This material is not intended for viewers from EEA countries. Binary options are not promoted or sold to retail EEA traders
IQ Option is a leading online broker offering binary options, CFDs, cryptocurrencies and forex trading. The detailed review includes a full rundown of the trading platform, mobile app review, information on how to use the demo account effectively, and tips on strategies and options. Join millions of other traders and log in today.
Financial products offered by the company carry a high level of risk, you may lose all your funds. You should not invest money you cannot afford to lose
Trading platform
To provide clients with access to financial markets and online trading, IQ Option has developed its own custom trading platform and a range of tools. The platform’s interface and features are modeled on advanced systems used by the spot forex trading industry, so it’s not something most binary traders use.
IQ Option software includes tools such as stop loss and profit levels, features not available in ‘standard’ binary operators.
To add trader risk management and trading strategy selection, the company has also created a ‘position top-up’ feature. This is a mechanism that allows a trade to be opened above a stop loss.
Strategy Tools
The strike price and trade buttons are clear and intuitive, as are the price graphs and charts. Navigation is simple and traders can easily switch between assets and markets. Additionally, the entire layout is configurable and customizable, allowing traders to move multiple graphs or analysis tools to their preferred location to suit their trading strategy.
Customizable elements make this one of the best trading platforms in the industry.
The platform is available as a web-based hub or merchants can download a version for PC or Mac. Downloads are much faster. There are also mobile platforms. All platforms are stable, but PC downloads have the fastest transaction execution times.
Currently, there is no Metatrader 4 (mt4) integration.
It is clear that the software is one of the most sophisticated trading platforms in the binary industry, especially over-the-counter (OTC) brokers.
This website is available 24/7 so there are no ‘opening hours’. However, the asset can only be traded when the relevant market is open. Many forex pairs are traded 24/7 during the week, but US stocks can only be traded when the NYSE is trading.
Chart
Apart from offering a refreshing user interface, the trading platform allows you to change the chart view by choosing from 4 different layouts.
- Line
- Candlestick
- area
- 바
Timescales for bar charts and candlestick charts can be selected from an impressive 18 different intervals, and several graphs allow you to see trends over more than one timeframe.
There are also various other tools such as a line drawing tool that traders can use to draw their own trends on live charts. The latest update also adds rich technical analysis features. Several indicators such as Bollinger Bands, Moving Averages or Relative Strength Index (RSI) can be placed on the chart. There are nearly 20 different indicators.
These charts allow active traders to identify opportunities across different timeframes using price action patterns, enabling accurate forecasting.
One of the most useful features of the trading platform is that it allows traders to place multiple trades on the same graph. This is especially useful if you want to use more sophisticated trading strategies or trading signals. Turbo and Martingale strategies are easier to implement if you can monitor your open positions on the same chart.
Trade sizes range from just $1 up to $10,000 for classic options.
Forex and crypto products
Newer offerings such as forex and cryptocurrency trading display slightly different options depending on the market being traded. For example, trading forex will increase leverage and prevent losses. Assets such as Bitcoin or Ethereum traded through contracts for difference do not have an expiration time. However, they place a stop loss and take a profit. The new forex product also enables weekend trading.
The look and feel remains the same throughout the trading range and all relevant information is provided to the trader. So, traders familiar with binaries can still feel at home if they want to trade forex.
mobile app
The IQ Option mobile trading app follows the development of bespoke trading platforms and provides a seamless mobile user experience. The trading area looks Sam, and the screens, buttons and ‘look and feel’ are identical to the full website or desktop download.
The IQ Option Android app is developed exclusively for Android devices as the mobile application is available as a custom product for each operating system. Similarly, iOS apps are written with the iPhone or iPad in mind and allow you to get the most out of these devices. What IQ is being known for is attention to detail.
Apple’s recent changes regarding binary-related applications were expedited by IQ Option. The iOS version has been redeveloped to comply with the new rules. Their ability to adapt to the changing investment environment is reassuring. The new version includes Forex and CFD trading, and once launched, cryptocurrencies trading is also available.
There is also an ‘IQ Option for Windows’ version, as well as Android and iOS versions. The download button below will take you directly to the Google Play or App Store and the latest version of the mobile trading app.
Download the IQ Option App
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Demo video
Below is the IQ Option demo video. A full demo of all the developments added during the recent ‘Platform 4.0’ upgrade. The demo includes how users can modify the trading area to suit their own needs. We show you how to view the same price chart across more than one timeframe, how to add technical analysis overlays and how all of this can improve your trading results.
The video is not an out and out tutorial, but a full demonstration of the user experience, the new trading platform and how it differs from other binary options broker platforms.
Trading Options (CFD, Forex and Binary)
IQ Option has continuously added to its portfolio of underlying assets. Traders can trade in 4 major asset classes: forex, commodities, stocks and indices. They also respond to user needs.
Currency pairs are IQ’s strength, with more exotic currencies available including NOQ, SEK and TRY. The asset listing is comprehensive, allowing traders to build their careers in a variety of markets. The dollar, euro, yen and pound sterling still dominate most forex trades and produce the bulk of trading volume. EUR/USD is the most popular trading pair.
The company has also added an expiry time range. Previously specializing in short expiry, IQ now offers more options including popular end time expiry, long end time and end of month. The choice of merchants has never been so great.
Forex and CFD trading further expands user choices. Forex can be traded per pip in addition to binary trading and CFDs can be traded without expiry for long term trading. A recent cryptocurrency extension provides access to Bitcoin and six other cryptocurrencies through contracts for difference.
A forex multiplier is a feature added by IQ Option to provide a level of leverage. The max multiplier now hits an interesting x1000, but this will affect your profit or loss. So you can take advantage of even small movements in the currency market by expanding your trade size to x1000.
CryptoCurrency Multipliers
In addition to traders being able to trade crypto assets using CFQ, Forex or Classic options, IQ Option also introduces a new instrument called crypto multiplier. These trades are effectively leveraged trades. The base price is still a key factor, but using a multiplier widens the deal. This increases your potential profit or loss on any trade.
Initially, IQ only offered Bitcoin x 100. As the name implies, it is the price of Bitcoin multiplied by 100. Increased volatility in an already volatile asset – ideal for traders.
The product was so successful that IQ expanded it. So you can use multi in more cryptocurrencies such as Ethereum (ETH), IOTA, TRON and Ripple. Multipliers range from x20 to x50 and x100 in Bitcoin. It provides another high risk/reward path for traders to profit from crypto assets.
Trading costs (spreads, commissions)
When comparing brokers, you need a broker whose fees and costs are transparent. To determine the cost of IQ trading, you need to consider the following:
- Spread – The difference in price between the buy and sell values. This depends on things like volatility, assets, liquidity and even time.
- Withdrawal fees – one withdrawal per month is free, for each subsequent withdrawal a fee of 2% of the amount withdrawn is charged, but not less than $1 and not more than $30
- Commission – 2.9% commission is charged on cryptocurrency trading. There are no fees at all in other markets.
- Swap Fee – A fee is charged for certain transactions held overnight. Varies from 0.1% to 0.5%, higher for open weekends.
- Inactive Account Fees – If your account is inactive for 90 days, you will be charged €10 (or currency equivalent) per month until your balance is zero.
Deposits and withdrawals
You can deposit using a number of options, which vary depending on your country, but popular methods include debit and credit cards, e-wallets such as Skrill and Neteller, and cryptocurrencies through Hodly services. Bank transfer via debit card is also one of the most popular option.
IQ Option recently introduced AstroPay to facilitate payments in regions where options were scarce in the past, such as Brazil, Argentina or Vietnam. IQ also now accepts bank transfers from a variety of Asian banks(*the information is relevant at the time of the review and is subject to change).
- Thailand – Bangkok Bank, Kash Khon Bank, Krung Thai Bank, Siam Commercial Bank, Ayudia Bank, Government Savings Bank, TMB Bank.
- Philippines – Help2Pay
- Indonesia – Central Asia, Rakyat Indonesia, CIMB Niaga, Negara Indonesia, Mandiri.
- Vietnam – Vietcombank, Investment and Development Bank, Techcombank, Vietin Bank, Asia Commercial Bank, Sacombank, Donga Bank, Eximbank.
- Malaysia – Supported banks: Maybank, RHB Bank, Public Bank, Hong Leong Bank, CIMB Bank, AmBank
South Africa is supported through a number of new payment methods including Perfect Money. In fact, Perfect Money accommodates a wide range of regions including South America (Argentina, Brazil and Colombia).
China Union Pay provides payment solutions for traders in China, Taiwan, Hong Kong or Macau
safe
Deposit errors are rare, and the support desk is usually available to help users if they run into any issues. Depositing with IQ Option is safe.
Withdrawals can be made using the same list of methods. Withdrawal methods often require verification, and withdrawal evidence remains in the user’s area for the duration of the account’s validity, for auditing, etc.
Account type
Standard trading accounts require a minimum initial deposit of $10. A basic account includes all option types, withdrawal options and features as a higher-level account.
The company offers a VIP account. Available to clients that deposit significant amounts (the exact amount is subject to change). Benefits of VIP status include:
- Personal manager
- Higher profitability rates on options
- Free participation in trading tournaments (regular users are sometimes required to pay entry fees)
- Exclusive educational materials, Public VIP chat rooms
Payouts
In terms of return on investment, Standard Payout offers very competitive rates. Under the right circumstances, traders can receive payouts of up to 91% for successful trades. This payout depends on the asset selected and the expiration time. The 91% ‘headline’ payout is among the best in the industry. The term ‘Profit Percentage’ is not a guarantee of profit, but refers to the profit when a single successful trade is made.
Forex and CFDs
Payouts for products such as Forex and CFD trading depend on the performance of the underlying asset. IQ offers the risk management tools you would expect when trading these tools. This includes Stop Loss and Custom Leverage (which can be set to 0). The new product moves IQ Option into a league of major global brokers, and their offering certainly rises to that level. You can also directly access Bitcoin and Ethereum transactions.
Spreads on Forex and CFD trading are also competitive. Therefore, the costs or fees of doing business with IQ are low and on par with larger online brokerages. A free practice account is a great way to experiment with different asset types risk-free.
Is IQ Option a scam?
IQ Option is ‘legitimate’ reliable business. Their affiliate network ensures that all markets are responsibly and the nature of trading is accurately reflected.
Trading with IQ Option is legal worldwide, from India to Ghana to Vietnam.
History
Founded in mid-2013, the brand is one of the most trusted and innovative binary brokers in the industry at BinaryOptions.net. Its reputation has also been enhanced with various awards from various industry evaluators. They list their awards all over their website. – The award lists cited on their website are reputable comparison sites and confirm their reliability. IQ Option is safe and not a scam.
Our user satisfaction feedback is positive for IQ. – Users use the IQ Option platform for months and years with few complaints. Forum replies are also positive.
Site connectivity issues (site “not working” or “not loading”) are often local issues to users rather than actual issues with the platform. Likewise, ‘server down’ or similar errors are usually client-side, not the true problem with IQ Option.
The company operates in a highly transparent manner to maintain its reputation and user trust:
- Free practice/mo account – no time limit in parallel with real account. IQ Option puts its faith in its trading platform to help traders hone their skills and maintain trader retention for the time it takes to hone their skills. Demo downloads are available, but traders can simply use the full mobile-friendly website. You can reset your demo balance by contacting our support team.
- Hedging – IQ is clear about when and how to hedge their positions. This should act to reassure traders who are afraid that ‘over the counter’ brokers want to lose traders. IQ actively manages risk.
- Support – Support is available in many languages and includes live chat to quickly resolve complaints. Users who need to unblock, delete or close their account should contact phone support.
- News – event schedule and brand news delivered to the user area.
Demo account
IQ offers industry-leading demo account conditions. It is a deposit demo account . The balance can be restored to $10.000 as often as needed, and the working account is long-term and has no time limit.
A demo or virtual account can also be operated alongside a real account rather than “on behalf of” it. This allows real money traders to change to a demo account and try new strategies without real money risk. It is the most flexible demo account available and completely risk-free. This offering along with the lowest deposit is what makes this broker grow so fast. This is also why the brand attracts beginners and novices. It shows confidence that they have the best trading platform, and they know that once traders have used it – they will stay with them.
Country
IQ offers trading in a variety of countries and supports multiple languages. In 2014, the company operated in 18 countries, up to 178 in 2016. However, in some countries trading with IQ is not possible due to regulations or local laws. Therefore, traders from Canada, USA and Australia cannot open accounts at this time.
The company is also growing very fast in Asia and binary is becoming legal in India. They recently added several regions to the list, including:
- Malaysia
- Singapore
- Thailand
- India
- Pakistan
- Philippines
Other areas of growth include Africa, where Ghana and Nigeria are seeing a number of new traders. This growth is aided in part by a ‘softer’ regulatory regime. It works really well with responsible brands like IQ Option. Marketing has been pushed in the UAE, Brunei and even Japan for similar reasons.
Traders from these regions can now register with IQOption. The login process is very fast and signing up for a demo account only requires an email address. In addition to the login screen, traders must deposit real money before trading. However, the minimum deposit is $10, the lowest in the industry. The minimum transaction is equally low at $1 per transaction.
Tournament
The trading platform has regular trader tournaments. Each tournament has its own set of conditions. These are usually competitions based on trading success with leaderboards. As this is how brokers encourage trading, tournaments are usually determined by the total amount of profit over a given time period.
It provides a great way for traders to compete with each other and generates a lot of interest. The terminology can often differ, so one tournament might focus on short-term options and another may look at a specific asset class, such as forex.
Often the winners of these contests receive substantial prizes. They range from cash rewards to more unique prizes. Such tournaments really reinforce the customer-friendly atmosphere that the company promotes, and they are worth paying attention to.
Strategy
Specific strategies for use at IQ Option are difficult to detail due to the vast number of options available. From rainbow strategies to technical analysis, traders’ choices are endless. A winning strategy on eur/usd may not work for trading oil, and lessons learned from a 60 second strategy may not improve results for trading longer than 5 minutes.
However, a demo account is a great place to experiment and find your winning strategy. Every trader should find their own system, and IQ’s unlimited demo gives traders a better ‘sand fit’ compared to Plus500.
Binary vs Forex
The binary vs forex debate is another complex debate when looking at strategies. It will always come back to the trader, their risk appetite and preferred trading period. Just like our forums, our strategy section may contain useful ideas. Our blog entries often contain trading tips, but how they implement or act is up to the trader.
Strategic elements such as money management are a real problem for each trader as they can tell their risk trading appetite.
A final point of strategy is that there is no such thing as a ‘lossless’ system. Some trades will win and some will win. However, winning strategies are beneficial in the long run. Anyone offering 100% accuracy (or close to it) is likely dishonest. Discussions on Reddit or Youtube are very unlikely to make you a legit trader, free system for free!
Signals and automated trades
Currently, IQ does not pass signals to traders. There are sentiment indicators that give you a feel for market sentiment, but no automated signals.
Expert advisors are often a feature promoted by other brands, but a broker’s staff acting on behalf of traders would not be fair. IQ does not offer expert advisory services on standard accounts.
Companies prefer to educate and enable traders to make their own trading decisions.
Frequently Asked Questions
What is the minimum deposit to open a trading account?
IQ Option has a minimum deposit of $10, €10 or £10.
Is the IQOption platform reliable?
yes. Our website, desktop downloads and mobile apps all boast reliability. However, IQ recommends the desktop software for the fastest run times.
Which trading platform does IQOption use?
IQOption uses a proprietary trading platform. The platform is continuously developed and improved to add new features as well as new markets. The charting features of the platform are very advanced.
Do IQ options offer leverage?
yes. The maximum leverage offered by IQ Option is 1:500.
IQ Option also offers ‘revenges’ on certain assets (mainly cryptocurrencies). Multiplying the movement of the base price by x50 works much like additional leverage. For more information, please visit the IQ Option website.
How quickly are withdrawal requests processed?
Withdrawal requests from IQ usually take 1 business day. Depending on the withdrawal method requested, it may take 2-3 business days for the funds to reach your account.
Is IQ Option safe?
yes. They are legit and brokers.
Does IQ Option accept paypal?
no. The best e-wallet options right now are Skrill and Neteller. Perfect Money is also a recent addition, as is China Union Pay for traders in Hong Kong or Macau.
Review Conclusions
agree
• High yield of up to 91% payout in case of successful trades
• Minimum minimum deposit requirement – an account of $10
opened
• State-of-the-art trading platform
• Direct access to crypto markets such as Bitcoin
• Secure account verification
• Fast withdrawals
disadvantage
• Smaller market coverage than some competitors in forex and cfd
• Self-build robot/automatic trading feature has been removed.
• No MT4 integration required
Complaints
Some critical users on IQ point to the site not loading, not working or offline. These issues are usually on the user’s end, not the platform’s. The website boasts impressive uptime stats and is a strong motivator for the platform to be open to businesses! Sites are rarely unavailable or inactive, and we haven’t experienced any of these issues when connected via a reliable connection.
Registration
The IQ Option registration process only requires an email and takes only a few minutes. Once verified, you will have access to a demo account and real money market. A deposit is required to trade on a live account. The deposit process is very similar to the registration process. The minimum is currently $10 and the smallest trade is $1 per option.
Contact Us
IQ Option offers a variety of contact methods.
- Email – [email protected]
- IQOPTION LLC with company number 905 LLC 2021 and having its registered address at Hinds Building, Kingstown, St. Vincent and Grenadines
You can access customer support via, email or live chat. Customers are supported in over 20 languages.
