IQ Option Review 2024


4 / 5
IQ Option is #4 in our binary options broker rankings.

IQ Option is a good broker for beginners with a slick platform and low minimum investment. New users can also open an account in three easy steps.

- Daytrading Review Team
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

IQ Option is a trusted broker with multi-asset trading on its user-friendly proprietary platform. The broker provides trading on forex, stocks, cryptos, indices, commodities and ETFs with competitive fees and a good suite of extra features and educational content. You can also open an account with just $10.

$10
Own
CFD, Forex, Crypto, Stocks, Digital Options
-
USD, EUR, GBP, ZAR
Skrill, Yandex Money, QIWI, Wire Transfer, Alipay, Perfect Money, MoneyGram, Credit Card, Vietcombank Transfer, ADVcash, Maestro, Sofort, GlobePay, Boleto

Trading App

IQ Option provide a superbly easy to use mobile app. Offering forex trading, plus some bespoke trading instruments of their own, IQ deliver a slick, secure platform for shorter term trades. Recent upgrades have also synchronised the look and feel of both the web trader and mobile platform, making switching between the two, seamless.

iOS App Rating
Android App Rating

Binary Options Trading

IQ Option is a top-rated binary options and digital trading broker. Trade on a user-friendly platform with a low starting deposit. Simply decide whether the price of an asset will go up or down to win a predetermined payout up to 90%+.

Forex Trading

IQ Option offers CFD trading on 24 forex assets, including major pairs and some minors. EU traders can access a maximum of 1:30 leverage in line with local regulations. The broker offers commission-free trades but spreads are on the high side so the brand does not excel in this area.

Stock Trading

200+ stocks are available to IQ Option traders via CFDs, meaning that the underlying equities will not be physically owned. Instead, traders can speculate on price movements with up to 1:5 leverage. IQ Option also offers useful stock collections, from the largest US companies to AI stocks and Warren Buffet's favorites.

CFD Trading

IQ Option deals primarily in CFDs, which are available on stocks, forex, cryptocurrencies and several other markets. The leverage available is in line with EU restrictions, to a maximum of 1:30 on major forex pairs but with less available on more volatile assets. Trades are commission-free with floating spreads and clients can use the award-winning platform.

Crypto Trading

IQ Option is a leading crypto broker. They offer multipliers and a huge range of digital currency markets, including Bitcoin, Ethereum, and Cardano. Leverage of up to 1:2 is available with a variable spread and no commission. Newer traders will also rate the intuitive trading software.

Awards

  • Most Trusted Broker 2017, 2018, 2019, 2020 - BinaryOptions.net
  • Best Binary Broker 2021 - DayTrading.com

✓ Pros

  • User-friendly platform for beginners
  • Excellent range of payment methods
  • Reliable 24/7 multilingual support
  • Access to IQ Option community
  • High payouts on binary options
  • iOS & Android compatible app

✗ Cons

  • €10 inactivity fee after 90 days
  • No MetaTrader 4 integration

Managed and owned by IQOption LLC which is based in Saint Vincent and the Grenadines, IQ Option is a financial services provider. They have offered online trading services for many years, and continue to expand their offering.

IQ Option also introduced margin trading. This moves them alongside the more established brokers and CFD operators.

Trading Platforms

Rather than opting for a standard trading platform, IQ Option has chosen to provide its clients with a proprietary platform designed specifically to cater to their trading needs.

The same platform is used for CFDs and for binary options trading. Well designed to be user-friendly, the platform features a large chart which is a great help for traders who wish to monitor the conditions in the markets. Margin trading is also now available with certain instruments.

In addition, the platform comes with a wide selection of trading tools that are typically not found on any binary capable trading platform. Some of the advanced trading tools that we can see popular technical indicators such as Moving averages, Bollinger Bands, MACD and RSI.

The brand often add new feature to the platform to offers traders more flexibility. One such feature is the ‘position top-up’. This allows a trader to hold a trade open if it is approaching a stop loss.

It gives the trader more scope to allow trades to recover before being closed. It must be used with discipline, but offers traders new risk management or trading strategy options.

Mobile Trading

For traders that are unable to remain at their trading terminal for any prolonged period of time, they can install the mobile trading app that has been provided free of charge by IQ Option.

The mobile trading app which has been designed specifically for smartphones and mobile devices, allows traders to check their account status, keep updated with all the developments in the market as well as to execute trades.

IQ Option Mobile trading app

Trading Accounts Offered

IQ Option offer a couple of trading account options.

To open a standard account, only a minimum deposit of $10 is required.

Potential traders who wish to try out the platform can first sign up for the demo account. It is provided free of charge and doesn’t require any “pre-deposit” like some brokers are requiring their clients to do first.

The demo account comes pre-loaded with $10000 practice money which you can use to execute your practice trades.

Bonuses & Promos

In line with general guidance in the financial industry,  IQ Option no longer offer any kind of deposit bonuses.

The only kind of promotional offer which traders at IQOption are able to participate in is the trading competition which they can join for an entrance fee. Prizes for the competition range for $100 to around $100,000.

Video Demo – Forex Introduction:

Assets At IQ Option

Currently, traders at IQ Option can trade in 300 different types of underlying assets. They consist of a selection of 120 currency pairs, market indices, stocks and commodities.

Recently, IQ Option has also added a selection of 12 different types of cryptocurrencies for its clients to trade in.

The list of markets available to trade is constantly growing. Recently, the firm expanded their list of forex pairs and company stocks and shares, taking the total beyond 200.

Expect this expansion to continue in all areas. IQ also spread markets across all products, so things like Oil, Gold and Silver were added to Digital trades asset lists.

Minimum trade sizes do change with each product.

So binaries and digital options can be opened for $1, but a Forex CFD has a minimum trade size of 0.001 lots.

Cryptocurrency Multiples

Another innovative product delivered by IQ is the Cryptocurrency Multiples. These effectively work like a leveraged trade, so price movements in the underlying assets are magnified.

IQ Option first introduced this idea with Bitcoin x2. This amplified the prices movements by 2 times, creating higher opportunity – but also higher risk – for traders.

That product was so popular, that IQ have expanded the concept to Ethereum, IOTA, Ripple and others. The multiplier factor is x2 on all available cryptocurrencies.

Trading Costs And Fees

IQ Option are transparent with their fees and costs. In order to see what trading at IQ will cost, you need to consider:

Customer Support

One of the major plus points of IQOption is their customer service.

To ensure that traders at IQOption can get the assistance they want whenever the need arises, the broker has made its support services available 24/7.

They can contact the support team through email, live chat or the telephone. For the benefit of traders whose mother tongue is not the English language, IQOption has also translated their website into a dozen different languages.

Deposit & Withdrawal

For the funding of trading accounts at IQOption, the broker has provided support for several methods of fund transfer.

These methods include transfer by credit cards, ewallets and bank wire transfer.

Accepted credit cards include VISA and Mastercard. As for the eWallet options, they include popular wallets such as Neteller, Skrill, Perfect Money and Webmoney.

To withdraw funds, traders can also use the same methods that they used for making a deposit in the first place.

Processing of withdrawal requests typically take one business day but can be as fast as a few hours if the withdrawal method is by eWallets.

For credit cards and bank wire transfer, the entire withdrawal process can take as long as 10 business days to be completed.

Growth in Asian markets has also led IQ Option to expand their reach in that region. As a result, bank transfers are now possible from a wide range of banks in this area:

Thailand – Bangkok Bank, Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, Bank of Ayudhya, Government Savings Bank, TMB Bank.
Vietnam – Vietcombank, Asia Commercial Bank, Bank for Investment and Development, Techcombank, Vietin Bank, Sacombank, Donga Bank, Eximbank.
Malaysia – Maybank, Hong Leong Bank, RHB Bank, Public Bank, CIMB Bank, AmBank
Philippines – Help2Pay – Supports both BDO (BDO Unibank) and MTB (Metrobank)

South American options are also being expanded:

Brazil – Jeton Wallet (Supporting Boleto Bancario), and AstroPay (Boleto, Itau, Bradesco, Banco do Brasil, Caixa, Santander)
Argentina – AstroPay (Supported banks; Pago Facil, Santander, Banco Galicia)

Perfect Money can also be used across South America, including Colombia. Perfect Money is actually also a valid choice across Nigeria and Pakistan too.

Jeton will also support IQ Option traders from India and a range of banks catering to South African traders have also been added.

China Union Pay can facilitate deposits and withdrawals for traders in mainland China, Hong Kong, Taiwan and Macao.

Is IQOption suitable for day trading?

One of the most important factors to consider when looking for a broker to conduct day trading with is looking at the type of instruments that are available for trading.

With IQ Option since the broker offers CFDs which allow traders to open and close their market positions at any time, it is a suitable broker for day trading.

In addition, the broker is trusted and reliable, it has millions of registered users worldwide, and this helps to ensure that your money will be handled professionally and ethically.

FAQs

What is the minimum deposit requirement to open a trading account?

The minimum deposit at IQOption is $10.

How fast can my withdrawal request be processed?

Withdrawal requests at IQOption normally take one business day but as be as short as a few hours.

Which is the best indicator at IQ Option?

IQ Option offer a huge range of technical indicators to help with strategy and finding trades.

But no single indicator is “best”. Multiple indicators (and time frames) can be assessed to try and find clear trends or market sentiment that can guide a specific trade over a specific timeframe.

Is IQOption a reliable broker?

Yes. IQOption is a reliable broker.

What kind of trading platform does IQOption have?

IQOption uses a proprietary type of trading platform.

What is the maximum leverage available at IQOption?

Traders will see leverage capped at up to 1:500.

IQ Option Awards

General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

Top 3 Alternatives to IQ Option

Compare IQ Option with the top 3 similar brokers that accept traders from your location.

  1. Deriv.com – Deriv.com is a low cost, multi-asset broker with over 2.5 million global clients. With just a $5 minimum deposit, the firm offers CFDs, multipliers and more recently accumulators, alongside proprietary synthetic products which can’t be found elsewhere. Deriv provides both its own in-house charting software and the hugely popular MetaTrader 5.
    Go to Deriv.com
  2. Dukascopy – Dukascopy is an online broker operated by a Swiss-regulated banking group. It offers a good selection of 500+ markets, with forex, stocks, gold, ETFs, indices, bonds and cryptocurrencies available. It also offers flexible trading opportunities through the choice of CFDs or binary options. Traders will use MetaTrader 4 or a proprietary platform that is well-suited to automated trading.
    Go to Dukascopy
  3. World Forex – World Forex is an offshore broker registered in St Vincent and the Grenadines, offering commission-free trading with a $1 minimum deposit and 1:1000 leverage. Digital contracts are also available, offering beginners a straightforward way to speculate on popular financial markets.
    Go to World Forex

IQ Option Comparison Table

Compare IQ Option With Similar Brokers
IQ Option Deriv.com Dukascopy World Forex
Rating 4 4.4 3.6 4
Markets CFD, Forex, Crypto, Stocks, Digital Options CFDs, Multipliers, Forex, Stocks, Indices, Commodities Forex, CFDs, indices, shares, commodities, metals, cryptocurrencies, bonds, binary options Forex, CFD Stocks, Metals, Energies, Cryptos, Digital Contracts
Demo Account Yes Yes Yes Yes
Minimum Deposit $10 $5 $100 $1
Minimum Trade 0.001 Lots 0.01 Lots 0.01 Lots 0.01 Lots
Regulators MFSA, LFSA, VFSC, BFSC FINMA, FCMC, JFSA SVGFSA
Bonus 10% Equity Bonus 100% Deposit Bonus
Education No No Yes No
Platforms Own Deriv Trader, MT5 MT4, AlgoTrader MT4, MT5
Leverage 1:500 1:1000 1:200 1:1000
Payment Methods 14 23 11 10
Visit Visit Visit Visit Visit
Review Deriv.com
Review
Dukascopy
Review
World Forex
Review

Compare Trading Instruments

Compare the markets and instruments offered by IQ Option and its competitors. Please note, some markets may only be available via CFDs or other derivatives.

Compare IQ Option Trading Instruments
IQ Option Deriv.com Dukascopy World Forex
Binary Options Yes Yes Yes Yes
Expiry Times 15 seconds to 365 days 3 minutes – 1 day 1 minute – 7 days
Ladder Options Yes Yes No No
Boundary Options Yes Yes No No
CFD Yes Yes Yes Yes
Forex Yes Yes Yes Yes
Stocks Yes Yes Yes Yes
Commodities Yes Yes Yes Yes
Oil Yes Yes Yes Yes
Gold Yes Yes No Yes
Copper No No Yes No
Silver No Yes No Yes
Corn No No No No
Crypto Yes Yes Yes Yes
Futures No No No No
Options Yes Yes No No
ETFs Yes No Yes No
Bonds No No Yes No
Warrants No No No No
Spreadbetting No No No No
Volatility Index No Yes No No

IQ Option vs Other Brokers

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Customer Reviews

  5 / 5

This average customer rating is based on 1 IQ Option customer reviews submitted by our visitors.

If you have traded with IQ Option we would really like to know about your experience - please submit your own review. Thank you.

  5

Great for day trading with a smooth user interface. Personally I think IQ Option is the best binary options broker if you want a reliable brand.

✍ Malthe | 🌐 Denmark | January 4, 2024

Submit Your Own Review of IQ Option

If you have experience trading with IQ Option please share your personal review of the broker and what you think are strong and weak points. Thank you.

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IQ Option is a trusted broker with multi-asset trading on its user-friendly proprietary platform. The broker provides trading on forex, stocks, cryptos, indices, commodities and ETFs with competitive fees and a good suite of extra features and educational content. You can also open an account with just $10.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK