In the four years since IQ Option was first launched, they have managed to achieve what used to seem impossible and to offer something truly unique. Their products are innovative and act as a breath of fresh air on an otherwise quite boring market. In this IQ Option review, we will take a look at the platform, the IQ Option demo account and much more. Is IQ Option a scam? How do you set up a demo? You have just found the most extensive IQ Option review avalible and we will help answer all your questions.
If you would compare the 10 leading brokers with each other, you would have 9 brokers that looked pretty much the same and IQ Option on its own. Their interface is playful, the design is clean and practical, and their in-house developed platform is one of our favorites.
Because of this, we usually use IQ Option for our own CFD trading and thus feel very comfortable recommending them to our readers. Also, considering that they had over 14,000,000 paying customers during 2016, it’s obvious that we are not alone in sharing these sentiments. IQ Option is by no means a scam but a very high-quality trading product.
IQ Option is sometimes referred to as IQOption. However, the correct spelling of the brand is IQ Option.
IQ Option Ratings - By BullMarketz & Visitors
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IQ Option Conclusion
In four years, IQ Option has managed to establish themselves as one of the CFD-brokers on the entire market with more than 14 million active users and 3 million daily transactions.
They offer a neat and innovative product with several practical tools and solutions that make trading as easy as it can get. There is no question why IQ Option is considered one of the best brokers in the game. In fact, we can only think of a handful of other brokers that have the slightest possibility to compete with IQ Option, which is why we gladly recommend them to our readers.
5 Things You Should Know about IQ Option
IQ Option is one of the biggest brokers in the industry and before we get started with our review we would like to mention 5 interesting facts about IQ Option that we thing everyone should know.
- IQ Option is not only one of the top brokers, but also one of the most highly regarded companies in the trading world. They have a strong reputation for being honest and fair and provide a great stable product to their customers. Additionally, IQ Option is fully regulated which is the most important factor for any broker that wants to be taken seriously in the business because it means that traders are offered a safe environment.
- Compared to their competitors, the developers behind IQ Option have managed to create a truly unique and groundbreaking product that feels very different from every other broker out there. The website and platform are playful yet useful and easy to use, but that’s not all. IQ Option has also developed separate industry leading products such as the cryptocurrency wallet Hodly and the cross-chain platform Open Trading Network (OTN) which will unite all cryptocurrencies under one roof.
- IQ Option represents some of the most impressive numbers in the industry. Between 2015 and 2017 the number of registered users grew from 8,000,000 to over 25,000,000, and during the same time period, the number of daily transactions increased from 646,000 to well over 1,800,000. Better yet, IQ Option’s projection shows that the broker is on track to increase their influence even further over the coming few years.
- Instead of trying to offer as many assets as possible, IQ Option has handpicked the most prominent ones from five asset classes including stocks and forex. During 2017, the broker took advantage of the fast-growing cryptocurrency market and now the broker is a leader in the field. In fact, cryptocurrencies are most likely the area that will help take IQ Option to the next level.
- Today, IQ Option has active accounts in over 67 countries from every available continent, from Africa and Europe to Asia and South America. Naturally, this makes IQ Option one of the most global brands in the industry.
Now, let’s get down to the nitty-gritty and start our IQ Option review.
IQ Option scam – Can You Trust the broker or is IQ Option a scam?
The most important question to ask yourself when choosing a new broker online is if you can trust them. In this case, the answer is as clear as it can get: IQ Option is not a scam. This means that you use all of IQ Option’s features and service without ever having to worry about getting ripped off. This is always one of the first questions we cover, and our review of IO Option is no different. Who is IQ Option?
IQ Option is run by a company called IQ Option Europe Ltd. and they have their main office in Cyprus where they are also regulated. Their CySEC license number is 247/14. In a world where most “license and regulation authorities” can’t be trusted, CySEC is unique. Their conditions and regulations are strict and as a broker, you need to keep the highest level of professionalism to even be considered for a license. A good rule is to only use brokers that have a license from CySEC or any other reputable authority such as FCA. Being regulated by these authorities also makes the onboarding process of new customers quite complicated. They have a KYC process that will require you to provide documentation in order to verify your account.
And if that wasn’t enough, IQ Option is also the official sponsor of an Aston Martin racing team. We can guarantee you that a well-established luxury brand like Aston Martin would never work with an untrustworthy company.
IQ Option has gone through all the steps and introduced all the necessary measures to ensure that their service and platform is safe to use. IQ Option is by no means a scam.
IQ Option’s Proprietary Trading Platform
Some brokers chose to use a platform designed by third-party providers, MetaTrader 4 is the most common one. Other brokers prefer to design their own platforms which is what IQ Option has done. Designing your own platform can be a bit of a hit or miss, but IQ Option has excelled at it.
Their platform is high quality and fun to trade with. It feels stable, it’s clear and easy to use, and it is aesthetically pleasing. More importantly, it makes the trading experience easier for us traders – something we always expect but rarely get to experience.
Focus lays on charts and analytical tools, and we couldn’t be happier with that part. The only downside with the IQ Option platform is that we wish it had longer closing times.
Most of their underlying assets are limited to the markets opening hours, which is fine if you’re a day trader. However, we know a lot of traders that like to combine shorter trades with investments that last for a few days. Unfortunately, that is not possible on the IQ Option platform. Because of this, we think that IQ Option might miss out on a big group of potential clients that would rather use a broker with more time options. We do however think that the IQ Option platform is one of the best in the industry and the broker is definitely comparable with some of the other big brands including Plus500, Markets.com, 24Option, and Trade.com. IQ Option simply outperforms most other brands.
IQ Option Trading Accounts
Today, IQ Option provides two different trading accounts. The traditional trading account is what you use to trade CFDs for real money, and the demo account can be used for risk-free trading with actual market conditions. You can read more about the different accounts below.
More on the IQ Option demo account
The IQ Option demo account is quite well known in the industry as it offers great opportunity to practice and full access to the IQ Option platform. Normally a demo account usually comes with some restrictions. The IQ Option demo does not, you get access to it all. If you are looking to register a demo account we can highly recommend IQ Option, it is one of the best demo accounts you can sign up for.
- Head over to IQ Option and register a demo account.
- No verification process is required for the demo.
- You will need to submit some basic information like your full name.
- Get full access to the IQ Option trading platform through the demo account.
IQ Option Leverage
CFDs are leveraged products, and you must educate yourself on this matter before you start trading. We have written a helpful leverage guide that you can check out and IQ Option also provides information on the subject.
Leverage is a method that increases your exposure on certain assets through money that you borrow from the broker. This means that you can invest small amounts of money and make large profits from small market movements. It also means that you increase the associated risk. Because of this, IQ Option checks every new client’s understanding of leverage before you’re allowed to start trading.
IQ Option’s leverage is currently different depending on where you reside. In the past, brokers were allowed to offer leverage that increased the value of your trends several hundred times, but today there are regulations in place for the European market.
The European Securities and Market Authority – the authority that oversees trading in Europe – decided to limit the number of leverage brokers are allowed to offer in order to protect clients. This means that IQ Option’s leverage is limited to the following.
- Major currency pairs – Maximum leverage 30:1
- Mid-range currencies, gold, and major indices – Maximum leverage 20:1
- Smaller currency pairs, other indices, and commodities – Maximum leverage 10:1
- Stocks and all other underlying assets – Maximum leverage 5:1
- Cryptocurrencies – Maximum leverage 2:1
As you can see, this is quite a drastic change, but it’s done in order to protect you and your funds from unnecessary risks. These are the maximum levels offered to European traders, and IQ Option has the right to limit customers even more. And if you live outside of Europe, your IQ Option leverage might be higher.
IQ Option App and on Mobile Devices
IQ Option designed a platform that is compatible with most mobile devices but with limited functions. It is best suited for simple analytic tasks and to keep track of ongoing trades. That being said, the app is of the highest quality and we have never experienced any issues with it. The IQ Option trading app is available for iOS and Android.
When comparing the IQOption trading application to many of the competitors it is very clear that they are one of the best in the business. People today simply demand a good mobile version of the trading platform as desktop is becoming less popular. On mobile, the trading is available 24/7 and at your fingertips. IQ Option has realized this and put a lot of effort into developing a really good mobile application.
Start an Account With IQ Option
Opening an account with any CFD broker requires you to go through a specific process divided into several steps. The process and requirements you have to fulfill have little to do with the actual broker but are set up by the regulatory bodies that oversee the industry. This means that the process is very similar regardless of which broker you sign up with and it also means there is no way around it. If you want to trade with an authorized broker, you will have to comply with the rules.
That being said, the process is neither hard nor does it require too much from you. In fact, the registration with IQ Option is pretty straightforward if you make sure you are prepared and have the needed documents at hand when you get started. Sometimes it can take a bit of time for IQ Option and other brokers to verify all your information.
In order to make this as clear and detailed as possible, we will divide the registration process into 4 steps and we will provide with tips and guidance to best make it through the process.
Step Number 1: Submit your information to IQ Option
The first thing you have to do before you can continue is to submit personal information that will be used to verify that you are you but will also help create your account and keep you safe in case something happens. This part of the process is the easiest, and you’re probably already familiar with it if you’ve ever signed up for any other service online.
IQ Option will ask you to provide your full name, address, phone number, email address, and other basic information. Make sure that you only provide correct information because you will have to verify it in the next step.
After the first step, you’re usually provided limited access to IQ Option’s services, meaning you can check out the website and see how your account will be set up.
Step number two: Verify your identity
This next step is for IQ Option to confirm that you really are who you say you are. This is their opportunity to double check that you are old enough to trade and that you live in a country where CFD trading is allowed. Most of this information will also be shared with CySEC and FCA, and they will use it to help protect you if anything would go wrong or if there would be any issues in the future.
To verify your account, you need to provide two things:
- A photocopy of your passport, driver’s license or national ID. The picture must be clear and all your information must be easy to spot. If the picture you submit isn’t good enough, IQ Option can request for you to do it again or even deny you access, so take it seriously.
- You will also have to submit a copy of a utility bill or a bank statement. The important part here is to make sure that the document you submit shows both your name and the address you submitted during step 1. Also, the document can’t be older than three months from the time of uploading.
Step three: Complete a Knowledge Test
Leveraged CFD trading is associated with high risk, and one of the requirements for a broker to be authorized by one of the regulatory bodies in Europe is to inform their customers of the risk. As a part of the deal, they are also forced to make you take a test regarding CFDs and leverage in order to determine your level of knowledge. The test is very straightforward and won’t take very long to complete.
After you’ve answered the questions, IQ Option will automatically evaluate your answers and then provide you with leverage limits suited for your personal knowledge. The better you score on the test, the higher your limits will be.
First Deposit
4. The last and final step is to fund your account with your first deposit. Compared to other brokers that often require you to deposit a few hundred dollars, IQ Option’s minimum deposit is $10. You will have to provide copies of your credit or debit card if that is your preferred deposit method. However, we suggest you use something quicker and more practical such as Bitcoin or Neteller.
And that’s it. You can start trading after you’ve completed all the steps and IQ Option has verified you, and you’ve made your first deposit. Note that IQ Option has the right to deny anyone at their own disclosure and they can ask you to provide additional information as a part of the registration process.
New features on IQ Option
IQ Option constantly works with improvement and development of their trading platform. In fact, IQ Option is one of the brokers we want to give a extra high grading on this particular area as they are miles ahead of their competition when it comes to being innovative. They are constantly pushing the limits and introducing new elements to their trading platform. In this section, we will try to keep up to date with some of the biggest new features on the IQ option trading platform.
Financial Instruments on IQ Option
We have clarified that IQ Option is one of the most innovative and trustworthy businesses on the market, and we have also talked more about the different accounts they offer. Now it’s time to take a look at the different assets you can invest in using IQ Option.
As the name proposes, IQ Option first became established in the industry through binary options. However, during their four years on the market, they have completely changed their focus to a more serious market and today they offer forex trading, stocks like CFDs, and cryptocurrencies.
You Can No Longer Trade Binary Options with IQ Option – IQ Option was first launched as a binary options broker but that is not the case anymore. During several years, IQ Options started switching their focus to the CFD and forex market and today they don’t offer binary options anymore. Also, in April 2018, the ESMA, European Securities and Market Authority changed the regulation, banning binary options trading and IQ Option are, of course, following those rules. This means that IQ Option is now a CFD broker in every sense of the word.
To read more about what ESMA decided to do and how their new regulations look we suggest you check out this article we wrote on the subject.
Forex Trading with IQ Option – With this broker, you have the option to invest in currency pairs, also referred to as the forex market. Currencies are exciting and very quick derivatives, and also one of our personal favorites. The goal is to buy a currency pair for a low price and then sell it when the exchange rate is higher, thus making a profit from the price difference.
IQ Option offers 22+ currencies (more than 100 currency pairs) which is more than enough for most people. For example, you can trade with American dollar (USD), British pound sterling (GBP), euro (EUR), Swedish krona (SEK), Turkish lira (TRY), and many more.
Crypto trading with IQ Option – IQ Option was an early adopter of cryptocurrencies and has long been recognized as one of the leading brokers for trading them. With Hodly, their very own crypto wallet, being launched we must say that IQ Option is our favorite broker for trading cryptocurrencies.
IQ Option is currently offering between 12 and 16 cryptocurrencies. For more insight in the IQ Option crypto trading, you can jump down a bit in this review.
Trade stocks with IQ Option – IQ Option is offering a whole bunch of stocks that you can trade via CFDs. You were not always able to trade stocks at IQ option and even today they are not specalized in stock trading altough still pretty good at it. If you are looking for volumes you can find other brokers who offer more stocks.
IQ Option is currently offering 478+ stocks that you can trade via CFDs (contracts for difference). Everything from Netflix to Micron Technology INC. Looking to trade Stocks? IQ Option may be the right choice for you. You can find more information about IQ Option stock trading if you jump down a bit.
Trade EFTs with IQ Option – EFTs are a great way to diversify your trading portfolio. If used right EFTs are also a great way to reduce risk.
Trade Cryptocurrencies with IQ Option
We are quite certain that cryptocurrencies are the future of payment methods online. In our opinion, it’s a natural development, and we can see how physical cash is slowly being phased out and how cryptocurrencies are taking more room. Every new generation requires a greater digital need, and before we know it Bitcoin might be the official currency everywhere.
The problem with cryptocurrencies is that they are unstable, at least if you want to use them as a method of payment.
In contrast, the fluctuating nature of cryptocurrencies creates perfect conditions for day trading, especially for CFDs. Since you can speculate on both upward and downward moving trends, CFDs and cryptocurrencies go hand in hand. And in 2017, IQ Option decided to join in on the hype.
At the time of writing, IQ Option offers 12 of the most popular cryptocurrencies. Among them, you’ll find Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Monero, IOTA, QTUM, Stellar, NEO, Bitcoin Gold, ZCash, Dash, and TRON. IQ Option is constantly adding new cryptocurrencies so make sure to visit our buy cryptocurrencies with IQ Option page for the latest information on what cryptocurrencies are available at IQ Option.
Cryptocurrencies can either be bought as long-term investments or as shorter trades in a day trading format, and IQ Option has decided to focus on the latter.
Hodly – A Crypto wallet by IQ Option
IQ Option has launched a new cryptocurrency wallet under the name of Hodly. Hodly is IQ Option’s very own and dedicated cryptocurrency wallet, and we have to say that the wallet is a great option. One of the biggest obstacles to why people have avoided trading cryptocurrencies is because it has been too complicated setting up a wallet -something that Hodly is working really hard on changing.
The goal with Hodly is to help to store cryptocurrencies in a more simple way yet safe way. Setting up a wallet for cryptocurrency storage today is a quite complicated process.
The Hodly cryptocurrency wallet is an innovative and cool new product with a really clean and neat design. As always with IQ Option. The wallet is very simple but powerful. With Hodly you can buy, sell, trade, send, and hold (hodl) a wide range of cryptocurrencies. Read our full review of Hodly
Open Trading Network (OTN)
IQ Option’s Open Trading Network (OTN) is the first fully decentralized cross-platform exchange that lets you seamlessly exchange cryptocurrencies between different blockchains. The platform offers several unique features and possibilities and can be considered the future of cryptocurrency trading.
OTN comes with two main products for users, it’s the OTN Wallet and the OTN Exchange. The wallet lets you collect several cryptocurrencies in one spot, and you are the only one that has access to them. That means that no exchanges can block your access. The wallet also lets you send assets between the different blockchains without extra commissions.
The OTN exchange lets you trade assets with each other on the same platform without having to switch back and forward between different systems. It’s a completely decentralized, transparent, and flexible exchange.
Open Trading Network has its one ERC20 Ethereum token that’s been launched to IQ Option users on a weekly basis since late 2017, and it’s the token together with the exchange that will help connect all the different cryptocurrencies and blockchains. Also, when withdrawing Bitcoin and other cryptocurrencies you pay a 2% fee, however, OTN tokens are free of commissions and fees.
Note that OTN is still under development and has not fully launched yet. Certain parts of the wallet are available and the token is, as mentioned, being launched continuously. We will update the review continuously as the project advances.
Trade Stocks as CFDs – IQ Option also lets you trade stocks but in an alternative way. Instead of providing access to the world’s stock exchanges, they use something called a CFD. This type of investment is a speculative one that has you investing without ever having to buy the actual shares.
Your job is to predict how the price of a stock will develop and then invest in that prediction. Unlike options, CFDs are securities but instead of buying the stock you buy a contract based on its price. You could call it a hybrid of security trading, speculative trading, and actual stock trading.
We understand that it might seem confusing, but trust us when we say it’s easy to get a grip on. IQ Option also provides an extensive educational program for all of the above-mentioned markets and so do we. Check the sections in the top menu to find comprehensive guides on every popular CFD market and don’t forget to check out our news segment for the latest trading news.
Lately, IQ Option has also put a lot of effort into publishing useful information about digital currency trading and CFDs. They have everything from tutorials and educational videos, to examples and ebooks.
Note that we have heard rumors that they are going to add ETFs to their selection, but we haven’t been able to confirm it yet.
IQ Option License and Regulation
In order for IQ Option to offer their services in Europe and the rest of the world, they need a special license and to be regulated by a reputable authority. IQ Option has a license from Cyprus Securities and Exchange Commission under license number 247/17. Getting a license from Cyprus Securities and Exchange Commission (CySEC) is not an easy task so any broker given such a license can be trusted.
IQ Option Payment Methods and Minimum Deposit
You have five options to choose between for depositing and withdrawing money from your IQ Option trading account. Some people might think five options is a bit limiting but we think it is enough. There are definitely brokers that offer more options, but these five are the most common ones.
- Visa/Mastercard/Maestro – Deposit money with your regular credit or debit card.
- Bank transfer – Transfer money from your bank account to IQ Option.
- WebMoney – You can use the online payment method WebMoney to deposit money into your account.
- Skrill – Deposit money with one of the world’s leading online payment methods.
- Neteller – Use the second biggest online payment method after PayPal.
Note that IQ Option doesn’t charge fees or commission for the above-mentioned methods, except for a bank transfer. The price for bank transfers is different depending on your bank and where you live, so we recommend that you check what applies to you before using this option.
The smallest deposit is $10 which is perfect for all recreational traders that can’t spend too much on trading every month. This is something that separates IQ Option from many other brokers out there as the minimum deposit otherwise usually is around $100-$250. For a recreational trader, this is quite a bit of money.
Please also note that we have not tested all payment options in our review, just the bank transfer option. If you experience any positives or negatives with any of the other payment methods be sure to leave a comment in the comment section.
What is the User Experience Like on IQ Option’s Platforms?
IQ Option has one of the most innovative and intuitive platforms in the industry, and it is a pure pleasure to use. In fact, the whole design of IQ Option’s CFD platform and associated products such as Hodly and OTN are so different from everything out there that it’s hard to compare them with anyone else.
The design of the platform is playful, yet serious. The functionality is thought through and they offer a truly unique experience. In terms of platform performance and design IQ Option is currently the king of the hill. When it comes to pure functionality there is several brokers that are on the same level or higher.
Overall we feel that IQ Option delivers one of the best platforms available today.
Using IQ Option on a Computer
We tend to do most of our trading on computers, and when it comes to IQ Option, it’s hard to not want to trade on the desktop platform. It’s extremely well designed and easy to use. Everything just flows and works as you would expect it. It’s obvious that IQ Option hasn’t cut back on any expenses and even though the platform can feel simple, all the necessary tools are available.
IQ Option’s browser-based platform is an excellent alternative in situations when you don’t have the ability to download the desktop version. Just like its “bigger brother” it’s easy to maneuver, smooth to use, and it definitely belongs to the top 5 best CFD trading platforms out there.
In addition, the downloadable IQ Option platform is available on Mac, PC, and Ubuntu (Linux).
If you can trade with the desktop version then we highly recommend doing so, not all situations allows for this so we will also take a quick look at the mobile and tablet version.
Using IQ Option On a Smartphone
The mobile version of IQ Option is a great mobile app that’s easy to use and provides all the possibilities you would expect from an industry-leading broker. It’s available to download on Android and iOS, and they both have great reviews which confirm our opinion. That being said, the available tools are limited, and we honestly think the desktop version is so good that we rarely use the mobile one. The mobile version is great to use if you are on the go and need to check in on your trades or invest in something quickly.
IQ Option on a tablet
The tablet version is pretty much the same as the mobile app, the main difference is the size of the screen. The mobile version is the most limited version. The tablet also has some limitations but less than the mobile version. The tablet version can be great to use if you are traveling or just want to check in on your trades, without a need for full functionality.
IQ Option Fees and Spread
You might already understand why we consider IQ Option to be one of the top brokers in the market and we think that most of the features are incredibly well thought out. However, if there is one thing that we would like to see improved and wished was fairer it would be the fees and spread.
Compared to many of their competitors, IQ Option has very high spreads for trading, especially cryptocurrencies. In fact, the spread for cryptocurrencies can be anything from between 2.5 percent all the way to 10 percent. Another thing we don’t like is that IQ Option advertises that they have “Competitive Spreads,” which isn’t true since it’s higher than the average.
On top of the spread, IQ Option takes out a 2.9 percent fee, or commission, for every cryptocurrency trade (buy and sell) completed on the platform. In addition, the broker charges an overnight fee for holding cryptocurrency and stock CFDs overnight.
With that said, IQ Option’s fee and commission system can feel quite confusing and we suggest you contact the IQ Option customer support if you have any questions. It’s important that you have an understanding of what each trade will cost before you get started so that you don’t get disappointed.
Note that forex trading is commission free on the IQ Option trading platform which we think is very fair.
IQ Option Customer Service
IQ Option’s customer service has been rewarded with several prizes since 2013, and it is obvious that good customer service and relations are important to them. We ourselves have been in contact with them several times and have been pleased with the service we’ve received.
This is what they themselves have to say about their service:
“IQ Option offers all customers 24/7 telephone support as part of our commitment to provide great service and to help cement our position as one of the best trading apps in the world.”
IQ Option has now launched a live chat function, on top of that they offer several regional phone numbers so getting in touch via phone is an option. If you are not comfortable contacting via phone then email is currently the best option. Many brokers today do not offer phone support so this is a massive advantage to IQ option. Many traders today want to be able to get first class support via phone call.
Update on live chat: You can now contact IQ Option via live chat.
So to summarize this you have 3 easy options to contact IQ Options.
- Send an e-mail to their support: [email protected] They will answer your question very fast, usually within a couple of hours.
- You can call the IQ Option support team 24/7. Phone number depends on what country you are from. Head over to the IQ Option website and find your local number.
- Live chat. This is one of our favorite options, you will get a reply within seconds.
IQ Option’s Prestigious Awards
Over the years, IQ Option has one several impressive awards for their industry-leading binary option’s platform and lately, they’ve started receiving awards for their CFD platform as well. Throughtout their history IQoption has been working very hard to deliver the very best platform and this has resulted in winning some of the best awards a broker can take down. Below you find a list of some of the most prestigious awards that IQ Options have received in the past few years:
- 2017 Award of Excellence – This acknowledgement is awarded by The Academy of Interactive & Visual Arts and it’s the highest honor one can get at the Communicator Awards. It was given to IQ Option for their innovative trading app that excelled in the financial industry.
- Century International Quality Gold Era Award – Was given to IQ Option for their outstanding commitment to providing a high-quality product in the realm of customer satisfaction. This particular award was awarded by the Business Initiative Directions Group.
- Best Technology Application – In 2016, IQ Option received another award for their industry leading trading app that they’ve worked tirelessly to perfect. This time it was The Web Marketing Association that awarded IQ Option.
- Most Reliable Binary Options Broker – Before binary options were banned in 2018, IQ Option was awarded with several awards for their safe and very serious binary options product. One of the most important awards they ever got was this title from Master Forex-V.
IQ Option FAQ
We often get questions about IQ Option and about what services they offer. Here are some of the most common questions we get about IQ Option.
1. First and most probably most importantly: What is IQ Option?
2. What types of accounts does IQ Option offer?
Practice account – Suitable for people looking to try out the platform. IQ Options demo account is free and easy to use.
Real account – Suitable for anyone looking to invest real money. this is the standard and most common account type.
VIP Account – Suitable only for advanced traders. The VIP accounts
The standard account comes with the possibility to trade with real money and to use the IQ Option platform. To be honest there are not many limitations to the standard account.
The VIP account comes with some additional features such as a personal account manager, better fees and profitability rates, much more training materials and unique offers for VIP traders
3. How does IQ Option make money?
4. What is the minimum deposit with IQ Option?
5. How do I create a real trading account?
6. How do I verify my account?
7. Apps for Android? PC? iOS? PC, iOS, or Android?
8. How do I withdraw money?
9. How long do I have to wait until I get my money if I withdraw funds?
10. Is there any documentation required to make a withdrawal?
11. How do I start trading with the IQ Option platform?
12. How do I trade binary options?
13. What are digital options?
14. What is CFD trading?
15. How does IQ Option's multiplier work?
16. What is OTN? And what are OTN-Tokens?
17. What cryptocurrencies can I buy and trade with IQ Option?
18. Is IQ Option avalible wordwide?
- Russia
- USA
- Canada
- Australia
- Belgium
- France
- Japan
- Turkey
- Israel
- Syria
- Sudan
- Iran
In most other countries IQ Option should be able to operate and accept customers. This may change in the future as we are facing stricter regulations.
Cons with IQ Option
No one is perfect in this world and even one of the world’s top brokers has a few things that they could work on improving. For example, compared to many of their competitors, IQ Option’s selection of assets is quite small. And even if this isn’t a problem for most, it can be restrictive and repetitive after a while. We have heard that they are working on adding more assets, but so far we haven’t seen any real updates.
Another thing that many professional traders don’t like is the lack of advanced analytic tools. For beginners, IQ Option is great and they provide all the tools you need and then some. However, if you’re a professional day trader that trades on several markets for hours on end every day, the number of tools and opportunities can make you feel like you’re being held back.
The last issue that we and many others have commented on is IQ Option’s fees and high spread. It’s just a little higher than what is justifiable, and most of their competitors manage to have lower spread which has us thinking that it must be possible for them to lower their fees.
IQ Option’s Office Space
We have already mentioned that IQ Option has several local offices spread out around the world, however, the main operating IQ Option headquarter is located in Limassol, Cyprus. In fact, IQ Option has a complete building that’s just theirs and that looks like a futuristic art project. It is obvious that the space has been inspired by the new playful and trendy design that companies such as Google and Airbnb started a few years ago.
According to previous workers, the tempo is high at the office but the atmosphere is relaxed. In addition, IQ Option employees are offered great benefits such as free health insurance, 13 months yearly salary, and free daily lunch.
Address to the IQ Option Headquarters is:
Yiannis Nicolaides Business Center,
Agiou Athanasiou Avenue 33, 4102, Limassol, Cyprus
What Do Experts Have to Say about IQ Options?
We have gathered a few knowledable people from the trading industry to ask their opinion on IQ Option, below you can read what others have to say about the innovative broker.
Personally, I think IQ Option is the most prominent broker in the industry for several reasons. However, the part that strikes me the most is how well-designed and easy to use the platform is. In fact, in today’s market, most brokers are using features and designs that are several years old which makes them feel outdated and hard to take seriously. The lack of drive is a major concern. IQ Option, on the other hand, provides a state-of-the-art product that’s like nothing I’ve ever seen before. They dare to challenge the perception of what a broker is supposed to look and feel like, and by doing so, IQ Option is pushing the market to new heights for everyone. Let’s be honest, any broker that struggles to keep up with the rapid development of the industry that IQ Option is spearheading will soon be forgotten.
As an avid cryptocurrency enthusiast, I also get excited from watching IQ Option’s ability to reshape the industry from an unlikely position. From the outside, it might look like the cryptocurrency market is controlled by the major exchanges and the developers behind the assets. And this is true to some extent and exactly what they want you to think. However, when you take a closer look at what’s actually going on in the industry, you’ll see a completely different picture where this relatively small broker is helping to reshape the industry with products such as Hodly and OTN. Adam, Senior Editor BullMarketz.com
For many years IQ Option has been my first choice for trading certain assets. Mainly cryptocurrencies. IQ Option excels at cryptocurrencies and now they are taking it to the next level by adding Hodly. A very simple cryptocurrency wallet. They also offer a really good platform that in fact might as well be one of the best in the industry for semi-professional traders like myself. The platform is beautiful to look at and very easy to use, it also comes with great functionality. The platform performs well on both desktop and mobile. I usually prefer to buy on desktop but to monitor and sell on mobile, so mobile functionality is extremely important to me.
If you are like me, a beginner or semi-professional, then I think IQ Option could very well be the right choice. As for professional traders, I have heard that the platform is great too but might be lacking some assets. It could very well be the case as IQ Option do offer a quite limited amount of assets. Read our other reviews (such as Plus500 review, Markets.com review, eToro review and 24Option review) for comparision of course Jimmy, CO-Founder BullMarketz.com
IQ Option review – Final Thoughts on the broker
When it comes down to it IQ Option is one of the most interesting brokers out there today, they offer a truly amazing trading platform that gives us an entertaining and good trading experience. Not only is the platform suitable for beginners it also comes with the advanced functions that more experience traders usually are looking for too. IQ Option also offers a free demo account with uncompromised access to the platform. You can try it without committing to it. On top of this, they have a good selection for forex trading, for cryptocurrencies and a decent selection for stocks. One of the most interesting aspects of the broker is how innovative they are. Always updating and adding new functions and features.
The broker is regulated and licensed and safe to trade with. They could, however, improve in certain areas. It would be nice to more stocks on the platform, they are in fairly short supply now. And the fees can always be discussed however they come with every CFD broker and are a necessary evil.
We hope that you have enjoyed our IQ Option review. If you still have any questions feel free to ask them in the comment section below. Also a note on our comment section, we are working hard on IQ Option to make sure the brokers really follow up and replies to all questions. Be patient and check back regularly to make sure you don’t miss the reply. Now for all of you who are ready to start your IQ Option account, we wish you the best of luck with your trading.
IQ Option interview – 5 questions about IQ option and their product
We reached out to IQ Option in order to conduct an interview with them and we got a chance to sit down with Alina, the VP in their affiliate marketing team. We asked her 5 simple questions we think ar relevant for our clients and readers.
1. Before we get started with the nitty gritty, who are you and what is your role at IQ Option?
My name is Alina, I am the VP of affiliate marketing in IQ Option. Mainly, I’m in charge of all types of affiliate relations in our company, and our team develops the most user-friendly experience for marketers who run their websites or ads for spreading the word about IQ Option.
2. Tell our readers a little bit about the IQ Option brand.
IQ Option is one of the leaders in online trading. Behind IQ Option is a great team that values hard work, integrity, and innovation. Our mission is to create the most exceptional trading platform out there, and we take pride in what we do.
3. Why should our clients pick you over other brokers?
Your clients should pick IQ Option because we are committed to delivering the ultimate trading experience. Every platform feature, every update is developed with traders in mind. We strive to provide clients with excellent trading tools and outstanding customer support. Traders are at the core of everything that we do.
4. How do you plan to stay ahead and remain one of the most innovative trading products today?
I believe IQ Option has become what it is today because we always look into what we can do to improve the platform. Comments and concerns from traders are taken seriously. Instead of focusing on our competitors and what they are doing, we focus on delivering what our clients want and expect from us. Sticking to our values is what enables us to stay ahead.
5. What is your take on the stricter regulations we are facing today?
The general attitude towards regulation is that it is something negative. I don’t consider it to be that way. Regulation is not the end of the world. In fact, it can come with its own potential benefits. Of course, stricter regulation means change, but change can help us evolve into an even better trading platform. We want traders to know we will always do our best to meet any new regulatory requirements that come our way.
IQ Option Ratings - By BullMarketz & Visitors
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IQ Option Conclusion
In four years, IQ Option has managed to establish themselves as one of the CFD-brokers on the entire market with more than 14 million active users and 3 million daily transactions.
They offer a neat and innovative product with several practical tools and solutions that make trading as easy as it can get. There is no question why IQ Option is considered one of the best brokers in the game. In fact, we can only think of a handful of other brokers that have the slightest possibility to compete with IQ Option, which is why we gladly recommend them to our readers.
COMMENTS
This broker has been my favorite for a long time since the platform is so good. Compared to a lot of other brokers it feels very fresh. I think sometimes their customer support team can be a bit slow to get back to me but overall I am quite happy with it. Had some bad luck some some investments and made a few other really good ones. I prefer trading crypto since that is my favorite. I iota, bitcoin and a few more. Other forms of trading I do include binary options and forex.. I have been trading with IQ Option for over 2 years… so I know what I am talking about.
I can tell you one thing, if you want to trade CFD or crypto with any broker today use IQ Option… there are other brokers like 24Option etc but they are not even nearly as good as IQption…
I like the review, its good and gives good insight. Maybe add some more videos?
Hi thetrader,
We are happy that you like the IQ Option platform. We agree, its one of the better platforms out there today. It makes it a lot more fun to trade.
// BM
Dear Friend,
We are so grateful for your kind feedback! We do our best to fulfill your expectations and ensure you are pleased with trading on our platform!
Please don’t hesitate to contact our support to get a certain help on any question. We work 24/7 https://iqoption.com/en/contacts
Wish you all the best of luck and ultimate trading experience!
IQ Option Team
Being fully honest here and I think the IQ Option platform is one of the greatest on mobile devices and for trading cryptocurrencies like ripple, bitcoin and more.. fees are quite substantial but I don’t trust the cryptocurrency exchanges..
The biggest problem now is the markets crashing and am just holding my coins.. if I sell now I will make a massive loss.
Hi Norway.
HODL is the way to go right now even it seems that the market crash is slowing down. Happy to hear that you like the IQ Option trading platform.
// BM
I would have to agree with this, platform is great but the cryptomarket is just insane right now. Thinking about selling to avoid too much losses. Even though I am currently at a loss.
Hi!
Thank you for working with us!
You may use our multi-chain wallet Hodly to keep your cryptos. It supports OTN tokens (ERC20) and other cryptocurrencies. You can use Hodly for purchasing and selling cryptocurrencies and tokens. Hodly belongs to IQ Option. If you have an account on IQ Option, you need to use the same login and password to log in Hodly.
Crypto market is really volatile, there are always ups and downs.
Wish you all the best!
IQ Option Team
I have created an account with IQ Option and I am currently using the demo account version. It seems pretty straight forward but I am having a hard time deciding what to actually trade. I have tried forex, cryptocurrencies and binary options.. so far binary is the most fun but it seems a bit more like spreadbetting?
What is the safest investment method?
The safest investment method is slow moving stocks, EFTs or bonds. They are generally much less prone to volatility. Cryptocurrencies for example can move up and down very fast.
// BM
Hello!
Thank you for choosing IQ Option!
The financial services provided by our platform carry a high level of risk and can result in the loss of all your funds. We would recommend you to choose less volatile assets and instruments. You should start with the minimal investments and in time, decide which trading instrument is better for you.
Best of luck!
IQ Option Team
The IQOPTION trading platform is just awesome, I have traded on almost all platforms and when it comes to design and functionality there is no one competing with iqoption.. I would say in terms of fees they are a bit expensive.. .this goes for most cfd trading brokers.. but yeah I am not suprised that this iqoption review is positive..
Thanks for sharing you opinion and we are happy to hear that you like IQ Option.
Hello!
Thank you for your high evaluation of our services! We are doing our best to provide the user-friendly interface and convenient trading tools for the ultimate experience!
The fees were currently lowered and are now one of the most competitive on the market.
In case you have any suggestions, please let us know! We will be really grateful!
We wish you a lovely day and great trading results!
Sincerely,
IQ Option Team
We agree that CFDs usually comes with a cost that in some cases are slightly high but we also acknowledge that the brokers need to charge on the spread to be able to provide these services.
Just a few general words on this broker as I am not too happy with the speed of the desktop trading platform, its a bit slow and sometimes it even lags. This is not due to my computer as I have a very good gaming laptop that for sure can handle trading. I have used other brokers before without problems I just think that the IQ Option platform is too advanced sometimes with functions that slows it down.
Hi,
When it comes to their desktop version they are aware that its a bit slow and that it can lag sometimes. If you are trading on a computer then its recommended to download the application to your computer and it should run smoothly after that.
Good luck.
// BM
Hello!
Thank you for your review!
It is very important indeed for us to know what you think and what issues do you face to work out the solutions.
We do have the desktop version which you may download on the website under the download section. The desktop version is a bit faster!
You may also check if the Internet connection is stable enough as, like you’ve mentioned, IQ Option platform is the complicated IT-product which requires a lot of resources for its best performance!
In case you have any further suggestions, just let us know and we will do our best to help you!
Hope you are having a great day!
Sincerely,
IQ Option Team
Alright so I will give a small user review for IQ Option, because before I signed up I was looking for this myself and I could not find it. I just want to make it clear that by no means I am a professional writer.
IQ Option user review
Score: 7 out of 10
I was looking for a good option with a platform that was not meta trader, because I was trading with the meta trader for a few years and to be honest I do not think its a good option anymore. So I did my research and the internet suggested that IQ Option was offering the best trading platform for CFD brokers right now, and they also offered many cryptocurrencies, which I was looking for.
The sign up process was pretty straight forward and will be so for you too if you have been trading before. You need to provide some standard documents such as ID or passport, and proof of adress etc.. pretty vanilla stuff.. nothing out of the ordinary. I think this is mainly due to regulations.. which in the end of the day is a good thing for us traders.
What did I like?
Well I signed up with expectations of getting a great trading platform and they delivered. I can say without lying that the IQ Option trading platform is hands down the best option if you are looking for a cfd broker.. The platform works great on desktop so be sure to download and install it..
Also they offer bitcoin, ethereum, litecoin, ripple and quite a few other cryptos.. since I really like trading cryptos this worked out pretty good for me.
What did I not like?
I could say the fees but any broker comes with fees so I am not going to do that. If anything, I think that the options of stocks is quite limited. Seems like they have specialised in cryptocurrencies and forex.. not sure whats up with that. Also, I just notice that they are about to remove binary options, which is something that I used to trade. They remove it due to regulations though so I assume its for the best 😉 I know these bad boys can result in quite some losses if you dont know what you are doing..
Overall I would put IQ Option as #1 now and I have used quite some brokers over the years, I would rank them 1 mainly due to their platform..
I hope this will be of help to someone..
Just wow! Thanks a lot for this user review of IQ IO Option, this is great. Exactly this is why we choose to have a comment section on our reviews. So all our users can share their experiences with the brokers.
Hello, Michael!
Thank you so much for your great review! It’s amazing how much effort you put into your words and we highly appreciate your opinion and your loyalty!
We have some good news for you! We have removed the commission for opening positions on CFD. There is an overnight fee but it can be both negative and positive, so you can even earn on it.
Moreover, we have widened the list of assets and keep doing that so our traders can enjoy trading their favorite stocks.
We wish you a great day and have outstanding trading results!
Sincerely,
IQ Option Team
I have been having some problems with the IQ Option platform, mostly based to performance. But it is also a bit of shady activity…. because the platform seems to freeze all the time I want to sell a position in profit….. well not every time but often enough for me to be irritated by it.. is this random? or do you think this is a scam? is iq option scam? have you been getting similar reports???
Hi,
I would not really call that a scam, its seems to be performance related issues. *
1. Always use the application or the desktop version of the IQ Option trading platform. This one is a lot better than the web-based one. The web-based platform is known to have performance issues and to be lagging and its generally recommended to not use that one. Make sure to download and install the desktop version.
2. Make sure that your internet connection is of very good quality. An underperforming internet connection will negatively affect the performance of the IQ Option trading platform.
I hope this will solve your problems. If not you can always reach out again or contact IQ Option directly.
BR,
BullMarketz
Hello and thank you for your review!
We agree with the point made by BullMarketz.com about internet connection.
There might be a few other useful recommendations, that can help with to improve performance:
– Please make sure there is no other application running while using IQ Option.
Torrent downloads for instance may slow down your computer speed quite a lot and affect trading.
– In case you recognize some lags in connection, please try to reload IQ Option application, it should help right away.
If you have some other questions left regarding this issue – please do not hesitate to contact us.
Best regards,
Alina IQ Option Team
Is IQ Option a scam or can you help me?
Dear IQ Option or BullMarketz, I am writing to get some help.. I withdraw my funds but they are being pending for over 7 days now. I am a VIP trader.. I recently made some good profits but so far they are not paying out my withdrawal and I think this is taking too long time.. Now I got a new account manager and he is asking me to send documents again even though I was approved and verified many months ago.. I am starting to get really worried over this usually payments have been done fast but this time over 7 days??? This is a payment over over $5000 and no one has even reach out to me to comment about it. What should I do?
I want to be fair so if IQ Option will be making the payment within 4 days then I will come back here and update my review.. but this seems very fishy.. I am not happy at all with this..
Hello!
We are sorry for the inconvenience!
Please kindly mind that according to clause 2.3 of our Payment Policy, in some cases, the Company may increase the identification process up to 30 working days. This is done in order to provide the additional security layer for your account and funds!
Please kindly wait until this period pass and our specialists will check all the details for you!
Sorry guys but I think you are complaining a lot.. I have been trading with IQ Option for several years and I must say that I haven’t experienced a lot of these issues that you are talking about here? How come? Maybe you had some problems with PC performance or internet connection? Always use the desktop app as is much better compared to the web browswer version (that once sucks, I agree) They are always improving the app as well with a lot of new features). A lot (most people here and on other places) – complain about taking out money.. about withdrawals… Where is the proof? did you maybe lose your money? 😉 Even in withdrawals, I never had any issues with IQ Option.. Some people complain about withdrawals taking time but you have to realize that when you take out a lot of money it will take time before you get it since the bank also need to verify such high amount..
Stop complaining! This broker is a lot better than most other brokers and we should give it a fair name..
Dear Friend,
Thank you so much for sharing your opinion and your positive experience with us! We truly appreciate it!
Bad reviews are usually written by those people who lost some of their investments due to incorrect predictions or by those, who had some kind of misunderstanding with IQ Option.
We can decline withdrawal in case we detect fraudulent activity on the account, also if we don’t receive all the required documents for verification or if one has used the third party’s payment details.
Otherwise, it should be fine.
Sending wishes for good health and luck to you and your dearest ones!
IQ Option Team
What cryptos will be launched in the future? Will they stay with the low amount? Many exchanges today offer a lot more.
And is trading CFD on crypto the same thing as buying the crypto?
Hello!
Thank you for your question!
There is no specific list yet but we will be happy if you could suggest us any ideas concerning the cryptocurrencies you would like to see on the platform!
Trading CFD means that you are trading on the price deviation of the crypto asset and get profit if you successfully predict the direction in which the price will move.
If you want to buy the real cryptocurrency, you are welcome to use our new product Hodly. Hodly is a multi-chain wallet that supports OTN tokens (ERC20) and other cryptocurrencies. You can use Hodly for purchasing and selling cryptocurrencies and tokens. Hodly belongs to IQ Option. If you have an account on IQ Option, you need to use the same login and password to log in Hodly.
If you have any further, just let me know!
Sincerely,
IQ Option
A few concerns…
1. Why is the platform slow sometimes? I have a very good laptop and its still lagging. Smells like a scam?
2. I see sometimes people have problems with cashing out bigger amounts, any official comment on this?
3. CFD is more och less just another version of binary options? binary was a scam no? that is why it is prohibited?
//
Hello Yasir Lawrence, thank you for your comment!
Let me answer your questions in order:
1. IQ Option application requires a very stable internet connection.
The reason for that is that we do have some complex features, that need to be run on a very high speed internet.
Please download our official application from our site. It is preferable to use Desktop application instead of Web version, because it performs in a much more consistent way.
2. In case Terms and Conditions are followed – there is not delay in withdrawal.
Please mind that under no circumstances we can block an account without any substantial reasons to that. That is simply illegal and therefore out of our practice. We do not block accounts based on their Profitability, this is illegal as well and can be traced.
If there is any specific question regarding withdrawals – our traders are welcome to contact Support Team and our specialists will investigate each case in details, in order to provide relevant assistance.
3. This is a very interesting question, thank you!
Binary options were unfortunately banned, due to high volume of fraudulent activity around it.
A lot of traders might have been scammed by other trades, that caused a negative perception of this financial instrument.
As for CFD on IQ Option platform – it has more similarities with Forex trading, thank with Binary for instance.
Among assets you will find companies’ shares. After that you will need to make trading decision on price direction in the future.
There is no expiration, so you are free to close your position when you are satisfied with your profit.
You may also find tutorial videos on CFD on our official page.
In case you have some questions left – do not hesitate to contact us.
Wish you a fantastic day!
Alina IQ Option Team
We would agree with the points Alina from IQ Option so neatly explained. To add to that, as for binary options, nothing final is decided on ESMAs end. They are running a trial period to see whether binary options should remain banned or not (read more: https://bullmarketz.com/european-regulators-are-imposing-limits-for-cfd-trading-on-cryptocurrencies-and-other-assets). Binary Options in itself is not a fraud, there was just a lot of brokers offering products that were not very serious.
what kind of support are they offering? via phone or email only like most other brokers?
Hello James, I hope you are doing great 🙂
You can reach us via 3 channels:
– Send us an e-mail to [email protected]
My colleagues will answer your question within maximum a couple of hours
– You may call us anytime 24/7
Could you please tell me what country are you from? We will provide you with a relevant phone number
– Please contact us via LiveChat on the platform, you will be assigned to our support specialist, who will investigate your case and answer all the questions you have 🙂
If you have some questions or ideas – please leave us a note 🙂
Best regards,
Alina IQ Option Team
I just opened a few new positions of different forex pairs, I also put a stop loss in order to reduce damage if it goes south. But then I wake up the next they and a few of my positions were closed but several off them remained open even though I added a stop loss.
I want to just warn users to check your positions and the stop loss, I dont know if I made a misstake or if this was a scam!! just be careful everyone..
Hello 🙂
Thank you very much for informing us about this issue!
First of all, I would like to ask you to send us an e-mail to [email protected]
Our specialists and technical team will carefully investigate your case.
It is important to keep in mind that deals are opened and closed according to the following rules:
– Long positions are opened with Ask price and closed with Bid price
– Short positions are opened with Bid price and closed with Ask price
On the chart itself you will see (Ask+Bid)/2 price
And you may double check Ask and Bid prices here:
http://prntscr.com/jr3jez
We will wait for your message on Support mail in order to resolve it asap.
If you have some questions or ideas – please leave us a note
Best regards,
Alina IQ Option Team
Thanks a lot for the reply. I was actually pretty sure that I might have done something wrong, I am by no means a profesional trader. It was just a bit frustrating that I screwed up. Anyway I very much appreciate getting a reply.
That’s a pleasure to help !
Enjoy your week and do not hesitate to contact us if you have any other question 🙂
If I start a demo account with IQ Option, will it run out of virtual money? I am looking for a broker where I can practice for a long time and I sign up with other brokers before and in all honesty its quite hard to do that since most offer demo for a limited time.
Hello there, thank you for this question 🙂
I have great news for you!
Yes, you can run out of virtual funds on IQ Option, but you can top up your balance any time.
So, basically, you may practice on demo account forever.
Do not hesitate to contact us if you have some other questions, and more important – do not forget to enjoy your day !
Hi Alina I see you are very active with answering comments here, I think that is great.
I have a problem with withdrawals but I am not sure why its taking so much time. Can you help me?
Hello there 🙂
Thank you for your comment, we are here to help traders to better understand IQ Option procedures and policies.
Unfortunately we do not have access to your account from here.
Would you be so kind to contact us via [email protected]
Our support specialist will carefully investigate your issue and provide you with a reply within maximum 24 hours.
We will be able to find the exact reason of withdrawal delay.
Please note,that in general it takes up to 9 working days for bank card withdrawals.
And ~4 working days for E-wallet withdrawals.
We will wait for your message, no worries – issue will be resolved!
Wish you a fantastic day!
This is a bad trading experience for me. I got ripped off by a scam broker recently it was impossible to get a withdrawal after several attempts. I had to hire an investment recovery firm to get my funds back. Glad this is finally over for me, happy to share my experience.