IQ Option Review – Is it SCAM or LEGIT broker?
IQ Option Ltd
- Free demo account
- Simple to use, yet very customizable
- Many available assets
- Intuitive user interface
IQ Option Europe Ltd (or simply iqoption) is an innovative online trading platform (a broker) that allows traders to make trades with various financial instruments. These instruments include stocks, options, forex, cryptocurrencies and more.
IQ Option started out in 2013 as a binary options broker. In the mentioned year the platform thrived exceptionally and has rightly become one of the fastest growing online trading platforms on the market. In August 2019, there were almost 50 million trading accounts registered with this broker, and every day, these traders make more than one million trades. The monthly turnover is as of now about $ 250 million. (Source: https://eu.iqoption.com/en/numbers)
Currently, IQ Option operates mainly in the field of CFD brokers, where it competes successfully with large brokerage companies such as Plus500 or eToro, but they still offer well known and for many people, favorite, options trading.
As for options, IQ Option currently offers several types of option trading. Binary options and digital options. Most of these instruments can be traded by traders from around the world, but clients from the European Economic Area can only trade FX Options that are similar to other types of trading due to the latest regulations.
Is IQ Option a secure and safe broker? Is trading with this broker worth your while? The answers to these questions and much more can be found in our IQ Option Review below.
Apart from offering you a trading platform, IQ Option sends out training emails that are aimed at helping you to succeed with binary options trading. If you’re new to trading, you’ll find out about hedging, rollover, and so on. The emails are interesting, but if you already know what you’re doing, you might find some of them a bit spammy.
Watch our quick IQ Option video platform review
Is IQ Option a secure and safe broker?
Security is a very important issue for brokers, stock exchanges and other trading intermediaries in general. The problem is, on the internet, you are more likely to run into fraudulent companies than trusted companies. However, we have thoroughly reviewed IQ Option, made hundreds of deals worth a total of tens of thousands of dollars, and now we can share our experience with you.
Whether a platform is safe and not just a scam is probably one of the most important issues for any trader. Everyone wants to keep their data and especially money safe.
For every trader, the word “safe” may mean something else. We will try to answer any possible questions you might have. If you do not find an answer to your specific question in in this review, feel free to ask below in the discussion.
What we do know is that the IQ Option is a company that was founded in Cyprus, a member of the European Union. In the European Union’s regulation framework, IQ Option is supervised not only by CySec, but also by market supervisors in sub-countries, such as the Netherlands’ AFM. French Regafi, or British FCA.
IQ Option is therefore a regulated broker, licensed to provide investment products.
Obtaining the abovementioned license is not an easy task and if a broker already has this license, it may surely be considered a certain sign of quality. A broker must meet a number of conditions in order to obtain this license. These terms apply to client funds, business products, and marketing restrictions. You can read more about CySec regulations on the official website.
In addition to regulations, there is also the issue of our experience. I have personally made more than 10 deposits to this broker using a credit card, bank transfer and Skrill transfer as well as almost 50 withdrawals – also via bank transfer or Skrill.
Withdrawals are usually processed instantly (in case of withdrawal by credit card or via internet wallets) – other withdrawal types are processed within 24 hours on a business day.
If you have any questions, please let us know at the end of this article in the comments section or the official support section, which you can find on the left side of your platform page, once you have completed the registration process. The support takes the form of an online chat and responds within seconds – I have already asked about 5 things that were not clear to me.
What does IQ Option have to offer?
IQ Option is a comprehensive and highly innovative platform that offers traders a wide range of markets and trading instruments. You can currently trade Binary Options, Digital Options, FX Options, Stocks, Forex, Cryptocurrencies, Commodities, Indices and ETFs at the IQ Option platform.
- Shares – As of now, there are 188 companies with tradable shares via CFD contracts. These include some of the largest companies in the world, such as Amazon, Facebook, Google, Apple and more.
- Cryptocurrencies – There are currently 10 cryptocurrencies on offer. Of course, these include some the biggest names, such as Bitcoin, Litecoin, Ripple, Ethereum, but also smaller cryptocurrencies such as Tron, EOS, or ZCash.
- ETFs (Exchange Traded Funds) – Although a novelty on the market, ETFs have already found their way to many traders. Investments in ETFs are often well diversified, thus much safer. More about ETF can be found in this article. Currently there are 25 ETFs on offer.
- Forex – Forex is trading in foreign currencies. This kind of trading is very popular on the IQ Option platform and also very popular in general. Currently you can trade up to 74 currency pairs.
- Commodities – Commodity trading has become very popular in recent years and therefore it is a stable part of this broker’s platform. In total, you can trade up to 5 commodities at the IQ Option platform. The offer includes gold, silver, WTI, Brent and platinum.
- Stock market indices – Whether commodity indices or stock indices, both provide a comprehensive view of a particular market segment. They are a reliable indicator of how the entire market is doing. Currently, the IQ Option platform offers 10 stock indices. DAX 30, S&P 500 and others.
IQ Option Demo Account
Like many other brokers, IQ Option also offers a demo account, which is an undoubtable advantage for anyone who just wants to try trading with broker.
But what makes this demo account so special and what makes is stand up among its competition is the fact that it is completely free and unlimited. Opening a demo account is not conditioned by filling in any personal information (KYC verification) and is not limited in time. The demo account will automatically receive $ 10,000 in virtual money, with which you can try trading all available instruments.
When you run out of this virtual money, all you have to do is click a button to apply for new funds and within seconds, your practice account is filled.
IQ Option Demo Account really is worth a try. It is not a coincidence that the very thing that made this broker famous was this particular demo account. It can be set up within minutes. Just click the green Start Trading button above on this page and then just walk through the short sign-up process, which can be completed within 2 minutes.
IQ Option – The Platform
IQOption offers a truly splendid demo account, however, that is not the only thing that makes this broker famous and truly unique.
So, what is it?
You may have guessed it – their constantly improved platform.
The modern platform offered by this broker is really unique and stands out from all other platforms that you can find on the market. You will remember this platform even if you just use it once. Dozens of developers are constantly working on the platform and they, together with professional traders, tune even the smallest details in order to make most of the user experience.
IQ Option has had the platform developed and specified for their particular needs, not like most other brokers who just bought it and therefore offer the same software solution as everyone else.
This means that no other broker can use this platform, and this of course is a massive competitive advantage.
Watch our IQ Option video platform review
|Broker||Info||Bonus||Demo||US Traders Allowed||Open Account|
|Payout: Up to 91 %*
Min Deposit: $ 10
|FREE DEMO ACCOUNT||Trade Now!
|*in case of correct prediction|
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Preview of the IQ Option Trading Platform
In the picture below, you can see what the platform looks like. Modern, well arranged and fast. Speed is one of the most important things in short-term trading, and with IQ Option platform you can open a trade in less than one second.
What else could you wish for?
In addition to these features, the platform also offers a range of sophisticated trading tools available to every trader. These tools include various kinds of graphs, such as candlestick, haiken-ashi or line graphs, as well as a number of several dozen available indicators, such as moving averages, RSI, MACD, Bollinger bands etc.
What is also great is the fact that the platform is absolutely intuitive. You will learn how to control it within few minutes, even in the demo account.
By using the mouse wheel, you can zoom in or out, and by dragging the mouse you can move the charts. On the bottom left (in the picture below) you can see buttons that are used to add indicators, trendlines and similar things that we have only done in the outdated Meta Trader program so far. However, IQ Option doesn’t have MT4 support – but it doesn’t need it either. The platform is a few years ahead of its time.
- A: Other traders’ opinion on market development (sentiment)
- B: Last open assets (quick selection, more assets are under the (+) icon to the right)
- C: Expiration time selection for FX options
- E: Trade size (amount) selection (trades starting at $ 1!)
- D: Button for depositing funds into real account or to top up a demo account
- F: Execute PUT option or CALL option
Of course, the broker offers its platform not only in the form of a web platform; It is also available for virtually any device – for desktop computers (Mac and Windows) and mobile phones (Android and iOS). If you like to do business on the go, you can have their great mobile app right at your fingertips. More about the mobile application can be found below.
IQ Option Registration and Verification Process
If you already have registered with a broker before, you know how the registration process works. If not, read on, and we shall explain!
It’s easy. Just go to the official broker site, link for quick access is here – IQ Option registration and click the Start trading button.
If you want to try the platform first (and we cannot recommend this enough) and you only want to open a demo account, you will only be required to confirm your email address (which you used to register) and confirm your phone number.
To open a free demo account, you do not need to do anything else.
If you want to trade with real money and make a deposit in your account, there is no need for verification. However, this only applies to a deposit up to a maximum of $ 2000. If you want to deposit more than this amount, you will need to verify your trading account.
(In some countries, due to their national regulations, account verification is required before making your first deposit. However, as people from all over the world visit our site, the list of countries would be too long for us to complete.)
To complete verification, you must:
- Fill in the questionnaire about your trading experience, which takes about 2 minutes.
- Verify your identity by submitting a photo or identity card scan (passport, identity card, or driving license)
- Verify your address by uploading a photo or scan of a document that clearly shows your mailing address. This could be, for example, a bank statement (which you can have your bank print for you for free) or a gas or electricity bill.
If you’ve submitted the documents in the correct format and everything is OK, your account will be verified within 48 hours.
You may wonder why the broker wants to verify your identity and know “so much” about you. Years ago, I was thinking the same thing too. I didn’t want to share my personal data with the broker.
It is, however, necessary.
The broker is a subject to certain regulations and has different regulations and rules to follow. These practices also serve to prevent money laundering or terrorist financing.
(You may find it funny or annoying, but this procedure is really important. In addition, you will only be able to use your name to make a deposit or a withdrawal from your account – you cannot withdraw money from your wife or brother’s account, for example)
Depositing and withdrawing money
If you already have an open account and have the platform sufficiently tested via the demo account, you will definitely want to try to make real money in a real account.
To do this, you need to transfer real money to your real trading account (Make a deposit).
How to make deposit at the IQ Option platform?
You have several options. If you do not have a verified account, you can only do so via bank transfer (1-3 days), Sofort / Klarna internet wallet (1-5 minutes) and deposit by debit card – Visa / MasterCard, which is an immediate transaction.
Once you have a verified account, you can also make use of other services, including Neteller, Skrill, TrustPay, and more. You can then withdraw money back to your bank account using the same method you used to make a deposit.
The IQ Option Minimal Deposit
- USD – 10
- EUR – 10
- GBP – 10
- BRL – 20
- Malaysian Ringgit – 40
- Chinese Yuan – 70
- Indonesian Rupiah – 100 000
- Vietnamese Dong – 200 000
- South African Rand – 150
- Philippines’ Peso – 500
- Thai Bath – 270
Attention! You must have your account verified before you can withdraw any money. The withdrawal time depends on the selected method.
Bank transfer withdrawal fee is $ 53, so be careful about that.
The minimum deposit that can be made is $ 10. It is probably the lowest possible deposit for any broker on the market. The trades are starting at $ 1.
How to start trading with IQ Option?
Trading at IQ Option is very intuitive, as the platform is superbly designed. That is the result of more than 6 years of continuous development.
After logging into the platform, you will see a graph of the selected asset in the center of your screen. You can then adjust this graph to your liking. On the right side, there are the “buy” and “sell” buttons and on the left side you will see trading tools, trading history and other things. We do not want to burden you with details, so slowly click your way through the platform yourself, so to speak. It’s very easy.
As we mentioned above, on the IQ Option platform you can trade in a wide range of markets, whether cryptocurrencies, stocks, or forex and CFDs. If we consider forex trading, for example, it works quite simply.
You choose the asset you want to trade, in our case a currency pair, and then you can adjust stoploss, takeprofit or lever (1: 1, 1: 2, 1: 5, 1:10, 1:25 and 1:30). The lever for this broker is called a “multiplier”. Then you just confirm the trade and that’s it – trading command has been entered.
The Broker‘s awards
According to many servers, this broker has been awarded various prizes, including: Best Binary Options Broker, Most Innovative Binary Options Broker, Most Reliable Binary Options Broker and more. And no wonder, they really are the best, which is why they are placed on the 1st place in our review table.
Strategies at IQ Option
This broker offers many features and tools on its trading platform. These include IQ Option strategies (trading patterns), which you can find on the official website. These are developed directly by the broker.
Everyone knows that for a successful stock exchange trading it is necessary to have a strategy that, regardless of what we think we know, will make the trading easier. Even the developers of the IQ Option web platform are aware of this, so they also added certain patterns (trading models) on the website.
Each model on the web is provided with a video tutorial on how to use it, which saves you a lot of time. All video tutorials provided by the broker can be found directly in the trading room, on the right side.
We definitely recommend trying these strategies:
- The Three Black Crows Pattern
- The Rebound Line Pattern
- The Rainbow Pattern
In the broker’s video tutorials, you will also find basic patterns for binary options trading, such as Trend Line Trading, Bollinger bands, etc…
More detailed information about these patterns and videos for individual models can be found in this article: Trading models at IQ Option.
IQ Option Mobile Application
Undoubtedly, since its inception in 2013, the IQ Option broker has been one of the most innovative binary options brokers and has taken stock, cryptocurrency and binary options trading to the next level with each new technology it devised. This also applies to the IQ Option mobile app. I can assure you that even if you have never used any other application for trading binary options, you will love this one. Why?
- The extreme speed of the IQ Option platform presents a huge advantage and it is not uncommon that many traders prefer to do business using the mobile app rather than the classic desktop application.
- The application is very well secured, so your money and data are absolutely safe. You can set to enter the application using your fingerprint, which is a feature many trades appreciate.
- Support for the same functions as a desktop application (graph settings, line drawing, etc.)
- You can make a deposit directly in the application and it won’t even take a minute.
- For more information about this great application, read the article: IQ Option Mobile App.
In the picture below, you can see what the IQ Option mobile app looks like.
DOWNLOAD THE IQ OPTION MOBILE APP
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Our experience with s IQ Option Broker
If you have read the paragraphs above, you probably already know what we think. Since I have myself been actively trading and making money with IQ Option for over 3 years, you probably understand that our experience is nothing short of spectacular.
IQ Option and its advanced platform (100% fastest and most sophisticated platform on the market) is very user-friendly. The platform beautifully highlights earning trades, sends you alerts, and even if you are not directly on the broker’s site, it uses audible alerts and has many other features.
The platform also offers many other tools and features that every trader will appreciate.
One of these features is making a withdrawal. IQ Option makes withdrawals instantly upon request, and if for some reason the withdrawal is not processed immediately, it will be done so within 24 hours (on weekdays only).
From my experience, the withdrawal is made the very same day it has been requested, within just a few hours. Most withdrawals are free of charge. The only fee is $ 53 for each withdrawal made directly to your bank account (not applicable for withdrawals smaller than your deposits). This way, you can make an everyday withdrawal of $50 and still never have to pay the mentioned fee.
Doesn’t that sound heavenly?
A minimum investment of $ 10 and a minimum trade of $ 1 also does its thing. When I get bored, I sometimes log into the platform on my phone and do a few dollar trades. But all this wonderful trading also dark its darker side. You must not forget that trading is a real business and you can very quickly lose all your money.
We hope that you enjoyed our IQ Option review and that it was of some benefit for you. If you have a question for us or if you think we’ve missed something important, let us know in the comments. Thank you.
Would You Like to Try IQ Option? Try it With a Risk-Free Practice Account
Conclusion of this review
IQ Option according to us and many (over 50 000 000 to be exact) traders the best broker offering binary options trading. Everything is very smooth, quick and intuitive thanks to their custom-made application, available for Mac, Windows, Android and iOS.
If you don’t feel like investing real money yet, don’t worry. You can use the so called “demo account” to try the platform for yourself before investing. You will see that you’ll love it from the beginning.
Have you decided to invest your real money and try to make more of it? You can use many of their supported deposit and withdrawal methods, including credit and debit cards, wire transfer, e-wallets, such as Skrill or PerfectMoney. For other countries, the deposit methods also include smaller payment providers, such as Przelewy24 or AstroPay.
From time to time, people ask us, whether investing with IQ Option is legal. Yes, it is perfectly legal in the most of the world! There’s only a handful of countries, that don’t allow people to trade binary options with brokers based outside the country itself. One of the countries is USA – they only let their citizens trade with 2 brokers, that are based in and regulated in the USA. However, as far as we know, IQ Option is doing their best to get into that market.
How does IQ Option work? Try it!
More information on IQ Option
- Discover the differences between Put options and Call options
- To trade with and without expiration – What should you know
- How to reload your demo account with IQ Option?
- How to open deals with IQ Option when the market is closed?
- IQ Option launches trading cup with $25 000 prize!!!
- Trading binary options in Brazil – Everything you need to know!
- How to trade binary options with IQ Option in Nigeria. Is it Legal?
- How to Trade Binary Options with IQ Option In Pakistan?
- How to Trade Binary Options with IQ Option in India?
- Jeton Wallet in India – Funding your IQ Option account
IQ Option Ltd Pros
IQ Option Ltd Cons
IQ Option Ltd Details
|Broker||IQ Option Ltd|
|Support Types||Email support, Online live chat, Tickets|
|Languages||English, Russian, Turkish, German, Spanish, Portuguese, Chinese, Swedish, Korean, French, Italian, Arabic, Indonesian|
|Trading Platform||Custom made IQ Option platform|
|Minimum 1st Deposit||$ 10|
|Minimum Trade Amount||$ 1|
|Maximum Trade Amount||$ 5 000|
|Bonus||FREE DEMO ACCOUNT|
|Payout||Up to 91 %*|
|Leverage||Up to 1:300|
|Free Demo Account|
|Account Types||Standard, VIP|
|Deposit Methods||Credit Card, Wire Transfer, Skrill, Neteller, Boleto, Qiwi, WebMoney, CashU, iDeal, Fasapay|
|Withdrawal Methods||Credit Card, Wire Transfer, Skrill, Neteller, Boleto, Qiwi, WebMoney, CashU, iDeal, Fasapay|
|Expiry Times||30s, 60s, 120s, 180s, 240s, 5 min, 10 min, 15 min, 30 min, 60 min, End of Day, End of Week|
|Types of Assets||500+ assets, however only 15 in demo mode|
|Option Types||Turbo, HighLow and Classical options|
|Account Currency||EUR, USD, GBP, TYL, BRL, MYR, IDR, VND, CNY|
|US Traders Allowed|