IQ Option Review 2018
IQ Option does not accept new customers from US.
We recommend you check out our top rated list and sign up at another provider instead.
- US Traders
- 23+ Pairs
- 1 Day Payouts
- Mobile Friendly
- Low Deposit
IQ Option is a CySEC regulated Forex broker that was established in 2014. While still a fairly new broker, it hasn't taken them long to achieve rapid growth with now more than 20 million members, which increases daily. They have expanded their offering, increasing their portfolio and consistently updating their platform to make sure they offer the best Forex trading experience to their clients.
The broker offers everything you would expect from a Forex broker with a good trading experience and lots of trading tools to help you grow. With 50 different currency pairs to trade in, competitive spreads and a 24/7 customer support service there are many reasons to open an IQ Option account.
While on the surface it all looks good, we review every broker to ensure that what they claim is genuine and that their offering meets your expectations. We look at a number of factors (details of which you will find below) and score them on each of these criteria to help you to decide if IQ Option is the choice for you.
Does IQ Option makes your shortlist of potential brokers? In this review you will learn:
- The ease of use of the broker platform including their mobile offering
- All the platform trading details including their spreads and leverage
- If they offer any bonuses or promotions to encourage you to choose them
The broker doesn't require a deposit to open an account however they do have two types of account available:
Everyone is assigned a Standard Account if their deposit is below $3,000, it automatically upgrades to VIP once deposits collectively reach $3,000.
The VIP Account offers access to educational tools and advisors that aren't available with a Standard Account. It requires a deposit of $3,000 however those who start with a Standard Account will be upgraded once deposits reach this amount.
In addition to the Standard and VIP Accounts there is also a demo account which is reloadable. You start with $10,000 simply by entering your email address. No deposit is required and you can use this virtual account to get to grips with the trading platform before committing your own funds. As it's reloadable, every time you feel you need to take some time out to hone your skills, you can simply use it when you need to.
Trade Features And Payouts
What do IQ Option offer when it comes to trading features and payouts and what can you expect from your Forex trading experience?
Leverage involves "borrowing" the amount you need from the broker to invest in something. Through the use of leverage you can build up a good sum of capital. The maximum leverage or "multiplier" that you can get from IQ Option is 1:300. This is stated on their website in a number of locations.
The broker prides themselves on offering tight spreads with no commission. This is displayed in a prominent positon at the top of their website. If you are trading in major pairs you will find that the spread increases from 5 to 10 pips.
On offer are both Stop Loss and Take Profit trading which means that the trade will close itself when it reaches the level that you have specified. Both features can be used together to ensure that you can control when you want to exit the trade and take the money. These functions can be found under the "Position Auto Closing" tab.
IQ Option are able to deliver such a high-end customer experience because they have built their offering using their own proprietary platform. That means they are able to offer you the experience that they want to deliver as they aren't restricted. Their platform is not only optimised for the ultimate experience on a laptop or desktop, there is also a mobile website and a mobile app for those who like to trade on the go.
Bonuses And Promotions
The bonuses offered by IQ Option are deposit bonuses and are based on the amount that is deposited. If you deposit $100 then you will receive a bonus of 20%. This then increases on an increasing scale until you reach $5,000. If you deposit the amount of $5,000 then you will be rewarded with a 100% bonus.
As with all Forex brokers, the bonus is not available to withdraw. It is there to enhance your trading experience and reward your custom. If you were expecting to be able to withdraw it then you need to understand that it must be turned over a certain number of times before it becomes withdrawable.
Forex trading is something that most of you will be keen to conduct on the move. With most of our lives lived through a mobile device, we expect to be able to pick up a phone or tablet and find what we want. For those of you that are keen to trade on the go then IQ Option offers the perfect solution.
As well as a mobile responsive website, they also offer an app for both Android and iOS which is available to download from the App Store and Google Play. If you prefer not to use an app and prefer the website, you will find that the site responds to the device that you are using. Both deliver a good experience it just depends on your personal preference.
Deposits And Withdrawals
Making a deposit is simple. IQ Option accepts all major forms of payment. If you are using a debit or credit card they accept Visa, Mastercard and Maestro. They also accept electronic wallets including Skrill, Neteller and WebMoney. When you sign up to an account and make your deposit, your funds will be available immediately to start trading.
When you are ready to make a withdrawal you simply enter the amount that you wish to withdraw and the funds will be returned to the original source of deposit. Where many sites take approximately three business days to return your funds, it only takes 1 business day. That means you don't have to wait for your money where you might with other brokers.
In addition to everything you would expect from a Forex broker there are features that are offered which set them apart from the competition. IQ Option offers the following:
Forex Site Reviews
The IQ Option customer support system is available 24 hours a day, 7 days a week, even if the platform is only available to trade for five of those. They pride themselves on their chat response time having improved it from 420 seconds in 2014 to 30 seconds today. In addition to this live chat function, they also are contactable by a number of other methods. There are 18 different contact numbers for various countries including the UK, Russia, Italy, Argentina, South Africa, Portugal and more.
Something that you won't find on every Forex trading site is the contact information of the experts. The CEO, CAO and the owner, all have their email addresses clearly displayed below their pictures which invokes that extra level of trust from their clients. There is also a specific contact email address for payment queries as well as the "ask a question" feature. In addition to this you will also find them on Facebook and other social media platforms.
If you are looking for a reliable and trustworthy broker, that ticks all the boxes, then IQ Option is a strong contender. With a good industry reputation in Forex and other forms of trading, they are a force to be reckoned with. Their millions of clients and the sheer volume of trading in three years should give a strong recommendation for their services.
They are committed to helping you succeed with educational tools and a good support system. Their technology is advanced and continues to be evaluated and updated as required. As a licensed and regulated broker, you can be confident of a good trading experience whether you are a beginner or a more experienced trader. If you are looking for a broker that offers everything you need then this is a strong contender in the Forex trading arena.
Reviewed by: ForexTradingExpert.net
Frequently Asked Questions
Is IQ Option legit, will they scam me?
IQ Option is one of the better-known brokers in the world of Forex. They are headquartered in Cyprus with licensing from CySEC. Their standing in the world of Forex means that they have a good reputation with Aston Martin Racing as a sponsor, a company that pride themselves on their brand. With multiple ways to contact a member of their support team and the directors themselves, your money will be safe when investing with this highly visible broker.
Do they have a decent mobile or tablet app?
IQ Option have both a mobile responsive website and an app that is available for iOS and Android. This means that whether you have a mobile tablet or device, you should be able to download the app from the App Store or Google Play and begin trading on the move. With a very good mobile offering, you can be confident of a great trading experience. Wherever you have a phone and an internet connection you will be able to enjoy trading.
What bonus do they offer for new traders?
IQ Option offer a deposit bonus as opposed to a no deposit bonus. This starts at 20% for a minimum deposit of $100 and increases to 100% for a deposit of $5,000. The bonus is not withdrawable until it has been traded a certain number of times however so if you were thinking it was a great way to make some fast cash then there are restrictions to prevent this. The bonus is a great way to top up your funds to allow you to place more trades.
Can I start trading on a free demo account?
Yes, with IQ Option they not only have a free demo account but it is also reloadable. This is fantastic news for you if you find you want to spread your wings a little and diversify into other currencies. You can practise trading before you sign up, then each time you want to try a new pair for example, you can reload your account. The amount that the demo account offers in virtual funds is $10,000
What's the min. deposit and ideal trade amount?
You can open an account with a deposit of just $10. This make trading very accessible to all who are new to trading. With a 1:300 leverage you can soon build up a good sum to allow you to place higher value trades. Remember, you can't lose more than your investment with IQ Option. If you are wondering how much you should invest on each trade the recommended amount is 1% of your capital. If that is only $10 you may want to adjust this or leverage your trades.
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