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IQOption Review 2021

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IQOption Main Features
☑️
Regulations
CySEC (Cyprus)
️🗺
Supported Languages
Spanish, German, French, Arabic, Russian, Portuguese, Hindi, Chinese, Italian, Lithuanian, Ukrainian, Urdu, Thai, Turkish, Azerbaijani
💰
Products
Crypto, Currencies, Commodities, CFDs, Indices, ETFs, Stocks, Options
️💵
Min Deposit
$10
💹
Max Leverage
1:30 (CySEC)
🖥
Trading Desk Type
Dealing Desk, Market Maker
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IQOption Full Review

“IQ Option Europe Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) and offers trading on more than 345+ tradable assets across Forex, Stocks, Commodities, Cryptocurrencies and ETFs via CFDs and Binary Options on their own unique, proprietary trading platform for PC, Mac, Android and iOS operating systems.”

IQ Option Europe Ltd was founded in 2013 and is headquartered in Cyprus. The broker is regulated by the Cyprus Securities and Exchange Commission (CySEC) to operate the www.eu.iqoption.com domain name. The broker also operates www.iqoption.com which is not regulated. This review is focused on the services provided by the broker’s CySEC regulated arm and will be referred to as just IQ Option.

The broker offers users the ability to trade on more than 345+ tradable assets across Forex, Stocks, Commodities, Cryptocurrencies and ETFs via CFDs and Binary and Digital Options with the latter only available to professional clients. IQ Option provides users with their own unique, proprietary trading platform that is free to download and use on PC, Mac, Android and iOS operating systems.

IQ option offers a variety of different features suitable for both beginner and advanced traders such as the use of a free demo account, up to date technical analysis via their blog covering a wide variety of asset classes, as well as an economic and earnings calendar for stock traders and educational videos.

Pros:

Cons:

  • EU website regulated by CySEC.
  • Wide variety of asset classes and trading products.
  • Trading platform accessible on PC, Mac, Android and iOS.
  • Up to date technical analysis blog and useful stock research tools.
  • 24/7 customer support.
  • No Indices to trade on.
  • MetaTrader or cTrader platforms not offered.
  • Binary and Digital Options only available to professional clients.

About the Author

Jitan Solanki
Author
Jitan is a currency trader and an accredited Market Technician with more than 15 years of experience working with fund managers and on several proprietary trading floors. He is regularly quoted in the financial media for his currency market insights and forecasts and is based in London.
Read More

Review sections


IQ Option Video Review

Investor Protection & Regulations

“IQ Option Europe Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is a member of the Investor Compensation Fund and offers segregated client funds.”

IQ Option is authorised and regulated by the Cyprus Securities and Exchange Commission under the company name of IQ Option Europe Ltd to operate the www.eu.iqoption.com domain name, as confirmed on the CySEC register below:

This allows the broker to also provide services to other European Economic Area (EEA) countries. Some are listed on the broker’s website below:

According to the broker’s website, IQ Option offers further protection to clients by:

  • Being members of the Investor Compensation Fund.
  • Holding client funds in segregated bank accounts.

These details are confirmed on their website, as shown below.

Tradable Products

“IQ Option offers clients more than 345+ tradable assets to trade on across Forex, Stocks, Commodities, Cryptocurrencies and ETFs via CFDs, Binary and Digital Options. However, the broker does not yet offer trading on Indices.”

A wide range of asset classes are available to trade on with IQ Option. This includes CFD trading on 186 Stocks, 64 Forex pairs, 25 ETFs, 10 Cryptocurrencies and 5 Commodities. The broker also offers Binary and Digital Options trading on 56 different markets but this is only available to professional clients.

Below is a list of just some of the available markets for trading:

Forex  Commodities Stocks
CHF.NOK Platinum Beyond Meat
EUR.GBP Silver Unilever
USD.CAD Gold Tesla
AUD.NZD WTI Oil Poste italiane
PLN.SEK Brent Oil Commerzbank
Cryptocurrencies ETFs Options
Bitcoin MSCI Mexico ETF Amazon
Ripple Gold Miners ETF Gold
Ethereum US Real Estate ETF USD.NOK
Litecoin iShares Russell 2000 ETF AUD.JPY

* Details regarding the available assets are taken from the IQ Option website and are correct at the time of this review.

Trading costs such as spreads and overnight funding (swap) rates vary depending on the instrument being traded. For example, when logged in to the broker’s trading platform the spread on EUR/USD is just 1.3 pips.

Account Opening<

“IQ Option offers three trading accounts for beginner and advanced traders: Retail, Professional and Demo.”

IQ Option provides access to three different trading accounts in line with ESMA regulations. These are standard retail accounts and a professional account. Holders of a professional account can access Binary and Digital Options, as well as receive some additional benefits and lose some protection in line with ESMA regulations. More details can be found on the broker’s website:

Opening an account with IQ Option is relatively simple and can be started by clicking the Sign Up button on the broker’s homepage:

Users will then be shown the page below, allowing traders to switch between a practice account and live account.

At the same time, users will be sent an email to verify their email address. Once this is confirmed, users are asked to confirm their phone number, as well as personal details and trading experience:

These verification processes can be done at any time. However, the forms need to be filled out before any deposits can be made:

Users can click the face icon on the top right of the website to access their IQ Option member’s area which will pop up on the right-side of the page. From here, users can view balances, trading history, deposit and withdrawal instructions and more:

Clicking on the Trade Now option will open the IQ Option trading platform:

IQ Option’s offering and account opening process is simple and easy to understand with the choice of Retail and Professional Accounts in line with ESMA regulations and the free use of a Demo Trading Account.

The broker does not accept clients from Australia, Belgium, Canada, Iran, Israel, Japan, Latvia, North Korea, Palestine, Russia, Sudan, Syria, USA.

Deposit & Withdrawals options

“IQ Option offers a variety of ways to deposit and withdraw funds using Skrill, PayPal, Neteller and Sofort payment providers as well as via bank wire and credit cards.”

IQ Option offers a variety of ways to deposit funds into a trading account including through Skrill, PayPal, Neteller, Sofort, WebMoney, bank wire transfer and via Visa or MasterCard. Deposits are commission-free and range from instant to 1-3 business day deposits, as shown below:

The broker also offers a variety of ways to withdraw funds with the minimum deposit being 10 EUR/GBP/USD. However, the processing times and commissions vary depending on the method chosen, as shown below:

Generally, withdrawals are commission-free with the exception of bank wire transfers. There are also certain minimums to abide by as listed above.

Traders can deposit funds directly from the member’s area by clicking on the Deposit tab:

Web & Desktop Trading Platforms

“IQ Option offers traders free access to their very own proprietary trading platform accessible on PC, Mac and Web. While the platform offers some unique features, some traders may find the order functionality limited compared to the globally-recognised MetaTrader platform.”

The IQ Option trading platform can be accessed via web or desktop download for PC and Mac. The design is clean and user-friendly. However, some traders may find the order functionalities limited and challenging, compared to other globally-recognised trading platforms such as MetaTrader and cTrader.

This is largely due to a few factors. One is the difference in terminology. Instead of using terms like stop loss and take profit, IQ Option uses ‘when profit is’ and ‘when loss is’. From here, traders only have three options to choose from: Percentage, Profit or Asset Price. Unfortunately, there is no ‘pips away’ option, as shown below:

Having said that, traders can choose from a large range of asset classes such as Forex, Stocks, Commodities, Cryptocurrencies and ETFs, as shown below:

From the IQ Option trading platform traders can access:

  • 18 different trading timeframes (from 5 seconds to 1 month)
  • 4 different chart types (including candles, bars, line and Heikn-Ashi)
  • 5 graphical tools (horizontal lines, Fibonacci lines, etc)
  • 50+ technical trading indicators such as MACD, RSI, Stochastic, etc as shown below:

Users can also access a wide variety of supportive trading tools such as market analysis, video tutorials and a trader leaderboard, all directly from the platform.

To download the platform, users simply need to select the Download the App button on the broker’s homepage which will redirect to the webpage below:

Mobile Trading Platforms

“IQ Option offers its own proprietary mobile trading app that is feature-rich, easy to use and accessible on Android and iOS operating systems.”

The IQ Option mobile trading app is feature rich and is effectively the desktop and web version on your mobile phone. On the Android version, the app opens up in landscape mode to help fit more features in. On the left side, traders can access their account settings such as deposits, withdrawals, history and so on, as shown below.

In the actual trading app, traders are faced with multiple trading features. For example, traders can access a wide variety of asset classes to trade on including Forex, Stocks, Commodities, Cryptocurrencies and ETFs:

Once selected, users can also access a wide variety of trading indicators to place on the chart:

Traders can then use the IQ Option one-click trading facility to buy and sell the asset classes of their choice and place stop loss and take-profit levels directly on the chart from simply dragging the horizontal price levels:

From our observations, the IQ Option mobile trading app is easy to use, feature rich and offers the same level of functionality as the web and desktop version, making it suitable for both beginner and advanced traders.

Trading Features

“IQ Option offers a feature-rich trading platform suitable for beginner and advanced traders. However, there are currently no additional features available such as automated trading services or social trading with the exception of Binary and Digital Options trading for professional clients and a Trader Chat function.”

As IQ Option trading platform is proprietary there are no additional downloads to add more features. In fact, the broker’s trading platform is feature rich allowing access to a wide variety of trader research and education tools directly from the platform.

At the time of writing, the broker offers no additional trading features beyond what has already been described in the previous sections, such as automated trading or social trading. However, professional clients can access Binary and Digital Options trading products if they meet the application criteria stated earlier in this review.

Within the trading platform, users can also access a live chat option with other traders in different trading rooms, including:

  • Stocks Chat
  • Forex Chat
  • English Chat
  • Crypto Chat

Commissions & Spreads

“Trading costs with IQ Option vary depending on the market being traded but largely come from a mixture of commission, spreads, overnight swaps and dormant account fees.”

IQ Option offers the same trading fees for both retail and professional traders. While the broker has a Trading Fees and Hours page, not all fees are listed with some applicable for dormant accounts which are listed in their Terms & Conditions.

Generally, the broker offers commission-free trading on most products with variable spreads and swaps in addition to a broker markup, as highlighted below:

IQ Option Forex Trading

IQ Option offers commission-free trading on Forex CFDs, with variable spreads and swap fees.

The broker gives a detailed breakdown of average spreads, trading hours and swap rates for each individual Forex pair on their website, as shown below:

IQ Option Stocks Trading

IQ Option offers commission-free trading on Stock CFDs, with variable spreads and swap fees, as shown below:

IQ Option Commodities Trading

IQ Option offers commission-free trading on commodities, with variable spreads and swap fees, as shown below:

IQ Option Cryptocurrency Trading

IQ Option offers commission-free trading on cryptocurrencies, with variable spreads and swap fees, as shown below:

There are other fees to be aware of when trading with IQ Option, such as:

  • Dormant account fees, charged monthly, up to 10 EUR.
  • Verification account closure fee up to 5 EUR if the closure of the account is made because the client hasn’t provided the appropriate documentation to verify their account.
  • Exchange fees charged by banks or payment service providers for deposits and withdrawals.

Bonus & Promotions

“IQ Option does not currently offer any bonus or promotional offers in line with ESMA regulations.”

ESMA regulations restrict European-regulated brokers from offering a bonus or promotional offers which is why IQ Option, as a CySEC regulated broker, does not currently offer any.

Customer Support

“IQ Option offers 24 hours a day, 7 days a week customer support via Live Chat, Phone, Email, Telegram and Social Media in English, Portuguese and Spanish. However, the response time was less than impressive.”

IQ Option offers 24 hours a day, 7 days a week customer support via Live Chat, Phone, Email, Telegram and Social Media in English, Portuguese and Spanish.

After clicking on the Live Chat icon to speak to an operator on a Wednesday afternoon (UK time), a customer support agent was not available. In fact, the Live Chat window was open for 4 hours and no-one was available to respond, even after asking the same question multiple times:

Research

“IQ Option offers a variety of research tools for traders including an Economic Calendar, an Earnings Calendar and detailed information regarding individual Stocks.”

Users can access a wide variety of up to date research tools and articles directly from the IQ Option website or through their trading platform. For example, the broker offers an impressive Economic Calendar, as well as an Earnings Calendar for Stock traders:

The broker also provides access to a News Feed with articles from different media outlets such as the Wall Street Journal, Kitco and Market Watch:

Users can also research stocks through the broker’s Stock Collections separated by Sector and Industry:

Individual Stock traders can also access impressive information regarding individual companies, with the broker providing a chart of the company, some fundamental information, recent news about the stock in question, an analysis of earnings and a profile of the company:

These features are ideal for both beginner and advanced traders with the tools more useful for Stock traders.

Trader Education

“IQ Option offers a large variety of educational videos covering a variety of topics in their Ultimate Trading Hub.”

Traders with IQ Option can access the broker’s Ultimate Trading Hub which has detailed videos on a variety of topics, as shown below:

There is a large variety of beginner and advanced trading topics covered in the video tutorial section. The Market News and Crypto Digest sections contain the most videos and are up to date with recent market action.

Trading Experience

“IQ Option offers a unique trading experience on their own proprietary trading platform on more than 345+ tradable assets across Forex, Stocks, Commodities, Cryptocurrencies and ETFs via CFDs and Binary Options (for professional traders). The broker also offers an impressive range of research and educational tools suitable for both beginner and advanced traders.”

From our observations, IQ Option provides a simple offering with a relatively easy account opening process for Retail and Professional clients. The broker offers traders the ability to trade on more than 345+ tradable assets across Forex, Stocks, Commodities, Cryptocurrencies and ETFs on a commission-free basis. Unfortunately, they do not yet provide trading on Indices.

While the broker does not offer trading on third-party platforms like MetaTrader or cTrader, they provide a user-friendly proprietary trading platform that can be used on PC, Mac, Web, Android or iOS systems. The platform itself offers a wide range of features that can be accessed directly from the platform such as market analysis, one-click trading and so on. Advanced traders who are used to other platforms may find some order functionality limited. However, the mobile trading app offers a lot of features compared to other mobile trading apps.

FAQ

Is IQ Option regulated?

Yes, IQ Option Europe Ltd is regulated by the Cyprus Securities and Exchange Commission (CySEC).

Where is IQ Option based?

IQ Option is based at the Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus.

How does IQ Option make money?

IQ Option makes money through spreads, swaps and commissions on certain tradable asset classes.

How do I deposit in IQ Option account?

Funds can be deposited into a trading account via Skrill, PayPal, Neteller, WebMoney, Sofort, bank wire transfer and through Visa or MasterCard.

What is the min. deposit for IQ Option?

The minimum deposit to open a trading account is 10 EUR/GBP/USD.

How do I withdraw money from IQ Option?

Withdrawals can be made from IQ Option through the member’s area, or trading platform and can be done via Skrill, PayPal, Neteller, WebMoney, Sofort, bank wire transfer and through Visa or MasterCard.

What is the max leverage in IQ Option?

The maximum leverage offered by IQ Option is 30:1 for Retail traders in line with ESMA regulations.

How do I open an account with IQ Option?

An account can be opened at the click of a button on the IQ Option website and can be done in just a few steps.

Does IQ Option use MetaTrader?

No, IQ Option does not use MetaTrader.

Conclusion

“IQ Option is a CySEC regulated broker offering to trade on more than 345+ tradable assets across Forex, Stocks, Commodities, Cryptocurrencies and ETFs via CFDs and Binary Options for professional traders. The broker also offers trading on their own proprietary trading platform which comes with some order limitations but other unique features.”

IQ Option is regulated by the Cyprus Securities and Exchange Commission (CySEC) and is a member of the Investor Compensation Fund, providing clients with segregated accounts and a negative balance protection policy in line with ESMA regulations.

The broker offers trading on more than 345+ tradable assets across Forex, Stocks, Commodities, Cryptocurrencies and ETFs but no Indices at this moment. Most markets are offered commission-free to trade on with fees coming from spreads, swaps and other account related fees. The broker also offers impressive research tools, especially for Stock traders.

The IQ Option trading platform is unique yet user-friendly and can be used on PC, Mac, Web, Android and iOS. While some advanced traders may find some order functionality limited, the platform comes with a wide variety of unique trading features. The broker’s mobile trading platform also comes with many advanced trading tools compared to other mobile trading apps.

  • Regulated by CySEC.
  • Negative balance protection policy and segregated client funds.
  • More than 345+ tradable assets across Forex, Stocks, Commodities, Cryptocurrencies and ETFs via CFDs and Binary Options (for professional traders only).
  • Proprietary trading platform with unique trading features accessible on PC, Mac, Web, Android and iOS.
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See IQOption Full Information
Broker General Information
Trading Features
Other Details
Headquarters Country
Cyprus
Foundation Year
2013
Regulations
CySEC (Cyprus)
Publicly Traded
No
Number Of Employees
200+
Trading Desk Type
Dealing Desk, Market Maker
Trading platforms
Proprietary
Restricted Countries
United States, Russian Federation, Belgium, Turkey, Japan, Australia, Canada, Palestine, Syria, Latvia, Israel, Iran, North Korea, Sudan
Supported Languages
Spanish, German, French, Arabic, Russian, Portuguese, Hindi, Chinese, Italian, Lithuanian, Ukrainian, Urdu, Thai, Turkish, Azerbaijani
Min Deposit
$10
Max Leverage
1:30 (CySEC)
Deposit Options
Wire Transfer, Credit Card, PayPal, Cryptocurrencies, Skrill, Neteller, Moneybookers, Webmoney, QIWI
Withdrawal Options
Wire Transfer, Credit Card, Skrill, Neteller, Webmoney, Moneybookers, QIWI
Cryptocurrencies
Bitcoin
Fixed Spreads
Yes
Commission On Trades
Yes
Products
Crypto, Currencies, Commodities, CFDs, Indices, ETFs, Stocks, Options
Mini Account
No
Premium Account
Yes
Demo Account
Yes
Islamic Account
Yes
Segregated Account
No
Managed Account
No
Institutional Account
No
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