IQ Option was founded in 2013, and, since then, it has grown quite rapidly. In 2014, there were just under 1 million users with this broker. By 2020, the brand had over 40 million registered users. Additionally, trades over that time period increased 800%, with IQ Option hitting a trade volume of $290 million per month in 2020. Traders also withdrew $20.375 million from the platform in 2020.
IQ Option has also raked in the awards, including recent accolades such as:
- “Excellence In Forex Trading Platform Global” –Global Business Review (2022)
- “Best Trading Platform” –FX Daily Info (2022)
- “Fastest-Growing Online Broker in Asia” –International Business Magazine (2022)
- “Best Trading Experience” –WorldForexAward (2022)
Read on to see what this broker has to offer its clients. Traders will be impressed with the wide range of assets offered, as well as the 24/7, multilingual customer service.
IQ Option Pros & Cons
- Proprietary Platform Available
- Crypto Trading Available
- Wide Country Range Of Service
- No MetaTrader 4
Who Is IQ Option Recommended For?
IQ Option is recommended for traders of moderate to advanced experience levels who want a broker with a proprietary platform. Though the video tutorials are a great educational tool, the rest of the educational resources on IQ Option are not extensive. So, you should have at least some basic knowledge of trading before signing up with this broker. Additionally, traders who want a broker that offers a wide range of cryptocurrency will like IQ Option, as that is one of its highlights. As long as you don’t mind not using MetaTrader, IQ Option is worth taking a look at if you fall into those aforementioned categories.
- Information not disclosable due to privacy reasons.
Top IQ Option Features
- Fast-Growing Brand. IQ Option is one of the world’s fastest-growing online trading companies. Traders who want a company with some staying power in the industry will approve of this broker, as it has been around for nearly a decade. IQ Option now has around forty-million members, according to its website. This is a broker with a footprint, to say the least.
- Video Tutorials. It’s always nice to see a broker that offers at least some educational tools. Though it doesn’t have as wide a range of resources as other brokers, IQ Option still provides its traders with video tutorials that cover topics like basic information, margin trading, fundamental analysis, CFD trading, and technical analysis. There are also videos about the company itself and its history.
- Stock Collections. Trading stock has the potential to possibly be lucrative, and IQ Option bundles different collections of stock into one convenient setting. These collections include, IT & Internet Blue Chips, Big Game of Money, 10 Dividend Kings, 10 Largest U.S. Companies, Warren Buffett’s favorites, and more. There are also collections in industries such as energy, materials, industrials, consumer discretionary, and others.
- Access to Historical Quotes. IQ Option allows its traders to view historical quotes on exchange rates of financial instruments (currency pairs, etc.) over time. You can download this information, using it to test and apply different analyses and strategies.
- Tournaments. Who doesn’t love a good contest? This broker occasionally offers Online Tournaments for its traders, according to its website.
- Cryptocurrency Trading. Over the years, IQ Option has developed a reputation for being a great crypto broker with a wide range of coins. You can choose from many different digital assets, including majors and minors. These assets are an attractive option for traders who want a decentralized, if volatile, currency.
- Customer Support. IQ Option offers 24/7 customer support in over a dozen different languages. This is more expansive, in terms of hours and multilingual capabilities, than we’ve see at other brokers.
IQ Option Overview
- Type of BrokerNon-Advisory/Executionary Broker
- Regulation & LicensingInformation is not disclosable due to privacy reasons.
- Clients Accepted from170+ Countries
- Assets OfferedStocks, Forex, Crypto
- Platforms AvailableDownload, Mobile
- Mobile CompatibilityiOS, Android
- Payment Types AcceptedWire Transfer, Bank Card, Electronic Payment Systems, and crypto payment methods in some countries
IQ Option Account Types
|IQ Option Account|
|Features||Access To All Assets IQ Option Provides|
|Available Leverage||Varies Based On Asset (See Pricing Section)|
|Commission Per Trade||Varies Based On Asset|
|Decimal Pricing||Up to 5|
|Trading Instruments||Forex, Stocks, ETF, Options, Crypto|
|Min. Lot Size Per Trade||.001|
|Spreads||0.6 pips EUR/USD (Varies By Asset)|
|Swap/Rollover Free||Yes, Islamic Account Available|
|Copy Trading Support||Yes|
- IQ Option Proprietary Platform
- IQ Option App (Google and Apple)
Trading and Investment Tools
- One Click TradingYes
- Trade-off ChartsYes
- Email AlertsYes
- Mobile AlertsYes
- Stop OrderYes
- Market OrderYes
- Trailing Stop OrderYes
- OCO OrdersYes
- Limit OrderYes
- 24hr TradingYes
- Charting PackageYes
- Streaming News FeedYes
IQ Option Compliance & Regulation
Information is not disclosable due to privacy reasons.
Fees & Commissions
- Rollover Fee0.01-0.05%
- Margin Interest1.75% (America), 0.75% (Australia), 0.25% (Administrative Fee)
IQ Option Pricing
There are a few fees to note with IQ Option, including a second withdrawal fee of 2%. This applies to the second, not the first, withdrawal a client makes each month. This fee is fixed. Also, IQ Option charges 10 euro as a dormant account fee. This fee hits after ninety days of inactivity.
Finally, there is an underage account fee of 20 euro if IQ Option has to close an account because it has been verified that a citizen is not of legal age in the country in which he or she resides. The leverage that a client receives is largely based on the asset as well as where the trader lives.
Non-EU Countries & Traders Receive Leverage of up To:
- Standard Crypto CFDs: 1:10
- Forex: 1:1000
- Stock CFDs: 1:20
- Commodities: 1:150
- ETFs: 1:100
- Special Crypto CFDs: 1:100
- Stock Indices: 1:150
- Supported Languages17 Languages
- Customer Service ByIQ Option (24/7)
- Customer Service Hours24/7
- Email Response TimeWithin 24 Hours
- Telephone orders
- Personal Account ManagerYes, For VIP Clients
IQ Option Reliability & Security
According to the IQ Option blog, this broker takes the secure storing of funds seriously. Regarding reliability, IQ Option has its own platform. This platform includes features like analysis and alerts, a Trading Community, and risk management add-ons. Those who want the MetaTrader suite should go elsewhere, as IQ Option has its own platform for traders.
IQ Option User Experience
If you look at reviews from aggregate consumer sites, IQ Option has received mixed responses. Here are some of the ratings IQ Option has received, as well as their sources:
- Fotunly: 4/5
- Trade Options With Me: 1.8/10
- WikiFX: 1.9/10
- Google Play: 4.5/5 (App Rating)
- UpSkillsWise: 4.2/5
- SAShares: 4.5/5
- Binary Options: 5/5
- FX Scouts: 3.4/5
- Tech Radar: 4/5
Final Thoughts on IQ Option
Overall, IQ Option is a solid broker. Its highlights include cryptocurrency offerings, a proprietary platform, and 24/7 multilingual customer service. This broker has longevity in the industry of around a decade. With forty million registered users and counting, IQ Option must be doing something right.
IQ Option FAQs
Q: How much can you withdraw with the IQ Option?
A: This broker allows you to withdraw up to $1 million in your earnings, though it’s unlikely traders will wait that long before deciding to withdraw.
Q: Are there withdrawal fees?
A: Though your bank or payment service might charge a fee, IQ Option processes your preferred method within a working day. There are no charges or withdrawal fees for this broker.
Q: How do I sign up?
A: Go to https://iqoption.com . Click the right-hand orange “SIGN UP” button and fill out the required information to start an account with this broker.
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