IQ Option Review
With our in-depth IQ Option review, you can decide whether this binary and forex broker is right for you. We explore everything from trading instruments to account types and look closely at what fees you can expect.
After examining IQ Option, our experts concluded that this is a trustworthy broker. IQ Option holds a financial license from CySEC, which enforces strict safeguarding measures from the EU. The broker also comes with exciting and flexible trading opportunities. Alongside regular markets like forex and stocks, IQ Option offers you cryptocurrencies and options. Regulated binary brokers are quite rare, especially within Europe.
If your goal is to maximize your profits safely, IQ Option could be one of the best brokers for you. Read on to find out why.
IQ Option regulation and background
IQ Option launched in 2013 and is now one of the most popular binary and forex brokers in the world. IQ Option boasts over 50 million registered users from 213 countries, and processes over 1.5 million trades per day.
Whilst IQ Option has headquarters in St. Vincent and the Grenadines, our reviewers were pleased to find a license from the Cyprus Securities and Exchange Commission. This ensures that you’re interacting with a safe broker, as CySEC imposes stringent regulations.
At IQ Option, you can choose from over 350 financial instruments in six asset classes. This includes stocks, forex currency pairs, cryptocurrencies, commodities, ETFs, and options. Note, however, that the availability of cryptocurrencies is subject to regulations.
Whilst most brokers offer stocks and currencies, options are a notable addition to the platform. IQ Option offers 88 different options in the following categories:
- FX Options
- Binary Options
- Digital Options
You can trade options with just $1 and the broker doesn’t charge any commission fees. Potential return percentages are high. With binary options, you can make profits of up to 95%, whilst digital options offer returns of up to 900%.
IQ Option account types and trading conditions
IQ Option ensures that it remains accessible for beginner traders by offering two account types. The Standard account features a low minimum deposit suitable to all budgets, whilst the VIP account offers you exclusive trading bonus tournaments.
- Standard – 10 USD minimum deposit; 1:500 leverage; 0.6 pips for EUR/USD.
- VIP – 1,900 USD minimum deposit; 1:500 leverage; 0.6 pips for EUR/USD.
If you trade within the EU, you have slightly different account options. There is no VIP account, and, whilst the Standard account is similar, the broker limits leverage to 1:30.
IQ Option also provides you with a demo account. Our review team found that this boasts an automatically refillable virtual balance and no time restrictions. Whether you want to trade forex or options, use your demo account to hone your skills.
How to fund your IQ Option account
You can use a wide range of payment methods to deposit and withdraw at IQ Option, including:
- Perfect Money
IQ Option doesn’t charge any transaction fees, and the broker processes both deposits and withdrawals instantly.
IQ Option mobile and desktop trading platforms
You can access all of IQ Option’s features and benefits via the broker’s proprietary platform. The platform features dozens of built-in technical and fundamental indicators, which you can apply to a range of charts. Our IQ Option review also found that the broker permits various strategies, including scalping, hedging, and automated trading.
Whether you use Windows or Mac, you can easily download the IQ Option trading platform. You can also trade on your mobile via the IQ Option app. This is available in the App Store and the Google Play Store.
IQ Option education and training
Our broker review team explored IQ Option’s educational materials to ensure this broker is suitable for both beginners and experienced traders. The good news is that IQ Option provides tutorial videos, trading calendars, and easy-to-understand articles.
Unfortunately, however, we found the selection to be quite limited in comparison with similar brokers. Overall, IQ Option’s learning resources help you start trading but, after that, you’re on your own.
Customer support at IQ Option
With millions of traders worldwide, it’s no surprise that IQ Option delivers an excellent customer support service. Available 24/7 in 10 different languages, you can contact the broker via:
- Email: [email protected]
- Phone: (different toll-free numbers depending on your location)
- Live Chat
IQ Option – Final summary
As our IQ Option review shows, this is a reputable broker for traders of all skill levels. Our experts found the wide variety of instruments impressive. With over 200 contracts for difference and 88 options, you can always find something to suit your style and needs. IQ Option is accessible too, thanks to low commission rates and a minimum deposit limit of just $10.
Overall, IQ Option exceeded our expectations. Open an account now to join over 5 million worldwide traders.
Is IQ Option safe?
Yes, our IQ Option review team agrees that the broker is completely safe and reputable. The broker boasts a top-tier license from the Cyprus Securities and Exchange Commission and also provides you with multiple risk management tools. These include negative balance protection, investor compensation, and stop-loss orders.
What products can I trade with IQ Option?
You can trade over 350 financial instruments at IQ Option, including contracts for difference on currency pairs, stocks, commodities, ETFs, and cryptocurrencies. You can also trade 88 options, including FX options, binary options, and digital options. Some instruments may be restricted, however, depending on your location.
How much money do I need to trade with IQ Option?
To trade with IQ Option, you must make an initial deposit of $10. If you want to go a step further and sign up for a VIP account, you need to deposit $1,900. With a VIP account, you can benefit from exclusive trading bonus tournaments.
How can I sign up to IQ Option?
To register with IQ Option, you simply need to complete two basic steps. First, you need to provide the broker with a few personal details, such as your name, date of birth, email, and employment information. After that, you must upload proof of identity and address. This can be a national ID card, passport, driver’s license, or recent bank statement. Once the broker verifies this information, you’re ready to go.
Does IQ Option charge commission fees?
You will only pay additional commission fees at IQ Option if you trade cryptocurrency CFDs. The broker allows you to trade all other instruments with just spread and swap fees. These are competitive, and you needn’t pay transaction fees either. Overall, this makes IQ Option a great choice for budget traders.