IQ Option review (2022) Review
IQ Option is an online broker offering binary options, CFDs, cryptocurrency and forex trading since 2013. They accept a minimum deposit of $10, they offer a demo account and regulated. They have many awards, for example, an Award of Excellence, Gold ERA Award and Best Binary Options Broker Europe. Their platform is well designed and downloadable on any device. They also have 24/7 support and a demo account.
- Regulation – CySEC
- Min. deposit – $10
- Leverage – 1:30
- Spread – variable
What can be traded with IQ Option
IQ Option has frequently added to the portfolio of basic assets. They offer 90+ different assets to trade. CFDs on Forex, Exchange Traded Funds (ETF), Stocks, Cryptocurrencies, Indices and Digital Options and you can choose from two types of accounts: Standard and VIP trading account.
Since 2013, they have won many awards for their quality and reliability. As indicated on their website, they are registered in Cyprus, the parent company “IQ Option Europe ltd” has a CySEC licence. Traders trading are also protected under the provisions of the MiFID.
They offer a virtual account for free and requires no deposit, and there are no time restrictions on this account. You can refill your account balance to $10000 with virtual money, so your money is not at risk. To open one, you simply click on the CTA button on the main page. Simple to find and fill in.
Compared to other brokers, IQ Option is quite transparent about its fees. General fees are found on their website, on a document, which outlines all relevant fees for IQ Option Europe Ltd.
- There are no withdrawal fees on most payment service providers.
- On cryptocurrency trades, a commission of 2.9% is be levied.
- Fees are charged for certain trades held overnight. They vary from 0.1% to 0.5%.
- Where an account is inactive for 90 days, a charge of €10 will be made each month until the balance is zero.
- They offer commission-free trading
- The EUR/USD commences with a mark-up of 0.4 pips
So, I have decided to register for a demo account and start with IQ Option. Unfortunately, I cannot open an account in my region.
IQ Option trading platform
Their trading platform can be downloaded on smartphones, tablets, IOS or Windows. Their platform offers a variety of financial instruments and received many awards for its features and capabilities. It`s user-friendly and its tools include multi-chart layouts, technical analysis, economic calendars, stock screeners, historical quotes, volatility alerts and market updates. And it’s available in 13 languages. I`m disappointed with the fact, I can`t try out IQ Option.
The broker’s website
The website is standard I`d say. No special effects, nothing “jumping around” or “flashing”. I found all information easily and thumbs up for how transparent IQ Options is. You can register from the main page for a live account or a demo account. In the top pane you can choose from:
- For traders
- About us
In the “trade” section you`ll find information about what can be traded. The “for traders” section is much more interesting as it offers:
- Stock collection
- Video tutorials
- Contact options
IQ Option has many forms of customer support like email, telephone, but no online chat. I`m missing some educational webinars, but traders can notably benefit from the IQ Option News Feed.
They have active accounts on Facebook, Twitter, Instagram. They aren`t active every day, but they are not idle. They post news, analysis, facts or even interactive posts for you to join in a discussion.
You can find the same content on Twitter and Instagram, which is fine. They offer several ways to be in touch with them.
Advantages and disadvantages
IQ Option is a regulated broker, which offers a wide range of investment options, with competitive fees. Their platform is said to be easy to use and their website is transparent intuitive too. What I was disappointed about was, that I can`t actually open an account and no fixed spread accounts.
- Demo account
- Many awards
- Large range of trading instruments
- Many countries cannot be registered
- No fixed spread accounts
- No webinars
- Bank transfers have a 50 USD withdrawal fee
Pros / Cons