alexa certify
50
General Information
Broker Name:IQ Option
Broker Type:Forex
Country:Cyprus
Operating since year:2013
Regulation:CySEC
Adress: Agiou Athanasiou Avenue 33, 4102, Limassol, Cyprus
Broker status:Regulated
Customer Service
Phone:+61 261 452 936(Canberra), +44 20 8068 0760(London toll rate),
Email:[email protected]
Languages:English, Russian, Chinese, Spanish, Portuguese, Turkish, Indonesian, Italian, German, Korean, French, Swedish, Vietnamese
Availability:24/7
Trading
Trading platforms:Proprietary
Trading platform Time zone:N/A
Demo account:Yes
Mobile trading:Yes
Web-based trading:Yes
Bonuses:No
Account
Minimum deposit ($):$10
Maximal leverage:N/A
Spread:Yes
Scalping allowed:Yes
iq option review, IQ Option Review

IQ Option Review

General Information

Many client reviews blame the broker in scams and frauds. As some of them sat, it is especially hard to withdraw the funds. Let us review the broker and try to figure out whether the broker’s status ourselves. IQ Option Europe Ltd’s foundation year is 2013.  Its headquarters are in Cyprus. Cyprus Securities and Exchange Commission (CySEC) regulates the Broker. IQ Option is a binary options provider. It offers free demo accounts, multiple trading instruments, and a unique trading platform.

The broker offers a variety of different features suitable for both beginner and advanced traders. Such as the use of a free demo account, up to date technical analysis via their blog covering a wide variety of asset classes, as well as an economic and earnings calendar for stock traders and educational videos.

 

Regulations: Is IQ Option a Scam?

Cyprus Securities and Exchange Commission (CySEC) regulates IQ Option. Also, it and is a member of the Investor Compensation Fund that provides clients with segregated accounts and a negative balance protection policy in line with ESMA regulations.

It allows the broker to provide services to other European Economic Area (EEA) countries. IQ Option offers further protection to clients membership of the Investor Compensation Fund and holding client funds in segregated bank accounts.

These details are confirmed on their website, as shown below.

 

Account Opening

IQ Option provides three different trading accounts. All of them are in line with ESMA regulations. These are quite two standard retail accounts and one professional account.

iq option review, IQ Option Review

Opening an account with IQ Option is simple. The client can click the Sign-Up button on the broker’s homepage and start to trade. Traders are allowed to switch between a practice account and live account. By Clicking on the Trade Now option, the client will open the IQ Option trading platform.

Also, users will be sent an email to verify their registered email address. Once this is confirmed, users are asked to confirm their phone number, personal details, and trading experience.

The forms need to be filled out before any deposits are made. However, these verification processes can be done at any time.

To access the personal IQ Option member’s area, users can click the face icon on the top right of the website, which will pop up on the right side of the page. There, users can view balances, deposit, trading history and withdrawal instructions, etc.

IQ Option’s offering and account opening processes are user-friendly and easy to understand. Every account is in line with ESMA regulations. Also, the free use of a IQ Option Demo Trading Account.

However, the broker does not accept clients from Australia, Belgium, Canada, Iran, Israel, Japan, Latvia, North Korea, Palestine, Russia, Sudan, Syria, USA.

Deposit and Withdrawals Options

IQ Option grants its users a variety of ways to deposit funds into a trading account. It can is done through Neteller, Sofort, Skrill, PayPal, Visa, WebMoney, bank wire transfer and via MasterCard. Deposits are commission-free. Traders can deposit funds directly from the member’s area by clicking on the Deposit tab.

iq option review, IQ Option Review

They mostly range from instant to 1-3 business day deposits. The broker provides a wide range of ways to withdraw funds with the minimum deposit being 10 EUR/GBP/USD. However, commissions and the processing times differ depending on the method chosen.

Generally, IQ Option withdrawal is commission-free. The exceptions are bank wire transfers. There are also certain minimums to abide by as listed above. Web & Desktop Trading Platforms

 

Trading Platform

The IQ Option clients can reach the trading platform via web or desktop IQ option download for PC and Mac. To download the platform, users need to select the Download the App button on the broker’s homepage.

iq option review, IQ Option Review

The design is user-friendly. However, the order functionalities are quite limited and challenging, compared to MetaTrader and cTrader.

Mobile Trading Platforms

The IQ Option mobile trading app is easy to use, offers the same level of functionality as the web and desktop version, making it suitable for both beginner and advanced traders.

iq option review, IQ Option Review

IQ Option Tradable Products

IQ Option offers a wide range of asset classes for traders. It includes CFD trading on 64 Forex pairs, 186 Stocks, 25 ETFs, 10 Cryptocurrencies and 5 Commodities. IQ Option also offers Binary and Digital Options trading on 56 different markets. However, this is only available to professional clients. Trading costs such as spreads and overnight funding (swap) rates vary depending on the traded instrument. For example, when logged in to the broker’s trading platform the spread on EUR/USD is just 1.3 pips.

iq option review, IQ Option Review

 

Trading Features

IQ Option’s proprietary trading platform has no additional downloads to add more features. There are additional trading features, such as automated trading or social trading. However, professional clients can use Binary and Digital Options trading products. IQ Option likely to be appreciated by binary option trades .

The users can also access a live chat option in different trading rooms. These include:

  • Stocks Chat
  • English Chat
  • Forex Chat
  • Crypto Chat

Commissions & Spreads

The trading fees in IQ Options are the same for both retail and professional traders. Even though Trading Fees and Hours page, not all fees are listed.

iq option review, IQ Option Review

Usually, the broker offers commission-free trading. In addition to a broker markup, IQ Option has a variety of spreads and swaps.

Forex Trading

Forex trading CFDs is commission-free with variable spreads and swap fees. The broker gives a detailed breakdown on their website. The user will find information on average spreads, trading hours, and swap rates for each individual Forex pair.

Commodities Trading

IQ Option offers commission-free trading on commodities. It also is with variable spreads and swap fees.

Stocks Trading

The broker grants their clients commission-free trading on Stock CFDs, with variable spreads and swap fees.

Cryptocurrency Trading

Commission-free trading on crypto, they are also with variable spreads and swap fees.

However, there are other fees to be aware of when trading with IQ Option.
•Verification account closure fee is up to 5 EUR.
•Dormant account fees, charged monthly, up to 10 EUR.
•Exchange fees charged by banks or payment service providers for deposits and withdrawals.

Bonus & Promotions

Currently, it does not offer any bonus or promotions. ESMA (European Securities and Markets Authority) regulations restrict EU brokers from these kinds of offerings. This is the reason why IQ Option does not currently have any.

 

Customer Support

IQ Option offers 24 hours a day, seven days a week customer support via Phone, Live Chat, Email, Telegram and Social Media in English, Portuguese and Spanish.

iq option review, IQ Option Review

Research

IQ Option offers Users to access a wide variety of up to date research tools and articles straight up from the website. The broker offers an impressive Economic and Earnings Calendar for Stock traders.

Users can also research stocks through the broker’s Stock Collections separated by Sector and Industry. Traders can also access impressive information on individual companies. All of these features are ideal for both beginner and advanced traders.

Trader Education

IQ Option offers traders access to the broker’s Ultimate Trading Hub. It has detailed videos and information on a variety of topics.

iq option review, IQ Option Review

Beginner and advanced trading topics are covered in the video IQ Option tutorial section. The Market News and Crypto Digest sections contain the most interesting videos and are quite up to date with recent market action.

iq option review, IQ Option Review

IQ Option Trading Experience

IQ Option provides a simple and user-friendly trading experience.  It offers a relatively easy account opening process for all Retail and Professional clients. The IQ Option broker grants traders the ability to trade on 345+ tradable assets across Forex, Commodities, Cryptocurrencies, Stocks, and ETFs on a commission-free basis. Unfortunately, they do not have trading on Indices.

There are no offers on third-party platforms, like MetaTrader or cTrader. However, IQ Option provides a user-friendly proprietary trading platform that is compatible with PC, Mac, Web, Android or iOS systems. It offers a wide range of features such as market analysis, one-click trading, etc. Advanced traders may find some order functionality limited. In the end, the mobile trading app offers a lot of features compared to other mobile trading apps.

 

IQ Option Review Conclusion

The broker is regulated. That is a fact. However, many client call the broker dishonest and scam. Option offers trading on more than 345+ tradable assets across Forex, Stocks, Commodities, Cryptocurrencies, and ETFs but no Indices at this moment. The IQ Option trading platform is unique.

IQ Option Advantages

  • Regulated by CySEC
  • Negative balance protection policy
  • Segregated client funds
  • 345+ tradable assets: Forex, Stocks, Commodities, Cryptocurrencies, and ETFs via CFDs
  • 24/7 customer support
  • Up to date technical analysis blog

Considerations

  • No indices to trade on
  • MetaTrader or cTrader platforms not offered
  • Binary and Digital Options only for professional clients

 

We would advise to be cautious and before trading, check out additional information about this broker.

Overall
3
  • Support
    (3)
  • Platform
    (3)
  • Spread
    (3)
  • Trading Instrument
    (3)
Comments Rating 2.65 (50 reviews)

Get the latest economy news, trading news, and Forex news on Finance Brokerage. Check out our comprehensive trading education and list of best Forex brokers list here. Subscribe now and receive FREE updates on the market today!

50 Comments

  1. Brock Sumsuma May 26, 2020
  2. Hayden Osburn May 21, 2020
  3. Jerilyn D. Reed May 14, 2020
  4. Roland J. Grijalva May 12, 2020
  5. Milena Alexeyeva May 7, 2020
  6. Luis Azevedo Cunha May 5, 2020
  7. Taras Maslow April 30, 2020
  8. Giovana Lima Barbosa April 28, 2020
  9. Igor Bezrukov April 23, 2020
  10. Isabelle Sousa Ribeiro April 21, 2020

Leave a Reply

User Review
  • Support
    Sending
  • Platform
    Sending
  • Spread
    Sending
  • Trading Instrument
    Sending

Subscribe to Our Newsletters

Have the best of Finance Brokerage News delivered directly to your mailbox. Subscribe now to receive the latest market news.