. The company claims to be focused on improving the user experience. Additional features offer a comfortable trading experience.

You can enable push notifications that allows you to be always up to date with the trading action. You can also set the alerts on specific price points. This way you will receive an notification once you reach your designated point.
The trading app works on tablets and smartphones, accessible both for Android and Apple iOS.

Technical Research Tools

The online trading platform offers a great variety of charting tools. They help traders to better predict future market movements. The tools include candles, hollow candles, bars, area and lines.

iq-option-charts

Candle charts are the most used charts on the platform. They show a period in time, with colours presenting the amount of volatility between the beginning and the end. Hollow candles are like candle charts. Instead of showing different colours, the positive price movements are full, and negative movements are a hollow.

The platform lets you use area charts that show the price in a line, with shading showing the volatility. Line charts are similar but without the shaded area.

Bars cover your chosen period, like candle charts. They show the prices at the beginning and end of a certain period, with vertical lines. The horizontal lines show the prices at open and close positions.

Indicators

The indicators on the platform help to discover trends and find trades with good profit potential. They have 13 different indicators you can access through the charting interface.

iq-option-indicators

You can use each indicator on its own, or you can go for a combination of them.

Let’s take a look at some of the most popular ones:

Moving Averages (MAs) show you the average trading trends in your specified time periods. They are used with other indicators and include Simple Moving Averages, Weighted Moving Averages, Smooth Simple Moving Averages, and Exponential Moving Averages.

The Moving Average Convergence Divergence (MACD) indicates where moving averages diverge or converge. It lets you compare the relation between Exponential Moving Averages.

The Parabolic SAR is like moving averages. The main difference is its position that is changing with the price and corresponds to higher acceleration. You can observe it in groups or dots.

The Awesome Oscillator shows a visualization of two SMAs. One is fast and the other slow. This indicator helps you observe trend development.

Bollinger Bands are trend indicators that present a dynamic range of the price movement.

Volume Indicators show the amount of the traded asset during a given period of time, showing the intensity of the trading action on the market.

The Alligator Indicator lets you asses market movements. It shows you the movement direction and lets you filter out the Side Bands. This is a cross-functional trend that allows you to discover an emerging trend.

The Relative Strength Index (RSI) shows the strength of the current trend and possible reversal points. It compares the price growth with the price reduction.

The Stoch or Stochastic Oscillator indicators let you know the current price position, comparing it to the extreme highs and lows in a certain time frame. It is the percentage, letting you figure out any potential reversal points.

The Average True Range (ATR) indicates the volatility of the asset over a certain period. It shows the change rate of quotes.

The Average Directional Movement Index (ADX) presents a trend’s strength before the price movement. It can also show a potential change in volatility.

A fractal includes at least five Japanese candle sticks, indicating the local maxima and minima of price curves and possible market reversal points.

Commodity Channel Index (CCI) shows you the speed of the price movements. It helps you discover the upcoming market reversals and is helpful to read the strength of a trend.

Tradable Assets On IQ Option

The IQ Option platform allows users to choose from 100+ different assets to trade. Besides digital options, you can trade with CFD’s on stocks, Forex, commodities, ETF’s and Cryptocurrencies. As of this review they were adding new assets to the portfolio.

For many unexperienced traders, CFDs and options are tough to understand. Let’s explain them in detail here:

  • CFDs are financial derivatives which allow investors to bet on the price of an asset without owning it. You can speculate whether the price will go down (short) or up (long). If you’re right, you profit, if not, you lose. CFD types available on the IQ Option trading platform include CFD’s on stocks, Forex, indices, CFD’s on commodities and cryptocurrencies and ETFs.
  • Digital options trading involves deciding whether the price of the underlying asset is going to increase or decrease. If you choose Call option: you get profit if the closing price is higher than opening price. If you choose Put option: you get profit if the closing price is lower than the opening price. 

Let’s2 look at all the trading possibilities available with this online broker:

  • CFDs on Stocks – IQ Option offers CFDs on stocks from more than 171 different companies. Some of them listed on NASDAQ or NYSE, such as eBay, Slack and Amazon.
  • CFDs on ETFs – ETF trading works by tracking commodities, indices, and baskets of various assets. ETFs are in many ways like mutual funds. They are on exchanges and ETF shares trade throughout the day like ordinary stock. Users can trade up to 24 ETFs on IQ Options.
  • CFDs on Cryptocurrencies – IQ Option offer its users 12 different CFDs on cryptocurrencies. These include: Bitcoin, Ethereum, Ethereum Lite, Ripple, Litecoin, Monero, Zcash, Omisego, EOS, Tron, Dash, and Qtum. Like any other asset on this platform, cryptocurrencies can be traded using CFDs, options or forex.
  • Forex – Foreign exchange is one of the most popular trading instruments on IQ Option. The platform offers around 50 forex currency trading pairs. The most popular currency pairs are EUR/USD, USD/JPY, AUD/NZD, GBP/USD, EUR/JPY.
  • Options – IQ Option is a great online broker for options trading. Users can trade with over 55 different options. The trading platform personifies all the needs of an options trader in one place. From trade expiry to fixed returns everything is flexible and simple.
  • Digital options – Some people find digital options as more convenient. Digital options allow traders to speculate on the price movement of a tradable asset. Traders can only lose as much as they have invested, and they can exit the market if they feel that the losses are too big. Trade position expiry time is between 1 to 5 minutes and the payout can go up to 1000%.
  • FX Options – European traders are the target group for FX options. Most traders opt to combine them with the digital option to get better returns. FX options have an expiry time of up to one hour. Traders have a choice to exit the trade and cut the losses or lock profits before its maturity.

IQ Option offers a great variety of tradable assets compared to other brokers. Their options portfolio is one of the best in the industry. There is a lack with CFDs on stocks and commodities.

How to Sign Up With IQ options?

The easiest way to sign up with this broker is through Facebook, Google, or by using your email address. After you fill in your username and password, you can start using your demo account with $10,000 immediately. It takes one minute to complete the registration. You will notify when you create both – the demo and the real account.

IQ-sign-up

Deposits and Withdrawals

At IQ Option, there is a minimum deposit of 10$. You can select your deposit form and transfer the money without having to pay any deposit fees.

For deposits up to $2000, verification is not needed. In case of larger amounts, IQ Option will demand some proof that you’re a real person. This involves submitting your I.D., bank statement or a bill for utility services. The verification process depends on your residency.

The good news is that IQ Option offers a wide range of deposit methods. You can use debit or credit cards (MasterCard, Maestro, Visa). You can also use other payment processors such as Skrill, WebMoney, Cash U, Moneybookers, and Neteller. At the time of writing, it is not possible to transfer funds via PayPal. You can also send your funds to this platform through Wire Transfer which takes longer – 3 to 5 days. Extra bank fees may apply using this method.

The minimal deposit amount is $10 which is a low entry point for beginner traders.

Withdrawals

Your withdrawal method will depend on the deposit method. If you make a deposit from a card, you will be able to withdraw your initial deposit amount to the card. To be precise, you will be able to withdraw the total amount of your deposits over the last 90 days to your card.

If you make profit and exceed this amount you will need to withdraw this to an e-wallet. This can be either Skrill, Neteller, WebMoney or a bank transfer which will incur a $31 fee.

If you use an e-wallet to deposit, you will be able to withdraw to the same e-wallet account. To withdraw funds, make a withdrawal request on the withdrawal page.

Withdrawal requests process within 24 business hours. In case you withdraw your money to a bank card or bank account it can happen that your bank needs some extra time. They process most of the withdrawals in under 3 days.

This platform has a low minimum withdrawal amount — it starts from $2.

Note that if you want to withdraw your funds, you’ll have to verify your profile. See the “Deposits” for more information on that.

IQ Option Education and Training

IQ Option has one of the best educational platforms in the industry. Educational materials include historical quotes, economic calendars, technical analysis and other useful features. Most of them are available as training videos, webinars and tutorials.

IQ Option offers access to e-books. Their FAQ section is in detail covering most of the relevant questions.

IQ Option Jurisdictions, Languages, and Countries

IQ Option claims to have more than 7 million registered users as of 2020 which is a 150% increase from 2016. These users perform on average around 21,500 transactions per day.

As of this review, the monthly trading volume at IQ Option increased from one million dollars in 2014 to 53 million dollars in 2020.

Their website is available in 17 different languages. This allows users to sign up from almost every part of the world.

iq-option-trading-volume

IQ Option is a CySEC authorised online broker with the license number #247/14. CySEC or Cyprus Securities Exchange Commission is one of the world’s reputable regulatory bodies in the industry. As a regulated broker under CySEC, this means that IQ Option is a MiFID compliant broker. Besides that traders are also protected by the Investors Compensation Scheme. Under this scheme, each of IQ Option’s clients’ funds is under protection up to a maximum amount of 20,000 euros.

Traders accounts from outside of the EEA are under the management of IQ Option Ltd. This is a separate sister company under the authority and jurisdiction of the EU.

IQ Option Banned Countries

IQ Option isn’t accessible to traders in the United States. The U.S have stricter limitations and guidelines which means American users can’t use the platform. Other countries which has similar restrictions include Australia, USA, Belgium, Canada, Iran, Israel, Japan, Latvia, North Korea, Pakistan, Palestine, Russia, Sudan, Syria and Turkey.

IQ Option FAQ

Is IQ Option Legit?

IQ Option is a legit online broker and one of the most trusted companies in the industry. Their sophisticated trading platform along with the great support makes trading on IQ Option a great experience. We can recommend IQ Option to traders of all experience levels – beginner to advanced.

While looking at the IQ Option platform, we went through some that claimed IQ Options is a scam. One of the reasons behind the claims was the fact that they disabled somebody’s account. This caused that the user was not able to withdraw their balance. There were also quite a few people claiming that they’ve lost their money trading on the platform.

If we put the complaints into perspective, there are more positive reviews and opinions than negative. This led us to the conclusion that a small minority had some sort of a problem with this broker.

Is IQ Option Safe?

IQ option is definitely a safe online broker. It is under regulation of the CySEC, which is one of the most reputable regulatory bodies in the industry. The platform has full SSL encryption. The communication is encrypted to meet AES 256 Bit encryption measures.

They have implemented steps to encrypt the web traffic between the trader’s computer system and their servers. This way they ensure that their clients’ personal and financial details are secure.

As of this review, there hasn’t been any public report of the platform being hacked or compromised in any other way.

Is IQ Option A Scam? Final Verdict

This broker meets the highest standards of regulation in the industry. With over 65 million active users in 2019 and over 2 million transactions per day it is still growing. IQ Option is not a scam broker. The low entry fees, great support and demo account features makes it a safe bet for beginner traders.

To sum it up, IQ Option is a great online broker for beginner and advanced traders. Their sophisticated and intuitive platform is simple and easy to use. Demo accounts are free, entry fees are low and trades executed fast.
IQ Option is a CySEC authorised company that holds the CIF licence #247/14. We can recommend it to traders at all levels from beginners to advanced.

Disclosure

All trading involves risk. More than 80% of investors lose in spread bet and CFD trading. As these complex instruments allow for the use of leverage, there is a high risk of losing more money than you have deposited. Before attempting to participate in spread bets and CFDs, consider how well you understand them and if you can afford to lose your money.

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21 COMMENTS

  1. Hey,

    do you know if IQ Option also allows Islamic accounts and if the answer is yes, are there any special restrictions for Islamic users?

    Thank you,

    Andrew

    • Hey Andre,

      yes IQ option does allow islamic accounts and there are no special restrictions or whatsoever you would need to know about before signing up with them. They also have support in Arabic language.

      Let me know if you need anything else..

  2. I read so many reviews saying that that they take really long to process your withdrawals or that sometimes they even don’t process them. What is your experience with this?

    • Hey Tisai,

      I actually did not had any problems when I was withdrawing my money, but I have not used them for the last 6 months..

    • I have also read that people had problems getting their money out of IQ Option. I had not problems at the time I was trading with them. Anyways, my advice before you start trading with binary options is that you try it out on a demo account and try different techniques before going with real money. You can thank me later 😉

      John

    • Hey Bruce,

      I don’t know actually why they do not allow to register US citizens. Basically option trading is allowed in the US, but they have for sure the most strict regulations which makes it quite complex for both – traders and brokers. The process to become a licensed brokers approved by the SEC is quite strict and expensive – this could be the main reason why IQ Option does not allow US accounts.

      Hope that helps in any way..

    • Hey Trevor, it really depends on what you are planing to trade and what your knowledge level is. If you are more into option trading and you are more of a beginner, than IQ Option is a good fit – the platform is really simple to use and makes it easy to learn the first moves and settings. I personally started with an demo account which I am not quite sure if it uses the same indicators as the real account, but it definitely helps you to get started. If you want to trade other assets I would maybe check out some other platforms as well (Plus500 for CFD, eToro for copy trading etc)

      Hope that helps in any way..

  3. Do you know if IQ is using Paypal? I have read a forum thread that this option should be available a while ago. Tnx for the info

    • I have just checked with the officials from IQ Option and they confirmed that Paypal is not yet available to Withdraw money on their platform. Their programmers are working to get this features available soon. Will keep you updated as soon this is available..

  4. Good day sir,my question is for those of us who are from Nigeria,can we make a deposit in our own naira currency equivalent to dollars and as well make a withdrawal in our own currency?Thanks.

  5. Hi,
    I am a new trader of this market, I started using IQ option over experience is okay, But the overnight charges are applied every day for commodity stocks. The same brokerage applied from other brokers also ?? If not please give the broker name. I want to keep the commodity stock for a long time but I couldn’t do it. All my money will go if I keep my stock for a long time. Please help me

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