IQ Option


IQ Option Forex and CFD Broker Review 2019 - Scam or Safe?

IQ Option 120x80IQ Option has gained popularity among the European CFD and FX brokers as well as traders from the rest of the world. Founded in 2013, IQ Option is based in Limassol, Cyprus. Other than English, the brokerage website supports several languages such as Russian, Chinese, Italian, Korean, Portuguese, Arabic, French, German and Turkish. Therefore, the traders can choose to visit the website in their mother tongue.

 

 


 
iqoption web
IQ Option Website

Overview:

  • Minimum Deposit: Real a/c- $10, VIP a/c- $3000
  • Maximum Leverage: Stocks- x 10, Forex- x 500, Crypto- x 5 (T&Cs apply)
  • Tradeable Assets: Stocks- 433, Forex- 27 pairs, Crypto- 16
  • Regulated By: CySEC (IQ Option Europe Ltd, Cyprus). IQ Option Ltd (Seychelles) is not regulated
  • Demo Account: Yes

Note: Your capital is at risk


 

License & Regulations

It is necessary for all FX and CFD brokers to obtain a license from at least one regulatory body. A license distinguishes an authentic broker from a scam. IQ Option Europe Ltd had been authorised by Cyprus Securities and Exchange Commission (CySEC) that allows the company to operate legally across 27 countries under the jurisdiction of the European Union. For the non-European traders, IQ Option Ltd. is registered at Seychelles. This entity is not regulated.

 

Registration

The registration process on IQ Option is not a big deal. The Forex or CFD trader can do so by simply clicking on the “Sign Up” icon and entering their real name, email id and by giving a password. The trader has to confirm that they are above 18 years and accept the broker’s Terms & Conditions.

 

Account Types

IQ Option basically offers three types of accounts for its non-European clients; training account, real account and VIP account. The segregation of the accounts are necessary to let the traders can decide on how much risk they are going to take. The training account for the non-European traders does not take any commissions. The traders do not have to provide their credit card information and the trader can deactivate the account at any moment. In case the trader has shifted to the real account, they have to make an initial deposit of $10 and can trade over 70 assets. Those who opt for VIP account will have to make a deposit of $3000. These traders will have access to over 100 assets and the withdrawal process is even faster. By opening a VIP account the trader will also have a personal manager.

 

Trading conditions

The website of IQ Option is easy to navigate and a trader can simply follow the icons to start trading Forex or CFDs. The online broker provides a wide variety of tradable assets to its clients.

Spreads: The broker offers tighter spreads to its clients and does not take any other commissions.

Assets: For Forex trading, the user can choose either of the 27 currency pairs. The CFD traders can choose to the stocks, cryptocurrencies, indices and the forex market. The traders can choose the stocks of tech giants like Google, Apple, IBM, Microsoft and Apple.

Minimum Deposit: The minimum deposit for forex and CFD trading is $10 for real/standard account and the minimum deposit for VIP account is $3000.

Negative Balance Protection: The online broker also has a negative balance protection in place so as to prevent the traders from running into a negative balance account. This stops the trader from losing more funds.

 

CFDs on Stocks

  • Assets: 30 tradable assets including Apple, Facebook, eBay, Google, Amazon, IBM, Microsoft etc.
  • Maximum leverage: x10*
  • Spreads: Tighter spreads, may vary according to market

 

CFDs on Forex

  • Assets: currency pairs consisting Euro, the US dollar, Canadian dollar, British pound, Japanese yen, Swiss franc etc.
  • Maximum leverage: x500*
  • Spreads: Tighter spreads, may vary according to market

 

CFDs on Cryptocurrencies

  • Assets: 15 cryptocurrencies including Bitcoin, Ethereum, Bitcoin Cash, IOTA, Dash, Ripple, Zcash, Omisego, Tron, Stellar etc.
  • Maximum leverage: x5*
  • Spreads: Tighter spreads, may vary according to market

Leverage tool is called the multiplier on the IQ Option trading platform. Other instruments like ETFs will be made available by IQ Option soon.

 

Trading Platform

IQ Option relies on its own software and constantly update it such as to remain ahead of the other trading platforms. Their aim is provide the best of experience to their clients in forex and CFD trading by providing faster and more accurate trading platform. The trading platform of IQ Option suits the trader irrespective of their trading experience. The trading platform is supported on Android and Apple smartphones, desktop and on browsers like Google Chrome, Opera, and Mozilla Firefox.

 

IQ Option tournaments

IQ Option offers free weekly tournaments to non-EU traders from different financial markets to participate in. The prize given to the winners is a ticket that will allow the trader to participate in a larger paid tournament completely free. The traders may have to take a little more risk but it may yield into larger rewards.

 

IQ Option App

The IQ Option app can be easily downloaded from Google Play Store and from Apple store. The trading platform of IQ Option is compatible with all the smartphone versions can the trader will feel at ease as they felt with the desktop version.

 

Deposits and Withdrawals

The deposit and withdrawal process at IQ Option is fast enough and the broker does not charge any fee or commission. Credit cards, eWallet and bank wire are available for the deposit and withdrawal. The company accepts Mastercard, Visa and Maestro and eWallet like Skrill, Netellerand and Webmoney. The withdrawal process usually takes one business day when the medium is eWallet. But, for credit card and bank wire it may take as long as 10 business days.

 

Demo Account

The demo account of IQ Option is an essential feature, especially for the beginners in Forex and CFD trading. It is similar to the live version except that the traders are provided virtual money worth $10000 to trade with. Once the beginner has gained some experience through the demo account and understood how the Forex and CFD markets work they can transfer to the real account if they want to. The broker allows for easy transfer process.

 

Education

The education section of IQ Option is available to everyone. They provide detailed guides on how to trade forex and CFDs and have the technical charts like candlestick, line and bar to explain it all the way. The education part provided by the broker makes it easier for the trader to approach the market.

 

Bonus and Special Offers

IQ Option doesnt offer bonuses anymore. This is forbidden for CySec regulated brokers. But as we mentioned there are tournaments with attractive prizes.

 

Customer Service and Support

For any query or complain the trader can contact IQ Option support centre through email This email address is being protected from spambots. You need JavaScript enabled to view it. or through telephone. Their support team is available 24x7 and eagerly help out their clients and potential clients. However, the broker does not have a live chat support option.

 

Best Features of IQ Option

        IQ Option Features of IQ Option:
  • Stop Loss and Take Profit: IQ Option offers the stop loss option to their clients. It is essential for the CFD traders to do risk management. The trade will automatically close after it has reached the predetermined profit percentage. The stop loss and take profit tools can be used at the same time. The trader just needs to specify the conditions.
  • Leverage: The range of multiplier offered by IQ Option is usually x1, x10, x25, x50, x300 and even x500 for the forex, CFD and cryptocurrency traders. (T&Cs apply)
  • No Charges: The broker does not charge anything for trading forex and CFDs. Their income comes from the spreads.

 

 

 

Frequently Asked Questions

1. Is IQ Option a Scam?

No, IQ Option Europe Ltd. is registered at Cyprus, and is regulated by CySEC. IQ Option Ltd. is registered at Seychelles. This entity is not regulated.

2. What is the minimum deposit amount?

The minimum deposit for forex and CFDs is $10 only.

3. How fast is the withdrawal process?

The withdrawal process can last from a few hours to 10 business days depending to the medium of transfer.

4. What is the Forex/CFD trading platform offered?

IQ Option offers its own trading platform to the forex and CFD traders.

5. What is the maximum leverage offered?

The maximum leverage that a trader can take advantage of at IQ Option is x500. (T&Cs apply)

 

Conclusion

IQ Option is renowned among the non-European traders for forex and CFD trading. Their trading platform is competitive and contains many innovative features. One can trust the broker as it is regulated by regulatory bodies from several countries. The website displays risk warnings and does not fool a person to invest into anything. This is one advantage of logging into IQ Option.

Note: Your capital is at risk


 

Risk Warning: Trading may not be suitable for everyone, so please ensure that you fully understand the risks involved. Especially trading leveraged products such as Forex and CFDs carry a high degree of risk to your capital and can result in the loss of your entire capital. Only invest with money you can afford to lose.