IQ Option

♛ BEST ONLINE PLATFORM – 4.8/5 – Aug 2019

IQ Option Review – is IQ Option a scam?

 

Reading time: 2 minutes 

Welcome to our IQ Option review. Here is all you need to know about the leading online broker IQ Option.

With our IQ Option review you can learn, how to open an account with IQ Option, the IQ Option App, its key features and discover its free IQ Option demo account.

We will also go through the opportunities to trade Forex, CFDs and cryptocurrency with one of the major online brokers around.

IQ Option is well-known for being an affordable broker and offers the lowest minimum deposit on the market. The minimum deposit is only $10! Since the broker was launched in 2013, they were known for binary options and have now grown to become one of the leaders for Forex&CFDs trading.

iq option review

As well as having the lowest minimum deposit, the broker IQ Option has become popular thanks to its easy to use platform and incredible mobile App. These points will be looked at in more detail in the rest of this IQ Option review.

To trade Forex you need to open an account with a secure and regulated broker. IQ Option is one of those. Let’s see some further details about them now.

Click here to open your first IQ Option trading account.

Open a Free Trading Account

*Risk warning: Your capital might be at risk

IQ Option Availability

IQ Option has become a very popular online broker which is now available to traders in over 30 countries worldwide.

Currently the broker is available across most of Europe and the EEA including Luxembourg and the United Kingdom. However it’s not currently available in Belgium or Latvia.

The broker IQ Option is also currently not offered in the following countries: Australia, Canada, Israel, Iran, Palestine, Russia, Sudan, Syria, Turkey or the USA.

However it is open to traders in countries such as South Africa, UAE, Saudi Arabia, Kuwait, Qatar, Latin America and India.

Regarding Asia, it is very mixed to where the platform is available. For example, it’s accessible in the Philippines, Singapore, South Korea, Thailand, Hong Kong, Indonesia, Malaysia, Laos and Vietnam.

But it is important to remember that IQ Option remains forbidden in Asian countries like China, Japan and North Korea.

So before you start trading, it is a good idea to make sure that the broker is available in your country first.

 

Is IQ Option a Scam?

When discussing online trading and the opportunity to make money, people should ask themselves – is IQ Option a scam broker or a regulated broker?

This is why before starting any trading it’s always useful to check if the broker is regulated as you can do in this review.

IQ Option is a Cysec regulated broker, registered under the company name IQ Option Europe. Its license number is Cysec 247/14 which means that it’s safe and secure to trade with.

If you are a trader based outside Europe and the EEA, IQ Option is registered to a sister company names IQ Option Ltd.

IQ Options is a regulated broker registered to various other financial authorities. See the list below on our review.

The broker’s further regulations:

  • reviewed and monitored by the Financial Conduct Authority (FCA) number 670182
  • reviewed and regulated by Consob in Italy with the license number 0008204/15
  • regulated and reviewed by CNMV in Spain with the number  3867
  • regulated and reviewed by Regafi in France with the number 75119
  • regulated and reviewed in the register of AFM for the Netherlands
  • regulated and reviewed by Finantsinspektsioon for Estonia
  • regulated and reviewed by ČNB for the Czech Republic

 

IQ Option Key Features Review

iq option review

IQ Option uses a very simple and intuitive trading platform. It’s the perfect choice for beginners and also more expert traders. We have explained in the homepage about the importance of a good online trading platform.

There are also many key features that make IQ Option very attractive to potential traders. Especially there Minimum Deposit and Minimum Trade costs. Let’s have a look at some of them:

  • IQ Option Minimum Deposit: $10/£10/€10
  • Minimum Trade: $1
  • Leverage: up to 1:30 for European traders/ 1:1000 if outside Europe
  • Assets: 100+ (CFDs, Forex, ETF, Cryptocurrencies, Stocks, Commodities)
  • IQ Option App: Yes
  • IQ Option Demo Account: Yes

Click here to open your first IQ Option trading account.

Open a Free Trading Account

*Risk warning: Your capital might be at risk

The main attraction with IQ Option for a lot of beginners is that you can start trading with a low minimum deposit. It’s the only broker where it’s possible to start just with $10.

This fact combined with the minimum trade of only $1 allows new traders to test the platform with a very low risk.

Another important factor in forex trading is the leverage. IQ Option is one of those brokers where it’s possible to set up a different leverage for every trade.

What to Trade in IQ Option

There are also more than 100 different assets you can trade in with this broker, available on the App too: all the currencies, ETF, indexes, commodities and cryptocurrencies.

In particular, their crypto trading offer is quite interesting because IQ Option has been one of the first brokers to introduce crypto trading back in 2017.

They have a large cryptocurrency selection to choose from on the IQ Option Platform which includes Ethereum (ETH), Ripple (XRP), Bitcoin (BTC), Monero (XMR), NEO (NEO), Litecoin (LTC), Dash (DASH), Stellar (XLM) and QTUM (QTM).

Alongside the Bitcoin (BTC) they also offer Bitcoin Cash (BCH) and Bitcoin Gold (BTG).

This is a great selection of cryptocurrencies which shows that the IQ Option crypto offering can have other major crypto exchanges.

 

How to Open an Account

iq option account

Click here to open your first IQ Option trading account.

Open a Free Trading Account

*Risk warning: Your capital might be at risk

Opening an account with IQ Option is very simple and fast, as you can read in this review.

You just need to fill the sign up form with some standard details such as name and email address. Then you need to click on the big green button saying ‘open an account for free’.

Yes, you read correctly, to open a trading account (real and demo) is for free!

It’s also possible to sign up directly with the broker using your personal Facebook or Google details. But if you don’t want to share that information then that’s fine too.

To sign up you just need to fill the form with your name, email and password, then in less than 1 minute, you’ll have your new trading account.

The second step is making the first deposit. A deposit is money that you put in your trading account and you will use for your trades.

The minimum deposit on the App and web version with IQ Option is just $10, so it’s really accessible for everybody.

However if you just wish to open an account to try the IQ Option demo account, it’s possible to open a free account without depositing funds. It’s only if you wish to start ‘real’ trading that you’ll need to make the minimum deposit.

To see further instructions of how to make a deposit with IQ Option, please head to the section in this review called ‘IQ Option Deposit‘.

However to make sure that the deposit is made successfully, it’s important that your account is verified first. Let’s read more about that on the review.

 

Account Verification

After your account is opened, it is important that your account is verified by the broker. This must be done for legal purposes and to fulfill regulation requirements.

It helps IQ Option to check that your account really belongs to you and prevents against unsecured and fraudulent acts.

Once your account has been reviewed and verified you will be able to deposit money to your account and start trading. The process starts during the signing up stage when you will receive an email from IQ Options.

This email will contain a unique confirmation code so that you can validate your email address. You may also be asked to confirm your phone number. But if you wish you can skip this step and come back to it later, just click on where it says ‘Skip’ towards the bottom of the page.

The verification process requires you to submit 2 personal documents to the broker so that your identification can be verified.

Documents can be uploaded directly on the platform or through links provided in the sign up email.

  • One document needs to be a Proof of Identity (POI) so a valid driving licence or passport would be suitable
  • The other document needs to be a Proof of Address (POA) so a bank statement or a utility bill showing your current address would do

Once your account has been reviewed and verified you will be able to trade and make withdrawals on your account.

Should you have any issues with the verification process please get in touch with the IQ Option Customer Support. They will be able to help you with any questions.

Click here to open your first IQ Option trading account.

Open a Free Trading Account

*Risk warning: Your capital might be at risk

How to use IQ Option

IQ Option also has a very user-friendly interface. The broker also has its own interactive trading platform which is the same for a demo account. So all the key features you would need are included on one screen. In this review we tested the platform ourselves to see exactly how it works.

iq option trading

The first thing to do is to select the asset which you want to trade. Do this by clicking the plus (+) symbol on the top bar.

From there each trader has the opportunity to choose between a big list of crypto, Forex, CFDs and stock assets. From this list you can select which asset you want to invest or trade in.

After the selection, you need to set up the levels of stop loss and take profit, leverage, the amount to trade plus the buy or sell. To do this you need to go to the column on the right side of the screen. From there it’s possible to select the minimum trade which starts from $1.

Finally, to open the position you just need to click on ‘sell’ or ‘buy’. These buttons are also on the right-hand side of the screen, with ‘sell’ in red and ‘buy’ in green.

At the top bar of your screen, it’s possible to control the opened trades and you can close them manually at any time.

As you see trading with this broker is very simple. All you need is shown on one screen, plus you can also take advantage of the market analysis and video tutorials on the left side of the screen.

If you are not an expert trader, watching some tutorials to learn how to trade and use the platform on a demo account is worth your time. Like this, you can avoid some basic mistakes and optimize your chance to be profitable.

 

IQ Option Demo Account

iq option demo

Click here to open your first IQ Option trading account.

Open a Free Trading Account

*Risk warning: Your capital might be at risk

When you open a trading account with the broker IQ Option, you can also decide to practice using the IQ Option demo account.

Let’s see our review for the IQ Option demo account!

A demo account is a trading account where it’s possible to trade virtual money. It represents the perfect choice for those traders who want to train and practice their strategies without risk.

So all the money you lose is just virtual money, but on the other side, all the money you win is virtual too.

IQ Option offers the opportunity to use a demo account for free and without any first deposit required.

The demo account is available on the IQ Option App version too.

The balance in the IQ Option demo account is $10.000 and the minimum trade is just $1, so you can trade for as long as you need!

If you also have a trading account alongside the IQ option demo account it’s easy to switch between the two accounts.

Just click on your balance panel that is in the upper corner on the right. A panel will open showing all your accounts including the demo. Just click on an account to select the one you want to open.

 

IQ Option Deposit

iq option withdraw

Click here to open your first IQ Option trading account.

Open a Free Trading Account

*Risk warning: Your capital might be at risk

To start trading, it’s necessary to make a deposit. Every broker requires it so that your account has funds which you can use to trade with.

As mentioned before in this review, IQ Option offers one of the lowest minimum deposits on the market at $10.

That’s a great amount if you don’t want to deposit too much or have a limited trading budget.

The $10 minimum deposit keeps trading open to everyone.

It is also possible to select your currency when you carry out the first deposit. So you can make the deposit in any currency which will then be  converted to the currency of your choice.

For example if you are in South Africa, you will be able to make the deposit in ZAR which you can choose to be converted to USD.

However please note that the currency can only be set once during this initial deposit.

After that you cannot adjust the set currency on your trading account. So make sure that you have selected the right one before completing the payment.

To make the deposit the broker has different payment methods you can use:

  • Credit or Debit card: Visa, Mastercard or Maestro
  • Wire transfer
  • e-wallet: Skrill, Neteller or Webmoney
  • Local bank transfer

The fastest options are credit card or one of the Moneybookers. A wire transfer usually takes 4 working days.

There are also no deposit fees charged by the broker!

 

IQ Options Withdrawal

With IQ Option it is simple to make a withdrawal on your earnings. You can also have the money returned to the original payment method you made the deposit on.

When it comes to processing withdrawals, IQ option is one of the fastest in the market.

The customer support team will review the request and for security reasons will make sure that you were really the person to make the request. These reviews are usually completed within just 1 working day.

If the deposit was made with a credit/debit card you may be asked for some further ID by the team to prove that you are the card owner.

However no withdrawals can be approved unless your account has been verified and reviewed! So make sure you have provided the correct documents before doing so.

The minimum amount you can withdraw starts from $2 and up. If you want to withdraw less than $2 get in touch with the customer support team for help.

The maximum amount you can withdraw daily is $1,000,000.

There are also no withdrawal fees charged by the broker.

The only time a fee might be applied is if you make a withdrawal back to your original credit or debit card that the deposit was made on.

The broker processes the withdrawal as a ‘refund’ – so only the original deposit amount can be withdrawn back onto the card.

Anything that exceeds that amount must be withdrawn to an e-wallet or by bank transfer. The bank transfer option will charge a $31 fee.

Apart from that though the withdrawal process is free from fees and easy to do. You can check the status of your withdrawal anytime by checking your ‘transactions history‘.

 

Trading CFDs on Football Teams

iq option review

Just before the beginning of the 2018 Worldcup in Russia, IQ Option introduced the possibility to trade stocks in some of the biggest football teams in the world.

All the trades are made through CFDs and can be found on the demo account and App too.

The football teams included are Manchester United, Lyon, Juventus, Borussia Dortmund, Lazio S.S.C. and A.S. Rome.

You can find this asset option in the top bar of your trading page. There you can select the product. Football has always been one of the main sports in the world, and this new product has attracted even more traders than before.

 

Cryptocurrency Trading in IQ Option

cryptocurrency trading iq option

Open a Free Trading Account

*Risk warning: Your capital might be at risk

IQ Option has been the first broker to introduce cryptocurrency trading. In 2017 when Bitcoin boomed, it was possible to invest in Bitcoin and other major cryptocurrencies on the website.

Now a trader can buy crypto through CFDs, and there is the chance to trade them with other normal currencies such as American Dollar, Euro, British Pound, Australian Dollar, Yen, etc.

There isn’t just the Bitcoin available, but also Ethereum, Litecoin, EOS, Dash, Stellar and many more.

When trading these kinds of assets, the maximum leverage is 1:5 because of their high volatility. However, the spread is on the average with the normal currencies one.

It is possible to trade cryptocurrency with real money in the trading account and also in the IQ Option demo account and App too.

An interesting offer the broker put on the market was a Token that every trader could buy to use for their daily trading activity. Or they could just hold the token for speculation and wait for it to hopefully grow in value.

Of course, if you’re not used to trading cryptocurrencies, you can always train yourself and do some tests using the demo account where all the assets are available.

 

IQ Option Education

IQ Option offers you the opportunity to learn about forex trading. This is an important education opportunity that the broker has introduced.

The offer is not structured like other brokers in the forms of Webinars, Live-Trading or E-books.

Instead it consists of building a free blog where information and strategies are shared and reviewed. This can help you to learn more about forex trading, whether you’re a beginner or not.

As well as that, don’t forget the opportunity to trade with a demo account which is great for learning.

The main topics are:

  • Trading Strategies
  • Technical Analysis
  • Indicators
  • Candlestick

All the most important topics present in trading are explained in this free educational blog.

 

IQ Option App

IQ Option is considered one of the most technologically advanced trading platforms. It’s also been one of the first brokers to launch its own mobile App with a demo account integrated.

The IQ Option App is available for Android and iOS.

We have tested the App and we can say on this review that it is the best trading App in the market.

You can download it directly from the broker’s website or from the App Store.

Having a trading App is very useful for everybody because it allows you to trade 24/7 from any place. So there’s no need to be sat all the time in front of your laptop, when you can trade with just one click on your mobile.

 

IQ Option Mobile Version

The broker IQ Option has a very good mobile version to open an account real or demo and trade with. To access the mobile version it’s just necessary to click on the green buttons on this page using a mobile device.

You can tell that you’re on the mobile version because the interface adapts perfectly to your mobile screen. Also the website URL website address has an “m” at the beginning.

Trading with the mobile version is exactly the same as trading with the web version. The real account and demo accounts are the same. The available assets and market hours are the same too.

On top of that, it offers flexibility because you can trade from any location you are and at anytime you want.

Click here to open your first IQ Option trading account.

Open a Free Trading Account

*Risk warning: Your capital might be at risk

IQ Option Contact Details

iq option support

Over the years IQ Option has grown so much, not only in Europe but internationally. As a result they’ve added many languages to their platform. This means that you can have your account available in one of the following languages:

  • English
  • German
  • Spanish
  • Italian
  • French
  • Portuguese
  • Norwegian
  • Danish
  • Indonesian
  • Chinese
  • Polish
  • Arabic
  • Hindi

In case of questions about the broker, Iq Option demo account, IQ Option App or any other topic, it’s possible to contact the helpful support service.

At the bottom of every trader account, there is a customer service phone number or a live chat available in every language. The broker also has an online help guide that covers a lot of common topics.

 

Conclusion

To sum up the IQ Option review it’s clear that this broker is perfect for different types of traders.

The fact that it’s possible to start trading just with $10 and open very small positions from $1 is great if you have a smaller trading budget to spend. Plus it’s very easy to understand how much money is involved in a single trade without the calculation of lots or mini lots.

It’s also helpful that the platform is modern and user-friendly with everything located on one trading screen, and as you have read on our IQ Option App review, this feature is the best in the market.

Finally, the opportunity to use the IQ Option demo account for free to train and build confidence with the platform makes it a good opportunity for everybody. Whether you are new to trading or an experienced trader.

Click here to open your first IQ Option trading account.

Open a Free Trading Account

*Risk warning: Your capital might be at risk

To discover more about forex trading please go here.

Or to learn more about how to do forex trading please go here.

If you’re interested in learning more about a demo account please go here.

To discover more about cryptocurrency trading please go here.

Lastly here is an review on how to choose the best forex broker for beginners, their demo account and trading App.

Here you can find the best forex trading company in South Africa.