IQ Option Review

Unique Selling Points

1. Access to Historical Quotes: The platform allows traders to view historical quotes on exchange rates of financial instruments such as currency pairs over time. The information can be downloaded and used to test and apply different analyses and strategies. This feature is helpful for traders who want to gain a better understanding of market trends and make informed decisions.

2. Reward-packed Tournaments: IQ Option occasionally offers online tournaments for its traders. These tournaments are a great way for traders to compete against each other and potentially win prizes. However, as of now, no tournaments are running. Still, it's a fun feature to look out for in the future.

3. Affiliate Program: IQ Option also offers an affiliate program that allows traders to earn up to 80% in Revshare and $1500 CPA with direct financial offers. The program will enable traders to take advantage of both affiliate models to gain even more profits. Professional support and in-depth analytics are provided to help traders make the most of the program. Additionally, payouts are instant and can be withdrawn daily.

Introduction

IQ Option is a brokerage firm that was established in 2013, and since then, it has become one of the fastest-growing companies in its industry. Over the years, IQ Option has made a name for itself as a reliable and trustworthy platform for traders. Its unique features have attracted millions of users worldwide and set it apart from its competitors.

In 2014, the company had just under a million users, but fast forward to 2020, and the brand had over 40 million registered users. This is a testament to the company's exponential growth over the years. Additionally, trades over that period increased by an impressive 800%, with IQ Option hitting a trading volume of $290 million per month in 2020. Traders also withdrew an impressive $20.375 million from the platform in 2020.

One factor contributing to IQ Option's success is its proprietary platform, which has become one of the company's defining features. The platform is designed to be user-friendly and easy to navigate, making it accessible to novice traders. Unlike other brokers, IQ Option has combined the up/down binary trading technology with the ability to open trades according to the classic MT4 principle, making it a one-of-a-kind platform in the market.

Supported Countries

IQ Option is a brokerage firm that has established a strong presence globally, with a client base spanning various regions, including Africa, Asia, the Middle East, South America, and Europe. The company's reach is vast, and they have been able to attract traders from all around the world, including Brazil, Colombia, Thailand, Mexico, India, Ecuador, Peru, Argentina, South Africa, United Arab Emirates, Albania, Algeria, Anguilla, Bahamas, Azerbaijan, Bangladesh, Bermuda, Cayman Islands, Malaysia, Marshall Islands, Mauritius, Kuwait, Nepal, Singapore, Serbia, Seychelles, Turkey, and many others.

Unfortunately, at the moment, individuals residing in certain countries are not allowed to open accounts with IQ Option. These countries include the USA, Canada, Australia, Israel, Palestine, Japan, Syria, Iran, Pakistan, North Korea, the Russian Federation, Belarus, Gibraltar, and Ukraine. 

Customer Service Rating

With over 1,100 reviews on Trustpilot, IQ Option is popular for traders looking to invest in a wide range of financial instruments. The platform is generally rated with a score of 3.0 stars out of 5, with many reviewers praising the Broker for its trustworthiness, reliability, and efficiency.

Traders also appreciate the educational resources that IQ Option provides, which have been described as helpful in navigating the world of IQ trading. Many reviewers have praised the platform for its speedy withdrawal process, which is crucial for traders who want to access their profits as quickly as possible.

However, some negative reviews have centered around the platform's withdrawal process. Some traders have complained about not being able to access their profits from IQ Option, which can be a frustrating experience.

IQ Option Trading Platforms

IQ Option offers a proprietary trading platform designed specifically for its clients. This platform is used for both CFDs and binary options trading.

• Proprietary Trading Platform: The platform comes with a large chart that is very helpful for traders who want to monitor market conditions. Additionally, IQ Option Trader provides a wide selection of trading tools that you typically won't find on any binary-capable trading platform. These tools include popular technical indicators such as Moving averages, Bollinger Bands, MACD, and RSI. Another great thing about the IQ Option Trading platform is that it frequently adds new features to offer traders more flexibility. For example, a feature called 'position top-up' allows a trader to hold a trade open if it is approaching a stop loss. This gives traders more room to enable trades to recover before being closed.

• Mobile Trading App: The app is available free of charge and has been designed specifically for smartphones and mobile devices. Traders who cannot remain at their trading terminal for any prolonged period can install this app to check their account status, stay updated with all the market developments, and execute trades from wherever they are.

Type of Trading Accounts on IQ Option

IQ Option is a trading platform that offers a variety of account types to suit the needs of different traders. 

• Demo account: One of the most appealing features of IQ Option is the free demo account which allows traders to try out new strategies without the high risk of losing money in the actual markets. This demo account comes pre-loaded with $10,000 in practice money which traders can use to execute practice trades and hone their skills.

• Standard Account: This allows traders to make money in multiple markets at the same time. With just a minimum deposit of $10, traders can access over 300 assets and take advantage of a range of features. Traders can engage in "Binary Options" trading, with classic "Up/down" options yielding up to 100% in case of a correct prediction and digital options yielding up to 900%. The minimum bid is $1. Forex and New Forex trading is also available, with currency pairs requiring a minimum investment of $1 and leverage up to 1:500. The classic set of orders is available to help traders manage their trades. In addition, there is trading with shares of world-known companies and investment in ETFs.

• Vip Account: IQ Option also offers VIP accounts for those who want even more perks. With a VIP account, traders get access to a personal account manager, 3% additional returns, monthly reports on their trading records, and free participation in the trading tournaments offered by IQ Option. The VIP account holders also receive personal tutoring and extra education material on trading, which is a great advantage compared to standard users. IQ Option requires proof of experience trading with derivative products or being a finance professional. Once you meet these requirements, you can apply for a Vip profile.

Trading Denominations on IQ Option

When it comes to trading, having a variety of options is always a good thing. And that's precisely what IQ Option provides for its clients. Traders can choose from three trading denominations: EUR, USD, and GBP.

Company Structure

IQ Option is managed and owned by IQ Options Europe Ltd. The financial services provider experiences tremendous growth in the number of active users every year. This  may be mostly because of its user-friendly interface that makes trading easy for novice and experienced traders.

IQ Option allows traders to manage their profiles and trade in one window. The platform also offers a chart grid function that enables a trader to open multiple charts on one screen, making it easier to work simultaneously with binary options, stocks, and CFDs.

Additionally, this Broker is constantly working to optimize the order processing and speed of execution. The liquidity providers guarantee the execution of orders at a speed of up to 50 ms for Forex trading. In binary options, orders are executed according to the Dealing Desk scheme.

IQ Option has won multiple awards over the years, including the Most Innovative Trading Platform Globe 2023 by International Business Magazine, Best Trading Platform 2022 by ForexDailyInfo.com, and Best Trading Experience 2022 by WorldForexAward.

IQ Option Licenses and Regulatory Compliance

IQ Option is a subsidiary of IQ Option Europe Limited, and its head office is located in Cyprus, Agios, Yiannis Nicolaides Center. Their company registration number is HE327751, and they hold a license number CySEC - 24714.

However, there is some confusion around its regulatory status. While the company does not list its regulation licenses on its website, many IQ Option broker reviews suggest that the platform is regulated by several reputable organizations, including CySEC, FCA (United Kingdom), CNB (Czech Republic), AFM (Netherlands), and Regafi (France). However, there is no record or trace of its license number with these organizations.

Additionally, it's worth noting that IQ Option is headquartered in Saint Vincent and the Grenadines, which means that the FSA of the country may oversee it. Despite the lack of clear information about IQ Option's regulation, it's important to note that the platform is generally regarded as a reputable and reliable trading platform.

IQ Option Customer Protection

IQ Option is a subsidiary of IQ Option Europe Limited, with its company registration number HE327751, and they hold a license number CySEC - 24714. While there isn't much information on their website regarding customer protection policies, IQ Option is expected to comply with some of the customer protection policies put in place by the EEA and CySEC.

Customer Service

IQ Option offers various channels for customers to get in touch with their support team at any time of the day, seven days a week. Whether you're using the IQ Option mobile app or the browser platform, you can easily access their customer support services through email, live chat, or on social media platforms such as Facebook, Twitter, Instagram, and YouTube.

Trading Information

IQ Option is upfront and transparent about its fees, which is always a positive sign for any potential trader. Its offered Spread varies based on the asset, volatility, liquidity, and trading hours. IQ Option's spreads are competitive and reasonable, so you won't be hit with any surprises there.

For cryptocurrency trades, IQ Option charges a 2.9% commission. However, for other financial instruments, there is no commission charged. Swap fees can range from 0.1% to 0.5%. It's worth noting that these fees are three times higher for positions opened over the weekend.

If your Account is inactive for 90 consecutive days, IQ Option charges a €10/month fee. Also, The first withdrawal per month is free, which is a nice perk. However, if you make additional withdrawals, IQ Option charges a 2% commission with a minimum of $1 and a maximum of $30.

Tradable Instruments

IQ Option understands this and offers its clients an impressive selection of assets to trade. Here are some of the instruments available on the platform:

• Forex

• Cryptocurrencies

• ETFs

• CFD Stocks

• Commodities

• Indices

IQ Option Leverage

IQ Option offers variable leverage to its clients, which means traders have control over the amount of leverage they want to use. The maximum leverage on the platform is an impressive 1:500. EEA traders will see leverage capped at 1:30.

Deposits and Withdrawals

IQ Option Broker offers a range of convenient options for depositing and withdrawing funds. These include Debit/Credit cards, Wire transfers, and electronic payment options.

Deposits

When depositing funds into your IQ Option trading account, it's important to remember that payment providers may have their own specific transaction limits, restrictions, and requirements. It's also worth noting that some deposit methods may be restricted in certain countries, especially if your Account is not fully verified.

Withdrawals

It's important to be aware of the processing times involved when withdrawing funds from IQ Option. Generally, you can expect to wait up to 3 business days for your withdrawal request to be processed. 

However, some withdrawals may take longer than this, as the processing time can also depend on the Payment Service Provider and your payment method. For example, withdrawing to a card may take up to 21 calendar days for your issuing bank to process the payment.

IQ Option Trading Education and Training

IQ Option offers a variety of resources to help traders improve their skills and stay up-to-date on market trends.

One of the most basic trading courses is available on the IQ Option website in the form of separate video tutorials. Video tutorials and blogs are available for those who prefer to read or watch content, while real-time charts and graphs visually represent market data. 

These tutorials cover a range of topics, from basic trading concepts to more advanced strategies. Additionally, the platform provides information support, fundamental news, and analytics. This includes a newsfeed, information on individual company shares, historical quotes and calendars, and video training. 

FAQs

Is IQ Option a Scam?

There are some concerns about the lack of transparent customer protection policies on its website, which can raise questions about the safety of using its platform. Additionally, there is some controversy surrounding the regulation of IQ Option, as the company is not transparent about its regulatory status on its website. 

While some IQ Option broker reviews suggest that the platform is regulated by CySEC, FCA, CNB, AFM, and Regafi, it is still unclear as there are no license numbers to back up these claims.

How do I open an IQ Option trading account?

To open an account with IQ Option, go to the IQ Option website or download the IQ Option mobile app from your app store. Click on the "Sign Up" button in the page's top right corner and follow the prompts provided.

Conclusion

IQ Option is a popular forex broker with a variety of tradable instruments and a flexible trading platform. The company provides transparent information about its fees and commissions and convenient methods for depositing and withdrawing funds.

While the lack of clear customer protection policies on their website is a concern, it's expected that IQ Option will be compliant with some of the customer protection policies put in place by the EEA and CySEC. Additionally, their regulation by CySEC provides some reassurance for traders. IQ Option also offers comprehensive trading education materials and responsive customer support, making it a good choice for both novice and experienced traders.