IQ Option Review
- Easy and convenient method of opening an account
- Wide range of trading instruments
- No deposit fees
IQ Option Summary
However, it is considered to be one of the highest-expanding companies in the world with million of traders.
IQ Options have traders in multiple countries, all over the world. However, due to strict restrictions, IQ Option cannot access traders from Afghanistan, Albania, American Samoa, Australia, Belarus, Canada, Comoros, Crimea, Cuba, Democratic Republic of the Congo, Donetsk and Luhansk People’s Republics, Eritrea, Ethiopia, Guam, Haiti, Iran, Israel, Japan, Libya, Mali, Myanmar, North Korea, Palestine, Republic of Abkhazia, Republic of South Ossetia, Russia, South Sudan, Sudan, Syria, Transnistria, Ukraine, the United Kingdom, the USA, Vatican, and the U.S. Virgin Islands.
The trading platform and website are available in thirteen different languages, which permit clients from anywhere in the world to be able to trade in a language they prefer. IQ Option also allows traders to choose the currency they are more comfortable trading with. The selections of currencies are GBP, RUB, EUR, IDR, USD, MUR, and Yuan.
This IQ Option review is an in-depth analysis to define the assets of the broker and its online trading services.
| IQ Option Main Features | |
|---|---|
| Established in: 2013 |
Platforms: In-House Platform |
| Minimum Deposit: $10 |
Leverage: 1:1000 |
| Demo Account Available: Yes |
Inactivity Fee: Yes** |
| Deposit fee amount: 0$* |
|
Pros
- An easy and convenient method of opening an account
- Wide range of trading instruments
- No deposit fees*
Cons
- Does not provide MT4 and MT5 trading platforms
- Not available for traders in the US, Canada, Australia, Japan, and other countries
*Currency conversion might apply
**$10 per month after 90 days of inactivity
IQ Option Awards
IQ Option has won many awards, due to their stellar trading application, variety of trading instruments, and impressive trading execution.
Among the many awards they have received, the three most prestigious are: the Award of Excellence which was rewarded to them in 2017, Best Technology Application, and Best Mobile Trading Platform.
The Award of Excellence is awarded by the Academy of Interactive and Visual Arts; IQ Option received the award in 2017 because of their high standards of quality and visuals. The IQ Option application was voted as the best application in the Finance Category.
The Best Technology Application Award was granted by the Web Marketing Association, which awarded Best Technology Application to IQ Option in 2015 because of their mobile application which was impressive to say the least. The IQ Option mobile application was the leading reason for winning many awards, including the Best Mobile Trading Platform in 2015 by the IFM Awards.
Who is IQ Option
IQ Option had quite a journey to get to their significant reputation today. They were founded in 2013. They started as a small trading service provider, and ended up moving higher and higher, until they became one of the most globally-acclaimed online trading brokers. They currently have 48,091,542 active trading users, from 213 countries in the world. Their estimate of daily transactions from their active users is 1,338,793. This means that they have over 55,000+ transactions per hour, from their active users.
They currently have 48,091,542 active trading users, from 213 countries in the world.
Their estimate of daily transactions from their active users is 1,338,793. This means that they have over 55,000+ transactions per hour, from their active users.
IQ Option Fees
| IQ option | Etoro | XM | XTB | |
| Account fee | No | No | No | No |
| Inactivity fee | Yes | Yes | Yes | No |
| Deposit fee | 0$* | 0$ | 0$ | 0$ |
| Withdrawal fee | 2% (From $1 to $30) | 25$ | 0$ | 0$ |
IQ Option Deposit and Withdrawal Fees
| Deposit and Withdrawal Fees | |
|---|---|
| Deposit Fee | 0 USD* |
| Withdrawal Fee | 2% (From $1 to $30) |
| Minimum Withdrawal Limit | 2 USD |
| Minimum Deposit | 10 USD |
IQ Option Spreads
| XM | IQ option | XTB | |
|---|---|---|---|
| EURUSD benchmark fee | 0.00017 | 0.9 | 0.0001 |
| GBPUSD benchmark fee | 2.1 | 0.0003 | |
| AUDUSD benchmark fee | 0.00019 | 1.2 | 0.0002 |
| EURCHF benchmark fee | |||
| EURGBP benchmark fee | 0.0002 | 2 | 0.0004 |
Pros
- No deposit fee*
- Minimum amount withdrawal and deposit is little
- Require account verification for first deposit and withdrawal
Cons
- Time Consuming Withdrawal Process
*Currency conversion might apply
Account Opening
The VIP Account is available to clients that deposit significant amounts (the exact amount is subject to change).
Pros
- Account types available based on trading volume and experience
- Available as Demo Account
- VIP Account has personalized features
- Real Account has low minimum deposit
Cons
- The high minimum deposit for VIP Account
- Trading competitions only available for traders outside of EU
IQ Option Real Account
For live trading, IQ Option requires a minimum deposit of ten dollars and new traders can spend only ten dollars to get the live account up and running. The real account can be reached with a ten dollar investment, at a minimum, and there are no limitations when it comes to the functions of trading.
The real account offers the option that traders can participate in several trading competitions that are events on the trading platform, but for traders residing outside the EU. You can try using the Real Account through the Free Demo Account to understand how it works, without facing any significant financial loss.
Pros
- Low minimum deposit
- Low minimum investment amount
- Access to 300+ trading instruments
Cons
- Access on in-house IQ Option trading platform only
IQ Option VIP account
Under two conditions. The two conditions are as follows: The VIP Account is available to clients that deposit significant amounts (the exact amount is subject to change). It consists of the features of the Real account and personalized features; the personalized features that they provide are a personal manager at the trader’s beck and call and a monthly report on the trading records of the trader.
Pros
- Personalized features available
- Monthly report to track trading records of traders
- Suitable for traders with experience or high trading volume
Cons
- Does not access mainstream trading platforms
How to Open an IQ Option Account
STEP TWO: Start Trading!
IQ Option Affiliate program
IQ Option provides traders with an affiliate program for traders who want to enhance their income more; the program is allowing traders to gain profit by encouraging others to trade with the platform. If you decide to join the affiliate program, you will simply have to share your affiliate link. When another trader signs up with IQ Option via your link, it will be associated with your unique ID.
You will receive your rewards once the users who signed up via your link start trading on the IQ Option platform. Your profit depends on the trading activity of the client, where you can earn about 70% of the user’s profit. The Affiliate Program is an unlimited program, and the earnings are paid bi-monthly. According to IQ Option, there are 115,410 affiliates in 178 countries.
Deposit and Withdrawal
Deposits
IQ Option provides its traders various methods of deposits and withdrawals to and from the trader’s account. Traders can now use methods such as: Debit Cards (Maestro and Visa Electron), Credit Cards (Visa and MasterCard), along with electronic payments (Skrill, MoneyBookers, CashU, and Neteller).
IQ Option is able to process payments through Wire Transfer; with the current minimum amount for withdrawal is two dollars. The time it takes to process requests for withdrawal is one business day, but the local financial institution may pay for this process.
Pros
- No deposit fee*
- Low minimum deposit
- Wide range of deposit methods
- Verification needed for first deposit to ensure safety
Cons
- Lack of variety for base currencies
*Currency conversion might apply
IQ Option Deposit Options
- Credit Card\Debit Card
- Electronic Wallets
- Bank Transfer
Withdrawals
With withdrawing funds from trading accounts from IQ Option, the method traders’ use can contrast against the method of the deposit. The electronic wallet for withdrawals is similar to those for deposits. If a deposit was made through an electronic payment, then traders must withdraw funds to the same electronic account.
However, despite the method of withdrawal the trader chooses, it processes the trading order or request in the span of three business days. With bank cards and payment mediators, there may be added time in processing the request.
Pros
- Low minimum withdrawal amount required
- Different methods of withdrawal
- E-wallets process requests instantly
Cons
- Fees may be charged if withdrawing from bank
- Slow withdrawal process with bank transfer
IQ Option Withdrawal Options
- Credit Card\Debit Card
- Electronic Wallets
- Bank Transfer
Trading Platforms
To trade with IQ Option, you can download their trading platform on your desktop or mobile device, whichever software you have.
When it comes to trading platforms, IQ Option did not follow the trend of incorporating into mainstream trading platforms such as MT4 and MT5. They now have their own in-house IQ Option trading platform, which is cheap for the broker and beneficial for the trader.
However, there is a lack of options when it comes to analysis and charting. The trading platform consists of a prominent interface, and it is available online and downloadable formats. Unfortunately, the downloadable version of the software is an imitation of the web-based trading platform, with the same advantages and drawbacks.
There is the option of the charting tool that allows traders to select from various charts which is useful for detecting chart patterns. The trading platform for this brokerage firm is functional and visually pleasing, but it may not be helpful in analysis.
Web and Desktop Trading Platform
The IQ Option web trading platform, the platform is very easy to use and it is well-designed. You will find that the search functions are easy to navigate, and you will not find an issue when it comes to submitting an order. The order types on the web trading platform are the five aforementioned order types, which are also available on the mobile application.
The one thing that has caught traders by surprise is the accommodating educational resources that are found on the trading platform, where you can watch basic videos on how to use the platform.
The desktop trading platform and the web trading platform have the same features, excluding that the desktop platform is a plug-in extension and the web platform is via website.
Overall, the web trading platform of IQ Option is quite impressive and has won several awards because of its unique features and its well-designed layout.
Pros
- Easy to use structure
- Well-designed layout
- Available in 13 languages
- Various trading instruments available
Mobile Trading Platform
With IQ Option, you have the option to download their mobile application on your device so you can trade-on-the-go. You will find that there are charting tools that were available on the web trading platform on the mobile application.
You can use all aforementioned order types on the mobile application, and be able to set alerts on your device. The alerts and notifications will let you know if there are any price changes, if your price reaches its target, and keep you updated on any major relevant events.
Overall, the IQ Option trading platform has been considered a success since there are many awards rewarded to them, regarding the mobile application. Traders have praised the effort of accommodating traders who are on-the-go with its user-friendly and easy to navigate structure.
Pros
- Works on both iOS and Android
- User-friendly structure
- Alerts and notifications are available
Cons
- Only available to trade with CFDs and Options
Markets and Financial Instruments
The list of markets available to trade is growing at a constant rate is growing at a constant rate. The firm extended their list of stocks and share and took the total past over 190. They spread markets over all items like Oil, Silver and Gold were added to Digital trades asset lists.
With each product, minimum trade sizes change. This means digital options and binaries can be opened for $1, however a Forex CFD has a minimum trade size of $20.
| Over 190 Stock | 12 Cryptocurrencies |
| Over 20 ETFs | Over 30 currency pairs |
| Over 40 options | 3 Commodities |
Market Research and Trading Tools
Traders have the ability to reach several of e-books and a FAQ section that handles all of the most common questions. These training resources offer beneficial information for traders of different capabilities and experience.
Along with the training resources, the website of the broker allows clients the opportunity to reach various video tutorials, analysis methods, and how-to guidelines on the structure of the IQ Option platform.
Pros
- Educational resources available for all traders
- Visual aid available
- Interactive webinars available for more receptive responses
- Accurate FAQ section
- Variety of charting tools
Cons
- Basic topics are covered only
IQ Option Trading Tools
With IQ Option, you will find many charting tools and variety to help you while trading. The charting tools that you will have access to are: Candle Charts, Hollow Candles, Area Charts, Line Charts, and Bar Charts. These charting tools are available on the IQ Option trading platform for you to use while you’re trading.
| Trading Tools That IQ Option Offers | ||||
|---|---|---|---|---|
| News Feed | Economic Calendars | |||
| Customizable Price Alert | Traders Sentiment | |||
| Community Live Deal | ||||
Pros
- News feed is accurate with real-time events
- Customized price alerts that suit your trading needs
- Trading community to interact and discuss trading strategies
Cons
- None
The interactive Trading community allows traders to share trading ideas and even learn from one another, in regards to trading solutions and trading strategies.
IQ Option Indicators
IQ Option offers the following Indicators through its trading platform:
- Moving Averages (MAs): these indicators, such as Smooth Simple Moving Averages and Exponential Moving Averages, can offer you insights into current trends and can be used with different indicators.
- The Moving Average Convergence Divergence (MACD): this indicator provides where moving averages meet and divide.
- The Relative Strength Index (RSI): this indicator aids in finding out the strength of a current trend, and its possible reversal points. It also compares between the absolute growths of a trading asset’s price with the total price reduction.
- The Stoch or Stochastic Oscillator indicators: it is an indicator that shows the current position of a price and comparing it to the extremes from the selected period; it is a percentage that helps you define the possible reversal points.
- The Average True Range (ATR): this indicator shows the current volatility in a trading asset in the selected period, where it also determines the change rate of quotes.
- The Parabolic SAR: it is a similar indicator to MAs, but the position changes depending on the price and it moves with the combination of high acceleration.
- The Average Directional Movement Index (ADX): this indicator shows the strength of a trend before price movements take place, and it also shows any possible changes in market volatility.
- Fractal: these are series that shows the local maximum and minimum of price curves, along with the market reversal points.
- Commodity Channel Index (CCI): it measures the speed with price movements and helps traders define the forthcoming market reversals, or analyze a trend’s strength.
- The Alligator Indicator: this indicator aids in assessing market-movement in direction and helps with filtering Side-Bands.
- The Awesome Oscillator: this indicator is a visualized ratio of two Simple Moving Averages, with one fast indicator and one slow indicator. This indicator show new development.
- Bollinger Bands: these indicators show trends of a dynamic range for price changes.
- Volume Indicators: these indicators define the quantities of your chosen trading asset that were purchased and sold within a given period, showing interest.
IQ Option Orders
The Multiplier Orders are order types that permit traders to enhance their ROI, or return on investment, through a multiplier. If you have a multiplier, the price changes of your trading asset will increase by twenty-fold, fifty-fold, or 100-fold. The multiplier order will increase your profits, but you will face more financial risk in return.
The Stop-Loss Orders are order types that permit traders to define a maximum financial loss that they are willing to agree to during a trade. With Stop-Loss orders, once you reach the financial amount you specified as your maximum loss, the trade is closed in order to curb your loss.
The Take Profit Orders are order types that work in the opposite direction of the Stop-Loss order, where you can close a trade early on and gather your profit when it reaches the amount you have specified.
The Trailing Stop Orders are order types that enhance on the idea of a Stop-Loss order by fundamentally using automatic closing at a stop. Trailing Stop orders will move in accordance to the price changes, in the direction that you specified.
The Pre-Order is an order type that permits traders to go through the market only when a trading asset has reached the exact price amount specified by the trader. Once the trading asset has reached the specified price, the trade will be automatically executed, without verification.
| IQ Option Order Types | ||||
|---|---|---|---|---|
| Multiplier Orders | Stop Loss Orders | |||
| Take Profit Orders | Trailing Stop Orders | |||
| Purchase At/Pre-Order | ||||
Customer Service
Pros
- Fast response
- Relevant answers
- Available for 24/7
- Supports various languages
Cons
- No voice interaction
Means Of Communication
- Contact Form
- Live chat
Client Education
The IQ Option trading account to learn from is the Demo Account, an unlimited simulation for traders to try out the account without any financial risks. The keyword is unlimited, because it is almost unheard of for brokers to offer an unlimited Demo Account, and yet that is exactly what IQ Option provides. The Demo Account gives traders the option to trade and not worry about financial repercussions, with virtual funds up to ten thousand dollars. With the IQ Option, traders do not need to give personal information before signing into the Demo Account. With traders not providing their personal information, this helps the client to protect their privacy and helps them trust the broker.
How to Open a Demo Account
STEP ONE: Fill in your full name, address, and password for the Demo Account. You can also sign up by linking your social media to the application.
STEP TWO: Start Trading!
Conclusion
There are two types of trading accounts: the Real Account and the VIP Account, which can be simulated through their unlimited Demo Account. You will be able to use the Demo Account for an unlimited amount of time, to access virtual funds of 10,000 USD. IQ Option only provides traders with one trading platform, which is their in-house trading platform. It has a web and desktop terminal, and a mobile application. There are many methods of depositing funds and withdrawing funds, including electronic wallets. You will only need to pay a minimum deposit amount of ten dollars to deposit funds into your account and start trading with a trading amount is $1 for all the assets (options and CFDs).
