Last Updated on July 23, 2020
IQ Option Review
What is IQ Option?
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 Singapore, Malaysia, South Korea, Hong Kong, Thailand, India, Vietnam, Indonesia, South Africa, Nigeria, 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 its trading platform and application, and quality of its 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 offer by them during traditional market hours during weekdays.
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.
How many assets can be traded at IQ Option?
IQOption made some huge changes to their 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 class of assets, IQOption also offers to 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 brokers in recent months and we must say, they seems 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, Litecoin,…
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/monthly if your account hasn’t trades and transactions for 90 calendar days.
Also, there is a $31 withdrawal fee for bank transfers.
What is their max leverage?
The maximum leverage is 500:1 (Non-EEA traders), and 30:1 (EEA traders).
Research & Education
Their educations tools include video tutorials, economic calendar, 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 the 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: They provide Swap-Free Accounts?
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 30-day validity. 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 “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.
Does IQ Option offer bonus?
While IQOption offered several promotional signup bonus offers in the past, at the time of writing this review, we did not find any promotional offer. However, you should definitely check their website to see if they are offering any promotional offer for new or existing clients.
They take customer service to be the most vital aspect of becoming a successful broker. That’s why they are perhaps the only broker who listed the email address of their CEO on their website. Yes, if you want to reach out to the CEO of the company, then you can shoot an email to Dmitrii Zaretskii, the CEO, at firstname.lastname@example.org
However, we would suggest that for general queries and customer support needs, you stick to emailing their support department at email@example.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 can pay them a visit at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus.
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 themselves 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 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.