Real IQ Option Review and user-rating

IQ Option user-ratings: $10
  • Asset varierity - 0/10
    0/10
  • Trading platform - 0/10
    0/10
  • Support - 0/10
    0/10
  • Fees - 0/10
    0/10
  • Deposit/Withdrawal - 0/10
    0/10

Facts about the company:

  • Type: Binary, Forex, and CFD Broker
  • Regulation: CySEC (Cyprus) 
  • Minimum deposit: $10 
  • Demo account: Free
  • Markets: 300+ Forex,  Options, CFDs, Cryptocurrencies, Commodities, ETFs, Indices
10/10
Comments Rating 10/10 (1 review)

Pros

  • Customizable Interface
  • 24/7 multilingual support
  • Convenient withdrawals
  • Award-winning platform 
  • Training and education material 

Cons

About IQ Option

IQ Option is a binary options provider that was founded in 2013. At the time of writing, the online broker has more than 7 million registered accounts, which execute an average of more than 21,000 transactions daily via the platform.

IQ Option cooperates with traders from 31 European countries and covers almost all of Europe. The Online Broker also advertises an advanced order system that executes trade orders within 0.6 seconds on average.

Screenshot of the IQ Option landing page

IQ Option is also characterized by the affiliate partner program, which will be discussed in more detail in the course of this article.

Regulation and deposit protection of IQ Option

Before presenting the individual offers and services of the Online Broker, we will first take a brief look at the important aspect of regulation. IQ Option is regulated by the Cypriot Financial Supervisory Authority CySEC and is therefore subject to the legal requirements of Cyprus and the European Union.

Apart from that, the Online Broker is also listed in the register of some other financial supervisory authorities. These include FCA (United Kingdom), Consob (Italy), CNMV (Spain), Regafi (France), AFM (Netherlands), ČNB (Czech Republic), and Finantsinspektsioon (Estonia).

IQ Option also provides sufficient security for customer deposits. As a member of the ICF (Investor Compensation Fonds), the money of customers of the online broker is currently secured up to a value of 20,000 dollars.

Previous awards and press reports of the Online Broker

When searching for a suitable online broker, it is usually advisable to keep an eye out for previous awards or press reports. On the IQ Option website, you will find a whole range of different awards that the provider has already won in recent years. For the sake of clarity, only the most recent awards will be briefly presented below.

  • IAIR Awards: “Best Broker for Binary Options and Best Broker/Trading App for Binary Options
  • Award of Excellence 2017 by the Academy of Interactive and Fine Arts
  • Mobile Star Awards 2016: “Intelligent trading app for binary options

And the online broker has also been mentioned in the press several times in the past. These include the Märkische Allgemeine, the Abendzeitung, or the British HuffPost.

Deposit

The minimum deposit amount for all offered payment methods is 10 Dollars each, no fees are charged.

MethodProcessing time
Visa / MastercardImmediately
Immediately / Klarna15 minutes
SkrillImmediately
Bank Transfer3 – 5 working days
Giropay5 – 15 minutes
PayPalImmediately
WebMoney WMEImmediately
WebMoney WMZImmediately
NetellerImmediately

Withdrawal

The minimum payout fee was set at 2 Dollars, there are no fees in principle (however, this does not apply to the payout by bank transfer: here, fees of 31 US dollars are incurred).

MethodProcessing time
Visa / MastercardImmediately
Skrill1 – 3 working days
Bank Transfer1 – 3 working days
PayPal1 – 3 working days
WebMoney WME1 – 3 working days
WebMoney WMZ1 – 3 working days
Neteller1 – 3 working days

Since 2016, IQ Option has also switched to instant payouts, allowing approximately 68% of incoming payout requests to be processed immediately. As a result, the average processing time for a withdrawal request is currently around 8.5 hours.

What assets does the Online Broker make available to its customers?

At this point we will discuss the different assets, which IQ Option offers its customers to choose from. Basically, investors can trade options, foreign exchange, shares, crypto-currencies, commodities and ETFs with this provider.

Options and additional assets


A total of 54 options can be traded in IQ Options at the current time. However, a distinction must be made between the account model for private clients and the account model for professional clients. While private customers can trade with a maximum leverage of 1:30, the maximum leverage for professional traders is capped at 1:500.

In the following, the different types of options that can be traded at IQ Options are briefly described.

FX Options

FX options are a proprietary instrument that can be used to trade currency pairs with a minimum expiration time of 1 hour. The concept is similar to the European options, but the transactions can be concluded before the actual maturity. While the possible profit is capped at the top for binary options, there is no limit for trading with FX options. The possible loss extends to the corresponding investment. The minimum trading volume is set at USD 30.

Digital Options

With the help of digital options, investors can speculate not only on a general price change but also on the extent of the change in a corresponding price. If a “strike price” previously set by the trader is reached, up to 900 percent can be achieved. However, if the price movement is predicted incorrectly, this leads to a complete loss of the investment. A special feature of digital options is the predetermined expiration time (5-minute intervals). The minimum investment here is only 1 US dollar.

Binary Options

Binary options are a tradable instrument that, if correctly predicted, promise a guaranteed return within a previously selected time frame. With binary in-the-money options, a profit of up to 95 percent is possible in this way, while an unsuccessful prediction leads to the loss of the capital invested. Binary options can be traded at IQ Option on the development of the prices of stocks, currency pairs, indices, and commodities.

Important: Binary and Digital Options are prohibited for EU traders at IQ Option and can only be traded by traders outside the European Union (for example in Switzerland) or EU clients with a professional trading account. Alternatively, the Online Broker offers EU clients FX Options for this reason.

Forex


In addition, IQ Option also offers a range of currencies that can be traded as Forex. Customers can also choose between 44 different currency pairs.

Shares


Recently, the online broker decided to expand its trading offer, which is why shares can now also be traded as CFDs. For this reason, a large area of the IQ Options offering now also includes stock CFDs. Private customers can trade 184 stock CFDs with a leverage of up to 1:5 with this provider.

Cryptocurrencies


Another asset that can be traded at IQ Option is the cryptocurrencies. The 26 digital currencies can be traded with a leverage of 1:2.

Commodities


IQ Option also offers the commodities gold, silver, and crude oil for trading. These can be traded by private customers with a leverage of up to 1:20.

ETFs


Last but not least there are 24 ETFs in the trading offer of the online broker, which can be traded with a leverage of up to 1:5.

The trading platform at IQ Option

After a sufficient overview of the tradable assets at IQ Options has been established, the next step is the trading platform, which clients can use at this online broker. IQ Option provides an in-house trading platform for this purpose, on which all trading instruments of the broker can be traded.

The trading platform offers its users more than 15 indicators (including RSI, Bollinger Bands and MACD also ATR, ADX, CCI), 5 chart types, graphical tools, historical data as well as an integrated newsfeed and automatic notifications of relevant price movements.

The software can be used either directly via the Internet browser or via the desktop or as a mobile version. The trading interface is also designed to be intuitive and allows even beginners to use the software easily.

As can be seen, several charts can be displayed and overviewed at the same time without problems.

Trading fees of the Online Broker

Now we come to an aspect which also plays a very important role in the evaluation of an online broker: The trading conditions.

As usual, there are no direct fees for trading binary options, which is also the difference to CFD trading. There are therefore no spread or similar fees. The “cost” is generated by the maximum return of 95 percent, while the maximum risk of loss is 100 percent.

For the other trading instruments, the spreads can be viewed at any time directly on the IQ Option website under Trading Specifications.

The Affiliate Partner Program at IQ Option

Also interesting is the affiliate partner program, which the online broker offers on his website. According to their own statements, the more than 150,000 affiliate partners now earn more than 2 million US dollars a month. Registration for this affiliate program is quick and easy directions on the IQ Option website. The online broker also provides its partners with appropriate landing pages and creative materials that they can use.

The demo account at IQ Option

IQ Option offers a demo account for all interested investors and traders who would like to test the online broker without financial risks. As a user of the demo version, the software can be tried out with all its functions and a virtual sum of 10,000 US dollars. In addition, it is possible to switch between a demo account and a live account at any time with a simple click.

Customer service of the Online Broker

One point that should also not be neglected concerns the customer service of an online broker. In recent years, IQ Option has increased the number of employees in its service team to 79. The support team is available 24/7 by telephone and can be contacted at any time should questions or problems arise.

The customer service employees at IQ Options are not only characterized by a generally competent appearance but are also available in 14 different languages. Furthermore, the online broker has recently started offering a live chat. Questions asked are answered quickly and competently here.

Support available:24/7
Telephone:+44 80 0069 8644 (UK)
Adress:support@iqoption.com
Languages:14

Furthermore, IQ Option is also represented on various social media platforms. These include the platforms Facebook, telegram, twitter, Instagram and YouTube.

Opportunities for training and further education at IQ Option

Not to be overlooked is also the area for training or further education on the IQ Option website.

In this context, the online broker initially provides a clear FAQ register with the most frequently asked questions. Furthermore, the training area of IQ Option offers a variety of video tutorials on various topics. The different categories can be seen in the figure below. These are short videos with a length of 1-2 minutes, in which the most important information should be conveyed with clear animations.

In addition to the video tutorials, the online broker also provides its customers with a calendar, which is intended to make it easier for investors to keep track of upcoming economic events and earnings forecasts on the financial markets at all times.

Conclusion

At this point, let’s take a look at the previous experiences with IQ Option on the Internet. The low minimum deposit of only 10 Dollars and the low trading amount were positively evaluated in many places. And the customer service, which is offered in many different languages, is also convincing in many places.

However, there are also many negative voices on the Internet, which were not particularly satisfied with the services of the provider in the recent past. In order to get a more precise picture, it may be advisable to use the free demo account of IQ Options and test the services of the online broker in this way.


Most asked questions:

In what industries can be traded?

Options and assets can be traded within a total of 11 industries which are named in the following: Energy, Health Care, Real Estate, Communication service, Utilities, Information technology, Consumer discretionary, Financials, Materials, Industrials, and Consumer Staples.

Is instant withdrawal of money possible?

Yes, traders can withdraw money instantly via VISA and MasterCard. For every other Withdrawal option, there is a processing time between 1-3 days.

What features are available?

IQ Options offers traders various features for trading such as a Newsfeed to stay up-to-date, social trading possibilities by connecting with other traders, or by helping to analyze trades with the help of indicators.

Is IQ Option trustworthy?

IQ Option is indeed a trustworthy trader. Not only the customer service is transparent and helpful but IQ Option is also regulated by CySEC based in Cyprus.

One Response

  1. Andre Witzel September 21, 2020

Leave a Reply

User Review
  • Sending
    Asset varierity
  • Sending
    Trading platform
  • Sending
    Support
  • Sending
    Fees
  • Sending
    Deposit/Withdrawal