Approved broker by thatsucks.com
9.0
  • IQ Option

  • Bonus: Free Demo
  • Options Payout: see Review
  • Rating: 9.0 / 10
Broker Name: IQ Option
Platform: BO, CFD, Bitcoin
Founded: 2013
Bonus: Free Demo
Return/Refund:
75-92%*
see T&C
No. Of Assests: 500+
Regulated:   CySEC
Demo Account: Yes
Minimum Deposit: 10
US Traders:   Not Accepted

IQ Option Review

IQ Option is a prominent broker that offers Options, CFD, Cryptocurrency, and Bitcoin trading. Their services are offered by IQOption Europe Ltd inside Europe and by IQOption Ltd outside Europe.

IQOption Europe Ltd is regulated by the CySEC under license number 247/14 and headquartered at Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus. A list of countries accepted by IQ Option Europe Ltd. can be found at the bottom of this page**.

IQOption Ltd is registered in Seychelles (Reg. No. 094224) and is located at Global Gateway 8, Rue de la Perle, Providence, Mahe, Seychelles.

They offer more than 15 support centers worldwide and can be contacted via phone (UK: +44 20 8068 0760), email and live chat.

 

Is IQ Option a Scam?

IQ Option hasn’t raised any Scam suspicions so far. In fact, IQ Option is a transparent brokerage, operated by a fully regulated company that has been in business for a long time without any major “incidents”.

In addition, the broker has maintained a relatively high and stable stream of traffic to their domains: IQoption.com and eu.iqoption.com. This means that the traders are satisfied and the company is healthy with a good reputation. The broker also appears in the registry of multiple European regulators such as FCA, Consob, CNMV, and Bafin. This is a big plus because should a conflict with the broker arise, it’s easier to make a complaint against a registered company.

 

Notice! Free demo account is now available upon registering a new account at IQ Option. Take advantage of the FREE Demo Account Now!

*General Risk Warning: The financial services products offered by the company provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

 

Editor’s Note – Why IQ Option Doesn’t Suck in 50 Words

Finally, after what seems like ages, I find a brokerage that doesn’t look like a carbon copy of every other broker on the market. The company is trying to do something different starting with the website layout, the education and of course the innovative, highly functional, trading platform. They also offer a free Demo and I mean really free, without any of the shenanigans like “Deposit 100 bucks in a real account and we will give you a free demo”. I opened the Demo in about 15 seconds.

 

Why Does IQ Option Suck in 50 Words

Binary Options are limited to Call/Put (high/low) style options. That being said, Call/Put style is the most common and most used, so I don’t think there will be a lot of complaining about it and besides, they have so many other ways of trading that I’m sure you’ll find the right one for you.

 
 

Should I Open an Account with IQ Option?

Right from the start I can see I am not dealing with the usual Binary Options website that shows me a glamorous girl, a limousine or stacks of money. The first thing you will notice is that the home page is free of cheap marketing tactics and to be honest that makes me feel like I’ve accessed a trading venue, not an online casino like a lot of the other brokers on the market.

IQ Option entered the marketplace in 2013 and since then they’ve done a great job at differentiating themselves from other brokers. First of all, their platform is proprietary, you won’t find it anywhere else. The biggest advantage is the charts, where Japanese candlesticks and many other technical indicators can be used. This is a big thumbs up because as we know, usually binary options brokers severely suck when it comes to charting and additional technical tools. On top of all that, they’ve recently launched their own Cryptocurrency Exchange, allowing you not only to trade CFDs on Bitcoin but also to trade the real coin(s).

Something that many traders will be happy about is the broker’s low minimum deposit of just 10 US Dollars, and of course, the free Demo account that is really free. Registration is easy and you can start trading immediately on Demo – for a real account, your IDs need to be verified as is the case with all CySEC brokers. Traders who want to feel “special” have the option to open a VIP account for as little as $3,000 and they actually get VIP treatment: up to 92% return in the case of correct prediction.

 

IQ Option New Features 2018

IQ Option has developed into an advanced broker offering Cryptocurrencies (newly launched Crypto Exchange – more details below), FX, CFDs, ETFs and Binary Options. Each asset class is categorized according to risk and reward. For example, there are 44 FX pairs to trade; they are classified as high risk but also high reward – same as the 13 tradable Cryptocurrencies. They’ve recently introduced a large list of Stocks and thousands of ETF’s (Exchange-traded Funds) will soon follow. The latter is categorized by IQOption as low risk but low return. This is a quote taken from their website regarding ETF’s:

“EFT trading is a brand-new product and a fantastic way to expand your portfolio. ETFs work by tracking commodities, indices and baskets of assets, and are traded in the same way as common stock on the stock exchange. Investors can sell short, buy on margin and buy as little as a single share in their chosen asset.”

The best part is that your investment is protected. For example, while trading FX, you can only lose the invested amount. Your binary options trades are protected too, at any time you can close any trade which is in or out of the money to secure partial profits or cut your losses. There are also many recurring tournaments with relatively big prize pools reaching up to 50,000 – 10,000! An extra is IQOption’s blog that seems to be very up to date with interesting articles and titles to dig through such as: “Cryptocurrencies Buy & Hold vs CFD Trading. What Is Better?” or “Why IOTA Recovery Is Not a Sign of Long-Term Growth”. I see several blog posts just from the previous 24 hours which is amazing. Most brokers have an outdated and “given up” calendar or blog but this is really good material and very recent.

 

Notice: Interested in opening an account with IQ Option? Start with as low as $10!.

 

IQ Option Complaints

There are both positive and negative reviews, which are normal for such a huge broker. Some traders have lost money thanks to their own trading and simply appear to be posting angry comments while some complaint about the demo and real account being different. That’s not unusual because it’s easier to control yourself and perform better on a demo account than a live account. On the plus side, IQ Option is registered and/or regulated by authorities around the world so it’s easy to make a formal complaint if there really is an issue!

 

IQ Option Regulatory Announcements and Warnings

30.9.2016: CySec fined IQOption for various reasons that were not in accordance with the regulator’s terms. One of which included a fine for “non-compliance with section 38 of the law” which is about order execution was recently (Jan 2017) revoked by CySec once IQOption managed to prove they were acting properly.

 

IQ Option Bonus

Bonus is no longer available at IQOption in compliance with the new CySEC regulations.

 

How Long Does it Take for IQ Option to Put Money Back on my Bank?

The minimum withdrawal amount is $2 and the minimum deposit is $10. A transaction will be processed within 3 business days. The money must go to the same source they originated in order to prevent money laundering. Also, before being able to withdraw, clients have to provide identification documents, which is another practice required by anti-money-laundering rules.

The time it takes for the money to reach your account depends on the method used. Usually, e-wallet transactions are completed in one day and bank transactions in 7 to 9 working days.

Further, withdrawals can be made by just about any eWallet on the internet, which gives the fastest payouts, within hours of processing unlike CC or wires, which could take longer. Update: The full list of acceptable funding methods are: Visa, MasterCard, or Maestro, WebMoney, Skrill, Moneybookers and Neteller.

 

IQ Option Extras

Let’s talk about the elephant in the room: they are the first brokerage to launch a fully-fledged Cryptocurrency Exchange! If this is not an EXTRA, I don’t know what is. Their innovative platform can also be considered an extra feature as are the many tournaments for trading that they offer. Keep in mind that these Tournaments are subject to Terms and Conditions, just like any competition, anywhere in the world.

 

Trading Bitcoin With IQ Option

IQ Option offers a wide basket of cryptocurrencies, one of the biggest that I’ve seen on a brokerage. To make things more interesting, IQ Option just launched their own Cryptocurrency Exchange. So basically, now you have two options for “interacting” with Bitcoin and altcoins: via the exchange and via the CFD platform.

 
 

Trading Bitcoin On The Crypto Exchange

The launch of IQ Option’s Crypto Exchange is a first among Binary Options and CFD brokers! It’s a major step forward and a welcome addition. But first things first: to get to the Exchange you will have to download the Desktop version of their platform (available in the Downloads section on their website) and once you’ve done that, you will find the Exchange on the top left in the drop-down list where you would normally switch between CFDs, Binary Options, Forex, etc.

 
Learn to use IQ Option Order Book

 
The biggest difference is that you can buy the coins, not only trade CFDs on cryptocurrency. It’s very similar to the “big boys” like Binance, HitBTC, Bitstamp, etc., meaning that you have an Order Book, Trade History and you can store your cryptocurrency to sell it at a later time or you can send it to a crypto wallet.

The Exchange itself looks a lot like the regular platform but as I said above, you can see the Order Book. This is a big deal for transparency, giving you an inside look at what other people are doing and what volume is available to buy or sell at a certain price. I won’t go into technicalities, just trust me on this: seeing the Order Book is one of the core advantages of trading on an Exchange (you will find it in the top right corner – see pic).

 
IQ Option - Get on the Exchange
 

You’ll notice there are two sets of prices (Greens and Reds). The first Green price is the most expensive price at which a trader is willing to buy the coin. As you go lower you will see cheaper prices, meaning that people are willing to offer less if you want to sell them your coin. So, if you want to Sell, you will click on the highest price (first/top Green price) because obviously, you want to sell your crypto at the highest price possible.

The first (lowest in the list) Red price is the cheapest that a trader is willing to Sell. The higher you go, the more expensive the coin will be, so obviously, if you want to Buy a cryptocurrency you will select the cheapest price, meaning the one at the bottom of the Red column.

To avoid possible mistakes and all the Green/Red hassle, you can Buy or Sell at market price (the big buttons on the far right side). There’s also the possibility to place Limit Orders, meaning you can Buy and Sell at different prices than what is available right now but that’s a bit more advanced and I don’t want to make this review too complicated.

Currently, the Exchange offers 12 cryptocurrencies: Bitcoin, Bitcoin Cash, Bitcoin Gold, Ripple, Ethereum, Ethereum Classic, Litecoin, Stellar, Neo, OmiseGo, Zcash, and OTN. You don’t have the possibility to trade on margin (using leverage) but that’s normal for an exchange because you actually own what you buy so I don’t think you’ll find a brokerage/exchange that will give you two Bitcoins for the price of one.

The addition of the new Crypto Exchange is a major step forward for IQ Option as they prove once again they are true innovators and are willing to invest money and resources to establish themselves as the leaders of the industry. Some brokers just talk, IQ Option acts!

 
 

Trading Bitcoin On The CFD Platform

If you don’t feel like buying real Bitcoins or altcoins, you can simply trade Contracts For Difference on the regular platform which is available directly on the website, without any download necessary. Its features are the same as before the Crypto Exchange launch, so you will have the same user experience, nothing has changed.

If you are completely new to IQ Option, you will find their platforms very intuitive and easy to use, but keep in mind that day trading (opening multiple transactions during a day) can be tricky and risky. Of course, you could potentially make more money than just holding on to your Bitcoin and altcoins, waiting for them to increase in value, but make sure you know what you’re doing.

As a special feature, when trading cryptos, you will obtain OTN (Open Trading Network) tokens that can be either withdrawn or used to pay off your commission. Each week, IQ Option distributes a pre-arranged number of OTN tokens to all traders who made at least one commission-based crypto trade. The larger your share in the week’s commission volume, the more OTN tokens you will receive.

CFDs are also available on the downloadable version that we just spoke about so basically the Desktop version contains both CFD trading and the Crypto Exchange.

 
 

IQ Option Ratings

User Friendly 18/20

The website is available in 14 languages and that is above average but the platform can be a bit hard to get used to, especially for a new trader; however, I don’t think this will be a big problem because it’s pretty intuitive. Everything else on the website is well structured and easy to find. US traders are not accepted. Check the terms and conditions for the full list of countries that are not accepted. Demo accounts are available free of charge and without a time limit, as well as mobile applications for iOS and Android.

 

Number of assets and expiry times 16/20

They offer more than 500 assets to trade. The expiry times are very versatile, ranging from extremely fast (60 sec, 120 sec) to short-term (3 min, 5 min, 15 min, 30 min, hourly) and long-term (end of the day/week/month). New assets: 13 Cryptocurrency pairs (including Bitcoin/USD, Bitcoin/Ethereum, Litecoin, Ripple, etc.) and 44 FX pairs were added, as well as tons of Stocks. ETFs will be added soon.

On top of binary options, traders can use CFDs on most asset classes. Leverage is also available, going as high as 1:300 for FX and 1:10 for some cryptocurrencies (according to one of their support representatives).

 

Commissions, Support and Effective return 17/20

There are no commissions to use this broker, which is standard for the industry. There is, however, a dormant account fee after being inactive for 90 days in a row (50€, or the entire account balance if that is less than 50 Euro). A live chat feature is available and it’s actually pretty responsive; the supported languages are English, Russian, Turkish, German, Spanish, Portuguese, Chinese, Swedish, Korean, French, Italian, Arabic, Hindi. The effective return for a successful trade goes up to 93%, which is one of the highest in the industry. They don’t offer any refund for Out Of The Money trades.

 

Deposit, Payment and Bonus 18/20

The minimum deposit is $10. Withdrawals can be made via Visa, MasterCard, or Maestro, WebMoney, Skrill, and Neteller. Deposits are available through the same methods. The bonus is no longer available due to CySEC new regulations. Withdrawals are processed within 24 – 72 business hours. Update 2017/09: The broker does not charge any commissions or fees for the above-mentioned withdrawal methods except for wire transfer.

 

Extras 17/20

As I mentioned before, their platform is an extra on its own because it is unique. The Tournaments (Terms and Conditions apply) are another nice extra as they allow for lots of extra income, for the best traders of course. The biggest Extra by far is their newly launched Cryptocurrency Exchange.

 

IQ Option Overall Ratings + Regulated (+3) = 90/100

 
**Accepted Countries by IQ Options:” Europe ltd: Austria, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Iceland, Ireland, Italy, Latvia, Lichtenstein, Lithuania, Luxembourg, Malta, Norway, Poland, Portugal, Romania, Slovak Republic, Slovenia, Spain, Sweden, The Netherlands, United Kingdom.”

 

Get a Free demo account upon registering a new account!

 
*General Risk Warning: The financial services products offered by the company provided by this website carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.

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