A Review of IQ Option – At The Forefront of Trading

(You invest on your own risk)

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.

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 binary options 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 sometimes referred to as IQOption. However, the correct spelling of the brand is IQ Option.

Create an account at IQ Option

 

Can You Trust IQ Option?

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.

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.

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’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 Trading Accounts

Today, IQ Option provides two different trading accounts. The traditional trading account is what you use to trade binary options 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.

Trading Account
IQ Option offers only one regular trading account without a welcome bonus. This because CySEC changed their policy about bonuses making it illegal to offer money or free products because it encourages trading. Sometimes IQ Option offers exclusive deals and events for traders with a large turnover, but you have to contact their customer service to learn more.

However, IQ Option has made a name for themselves by providing exciting competitions and trading tournaments. Read more about the latest opportunities on their website.

To recap, IQ Option only offers one trading account and the same conditions apply to everyone, no matter how much money you spend. It is easy to sign up for the trading account and you can start trading for real money today.

Create a Real Account
Demo Account
On top of their regular trading account, IQ Option has a free and completely unlimited demo account. It takes no longer than 1 minute to create an account to start trading in a risk-free environment, and it doesn’t require a deposit or that you submit your bank information. As the icing on the cake, the demo account is unlimited which means that your amount of virtual money gets refilled every time you reach a certain minimum level.

Create a Demo Account

IQ Option 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.

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 broadened their selection of assets and today they also offer forex trading, stocks like CFDs, and cryptocurrencies.

Trade Binary Options with IQ Option – IQ Option was first launched as a binary options broker, which is still their primary focus. Their selection consists of two different but very similar options; binary options and digital options. The binary options are still the asset that attracts most of their customers.

Binary Options – Your task is to speculate in what direction the price of an underlying asset will move and buy a binary option that matches your prediction. If you’re right you get a guaranteed profit of up to 95% of the invested amount and if you lose you lose the invested amount. Binary options at IQ Option can last from a few seconds up to a couple of hours.

Digital Options – When you trade digital options your task is not only to predict in what direction the price of an underlying asset will move but also how much it will move. What will the price be in 5 minutes?

This type of option trading is much more difficult than regular binary options although the profit is much higher. IQ Option offers up to 900% payouts on their digital options, and the risk is controlled meaning you always know how much you could lose.

Forex Trading with IQ Option – You also have the option to invest in currency pairs with IQ Option. 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.

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 binary options. Since you can speculate on both upward and downward moving trends, binary options 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 their site 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.

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. Just like binary options, CFDs are speculative and you never have to buy 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 binary options trading and stocks 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. Lately, they have 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.

IQ Option Payment Methods

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.

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 binary options apps in the world.”

Unfortunately, you can’t contact them via live chat, something we think should be standard in the industry. Hopefully, this is something IQ Option is working on adopting because if they want to stay relevant on the market, live chat has to be an option.

They do however offer several regional phone numbers.

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?

IQ Option is one of the leading trading platforms out there. In our opinion, looking at platform only, it is the best platform for trading right now. With IQ Option you can trade Binary Options, Digital Options, Forex, and Cryptocurrencies.

2. What types of accounts does IQ Option offer?

IQ Option offers three different types of accounts.

Practice account – Suitable for people looking to try out the platform.
Real account – Suitable for anyone looking to invest real money.
VIP Account – Suitable only for advanced traders.

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?

IQ Option has fees on buying, selling and trading. The fees vary depending on many factors such as what type of trading you do, what assets you use and which cryptos you buy.

4. What is the minimum deposit with IQ Option?

The minimum deposit with IQ Option is €10. This is lower than most other brokers.

5. How do I create a real trading account?

First of all, you need to register. Follow any link in this review pointing to IQ Option and you will be able to find the registration form. Once you register you will automatically have an account with two options. One will be a demo account with a certain amount of virtual money to spend and the other will be a real account. To trade with the real account you will simply have to make a deposit. Once that is done you can start trading with your real account.

6. How do I verify my account?

All regulated clients have to verify their identity within 7 days after account registration. You verify your account by uploading a government-issued ID and Proof of Residence, for example, a utility bill in your name. Documents can be uploaded to the trading account. Non-regulated clients only have to provide documents upon withdrawal of funds. In addition to that, in case a client withdraws money to a bank card, he has to provide pictures of that bank card from both sides. The verification process is necessary for your safety.

7. Apps for Android? PC? iOS? PC, iOS, or Android?

IQ Option has a great application for all devices and on the most popular operating system including PC, iOS and Android. In fact, the IQ Option platform works better with the applicated. It also runs in your web browser but if you are looking for high performance it is generally recommended to download the application.

8. How do I withdraw money?

In order for you to withdraw your hard-earned money from IQ Option you will have to navigate to “withdraw funds”. Once you go there you will be presented with different withdrawal methods. You will have to pick a preferred method and once you request a withdrawal it is usually handled within 24 hours.

9. How long do I have to wait until I get my money if I withdraw funds?

IQ Option are doing their utmost to process all withdrawal requests within 24 working hours. Once the withdrawal has been taken care of on IQ Options end it depends on what payment service provider you use. Some payment providers are fast, like skrill and Paypal. Banks are usually slow and will require up to 5 days in some cases.

10. Is there any documentation required to make a withdrawal?

You will need to verify your account if you want to withdraw your money. See the answer to the question “How do I verify my account” to understand what documentation is required in order to verify your account. It is usually quite easy to verify your account if you provide the correct documentation

11. How do I start trading with the IQ Option platform?

If you have not used IQ Options platform first our recommendation is that you try out the free demo account and that you go through the tutorial videos provided by IQ Option. The videos will give you a solid understanding of how the platform works. We also recommend that you don’t start trading until you feel comfortable. Get to know the platform before you get going.

12. How do I trade binary options?

Binary options trading is one of the fastest trading forms. Simply explained you need to predict if the price of an underlying asset is going to go up or down. Increase or decrease. If you pick the Call option it means that you will get profit if the price is higher than the opening price once the option expire. And if you choose the put option it means that you get profit if the price of the asset is lower than the opening price once the option expire. Binary Option is pretty simple to understand but can be a tricky and fast phased trading form. Make sure to educate yourself before taking any unnecessary risk. There are very few legit brokers today offering Binary Options but IQ Option is one of them.

13. What are digital options?

Digital options are extremely similar to binary options trading explained in the previous question. A digital option is an option where you get a payout once the underlying asset exceeds the predetermined price. The payout will vary depending on the result but if you are on the right side once the digital options expire there is a potential payout of up to 900%. Digital is, to our knowledge, something unique with IQ option today. We have not seen any of our other brokers offering it. It is a high risk, high reward style of investing so be careful.

14. What is CFD trading?

CFD is short for Contracts for Difference. It is a contract between two parties, in this case, you and IQ Option, who speculate on the price of an underlying asset. With IQ Option you can trade CFDs on Cryptocurrencies, Forex, and Stocks. If you are new to CFD trading and/or the IQ Option platform we recommend that you look at all tutorials relating to CFD trading. Also please be aware that CFD trading is a high risk and high reward trading style. Always educate yourself to minimize the risks.

15. How does IQ Option's multiplier work?

It is very common that CFD trading involves a multiplier. A Multiplier will basically allow you to effectively multiply the amount that you choose to invest. When you choose to use a multiplier you increase the potential profitability. If you are investing $100 in for example EUR or USD a multiplier will be able to magnify the profit. Keep in mind that a multiplier works the same way with losses. A multiplier can mean more profit but also bigger losses.

16. What is OTN? And what are OTN-Tokens?

OTN is short for Open Trading Network and its a platform that aims to unite all isolated blockchains platforms and participants in the market. OTN is partly financed by IQ Option and OTN-tokens are supported by the IQ Option trading platform. You can read more about the OTN project here: https://otn.org/. OTN-Tokens are being distributed on the IQ option platform by IQ Option. You can get these when trading. Then what you choose to do with them is up to you. They work like any other cryptocurrency. OTN tokens can, for example, be used as a means to pay the commissions when buying a cryptocurrency with IQ Option. OTN-Tokens may also have the ability to be converted into OTN coins once the OTN-Platform opens up its doors.

17. What cryptocurrencies can I buy and trade with IQ Option?

Right now there is minimum 14 cryptocurrencies available to buy at IQ option. Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Dash, IOTA, QTUM, Stellar, TRON, Bitcoin Gold, ZCash, Monero, and NEO. However, IQ Option is quite active with adding cryptocurrencies. We foresee that they will offer more in the future.

 

COMMENTS

WORDPRESS: 2
  • comment-avatar

    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?

  • comment-avatar
    Norway 1 week ago

    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.