IQ Option is one of the best-known names in the online trading industry. They got famous for a comfortable trading platform and high-rated mobile products with robust trading functionality.
Let’s take a closer look at the broker and see if it will work for your needs.
What is IQ Option?
IQ Option is a broker that has been operating globally since 2014. They started off as an options trading company, but have built a full-grown trading environment for different assets and skill levels over the years.
As for 2020, IQ Option offers the following set of assets:
| ASSET | CONDITIONS |
| Forex | Leverage up to 1:1000 |
| Binary options | Profit up to 95-99% |
| Digital options | Profit up to 900% |
| CFDs on stocks | Leverage of 1:20 |
| Commodities | Leverage of up to 1:150 |
| Cryptocurrencies | Leverage is up to 1:100 |
| ETFs | Leverage 1:20 |
Trading tools
The custom-built IQ Option platform is stuffed with various trading tools to help people maximize trading results. The tools are seamlessly embedded in the platform and easily accessible from the Traderoom.
Charting
IQ Option charts are customizable — users can choose between 4 chart types to visualize price movement: line, candles, bars, and Heikin-ashi. For bars and candles, it’s possible to select the desired time frame: from 5 seconds to 1 month.
Chart analysis
Technical analysis for traders is the same as symptom analysis for doctors. Correctly implemented analysis tools help make the right diagnosis and, consequently, the right trading decision.
At IQ Option, traders can access dozens of indicators and widgets straight from the Traderoom and apply them right on the chart.
You can access both indicators and widgets from the “Indicators” tab in the bottom left corner of the Traderoom.
Other tools
For fundamental analysis, traders can check out the in-built newsfeed on the platform — it is aggregated from reliable sources and refreshed in real-time.
On top of that, there are several calendar types on the IQ Option platform which notify traders of the important market events and good profit prospectives.
IqOption Portfolio
In the “Total Portfolio” section, users can filter their orders and keep track of their performance. The trader’s open, closed, and pending positions are accessible from the “Trading History” section of the user panel.
Minimum deposit
IQ Option has one of the lowest barriers to entry in the industry:
Minimum deposit — $10 or an equivalent amount in your account currency
Minimum investment — $1 or an equivalent amount in your account currency
Account currency options are presented by EUR, GBP, and other currencies, depending on your region.
IqOption Deposit methods
IQ Option works with the world-famous payment methods like Visa/Mastercard, Neteller, Skrill, and PerfectMoney, as well as less-famous local e-wallets and banks.
The company doesn’t charge fees for transactions; however, some payment systems can do that. Most of the time, traders use e-wallets for deposits and withdrawals because it’s faster and cheaper. You can check out which payment options are available in your region in the “Deposits” section of the website.
Deposits can be made in any currency, including Bitcoin — the system will be converted to your account currency automatically.
Withdrawal methods
Deposit and withdrawal methods usually coincide, so feel free to choose the most convenient method for both deposits and withdrawals. The full list of withdrawal methods is available on the website.
It’s important to know that while deposits are available right after the registration, withdrawals can only be made after completing the account verification.
Verification process
To fully verify your account and access 100% of the platform’s capacity, you need to verify your personal information. To do that, log in on the IQ Option website and select “Verification” from the menu on the right.
Verification requires 3 steps:
Step 1. Identity verification. Attach a scan of your passport (only the page with your photo) or ID (both sides).
Step 2. Address verification. For this step, you’ll need to take a photo of a utility bill from your address with your name on it, or other document proving your residence.
Step 3. Payment method verification. Send a copy of your card (both sides) that you’ll be using for withdrawals and deposits.
Once your documents are fully verified (usually around 3 business days), you can request withdrawals via the preferred payment method.
IqOption Accounts
IQ Option features 2 account types: Practice and Real.
As you can see, the Practice account is pre-charged with $10,000 in virtual money. You can use it to practice trading on the platform if you are a beginner and test new strategies if you have experience in the market.
You can top the demo account up to the initial amount anytime. The account doesn’t have an expiration date, which means you can trade on demo with $10,000 for as long as you want.
Both demo and real accounts have the same functionality and trading tools. Once you’re ready for the real market and the real profit, switch to the Real account in the upper right corner of the Traderoom.
IqOption Mobile solutions
IQ Option has a neat mobile app for iOS and Android devices. It’s perfect to trade forex pairs, digital options, cryptocurrencies, commodities, ETFs, indices, and stocks on the go.
The app is free and allows users to trade different instruments, deposit & withdraw, manage accounts, configure order settings, use technical and fundamental analysis tools, etc.
However, if you are looking for binary options trading opportunities, you’ll need to go for alternative software.
APK (Android Package Kit)
Binary options trading apps are not distributed in app stores since that’s against their policy. Instead, IQ Option developed an APK app, which is a direct downloader file that would install the app on your smartphone straight from the broker’s website, skipping the mediators such as app stores.
The app’s functionality is similar to that of the regular app, but with a big difference in the options trading functionality.
PWA (Progressive Web App)
A web app looks and works as a normal app but works in your mobile browser. To install the PWA, click the “Add to home screen” button in any browser. PWA app is a way to go for iOS device owners willing to trade binary options (it works on Android, too).
IqOption Tournaments
Tournaments are trading competitions for a share of a money prize — usually, $10,000-50,000 or higher.
IQ Option opens new tournaments 2-3 times a month, some of them are free, others are paid ($2-20) yet have a higher prize fund.
To join a tournament, a trader needs to:
Register a tournament account. Depending on the tournament, there will be a fixed amount of play money on the account.
Trade their best over the specified time period.
Finish on the top of the Leaderboard with the highest profit.
Thus, the participants trade with play money and get a chance to win real money prizes. The prize is withdrawable, and you can also use it for further trading.
The odds for IQ tournaments are high for 3 reasons:
The prize fund is distributed among the first 9-30 leaders instead of going to one winner.
Everyone starts with equal conditions: each tournament account has a fixed amount of money on it.
The rebuy option allows you to invest real money in case your account balance is running low. It will help you stay in the race and increases the winning odds.
Check out the ongoing tournaments in the Tournaments section of the website.
Education
IQ Option helps users learn the basics of trading to maintain long-term relationships with their clients.
Their educational toolkit includes: website video tutorials in 17 languages, a trading blog, live streams on hot topics, educational channels on YouTube and Vimeo, and a useful FAQ section where you can find answers to popular questions.
For more particular questions, users can address IQ Option’s multilingual support team.
Risk warning: trading involves risk, so you should never invest more money than you can afford. Increase your economic literacy with educational materials, learn risk management, and practice on the demo account until you’re ready to go to the real market.
Helpdesk
IQ Option communicates with its clients via 3 channels:
Online chat. You can access it from the Traderoom or from the website.
Users can write questions in their native languages and get a reply within a few seconds.
Phone. IQ Option has toll-free and regular lines for different countries. Check out if there’s a number available for your country and call them if you need a live talk.
Email. For more complex and detailed questions, email them at [email protected]. The reply usually comes within 14 minutes.
Regulation
IQ Option has an international license that allows it to offer brokerage services in many countries of the world. The firm is operated by IQ Option Ltd. and registered at St. Vincent and the Grenadines.
IQ Option in numbers
7 years
in the industry
48 million clients
in Asia, Latin America, Europe, and the Middle East
1,300,000 trades per day,
generating around $290,000,000 of trading volume per month
17 international awards
for high-quality trading apps and services
0,6 seconds
order processing