IQ Option Review 2020

IQ Option is a popular and leading online broker that offers binary options, CFDs, cryptocurrency, and forex trading. Our comprehensive review includes a full rundown of the trading platform, analysis of the mobile app, plus info on how to use the demo account effectively and tips on strategy and options. Join millions of other traders and log in today.

IQ Option Trading Platform

IQ option developed their bespoke trading platform and a variety of instruments to provide clients with access to financial markets and online trading.

The platform’s interface and features are not the typical ones most binary brokers provide. It is different from the commonly used Spot Option Software used by the spot Forex trading industry. IQ Option software includes tools such as stop losses and takes profit levels- features not available at “standard” binary operators. And the firm also created a ‘Position top-up’ feature to allow trades to be kept open beyond the stop loss.

Strategy Tools

The strike price, trading buttons, price graphs, and charts are clear and intuitive. Navigation is easy; traders can switch between assets and markets. The whole layout is configurable and customizable – so traders can move multiple graphs or analysis tools where they like to suit their trading strategy.

The customizable elements to make this one of the best trading platforms in the industry.

The platform is available as a web-based hub; traders can download a version for either PC or Mac. It is also available on mobile, but the PC download has the fastest trade execution times.

At present, there is no Metatrader 4 (mt4) integration.

The software is one of the most sophisticated trading platforms around in the binary industry, particularly in over the counter (OTC) brokers. The website is open 24/7, so there are no ‘opening times.’ However, Assets will only be available to trade when the relevant market is open. Although you can trade Forex pairs around the clock and during the weekend, the US stocks can only be traded when the NYSE is trading.

Charting

The charting allows active traders to use price action patterns to find opportunities across different time frames, making correct prediction more likely.

The ability for traders to make multiple trades on the same graph is perhaps one of the useful features of the trading platform. It is helpful way when you want to employ more sophisticated trading strategies or trade signals. Turbo and Martingale strategies are more comfortable to implement when you can monitor open positions on the same chart.

The trade size varies from just $1, up to a maximum investment of $10,000 on the classic options.

Forex And Crypto Products

These are the newer products which display slightly different options based on the market being traded. For example, the forex trades will bring up leverage and stop-loss features. Assets like Bitcoin or Ethereum, traded via contracts for difference, do not have an expiry time. They do, however, have a stop loss and take profit feature. The new forex offering also delivers weekend trading possible.

The look and feel remain the same throughout the trading range, however, and all the vital information is available to the trader. So a trader used to binaries can still feel at home if they want to trade forex.

Mobile App

The mobile application is designed to tailor the product for each operating system; The IQ Option Android app has been developed only for Android devices. And iOS app has been written with the iPhone or iPad in mind and ensures it gets the most out of those devices.

There is also an ‘IQ Option for Windows’ and iOS versions.

Trading Options (CFD, Forex and Binary)

Forex and CFD trades develop the user’s choice even further. Foreign exchange can be traded per pip (in addition to binary trades), and CFDs can be traded with no expiry for longer-term. The cryptocurrency trading feature offers access to bitcoin and six other cryptocurrencies.

Forex multipliers are an innovation that IQ Option added to provide a level of leverage. The maximum multiplier now reaches an exciting x1000 – but this impacts both profit and loss. So you can magnify your trade size by x1000 to take advantage of even small moves in the currency markets.

FX Options

FX Options has been added to IQ Option list of products. It offers EU traders an alternative to binaries. With ESMA banning binaries in the EU, IQ Option wants to create a product that is similar but does not fall foul of the ban.

The options allow traders to choose their strike price and trade higher or lower from there. Payout %’s based on the price movement required for the trade to finish ‘in the money.’

CryptoCurrency Multipliers

Cryptocurrency multiples are a new vehicle introduced by IQ Option. In addition to traders having the ability to trade crypto assets using CFDs, Forex, or Classic options.

The product was so successful that IQ had expanded the offering. So multiples are now available on more cryptocurrencies, e.g., Ethereum (ETH), IOTA, TRON, and Ripple. The multipliers range from x20 to x50 and x100 on Bitcoin.

Deposit & Withdrawals

Deposits can be made using a variety of options, based on the user’s country. The popular methods include debit and credit card, e-wallets such as Skrill and Neteller and even cryptocurrencies via the Hodly service. Bank transfers via debit card remain the most popular option for European based traders.

IQ Option also lately introduced AstroPay to facilitate payments from regions that may have had fewer options in the past, such as Brazil, Argentina, or Vietnam.  IQ Option now also accept bank transfers from a wide range of 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, Rakyat Indonesia, CIMB Niaga, Negara Indonesia, Mandiri.

Vietnam – Vietcombank, Bank for Investment and Development, Techcombank, Vietin Bank, Asia Commercial Bank,  Sacombank, Donga Bank, Eximbank.

Malaysia – Supported banks include: Maybank, RHB Bank, Public Bank, Hong Leong Bank,  CIMB Bank, AmBank

South Africa – supports new payment methods like Perfect Money  including South America (Argentina, Brazil, and Colombia)

China Union Pay – a payment solution for traders in China, Taiwan, Hong Kong or Macao

Is it safe to do business with IQ Option?

It is safe to deposit with IQ Option. Deposit errors are rare, and the support desk can usually help if users encounter issues.

Withdrawals can be made using the same list of methods. Verification is often required before a withdrawal method can be used, and withdrawal proof remains in the user area for the lifetime of the account for auditing, etc. 

Account Type

• Standard account – requires just the minimum initial deposit of $10. The basic account includes, withdraw options and functionality as the higher level accounts.
• VIP Account- The trader needs to deposit $3000 or more in one deposit. Benefits include Higher Payouts, Entry to larger tournaments, with prizes up to $100,000 and Educational materials are exclusive to VIP account holders.

Payouts

In term of returns on investments, the standard payouts offer very competitive rates.  Traders can earn up to 91% payout in the case of a successful trade, under the right circumstances. These payouts will depend on the asset and expiry time selected. The 91% “headline” payout is among the best offered in the industry. Note the term ‘profit percentages’, does not mean guaranteed profits, simply the profit made for a single trade when it is successful.

 Forex And CFD

Payouts on products such as Forex and CFD trades will be based on the performance of the underlying asset. The spreads on foreign exchange and CFD trading are competitive too. So the costs or fees of doing business with IQ are low, and certainly on par with the larger, established online brokerages. The practice account is an excellent way to experiment with other asset types, risk-free.

History

Established in mid-2013, one of the most reputable and innovative binary brokers in the industry. Their reputation is also enhanced by various awards that they have won from a range of industry reviewers. The list of awards shown on their website are reputable comparison sites and confirm their credibility.

The firm operates in an obvious way, to maintain their reputation and user confidence, for example:

• Free Practice / Demo Account – This runs in parallel to the real money account and is not time-restricted. A demo download is available, but traders can also use the full, mobile-friendly, website.
• Offers – Deposit match bonuses have been dropped entirely due to CySec and ESMA rules. The regulator considered this type of bonus as being high risk, so IQ had stopped offering them.
• Hedging – This should act to reassure traders who are afraid of ‘over the counter’ brokers. The IQ Option actively manages its risk.
• Support – is offered in a variety of languages, and it includes live chat for fast resolution. Any issues like to Unblock, Delete or Close account users need to contact telephone support.
• News – The user area supports Event Calendars and news developments.

Demo Account

The Demo/Practice account is the best demo account IQ Option has to offer in the industry. It can also run with the real money account- not “instead of” This allows real money traders to change into the demo account to strategized without risking real money. It is the most flexible and risk-free demo account available. It offers a low minimum deposit.  It attracts and demonstrates real confidence to new traders.

Countries

IQ offers to trade in a range of countries, and it also supports multiple languages. In 2014, the firm operated in 18 countries and in 2016 it was up to 178. However, trading with IQ in some countries is not possible due to local laws and regulations. So traders from the USA, Canada, and Australia are not authorized to open accounts at present.

Began operating in Europe, the UK (United Kingdom) is one of the largest trader ‘bases’ for the brand, followed by other European trading hubs, such as Germany and Sweden.

The firm is also growing rapidly in Asia; recently, they have added multiple regions to their list, including Malaysia, Singapore, Thailand, India, Pakistan, and the Philippines.

Other areas in Africa are Ghana and Nigeria, which are showing large numbers of new traders. This growth is aided partially by a ‘softer’ regulatory regime. With a reliable brand such as IQ Option, this works well. Same reasons have led to marketing pushes in UAE, Brunei, and even Japan.

Traders from these regions can now register at IQ Option. The login process is swift, and the demo account sign up requires only an email address. The minimum deposit is just $10 – which is the lowest in the industry. The minimum trade is equally small, at just $1 per trade.

Tournaments

There are trader tournaments across the trading platform. These are a competition based on trading success with a leaderboard, a method by the broker to encourage trading. These are an excellent way for traders to compete against each other and create a lot of interest.

Often there are substantial prizes for the winners of these competitions like the cash rewards and unique prizes, like the recent Aston Martin race day experience. The traders get the chance to enjoy a race day in one of the sponsored Aston Martin Racing cars. These tournaments increase the customer friendly feel promoted by the firm.