IQ Option is one of the leading brokers offering Binary Options, CFDs, Cryptocurrency and Forex trading. Our detailed review includes a full overview of the trading platform, review of the mobile app, strategy and tips on using a demo account effectively. Join millions of other merchants and login today.
General Risk Warning:
The financial products offered by the Company carry a high degree of risk and may result in the loss of all your funds. You should never invest money that you cannot afford to lose
trading platform
To provide clients with access to the financial markets and online trading, IQ Option developed its own bespoke trading platform and range of instruments. The platform’s interface and features are not what most binary traders are used to, as it is modeled on the more advanced systems used by the forex trading industry through Spot.
IQ Option software includes tools such as stop loss, and take profit levels – not available on ‘standard’ binary operators.
To add to trader risk management and trading strategy options, the firm also created a ‘position top-up’ feature. This is a mechanism that allows trades to be kept open beyond the stop loss.
strategy tool
The strike price and trading buttons are clear and intuitive, as are the price graphs and charts. Navigation is simple, traders can easily switch between assets and markets. On top of that, the entire layout is configurable and customizable – so traders can move multiple graphs or analysis tools where they like, to suit their trading strategy.
The customizable elements make this one of the best trading platforms in the industry.
The platform is available as a web-based hub, or alternatively, traders can download a version for PC or Mac. The download is marginally faster. There is also a mobile platform. All platforms are reliable, but PC downloads have the fastest trade execution times.
Currently, there is no MetaTrader 4 (MT4) integration.
It is clear that the software is one of the most sophisticated trading platforms in the binary industry, especially over the counter (OTC) brokers.
The website is available 24/7 so there are no ‘opening times’. However, the assets will be available for trading only when the respective market opens. Many forex pairs are traded around the clock during the week, but only US stocks can be traded when the NYSE is trading.
charting
In addition to having a fresh user interface, the trading platform allows traders to change the view of their charts from a choice of four different layouts:
- Heikin-ashi
- Line
- the bars
- Candle
The timescale for bar and candlestick charts can be chosen from an impressive 18 different intervals – and multiple graphs can be used to confirm trends on more than one time frame.
In addition, there are various other tools such as a line drawing tool that traders can use to plot their own trends on live charts. The latest update also adds a wealth of technical analysis features. Several indicators such as Bollinger Bands, moving averages or Relative Strength Index (RSI) can be placed on the chart. There are about 20 different indicators available.
Charting enables active traders to use price action patterns to spot opportunities in different time frames, making correct predictions more likely.
Perhaps one of the most useful features about the trading platform is the ability for traders to place multiple trades on the same graph. This is especially useful when you want to employ more sophisticated trading strategies or trading signals. Turbo and Martingale strategies are easier to implement when you can monitor open positions on the same chart.
Trade sizes range from just $1, up to a maximum investment of $20,000 on classic options.
forex and crypto products
New products such as forex and cryptocurrency trading display slightly different options depending on the market being traded. For example, forex trades will bring leverage and stop loss features. Assets such as bitcoin or ethereum traded through contracts for difference do not expire, trading can be automatically closed when 95% of the loss is reached. However, they do have Stop Loss and Take Profit. The new forex offer makes weekend trading possible as well.
However, the look and feel remains the same throughout the trading range, and all relevant information is available to the trader. A trader used to binaries can still feel at home if they want to trade forex.
mobile app
The IQ Option mobile trading app follows the evolution of bespoke trading platforms, and provides an intuitive mobile user experience. The trading area matches Sam, and the screen, buttons and ‘look and feel’ of the full website, or desktop download.
The mobile application is distributed as a customized product for each operating system, therefore the IQ Option Android App is developed only for Android devices. Similarly, an iOS app is written with the iPhone or iPad in mind and ensures that it gets the most out of those devices. It’s worth noting in detail what IQ is going to be known for.
Recent changes from Apple regarding binary related applications have been swiftly handled by IQ Option. Their ability to adapt to the changing investment landscape is reassuring. The new version includes forex and CFD trading – and cryptocurrency trades will also be available after release.
There is an ‘IQ Option for Windows’ version, as well as Android and iOS versions. The download buttons below will take you directly to the Google Play or App Store, and the most up-to-date version of the mobile trading app:
Download IQ Option App
Trading Options (CFD, Forex and Binary)
IQ Option has become a fast addition to the portfolio of the underlying asset. Traders are able to trade across 4 major asset classes namely Forex, ETFs, Cryptocurrencies, Commodities, Equity and Indices. They also respond to user demand
Currency pairs are a particular strength at IQ, with some of the more exotic currencies available, including NOK, SEK and TRY. The asset list is extensive, so traders can place their moves across multiple markets. The dollar, euro, yen and pound sterling still dominate most forex trading and make up the bulk of trading volume. EUR/USD remains the most popular pair to trade.
The firm has also added to its range of expiration dates. Previously specializing in short term expiration, IQ now offers many more options – including the popular End of Day, and End of the Week and End of the Month. Merchant choice has never been greater.
“Forex” can be traded per pip (besides binary trades) and for long term trades CFDs can be traded with no expiry, automatically closed when a trade reaches 95% loss It is possible Recent cryptocurrency expansion provides access to bitcoin and 6 other cryptocurrencies through contracts for difference – meaning no expiration.
The Forex multiplier is a feature that IQ Option has added to provide a level of leverage. The maximum multiplier now reaches an exciting x 1000 – but remember that this affects both profits and losses. So you can multiply your trade size up to x1000 to trade with smallest moves in currency markets.
cryptocurrency multiplier
In addition to traders having the ability to trade crypto assets using CFDs, Forex or classic options, IQ Option also introduced a new vehicle – cryptocurrency multipliers. These trades are effectively a leveraged trade. The underlying price remains the key element, but with a multiplier, the trade is amplified. This magnifies the potential profit or loss made on any trade.
As the name suggests, this was a multiplier of 100 applied to the price of bitcoin. Increased volatility, for an already volatile asset – difficult for traders.
The product was so successful that IQ has expanded the offering. So multiples are now available on more cryptocurrencies, such as Ethereum (ETH), IOTA, TRON, and Ripple. Multipliers range from x20 to x50 and x100 on bitcoin. This provides another high risk/reward avenue for traders to profit on crypto assets.
Trading cost (spreads, commission)
When comparing brokers, you need a broker who is transparent with their fees and costs. To understand what trading IQ will cost, you need to consider:
- Spreads – The difference in price between buying and selling prices. It varies based on things like volatility, asset, liquidity and even hours.
- Withdrawal Fee – Customers will be subject to 2% withdrawal fee starting from the second withdrawal per month.
- Commission – On cryptocurrency trades, a commission of 2.9% is levied. In other markets there is no commission at all.
- Swap Fees – An overnight fee is charged for some trades. They vary from 0.01% to 0.5% and are higher when open on weekends.
- Inactive Account Fee – Where an account is inactive for 90 days, a fee of €10 (or currency equivalent) will be charged each month until the balance becomes zero.
deposit and withdrawal
Deposits can be made using a range of options – these will vary depending on the user country, but popular methods include using debit and credit cards, e-wallets such as Steril and Neteller and even using the Hoadly service Is. Crypto currencies are included through.
IQ Option recently introduced Astropay to facilitate payments from regions that may have had fewer options in the past, such as Brazil, Argentina or Vietnam. In addition, IQ now also accepts bank transfers from a wide range of Asian banks:
- Thailand – Bangkok Bank, Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, Bank of Ayodhya, Government Savings Bank, TMB Bank.
- Philippines – Help 2 Pay
- Vietnam – Vietcombank, Bank for Investment and Development, Techcombank, Vietin Bank, Asia Commercial Bank, Sacombank, Donga Bank, Exambank.
- Malaysia – Supported banks include: Maybank, RHB Bank, Public Bank, Hong Leong Bank, CIMB Bank, mBank
South Africa is also supported through a range of new payment methods including Perfect Money. In fact, Perfect Money caters to a huge range of territories including South America (Argentina, Brazil and Colombia).
China Union Pay provides payment solutions for merchants in China, Taiwan, Hong Kong or Macao
Safe
Deposit errors are rare, and the help desk can usually help if users encounter problems. Depositing with IQ Option is safe.
Withdrawals can be made using a list of methods. Verification is required before the withdrawal method can be used, and withdrawal proofs remain in the user’s area for the lifetime of the account for audits etc.
account type
The Standard trading account requires a minimum initial deposit of $10. The Basic Account includes all the option types, withdrawal options and functionality as the higher level accounts.
The firm offers a VIP account. To get the VIP account type, a trader needs to deposit $1600 or more in a single deposit. Benefits of VIP status include:
High payouts (for example, 3% on FTSE or Google trades)
- Access to major tournaments with prizes of up to $100,000
- Exclusive educational content for VIP account holders.
Payment
In terms of return on investment, Standard Payments offer very competitive rates. Under the right conditions in case of a successful trade, traders can get a payout (in case of a correct prediction) of up to 100%. These payouts will vary depending on the asset selected and the expiry time. The ‘Headline’ payout of up to 100% (in case of correct prediction) is one of the best offers in the industry. Note that the term ‘profit percentage’ does not guarantee profit, only the profit made if the trade is successful.
forex and cfd
Payouts on products such as Forex and CFD trades will depend on the performance of the underlying asset. IQ provides the risk management tools you would expect when trading these instruments. They include Stop Loss and User Defined Leverage (which can be set to zero). The new product moves IQ Option into the league of the leading global brokers, and their offering certainly steps up to that level. They even offer direct access to Bitcoin and Ethereum trades – which many of the larger brokers do not.
Spreads on Forex and CFD trading are also competitive. So the cost or fees of trading with IQ are low, and certainly on par with larger, established online brokerages. The Free Practice Account is a great way to experiment with other asset types, risk free.
promo code
IQ previously offered monthly promo codes as a welcome offer for new customers. These were paid in the form of a deposit match, and would ‘scale’ the level depending on the size of the initial deposit.
History
Established in mid-2013, the brand is – in our opinion here at BinaryOptions.net – one of the most reliable and innovative binary brokers in the industry. His reputation has also been enhanced by the various awards he has won from a range industry critics. They list their full list of awards on their website – The list of awards cited on their website are from reputable comparison sites and attest to their credibility. IQ Option is safe and not a scam.
Our user satisfaction feedback is positive for IQ – users have few complaints and use the IQ Option platform for many months and years. Forum feedback is also positive.
Site connection problems (site “not working” or “not loading”) are often a local issue to the user rather than an actual problem with the platform itself. Likewise ‘server down’ or similar errors are usually client end rather than a real problem on IQ Option
To maintain their reputation and user trust, the firm operates in a very transparent manner, for example:
- Free Practice / Demo Account – It runs parallel to the real money account and has no time limit. IQ Option is happy for traders to retain their skills for a long time, and is confident in its trading platform to maintain trader retention. A demo download is available, but traders can only access the full, mobile-friendly, website. Demo balance can be reset by contacting the support teams.
- Hedging – IQ is clear on how and when they will hedge their positions. This should serve to reassure traders who are fearful ‘over the counter’ brokers only want to see losing traders. IQ actively manages their risk.
- Support – Support is offered in multiple languages and includes live chat for quick resolution of any complaints. Users opening, deleting or closing an account need to contact telephone support.
- News – Event calendar and brand news are fed through the user area.
regulation
As indicated on their website, IQ Option Europe Ltd is operated by Infofield Premier Ltd (registration number: HE324593) and Investlab Holdings Ltd (registration number: HE327751). As Investlab Holdings Limited is regulated by CYSEC (license number: 247/14), this means that traders trading on the platform are also protected under the provisions of MiFID.
demo account
IQ offers the best demo account terms in the industry. This is a no deposit demo account. The balance can be restored as needed, up to $10,000, and the practice account is usable long-term, with no time restrictions.
A demo, or virtual, account may also run side by side – “instead” of a real money account. This allows real money traders to switch to a demo account and test a new strategy or strategies without risking real money. This is the most flexible demo account available and completely risk free. This offer, coupled with the low minimum deposit amount, is the reason why this broker has grown so rapidly. That’s why the brand appeals to beginners and novices alike. This shows a genuine belief that they have one of the best trading platforms out there, and know that once traders have used it – they will stick with them.
Country
IQ offers trading in multiple countries, and supports multiple languages. In 2014, the firm operated in 18 countries – this was up to 178 in 2016. However, there are some countries where trading with IQ is not possible due to regulations or local laws. Therefore traders from Canada, USA and Australia are currently not allowed to open accounts.
Starting operations primarily in one of the largest merchant ‘bases’ for the brand, followed by other trading centers such as India and Sweden.
This firm is also growing very fast in Asia, binary has become legal in India. They have recently added several areas to their list, including:
- malaysia
- Singapore
- thailand
- India
- Pakistan
- Philippines
Other areas of growth include Africa, where Ghana and Nigeria are seeing a large number of new traders. This growth is partly aided by a ‘softer’ regulatory regime. With responsible brands like IQ Option, it works really well. Marketing has taken a hit in the United Arab Emirates, Brunei and even for similar reasons.
Traders from these regions are now able to register on IQOption. The login process is very quick, and demo account sign up only requires an email address. Beyond the login screen, traders must make a deposit before trading for real money. However, the minimum deposit is $10 – the lowest in the industry. The minimum trade is equally low, at only $1 per trade.
Competition
There are regular trader tournaments on the trading platform – each with its own set of terms and conditions. It is usually a competition based on trading success with leaderboards. They are a method by the broker to encourage trading, so tournaments are usually decided through the amount of total profit over a given period.
They provide a great way for traders to compete against each other and generate a lot of interest. The wording will often differ – so one tournament may focus on short-term options, while the next may look to a specific asset class, such as forex.
There are often substantial prizes for the winners of these competitions. These tournaments really enhance the customer-friendly experience promoted by the firm, and they are well worth a look.
strategy
Specific strategies for use on IQ Option are difficult to detail due to the vast number of options available. From rainbow strategy to technical analysis a trader’s choices are endless. A winning strategy for eur/usd may not work for trading oil, and learning a lesson from a 60 second strategy may not improve trades of 5 minutes or longer.
However, a demo account is a great place to experiment and find winning strategies. Each trader will need to find their own system, and the unlimited demo on IQ gives traders a better ‘sandpit’ than on Versus Plus500 for example.
binary vs forex
The binary vs forex debate is a more complex argument when looking at strategy – it will always come back to the trader, their risk appetite and their preferred trade length. Our Strategy section may have useful ideas, as will the forum. Our blog entries often contain trading tips, but how they are implemented or acted upon is of course up to the trader.
Strategy elements such as money management are really a question for every trader, as only you can know your risk appetite.
Final point on the strategy is that there is no such thing as a ‘no loss’ system. Some trades will win, some will lose, but winning strategies are profitable in the long run. Anyone offering 100% accuracy (or anywhere near) is very likely to be dishonest. Legitimate traders are very unlikely to give away winning systems for free to discuss on Reddit or Youtube!
Signals and Automated Trades
Currently, IQ does not provide signals to traders. It contains sentiment indicators that give a sense of market sentiment, but no automated signals.
Expert advisors are often a feature promoted in other brands, but ultimately an employee of a broker acting on behalf of the trader is unlikely to be impartial. IQ does not provide an Expert Advisor service on a Standard account.
Firms prefer to enable and educate their traders to make their trading decisions.
questions to ask
What is the minimum deposit amount for opening a trading account?
The minimum deposit on IQ Option is $10, €10 or £10.
Is the IQOption platform reliable?
Yes. The website, desktop download, and mobile app all boast credibility. However, IQ recommends desktop software for faster execution times.
Which trading platform does IQOption use?
IQOption uses a proprietary trading platform. The platform is constantly developed and improved, adding both new features but also new markets. The charting facility on the platform is very advanced.
Does IQ Option offer leverage?
Yes. While the maximum leverage offered by IQ Option is 1:500.
IQ Option also offers ‘multipliers’ on some assets – mainly cryptocurrencies. These act as additional leverage, as much as a move in the underlying price is multiplied by x50. See the IQ Option website for details.
How fast are withdrawal requests processed?
Withdrawal requests on IQ usually take 1-3 business days. After that depending on the withdrawal method requested, it will be 2 or 3 working days before the funds appear in the account.
Does IQ Option accept Paypal?
No, currently the best e-wallet options are Skrill and Neteller. Perfect Money is also a recent addition, as is China Union Pay for merchants in Hong Kong or Macau.
review findings
pros
• High returns of up to 91% in case of successful trades
• Low Suitable Initial Deposit Requirement – Open account with $10
• Regulated broker with CySec
• State-of-the-art trading platform
• Direct access to crypto markets such as bitcoin
• Secure Account Verification
• Quick Withdrawal
Opposition
Smaller range of markets than some rivals on Forex and CFDs
• Removed Self Build Robot / Auto Trading feature.
• No MT4 integration
complaints
Some significant IQ users point to the site not loading, not working, or being offline. These issues are generally on the user’s end rather than the platform’s. The website boasts impressive uptime statistics and they have a strong motivation to make sure their platform is open for business! It is rare for a site to be unavailable or inactive and we never faced such issues when connected through a reliable connection.
Registration
The IQ Option registration process only requires an email and only takes a few moments. Once verified, you will have access to a demo account, and real money markets. To trade on a real account, a deposit has to be made. The deposit process is simple, just like the register process. The minimum is currently $10, and the smallest trade is $1 per option.
contact details
IQ Option offers a variety of contact methods:
- Email – [email protected]
- Telephone support – offered in 18 countries including India, Thailand, Brazil, India and more (helpline details on site)
- Hinds Building, Kingstown, St. Vincent and the Grenadines
Customer support can be accessed via telephone, e-mail or live chat. Clients supported in over 20+ languages.