IQ Option full review - TopForex.Trade

IQ Option

IQ Option has been there for almost a decade, providing access to anything from binary options to Forex trading and CFDs on cryptocurrencies, with leverages as high as 1:1000 and the minimum deposit as low as $10.

Numbers of instruments
400+
Regulated by
CySEC
Overall
95
Comissions & fees
97
Licensing & safety
94
Platforms & tools
95

IQ Option

Reliable, Effective, Clear

IQ Option has been active since 2013. They’ve managed to earn a very positive reputation across the globe, especially in Latin America. So far, it may be mentioned as the absolute winner in Brazil and a Top-5-winner in Latin America and Asia.

In the meantime, CySEC’s license gives IQ Option recognition in Europe, too.

This broker offers a very interesting asset menu that includes cryptocurrency CFDs. On top of that, this sector lists more than 30 cryptocurrencies to trade which gives IQ Option a formidable advantage ahead of its peers.

Licensing and regulation by the official international financial authorities mean it may be a safe broker to trade with, and a selection of trading platforms makes it user-oriented, too.

Active Worldwide since 2013
CySEC’s license
400+ trading instruments
30+ Cryptocurrencies
Leverage up to 1:1000
Large variety of payment methods
Withdrawal within one business day and no minimum withdrawal amount

Binary Options

One of the primary services IQ Option offers to users is binary options which are only available to non-EU citizens due to European Union financial regulations.

The trade mechanism is quite straightforward: traders have to make a correct prediction about an asset price direction over a predetermined period. Essentially, all one has to do is choose “up” or “down”, and if this is where the price goes by the time the period ends, the trader wins.

With IQ Option, the minimum investment to be made to access binary options of $10. The period may be set from one minute to one month, and the potential return may be as high as 95% on a correct prediction. In addition to that, IQ Option doesn’t charge brokerage fees on this service.

Forex instruments

IQ Option forex instruments for traders

Straightaway on its corporate webpage, IQ Options shows to its customers the total list of more than 400 trading instruments that consists of Forex, Stocks, Crypto, Commodities, and ETFs:

  • Forex includes 25 pairs available under leverage up to 1:1000 and a minimum investment of $10.
  • Stock CFDs list 180 instruments (which is a very impressive menu for stocks compared to most competitors in the global market), with leverage 1:20 and $10 of minimum investment.
  • Commodities include metals (gold and silver) and energies (WTI and Brent crude oil), with the same minimum investment and leverage up to 1:100.
  • There are 23 ETFs (once again, a very rich menu against the competitors) with conditions similar to the stock CFDs.

One of the crucial advantages of Forex trading is that unlike binary options, it is available in the EU, and it has earned the trust of a multi-million trader community across the globe as it is considered generally more predictable and financially safe.

Cryptocurrencies

IQ Option’s digital assets menu includes 35 cryptocurrency CFDs – that is considerably more than most of what competitors offer.

While Bitcoin CFD is provided at the leverage as high as 1:100, Ethereum is available at 1:50, and most other cryptocurrencies including Ripple and Litecoin trade at 1:20.

Deposits and withdrawals

IQ Option deposits and withdrawals options

Users may deposit and withdraw their funds through a variety of numerous payment methods that include bank and card transfers, UPI, RuPay, GlobePay, Skrill, Neteller, and others.

Some of those methods are rarely used by IQ Option’s competitors, which makes this list another advantage in favor of this online trading broker.

Trading environment

IQ Option online trading tournaments

IQ Option did its best to make the process of trading as engaging as possible.

Tournaments. These are online trading contests that normally require an entrance fee of a few dollars, span anything from several days to an entire month, and reward winners with prizes as big as $50,000. Tournaments are only available to non-residents of the EU.

Stock Collections. This is a very useful and interesting feature that suggests to traders various stock portfolios to assemble. It may be Warren Buffett’s favorites, top dividend kings, or AI-related public companies. In total, there are 15 stock collections, and they seem very attractive to choose from.

Of course, the traditional news feed and market analytics are provided as well, in line with the economic calendar and educational tools to equip traders with market knowledge.

Above all, IQ Option’s 24/7 customer service supports 16 languages so most traders will find assistance in their native language any time and day.

Trading platform

IQ Option trading application

IQ Option’s trading terminal is available on desktop for Windows/MacOC, as mobile version iOS/Android, and through the web.

Also, it allows practicing through an impressive free Demo account with a virtual fortune of $10,000 (refillable up to $1,000,000 per day) to hone your skills.

All the side services to the platform such as the market research tools, analytics, indicators, and access to the IQ Option traders community are provided by the broker as a due diligence.

Summary

IQ Option may be an excellent choice for traders who want access to all sides of online trading, such as binary options, Forex, and crypto. Moreover, IQ Option may be a safe broker to go with: in addition to the general European regulatory authority CySEC, it has a strong footing in particular European countries as their respective financial institutions regulate it, too. Therefore, IQ Option may be an all-inclusive and reliable choice for anyone who wants to have a one-window entry into the world of online trading.

IQ Option overall scores

In this review, you can find all the information you need to decide whether IQ Option is the right broker for you. Our expert team has thoroughly explored the broker, using a tested methodology and scoring system. This process places importance on the things we know matter most to traders. Below you can see how IQ Option scored in each of our high-priority categories

Overall
95 points
Comissions & fees
97 points
Licensing & safety
94 points
Platforms & tools
95 points
Instrument
Number
Forex pairs
Stock CFDs
ETFs
Commodities
25
180
23
5

IQ Option fees and commissions

Deposit: free of charge

Withdrawal: $5 with the minimal withdrawal of $30

Inactivity (90 days without a single trade): $10/month

Conversion: from 50 pips

Stock trading: no rollover fees, no commissions

Crypto trading: spreads from 0.75% to 2.5% for most coins

CFD trading: currencies – from 1 pip; commodities – from 2 pips; indices – from 100 pips; stocks and ETFs – 0.09$; crypto – from 0.75%

Pros
Cons
Both binary options and Forex trading
Withdrawal within one business day
Engaging trader tournaments
Well trusted in Latin America, Africa, and Asia
Superior Demo account conditions
No minimum withdrawal amount
Tutorial videos for beginners
No service in the US and a number of other countries
Binary options not available in the EU