IQ Option Review

IQ Option Overview

Managed and owned by IQ Options Europe Ltd, IQ Option is a financial services provider . They have offered online trading services for many years, and continue to expand their offering.

During 2020, IQ Option also introduced margin trading. This moves them alongside the more established brokers and CFD operators in Europe and beyond.

For traders that are outside the EEA, their accounts are managed by a separate sister company called IQ Option LLC. The company is based in Saint Vincent and the Grenadines.

Regulation & Reputation

Regulations are the most important aspect to look at when looking at brokers. Without regulations, a broker isn’t trustworthy at all.

The good news is that IQ Option is regulated. But the bad news is that they are regulated and licensed by CySEC. CySEC is a regulator based in Cyprus and therefore, this regulation isn’t really trustworthy.

Good legitimate brokers are usually regulated by trustworthy regulatory firms like the SEC or FINRA.

Account Types

IQ Option makes 2 live trading account types available, IQ Option Real and IQ Option VIP.  The minimum deposit required to open an IQ Option Account is $10 USD.

IQ Option Real Account

The IQ Option Real Account offers traders a full trading experience with a minimum deposit of $10 USD.  Users will have access to over 300 assets for trade and full access to their risk-free demo account.

IQ Option VIP Account

The IQ Option VIP Account offers investors a selection of exclusive benefits.  These benefits include High profitability rates, the use of a personal account manager, and Free tournament account participation.

IQ Option Fee

TRANSACTION & COMMISSION FEES

IQ option charges little to no commission fees. A fee of 2.9% will be charged if you open a ‘long’ cryptocurrency position. For example, if you invest $10 to buy the equivalent in Bitcoin, you will be charged $0.29 for opening the position (or 2.9% of $10).

OVERNIGHT FEES

Also known as a ‘Swap Fee’ or ‘Overnight Funding’, this will be charged on CFD positions left open overnight. This fee is set at 0.01% – 0.5% of the face value of the position and affects CFDs on forex, ETFs, cryptocurrencies and commodities. Brokers such as IQ Option will charge an overnight fee to cover the cost of the leverage a trader uses overnight.

IQ OPTION TRADING FEES

IQ Option does not charge any fees on trading activity. You’re free to profit off your open and closing trade positions without paying any trading or commission fees. Many brokers will take a slice of the profits generated from the ‘spread’, i.e. the price difference between where traders buy or sell an asset. However, IQ Option does not do this and instead generates its revenue by alternative means.

IQ OPTION INACTIVITY FEE

There is a ‘Dormant Account Fee with this broker. While some brokers only require that you log in to your account to keep it active, IQ Option charges a fee if an account is inactive for 90 days. If no trades are opened, pending, or executed inside 90 days, your account will be charged the €10 fee. The same amount will also be charged monthly afterwards if your account remains dormant.

VERIFICATION FEE

While you won’t be charged for opening an account with IQ Option or making a deposit, it’s important that you submit your identification verification documents as soon as possible after you’ve opened your account. If you don’t submit them within 15 days after making your first deposit, all your funds (minus profits) will be returned to your account. If your balance is above €5 then you don’t need to worry, but if it’s below €5 then you’ll be charged a fee of up to €5.

Trading Platform

IQ Option developed an award winning proprietary trading platform. The platform is user-friendly and easy to use. The trading tools included: multi-chart layouts, technical analysis, economic calendars, stock screeners, historical quotes, volatility alerts and market updates. Unlike other brokers, iqoption platform is available in 13 languages.

IQ Option's platform allows you to trade a variety of financial instruments and assets. These include stocks, Forex, binary options, digital options, ETFs, cryptocurrencies (such as Bitcoin, Litecoin, and Ethereum), and other commodities. The main screen shows a chart displaying currency value over time. On the right side of the screen, you can buy and sell currencies. The top of the screen displays the balance available in your trading account, and the asset that you are trading in.

The chart is in the middle of the screen. Buy and sell button are on the right side. Trading account balance is shown at the top.

You can choose between different assets by clicking on the drop-down box on the left-hand side of the screen. The trading interface has useful browse and search functions to help you find specific assets.

If you choose to trade, click on the buy or sell buttons on the right hand side of the user Interface. Input the amount that you wish to buy or sell. If you want to multiply your potential profit by a coefficient, you can use multiplier orders. This increases risk and the potential gain. You can choose and set thresholds that close the trade to avoid you spending much of your balance.​

Technical Indicators

Technical indicators are useful in helping the user identify and monitor trends. Indicators give insight into which trades are likely to be profitable. The technical indicators include: Volume (exchange), Bollinger Bands, Alligator RSI, MACD, Moving Averages, Stochastic Oscillator, Parabolic SAR, Awesome Oscillator, ATR, Fractal, ADS, CCI, Ichimoku Cloud, KDJ, DPO, Belkhayate Timing.

Analysis – Charting Tools

IQ Option offers an array of visual charting tools. Charting options allow traders to map out their trading strategies. The graphs offered on the user Interface include Area, Line, Candles, Hollow Candles, and Bars.​

Deposit and withdraw money

IQ Option offers more than 5 deposit and withdrawal methods. The minimum deposit for this account is only $10.

Investors can deposit money easily. This exchange offers you a lot of payment method options to fund your account.

In addition top up by card, you can also use other methods, including: wallet such as Skrill, Neteller, Mastercard, Visa, Webmoney WMZ, Webmoney WME or AdvCash.

According to many traders, the lack of a Paypal deposit method is a pity for this exchange.

According to practical experiences, depositing and withdrawing money with e-wallets and cards will be faster than depositing by bank transfer.

The IQ Option binary options trading platform offers you several other deposit methods depending on the country. The minimum amount for a trader to start trading with a real account is $10 (VND 230,000). This number is considered one of the lowest in the industry.

You should note that the exchange's trading platform only accepts deposits in US dollars and euros.

IQ Option Withdraw funds

Investors need to use the same method as when depositing. Although this exchange allows deposits without verification, you can only withdraw funds after you have verified your identity.

The minimum withdrawal amount is $2 (50,000 VND) and the maximum is $1,000,000 (23 billion VND).

Withdrawal requests take up to 3-5 business days to process. Some withdrawals may take a long time to anticipate depending on the remittance service provider and the remittance method. That's why we encourage you to check your account right after you sign up.

Trading Asset

List we found in table below are product that can trade on IQ Option:

Customer Support

There are several ways to contact customer support:

• by phones and addresses indicated on the site;

• via email: support@iqoption.com.

• via social networks;

• via chat on the broker’s website;

Conclusion

IQ Option is actually a pretty reputable binary options broker today. However, as we said earlier, options trading is very risky, so you should be very careful when participating in this form! Good luck!