A Full Review of IQ Option Broker – Scam or Legit?

logoIQOption is one of the most popular trading brokers, offering state-of-the-art forex and binary options trading services to its clients all over the world. Established in 2013, the broker has evolved as a true sensation for trading aspirants. IqOption has a large clientele base of more than 25 million traders.

Clients from almost all parts of the world are accepted at IqOption excluding some jurisdictions such as Australia, Turkey, Russia, Sudan, Iran, Syria, Japan, Canada, and the USA. Based in Limassol, Cyprus, the broker is fully authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC).

Trading Platform

trading platform

IQOption offers its own custom-developed trading platform that can be accessed round the clock from anywhere using one of the supported devices connected to the internet. As soon as clients sign-up at IQOption, the applications are automatically processed within 1-2 minutes and trading can be started. The broker also offers a dedicated platform for desktop traders.

In addition, a mobile-version of trading platform is also available for on-the-go traders. Clients can download mobile platform from Google Play or Apple’s app store.

Key Features of IQOption’s Trading Platform

Some main features of IQOption’s trading platform are highlighted below;

  • The operating interface of the trading platform at IqOption is very interactive and easy to use. It has many options to manage risk and optimize profitability. To help clients understand how the trading platform works, the broker has video tutorials in place.
  • Clients can view their complete trading history and assets available for trading by pressing tabs on the dashboard. There is also a leaderboard available that displays the highest trading scores by other traders. The trader of the week also gets featured in this section. Clients can also interact with other traders using the same panel.
  • The broker allows online trading in a wide range of tradeable instruments including but not limited to forex, stocks, options and digital assets (cryptocurrencies). The broker allows its clients to trade 123 Stocks (CFDs), 99 Forex pairs, 8 commodities, 59 Options, and 12 Cryptocurrencies.
  • To allows its clients to trade with full confidence, the broker offers generous leverage and competitive spreads. A leverage of 1:10, 1:500, and 1:50 is available on trading stocks, forex and commodities respectively.

IQ Option Account Types

The broker offers two types of accounts;

  • Standard
  • VIP

Let’s discuss each account type one by one.

Standard: It’s a basic account available for everyone as default. Clients can deposit an amount of $10, $30, $50, $100, $250, $500, or $1000 to have their standard account activated. All basic services that broker offers such as volatility alerts, stock screeners, newsletters, market updates, and calendar are accessible by the users in this account.

VIP Account: Clients depositing more than $3000 are ranked as VIP clients. They receive premium services and permission to trade mini and micro lots using advanced analytical and charting tools that help traders make effective and informed decisions. A support from personal account manager is also available to traders holding VIP account with IQOption. Other features of this account include increased profitability, personal tutoring, round the clock customer support, and direct calls from the broker’s trading experts.

IQ Option Demo Accounts

start trading

Keeping in view the needs of traders, IqOption also offers a demo account so clients can practice different trading and money management strategies without risking the real money. Demo accounts are equally useful for both novice and experienced traders. Novice traders learn how to trade forex and binary options without bearing any cost whereas experienced traders are able to polish their trading skills without having to worry about the trading outcomes.

Bonus Offers & Promotions:

As of this writing, the broker isn’t offering any bonus or promotional offers. However, it has an affiliate program in place which is open for everyone. Affiliate partners receive 50% of the broker’s earnings. It is pertinent to mention that affiliate programs come with strict terms & conditions that must be fully understood and accepted before start promoting IQOption.

Education

IQOption offers online resources to help its clients learn the ins and outs of professional financial trading. The broker offers a complete educational video tutorial course, covering all major and minor aspects of forex & binary options trading under Video Tutorial section. It is to be noted that, the broker doesn’t charge any fee for its educational resources. All helping materials are available free of cost at IqOption.

The broker also conducts seminars and webinars occasionally to create awareness amongst traders concerning the trading prospects and benefits one can have from getting involved into forex. Clients can also access the glossary section to understand different trading terminologies used in the financial trading world. In addition, a frequently asked questions catalog is available that answers common questions asked by newbie traders.

Additional Features

To keep traders motivated and make them feel lively, the broker also holds tournaments from time to time. As of this writing, there are four tournaments in progress namely Salary in a Day, IQ Launch, Summertime Madness, and Heat it. Entry fees of $4, $4, $20, and $5 have been stipulated by the broker to enter these contests.

The broker has recently introduced two new features “news feed” and “calendar”. Traders can use the “news feed” feature to know the latest happenings in the economic world. The calendar helps clients to stay updated and well prepared concerning the economic events coming ahead.

Deposits and Withdrawals

iqoption deposit and withdrawals

IQOption facilitates its clients by incorporating fast deposit and withdrawal methods. Clients can use their debit/credit cards to make payments to the broker. Similarly, an option to use E-wallet is also available at IqOption. Customers can also deposit or withdraw their funds using Neteller and Skrill. The broker also accepts digital payment methods. Those holding bitcoins can use them to open an account with the broker.

The minimum deposit allowed at IqOtpion is just $10. However, clients can make a maximum deposit of $1000000 in a day. Clients can invest a minimum of $1 and a maximum of $ 20,000 at the broker. There is no minimum or maximum withdrawal limit set by the broker.

To withdraw funds, clients are required to visit member’s area and press withdraw tab which is available at the top right corner of the account’s operating interface. It’s the fourth option beneath deposits. The broker takes 24 hours at max to process withdrawals.

Regulation & Security

IQOption is fully authorized and regulated by the Cyprus Securities and Exchange Commission – CySEC. The broker holds clients investment in segregated bank accounts that are maintained with investment grade-AAA banks. The broker incorporates HTTPS protocols followed by SSL encryption to protect sensitive information that passes over the internet.

Customer Support

iqoption awards

IQOption offers round the clock customer support to its clients. Clients can reach the company using multiple methods including:

  • Phone
  • Email
  • Live Chat

Those who prefer talking to the company’s officials over the telephone may call at toll-free numbers available in the contact us section. Emails can be sent to the broker at support@iqoption.com. The live web chat feature can be accessible by visiting the official website of broker www.iqoption.com. The company’s official website is accessible in 12 languages of the word other than English.

Is IqOption a Scam?

Being regulated by one of the most prestigious regulatory bodies – CySEC – IQOption is not a scam broker. The company offers low-cost deposit accounts with increased profitability potential and provides full-time customer support to its clients. Easy to use operating interface of trading platform and social trading features have their own charm. Advanced analytics and charting tools take traders experience to the next level. After a detailed review of the broker, we hereby conclude that IqOtpion is a great option to make investments as compared to its competitors.