IQ Option Review & Tutorial 2021 – Is This Broker Safe?

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Reviewed by Jazmin Castello
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IQ Option Review & Tutorial 2021 - Is This Broker Safe

Cost Value

90%

Customer Service

94%

Ease of Use

98%

Pros

  • Minimum Deposit: $10
  • Payout: Max 95%
  • Demo: Yes

Cons

  • US Traders: Not Accepted
  • Free demo accounts
  • Withdrawals processed within one business day
  • 54 binary options
  • 22 forex currency pairs
  • 12 CFD cryptocurrencies
  • Minimum deposit $10
  • Founded in 2013
  • Maximum Payout of 95%
  • Trading platforms on mobile and desktop

IQ Options Review

IQ Option is an online trading platform that allows you to trade a financial instrument. The broker was founded in 2013 and has rapidly grown to become a popular trading platform worldwide. Currently, the broker has over 48 million registered users and over a million transactions per day. IQ Option’s platform is one of the best around, making it a top option for traders of all professional levels. If you want to learn more about IQ Option, this review provides a breakdown of everything regarding the company. 

IQ Option Trading Platform

IQ Option is a Cyprus-based trading binary options broker and one of the most successful online brokers. The company allows you to trade stock, forex, EFTs, commodities, and cryptocurrencies as a digital trading platform. This binary option broker uses a proprietary, custom-built platform to cater to its users’ needs. It is easy to use and comes with valuable features such as a multi-chat layout, technical analysis, historical records, market updates, economic calendars, and stock screeners. On the platform, your account balance and the asset is located at the top of the screen.

How To Trade With IQ Option Platform

You can trade with several assets and financial instruments such as stocks, forex, cryptocurrencies, digital options,ETFs, and commodities. Choose a financial asset from  the platform by browsing the categories using a search function. You can enter the amount and select whether you want to buy or sell. After that, enter a multiplier if you want to multiply your potential profit by a coefficient. You can close the trade automatically as it reaches a certain threshold of your set amount. 

What Assets Can You Trade With IQ Option?

This company started as a binary options broker but has diversified to offer clients the ability to trade CFDs on cryptocurrency, ETFs, forex, and stocks. 

Stocks

IQ Option has a selection of stock markets, including Nasdaq, NYSE, and London, among others. They allow you to trade CFDs on up to 169 of the best-performing stock assets without opening trading fees. These include Amazon, Tesla, Apple, and Boeing, and other big companies. You can only trade on the more popular stocks with IQ Option, making new stocks available for trading from time to time. 

ETFs

This company allows its clients to trade CDFs on exchange-traded funds or ETFs. This is where you combine different assets into one basket, with over 25 ETFs currently available to trade. CFDs come with a high risk of losing money rapidly due to leverage. A large percentage of retail investor accounts lose money when trading CFDs. This is because trading CFDs on leverage involves significant risk of loss to your capital.

Forex

More people are engaging in forex trading on the IQ Option. The trading platform offers competitive spreads and a wide range of currency to trade. They include the EUR/USD, USD/CHF, AUD/UAD, GBP/USD.USD/JPY, USD/CAD, and the NZD/USD. You can find more than 50 fx options on the platform.

Cryptocurrency

IQ Option offers several methods to trade and own cryptocurrencies. You can’t read CFDs in 27 different cryptocurrencies such as bitcoin, ethereum, Binance coin, Litecoin, Ripple, Stella, IOTA, and bitcoin cash. They guarantee excellent margin trading leverage, short selling options, quick deposits, and easy-to-withdraw money. However, the cryptocurrency prices can fluctuate, therefore, are not appropriate for every investor. 

Commodities

This Binance options broker offers CFDs on five different commodities like Gold, Platinum, Silver, Crude Oil Brent, and Crude Oil WTI.  

Trade Types And Payouts

The payout differs depending on the underlying asset you trade, the expiration time for the option in question, and the broker’s percentage on offer. They are categorized into binary options and digital options (CDFs). A binary option is a financial instrument that pays a fixed return for a correct market prediction of an asset within a predetermined time frame. When you correctly predict an asset’s price movement, you can get a profit of 95%. This trading has a $1 minimum investment and zero brokerage fees. Digital options or CDFs allow you to speculate on the extent of an asset’s price movement. The players can go as high as 900% of the asset, the threshold specified by the trader. You also need a $1 minimum initial investment and an expiry time ranging between 1 minute and 15 minutes.  

Technical Indicators

If you are trading on IQ Option, they offer up to 15 different technical indicators to help you identify trends and any profitable trades. Some of the technical indicators you will find on this trading platform includes KDJ, DPO, ATR, ADS, Fractal, Belkhayate Timing, RSI, and Parabolic SAR.

Charting Tools

This binary options broker provides several charting tools to help traders formulate a successful trading strategy. You will  get the most benefit from trading with IQ options using these charting tools. For example, you can find advanced trading tools such as Bars, Line, Candles, Hollow Candles, and Area.

Mobile Trading

On the IQ Option, traders can trade binary options and CFDs using a proprietary mobile trading app. The company has a mobile application that works on Android and iOS operating systems. You can download this application from the Apple Store or on the Google Play store. This mobile app comes with a clean and intuitive trading platform for beginners to use without struggle.  The benefits of using the IQ option mobile app for trading include staying updated with market developments, checking account status, and executing a trade. You can also set up customizable alerts and push notifications on the mobile app, and we use the charting tools to execute minimum trade. 

Charting Tools

This binary options broker provides several charting tools to help traders formulate a successful trading strategy. You will  get the most benefit from trading with IQ options using these charting tools. For example, you can find advanced trading tools such as Bars, Line, Candles, Hollow Candles, and Area.

Mobile Trading

On the IQ Option, traders can trade binary options and CFDs using a proprietary mobile trading app. The company has a mobile application that works on Android and iOS operating systems. You can download this application from the Apple Store or on the Google Play store. This mobile app comes with a clean and intuitive trading platform for beginners to use without struggle.  The benefits of using the IQ option mobile app for trading include staying updated with market developments, checking account status, and executing a trade. You can also set up customizable alerts and push notifications on the mobile app, and we use the charting tools to execute minimum trade. 

Account Types

You’ll find two different types of trading accounts when you open an account with IQ Option. You can choose between a standard and VIP trading account. A standard trading account requires a low minimum deposit of $10. This account doesn’t restrict trading functionality when compared to other CFD providers. With this account to get access to more than 350 assets to trade and a 24-hour withdrawal method. You can also access several adult trading competitions available on the IQ option platform for customers outside the EU.

On the other hand, the VIP trading accounts are only available to clients whose minimum deposit is more than $1900 in two days. When you open a VIP trading account with IQ Option, you get a personal account manager and monthly report on your trading records. You can also enjoy 3% in additional returns. However, the VIP account is only available to customers outside of the EEA.

IQ Option Free Demo Account

Demo accounts are free accounts you can sign up for and try out binary options trading to examine the software platform without risking extra money. IQ Option offers demo accounts, including 10,000 dollars in virtual money to experiment. You are not limited to using the free demo account, meaning you can test different trading strategies and familiarize yourself with the platform before you invest real money. You can also replenish the virtual funds if they run out of your demo account to continue the practice. 

Cryptocurrency Multiples

Recently, IQ option has introduced a product known as cryptocurrency multiples. It works similarly to leveraged trade, where a multiplier magnifies an asset’s price movements. For example, the cryptocurrency multiples were produced with the idea of Bitcoin X100,  which means it increases the price movement by 100 times, creating a significant opportunity and risk for trailers. Chademo IQ Option expanded the Bitcoin X100 idea to other cryptocurrencies such as ethereum, Ripple, and IOTA. However, this cryptocurrency multiplier is restricted to citizens outside of the EU.

Is IQ Option Safe?

Yes, IQ option is safe. They are a registered and regulated company by the Cyprus Securities and Exchange Commission under the company name “IQ Option Europe LTD” Also, the company stores all client funds in segregated bank accounts to enhance their security. They protect client funds up to a maximum of 20,000 by being part of the investors’ compensation scheme. However, trading is based on volatile market conditions. Therefore, you invest money where you can afford to lose.

Can You Make Money With IQ Option?

Yes, it’s possible to make money and profits with IQ option. If you want to make enough profit trading with this binary options broker, you must predict an asset’s price movement when the minimum trade contract expires. You must use the same withdrawal request method as your deposit. Bank transfers for most payment service providers incur small withdrawal fees for processing.

IQ Option Bonuses and Promotions

IQ Option does not offer any type of deposit bonuses because of regulations set by CySec. Fortunately, this broker offers trading competition that allows traders to compete against other traders for prizes ranging from $100 to $100,000. The minimum deposit to open a real account is USD 10/GBP. You must go through an account verification process before making your first deposit. Bank transfers are now possible from a wide range of banks, including the Government Savings Bank and China Union Pay for traders in China. 

Countries and Languages

IQ Option is available in over 230 countries. It accepts players from each country except the United States, Canada, Australia, France, Russia, Japan, Belgium, Turkey, Israel, Iran, Syria, and Sudan. These countries have strict restrictions and regulations that make it difficult for the broker to provide trading opportunities. This platform is available in 13 different languages, allowing clients from anywhere in the world to trade in their preferred language. 

Customer Support

IQ option values that the customer gets what they need. They are user-friendly and offer a 24/7 fast response and resolve all issues in under 30 minutes. This company has an extensive customer support team. For example, every trade that has a VIP account gets a personal customer service account to help with money management. You can call the IQ option support team directly or engage via live chat.

Is IQ Option A Scam?

No, it’s not a scam. We recommend it to both beginners and advanced traders. With over 41 million registered users around the world, IQ Option is not a scam. The number of active traders continues to grow every year as it processes millions of transactions per day.

IQ Option Quick Overview

IQ Option Review & Tutorial 2021 - Is This Broker Safe

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5.0 stars

Best Overall Value

  • Free demo accounts
  • Withdrawals processed within one business day
  • 54 binary options
  • 22 forex currency pairs
  • 12 CFD cryptocurrencies

Visit Broker

IQ Option Customer Reviews

At first, I was a bit irritated with the registration process (and especially, the verification part), but then I got to the point of why do they ask for some info. It’s the best approach I have seen!

Una Smith

Good to know that this app is both suitable for iPhones and Androids. No need to look for something else when changing your phone

Richard Knox

A good thing about IQ is that you don’t need to deposit money to test it. Open an account, check the testing balance, click on anything you like, and see what happens.

Ryan Wilkins

LIQ Option Service Review

Review of IQ Option

Overall Pricing and Value
98%
98%
Cost Value
90%
90%
Customer Support
94%
94%
Ease of Placing an Order
98%
98%
Included Features
96%
96%

Conclusion

IQ Option is one of the most reputable companies in the industry.  It is considered one of the highest expanding companies across the world. You can trade stocks, binary options, fx options, commodities, cryptocurrencies, and ETFs on IQ Option. Their market options are pretty diverse as they have over 10 million different digital options available. You get a demo account where you don’t have to register or provide your personal information to access it. This is an advantage of the IQ option demo compared to other brokers who require your email address to access it.

Frequently Asked Questions (FAQs)

What is IQ Option?

IQ Option is a digital trading platform that allows you to trade several financial instruments such as forex, CFD trades, stocks, commodities, cryptocurrencies, and ETFs.

Is IQ option safe?

Yes, IQ option is safe. They are a registered and regulated company by the Cyprus Securities and Exchange Commission.

Does it have a mobile application?

Yes, the company has a mobile application that works on Android and iOS operating systems. You can download this application from the Apple Store or on the Google Play store

Is IQ Option a scam?

No, it’s not a scam. It has over 41 million registered users worldwide, with the number of active users growing every year.

Do they have a live chat feature?

The company offers online chat support with an average wait time of 38 seconds.

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ABOUT THE AUTHOR

ABOUT THE REVIEWER

Jazmin Castello holds a Master's degree in Business Management, owns two companies, and has also published a self-help book. When she is not working or writing, she likes to spend time with her family and to travel.