IQ Option review – Should you sign up? – Pros and cons

Rating:Assets:Minimum deposit:Return:
5 out of 5 stars (5 / 5)Crypto, forex, digital options, CFDs$ 10Up to 94%+

The best trading experience comes with the best broker. With the industry picking up pace, many binary options platforms are emerging. One such online trading platform is IQ Option. But is this broker worth your money? Is it reliable and offers top-class trading services?

There is only one way to find this: by looking at the IQ Option review. We will tell you our top findings of the broker. But first, let us acquaint you with the broker. 

IQ Option official website

(Risk warning: your capital can be at risk)

ParticularsAvailability
Minimum deposit amount:$10
Minimum withdrawal amount:$2
Minimum trade:$1
Deposit methods:Bank transfers, debit card, credit card, electronic wallet
Assets:Forex, stocks, cryptocurrency, commodities, ETFs, Binary Options
Mobile app:Yes

About IQ Option – What is this broker?

IQ Option Europe Ltd owns and operates IQ Option in Europe. For all other traders, IQ Option provides the services via the IQ Option LLC. The owners have been in the business of offering financial services for a long time now. 

The broker offers a range of financial instruments to the clients.

Do you know?
It is always best to join only a regulated online trading platform. The regulated platforms are accountable for operations to the regulatory body. The overseeing authority keeps a check on all their activities. Thus, it offers more protection and convenience to the traders. 

Some other facts about IQ Option are as follows.

  • IQ Option has been serving its valuable clients since the start of 2013. The broker has won several awards for the intuitive online trading platform it offers. 
  • Its feature-rich online trading platform allows users to trade seamlessly. 

Since you have an idea about this online trading platform, let us discuss more. 

(Risk warning: your capital can be at risk)

Trading platform features:

IQ Option trading platform

As a trader, you might want an online trading platform with unmatched features. We found out that IQ Option might be what you need. 

Its top features include:

  • User-friendly interface
  • Multiple trading tools
  • Economic calendars
  • Educational resources 
  • Numerous trading assets
Good to know!
The broker allows you to use several trading charts and technical indicators. These are crucial for every investor who wishes to know the direction of price changes. These are ideal for conducting technical analysis and placing your best bet. 

The feature-rich platform has all the trading charts and indicators you commonly use. The top indicators include:

  • Bollinger bands
  • Moving averages
  • Relative strength index
  • Alligator

Some famous charts like candlestick charts are also available on the trading platform. 

(Risk warning: your capital can be at risk)

Mobile applications (app) review

IQ Option mobile app download

For trading ease, we often look for an online trading platform that offers a mobile application. It allows one to trade on the go and avoid missing out on profitable trades. 

Thankfully, IQ Option has both web and mobile versions. You can download the IQ Option application from the App Store or the Playstore.

The mobile application operates similarly to the web version. Thus, you will not have much trouble switching between your mobile and the laptop. 

One does not need to compromise with functions while trading on the application. IQ Option mobile application has an interface very similar to the web version. 

Available assets on IQ Option to trade

IQ Option tradinga ssets and markets

Most traders check the number of assets a broker offers. After all, they want access to as many assets as possible to diversify their trades. The good news is that you will find more than 300 different assets with the broker. 

These include:

  • Forex
  • Stocks 
  • Crypto
  • Commodities 
  • ETF
  • Binary options

Let us throw more light on these IQ Option assets.

(Risk warning: your capital can be at risk)

Forex

Many traders join the broker for the sole purpose of trading forex. IQ Option offers you a competitive number of forex currency pairs like other brokers. You can access 50 or more currency pairs. 

Stocks

You will find the stocks of all the leading companies on IQ Option. Signing up with IQ Option gives you access to CFS on 184 stocks.

Cryptocurrency

These days cryptocurrency has become the lifeline of the financial markets. All online trading platforms offer it, including IQ Option. 

A trader can find 12 different cryptocurrencies on IQ Option. Some of the leading ones are:

  • Bitcoin
  • Ripple
  • Ethereum
  • Dash
  • Litecoin
  • Bitcoin cash, etc. 

Commodities

Gold, silver, platinum, crude oil brent, etc., are some commodities you can commonly find on IQ Option. 

ETFs

You also get an opportunity to trade the digital assets called exchange-traded funds or ETFs on IQ Option. It provides 24 ETFs, such as semiconductors, energy, metals, utilities, etc. 

Binary Options (only available for non EEA traders)

Trading Binary Options with IQ Option

These are the leading choice of investors today as they offer a source of quick income. IQ Option offers you a choice in more than 49 binary options.

(Risk warning: your capital can be at risk)

Trading account types of IQ Option

The many assets available on IQ Option can make any user want to sign up for a trading account. There are three types of accounts that the broker usually offers its clients. 

This IQ option review will tell you about these account types in detail. 

IQ Option trading accounts

Demo account

Like all brokers, IQ Option offers the facility of a demo account to its user. The registration process is simple; you must follow only a few steps. 

Quick tip!
If you are a beginner, we recommend you use this demo account to learn how to trade. It will enhance your confidence and prepare you to trade through the live account.

Some features of the IQ Option demo account include:

  • Virtual currency to help you practice trading
  • The ability to refill your demo account balance if it runs out of money
  • Allowing you to test your trading strategies and risk management abilities
  • All features as available on a live trading account
Good to know!
You can simultaneously use your IQ Option demo account with your IQ Option live trading account. It will enable you to cross-check whether the trade you are planning is viable.

(Risk warning: your capital can be at risk)

Standard account

It is the most basic account that beginners and inexperienced traders can choose. Signing up for this account will allow you to use all the features essential for effective trading. 

VIP account

The VIP account is for traders who are experienced. This account usually has a higher minimum deposit amount than the standard account. 

The mention of the minimum deposit amount brings us to our next topic of discussion in the IQ Option review. 

Minimum deposit and withdrawals of IQ Option:

IQ Option has different deposit and withdrawal limits. 

Minimum deposit

A minimum deposit amount is that a trader should deposit into his IQ Option account to begin trading. Here, this amount is $10. A trader should fund his IQ Option live trading account with this amount to begin trading. 

This amount is lower than all the other brokers. It enables beginners to trade without worrying about losing much of their savings. 

The deposits are instant. You don’t have to fear losing investment because of insufficient funds. 

(Risk warning: your capital can be at risk)

Minimum withdrawal

The minimum withdrawal amount is a kind of stipulation to withdraw your money. IQ Option has a minimum withdrawal amount of $2. 

Good to know!
Withdrawing less than the minimum withdrawal amount might involve some fees.

Once you request a withdrawal from your IQ Option account, it will take up to 3 business days for processing. The withdrawal time might vary across different payment methods. 

Available payment methods:

IQ Option payment methods

Having a variety of deposit methods is a must for brokers. Nowadays, all the brokers offer convenient payment methods in online payments. For instance, IQ Option allows you to use:

  • Bank transfers/ wire transfers
  • Credit cards
  • Debit cards
  • Electronic wallets

(The payment method is depending on your country of residence)

Good to know!
A trader should use the same payment method he used to deposit funds. If you choose a different withdrawal method, withdrawing your funds might be impossible. There can, however, be exceptions if you select bank transfers. 

(Risk warning: your capital can be at risk)

Payout – Return on investment:

The broker offers a payout percentage of up to 95%. It is higher than its market competitors. 

Trading costs and fees:

The broker does not follow unhealthy operating practices. It is transparent with all the fees and commissions it charges from the traders. 

Fortunately, the trading costs and fees are among the lowest in the market. It makes it a good trading platform for many traders, including beginners. 

  • Spreads – IQ Option spreads usually vary based on the asset’s volatility and trading hours. 
  • Commissions – One does not have to pay anything for trading financial instruments other than cryptocurrency. There is a commission of 2.9% on cryptocurrency trading. 
  • Swap fees – It is also known as the overnight funding fees. These fees generally vary between 0.1 – 0.5%. If you leave a position open over the weekend, these fees might be three times higher than this percentage. 
  • Inactivity fee – Staying inactive for more than 90 consecutive days on the trading platform might cost you money. IQ Option charges an inactivity fee from its users amounting to 10 Euros. 
  • Withdrawal fees – No, you don’t have to pay any withdrawal fees to the broker for taking out your funds. However, submitting a withdrawal request for an amount less than the minimum amount might involve fees. 

Banned and accepted countries:

IQ Option, being one of the leading brokers, has its presence in many countries. It offers its services in multiple languages across the globe. 

However, there are a few nations where you will not find it working. These include:

  • USA 
  • Canada
  • Australia
  • Indonesia

IQ Option can’t operate in these countries because of their legal regulations and laws. Besides, IQ Option refrains from accepting users from

  • Belgium
  • Iran
  • Israel
  • Japan
  • Latvia
  • North Korea
  • Palestine
  • Russia
  • Pakistan
  • Sudan
  • Turkey
  • Syria

The online trading platform has a wide operational base in other countries.

(Risk warning: your capital can be at risk)

Tournaments:

IQ Option tournaments

The broker sets up various trading tournaments for its users. You can participate and win in these trading tournaments. 

IQ Option conducts these tournaments to incentivize and motivate the traders to trade more. You can enroll for both short-term and long-term tournaments. There are different assets involved in these competitions. Usually, these include leading stocks and forex. 

The broker rewards the winners with various prizes and incentives. It also includes cash awards. You can win these tournaments to win more over and above your regular profits. 

Customer support:

IQ Option chat support

You can contact their customer support if you face any trouble while trading on the platform. Emailing your concern to customer support will ensure a quick resolution. 

(Risk warning: your capital can be at risk)

IQ Option benefits and drawbacks

We noticed several benefits and drawbacks of trading with IQ Option. 

Benefits (pros):

  • This online trading platform is perfect for brokers who wish to trade binary options. 
  • It is the best platform to start with if you are a beginner. The broker offers some of the best user-friendly features. 
  • The minimum trade value amounts to only $1. 
  • The deposits and withdrawal limits are lower than other brokers in the market.

Drawbacks (cons):

  • The trading platform is heavy. So, it might affect your computer’s RAM. 
  • Delay in the withdrawal processing is inevitable.
  • Adding additional indicators might be troublesome. 

Can you make a profit with IQ Option?

In our experience, yes, you can! 

Research and expert technical analysis will be your escape here. If you wish to load your pockets with profit, use all the trading tools and indicators. Technical analysis is the key to earning profits on IQ Option. 

Good to know!
The profit you earn when trading with IQ Option depends on your trading expertise and knowledge. Thus, you must use the demo account if you are a beginner. It will help you greatly in formulating risk and fund management strategies. You will witness a growth in your profits and a fall in the number of losses.

(Risk warning: your capital can be at risk)

Is IQ Option legitimate?

Since the broker is accountable for its operations, it is legitimate. CySec oversees the functioning of this broker. Thus, it is safe and won’t run away with your money!

IQ Option allows users to make money and withdraw their funds as and when needed. Hence, we would not say that the broker is a scam.  

Conclusion of the review: One of the best brokers!

Since it is one of the leading brokers, it is safe and secure to trade with IQ Option. Traders can get a lifetime’s experience by trading with this platform.

Thousands of traders join this online trading profit every day to earn money. Our IQ Option review says you can join this broker for the best trading experience. 

(Risk warning: your capital can be at risk)

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