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IQOption Review 2024

Dan Blystone
Updated: Feb 13, 2024
Overall Rating
  • Trust
  • Fees
  • Platforms and Tools
  • Tradable Instruments
  • Customer Support
  • Research
  • Deposit and Withdrawal
  • Account Types and Terms
  • Education
  • How Did We Test and Rate This Broker?
    When trading forex and CFDs, understanding a broker's strengths and weaknesses is essential. We developed a proprietary rating system, which is the result of extensive research and hands-on evaluation by our expert reviewers. With a rigorous approach, our reviewers manually assess each broker, investing more than 50 hours per review, checking and testing the broker while analyzing over 250 variables to simplify the broker selection process for you. The categories we evaluate include trustworthiness, trading platforms, customer support, regulatory oversight, spreads, fees, the variety of instruments offered, education, and research tools. This unique rating system is specifically developed to ensure that the assessment is based on firsthand knowledge and experience. By dedicating a significant amount of time to each review, our team of experts can provide in-depth insights and help you make well-informed decisions when choosing the broker that best suits your trading goals.

    Our Take on IQ Option

    Limassol, Cyprus-based IQ Option was founded in 2013 and is a growing player in the world of forex and CFD brokerage. IQ Option offers a diverse range of instruments including FX Options via its proprietary web and desktop platforms as well as mobile app.

    The IQ Option platform stands out for its user-friendly interface and innovative features. Its intuitive design, coupled with reliable chat support, makes it an excellent choice for beginners. For seasoned traders, the platform offers advanced charting tools and a variety of sophisticated order types, catering to more complex trading strategies.

    IQ Option Pros and Cons

    Pros: Cons:
    • Top-tier EU regulator (CySEC)
    • Robust platform
    • FX options available
    • Strong range of crypto pairs
    • Solid educational materials
    • Reliable support via chat
    • Robust mobile app
    • Wide spreads in some instruments
    • Offshore entity is unregulated

    IQ Option Highlights of 2024

    • Mixed Trust Rating. I rate The CySEC regulated EU entity of IQ Option as trustworthy due to its tier-1 oversight, lengthy operating history, and high level of transparency. The unregulated offshore entity offers fewer protections to clients and pulls the overall trust score down.
    • Innovative Platform. I judge the IQ Option platform to be intuitive, with a well-designed interface. It is also feature-rich, with robust charting, advanced order types, and a useful market analysis feed.
    • Varied Spreads. My live tests showed that in many instruments spreads are rather wide, making it expensive to enter/exit trades. One exception is EUR/USD with competitive spreads of less than 1 pip.
    • Diverse Range of Instruments. IQ Option offers a better-than-average range of tradable instruments, including ETFs, Crypto, and FX Options.
    • Strong Educational Resources. IQ Options has invested in providing easy-to-digest video tutorials to get you up and running in the markets, along with insightful content on trading strategies.

    What sets IQ Option Apart?

    IQ Option offers original platform features, such as the Leaderboard to rank traders and landscape orientation in the mobile app. For a mid-size broker, it also has a strong variety of tradable instruments.

    Who is IQ Option for?

    I rate IQ Option as more suitable for beginners than advanced traders. The user-friendly web/desktop platform and mobile app make it easy for new traders to get started in the markets. This is complemented by reliable chat support and comprehensive educational materials, including platform tutorials.

    The platform offers features that cater to experienced traders, such as advanced order types and charting, 1-click trading, and trading from the chart. These features make the platform suitable for day trading and scalping. However, the wide spreads in some instruments make short-term trading a challenge. Another limitation is that automated trading is not available via the platform.

    In this review of IQ Option, we focused on the EU entity (IQOption Europe Ltd), found at IQOption Europe Ltd is regulated by CySEC, license 247/14. We conducted our tests using a Standard account via the IQ Option web platform.

    IQOption Main Features

    ☑️ RegulationsCySEC (Cyprus)
    🗺 Supported Languages
    💰 ProductsOptions, Currencies, Stocks, ETFs, Crypto, Indices, Commodities
    💵 Min Deposit$20
    💹 Max Leverage1:30 (CySEC )
    🖥 Trading Desk TypeDealing Desk, Market Maker
    📊 Trading PlatformsProprietary
    💳 Deposit OptionsPayPal, Wire Transfer, Skrill, Neteller, Credit Card, Visa, Mastercard
    💳 Withdrawal OptionsWire Transfer, Neteller, Skrill, Credit Card, PayPal, Visa, Mastercard
    🤴 Demo AccountYes
    🗓 Foundation Year2013
    🌎 Headquarters CountryCyprus
    Risk DisclosureCFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

    IQOption Full Review


    How Did We Test the Broker's Trustworthiness?
    Assessing a broker's trustworthiness with your funds is vital. To help you make the right decision, we carefully checked each broker's regulatory license and examined how well they protect traders. Moreover, we looked at the broker's stability by studying their business history, corporate structure, and industry experience. Finally, we thoroughly reviewed all of the broker's legal documentation, including terms, conditions, and fees, and evaluated their transparency based on our analysis. Our hands-on approach ensures that even novice traders have the knowledge they need to make smart decisions.
    trust chart

    IQ Option’s EU operations are overseen by CySEC, a premier regulatory authority. This regulation guarantees client protection through segregated funds, negative balance protection, and a compensation scheme. With a robust track record spanning over a decade and a commitment to transparency, IQ Option demonstrates reliability in its operations.

    This section will cover how the different entities of IQ Option are regulated and how this impacts you as a trader. We rate regulators on a scale of 1 to 3, with 1 reflecting the highest level of trust.

    • IQOption Europe Ltd is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC), registration number: 327751. We rate CySEC as a Tier-1 regulator.
    • SKY LADDER LLC is a company based in Saint John’s, Antigua and Barbuda, with registration number ILLC 004. SKY LADDER LLC is unregulated.
    IQ Option Europe Ltd on the CySEC Register

    Why is it important to know where your broker subsidiary (entity) is regulated?

    Different regulators provide different levels of protection. For example, IQ Option clients in the European Union (EU) benefit from the oversight of CySEC. It requires that clients have negative balance protection, which means they cannot lose more than their deposit.

    In addition, client funds with CySEC-regulated broker entities are protected by the Investor Compensation Fund (ICF). The ICF secures investments of up to €20,000 if a firm becomes insolvent. A trader working with a broker entity regulated offshore would not necessarily have these benefits.

    The tables below list the protections and benefits by entity, regulator, and region.

    Entity IQOption Europe Ltd SKY LADDER LLC
    Country/Region EU Antigua and Barbuda/Global
    Regulator CySEC None
    Segregated Funds Yes No
    Negative Balance Protection Yes No
    Compensation Scheme ICF Up to €20,000 No
    Maximum Leverage (Standard Account) 1:30 1:500

    Stability and Transparency

    In our tests for the Trust category, we also cover factors relating to stability and financial strength. Here, we evaluate the broker’s longevity in the industry, the company’s size, and its transparency.

    IQ Option traces its origins to 2013, marking it as a relatively experienced forex and CFD broker. According to its LinkedIn page, the company is headquartered in Limassol, Cyprus, and has 51-200 employees.

    In my research, IQ Option showed high transparency in its regulatory status, listing its regulator in the footer of each page of the website. The website breaks down fees clearly with the General Fees document. The Terms and Conditions document can be found in the footer of each page of the website.

    To summarize, my findings indicate that IQOption Europe Ltd can be regarded as trustworthy and stable due to the following qualities:

    • Regulated by top-tier CySEC
    • Over 10 years of operating history
    • High level of transparency


    How Did We Test the Broker's Fees and Commissions?
    Broker commissions and fees can be challenging to understand. To simplify this for you, we carefully examined all the broker's fee-related documentation and presented it in a clear, easy-to-understand format. Furthermore, we conducted hands-on tests on spreads and commissions for the most common instruments during both London and New York trading sessions. We then compared these real-time test results to the market benchmark we've established through our extensive experience evaluating the industry.
    fees chart

    My hands-on tests showed that IQ Option fees are mixed, with plenty of room for improvement. Spreads in some pairs like EUR/USD are competitive, but the majority of instruments I tested had relatively wide spreads. Swap fees are high in comparison to the industry average. The €10 inactivity fee kicks in after just 90 days, which is relatively soon.

    Trading Fees

    I tested the spreads at IQ Option across various markets during the London open at 8:00 a.m. UK time and after the open of the New York forex session at 1:00 p.m. UK time. At these times, the market is typically highly liquid with the tightest spreads. I recorded the data on 6 December 2023.

    Instrument Spread AM Spread PM
    EUR/USD 0.9 Pips 1.3 Pips
    GBP/JPY 2.9 Pips 3 Pips
    Gold  62 cents $1.02
    Light Crude Oil  4 cents 5 cents
    Apple n/a $1.36
    Tesla n/a $1.88
    Dow 30 8.6 Pips 7 Pips
    Dax 40 3.6 Pips 3.6 Pips
    Bitcoin $132 $113

    Spreads of less than 1 pip in EUR/USD marked a bright spot for IQ Options. Such a tight spread makes day trading and scalping viable. The spread of 2.9 pips in GBP/JPY was closer to the industry average. I was disappointed to see a spread of 8.6 pips in the Dow 30 – much wider than most leading CFD brokers.


    IQ Option does not charge commissions for any instruments including CFDs on stocks. All trading costs are reflected in the spread.

    Swap Fees

    In the table below, you can see the Swap Long (the cost/credit of holding a buy position overnight) and the Swap Short (the cost/credit of maintaining a sell position overnight) for one full-sized contract. A full-sized contract is 100,000 units of the base currency (the first currency quoted in the pair). I recorded the data on 8 December 2023.

    Instrument Swap Long Swap Short
    EUR/USD Charge of $7.62 Charge of $8.86
    GBP/JPY Charge of $8.99 Charge of $12.09

    The swap fees at IQ Option are more expensive than average for the industry. Normally a broker either charges or pays interest based on the interest rate differential. IQ Option charges a swap fee even when the client is holding a pair with a positive interest rate differential. Other forex brokers typically pay interest to the trader in this instance.

    Non-Trading Fees

    Clients are charged a monthly €10 inactivity fee if their account has been dormant for 90 consecutive days. The inactivity fee is lifted when the account becomes active again.

    Are Fees at IQ Option Competitive?

    To conclude, I rate the fees at IQ Option as not very competitive for the following reasons:

    • Wide spreads in most instruments
    • High swap fees
    • Inactivity fee that starts after just 90 days

    On a positive note, IQ Options offers:

    • Spreads of under 1 pip in EUR/USD
    • No deposit or withdrawal fees (including via bank wire)

    Platforms and Tools

    How Did We Test the Broker's Trading Platforms?
    We understand that platforms play a crucial role in your trading experience. That's why we spent many hours testing the broker's web, desktop, and mobile trading platforms to gain a real understanding of their usability, functionality, and overall performance. From experimenting with different order types to testing execution speeds, charting, and other features, we thoroughly examined every aspect of these platforms based on our trading expertise, helping you make an informed choice.
    platforms chart

    IQ Option offers its proprietary platform available via web, desktop app and mobile. I rated the platform as user-friendly and feature-rich. Clients can take advantage of popular features like watchlists, 1-click trading, robust charting, advanced order types, and alerts. I was pleased to see that the platform is also highly customizable, with options like multiple chart layouts. The desktop app is exactly the same as the web platform, but slightly faster.

    IQ Option Web Platform

    The IQ Option web platform has a clean, well-designed interface. It is accessible via a web browser without any downloads required. The interface is intuitive and simple, making it suitable for beginners.

    IQ Option Watchlists

    Via the watchlists feature, traders can track a custom list of their preferred instruments. Alternatively, watchlists dedicated to different asset classes are available. In my experience, watchlists are an essential tool for saving time when checking market prices, eliminating the need to look up individual instruments.

    IQ Option Chart Grids

    The IQ Option platform has 23 different layouts for charts you can choose from. I find this a key feature because it allows you to follow and trade multiple instruments at once. An example of where this comes in especially handy is if you are trading a strategy based on intermarket correlations. Trading from the chart is also available, allowing you to enter orders as fast as possible.

    IQ Option Charts

    Charting within the IQ Option Platform is robust, with a better-than-average range of indicators, drawing tools, time frames, and chart types. Traders can make use of the following range of charting features:

    • 100+ Indicators. These include classic trend, volatility, volume, and momentum indicators. A range of exotic indicators like Fractal Chaos Bands are also available.
    • 18 Time frames. Traders can choose from 18 time periods, from five seconds to one month.
    • 5 Drawing Tools. These include Fibonacci lines, trend lines, and horizontal lines.
    • 4 Chart Types. Traders can choose between Bar Charts, Japanese Candlestick Charts, Heikin-Ashi Charts, and Line Charts.
    Order Entry on the IQ Option Platform

    The IQ Option platform provides flexibility with a strong range of available order types:

    • Market orders. Traders use market orders to buy or sell an instrument at the best current price.
    • Limit orders. Traders use limit orders to buy or sell an instrument at a specified price or better.
    • Stop loss orders. Traders use stop-loss orders to buy or sell an instrument when its price reaches a specified level.
    • Take profit orders. This feature allows you to set a limit order at which you exit your position profitably.
    • Trailing stop orders. Traders use trailing stop-loss orders as a stop-loss order at a defined percentage or dollar amount away from an instrument’s current market price. This order type allows traders to secure profits when they are in a winning trade while not having to exit the position. Currently, trailing stop orders are only available on non-margin trades.
    IQ Option Position Monitoring

    The position monitoring panel makes it easy to keep track of the profit and loss of your market positions in real time and view your net P/L. You can also check your pending orders here.

    Alerts on the IQ Option Platform

    The IQ Option platform offers alerts to help optimize your trading performance. You can set up alerts to inform you about when the price of an instrument reaches a specific level. Alerts can be delivered via the platform or by push notification.

    Market Analysis on the IQ Option Platform

    The IQ Option platform has a built-in feed of analysis from sources including Reuters, Daily FX, and FXStreet. A steady flow of stories is published throughout the day. I found this to be a good source of trading ideas at hand within the platform. Earnings and economic calendars are also available via the Market Analysis section of the platform.

    IQ Option Leaderboard

    IQ Option Leaderboard is an innovative feature that allows you to quickly view which traders have made the most money on the platform over a period of one week. You can use the tool to find out your rank worldwide and in your own country. Another interesting feature of the leaderboard is that it allows you to see which instruments top clients are trading.

    IQ Option Order Execution Model

    IQ Option is a DD broker (Dealing Desk broker) and a Market Maker. The company is the counterparty of clients’ trades and takes this risk onto its own book.

    Platform Languages

    The IQ Option platform is available in 15 different languages, to accommodate clients from across the globe.

    Available Platform Languages 
    English | Spanish | Portuguese | Indonesian | German | Russian | French  | Italian | Swedish | Hindi | Vietnamese | Chinese | Bengali | Korean | Lao   

    My Key Takeaways after Testing the IQ Option Web Platform

    The IQ Option web platform really shines in the area of design, and I especially appreciated its uncluttered interface. As a technical trader, I was impressed by the above-average range of chart indicators available. I like to watch multiple instruments at once on the same monitor, so I made good use of the various chart layout grids. Charting is robust, and the range of order types provides traders with flexibility. This is an intuitive platform that can cater to beginners while also having advanced features to accommodate experienced traders.

    IQ Option Mobile App

    IQ Option Mobile App

    The IQ Option mobile app is available for Android and iOS. The app is set to landscape orientation rather than portrait, which works well for analyzing charts. It incorporates the key features of the web platform, like watchlists, advanced order types, alerts, trading from the chart, and the market analysis feed. Two-factor authentication is available for an added layer of security. It is also possible to chat with support and deposit/withdraw funds via the mobile app.

    Advanced charting is available within the app, sufficient to do in-depth technical analysis of the markets while on the move. Traders can work with:

    • 100+ indicators
    • 4 Chart types
    • 7 drawing tools
    • 18 time frames

    The IQ Option mobile app doesn’t skimp on order types either – traders can use standard and advanced order types:

    • Market orders
    • Limit orders
    • Stop Loss orders
    • Trailing Stop orders (only available on non-margin trades)

    My Key Takeaways after Testing the IQ Option Mobile App

    This is a robust app that incorporates the key features of the web-based platform. The main difference is that on the app you can only open one chart at a time, whereas on the web and desktop apps, you can view up to 9 charts at a time. Surprisingly, some drawing tools like Fibonacci Arcs and Fibonacci Spirals are only available on the app.

    The combination of landscape orientation, 1-click trading, and trading from the chart made for a smooth trading experience in my tests. I rate this innovative app as better than average for the industry.

    Tradable Instruments

    How Did We Test the Broker's Tradable Instruments?
    For this section, we examined the broker's market offering, assessing the variety and depth of instruments and asset classes available for trading. Through our proprietary database, we then compared the results with other brokers. This comprehensive analysis allows you to determine if the broker offers the specific instruments and trading options you're looking for.
    tradable_instruments chart

    IQ Option offers a diverse range of tradable instruments, including forex, commodities, indices, shares, ETFs, and cryptocurrencies. Additionally, IQ Option sets itself apart by providing trading in CFDs on options. The strongest area within instruments is crypto, with 26 available pairs. In my assessment, the variety of tradable assets at IQ Option is better than average for the industry.

    CFDs (Contracts for Differences) are financial derivative products that allow traders to speculate in various markets without owning the underlying assets. Tradable instruments at IQ Option include the following:

    • 62 Currency Pairs. A currency pair combines two different currencies, with the value of one currency quoted against the other. For example, EUR/USD, which reflects the value of the euro measured in dollars.
    • 9 Commodity CFDs. Commodities are raw products, such as gold and oil.
    • 376 Global Stock CFDs. IQ Option offers trading in stock CFDs from exchanges ranging from the NASDAQ to the Tokyo Stock Exchange. A stock is a security that represents partial ownership of a corporation.
    • 22 ETF CFDs Exchange-traded funds (ETFs) are financial instruments that track an index or sector and trade like a stock on an exchange.
    • 12 CFDs on Indices. Available instruments range from Taiwan to Brazil stock indices. An index is a basket of trading instruments that are used to gauge a market sector, stocks within an exchange, or the economy of a country.
    • 26 Cryptocurrency CFDs. Cryptocurrencies, such as Bitcoin, are digital currencies that are secured by cryptography.
    • 3 CFDs on FX Options. FX Options give the buyer the right, but not the obligation, to buy or sell a currency pair at a specified rate on or before a specified date.

    In the tables below, you can see a selection highlighting the variety of instruments available at IQ Option:

    Forex Major Forex Minor
    Forex Options Commodities
    EUR/USD | EUR/GBP | USD/JPY WTI Crude Oil | Brent Crude Oil | Gold | Silver
    Indices Crypto
    UK 100 | AU 200 | HK 33 | US 500 Dash | TRON | Bitcoin | Ethereum
    Stocks ETFs
    easyJet | Tesla | L’Oréal | Volkswagen Utilities SPDR | Gold Miners | MSCI Japan | US Real Estate

    My assessment indicated that IQ Option is particularly strong in the areas of indices and crypto. There is some room for improvement in the range of available commodities and currency pairs.

    My Key Takeaways After Exploring IQ Option Tradable Instruments

    For a mid-sized broker, I was impressed by the range of tradable assets at IQ Option. Traders can find the most popular instruments at this broker, and with the availability of CFDs on ETFs, Crypto, and FX Options, IQ Option beats the industry average.

    Customer Support

    How Did We Test the Broker's Customer Support?
    Traders often underestimate the importance of customer support, yet it proves to be a critical aspect during times of crisis. We put the broker's customer support to the test ourselves using all possible channels, such as chat, phone, and others. Our evaluation focused on the accessibility of live agents, as well as the helpfulness and professionalism of their responses. This way, we provide you with comprehensive insights into whether a broker can deliver full support when you need it most.
    customer_support chart

    IQ Option states that it provides 24/7 support. I had a mixed experience in my tests. The chat support was highly responsive and available 24/7, as advertised. I was also able to get good support via email. However, I was not able to reach an operator by phone. Support is available in all the main European languages.

    Support is a key component of a broker’s offering – whether you are a new trader looking for guidance on how to use the platform or an experienced trader who needs help fast to exit their positions in the event of a technical glitch.

    IQ Option Chat Support

    I tested IQ Option customer service over two weeks with dozens of queries, ranging from platforms to fees and regulatory issues. Chat support was on hand quickly, and reliably answered my questions.

    Via email, support was also good, with fast and satisfactory answers to inquiries. However, I was unable to reach support by phone. Every time I called I got a recorded message saying all specialists were busy.

    Deposits & Withdrawals

    How Did We Test the Broker's Deposit and Withdrawal Process?
    The deposit or withdrawal process can be tricky since you may encounter hidden fees or longer than expected processing time. To assess the broker's offerings, we examined their deposit and withdrawal options and conditions. Using our proprietary database, we then compared these results with those of other brokers.
    deposit chart

    IQ Option performed well in the funding/withdrawals category of our review, Clients can deposit and withdraw funds via bank wire transfer, credit/debit cards, PayPal, Skrill, and Neteller. Processing times are relatively fast and all deposits and withdrawals are free of charge.


    Method Commission Processing Time
    Visa / Mastercard 0% Instant
    Wire Transfer 0% 3-5 business days
    PayPal 0% Instant
    Skrill 0% Instant
    Neteller 0% Instant

    The processing time of 3-5 business days for bank wire transfers is fairly standard for the industry. With the availability of credit/debit cards and digital wallets as funding methods, traders have the convenience of funding accounts instantly.


    Method Commission Processing Time
    Visa / Mastercard 0% 1-24 hours
    Wire Transfer 0% 1-3 business days
    PayPal 0% 1-3 business days
    Skrill 0% 1-3 business days
    Neteller 0% 1-3 business days

    IQ Option earned points in our review by not charging a withdrawal fee via wire transfer, which is quite common among other brokers. Processing times are relatively fast in relation to the industry average.

    Account Types and Terms

    How Did We Test the Broker's Account Types and Terms?
    When it comes to achieving your trading goals, choosing the proper account is essential. We initiated our evaluation by personally opening an account with the broker, which allowed us to gain firsthand experience of the process and accurately asses, how fast and easy it is. In addition, we carried out an in-depth analysis of the account types and features offered by the broker, including spreads, maximum leverage, minimum deposits, and more. For a comprehensive comparison, we turned to our proprietary database and examined how this broker's account offerings and processes stacked up against other brokers.
    account chart

    IQ Option only has one account type, although it is possible to access additional instruments by being designated as a professional. The account opening process is fully digital and can be completed via the IQ Option website. I found the application straightforward, and it took me less than 10 minutes to complete. The broker offers a demo account, but Islamic accounts are not available at the EU entity.

    Account Application

    IQ Option Live Account Application

    To open a live account with the EU entity of IQ Option, prospective clients must provide the following information:

    • Personal Details: Name, address, date of birth, citizenship.
    • Employment Details: Employment status, industry.
    • Financial Details: Annual income, net worth, source of funds.
    • Level of Trading Experience: Length of trading experience, number of trades per year, frequency of trading activity.
    • Proof of Identity and Address: Passport, driver license or identity card, household utility bill or a bank statement (address).

    Note: In the background and experience section of the application process, IQ Option asks some basic questions relating to CFD and options trading.

    Demo Accounts

    IQ Option offers demo accounts via the IQ Option web/desktop platforms and mobile app. It is super easy to set up a demo account with IQ Option as you simply need to register with your email address and set up a password to get started.

    Demo accounts are especially important for beginners as they allow them to practice the strategies and get comfortable with the trading platform without risking real money. The demo account features live quotes and simulates live market conditions. Once users are up to speed on a demo account, they can easily switch to a live version.

    Professional Accounts

    Experienced traders can open a professional account, which potentially gives access to assets with a higher risk profile. To be categorized as a professional, you must meet at least two out of three of these criteria:

    • Trading volume. You have made at least 10 deals (each worth €150 or more) per quarter for the last 4 quarters.
    • Sizable portfolio. Your financial portfolio (including financial instruments and cash) exceeds €500,000.
    • Relevant experience. You have at least one year of relevant experience working in the financial field.

    Professional clients receive the same level of protection as retail clients, with one exception – their funds will not be covered under the Investor Compensation Fund (ICF). Professional clients can change their status back to retail at any time.

    Islamic Accounts

    The EU entity of IQ Option (IQ Option Europe Ltd.) does not offer Islamic accounts.


    One of the reasons that traders are attracted to the forex market is the high degree of available leverage. Leverage is the use of borrowed funds to increase the size of your trading positions beyond what would be possible using only the cash in your account. In the table below I cover the leverage available at IQ Option across a range of CFD instruments.

    Major Currency Pairs 1:30
    Non-Major Currency Pairs 1:20
    Gold 1:20
    Major indices 1:20
    Non-Major Indices 1:10
    Stocks 1:5
    Cryptocurrencies 1:2

    Base Currencies

    The base currency is the currency in which your account is denominated. IQ Option offers three base currencies: EUR, GBP, and USD.

    Supported Countries

    IQ Option EU accepts residents from all countries belonging to the European Economic Area (EEA).


    How Did We Test the Broker's Research Tools?
    Research options offered by brokers may not be seen as the most important feature for some traders, but they can provide a competitive advantage. To assess the broker's research offerings, we personally explored and tested both proprietary and third-party tools and content, such as Fundamental and Technical Analysis, Market News, educational videos, and webinars. After evaluating the availability and quality of the overall research offering, we compared the results with our benchmark to provide a comprehensive analysis of the broker's research capabilities.
    research chart

    IQ Option provides a steady stream of news and analysis reports to draw inspiration from. The News and Trade Ideas section of the website contains regularly updated technical and fundamental research materials from sources like Reuters and MarketScanner.

    IQ Option News

    News and analysis reports cover both fundamental themes such as market-moving economic events and technical insights like major support and resistance levels.

    Reuters Reports on IQ Option

    Multiple reports are published daily and I rated the material as in-depth and high quality. News and analysis are also available via the web/desktop platforms and mobile app.

    My Key Takeaways after Examining IQ Option Research Materials

    I liked the blend of breaking financial news and chart analysis coming from various leading sources. Economic and earnings calendars are conveniently available on the website and built into the trading platform.

    The Leader Board within the platform is an innovative tool and an interesting source of ideas for assets to trade. I noted that IQ Option has sentiment data within the platform, but it does not appear to work, because for every instrument it shows 50% buyers and 50% sellers. IQ Option could improve by incorporating videos and live webinars.


    How Did We Test the Broker's Education Offering?
    Gaining knowledge about trading in the financial markets can make the difference between success and failure. To assess the broker's educational offerings, we personally tested and evaluated the quality of the content provided, considering its relevance for both novice and experienced traders. We explored the range of materials available, such as articles, videos, webinars, and courses. After evaluating the content's volume, update frequency, and overall quality, we compared the results with our benchmark to provide a well-rounded analysis of the broker's education offerings.
    education chart

    IQ Option provides video-trading tutorials that cover a wide range of technical and fundamental topics, suitable for beginners. The IQ Option blog and YouTube channel complement this material with a variety of educational articles and videos going into greater depth and covering trading strategy. I rated the content to be high quality and containing plenty of actionable ideas.

    IQ Option Education

    The IQ Option video tutorials spoon-feed the basics of forex and CFD trading in bite-sized videos of a couple of minutes each. Topics covered include:

    • Basics. Covering frequently asked questions about the IQ Option platform (9 videos)
    • Margin Trading. Explains lot sizes, pip values, and how to get started using margin. (2 videos)
    • Fundamental Analysis. Covers how to trade the news and financial calendar. (5 videos)
    • CFD Trading. Addresses key topics like slippage, long and short positions, and swap fees. (11 videos)
    • Technical Analysis. How to use technical indicators in trading (6 videos)

    These videos make a great starting point for beginners and provide a solid foundation for getting started in the world of forex and CFD trading.

    IQ Blog

    More advanced topics are covered via in-depth articles on the IQ Option blog. Here you can find articles advanced covering topics like Trading with ATR (Average True Range) and Top-3 Indicator Combinations. These articles are good primers on how the indicators work and how you can use them to develop your own trading strategy. The blog also features insightful material on important subjects like trading psychology.

    The Bottom Line

    The CySEC-regulated entity of IQ Option is an appealing option for beginners to the forex and CFD markets with its innovative platform and mobile app. Traders can experiment with a great range of assets including an unusually wide range of crypto pairs. I found room for improvement in the areas of spreads. Also, IQ Option could enhance its appeal by offering a Raw Spreads account for experienced traders, a feature common among competitors. The addition of a third-party platform like MetaTrader would also help round out the offering.

    Despite having trouble reaching support via phone, I found chat support to be very helpful and received what felt like a personalized service. My assessment showed that IQ Option went the extra mile with its educational materials, reflecting a commitment to helping traders get off to a strong start in the markets. If you are a casual trader or newbie to the markets, it might be worth taking IQ Option for a test drive via their demo account.


    IQOption Europe Ltd. is headquartered in Limassol, Cyprus.
    The EU entity (IQOption Europe Ltd.) segregates funds, offers negative balance protection, and has a compensation fund in the event of insolvency making it a relatively safe broker.
    IQ Option makes money via spreads, swap fees, and miscellaneous account-related fees.
    With an intuitive platform and strong customer support, IQ Option could be a good fit for beginners.
    You can deposit funds via bank wire, Visa, Mastercard, Paypal, Skrill and Neteller.
    The minimum deposit is €20.
    You can withdraw funds via bank wire, Visa, Mastercard, Paypal, Skrill, and Neteller.
    It takes 1–3 business days to withdraw money via bank wire.
    IQ Option doesn’t charge any withdrawal fees.
    The maximum leverage at the EU entity (IQOption Europe Ltd) is 1:30.
    You can open an account by clicking on the Sign Up button at the top right of the IQ Option website.
    The broker offers the proprietary IQ Option Web Platform.
    Yes, IQ Option offers a demo account.
    IQ Option offers 1-click trading and trading from the chart, making it a viable platform for scalping.
    No, IQ Option does not offer automated trading.
    It is not possible to have a long and short position in the same instrument for hedging purposes.
    No, IQ Option does not offer spread betting.
    No, IQ Option does not offer VPS hosting.
    It depends on the instrument. For example, forex pairs can be traded 24 hours a day during weekdays, while cryptocurrencies can be traded 24/7.
    Yes, IQ Option is the counterparty of client trades and in this way, it is a Market Maker broker.
    No, IQ Option is a broker only.

    See IQOption Full Information

    Headquarters CountryCyprus
    Foundation Year2013
    RegulationsCySEC (Cyprus)
    Publicly TradedNo
    Number Of Employees100
    Trading Desk TypeDealing Desk, Market Maker
    Trading PlatformsProprietary
    Restricted Countries
    French Polynesia, Sierra Leone, Bonaire, Ukraine, Uzbekistan, Brunei, Cambodia, Central African Republic, Comoros, Dominican Republic, El Salvador, Lebanon, Serbia, Ethiopia, Aruba, Mayotte, Madagascar, Fiji, Vanuatu, Gambia, Panama, Singapore, Tajikistan, Vietnam, South Africa, Virgin Islands, British, Tanzania, Isle of Man, Guernsey, East Timor, Kiribati, Libya, Mozambique, Myanmar, Philippines, Haiti, Hong Kong, South Sudan, Sri Lanka, Saint Kitts and Nevis, Saint Lucia, Zimbabwe, Faroe Islands, Saipan, United Arab Emirates, American Samoa, Sint Eustatius, Tahiti, Svalbard and Jan Mayen, Anguilla, Christmas Island, Aland Islands, Cocos Islands, Niue, Montserrat, Saint Helena, Saint Barthelemy, Saint Martin, Saint Pierre, Wallis and Futuna, Canada, North Korea, Iran, United States, Turkey, Australia, Russian Federation, Syria, Israel, Japan, Sudan, Pakistan, South Korea, Brazil, Argentina, Mexico, New Zealand, Thailand, Peru, Chile, Colombia, Venezuela, Saudi Arabia, Switzerland, Taiwan, Honduras, Egypt, Samoa, San Marino, Algeria, Armenia, Bahrain, Barbados, Belarus, Belize, Benin, Bhutan, Bosnia and Herzegovina, Burundi, Cameroon, Chad, China, Costa Rica, Cote dIvoire, Cuba, Cyprus, Dominica, Djibouti, Ecuador, Equatorial Guinea, Gabon, Georgia, Eritrea, Ghana, Jamaica, Jordan, Kazakhstan, Kenya, Nauru, Kuwait, Kyrgyzstan, Lesotho, Laos, Guinea-Bissau, Guyana, Montenegro, Malaysia, Liberia, Sao Tome and Principe, Moldova, Namibia, Palau, Macedonia, Malawi, Mauritania, Maldives, Mali, India, Micronesia, Monaco, Morocco, Nepal, Nicaragua, Indonesia, Nigeria, Oman, Papua New Guinea, Qatar, Gibraltar, Grenada, Guatemala, Guinea, Iraq, Rwanda, Democratic Republic of the Congo, Afghanistan, Curacao, Guam, Cayman Islands, Vatican City, Swaziland, Bermuda, Suriname, Senegal, Zambia, Angola, Timor-Leste, Paraguay, Cook Islands, Antigua and Barbuda, United Kingdom, Tunisia, New Caledonia, Andorra, Trinidad and Tobago, Northern Mariana Islands, Somalia, Puerto Rico, Togo, Mongolia, Azerbaijan, Bangladesh, Belgium, Uruguay, Macao, Turkmenistan, Solomon Islands, Yemen, Greenland, Tuvalu, Botswana, Uganda
    Supported Languages
    Min Deposit$20
    Max Leverage1:30 (CySEC )
    Deposit OptionsPayPal, Wire Transfer, Skrill, Neteller, Credit Card, Visa, Mastercard
    Withdrawal OptionsWire Transfer, Neteller, Skrill, Credit Card, PayPal, Visa, Mastercard
    Time to Withdrawal2
    Time to Open an Account8
    Ethereum, Dogecoin, OmiseGO, Bitcoin, Litecoin, Bitcoin Cash, Ripple, Dash, Zcash, Ethereum Classic, TRON, Cardano, EOS, Qtum, Polkadot, Binance Coin, Chainlink, Solana, Polygon, Cosmos, The Sandbox, Decentraland, Avalanche
    Options, Currencies, Stocks, ETFs, Crypto, Indices, Commodities
    Demo AccountYes
    OCO OrdersNo
    Offers HedgingNo
    Automated TradingNo
    API TradingNo
    Guaranteed Stop LossYes
    Guaranteed Limit OrdersYes
    Guaranteed Fills / LiquidityNo
    Economic calendarYes
    Trading From ChartYes
    One-Click TradingYes
    Expert AdvisorNo
    Social TradingYes
    Trading SignalsNo
    Platform Languages
    Italian, Portuguese, Chinese, Hindi, Swedish, Turkish, Thai, Korean, Vietnamese, English, French, Spanish, Russian, German, Bengali, Indonesian
    24 Hours SupportYes
    Support During WeekendsYes
    Live ChatYes
    Daily Market CommentaryYes
    News (Top-Tier Sources)Yes
    Deposit FeeNo
    Withdrawal FeeNo
    Inactivity FeeYes

    About the Author

    Dan BlystoneBroker Analyst

    Dan Blystone began his career in the trading industry in 1998 on the floor of the Chicago Mercantile Exchange. Later Dan gained insight into the forex industry during his time as a Series 3 licenced futures and forex broker. He also traded at a couple of different prop trading firms in Chicago. Dan is well-equipped to recommend the best forex brokers due to his extensive experience and understanding of the brokerage industry.

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