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Risk Warning: Your capital is at risk. Statistically, only 11-25% of traders gain profit when trading Forex and CFDs. The remaining 74-89% of customers lose their investment. Invest in capital that is willing to expose such risks.

4.1
/ 5

IQ Option review

By azeshan
Updated on Sep 11, 2024
|
14 mins read

Overview

Choosing a broker is a decision that requires time, effort, and careful consideration. Even advanced traders will find their trading efforts harder by picking the wrong broker. However,...
See full overview for IQ Option
Countries
+211
Devices
Minimum deposit
10$
Withdrawal fee
2%
Deposit fee
0%
Max insured
No
Our Verdict
4.1
/ 5
Commissions & Fees
4.4
/ 5
Deposit & Withdrawal
4.2
/ 5
Customer Support
3.9
/ 5
Account Opening
4
/ 5
Regulation & Safety
3.8
/ 5

Our 5-step process of verification and evaluation – How do we obtain information?

 

General inspection – 30%

Trading experience – 30%

Technical audit – 20%

Collective experience from collaborations with the broker – 10%

Interviews with real traders – 10%

 

See the entire process here.

Pros

  • Strong Regulation

  • User-Friendly Platform

  • Good Educational Resources

  • Low Minimum Deposit and Competitive Fees

  • Range of Tradable Instruments

  • Free Demo Account

  • Good Customer Service

Cons

  • Limited Availability

  • Limited Trading Platforms

  • Limited Account Types

  • Withdrawal Issues

  • Controversy Around Binary Options

General details

Type of accounts
Unlimited Demo Accounts
Standard Accounts
Execution Model
NDD
Deposit currency
USD
Regulatory complience
CySEC
Deposit payment systems
Withdrawal payment systems
Support Languges
English
Arabic
Vietnamese
Spanish
Chinese
Portuguese
Thai
Hindi
Autotrading
IQ Option Trading Platform
Contact details

Customer reviews

Read real reviews from traders all over the world:

E
Eduardo Barbosa
27 April 2024
Advantages: No fees for depositing funds and minor ones for extracting them.
Disadvantages: No alternatives to the platform
I am glad to work with them.
H
Hafiz Sulaiman
19 April 2024
Advantages: Tbh, the presence of several licenses is a big plus. Awards are also notable, it ensures reliability. Moreover, the company offers versatile conditions.
Disadvantages: Nothing to specify on that
In general, my experience with the iq option is positive, spreads here are within acceptable limits, range of assets is extensive.
See all 64 customers reviews

Accounts

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.
Standart - IQ Option
Scalping
Hedging
Trading 24 hours a day
Trailing stop
Trading Platforms
IQ OPTION
Deposit currency
USD
Trading instruments
Forex
1:30
Number of currency pairs: 16
AUD
CAD
CHF
JPY
NZD
USD
GBP
PLN
CZK
HKD
CNY
MXN
RUB
SGD
TRY
ZAR
1:5
1:500
1:500
Binary Options
Cryptocurrencies
Minimum position size
0.01 units
Execution type
market
Spread type
Floating
Decimal places
5
Margin Call
100%
Other
Swap free
VIP account
Phone trading
Scalping
Hedging
Spread type
Trading with expert
Trading 24 hours a day
Trailing stop
Interest on free balance
Mailing the documents

Tradable instruments

Tradable instruments on IQ Option trading platforms include:

  • CFD Stocks
Currencies
N/A
Cryptocurrencies
N/A
ETF
N/A
Commodities
N/A
Indices
N/A

Frequently asked questions

Find the right answer to your question below.

Is IQ Option legit?

CySEC, which is a top-tier regulator, regulates IQ Option. As a result, this broker must adhere to strict trading guidelines and be transparent. This gives peace of mind from the start. This broker was established in 2013, so it has more than a decade in operation. Moreover, it has won several industry awards and has millions of regular customers. 

However, IQ Option has courted controversy in the past regarding binary options. It’s important to weigh this up when making a decision, but strong regulation should add extra reassurance. 

Additionally, this broker isn’t available to residents in the UK, USA, Canada, or Australia.

What's the minimum deposit for IQ Option?

An area where IQ Option shines is in its minimum deposit amounts. This broker requires just a $10 minimum deposit, which is one of the lowest on the market. For traders looking to keep costs low, this is an ideal situation. However, it’s important to remember that all trades should be done responsibly and carefully.

Can I use IQ Option in the US?

Unfortunately, IQ Option is unavailable in the US, due to regulatory restrictions. However, there are many other brokers on the market who accept US residents, such as eToro and Forex.com.

What assets can I trade on IQ Option?

IQ Option has a range of tradable assets. This includes forex, ETFs, cryptocurrencies, commodities, CFD stocks, and indices, and binary options. This large range allows portfolio diversification, therefore reducing risk over time. It’s a good idea to focus on a select few assets at first, building your skills before moving to another group.

Is IQ Option good for beginners?

With many educational resources, a demo account, and a user-friendly interface, IQ Option is a great choice for beginners. The Standard account has many features that new users can use and develop their skills. 

 

However, advanced users may find the limited account types restrictive. In that case, we have a number of comparison articles on our site, including Oanda vs IQ Option, and Capital.com vs IQ Option. Careful research is key to finding the best broker for your personal needs. 

IQ Option compared with alternative brokers

To see the full broker review click “See review”, to see the complete table and compare more brokers visit our Comparison page.

  • Overall verdict
  • Trading
  • Minimum deposit
  • Maximum leverage
  • Fees
  • Withdrawal fee
  • Deposit fee
  • Safety
  • Top-tier regulators
  • Investor protection
IQ Option
  • Specialized trading accounts
  • 24/7 instant money withdrawal
  • 4.1
    / 5
  • 4.2
    / 5
  • 10$
  • 1:500
  • 4.4
    / 5
  • 2%
  • 0%
  • 3.8
    / 5
  • CYSEC
  • Yes
  • See review
  • 3.9
    / 5
  • 4.1
    / 5
  • N/A
  • N/A
  • 3.9
    / 5
  • N/A
  • N/A
  • 3.7
    / 5
  • No
  • Yes
  • See review
  • 4.1
    / 5
  • 4.3
    / 5
  • N/A
  • N/A
  • 4.2
    / 5
  • N/A
  • N/A
  • 4
    / 5
  • N/A
  • Yes
  • See review
  • 4.1
    / 5
  • 4
    / 5
  • N/A
  • N/A
  • 4.1
    / 5
  • N/A
  • N/A
  • 4
    / 5
  • VFSC
  • Yes
  • See review
FxGiants
  • Specialized trading accounts
  • Free VPS hosting
  • 24/7 instant money withdrawal
  • 4.2
    / 5
  • 4.5
    / 5
  • N/A
  • N/A
  • 4.1
    / 5
  • N/A
  • N/A
  • 4
    / 5
  • FCA
  • Yes
  • See review
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