IQ Option Forex Broker Broker Review

Justin Freeman

Broker Information

  • Company Name: IQ Option
  • Founded: 2013
  • Country: Cyprus
  • Phone: +13468009001

Platform Info

  • Platform: IQ Option
  • Web Based: Yes
  • Mobile Trading: Yes

Broker Services

  • Regulators: CySEC
  • Minimum Deposit: 50 Euros
  • Leverage: 1:30
  • US Clients: No
  • Funding Methods: Bank Cards, Credit Cards, AstroPay, Webmoney, Skrill, Neteller and others depending on the GEOs
  • Pairs Offered: 20+

Is IQ Option a safe broker?

YES
Our experts have assessed this broker and confirmed that IQ Option is a safe broker.
👍 Pros
👎 Cons
Very well regulated No MT4 or MT5
good range of CFDs Could offer more forex pairs

71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money.

iq options 101 indicators

Expert Summary

IQ Option is a multi-functional trading platform that provides its users with a wide selection of tools for trading.

Founded in 2013 and managed by IQ option Ltd, based in Cyprus and regulated by CySec, it welcomes traders from more than 210 countries, with the exception of users from the USA, Afghanistan, Albania, Australia, Belarus, Belgium, Canada, the Czech Republic, Iran, Israel, Japan, Latvia, North Korea, Palestine, Portugal, Russia, Spain, Switzerland, Syria, Ukraine, and the UK.

Rating Overview

Feature
IQ Option
Overall rating 4.3 ⭐⭐⭐⭐
Regulation 5 ⭐⭐⭐⭐⭐
Fees 4 ⭐⭐⭐⭐
Range of Markets 4 ⭐⭐⭐⭐
Platforms 3 ⭐⭐⭐

Registration will take no more than three minutes, you need to go to the site and fill out the registration form, IQ option also offers its customers to register using Facebook, Google. After entering your details and creating a password, you can continue.

After that, the client can immediately use a demo account or replenish a real account before moving on to real trading.

IQ Option now allows its customers to trade CFDs on stocks, cryptocurrencies, ETFs and forex. Since the beginning of its activity, the company has significantly expanded the range of tools offered.

The company offers its customers two account options:

• Standard account: minimum deposit of 50 Euros. Offers access to over 240 trading assets. Twenty-four hours withdrawal processing is also available with a basic account. Clients outside the EU gain access to various trading competitions that are regularly held on the platform.

• Training Demo: available to all traders Institutional and professional traders – Contact Customer Service directly.

The company’s website also provides several short educational videos on how to use the platform, which can help in obtaining necessary knowledge.

Also, new customers can test their strength on a demo account for free.

IQ Option provides its customers with its own platform specifically designed to meet their trading needs.

IQ Option also offers customers the opportunity to trade via a mobile application. The mobile application runs on the Android and Apple iOS operating systems. It is available for download through the Apple Store or on Google Play.

Over the last few years, IQ Option has diversified its product-selection. The brokerage has focused its offerings in forex trading, CFDs, ETFs and crypto currencies, and has grown its customer base to over 90 million traders.

IQ Option were always known in the trading community for their accessibility and their attractive trading conditions, traits that they have managed to retain to this day. Even back when most of their peers required minimum deposits of $200-$500, they now offer accounts for as little as 50 Euros. The spreads on their forex and CFD products are some of the best in the trading industry, to this day.

With the above in mind, it is not exactly surprising that the brokerage grew by leaps and bounds. From about 950,000 accounts in 2014, IQ Option have grown to more than 90 million accounts in 2022.

Perhaps the most spectacular metric regarding the growth of IQ Option is the geographic coverage of the operation. From a handful of countries in 2014, the services of the brokerage are now available in no fewer than 178 countries.

iq option trade stocks

71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

The IQ Option Trading Platform

Unlike most of their industry peers, IQ Option have not jumped onboard a mainstream trading platform such as MT4. They still have their own, in-house developed platform, which is doing a rather good job trading mechanics-wise, though it does indeed lack a little in the analysis/charting options department.

The trading platform features an attractive interface, and it is available in web-based as well as downloadable formats. Unfortunately, the downloadable version of the software is in essence a replica of the web-based trading platform, with the same features and shortcomings.

That said, trading through the IQ Option platform is in fact quite enjoyable. The charts are visually pleasing and one can indeed trade directly from the charts. Different time frames can be applied and no fewer than 9 charts can be displayed at the same time.

Compare IQ Option with other approved brokers

Broker Comparison Table
  IQ Option FXTM BlackBull Markets Plus500
RegulationCySECFCS, CySEC, FSCFSPRFCA, CySEC, ASIC, FSA
Customer Supportemail, phone,email, phone, live chatemail, phone, live chatemail, phone, live chat
Trading PlatformsWebTrader, Mobile AppsMT4, MT5MT4, MT5, WebTrader, Mobile Appsdesktop and mobile via brokers own platform
Minimum Deposit50 Euros$10$200100GBP/AUD/EUR/USD
Leverage1:30Flexible1:5001:30 (1:300 Plus500AU Pty Ltd)
Total Markets400+2521821896
Total Currency Pairs20+627261
Total Cryptocurrencies134019

In addition to the features focused on the actual opening/closing of positions, the IQ Option platform offers an overview of one’s open positions, as well as a Trading History section. There’s a Chat and Blogs section featured too, which is where the social side of the brokerage comes into play.

Through the trading interface, IQ Option clients can also access an impressive number of video tutorials, detailing various analysis methods and offering tips on the inner workings of the platform itself.

The charting tool selection lets traders choose from Area Charts, Line Charts, Candle Charts and Bar Charts. These are obviously useful for the spotting of various chart patterns. To this end, a number of graphical tools are provided too. These include the Fibonacci Lines, Trend lines, horizontal lines and the simple line. A total of 12 technical indicators are available (and it is probably not up to traders to install more). These include the Bollinger bands, the MACD, the MA, the RSI, the Parabolic SAR and obviously, the Stochastic Oscillator.

As an IQ Option trader, you should bear in mind though that many of the “classic” technical analysis methods simply do not work in the cryptocurrency vertical, as this new asset-class has a way of its own of evolving its prices.

The bottom line regarding the platform is that while it may not be on the cutting edge charting- and analysis-wise, it offers traders a very attractive and functional way to go about their business and to interact with the community.

iq option platform

IQ Option Trading Products

At this time, IQ Option offers customers access to over 30 currency pairs, over 190 stocks (CFD) and over 20 ETFs. There’s a separate section for the Crypto CFDs, which features 12 assets. Most of the top market-cap cryptocurrencies are supported, starting with Bitcoin and Bitcoin Cash, and wrapping up with IOTA, Dash and Monero.

The CFD section is mostly focused on cryptocurrencies as well. While in the crypto sections, all virtual currencies are paired with the US, in the CFD section, crypto/crypto pairs, like LTC/BTC and ETH/BTC are available as well.

The forex product category is the largest of the broker. It features 30 currency pairs, from the most traded, right down to exotics.

IQ Option Regulation and Safety

Yes, IQ Option have always been regulated. They acquired their CySEC license back in 2014. Their license number is 247/14. What all this means is that the operation has been considered MiFID compliant. That makes it clear that IQ Option are free to peddle their financial services to several countries in the EEA (European Economic Area).

71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you can afford to take the high risk of losing your money

Trading Tools IQ Option Trading Platform

Besides the trading tools that can be accessed directly from the trading platform, as detailed above, IQ Option have apparently also attempted to provide their clients with a sort of economic news section, meant to highlight trading opportunities. The reason we’re calling this a mere “attempt” is that this news section does not appear to be properly and regularly updated.

The sub-section dealing with cryptocurrencies is the most up-to-date one, once again underlining the operator’s focus on this new financial vehicle.

IQ Option Customer Support

IQ Option support can be reached through a plethora of toll-free regional phone numbers. The IQ Option headquarters are located at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus. The general support email is [email protected], and current contact information can be found on the company’s website.

IQ Option Review Conclusion

IQ Option is a top destination for the trading of cryptocurrency based CFDs as well as forex. The trading conditions are outstanding on all their products.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Justin Freeman

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