IQ Option Review

IQ Option is one of the fastest growing online trading brands in the world and offers traders the ability to trade Forex, Stocks, ETFs, and Options.

IQ Option review
Overall

Introduction

IQ Option was first founded in 2013 as a binary options trading brokerage but has since rebranded in 2017 to provide the trading of Forex and CFDs on a wide range of asset classes. IQ Option now has 25,580,000 registered users and facilitates around 1,800,000 trades per month accounting for nearly $380 million worth of trading volume.

IQ Option is truly a global online trading brokerage by servicing traders from over 60 countries and offering their services in 13 different languages. The IQ Option brokerage is based offshore in the Seychelles with their headquarters located at Global Gateway 8, Rue de la Perle, Providence, Mahe, Seychelles.

Unfortunately, the IQ Option broker is not licensed or regulated by any reputable regulatory authorities. Therefore, how do you know if IQ Option can be trusted to provide fair and reliable online trading services and how are the services they provide. Find out in our in-depth IQ Option Broker review where we extensively analyze the IQ Option broker and services they provide.

Overall Rating

Products & Fees
4
Security
3.5
Tools
4
Desktop Experience
4
Mobile Experience
4
Banking
4.5
Customer Support
4
Education
3.5

Pros

  • Exclusive Trading Platform

    IQ Option features a unique trading platform designed from the ground up to better facilitate trading of the products and services they provide.

  • Wide Array of Tradeable Assets

    Traders can participate in the trading of many financial markets in a variety of ways.

  • Small Initial Deposit

    Nearly anyone can start trading with IQ Option as their minimum initial deposit is only $10.

Cons

  • Not regulated

    Regulation ensures the broker provides fair, transparent, and secure services at all times.

  • Located Offshore

    Offshore trading brokerages do not have the best reputation.

Not only do we provide our traders with excellent trading instruments, but we also support them with the best tools: volatility alerts, market updates, stock screeners, calendars and newsletters.

Commissions & Fees

IQ Option provides their traders with very reasonable commissions and fees that are competitive with the industry standards. All of the trading fees are incurred through the spread and the spreads are variable and may vary during certain market conditions and liquidity. The average spreads for each asset can be found on the IQ Option website and the spreads are expressed as a percentage.

Additional fees may include an account inactivity fee 50 EUR per month if the users account remains inactive for 90 consecutive days. To prevent this fee, traders must make at least 1 trade within 90 consecutive days. Another fee a trader may incur is a withdrawal fee of 25 EUR if they withdrawal funds via bank wire transfer, all other withdrawal methods are free of charge. One more additional fee a trader could incur is for the participation of trading contests and tournaments. When participating in these events a fee of 5 EUR – 10 EUR may apply.

Commissions & Fees
Stock
ETFs
Options
Forex Spreads
CFDs
Metals
Cryptocurrency
 
IQ Option
From 0.16%
From 0.018%
From 0.035%
From 0.03%
From 0.16%
From 0.093%
From 0.064%
XTB
From 0.3 pips
0.08% minimum $8.00 USD
N/A
From 0.1 pips
0.08% minimum $8.00 USD
From 0.3 pips
Spreads vary
AvaTrade
Average 0.13%
Average 0.13%
Spreads Vary
From 1.3 pips
From 0.13%
From 0.4pips
0.75% to 1.5% Over Market
EasyMarkets
N/A
N/A
From 0.001 pips
From 1.8 pips
From 5 pips
From 45 pips
Spreads from $45
Vantage FX
N/A
N/A
N/A
From 0.0 pips + $3 commission per 1 lot
N/A
From 0.23 pips
N/A

Platform & Tools

iq option platforms

IQ Option features their very own proprietary web-based trading platform that was designed from the ground up to provide an intuitive trading experience for the trading of forex, CFDs, and binary options. The platform operates very smoothly and features an innovative and superb interface. The platform presents all the data and charts a trader needs for analyzing the markets in a beautiful and easy to use way. Along with the superb interface, the platform offers sophisticated features such as the viewing of 9 charts displayed on one page and advanced analysis tools such as Parabolic Sar, MACD, Awesome Oscillator, and Stochastic Oscillator. All in all, traders of every experience level can benefit from this trading platform.

Platform & Tools
Desktop Platform (Windows)
Desktop Platform (MacOS)
Web Platform
MT4
MT5
Research & Analysis
Social trading
Education
Demo account
 
IQ Option

Mobile App

The same IQ Option trading platform is fully compatible and optimized for trading on mobile devices through a mobile trading application. The IQ Option mobile trading app can be downloaded for free from the Apple App Store and the Google Play Store for iOS and Android mobile devices. With the mobile trading app, traders can execute a variety of advanced order types, manage their portfolio, conduct basic technical analysis, create watch lists and set notifications, and view market moving news and price quotes in real-time. The IQ Option proprietary mobile trading app is highly sophisticated and very user friendly.

Account Types

IQ Option features only two types of trading accounts and a free live demo account. The demo account allows traders to see how the platform operates and practice trading using virtual money. As for the other two trading accounts, see them overviewed below.

Real Account

  • Minimum initial deposit of $10
  • Zero restrictions on trading functionality
  • Take part in various trading competitions

VIP Account

  • Minimum initial deposit of $3000
  • Zero restrictions on trading functionality
  • Take part in various trading competitions
  • Personal account manager
  • Monthly trading report
  • Additional customer support

Deposits & Withdrawals

IQ Option offers a very low initial deposit of only $10 to start trading and traders have a number of ways of making this deposit. For instance, traders can use Credit or Debit Cards (Visa, Mastercard, Maestro), various E-Wallets including Skrill, Neteller, Boleto, Qiwi, WebMoney, iDeal, Fasapay and Sofort, and users can even deposit funds with Bitcoin. All deposits are free of charge and are completed nearly instantly.

As for withdrawals, there aren’t quite as many, but the following options are available; Visa, MasterCard, Maestro, Bank-Wire Transfer, Skrill, and WebMoney. The withdrawal process is very secure, and withdrawals are processed quickly within 1 working day for Real Account members and within 24 hrs any day of the week for VIP Account members.

Deposits & Withdrawals
Minimum deposit
Withdrawal Time
Withdrawal Fee
 
IQ Option
$10
Within 1 business day
Free
XTB
$250
N/A
Free
AvaTrade
$100
1 - 2 business days
Free
EasyMarkets
€100
3 - 10 business days
Free
Vantage FX
$200
3 - 10 business days
Free

Customer Support

Customer service is yet another area where IQ Option excels in by providing exceptional support. They offer live chat, telephone support and email service with quick replies from highly qualified staff members. As well, the company offers this level of support through 13 different languages being; English, Russian, Turkish, German, Spanish, Portuguese, Chinese, Swedish, Korean, French, Italian, Arabic, and Hindi. Additionally, traders can receive support by viewing the extensive FAQ page and interacting with support reps via social media.

Security & Fairness

iq option trust

IQ Option is a very successful online trading brokerage with millions of satisfied users. The brokerage has developed a good reputation over the years and has proven to provide safe, fair, and reliable online trading services. However, IQ Option is not licensed or regulated by any reputable regulatory authorities and is located offshore. While this raises some concerns and is something to remain cautious about, IQ Option has done nothing but remain fair and transparent with the trading services they provide. As well, IQ Option implements the latest and greatest security measures to protect both the user’s funds and their personal data. IQ Option utilizes sophisticated firewalls to prevent hacking attempts and malware and they also utilize SSL encryption technology on all transmitted data. All in all, IQ Option is a very safe, fair, and secure online trading brokerage regardless of not being regulated.