IQ Option—a well-known European binary options broker is owned and operated by the Iqoption Europe Limited group. The company offers great benefits to new traders, such as free demo accounts and a user-friendly IQ Option app that provides great tips.
They’re based in Yiannis Nicolaides Business Centre at Limassol, Cyprus. The company deals in 79 assets including stocks, indices, commodities (silver and gold), bitcoins and currency pairs (AUD/CAD, EUR/USD, GBP/USD).
First-time traders seek complete information regarding a trading platform, bonus, deposit and withdrawal methods, login accounts, tutorial videos and payoffs. This review covers extensive information on IQ option and whether it’s a scam (it’s not, by the way).
Is IQ Option a Scam? (Salient Features, Market Reputation & Benefits Associated with the Company)
After extensive research, we conclude that IQ Option is a fair and transparent brokerage regulated by the CySEC (Cyprus Securities and Exchange Commission). Their license number is 247/14. Moreover, they’ve listed valid phone number (+44 20 8068 0760), address and email address (support@iqoption.com) on their ‘Contact Page’.
Both their domains (IQoption.com and eu.iqoption.com) receive high traffic, which denotes that traders are satisfied with the company performance. The brokerage has very few complaints registered against them, which shows they own a solid reputation in market.
Trading Platform, Trading Options & Software Features
The firm lays down precise terms and conditions for trading. They’re clear on:
- Hedging: They actively manage risks to prevent huge losses for their traders.
- Customer Support: They’ve live chat options to resolve complaints and typically response within 24 hours.
- Trading Platform: IQ has developed a global platform to provide their customers quick access to financial markets. Their cutting-edge trading platform is used by the Spot Forex trading people. Refreshing user interface, sophisticated software and availability of four trading layouts (Bar, Area, Candlestick and Line) make it simpler and easily comprehensible.
Traders can choose timescale for charts in 18 different intervals. You can use technical features for market analysis and drawing tools to plot trends on live charts. You can make multiple trades on a single chart—a handy feature for large-scale traders.
- Trade Size & Tutorials:
Trade size ranges from £1 to £10,000. The site provides tutorial videos and demos covering different aspects of trading. They’ve wide-ranging tutorials that will help new traders build confidence.
Bonus and Promotion Offers
Keeping in line with the CySec rules, the firm dropped its deposit match bonuses last December. If IQ regulators are to be believed, such bonuses impose high risks.
The firm runs VIP offers (exclusive offers for VIP customers). To attain the status of a ‘VIP trader’, you need to deposit at least £3000 at a time. Once you reach this level, you can avail these benefits:
- Free entry to large trading tournaments
- A golden chance to win prizes worth £100,000
- Educational Tips and Tricks to make money
- High payouts (Like +3% on Google trades and FTSE)
Mobile App
The IQ Option offers a seamless mobile trading experience to its customers via bespoke trading platform. Their app displays a spacious trading area with buttons, menu icons and detailed information. Their app is available in iOS as well as Android formats. There’s a special “IQ Option for Windows”—it works Windows compatible devices. The apps are available on Google App store and Apple Store.
Types of Accounts Offered
The company offers free demo accounts and VIP accounts for trading.
Payouts
- Payout% Rate: Up to 91%
Talking in terms of returns on investments, the company offers competitive rates on standard payouts. In normal conditions, on an average, traders get up to 91% payouts on a successful trade—the best rates offered in trading industry. The rates fluctuate on the basis of asset type and expiry period.
The brokerage hasn’t set limits on withdrawal, but the minimum deposit limit is £10 for read accounts and £300 for VIP accounts. Users can make deposits and withdrawals via e-wallets, credit cards and wire transfers. Neteller, Skrill and WebMoney are most used modes of money transfer. Withdrawals take up to 1 to 3 days to get processed. The transactions get processed within 24 hours on weekdays.
The clients need to use the same mode of payment to prevent money laundering. The company lays down strict anti-money laundering rules. Therefore, you need to provide relevant bank details to process your payments.
Trade Regulations
As mentioned earlier, IQ option Europe Limited is managed by Infofield Premier Ltd (a registered organisation having valid registration number: HE324593). Their sister company Investlab Holdings Ltd is registered as HE327751. All operations of both companies are licensed by CySEC, which means the traders are protected under the provision of MiFID.
Details of Demo Account
Demo accounts work in parallel to any normal account with real-time deposits. They don’t have any time restrictions. IQ Option provides a free demo account (no deposit) for traders to hone their skills. The account can be used on a long-term basis and a balance worth £1000 can be restored to it.
You can run it alongside real money accounts. The most common advantage of a demo account is it allows traders to try new strategies and swap accounts without risking real money. It’s a risk-free, minimum-deposit offering. Probably this is why IQ option traders have grown in such a short time span.
The registration and login process is quick. Users require an email Id for registration. Minimum trade is low (£1) therefore traders don’t have much to risk.
Countries Available
IQ Option supports 13 languages: English, Chinese, Russian, Portuguese, Spanish, German, Turkish, French, Swedish, Indonesian, Italian and Arabic. In 2014, their trade kicked off with 18 countries. In just two years, they spread their operations to 178 countries around the world. Nevertheless, due to regulations on local laws, IQ trading is not available in Australia, Canada and US.
They have a flourishing business in Europe, UK, Sweden, Germany and Asia, mainly in India, Thailand, Malaysia and Singapore.
Final Verdict
The Good:
After a long time, we found a company which provides fresh real-time trading options. Their website, app or terms and conditions don’t look like a carbon copy of other companies. The trading platform supports live chat and information in 13 different languages. Their demo account and payout% is favourable. The login and verification process is quick and trading is hassle-free without any hidden shenanigans.
The Bad:
Expiry of options is quick (they usually expire within 24 hours). They have a short list of assets, suitable for intra-day traders.
Overall, the website seems like an excellent option for new option traders.