IQ Option Review – Online Platforms, Commission, Leverage, Account Types, Features & moreLast Updated Date: May 11, 2022
One of the leading online trading platforms is the IQ option.
As per the IQ Option Review, the platform gives an opportunity for traders to trade a plethora of popular financial instruments, including binary options, stocks, Forex, ETFs, commodities, and cryptocurrency.
IQ options Ltd. Operated the company and was incorporated back in 2013. Additionally, it is also one of the youngest trading platforms.
Besides all of these, the company claims to be one of the fastest-growing trading platforms. It also boasts of serving 48 million users and also has one million transactions daily.
Even though they are pretty new in the market, it’s obvious to see they are ruling the game already.
About IQ Option and Accepted Countries
IQ Option is one of the most trusted and reliable binary brokers in the industry. The various awards bagged by them have enhanced their reputation in the market.
For years now, the customer satisfaction for IQ has been optimistic. The firm chooses to operate transparently to maintain its market position.
IQ offers trading in an array of nations across the globe and also provides support across various languages. Back in 2014, the firm served in 18 countries, and in 2016, it was up to 178 countries.
Due to regulations or local news, the country didn’t trade in some countries. At present, traders from Canada, the USA, and Australia are not allowed to open accounts.
But no doubt the firm is growing quickly in Asia as binary is becoming legal in India also. Some of the countries they serve in:
In this region, traders can register with the IQ option, and also the login process is both quick and straightforward.
All you need is an email address to sign up for the demo account. Then to begin trading, traders need to invest real money.
|Founder / CEO||Brittany Adrian|
The minimum deposit is just $10, which stands to be the lowest in the industry.
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IQ Option Trading Platforms
IQ features a proprietary custom-built platform to cater to the needs of its users, unlike other brokers who choose to use a standard trading platform only.
The platform is not only well designed but also relatively easy to use.
Some of the useful features of the platform include multi-chart layouts, technical analysis, historical quotes, volatility alerts, market updates, stock screeners, economic calendars, and much more.
Additionally, the platform is available in 13 languages.
Amid the IQ trading option, a trader can trade in different assets and financial instruments like stocks, digital options, binary options, Forex, cryptocurrencies, ETFs, and commodities.
But you need to note that in the EEA, binary options are prohibited.
|Trading Platform||IQ Option|
|Desktop Platform – Windows||Yes|
|Desktop Platform – Mac||Yes|
|Desktop Browser Platform||Yes|
|Mobile Site Platform||Yes|
|Android App Platform||Yes|
|iOS App Platform||Yes|
|Windows App Platform||No|
|Other Mobile OS Platform||No|
|Trading Platform Supported Languages||Chinese, English, French, German, Indonesian, Italian, Korean, Portuguese, Russian, Spanish, Swedish, Thai, Turkish, Vietnamese|
IQ Option Mobile App
Following the development of the bespoke trading platform, the IQ option mobile trading platform aims to deliver a seamless mobile user experience.
Besides the trading area, the screen buttons and look feel more like that of a full website or desktop download.
For each operating system, the mobile application has been delivered as a custom-made product. For example, the IQ option android app is specially designed for android devices.
In contrast, the iOS app has been specifically designed, keeping in mind iPhone or iPad.
Check out Mobile Apps of more Forex Brokers
IQ Option Exposure or Leverage
When it comes to returning on investment, the standard leverages offer exceptionally competitive rates.
If the circumstances are perfect, the traders are most likely to earn at least a 91% payout provided the case is successful.
Depending on the asset and expiry time, the payouts are most likely to vary. 91% of exposure is one of the best offered in the industry.
Furthermore, you need to know that term profit percentages don’t guarantee profits.
In simple terms, the gain is most likely to occur when the trade is booming—the minimum leverage given by the IQ option 1:500 for non-regulated members.
On certain assets, including cryptocurrencies, the IQ option offers multiples.
IQ Option Commission or Brokerage or Fees
IQ claims to be transparent when it comes to fees and costs. It would be best if you considered some options mentioned below to see what trading IQ looks like:
Spreads– The difference between buying and selling price is known as the spread. As it is variable, it mainly depends on liquidity, volatility, and time of the day.
Swap fees– The swap fees are ideally applicable for positions that are held overnight, and charges tend to vary between 0.1% to 0.5%. Charges tend to increase if positions are held over the weekend.
Dormant account fees– if the account is not active for more than 90 days, IQ will start charging €10 monthly, assuming the account balance is zero.
Withdrawal fees– As such, there are no fees on almost all trading service providers, but bank transfers are most likely to charge $31.
Commission– Commission of 2.9% is applicable on some cryptocurrency trades, but it is not relevant to any other asset.
|Commission on trades||Yes|
Payment Method provided by IQ Option
iForex supports payment via bank transfer, credit, or debit card. It also supports e-wallets like Moneybookers, Neteller, Skrill, or Webmoney for deposits.
|Deposit Options||Credit Card, Cryptocurrencies, Moneybookers, Neteller, PayPal, QIWI, Skrill, Webmoney, Wire Transfer|
|Withdrawal Options||Credit Card, Moneybookers, Neteller, QIWI, Skrill, Webmoney, Wire Transfer|
Find out Payment Methods provided by other Forex Brokers
Investment at IQ Option Asset Classes or Markets
As of now, the traders at IQ option can invest in at least 90 different types of asset classes. They comprise a selection of currency pairs, including market indices, stocks, and commodities.
Just now, the trading platform has also integrated 12 types of cryptocurrencies for its users to trade in.
Regularly, the market list for trade-in is growing. You can expect an expansion in almost all areas.
IQ has a spread market across all products, so items, including oil, gold, and silver, were added to the digital trading list.
Even for $1, binaries and digital options can be opened as minimum trade sizes tend to vary with each product.
|Total Tradable Assets||400|
|Number Of Currency Pairs||64|
|Number Of Cryptocurrencies||20|
|Number Of Stocks||200|
|Number Of Indices||0|
|Number Of Commodities||5|
|Number Of Futures||0|
|Number Of Options||45|
|Number Of Bonds||0|
|Number Of ETFs||25|
IQ Option Virtual Trading Account or Demo Account
IQ option also offers a demo account, just like its other competitors. But you need to know that the IQ option’s demo account tends to stand out.
It is mainly because there is no restriction as such on how long a trader can use the demo account. It allows you to get comfortable with the trading tools truly.
Additionally, you can also test some strategies in the future. The best part about the demo account is that it offers $10,000 in virtual funds.
You can quickly replenish your amount if you have all of these virtual funds.
It allows you to continue practicing your trading techniques. Another fantastic feature of the demo account is that it doesn’t ask for any of your personal information.
|Virtual Money||$ 10000|
IQ Option Regulation or Licensing
Over the past few years since its opening, IQ has received a plethora of awards for its reliability and quality services.
Currently, it has been recognized as one of the leading brokers in the industry.
To maintain its image as a reliable broker, traders at IQ should know that IQ Option is a regulated broker under the jurisdiction of the Cyprus Securities Exchange Commission.
Being a regulated broker, IQ is also a MiFID compliant broker. IQ option is also allowed to offer its services to clients within EEA.
Another benefit for users is that it is also a member of the Investors Compensation Scheme. Each other client’s funds are protected up to a maximum amount of 20,000 under this scheme.
Find out Regulations & Licensing of more Forex Brokers
|Easy Markets||Fusion Markets||Go Markets||IronFX|
|FP Markets||FXPro||IG Group||Libertex|
IQ Option Features
Mobile Integration – Besides specific mobile applications, IQ also offers a mobile web trading solution that gives users some flexibility regarding mobile trading options.
The app claims to be clean, graphical interface, intuitive, and it is easy to use.
App also offers push notifications, and users can set key trading levels that result in alerts anytime these levels are breached. The app works flawlessly on both Android and ios devices.
Trading Competitions – The customers are given a chance to test their skills through a binary options tournament.
The regular tournaments are put around 30 minutes in length and require a small entry fee. Users are given $10k in virtual funds after signing up and at the end of the competition.
The prize can be either fixed or be related to the number of users who have joined the tournament.
They can buy in again and continue to take part in further tournaments if users deplete their virtual funds.
Education and Training Resources – The IQ option also makes a wealth of data available for all the users. It includes some trading videos, tutorials, and webinars.
Users have access to a plethora of e-books and a FAQ section that offers some of the common questions.
These training materials provide valuable information for traders of various experiences and abilities.
|Social Trading / Copy Trading||No|
|Guaranteed Stop Loss||Yes|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||Yes|
|Interest On Margin||No|
|Other Trading Features||No|
IQ Option Account Types
IQ option needs a low minimum deposit, and new traders can start trading at $10 to gain access to a live account.
Two trading account options are:
Real Trading Account– The best part about this account is that you can start trading here with a $10 minimum, and there are no restrictions on trading.
The account offers access to over 70 assets, and users need to request withdrawals that are accessed within 24 hours.
Additionally, real account holders can also take part in different trading competitors held on the platform.
VIP Account– This account is available to traders who choose to make a deposit of at least $1900 or something equal.
Additionally, as per the features found on the real account, the VIP account features a personal manager who is always ready to help assist traders with any problems.
The VIP account also features a monthly report on trading reports to users that is performed by the analysts of the platform, and it also gives feedback on their performance.
|Account Type||Trading Account||Real Account||VIP Account|
|Spread||5 pips||5 pips||0|
|Commission||No commission||No commission||0|
IQ Option Trading Account Features
Check below all the trading account features under various account types:
|Trading Desk Type||Dealing Desk, Market Maker|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||No|
|Suitable for daily trading||Yes|
|Suitable for Weekly trading||Yes|
|Suitable for swing trading||Yes|
IQ Option – Research & Advisory
Find below all the different reports and support provided by its Research & Advisory team :
|Daily Market Commentary||Yes|
|News (Top-Tier Sources)||Yes|
|Company Stock Review||Yes|
|Free Stock Tips||Yes|
IQ Option Benefits
- You can avail of high returns of up to 91%
- It is a regulated broker with CySec.
- It is a cutting-edge trading platform.
- Secure account verification
- Easy and quick withdrawals
IQ Cons or Drawbacks
- It offers a narrow range of the market as compared to some rivals on Forex.
- It lacks the auto-trading feature.
- There is no MT4 integration.
IQ Option Customer Care or Contact Details
IQ option features an array of customer support like email, telephone, and online chat. Currently, there are at least 90 customer service support representatives available to help the users.
Customer service is known as one of the most significant plus points of the option IQ trading platform.
The broker has made its customer support services available 24/7 to ensure traders at IQ option can get assistance anytime they want.
IQ option has toll-free phone numbers for your convenience in some of the countries, including the United Kingdom, Brazil, South Africa, India, Singapore, Thailand, Colombia, Australia, Mexico, Portugal, Spain, Argentina, and Chile. The average time is 38 seconds for an online chat, while it is 14 minutes for email.
|Support During Weekends||Yes|
|Live Chat Support||Yes|
|Customer Support Languages||Arabic, Azerbaijani, Chinese, French, German, Hindi, Italian, Lithuanian, Portuguese, Russian, Spanish, Thai, Turkish, Ukrainian, Urdu|
IQ Option Safety and Security
When it comes to trading at the IQ option platform, you don’t need to stress as deposit errors are rare, and the support team is always ready to help if at all issues arise.
Using the same list of methods, withdrawals can be made before and withdrawal verification is also essential.
Additionally, the platform is licensed and regulated by the CySEC (Cyprus Securities and Exchange Commission) and the FSA (Seychelles Financial Services Authority).
IQ Option Account Opening Process
Trading on the IQ Option is not only relatively intuitive but also the trading platform itself is well designed.
You can quickly get started on this platform by signing up on Facebook, Google, or use email to create an account.
You can instantly use a practice account or top up the real account before you start trading. Also, you will get a notification once the accounts are opened.
Additionally, the platform is easy to locate various features and tools.
IQ Option Rating & Review
Based on the user experience, the following rating and reviews are provided.
|User Experience||7.0 / 10|
|Products & Services||7.6 / 10|
|Brokerage Charges & Fees||7.1 / 10|
|Research & Advisory||7.2 / 10|
|Trading Platforms||7.1 / 10|
|Overall Ratings||7.2/ 10|
|Total Client Reviews||70|
Conclusion or Verdict – IQ Option
IQ is an impressive platform that offers its users a significant amount of value.
The platform mixes an excellent level of transparency and functionality, so users can get comfortable using the latest financial regulations. You can get a smooth experience while trading on this site.
Additionally, the trading platform is functional enough for professional traders and simplistic enough to allow new traders to learn the trading process without any hassle.
Lastly, the IQ Option is a trading platform that is on the rise lately and has grown subsequently to manage at least 15 million accounts, and it also processes at least 3 million trades daily.
The platform serves stock, Forex, and cryptocurrency traders in 178 countries of the world.
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