IQ Option Review 2024

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CFDs are sophisticated trading instruments that can amplify losses due to their use of leverage. 83% of retail CFD accounts lose money. Before you dive into CFDs, you should consider if you understand how they work and whether you can afford to take the high risk of losing your money.

IQ Option has come a long way since starting out as a premium binary options broker back in 2013. Although they have retained the IQ Option brand, over the last few years, they have massively diversified their asset offerings that now include Forex CFDs, crypto CFDs, commodity CFDs, ETFs, and options.

Hence, it is safe to say that IQ Option is no longer a run-of-the-mill binary options broker, but a fully functional online trading platform.

In fact, if you are a resident of the United Kingdom or the greater European Union, you can no longer trade binary options at all with them. However, IQ Option still offers binary options trading to worldwide clients, including Malaysia, South Korea, Thailand, Brazil, India, Vietnam, Mexico, Peru, Philippines, Singapore, Indonesia, South Africa, Nigeria, Somalia, Saudi Arabia and UAE.

IQ Option was initially founded in the African island nation of Seychelles. Soon they expanded their operation in Europe and currently, their European operation is conducted under the subsidiary, IQ Option Europe Ltd, which is regulated by the Cyprus Securities and Exchange Commission (CySEC License No. 247/14).

Besides CySEC, IQ Option also abides by the European Union`s Markets in Financial Instruments Directive (MiFID) rules.

For all clients not based in the UK and EEA  countries, all their trading accounts will be run by IQ Option Ltd, a company based in St.Vincent and Grenadines.

IQ Option around the globe

How does IQ Option work?

Just open a free account, test its trading platform with a demo account of $10,000, and start trading over 25o instruments with a deposit of only $10.

Regulation & Trust

Is IQOption a legit and regulated broker?

Yes, it is. IQ Option is a trusted broker. They’ve received a lot of awards for their trading platform and application, and the quality of their services.

All UK and EEA accounts are managed by IQ Option Europe Ltd, regulated by CySEC (Cyprus Securities and Exchange Commission License), with license 247/14.

All client funds are kept in segregated accounts, they are separated from the general assets of the company.

Trading Platforms & Tools

Unlike most Forex & commodities brokers, IQOption offers a fully cloud-based trading platform. Once you sign up as a client, you will be able to access their trading platform from virtually anywhere with a browser and execute your trades on the fly, without installing any additional software on your PC.

The best aspect of having a cloud-based trading platform is the ability to use any operating system and still use the familiar user interface regardless you are using a Windows PC or an Apple computer.

IQ Option download

Nonetheless, if you execute a lot of trades and require faster execution, IQ Option also offers an offline version of their cloud-based trading platform that you can download and install locally.

IQ Option understands that a lot of professional traders depend solely on technical analysis for making trading decisions and you would find their free charting package adequate for advance analysis. Besides line chart tools, IQ Option’s trading platform also features advanced technical analysis tools and indicators.

For example, you can use also Candlestick trading charts to conduct your technical analysis with IQ Option’s native trading platform.

As you can see, almost all major technical analysis indicators are included in their cloud-based trading software, including Bill Williams’ Chaos trading system that requires a combination of several indicators, and many more common indicators like the Average Directional Index (ADX) and Commodity Channel Index (CCI).

You would be satisfied to know that this financial firm is one of the handfuls of brokers who are currently offering over-the-counter (OTC) options trading. Also, you can trade all of the other assets offered by them during traditional market hours on weekdays. However, please note the OTC is not available to EEA traders.

IQ Option Mobile Trading

In addition to the innovative online trading platform for desktop computers, the IQ Option trading platform is also available as mobile apps for traders who are busy professionals and need to access the market on the go. If you hold a day job, then you can still trade the various assets offered by them through their smartphone apps that have almost identical trading features for both iOS and Android devices.

Instruments

How many assets can be traded at IQ Option?

IQOption made some huge changes to its asset offerings and introduced a lot of new currencies, stocks, ETFs, Cryptocurrencies and FX options. Also, they allow you to trade various commodities like Gold.

Currently, IQ Option traders can trade 185 stock CFDs (Tesla, Amazon, Apple, Spotify, Twitter, Poste Italiane, IBM, Coca-Cola, Google, Juventus Football Club, Alibaba, Microsoft, …), 24 ETFs ( S&P 500, Gold Miners, Down Jones Industrial Average,…), 58 Forex pairs (AUD/JPY, AUD/USD, AUD/SGD, EUR/USD, EUR/ZAR, GBP/CAD, EUR/GBP, GBP/AU,…), 4 commodities (Silver, Gold, Crude Oil WTI, Crude Oil Brent)  and 28 Cryptocurrencies ( Bitcoin, IOTA, Ethereum, EOS, Stellar, NEO, Bitcoin Cash, Ripple, Litecoin, Dash, ZCash, Tron,…).

In addition to these above-mentioned classes of assets, IQOption also offers non-EEA traders over 10 million combinations of options ( binary and digital) to traders across different markets, including Forex, Stocks, and Crypto.

We have covered a lot of different online brokers in recent months and we must say, they seem to have the most diverse collection of trading instruments in the European market right now.

Does IQ Option offer Crypto?

Yes, You can trade the most popular cryptocurrencies CFD on its platform, including Bitcoin, Ethereum, EOS, Ripple, IOTA, Bitcoin Cash, and Litecoin,…

Trading Conditions

What are the IQ Option Spreads?

They have variable spreads depending on leverage and market conditions, however, the average spreads (eg: EUR/USD 14 pips )  for the most popular currency pairs are pretty high in comparison to other competitors, so they need to make improvements in this area.

What are their fees and commissions?

They have an inactivity account fee of €10 if your account hasn’t traded and transactions for 90 calendar days, and then 10€ each subsequent month.

Also, there is a $31 withdrawal fee for bank transfers.

What is their max leverage?

For non-EEA traders, the maximum leverage is 1000:1.

For EAA countries the leverage is the following:

• 30:1 major currency pairs ( eg: EURUSD, AUDUSD, AUDJPY, EURGBP,..).
• 20:1 non-major currency pairs and gold.
• 10:1  for commodities other than gold.
• 20:1 to 5:1 for indices.
• 5:1 for stocks and ETFs.
• 2:1 for cryptocurrencies.

Research & Education 

Their education tools include video tutorials, an economic calendar, a news feed and online trading tournaments.

Type of Accounts 

If you are wondering which type of account you should open with them, then let us give you the good news: they only have a simple sign-up process and offers a unified trading account. With a single IQ Option live trading account, you will be able to trade all the different types of assets offered by the broker.

Furthermore, if you are an international investor who is not a UK or EU citizen, you can enjoy short-term binary options assets, where you can open option trades with a time validity of 15 to 40 minutes. IQ Option also has a Turbo option for international traders that allows binary options trading with as low as a 5-minute expiration time.

Forex Islamic Accounts: Do they provide Swap-Free Accounts?

Yes. All its clients who follow the Islamic faith can request an Islamic trading account with interest-free trading

What is the minimum deposit on IQOption.com?

IQ Option platform makes it accessible for all kinds of traders to open and start trading with them. To support smaller investors and anyone who is just starting out, IQ Option is currently setting a minimum deposit of $10 or €10, depending on which currency your live account is denominated.

While you can allocate as little as $1 per trade, you can also make small withdrawals. IQ Option currently allows traders to withdraw as little as $2 per transaction. By contrast, if you want to withdraw a huge amount of profits, they will allow you to make a withdrawal of $1,000,000

IQ Option Demo Account

As a premier broker, IQ Option also offers potential customers a free demo account that comes with no time limits. If you are new to trading or just want to try out IQ Option’s web-based trading platform, opening a demo account would provide you with the opportunity to play around and get familiar with their platform before opening a live account.

How to Open an IQ Option real account?

Just click on the button “Trade Now” or “Free Practice Account” to go to its registration page. You should fill up basic details such as “First name”, “Last name”, “Phone number or Email”, and “the password” you choose. You can use your Facebook or Gmail account to speed up the registration process.

Deposit and Withdrawal Methods

When it comes to depositing and withdrawing money with IQOption, they got you covered. As a client, you can deposit funds to your live account with IQOption by paying with major credit cards (Visa and MasterCard). However, if you are depositing or withdrawing a large sum, we would recommend that you stick to a bank wire transfer in order to reduce transaction costs.

Besides credit cards and bank wire, they also offer several novel payment methods, including popular e-wallet providers like WebMoney, POLi Internet Banking, Skrill, and Neteller.

Promotions

Does IQ Option offer a bonus?

While IQOption offered several promotional signup bonus offers in the past, they no longer provide any bonuses at all due to regulatory requirements.

Customer support

They take customer service to be the most vital aspect of becoming a successful broker. That’s why they are perhaps the only broker that offers dedicated phone numbers to many countries.

We would suggest that for general queries and customer support needs, you stick to emailing their support department at support@iqoption.com

If emailing them seems like a slow method of getting a response, then you can also dial their customer support in 18 different countries in the following numbers:

Nonetheless, if you want to drop by at their European operations office in Cyprus, then you will see their big office at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus.

Languages

Its website and trading platform are offered in 17 languages: English, Chinese, Thai, Indonesian, Vietnamese, Turkish, Hindi, Korean, Russian, German, Spanish, Portuguese, Italian, French, Swedish and Bengali.

IQ Option Review: Summary

While IQ Option stopped offering binary options trading to UK and EU nationals, they have added a massive amount of new trading instruments for traders in these two target markets, and from other users from around the world to make up for that void.

With one of the most user-friendly and aesthetically pleasing trading platforms in the industry, IQ Option has positioned itself to be a premier broker in the European market

As CySEC regulated broker, IQ Option is required to hold customer funds in segregated accounts, which means their day-to-day operation and client’s funds are dealt with separately to provide the added security of trader’s funds.

If you are looking for a trusted partner to trade a large number of assets, IQ Option’s latest offerings make them one of the top contenders in the industry.

Frequently Asked Questions about IQOption

Author of the IQ Option Review