IQ option Review

Company Details

Broker Name Iqoption ltd.
Website Link https://iqoption.com/
Telephone Number 44 20 3318 7173
Email Address [email protected]
Fax Address Not Available
Physical Address Global Gateway 8, Rue de la Perle, Providence, Mahe, Seychelles
Regulated by CySEC

Customer Service

Customer service hours: 24/7
Livechat Available
Support Team Available

Assets

Currency Available
Indices Available
Stocks Available
Commodities Available

Bonuses

Deposit Bonus NO
First Deposit Bonus NO
Special Event Bonus NO
Birthday Bonus NO

Special Features

Mobile Application Android, iOS
Social Trading Not Available
Competitions Available
Social Media    

Trading Platform

Platform OS Compatibility web-browser, standalone app
Languages available English, Russian, Turkish, German, Spanish, Portuguese, Chinese, Swedish, Korean, French, Italian, Arabic, Indonesian
Streaming news Not Available
Platform Provider Own

Trading Tools

Classic Available
Speed Not Available
ProFollow Not Available
Long Range Not Available
Turbo Available




Risk Warning: Please Note That Binary Option Trading Entails Substantial Risk Of Loss, And May Not Be Suitable To Everyone.Trading Could Lead To Loss Of Your Invested Capital

Owned by IQ Option Europe Ltd, IQ Option is one of the most used binary options trading platform in the industry and was launched in 2013.

This broker accepts traders in mostly all countries except USA, Canada, Australia, Japan, Russia, Turkey, Israel, Syria, Sudan and Iran. Malta can not trade from iOS mobile application whereas Malta, Myanmar, Liechtenstein, Cuba cannot trade from the Android application.

On a second point IQ Option became a CySec regulated broker in 2014. Regulation is one important aspect which we will develop further in the coming sections. So, if you want to know how this might be useful, hold on we are coming to it.

What makes IQ Option, the iconic orange broker, so special in the industry and what should you know about them before even starting to trade? Here is what we have to say about them.

IQ Option trading Platform

IQ Option is known for not following the norms of the industry. We particularly found their trading platform completely different from those used by other brokers. The user-experience we received is definitely different, but we like different.

So, who are the guys behind this amazing trading platform? IQ Option developed its own trading platform with all the existing trading tools required to trade on the assets.

Among our plus point that we gave to IQ Option trading platform is the consideration they took while designing the platform. In fact, it is among the few trading platform which is responsive. That’s great, but how could this be useful anyway? Mobile trading is becoming well famous for traders nowadays and in an attempt to target this audience, IQ Option made sure that its platform is responsive. This mean that you could be seated on your couch and trading on your mobile. - By the way, at BinaryRanking we have super-comfy couches for the team - but that’s another fact on which we can write a whole review.

Okay, let’s not get distracted for a while. Coming back to the trading platform, let’s do a quick round-up of the different features available on the trading platform.

At first look, the platform gives an indication of IQ Option’s willingness to put everything a trader needs in one unique trading platform. So, no need to run around searching for market news or other video tutorials, everything is readily available on the platform itself. What else do you need to open an account with them.

We were able to place several trades on different assets at a time. Quite good considering that assets’ prices fluctuate very quickly. But this is not all, following its upgrade in 2014, IQ Option made several tools available to traders at the same time made the trades fluctuations more visually appealing.For instance, we used a linear graph and candlesticks graphs to view our trades on USD/CHF and BMW.

However, though the trading platform has all the features and add-ons, we also found some loopholes.

In fact, IQ Option is quite limited to the trading tools it offers to traders. In fact, there are only two which are available namely Turbo and Binary. Each of these tools has their own set of expiry time. However, even if there are only two tools available, these tools represents what best is done in the industry.

IQ Option built a real community around their trading platform and allows other traders to view the top performing traders through their own leaderboard. The guys leading it made huge amount of money but unfortunately traders cannot copy these trades positions nor copy their strategies. This is disadvantageous for traders looking for a quick way to make money.

We also noted that IQ Option’s trading platform doesn’t allow traders to make use of auto traders.

Hence all the trades decisions and investments should be done and approved by the trader himself.

The merit to this restriction goes to this broker. In fact they managed to create a community of genuine traders who are well versed in binary options and who don’t make use of trading robots.

IQ Option also differentiates itself in the binary options industry by allowing traders to trade even during weekends, how cool is that? How is this possible when other traders do not allow their traders to do the same?

This is possible through Over the Counter (OTC) approach whereby the trades are made directly from your trading account to the broker without any intermediates.

This guarantees that the trade won’t go public. Trading over OTC instruments usually happens when companies are too small to meet the listing requirements established by stock exchanges.

Besides its unique trading platform, IQ Option also has its mobile application compatible with both IOs and Android.

IQ-Option-Mobile

Remember our comfy couch we were talking above? So, we asked one of our team mates, for the purpose of this review we will call him John, to test the mobile application on it. John installed the application and we could see that it offers the same trading experience similar to the web version.

However, we recommend brokers to have a good internet connection while using this mobile app as there can be delays in the graphs. These delays can hinder the final trade outcome. Traders can also use their mobile app to juggle between the demo account and their real account. This means that whenever you open an account with them, you’ll be able to shift to the demo account and practice your different strategies.

IQ Option Accounts Types

Moving to IQ Option account types. Even though they are veteran in the industry, they only offer three account types, namely the Demo, Real and VIP accounts. The main reason was to keep the platform as simple and direct as possible while providing a first-hand environment where traders can experience a lucrative trading journey.

So let’s get started with the Demo account. These became one of the most sought features for traders. They give an apercu of options trading without the risks associated with it and without committing traders’ funds to a specific broker. For this, IQ Option deserves a plus point.

In addition, traders get up to $ 1000 as virtual money in their demo account. However, we noted that the number of assets available to trade is limited to only 100 and more. This demo account helps traders to try different strategies and hence become more at ease with the platform. Once these 1000$ are over, brokers can eventually recharge with a similar additional amount.

The platform is definitely good looking but what about the usability? We noted that there are several features such as the market news and video tutorials, live feed from known sources which allow the traders to know how their chosen assets evolve according to market news. On the other hand, graphs are expandable and traders can zoom in to find the different trends of an asset.

Once you are familiar to IQ Option’s trading environment, you can proceed to open a Real account. To get a Real account you will need to effectuate a minimum investment of $10, which is considered as one of the lowest in the industry, if not the lowest.

Traders opting for this account type have access to over 70 assets and return on investment which can go up to 45% in case of wrong predictions. We believe this is a good incentive from the IQ Option’s guys towards new traders.

Traders can also participate in different trading tournaments. But, these tournaments are only accessible provided your trading account meets the entry fee.

If you are opting for the VIP account, you should consider depositing a minimum of $ 3000 while the maximum you can depend on payment method. This is quite low as compared to the other brokers in the industry. But, the good thing is that VIP accounts are more accessible to traders.

VIP account holders are liable to a personal account manager and training designed by IQ Option experts. Moreover, if you prefer one to one attention, IQ Option also gives the opportunity to have monthly meetings with an analyst to discuss and define trading strategies. So, if you are a VIP account holder, get ready for your date with IQ Option.

With our basic IQ Option account, we were able to access all assets available on the trading platform as well as to the trading competitions which are on-going.

It took some minutes for our account registration to be processed and we received a confirmation email with the following information.

  • Facts about IQ Options
  • Steps to be followed by us in order to trade
  • Links to IQ Option different channels which

On proceeding to the trading platform, we were able to change our personal details and this without these affecting our actual trades.

IQ Option Assets

Like other traders, IQ Option allows traders to trade on several assets such as commodities, Forex, Indices and Equities. These amount to slightly more than 70 different assets on which traders can trade. Among the famous ones are Facebook, Amazon and Twitter to name only a few.

IQ-Option-Assets

As such, to keep the pace with the other brokers, IQ Option offers relatively high payouts which can range up to 91% on specific assets.

IQ Option allows traders to perfectly identify which asset they want to trade by classifying these per expiration time and assets types - An improvement in its user-friendliness. For instance, the choice was easy for us, as we could see how much payout we would be getting according to our assets choice.

However, we were a little bit confused by the trading interface as for a novice it might be difficult to locate where exactly to make the first step, hence the importance for a trader to go through the educational hub of IQ Option.

Security

Like most traders, we also wanted to know whether our funds were safe and what were the functionalities of IQ Option which allows a safe trading experience. How far can we really trust this broker?

The very first thing we looked for is whether this broker was regulated or not. Regulated brokers offer much safety to traders as they are international financial organization. In the case of IQ Option, we noticed that this broker is regulated by 7 regulation entities such as CySec and FCA among others.

Now that you are aware of the regulations status of IQ Option, what other safety measures did they implement to protect the traders? One crucial information most traders want to know is whether the information given over the internet is kept securely by the broker.

IQ Option uses SSL certifications to protect the communication over the web. This is technology is widely used by organizations which have a large transfer of information which happen over the internet.

Regarding the monetary transfer, IQ Option, being a regulated broker requires compliance documents to check the reliability of the requests made.

IQ Option Customer Support

IQ-Option-Support-team

While trading, mistakes and bugs are bound to happen so what should you do in these situation. Customer support is one important feature which most of the time helps traders solve their different issues and challenges.

IQ Option main channels of support are through:

  • Live chat Support Tickets
  • Phone Calls
  • Emails

As such, we decided to test their Live Chat by opening support tickets and requesting information about their trading platform.

It took us an average of 30 minutes for our support ticket to be processed. This is quite long for a trader of the caliber of IQ Option. But, we didn’t miss the opportunity to make our opinion known to the guys of IQ Option through their rating interface. The response was done in a proper and professional way.

Following our conversation with the support agent, we were also notified by email about our conversation with a link to the response. The good thing from IQ Option is that they have a notification method quite similar to Facebook which makes sure that the trader is aware .

Is IQ Option a scam

IQ Option is not a scam. The main reason is because they are regulated. In 2014, IQ Option became regulated by CySEC. As such, we highly recommend IQ Option for a unique trading experience which will definitely suit your needs. Most importantly, you will enjoy a secure trading environment.

IQ-Option-Scam

Our final opinion

As of now, IQ Option is considered as a pioneer in the binary options trading industry, offering low investment amount and high payouts. These have opened the door to a large audience of traders willing to start their trade journey. On a last note, IQ Option trading platform is user-friendly and provides all the best pre-requisites such as live feed of the market fluctuations to traders. These are the basic requirements for a trader who is about to start his or her trading journey. For experienced traders, don’t worry, IQ Option has several features for you in stock. But, these are restricted to actual traders having an account with them. Hence, it is green light if you want to go for an IQ Option trading account.

Read IQ Option traders' reviews



Risk Warning: Please Note That Binary Option Trading Entails Substantial Risk Of Loss, And May Not Be Suitable To Everyone.Trading Could Lead To Loss Of Your Invested Capital

Besides its demo account which allows traders to have the first feel of trading binary options, IQ Option also has a resourceful repository of educational materials. For instance, its video tutorials are further split into short videos such as how to get started with the platform and various strategies traders can use while trading binary options.

IQ-Option-education

However, there is a limited amount of basic knowledge for beginners while IQ Option lays much emphasis on explaining advanced strategies. IQ Option compensates by providing a well detailed FAQ with the basic terms which beginners might be looking for.

This broker also has its Youtube channel dedicated to providing useful information about binary options and also different strategies. These short videos are available in different languages which include mandarin and Spanish.

IQ Option is quite restrictive in its sharing of knowledge materials. In fact, learning materials such as webinars, which is one of the preferred learning ways of traders, are restricted to IQ Option traders only. It is the same for ebooks and other learning materials excluding short strategy videos.

As you probably noticed, IQ Option has a large variety of learning resources which are destined to entice the novice traders as well as the experienced one. We believe in this approach whereby traders makes the efforts to learn and have the opportunity to apply their knowledge in their day-to-day trading.

Read IQ Option traders' reviews



Risk Warning: Please Note That Binary Option Trading Entails Substantial Risk Of Loss, And May Not Be Suitable To Everyone.Trading Could Lead To Loss Of Your Invested Capital

To begin our trade, we deposited $100 and we were also given the option to deposit as a VIP trader which is liable to expert assistance among other privileges. But we decided to remain on the initial $100.

We then proceeded to the Order payment where we were asked to submit the details according to our mode of deposit.

After several trades, we tried to withdraw our money from IQ Option platform. We were given the choice to withdraw our money in 6 main ways which include Credit Card, Wire Transfer, Skrill, Qiwi, WebMoney, CashU, iDeal, Fasapay, Neteller and Boleto

At first glance, the withdrawal interface looks quite direct and the minimum amount of money which can be withdrawn is $10.

We couldn’t expect more from a broker of this caliber who wants to target traders from different knowledge level and investment plans. For our withdrawal, we opted for the credit card transfer methods.

Knowing that IQ Option is regulated by several financial bodies, we were asked to provide the supportive compliance documents for our withdrawal. Once submitted, it took us 3 days to have our money back on our credit card.

On the other side, being regulated and according to the laws, IQ Option does not restrict traders from withdrawing their funds prior to achieving the trading requirements.

Transfer methods are essential to traders. IQ option is among the best in ensuring that you are getting a timely and reliable service. You can see the difference while opening your account.



Read IQ Option traders' reviews



Risk Warning: Please Note That Binary Option Trading Entails Substantial Risk Of Loss, And May Not Be Suitable To Everyone.Trading Could Lead To Loss Of Your Invested Capital

IQ Option does not offer bonuses following CySec's Circular C168. You may still open an account.

Risk Warning: Please Note That Binary Option Trading Entails Substantial Risk Of Loss, And May Not Be Suitable To Everyone.Trading Could Lead To Loss Of Your Invested Capital