Servicing over 200 countries worldwide, IQ Option is a global broker offering more than 250 financial instruments using its proprietary platform. IQ Option’s best features include having no swaps, low minimum account deposit, and award-winning platforms.
Learn more about IQ Option’s trading services, market offerings, and other key aspects in trading by reading this broker review.
IQ Option Background & Safety
Designated as a CIF (Cypriot Investment Firm), IQ Option is run and owned by IQ Option Europe Ltd (its parent company) since 2013 that is headquartered in Cyprus. According to its official site, IQ Option has over 48 million registered users across 213 countries worldwide. Moreover, the broker claims to have over 1.3 million worth of monthly trading volume. The firm has 79 specialists comprising its multilingual client support team that is available 24/7.
In terms of regulatory certification, IQ Option is licensed and regulated by the Cyprus Securities and Exchange Commission (CySEC). With this regulation, IQ Option is a member of the Investors Compensation Scheme, insuring its clients with up to 20,000 euros in the event of insolvency. It also enables the firm to offer services within the European Economic Area. Clients outside the EEA are handled by “iqoption ltd”. This entity resides in St. Vincent and Grenadines and is not regulated.
It is also worth mentioning that IQ Option is an award-winning broker. It won several accolades in its young trading brokerage plight, and it continuously competes against the more popular brokers by introducing innovative trading services and solutions. Earlier this year, IQ Option added margin trading to its trading features.
IQ Option Features & Fees
Market Coverage
IQ Option offers over 250 tradable assets covering forex (50 currency pairs), stocks (184 stocks), commodities (Gold, Silver, Crude Oil Brent and Crude Oil WTI), ETFs (24 ETFs), Options (49 available), and cryptocurrencies (12 cryptocurrencies on CFDs).
Account Types
IQ Option parades only two account types in Standard and VIP. Through the Standard account, retail traders can open the account with just a $10 minimum initial deposit. Account users are given full access to all financial instruments and a complete set of trading features and tools.
On the other hand, the VIP account requires a $1900 minimum initial deposit which includes a personal account manager, monthly reports on your trading records, and 3% additional returns. VIP accounts, however, are only available to clients outside the European Economic Area.
IQ Option also offers a Demo Account in which traders can test their trading strategies as they are given with $10,000 virtual money.
The commission fee for cryptocurrency trading is 2.9% while other financial markets have zero commissions. Swap fees or overnight funding fees range from 0.1%-0.5%. The broker charges an inactivity fee for accounts that are inactive for 3 months with $31.
Funding Methods
IQ Option accepts and facilitates payment through various options including Mastercard, VISA, Skrill, WebMoney, Neteller, advcash, and Perfect Money.
The broker charges no deposit and withdrawal fees except for bank transfers. Withdrawal request processing usually takes one business day for credit cards and bank wire transfers. Withdrawals made via e-wallets can be processed in a few hours.
Promotions
IQ Option houses a special platform for trading competitions among clients outside EEA. These tournaments provide traders the opportunity to make extra earnings by winning as much as $50,000.
IQ Option also introduces Currency Multiples. This product works like a leveraged trade, in which price movements in the underlying assets are magnified. The price movements can be as huge as 100 times the base price, providing traders bigger chances of taking profits (and risks at the same time).
IQ Option Trading Platforms & Tools
Upon launching its brokerage service in 2013, IQ Option also launched its proprietary trading platform. The platform features multi-chart layouts, technical analysis, historical quotes, volatility alerts, market updates, stock screeners, and economic calendars, among others. It is also equipped with over 15 technical indicators and an array of charting tools.
The platform has desktop and mobile versions. The mobile app is designed with an intuitive trading interface and contains the same features and tools as the desktop version. With IQ’s mobile trading app, you can trade, check account status, use charting tools, set alerts and notifications, and get notified about market developments.
The broker also hosts a number of research and educational materials to aid traders in making sound trading bets.
Bottom Line
A regulated broker with over a million clients worldwide, it goes without saying that IQ Option is a trusted brand. Its distinct advantage is its unique trading platform offering that perfectly benefits binary options traders.
With a variety of tradable assets plus a low minimum deposit, IQ Option is a good try for any trader.
