IQ Option Broker Review – The Facts in 2020

Overview

IQ Option was founded in 2013 and quickly became one of the world’s fastest growing online trading platforms. The IQ Option platform is built for its speed and usability, its trading platform reflects these strengths.

IQ Option Broker Review
IQ Option Review

First, a promise — Instant access to investing, anytime and anywhere. It is then followed by two unique selling points, demo account and a minimum deposit amount, that are essentially what makes IQ Option platform accessible.

To give users a sneak peek of what it offers, they added a list of assets, trading tools and reasons to choose IQ Option. Next, IQ Option have testimonials from clients who have already joined their trading community.

Regulation

Established in 2013, IQ-option is licensed and regulated by Cyprus Securities and Exchange Commission (CySEC) with License no. 247/14. A significant number of overseas retail forex brokers and binary options brokers have obtained registration from CySEC. This regulatory body has implemented sweeping changes to both the registration and regulation processes of all registered entities. Changes include more transparency regarding existing listed entities, tougher fines, Broker suspensions and license revoking.

Tradable Assets

IQ Option boasts of 300+ assets to trade and a wide range of Contracts for Difference (CFDs) and Options on its platform to explore as a newbie trader or as a professional.

Contracts for Difference (CFDs)

  • Currency Pairs
  • Stocks
  • Commodities
  • Cryptocurrencies
  • ETFs

Options

  • Binary and Digital

Minimum deposit

With a minimum deposit of $10, you can start trading on IQ Option making it very accessible to all classes of traders. With an easy deposit and withdrawal process, funds are credited to your account in 24 hours.

Types of trading accounts

IQ Option offers 3 major trading account types for every class of trader.

  • Demo account
  • Live account
  • VIP account

Demo account

With $10,000 reloadable demo, you can practice for free and deposit into your live account when you are ready. IQ Option’s demo account possesses features of its live account. CFDs and Options can be practiced with on the demo account with all functionalities as the real account. IQ Option platform prepares both a Demo and a Real account for the user to trade.

All new traders start with a demo account automatically. No credit cards are required to create a demo account.

Live account

Live account offers over 300+ assets for trading with a fully functional MT4 platform for an ultimate trading experience. Deposits and withdrawals are processed within minutes of execution to your e-wallet and then to your bank account with your preferred payment method. Live accounts are privy to weekly tournaments and have access to live chat support, real time.

When you feel confident to take on the real market, it only takes a few steps to create a live account. It’s advised to start trading with small sums to test the waters. Create a real IQ Option account.

VIP account

Get the VIP status with higher profit rates of 3% with a VIP account. This class of traders have access to personal account managers. To be eligible for the VIP status, your deposit > $3000. However, all classes of account have access to support services, but the VIPs get the extra attention and other trading perks.

Languages

IQ Option offers 22 languages, English, French, Spanish, German, Arabic, Portuguese, Zulu, Vietnamese, Thai, Malay, Indonesian, Chinese and more.

Currency pairs

29 new currency pairs are now tradable on the demo and real account in IQ Option platform with EUR/USD, GBP/USD, USD/JPY, EUR/JPY and AUD/NZD as the popular currency pairs.

NZD/HUFUSD/HRK
USD/CZKAUD/HKD
NZD/CHFEUR/CZK
ZAR/JPYEUR/HUF
AUD/HUFUSD/DKK
GBP/HUFNZD/HKD
TRY/ZARSGD/CHF
USD/HUFUSD/HKD
CHF/HKDUSD/SAR
CAD/HKDUSD/THB
CAD/SGDEUR/RUB
AUD/NZDPLN/JPY
USD/CNHGBP/HKD
CHF/HUFCAD/SEK
USD/RON***

Max Leverage & Spread

Deposit & Withdrawal

Deposit and withdrawal methods are 100% secured over IQ Option’s SSL secure certificate. Payment methods on IQ Option include:

  • VISA
  • Mastercard
  • PayPal
  • Skrill Money Brokers
  • QIWI
  • Neteller
  • Bitcoin
  • Web Money
  • WeChat Pay
  • Advcash
  • Perfect Money

Trading Platforms

The IQ Option has a well-developed web trading platform it developed for its traders. It uses Meta-Trader 4 (MT4) to execute CFDs and Option trades. It is known as very responsive when trading forex. If mobile trading is your thing, the app is equally effective with virtually all trading features just like the web version.

Technical analysis

Determining entry and exit points. Forecasting trend reversals. Risk management and Bollinger bands, IQ Option has a wide range of tools for technical analysis.

Personal account manager

All classes of account have access to IQ Option support services. However, the VIPs are entitled to a personal account manager. To qualify for a personal account manager, your deposit size for a VIP account > $3000. VIPs have free access to periodic tournaments. With this, your profit rate is higher than other traders amongst other perks exclusive to this category.

Training and Education

IQ Option delights in the development of its traders. On the platform, you can find tutorials about how to read the economic calendar, trade the news, analyze financial markets. Videos and newsletters are frequently up to date for market analysis. The Blog is also functional with a healthy following.

Forex trading signals

This is a good choice for a beginner who wants to minimize risks and profit alongside. Signals are a very effective tool that allows you to earn for your plus. Many traders think that free IQ Option free signals will take away the need for proper technical analysis, but that thought could be misleading.

Trading signals can be used as an independent tool without the need for fundamental and technical analysis. But every trader should understand that signals are programs and are not 100% accurate.

Social trading

Not well developed compared to eToro…But IQ Option offers a healthy social community where ideas are discussed.

Pros & Cons

PROS

  • Easy access to trading with minimum of $10.
  • Over 300+ tradable assets.
  • 12 cryptocurrency options available to traders.
  • Demo trading account and real money account.
  • Trading software, Meta Trader 4.
  • Wide range of payment and withdrawal methods.
  • Tight spread and high leverage.
  • Fully regulated by CySEC and other authorities.
  • Broad video tutorials, charts, trading advice, and interactive content.
  • Responsive customer support 24/7.

CONS

  • Weak or no social trading support
  • Platform can be a little sluggish when trading cryptocurrencies
  • IQ Option is limited to traders from fully regulated countries (no traders from USA, Canada, Japan, Israel and several other countries)

IQ Option Broker Review

9.2

Minimum Deposit of $10

10.0/10

Max Leverage & Spread

9.0/10

Payment and Withdrawals

10.0/10

Trading Software - MT4

9.0/10

Customer Service

8.0/10

Pros

  • Easy access to trading with minimum of $10
  • Over 300+ tradable assets.
  • 12 cryptocurrency options available to traders.
  • Tight spread and high leverage.
  • Fully regulated by CySEC and other authorities.

Cons

  • Weak or no social trading support
  • Platform sluggish when trading cryptocurrencies
  • IQ Option is limited to traders from fully regulated countries
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