IQ Option review
Brokers available in Malta
Discover a broker you can trust by reading our in-depth and honest reviews, created by industry experts. Since 2015, we’ve reviewed over 200 forex brokers.
|Cryptocurrencies, Forex, Stocks, Options|
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
IQ Option Account Overview
It is becoming exceedingly difficult for companies to turn a profit in the ever-competitive binary options industry. The negative image of binary options trading is also not doing the market any favours, as several countries are looking to ban the concept of binary options trading entirely. Some countries have come out in the open by terming binary options trading as an illegal activity, while others have termed it as just another form of gambling and sports betting.
IQ Option was initially a dedicated binary options brokerage, but the company has slowly moved into the CFD trading business model, all the while keeping binary options trading as an option for retail traders. It is not easy for a broker to switch its business in a short span of time, but there have been cases where successful binary options brokers had made a successful transition to the Forex and CFD trading business.
Nevertheless, IQ Option still provides a highly reliable binary options service, and traders are assured of the complete safety of funds. In order to get a better idea of the products, read our professional IQ Option binary options review until the very end!
IQ Option Regulatory Information
IQ Option has managed to deliver some impressive numbers since its launch in 2013. IQ Option is home to more than 14 million accounts worldwide, which ensures that there is an average daily transaction of around three million trades. The incredible rise of IQ Option as a trusted binary options broker results from the broker’s regulatory status and the years of hard work that goes behind building up a world-class financial company. In that regard, IQ Option regulation is a critical component of the continued success story, which also gives traders a sense of security while dealing with the broker.
IQ Option is regulated by the CySEC (Cyprus Securities and Exchanges Commission) for its European operations, which grants access to the entire European Union, aside from some EU members that have banned binary options trading for their citizens. IQ Option is regulated as per the same regulatory standards that are reserved for other financial companies such as Forex brokers, which helps IQ Option to offer FX and CFD products along with their basic binary options products. The CySEC is European MiFID (Markets in Financial Instruments Derivatives) compliant and regulates IQ Option to the best EU regulatory standards.
A CySEC license helps traders to ensure the safety of their investments through several investor protection policies, which include the Investor Compensation Fund, routine third-party audits, and complete financial transparency. However, due to the constraints put forward by CySEC on brokers that cater to a global audience, IQ Option has also set up an independent global arm of its brokerage in the Seychelles, which is not as advanced or safe as the European Union. Regardless, IQ Option does manage to offer a uniform set of services through its binary options trading platform for all of its account holders.
IQ Option Assets & Binary Options
IQ Option used to be one of the inferior brokers in the market as far as binary options assets were concerned, as the broker had only offered around 70 different instruments from the global financial markets. However, the company had promised its users of increasing the number of available products to more than 10,000, and it is exactly what the company did in the preceding days. Today, IQ Option offers access to Forex, Stocks, ETFs, and options, taking the total count to more than 7000 CFDs and over 10 million digital options. Here is a short run-down on the major instruments covered by IQ Option:
- Forex: IQ Option offers 188 different currency pairs as both binary options and CFDs, where traders can either choose to bet on the movement of the currency pair (call and put) or trade with a maximum leverage of 1:1000. The most popular Forex currency pairs include: CAD/CHF, EUR/AUD, GBP/AUD, AUD/JPY, GBP/CAD, GBP/CHF, EUR/CAD, USD/CAD, CHF/JPY, AUD/USD, EUR/USD, EUR/GBP, USD/CHF, EUR/JPY, NZD/USD, GBP/USD, EUR/RUB, USD/RUB, GBP/JPY, USD/NOK, USD/JPY, AUD/CAD, EUR/NZD, USD/SEK, and USD/TRY.
- Cryptocurrencies: Cryptocurrencies are the hottest investment products in the market at present, and IQ Option has added around 12 different cryptocurrencies to its asset portfolio. The available cryptocurrencies include Bitcoin, Ethereum, Ripple, Litecoin, and Dash. Do note, however, that your access to cryptocurrency CFDs at IQ Option may be restricted due to local regulations.
- Stocks: IQ Options may not be a popular choice of broker for stocks, as the company only offers a comparatively lower number of around 390 stocks. Of course, 390 different stock assets is a lot better than most brokers, but it would have been better if the company also offered global stocks from other parts of the world. However, traders can trade with some of the highest margins, as the IQ Option leverage for stocks can reach as high as 1:50. Some of the popular shares include Twitter, Alibaba, Yandex, Baidu, Apple, Cisco Systems, Facebook, Google, Intel, Microsoft, Snap Inc., Oath, AIG, Amazon, Tesla, Nintendo, CitiGroup, Goldman Sachs, Coca Cola, JP Morgan Chase, McDonalds, Morgan Stanley, and Nike.
IQ Option is also in the process of adding around 4800 ETFs to the already impressive collection of assets, which is good news for traders. The sheer range of assets should satisfy even the most demanding trader and is an excellent choice for professional investors who wish to dabble in both binary options and CFD trading.
IQ Option Binary Payouts & Fees
IQ Option is divided into two different trading models, one that deals with FX and CFD trading, while the other deals with digital options. Obviously, the Forex and CFD products have several costs of trading such as spreads and commissions. However, the binary options aspect of the company’s services do not charge any fees, but the broker may charge ancillary fees such as account dormant fees, cost of services, and deposit/withdrawal fees.
IQ Option is also highly competitive when it comes to payouts, with the maximum payout of 92% offered on select digital options (*amount to be credited to the account for a successful trade). The average of 90% ROI for digital options are indeed more substantial than the payouts offered by other conventional brokers, but the absence of high-yield options is a deliberate attempt by the company to deter high-risk traders. Therefore, IQ Option may not be suitable for risky trading strategies, but for the average trader, the classic digital options should provide a reliable trading environment.
IQ Option also makes it relatively easy for retail traders to minimise their capital outflow with a minimum investment of just $1 per trade. The maximum investment is too limited to $5000 per position, but such higher limits only apply for binary options. All other FX and CFD products have varying investment levels, as determined by the broker’s minimum margin requirements. If you are a binary options trader, especially during your beginning stages of your trading career, never invest more than you can afford, and try to use sound money management principles. Investing the maximum of $5000 per position can yield high returns, but a losing trade will also result in a significant loss. IQ Option does not pay any returns or cashbacks on losing trades.
IQ Option Trading Interface
IQ Option has been tweaking its online trading interface to incorporate all the new financial products that were recently introduced by the company. IQ Option had the foresight to develop their own proprietary installable interface, unlike other binary options brokers, who are more content with using a WebTrader as the primary binary options trading platform. The IQ Option platform is developed for most leading operating systems, including Windows, MacOS, and Ubuntu. The Windows and MacOS platforms are fully operational, while the Ubuntu platform is still in its beta phase.
The IQ Option binary options platform for desktop is slightly more resource-intensive than one would expect, which requires a fairly competitive desktop or laptop configuration. If you are a serious trader, you should make it a priority to invest in a reliable and high-performing system, in order to stay abreast of the market and reduce any drop in performance while trading.
IQ Option Mobile Trading Platforms
IQ Option mobile apps are only available for Android and iOS devices, which are available for free from the Google Play Store and the Apple App Store. The IQ Option mobile platforms are designed to offer similar trading performance and reliability as the more accomplished third-party mobile trading platforms, but we have seen a few glitches, especially while choosing the broker’s new assets. Since IQ Option is committed to their traders’ cause, we do anticipate the company to iron out any issues in the near future. However, we did miss out on a Web-Browser trading interface, which could have helped the broker to offer a complete online trading environment for those who require it.
Account Funding & IQ Option Minimum Deposit
Funding your IQ Option account is easy, secure, and convenient. With several deposit methods such as Visa, MasterCard, WebMoney, Skrill, and Neteller, deposits are instantaneous. The company has also managed to bring down its withdrawal time to 24 hours and processes around $6 million in withdrawals every month. Being regulated by CySEC also gives unparalleled security for traders, by ensuring that all deposits are held in segregated bank accounts.
IQ Option is quite an inexpensive binary options broker that offers a trading account for just $10 as the initial investment. The $10 minimum deposit requirement actually opens up the broker’s services to a large number of traders, particularly those that are starting out in the market. What impresses us the most is that despite having a regulated service and trader-friendly products, the broker still manages to stipulate a low minimum withdrawal limit that allows traders to withdraw as low as $2 at a time. Of course, IQ Option does not cover the fees for transfers, which may require traders to time their withdrawals such that they don’t incur unnecessary fees while withdrawing.
IQ Option Bonus & Promotions
IQ Option is silent about its bonus programs, which is an aftermath of the recent clampdown on promotional activities by some of the major regulators in the EU. Traders may not be especially satisfied with IQ Option’s no-bonus policy, but there are a few advantages of turning down a bonus offer from a broker. For instance, bonuses are not as lucrative as one might expect, as there may be several trading conditions that impose restrictions on how traders may approach their own invested funds.
Regardless, mainstream Forex and CFD brokers always provide alternatives to bonuses in the form of cashback and loyalty programs. IQ Option is still a new broker in the Forex and CFD industry, which means that traders cannot expect the company to provide any volume-based rebates or loyalty programs. Hence, it wouldn’t be wise to choose IQ Option for your trading needs, particularly if you are seeking a hefty bonus for your investment.
IQ Option Demo
IQ Option is an excellent company for the most part, which is why they are one of the very few binary options brokers that provide access to a free and unlimited demo account. Obviously, the broker’s foray into the FX and CFD brokerage market has mandated the need for a demo account, but traders will benefit from the availability of a free demo.
IQ Option Customer Support
IQ Option has an impressive customer service department that offers instant support through an ever-expanding team of more than 40 specialists located across the world. The broker offers its primary support through a live chat that has an incredible response time of 40 seconds, while all complaints and tickets are resolved well within half an hour. IQ Option does not prolong its response to clients, as the broker is fully aware of maintaining high-quality standards for its customer support department.
IQ Option Resources
IQ Option does not have a proactive resource that covers market research, technical/fundamental analysis, or economic commentary, which we have come to expect from leading brokerages in the market. In reality, IQ Option has chosen the safest route to avoid any conflict with its traders, and are content with providing a detailed tutorial program that offers short videos and information on binary options and FX/CFD trading in general. In spite of the shortcomings, IQ Option does provide a reasonably reliable tutorial section that concentrates on educating the trader about all the fundamentals of binary options trading, including the availability of a free demo account. As a result, we can’t find any faults with the company’s services, as traders can always get the latest information about the markets through third-party online resources.
IQ Option Verdict
• A regulated binary options broker that is located in the EU.
• Also offers FX & CFD trading alongside binary options.
• An award-winning company that concentrates on client satisfaction.
• Instant deposits and withdrawals.
• Minimum investment starts from $10.
• Offers a proprietary trading interface that is compatible with both desktop and mobile devices.
• The reliability of the trading platform is not at par with the competition.
• IQ Option does not provide a bonus.
• The absence of market research and other trading resources.
What Is The Minimum/Maximum Position Size?
The minimum investment per position is $1, while the maximum position size is $5,000 for binary options.
How Do I Trade With IQ Option Mobile Apps?
Traders can download the IQ Option apps from the Google Play Store and the Apple App store. The IQ Option mobile platform is compatible with most smartphones and tablets running on iOS and Android.
Are My Funds Secure?
IQ Option moves every clients’ investments to segregated accounts, and EU traders are further protected by the compensation schemes as applicable in their country.
Which Service Should I Choose?
IQ Option offers the convenience of trading both digital options, as well as FX/CFD products. It is up to the trader to choose their preferred product.
Risk Warning – Your capital is at risk. Trade with caution, these products might not be suitable for everyone so make sure you understand the risks involved!
Find Your Broker We helped new traders to find their path.
Compare broker See what benefits one offers over the other.
Learn Trading financial markets has never been easier.