The IQ Option Review

IQ Option was founded in 2013, and, since then, it has grown quite rapidly. In 2014, there were just under 1 million users with this broker. By 2020, the brand had over 40 million registered users. Additionally, trades over that time period increased 800%, with IQ Option hitting a trade volume of $290 million per month in 2020. Traders also withdrew $20.375 million from the platform in 2020.

IQ Option has also raked in the awards, including recent accolades such as:

• “Excellence In Forex Trading Platform Global” –Global Business Review (2022)
• “Best Trading Platform” –FX Daily Info (2022)
• “Fastest-Growing Online Broker in Asia” –International Business Magazine (2022)
• “Best Trading Experience” –WorldForexAward (2022)

Read on to see what this broker has to offer its clients. Traders will be impressed with the wide range of assets offered, as well as the 24/7, multilingual customer service.

Pros and Cons

Pros

• Proprietary Platform Available
• Crypto Trading Available
• Wide Country Range Of Service

Cons

• No MetaTrader 4

Recommended For

IQ Option is recommended for traders of moderate to advanced experience levels who want a broker with a proprietary platform. Though the video tutorials are a great educational tool, the rest of the educational resources on IQ Option are not extensive. So, you should have at least some basic knowledge of trading before signing up with this broker. Additionally, traders who want a broker that offers a wide range of cryptocurrency will like IQ Option, as that is one of its highlights. As long as you don’t mind not using MetaTrader, IQ Option is worth taking a look at if you fall into those aforementioned categories.

Regulated By

• It's regulated by CySEC in Cyprus and is also registered with other governmental organizations, including the British FCA, CNMV in Spain, the Italian Consob, and Regafi in France.

Account Options

• Broker Type: Agency-Only Broker
• Minimum Deposit: $10
• Forex Majors Spread: 1:500
• Scalping: Yes
• Hedging: Yes
• Free Demo Account: Yes
• Traders From USA: No

Top Features

• Fast-Growing Brand. IQ Option is one of the world’s fastest-growing online trading companies. Traders who want a company with some staying power in the industry will approve of this broker, as it has been around for nearly a decade. IQ Option now has around forty-million members, according to its website. This is a broker with a footprint, to say the least.
• Video Tutorials. It’s always nice to see a broker that offers at least some educational tools. Though it doesn’t have as wide a range of resources as other brokers, IQ Option still provides its traders with video tutorials that cover topics like basic information, margin trading, fundamental analysis, CFD trading, and technical analysis. There are also videos about the company itself and its history.  
• Stock Collections. Trading stock has the potential to possibly be lucrative, and IQ Option bundles different collections of stock into one convenient setting. These collections include, IT & Internet Blue Chips, Big Game of Money, 10 Dividend Kings, 10 Largest U.S. Companies, Warren Buffett’s favorites, and more. There are also collections in industries such as energy, materials, industrials, consumer discretionary, and others.
• Access to Historical Quotes. IQ Option allows its traders to view historical quotes on exchange rates of financial instruments (currency pairs, etc.) over time. You can download this information, using it to test and apply different analyses and strategies.
• Tournaments. Who doesn’t love a good contest? This broker occasionally offers Online Tournaments for its traders, according to its website.
• Cryptocurrency Trading. Over the years, IQ Option has developed a reputation for being a great crypto broker with a wide range of coins. You can choose from many different digital assets, including majors and minors. These assets are an attractive option for traders who want a decentralized, if volatile, currency.
• Customer Support. IQ Option offers 24/7 customer support in over a dozen different languages. This is more expansive, in terms of hours and multilingual capabilities, than we’ve see at other brokers.

Overview

• Type of BrokerNon-Advisory/Executionary Broker
• Regulation & LicensingInformation not disclosable due to privacy reasons.
• Clients Accepted from170+ Countries
• Assets OfferedStocks, Forex, Crypto
• Platforms AvailableDownload, Mobile
• Mobile CompatibilityiOS, Android
• Payment Types AcceptedWire Transfer, Bank Card, Electronic Payment Systems & Crypto payment methods in some countries

Account Types

Features

Access To All Assets IQ Option Provides

Account Currencies

USD+

Available Leverage

Varies Based On Asset (See Pricing Section)

Minimum Deposit

$10

Commission Per Trade

Varies Based On Asset

Decimal Pricing

Up to 5

Trading Instruments

Forex, Stocks, ETF, Options, Crypto

Min. Lot Size Per Trade

.001

Spreads

0.6 pips EUR/USD (Varies By Asset)

Demo Account

Yes

Swap/Rollover Free

Yes, Islamic Account Available

Copy Trading Support

Yes

Trading Platforms

• IQ Option Proprietary Platform
• IQ Option App (Google and Apple)

Trading and Investment Tools

• One Click Trading - Yes
• Trade off Charts - Yes
• Email Alerts - Yes
• Mobile Alerts - Yes
• Stop Order - Yes
• Market Order - Yes
• Trailing Stop Order - Yes
• OCO Orders - Yes
• Limit Order - Yes
• 24hr Trading - Yes
• Charting Package - Yes
• Streaming News Feed - Yes

Fees & Commissions

• Rollover Fee - 0.01-0.05%
• Margin Interest - 1.75% (America), 0.75% (Australia), 0.25% (Administrative Fee)

Pricing

There are a few fees to note with IQ Option, including a second withdrawal fee of 2%. This applies to the second, not the first, withdrawal a client makes each month. This fee is fixed. Also, IQ Option charges 10 euro as a dormant account fee. This fee hits after ninety days of inactivity.

Finally, there is an underage account fee of 20 euro if IQ Option has to close an account because it has been verified that a citizen is not of legal age in the country in which he or she resides. The leverage that a client receives is largely based on the asset as well as where the trader lives.

Non-EU Countries & Traders Receive Leverage of up To:

• Standard Crypto CFDs: 1:10
• Forex: 1:1000
• Stock CFDs: 1:20
• Commodities: 1:150
• ETFs: 1:100
• Special Crypto CFDs: 1:100
• Stock Indices: 1:150

Service Details

• Supported Languages17 Languages
• Customer Service ByIQ Option (24/7)
• Customer Service Hours24/7
• Email Response TimeWithin 24 Hours
• Telephone OrdersNo
• Personal Account ManagerYes, For VIP Clients

Reliability & Security

According to the IQ Option blog, this broker takes secure storing of funds seriously. Regarding reliability, IQ Option has its own platform. This platform includes features like analysis and alerts, a Trading Community, and risk management add-ons. Those who want the MetaTrader suite should go elsewhere, as IQ Option has its own platform for traders.

User Experience

If you look at reviews from aggregate consumer sites, IQ Option has received mixed responses. Here are some of the ratings IQ Option has received, as well as their sources:

• Fotunly: 4/5
• Trade Options With Me: 1.8/10
• WikiFX: 1.9/10
• Google Play: 4.5/5 (App Rating)
• UpSkillsWise: 4.2/5
• SAShares: 4.5/5
• Binary Options: 5/5
• FX Scouts: 3.4/5
• Tech Radar: 4/5

Final Thoughts

Overall, IQ Option is a solid broker. Its highlights include cryptocurrency offerings, proprietary platform, and 24/7 multilingual customer service. This broker has longevity in the industry of around a decade. With forty million registered users and counting, IQ Option must be doing something right.

Contact Info

Website: https://iqoption.com/

Email:support@iqoption.com

Telephone:+13468009001 (English)

Company Address:
Hinds Building, Kingstown, St. Vincent and Grenadines

 FAQs

Q: How much can you withdraw with IQ Option?
A: This broker allows you to withdraw up to $1 million in your earnings, though it’s unlikely traders will wait that long before deciding to withdraw.

Q: Are there withdrawal fees?
A: Though your bank or payment service might charge a fee, IQ Option processes your preferred method within a working day. There are no charges or withdrawal fees for this broker.

Q: How do I sign up?
A: Go to https://iqoption.com/. Click the right-hand orange “SIGN UP” button and fill out the required information to start an account with this broker.