IQ Options is an online broker that offers binary options, CFDs, cryptocurrency and forex trading. Our detailed review includes a full tour of the trading platform, a review of the mobile app, as well as information on how to effectively use a demo account and strategy tips and options. Join millions of other traders and log in today.
General Risk Warning:
The financial products offered by this company carry high risks and may result in the loss of all your funds. You can’t invest money you can’t afford to lose
Trading Platform
To provide clients with access to financial markets and online trading, IQ options have developed their own trading platform and various instruments. The platform’s interface and features are not what most binary traders are used to either, as they are modeled on more advanced systems used by the spot forex trading industry.
IQ Options software includes tools such as stop loss, and take profit levels – features not available on ‘standard’ binary operators.
To add to the trader’s risk management and trading strategy options, the firm also created a ‘Position Position’ feature. This is a mechanism that allows trade to continue to be open indefinitely.
Strategy Tools
Strike price and trade buttons are clear and intuitive, as are price graphs and charts. Navigation is simple, traders can easily switch between assets and markets. In addition, the entire layout is configurable and customizable – so traders can move as many graphs or analysis tools as they like to customize their trading strategy.
The customizable elements make this one of the best trading platforms in the industry.
The platform is available as a web-based hub, or alternatively, traders can download a version for PC or Mac. Downloads are fractionally faster. There is also a mobile platform. All platforms are reliable, but PC downloads have fast trade execution times.
Currently, there is no Metatrader 4 (mt4) integration.
It is clear, that the software is one of the most sophisticated trading platforms in the binary industry, especially over the counter (OTC) brokers.
The website is available 24/7 so there are no ‘opening hours’. Assets will only be available for trading when the relevant market is open, however. So many forex pairs are traded at all times of the week, but US stocks can only be traded when the NYSE is traded.
Marking
In addition to having a refreshing user interface, the trading platform allows traders to change their chart view from a choice of four different layouts:
- Line
- Candlestick
- Area
- Bar
Timescales for bar and candlestick charts can be selected from an impressive 18 intervals – and multiple graphs can be used, to confirm trends on more than one time frame.
In addition, there are also various other tools such as line drawing tools that traders can use to plot their own trends on live charts. The latest update also adds many technical analysis features. Various indicators such as Bollinger bands, moving averages or the relative strength index (RSI) can be placed on the chart. Almost 20 different indicators are provided.
These charts allow active traders to use price action patterns to spot opportunities across different time frames, making correct predictions more likely.
Perhaps one of the most useful features of the trading platform is the ability for traders to make multiple trades on the same chart. This is especially useful when you want to pick up more sophisticated trading strategies or trading signals. Turbo and Martingale strategies are easier to apply when you can monitor open positions on the same chart.
Trade sizes range from just $1, up to a maximum investment of $10,000 on classic options.
Forex And Crypto Products
New products such as forex and cryptocurrency trading exhibit slightly different options based on the market being traded. For example, forex trading will increase leverage and stop loss features. Assets like Bitcoin or Ethereum, which are traded through contracts for difference, have no expiration time. However, they have a stop loss and take profit feature. New forex offers also make weekend trading possible.
The look and feel remains the same across the trading range, and all relevant information is available to traders. Therefore, traders who are used to binaries can still feel at home if they want to trade forex.
Mobile App
The IQ Option mobile trading app follows the evolution of bespoke trading platforms, and delivers a seamless mobile user experience. The trading area looks the same, and the screen, buttons and ‘look and feel’ match the full website, or desktop download.
Mobile applications have been delivered as customized products for each operating system, so IQ Choice Android application, has been developed exclusively for android devices. Likewise, iOS apps have been written with the iPhone or iPad in mind, and ensure that they get the best out of the device. It’s that kind of attention to detail that IQ becomes famous for.
Recent changes about binary related applications have been addressed immediately by IQ Options. They have redeveloped the iOS version to comply with the new rules. Their ability to adapt to the changing investment landscape is reassuring. The new version includes forex and CFD trading – and cryptocurrency trading will also be available once released.
There is also an ‘ IQ Option for Windows’ version, as well as an android and iOS version. The download button below will take you directly to Google Play or the App Store, and the most recent version of the mobile trading app:
Download Choice IQ App
Demo Video
Here is a demo video of IQ Options. It is a full demonstration of all the developments added during the recent ‘4.0’ platform upgrade. The demo includes how users can modify the trading area to suit their own needs. It shows how to examine the same price chart for more than one time frame, how to add technical analysis coverage and how all this can improve trading results.
While the video is not an out and out tutorial, it provides a full demo of the user experience, the new trading platform, and how it differs from other binary options broker platforms.
Trading Options (CFD, Forex and Binary)
IQ options have been consistently added to the underlying asset portfolio. Traders can trade in 4 main asset classes such as forex, commodities, equities and indices. They also respond to user requests, for example, the reach of Cryptocurrency is now huge.
Currency pairs are a particular strength at IQ, with some more exotic currencies, including NOK, SEK and TRY. The list of assets is comprehensive, so traders can use their winning tricks in various markets. The Dollar, Euro, Yen and Pound sterling still dominate the majority of forex trading and generate the majority of trading volume. EUR/USD remains the most popular pair to trade.
The firm has also extended its expiry period. Previously specializing in short-term expeditions, IQ now offers more options – including the popular end-of-term, and longer weekend and end-of-month runs. Merchant options have never been greater.
Forex and CFD trading expands user options even further. Forex can be traded per pip (in addition to binary trading) and CFDs can be traded without a long term trading period. A recent cryptocurrency development offers access to bitcoin and 6 other cryptocurrencies, through contracts for difference – which means no expiration.
The Forex Multiplier is a feature that IQ Options adds to provide a degree of leverage. The maximum multiplier now reaches an impressive x1000 – but remember this effect has gains and losses. Therefore, you can enlarge your trade size by x1000 to take advantage of small moves in the currency market.
FX options
IQ Options has added FX Options to their product list. A conduit between binary options (limited expiration, limited risk) and traditional forex (profits dependent on underlying price movements), FX Options will offer EU traders an alternative to binaries. With ESMA banning binaries in the EU, IQ Options wanted to create a similar product, but there was no violation of the ban.
Options allow traders to choose their own strike price, and trade higher or lower from there. The % payout varies based on the price movement required for the trade to settle ‘in the money’.
As these are more like traditional options, they can be closed at any time using the ‘Sell’ price and the volatility and time remaining will affect the value of the trade at expiry.
As a newly released product, IQ only provides hourly expirations at this time. The options may grow but only if the product is successful
The screenshot above shows the possible attack level on the right, next to the trade button. The red / green bars depict potential payouts and these will shift and change based on the strike price, expiration time and current market value.
CryptoCurrency Multipliers
In addition to traders having the ability to trade crypto assets using CFD, Forex or Classic options, IQ Options also introduces a new vehicle – Cryptocurrency Multiples. This trade is effectively a leveraged trade. The underlying price remains the main element, but with a multiplier, the trade is magnified. This increases the potential profit, or loss, made on any deal.
Initially, IQ only offered Bitcoin x 100. As the name suggests, it is a multiplier of 100 that is used for the price of Bitcoin. Increased volatility, for already volatile assets – ideal for traders.
This product was so successful that IQ has expanded the offering. So multiples are now available on more cryptocurrencies, for example Ethereum (ETH), IOTA, TRON and Ripple. The range ranges from x20 to x50 and x100 on Bitcoin. It offers another high risk/reward path for traders to profit on crypto assets.
Trading Costs (Spreads, Commissions)
When comparing brokers, you need a broker that is transparent with its fees and costs. To assess what trading at IQ will cost you, you need to consider:
- Spread – The price gap between buying and selling value. This varies based on things like volatility, assets, liquidity and even hours.
- Withdrawal Fees – There are no withdrawal fees on most payment service providers. Bank transfers have a charge of $31 (or currency equivalent).
- Commission – On cryptocurrency trading, a commission of 2.9% will be charged. Other markets have no commission at all.
- Swap Fee – A fee is charged for certain trades held overnight. They vary from 0.1% to 0.5% and are higher when left open on weekends.
- Dormant Account Fee – If the account is inactive for 90 days, a charge of €10 (or currency equivalent) will be made every month until the balance is zero.
Deposit & Withdrawal
Deposits can be made using a variety of options – this will vary based on the user’s country, but popular methods include debit and credit cards, e-wallets such as Skrill and Neteller and even crypto currencies through the Hodly service. Bank transfers via debit cards remain the most popular option for European-based merchants.
IQ Option also recently introduced AstroPay to facilitate payments from regions that may have had fewer options in the past, such as Brazil, Argentina or Vietnam. In addition, IQ now also accepts bank transfers from various Asian banks:
- Thailand – Bangkok Bank, Kasikorn Bank, Krung Thai Bank, Siam Commercial Bank, Bank of Ayudhya, Government Savings Bank, TMB Bank.
- Philippines – Help2Pay
- Indonesia – Central Asia, People of Indonesia, CIMB Niaga, Nation of Indonesia, Mandiri.
- Vietnam – Vietcombank, Bank for Investment and Development, Techcombank, Vietin Bank, Asian Trade Bank, Sacombank, Donga Bank, Eximbank.
- Malaysia – Supported banks include: Maybank, RHB Bank, Public Bank, Hong Leong Bank, CIMB Bank, AmBank
South Africa is also supported through a range of new payment methods including Perfect Money. Actually, Perfect Money caters to various regions, including South America (Argentina, Brazil and Colombia)
China Union Pay provides payment solutions for merchants in China, Taiwan, Hong Kong or Macau
Happy
Deposit errors are rare, and the support desk can usually help if users run into problems. It is safe to deposit with IQ Option.
Production can be made using the same list of methods. Verification is often required before withdrawal methods can be used, and proof of withdrawal remains in the user’s area for the lifetime of the auditing account and so on.
Account Type
A standard trading account only requires a minimum initial deposit of $10. The basic account includes all types of options, withdraw options and functions as a higher level account.
The firm offers VIP Accounts. To get a VIP account type, a trader needs to deposit $3000 or more in one deposit. Benefits to VIP status include:
- Higher payouts (For example, +3% on FTSE or Google trade)
- Entry to bigger tournaments, with prizes up to $100,000
- Educational materials exclusive to VIP account holders.
Payment
In terms of return on investment, standard payments offer very competitive rates. Under the right conditions, traders can earn up to 91% payout in the case of a successful trade. This payment will vary according to the asset and time period selected. The ‘headline’ payout of 91% is among the best on offer in the industry. Note the term ‘profit profit’, it does not imply a guaranteed profit, only the profit made for a single trade when it is   successful  .
Forex And CFDs
Payouts on products such as Forex and CFD trading will depend on the performance of the underlying asset. IQ provides the type of risk management tools you would expect when trading these tools. They include stop losses and user-defined leverage (which can be set to zero). This new product moves IQ Options into the league of major global brokers, and their offering is certainly up to that point. They also offer direct access to bitcoin and ethereum trading – which many larger brokers do not.
Foreign exchange spreads and CFD trading also compete. So the cost or fee of doing business with IQ is low, and certainly comparable to larger and established online brokerages. An independent practice account is a good way to experiment with other types of assets, risk-free.
Promotional code
IQ previously offered a monthly promo code for new customers as a welcome offer. This is paid as a deposit match, and the level will ‘scale’ based on the size of the initial deposit. This type of offer has been withdrawn due to rule changes. As a responsible regulated broker, IQ no longer offers this type of incentive. Reviews that still refer to bonuses may not be answered.
Is IQ Option A Scam?
IQ Options is licensed and regulated by CySEC, but they also seek to register with other regulatory bodies (full details can be found on their website). They are ‘legit’, trustworthy businesses. Their affiliate network all market responsibly and ensure the nature of the trade is accurately reflected. They are licensed by the FCA in the UK as the regulatory landscape has recently changed there.
Trading with IQ Options is legal worldwide, from India to Ghana, Vietnam to the UK.
History
Established in mid-2013, this brand is – in our opinion here at BinaryOptions.net – one of the most reliable and innovative binary brokers in the industry. Their reputation is also enhanced by the various awards they have won from various industry reviewers. They list their full range of awards on their website – The list of awards cited on their website is a reputable comparison site and confirms their credibility. IQ Option is safe and not a scam.
Our user satisfaction feedback is positive for IQ – Users have few complaints and have been using IQ’s preferred platform for months and years. Forum feedback is also positive.
Website connection problems (sites “not working” or “not loading”) are often local issues for the user rather than a genuine problem with the platform. Likewise ‘server down’ or similar errors usually end up being a customer rather than a real problem on IQ Option
Firms operate in a highly transparent manner, to maintain their reputation and consumer confidence, for example:
- Free Practice / Demo Account – This runs parallel to a real money account and has no time limit. IQ Options is happy that traders are honing their skills as long as needed, and has faith in their trading platform to maintain trader retention. Demo downloads are available, but traders can also use the full, mobile-friendly website. The demo balance can be reset by contacting the support team.
- Offer – The deposit match bonus has been completely dropped due to CySec and ESMA regulations. Regulators considered these types of bonuses high risk, and as a regulated brand, IQ has stopped offering them.
- Hedging – IQ is clear about how and when they will hedge their own positions. This should act to reassure traders who fear ‘over the counter’ brokers only want to see traders lose. IQ actively manages their risk.
- Support – Support is offered in multiple languages ​​and includes live chat for quick resolution of any complaints. Users who need to Cancel, Delete or Close an account should contact phone support.
- News – Events calendar and brand news are fed into the user area.
Rules
As indicated on their website, IQ Option Europe Ltd is operated by Infofield Premier Ltd (Registration No: HE324593) and Investlab Holdings Ltd (Registration No: HE327751). As Investlab Holdings Ltd is regulated by CYSEC (License Number: 247/14), this means that trader trading on the platform is also protected under MiFID provisions.
Open Trading Network
IQ Option begins the launch of their blockchain-based cryptocurrency exchange. Called the Open Trading Network (OTN), it is built on the Ethereum blockchain platform.
It provides standing cryptocurrency wallets and exchanges. Designed to meet the needs of a growing market, and regulators looking to oversee operations. The system is expected to go live in early 2018.
IQ Option does not raise money for this project through ICO, and this gives opportunities to traders. Instead OTN coins will be given to merchants, wallet users and token holders as an incentive to use the platform and provide liquidity.
IQ Option will receive their investment through a portion of the coins held for that purpose. The total number of coins to be issued is 100 million with 42 million going to merchants and wallet users over the next 2 years. Once the platform is live OTN tokens will be traded and can be sold on the open market.
This is an important development. This blockchain innovation reflects the major disruptive influence IQ is trying to generate across the financial sector.
Demo Account
IQ offers the best demo account terms in the industry. It is a demo account No deposit. The balance can be returned to $ 1000 as often as needed, and the practice account can be used long-term, there is no time limit.
A demo, or virtual account, can also run alongside a real money account – not “not”. This allows real money traders to change into a demo account, and experiment with new strategies or strategies without risking real money. It is the most flexible demo account available and completely risk free. This offer, coupled with a low minimum deposit, is why this broker is growing so fast. It is also why the brand attracts beginners and novices. It shows real confidence that they have the best trading platform, and know that once traders have used it – they will stay with them.
Country
IQ offers trading in multiple countries, and also supports multiple languages. In 2014, the firm operated in 18 countries – in 2016 it was up to 178. However, there are some countries where trading is not possible with IQ due to local regulations or laws. Therefore traders from Canada, USA and Australia are not allowed to open accounts at this time.
Having started operations mainly in Europe, the UK (United Kingdom) is one of the largest merchant bases for the brand, followed by other European trading hubs, such as Malaysia and Sweden.
The firm is also growing very quickly in Asia, with binaries becoming legal in India. They have recently added several regions to their list, including:
Other growth areas include Africa, where Ghana and Nigeria are seeing large numbers of new traders. This growth has been helped in part by a ‘softer’ regulatory regime. With a responsible brand like IQ Choice, this actually works well. The same reasons have led to marketing efforts in the UAE, Brunei and even Japan.
Traders in this area can now register on IQOption. The sign-in process is very quick, and demo account registration only requires an email address. Beyond the login screen, traders need to make a deposit before trading for real money. However, the minimum deposit is only $10 – one of the lowest in the industry. Trade minimums are equally low, just $1 per trade.
Competition
There is regular trader competition across trading platforms – each carrying their own set of terms and conditions. This is usually a competition based on trading success with a leaderboard. They are a method by brokers to encourage trading, so the competition is usually determined by the amount of profit in a certain period.
They offer a good way for traders to compete with each other, and create a lot of interest. These terms often vary – so one tournament might focus on short-term options, while the next might look at a specific asset class, such as forex.
There are usually many prizes for the winners of these competitions. These range from cash prizes, to more unique prizes, such as the recent Aston Martin race day experience. This gives successful traders the chance to enjoy a race day in one of the sponsored Aston Martin Racing cars. These competitions really enhance the customer friendliness that the firm promotes, and they are worth considering.
Strategy
Specific strategies to use on IQ Options are difficult to detail because of the wide range of options available. From rainbow strategies to technical analysis the trader’s options are endless. A winning strategy for eur/usd may not work for oil trading, and learning from a 60 second strategy may not improve results for 5 minutes or longer.
A demo account is a great place to try and find successful strategies. Every trader has to find their own system, and the unlimited demo at IQ gives traders a better ‘sandpit’ than vs Plus500.
Binary vs Forex
The binary vs forex debate is another complicated argument when looking at strategy – it will always come back to the trader, their risk appetite and their preferred trade length. Our strategy section may contain useful ideas, as does the forum. Our blog entries often contain trading tips, but how they are implemented or acted upon is of course up to the trader.
Elements of strategy such as money management are really a question for every trader, because only you can know your risk appetite.
A final point about strategy is that there is no such thing as a ‘no loss’ system. Some trades will win, some will lose, but winning strategies are profitable in the long run. Anyone who offers 100% accuracy (or anywhere) is very likely dishonest. A discussion on Reddit or Youtube is very unlikely to be a legit trader giving away a winning system for free!
Signals And Automated Trading
Currently, IQ does not signal to traders. There are sentiment indicators that sense market sentiment, but no automated signals.
Expert advisors are often a promoted feature on other brands, but ultimately broker employees acting on behalf of traders are unlikely to be impartial. IQ does not offer expert advisory services on standard accounts.
Firms choose to enable and educate their traders to make their own trading decisions.
Is the IQOption platform reliable?
Yes. Websites, desktop downloads and mobile apps all have reliability. However, IQ recommends desktop software for the fastest execution times.
What trading platform does IQOption use?
IQOption uses a proprietary trading platform. The platform is constantly being developed and improved, both to add new features, but also new markets. The charting facility on the platform is very advanced.
Does IQ Option offer leverage?
Yes. Although the maximum leverage offered by IQ Options is 1: 500 for unregulated members, EEA traders will see a leverage that closes at 1:30. It is possible to open a professional account to remove the restriction.
IQ Options also offers ‘Multiples’ on certain assets – especially cryptocurrencies. This act is the same as additional leverage, with as many moves in price multiplied by x50. See the IQ Option website for more information.
How quickly are production requests processed?
Withdrawal requests on IQ usually take one business day. It will take 2 or 3 business days before the funds hit the account, depending on the withdrawal method requested.
Complaint
Some critical users point IQ to the site not loading, not working or offline. These issues are usually on the end user rather than the platform. The website has impressive uptime statistics and they have a strong motivation to keep their platform open for business! It’s rare for this site to be unavailable or down and we’ve never experienced this kind of problem when connected over a reliable connection.
Registration
The IQ Option registration process only requires an email and takes only a few minutes. Once verified, you have access to a demo account, and the real money market. To trade a real account, a deposit needs to be made. The deposit process is simple, as is the registration process. The minimum is currently $10, and the smallest trade is $1 per option.
Contact details
IQ Option offers a variety of contact methods:
- Email – [email protected]
- Telephone Support – Offered in 18 countries including Australia, India, Thailand, Brazil, Germany and Spain (Helpline details on this website)
- Group Details: No. Registration HE327751
Address: Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33,
4102, Agios Athanasios, Limassol, Cyprus
Customer support can be accessed via phone, email or live chat. Clients are supported in more than 20 languages.