REVIEWS
IQ Option Review 2022
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What Is IQ Option?
IQ Option is a forex brokerage company that is developed under the IQ Option Europe company. It is headquartered in Cyprus and was founded in 2013. IQ Option holds a license from the Cyprus Securities and Exchange Commission(CySEC) which is also based in Cyprus. This allows the broker to provide its financial services within the European Economic Area zone. IQ Option provides financial services in binary options, stocks and shares, currencies, and ETF trading. However, it is considered to be one of the highest expanding companies across the world with over twenty-five million traders.
IQ Options have traders in more than 178 different countries, all over the world. However, due to strict restrictions, IQ Option cannot access traders in the United States. There are other countries that cannot be accessed, such as Sudan, Canada, Syria, Russia, Australia, Japan, Iran, Turkey, and Israel.
The trading platform and website are available in thirteen different languages, which permit clients from anywhere the world to be able to trade in a language they prefer. IQ Option also allows traders to choose the currency they are more comfortable trading with. The selections of currencies are: GBP, RUB, EUR, IDR, USD, MUR, and Yuan.
This IQ Option review is an in-depth analysis to define the assets of the broker and its online trading services.
| IQ Option Main Features | |
|---|---|
| 🗺️Established in: | 2013 |
| 🏢Headquarters: | Cyprus |
| ⚖️Regulations: | CySec |
| ⚖️Country of regulation: | Cyprus |
| 💰Minimum Deposit: | $10 |
| 🖥Platforms: | In-House Platform |
| 🎮Demo Account Available: | Yes |
| 💱Leverage: | 1:30 and/or 1:1000 |
| 💰Withdrawal fee amount: | $0 |
| 💰Inactivity Fee: | No |
Awards
IQ Option has won many awards, due to its stellar trading application, variety of trading instruments, and impressive trading execution. Among the many awards they have received, the three most prestigious are the Award of Excellence that was rewarded to them in 2017, Best Technology Application, and Best Mobile Trading Platform.
The Award of Excellence is awarded by the Academy of Interactive and Visual Arts; IQ Option received the award in 2017 because of its high standards of quality and visuals. The IQ Option application was voted as the best application in the Finance Category.
The Best Technology Application Award was granted by the Web Marketing Association, which awarded Best Technology Application to IQ Option in 2015 because of their mobile application which was impressive, to say the least. The IQ Option mobile application was the leading reason for winning many awards, including the Best Mobile Trading Platform in 2015 by the IFM Awards.
| Pros | Cons |
|---|---|
| • Regulated by the Cyprus Securities and Exchange Commission (CySEC) | • Does not provide MT4 and MT5 trading platforms |
| • Easy and convenient method of opening an account | • ot available for traders in the US, Canada, Australia, Japan, and other countries |
| • Wide range of trading instruments | |
| • No deposit and withdrawal fees |
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Safety & Regulation
IQ Option is a forex broker that is operating under a license from the Cyprus Securities and Exchange Commission (CySEC). In order to qualify and keep the license, it has managed to reach the minimum necessities and risk warnings to be able to qualify for the CySEC license and continues to do so. These requirements include trading commodities, trader funds, and marketing limitations. Because of the various CySEC rules and regulations, all traders’ funds are kept in isolated accounts that IQ Option cannot reach for any issues relevant to the business.
The CySEC license also provides a level of insurance when it comes to deposits, which looks after all the investments that took place with IQ Option as a contingency plan, as a risk warning for traders to consider.
Along with the act of keeping traders’ funds in segregated accounts, IQ Option provides different security regulations that are additional to those of the CySEC. The brokerage firm has a full SSL encryption that allows all the communication between the traders to the server of the broker to be protected and encrypted. That encryption hinders for hackers to reach information or accessing traders’ funds or personal information.
Despite the fact that it is a growing brokerage firm, the domain and all the financial rights are registered to IQ Option Ltd, in Seychelles; this is a drawback since the Seychelles domain is known to be a hub for offshore brokerage firms.
| Pros | Cons |
|---|---|
| • Regulated by the Cyprus Securities and Exchange Commission (CySEC), one of the top-tier financial regulators | • Does not provide negative balance protection |
| • Provides investor protection | |
| • Full SSL encryption | |
| • Client funds stored in segregated accounts |
Who Is IQ Option?
IQ Option had quite a journey to get to their significant reputation today. It was founded in 2013. They started as a small trading service provider and ended up moving higher and higher until they became one of the most globally-acclaimed online trading brokers. They currently have 48,091,542 active trading users, from 213 countries in the world. Their estimate of daily transactions from their active users is 1,338,793. This means that they have over 55,000+ transactions per hour, from their active users.
They currently have 48,091,542 active trading users, from 213 countries in the world.
Their estimate of daily transactions from their active users is 1,338,793. This means that they have over 55,000+ transactions per hour, from their active users.
Fees
They do not have a withdrawal fee or deposit fee, and they require few amount for deposits and withdrawals.
IQ Option Deposit And Withdrawal Fees
| Deposit and Withdrawal Fees | |
|---|---|
| Deposit Fee | 0USD |
| Withdrawal Fee | 0USD |
| Minimum Withdrawal Limit | 2USD |
| Minimum Deposit | 10USD |
What Is The Minimum Deposit For IQ Option?
The minimum deposit at IQ Option is 10 USD/GBP/EUR. You are welcome to deposit using a debit or credit card (Visa, Mastercard, or Maestro) or an e-wallet like Skrill, Neteller, Webmoney, and other e-wallets.
How Much Can You Withdraw From IQ Option?
There are no restrictions as to the minimum withdrawal amount — starting from $2, you can withdraw your funds on the following page: iqoption.com/withdrawal. To withdraw an amount less than $2, you will need to contact our Support Team for assistance.
| XM | IQ option | XTB | |
|---|---|---|---|
| EURUSD benchmark fee | 0.00017 | 0.9 | 0.0001 |
| GBPUSD benchmark fee | 2.1 | 0.0003 | |
| AUDUSD benchmark fee | 0.00019 | 1.2 | 0.0002 |
| EURCHF benchmark fee | |||
| EURGBP benchmark fee | 0.0002 | 2 | 0.0004 |
| Pros | Cons |
|---|---|
| •No deposit fee | •Time Consuming Withdrawal Process |
| •No withdrawal fee | |
| •Minimum amount withdrawal and deposit is little | |
| •Require account verification for first deposit and withdrawal |
Account Opening
The Real Account is available, with only a required deposit of 10$ to start the account.
The VIP Account is strictly for those who are ready to go above and beyond, depositing $1900 or have a trading volume of $15000 within a period of 3 months.
| Pros | Cons |
|---|---|
| • Account types available based on trading volume and experience | • High minimum deposit for VIP Account |
| • Available as Demo Account | • Trading competitions only available for traders outside of EU |
| • VIP Account has personalized features | |
| • Real Account has low minimum deposit |
IQ Option Real Account
For live trading, IQ Option requires a minimum deposit of ten dollars and new traders can spend only ten dollars to get the live account up and running. The real account can be reached with a ten dollar investment, at a minimum, and there are no limitations when it comes to the functions of trading.
The real account offers the option that traders can participate in several trading competitions that are events on the trading platform, but for traders residing outside the EU. You can try using the Real Account through the Free Demo Account to understand how it works, without facing any significant financial loss.
| Pros | Cons |
|---|---|
| • Low minimum deposit | • Trading competitions available for traders outside of the EU |
| • Low minimum investment amount | • Access on in-house IQ Option trading platform only |
| • Access to 70+ trading instruments |
IQ Option VIP Account
Under two conditions. The two conditions are as follows: traders who have made a deposit of 1,900USD or an equivalent of that amount in other currencies, and or clients who have a trading volume of 15,000USD. The VIP Account consists of the features of the Real account and personalized features; the personalized features that they provide are a personal manager at the trader’s beck and call and a monthly report on the trading records of the trader.
| Pros | Cons |
|---|---|
| • Personalized features available | • Does not access mainstream trading platforms |
| • Monthly report to track trading records of traders | • High minimum deposit required of 1900USD |
| • Suitable for traders with experience or high trading volume |
How To Open An IQ Option Account
The Demo Account sign-up process and the Standard account are the same, there is no difference.
STEP ONE: Fill in your full name, email address, and password for the account. You can link your social media to the application to sign-up from there.
STEP TWO: Start Trading!
IQ Option Affiliate Program
IQ Option provides traders with an affiliate program for traders who want to enhance their income more; the program is allowing traders to gain profit by encouraging others to trade with the platform. If you decide to join the affiliate program, you will simply have to share your affiliate link. When another trader signs up with IQ Option via your link, it will be associated with your unique ID.
You will receive your rewards once the users who signed up via your link start trading on the IQ Option platform. Your profit depends on the trading activity of the client, where you can earn about 70% of the user’s profit. The Affiliate Program is an unlimited program, and the earnings are paid bi-monthly. According to IQ Option, there are 115,410 affiliates in 178 countries.
How Can I Verify My IQ Option Account?
You must complete the following steps to verify your identity. Verify your address of residence. Verify that you are the owner of the bank card that you are using for transactions in IQ option.
- Verify your Identity
- Verify your Address
- Verify your desired payment solution
Identity Verification
To verify your identity you must provide a scan or a photo of your passport or identity card. Passport only the page with your photo I.D. for Card scan on both sides.
The document must be current not expired, Driver’s license. Both sides document requirements for verifying your identity.
Address Verification
To verify your address of residence you must provide a scan for a photo of one of the following documents issued in your name.
- Statement for a bank account or credit card
account bill for utility services electricity telephone water - Document from the municipality confirming your address with an official stamp
tax statement. - Document requirements for verifying your residence address. The document must contain your name and address. The document must not be older than six months.
The document must show the logo of the bank or the company or government seal. The image must show the entire document or half of the document.
Bank Card Verification
To prove your ownership of the card you are using for transactions you must provide a scan or a photograph of both sides of the card.
Requirements for providing a card. The card must contain your name. On the front and back sides of the card.
As shown in the example on the backside the CV v code should be obscured. In order to obscure the necessary information on the card, you can use either physical methods to tape a piece of paper over it or digital methods to block it out in a photo editor.
General Requirements For All Uploaded Files
The documents in the photo must be position frontally. The document must not be cropped and all edges of the document should be visible.
The image should not be blurry and the information must be clear and easily discernible. Documents should not be obscured with objects or glare reflections.
The size of the uploaded file must not exceed eight megabytes only the following formats are allowed. J peg P N G. You can always check your verification status in your account.
Deposit & Withdrawal
Traders can choose their method of deposit, while this trading provider does not make the client pay fees for depositing funds.
There are certain steps that need to take place for traders to make their first deposit, where they need to participate in the account verification process.
Deposits
IQ Option provides its traders various methods of deposits and withdrawals to and from the trader’s account. Traders can now use methods such as: Debit Cards (Maestro and Visa Electron), Credit Cards (Visa and MasterCard), along with electronic payments (Skrill, MoneyBookers, CashU, and Neteller).
IQ Option is able to process payments through Wire Transfer; with the current minimum amount for withdrawal is two dollars. The time it takes to process requests for withdrawal is one business day, but the local financial institution may pay for this process.
| Pros | Cons |
|---|---|
| • No deposit fee | • Lack of variety for base currencies |
| • Low minimum deposit | |
| • Wide range of deposit methods | |
| • Verification needed for first deposit to ensure safety |
IQ Option Deposit Options
- Credit Card\Debit Card
- Electronic Wallets
- Bank Transfer
Withdrawal
With withdrawing funds from trading accounts from IQ Option, the method traders’ use can contrast against the method of the deposit. The electronic wallet for withdrawals is similar to those for deposits. If a deposit was made through an electronic payment, then traders must withdraw funds to the same electronic account.
However, despite the method of withdrawal the trader chooses, it processes the trading order or request in the span of three business days. With bank cards and payment mediators, there may be added time in processing the request.
| Pros | Cons |
|---|---|
| • No withdrawal fee | • Fees may be charged if withdrawing from bank |
| • Low minimum withdrawal amount required | • Slow withdrawal process with bank transfer |
| • Different methods of withdrawal | |
| • E-wallets process requests instantly |
IQ Option Withdrawal Options
- Credit Card\Debit Card
- Electronic Wallets
- Bank Transfer
Trading Platforms
To trade with IQ Option, you can download their trading platform on your desktop or mobile device, whichever software you have.
They now have their own in-house IQ Option trading platform, which is cheap for the broker and beneficial for the trader.
However, there is a lack of options when it comes to analysis and charting. The trading platform consists of a prominent interface, and it is available online and downloadable formats. Unfortunately, the downloadable version of the software is an imitation of the web-based trading platform, with the same advantages and drawbacks.
There is the option of the charting tool that allows traders to select from various charts that is useful for detecting chart patterns. The trading platform for this brokerage firm is functional and visually pleasing, but it may not be helpful in analysis.
Web And Desktop Trading Platform
With the IQ Option web trading platform, the platform is very easy to use and it is well-designed. You will find that the search functions are easy to navigate, and you will not find an issue when it comes to submitting an order. The order types on the web trading platform are the five aforementioned order types, which are also available on the mobile application.
The one thing that has caught traders by surprise is the accommodating educational resources that are found on the trading platform, where you can watch basic videos on how to use the platform.
The desktop trading platform and the web trading platform have the same features, excluding that the desktop platform is a plug-in extension and the web platform is via website.
Overall, the web trading platform of IQ Option is quite impressive and has won several awards because of its unique features and its well-designed layout.
| Pros | Cons |
|---|---|
| • Easy to use structure | • No binary options for residents outside of the EEA |
| • Well-designed layout | |
| • Available in 13 languages | |
| • Various trading instruments available |
Mobile Trading Platform
With IQ Option, you have the option to download their mobile application on your device so you can trade-on-the-go. You will find that there are charting tools that were available on the web trading platform on the mobile application.
You can use all aforementioned order types on the mobile application, and be able to set alerts on your device. The alerts and notifications will let you know if there are any price changes, if your price reaches its target, and keep you updated on any major relevant events.
Overall, the IQ Option trading platform has been considered a success since there are many awards rewarded to them, regarding the mobile application. Traders have praised the effort of accommodating traders who are on-the-go with its user-friendly and easy to navigate structure.
| Pros | Cons |
|---|---|
| • Works on both iOS and Android | • Only available to trade with CFDs and Options |
| • User-friendly structure | |
| • Alerts and notifications are available |
Markets & Financial Instruments
The list of markets available to trade is growing at a constant rate is growing at a constant rate. The firm extended their list of stocks and share and took the total past 150. They spread markets over all items like Oil, Silver and Gold were added to Digital trades asset lists.
With each product minimum trade sizes change. This means digital options and binaries can be opened for $1, however a Forex CFD has a minimum trade size of $20, and FX Options a minimum trade size of $30.
| Financial Instruments | ||||
|---|---|---|---|---|
| 169 Stock CFDs | 27 Cryptocurrencies | |||
| 25 ETFs | 49 Forex | |||
| 46 Binary Options | 5 Commodities | |||
Markets Research & Trading Tools
IQ Option is highly-regarded for its myriad of educational resources and materials that are widely available for all of its clients and traders. The website contains training material that targets audiences of novice traders, as well as expert traders. The educational resources and materials include trading videos, webinars, and tutorials.
Traders have the ability to reach several e-books and a FAQ section that handles all of the most common questions. These training resources offer beneficial information for traders of different capabilities and experiences. Along with the training resources, the website of the broker allows clients the opportunity to reach various video tutorials, analysis methods, and how-to guidelines on the structure of the IQ Option platform.
| Pros | Cons |
|---|---|
| • Educational resources available for all traders | • Basic topics are covered only |
| • Visual aid available | |
| • Interactive webinars available for more receptive responses | |
| • Accurate FAQ section | |
| • Variety of charting tools |
IQ Option Trading Tools
to help you while trading. The charting tools that you will have access to are: Candle Charts, Hollow Candles, Area Charts, Line Charts, and Bar Charts. These charting tools are available on the IQ Option trading platform for you to use while you’re trading.
| Trading Tools That IQ Option Offers | ||||
|---|---|---|---|---|
| News Feed | Economic Calendars | |||
| Customizable Price Alert | Traders’ Sentiment | |||
| Community Live Deal | ||||
| Pros | Cons |
|---|---|
| • News feed is accurate with real-time events | • None |
| • Customized price alerts that suit your trading needs | |
| • Trading community to interact and discuss trading strategies |
The interactive Trading community allows traders to share trading ideas and even learn from one another, in regards to trading solutions and trading strategies.
IQ Option Indicators
IQ Option offers the following Indicators through its trading platform:
- Moving Averages (MAs): these indicators, such as Smooth Simple Moving Averages and Exponential Moving Averages, can offer you insights into current trends and can be used with different indicators.
- The Moving Average Convergence Divergence (MACD): this indicator provides where moving averages meet and divide.
- The Relative Strength Index (RSI): this indicator aids in finding out the strength of a current trend, and its possible reversal points. It also compares between the absolute growths of a trading asset’s price with the total price reduction.
- The Stoch or Stochastic Oscillator indicators: it is an indicator that shows the current position of a price and comparing it to the extremes from the selected period; it is a percentage that helps you define the possible reversal points.
- The Average True Range (ATR): this indicator shows the current volatility in a trading asset in the selected period, where it also determines the change rate of quotes.
- The Parabolic SAR: it is a similar indicator to MAs, but the position changes depending on the price and it moves with the combination of high acceleration.
- The Average Directional Movement Index (ADX): this indicator shows the strength of a trend before price movements take place, and it also shows any possible changes in market volatility.
- Fractal: these are series that shows the local maximum and minimum of price curves, along with the market reversal points.
- Commodity Channel Index (CCI): it measures the speed with price movements and helps traders define the forthcoming market reversals, or analyze a trend’s strength.
- The Alligator Indicator: this indicator aids in assessing market-movement in direction and helps with filtering Side-Bands.
- The Awesome Oscillator: this indicator is a visualized ratio of two Simple Moving Averages, with one fast indicator and one slow indicator. This indicator show new development.
- Bollinger Bands: these indicators show trends of a dynamic range for price changes.
- Volume Indicators: these indicators define the quantities of your chosen trading asset that were purchased and sold within a given period, showing interest.
IQ Option Orders
The Multiplier Orders are order types that permit traders to enhance their ROI, or return on investment, through a multiplier. If you have a multiplier, the price changes of your trading asset will increase by twenty-fold, fifty-fold, or 100-fold. The multiplier order will increase your profits, but you will face more financial risk in return.
The Stop-Loss Orders are order types that permit traders to define a maximum financial loss that they are willing to agree to during a trade. With Stop-Loss orders, once you reach the financial amount you specified as your maximum loss, the trade is closed in order to curb your loss.
The Take Profit Orders are order types that work in the opposite direction of the Stop-Loss order, where you can close a trade early on and gather your profit when it reaches the amount you have specified.
The Trailing Stop Orders are order types that enhance on the idea of a Stop-Loss order by fundamentally using automatic closing at a stop. Trailing Stop orders will move in accordance to the price changes, in the direction that you specified.
The Pre-Order is an order type that permits traders to go through the market only when a trading asset has reached the exact price amount specified by the trader. Once the trading asset has reached the specified price, the trade will be automatically executed, without verification.
| IQ Option Order Types | ||||
|---|---|---|---|---|
| Multiplier Orders | Stop Loss Orders | |||
| Take Profit Orders | Trailing Stop Orders | |||
| Purchase At/Pre-Order | ||||
Customer Service
IQ Option constantly boasts about their 24/7 fast response of their customer service, responding in 46 seconds and resolving all issues under 30 minutes. They have a big team for customer service, and each trader who has a VIP Account is awarded with a personal customer service account manager.
| Pros | Cons |
|---|---|
| • Fast response | • No voice interaction |
| • Relevant answers | |
| • Available for 24/7 | |
| • Supports various languages |
Means Of Communication
- Contact Form
- Live chat
According to client reviews, the IQ Option platform is an uplifting experience; there are visually appreciative and most traders deal directly from the charts. The trading platform provides an outline of every trader’s open positions, as well as their trading history. There is also a section for Chats and Blogs, which is the highlight of the social side of the brokerage firm. The customer support seems to also make quite a positive impact on traders, since they are fast and relevant responses from their customer service.
Client Education
The best way to learn anything is by trying it first-hand and getting a real-time experience with it. This is why IQ Option has provided access to all traders with the Demo Account, so you can be able to try the platform without worrying about losing any money in the process!
The IQ Option trading account to learn from is the Demo Account, an unlimited simulation for traders to try out the account without any financial risks. The keyword is unlimited, because it is almost unheard of for brokers to offer an unlimited Demo Account, and yet that is exactly what IQ Option provides.
The Demo Account gives traders the option to trade and not worry about financial repercussions, with virtual funds up to ten thousand dollars. With the IQ Option, traders do not need to give personal information before signing into the Demo Account. With traders not providing their personal information, this helps the client to protect their privacy and helps them trust the broker.
How To Open A Demo Account
STEP ONE: Fill in your full name, address, and password for the Demo Account. You can also sign up by linking your social media to the application.
STEP TWO: Start Trading!
Conclusion
IQ Option is a trustworthy broker that offers many features and elements, unlike most brokers. They are regulated by the Cyprus Securities and Exchange Commission, one of the best financial regulators in the world. Following the CySEC regulations, they must store all client funds in segregated accounts and provide full SSL encryption for the protection of client funds. IQ Option provides a variety of trading instruments, including binary options, which is not found in most brokers.
There are two types of trading accounts: the Real Account and the VIP Account, which can be simulated through their unlimited Demo Account. You will be able to use the Demo Account for an unlimited amount of time, to access virtual funds of 10,000USD. IQ Option only provides traders with one trading platform, which is their in-house trading platform. It has a web and desktop terminal, and a mobile application.
There are many methods of depositing funds and withdrawing funds, including electronic wallets. You will not be charged with a deposit and withdrawal fee, and you will only need to pay a minimum deposit amount of ten dollars to deposit funds into your account.
In conclusion, IQ Option is a safe and regulated broker that would take care of the trader’s private information and trader funds.
Frequently Asked Questions
Is IQ Option good for trading?
IQ Option is good for trading since they have a wide range of different trading instruments. You will be able to trade with: 169 Stock CFDs; 27 Cryptocurrencies; 25 ETFs; 49 Forex; 46 Binary Options; and 5 Commodities.
How do I use IQ Options platform?
You can use the IQ Options platform by downloading it on your desktop and your mobile device, whether it is Windows or MAC. You can also download the application on your mobile device; iOS or Android software is available.
What is the best binary option trading platform?
Is IQ Option safe to use?
Can I earn money from IQ Option?
How do I withdraw money from IQ Options?
What is IQ Options and how does it work?
Where is IQ Options located?
Methodology
All brokers listed on our website are regulated by at least one financial regulator and have never been reported as a scam. We analyze more than 3000 data points across 8 key focus areas.
Our reviews are a combination of data research and working alongside the brokers. All information provided by the brokers are double-checked to guarantee 100% accuracy and that we remain unbiased.
2023 Review Methodology
For our 2023 Forex Broker Review, we assessed, rated, and ranked 45 international forex brokers over a three-month time period. Each broker was graded on 108 different variables and, in total, over 100,000 words of research were produced.
While encouraged, broker participation was optional. Each broker had the opportunity to complete an in-depth data profile and provide executive time (live in person or over the web) for an annual update meeting.
All data submitted by brokers is hand-checked for accuracy. Ultimately, our rigorous data validation process yields an error rate of less than 0.1% each year, providing site visitors with quality data they can trust. Learn more about how we test.
Forex Risk Disclaimer
There is a very high degree of risk involved in trading securities. With respect to margin-based foreign exchange trading, off-exchange derivatives, and cryptocurrencies, there is considerable exposure to risk, including but not limited to, leverage, creditworthiness, limited regulatory protection, and market volatility that may substantially affect the price or liquidity of a currency or related instrument. It should not be assumed that the methods, techniques, or indicators presented in these products will be profitable, or that they will not result in losses. Learn more at Wikipedia.
Chad Smith
Director of Research & Analysis
Chad Smith is the Director of Research & Analysis here at ForexBrokerListing.com.
Chad previously served as an Editor for a number of websites related to finance and trading, where he authored a significant number of published articles about trading and the impact of technology in transforming investing as we know it.
Overall, Chad is an active fintech and crypto industry researcher with more than 15 years of trading experience, and you can find him teaching his dog how to trade in his free time.