IQ Option Review 2024
Minimum
deposit:
  • $10

Trading platform:

  • IQ Option

IQ Option Review 2024

Updated:
Updated: March 12, 2024
You should never invest money that you cannot afford to lose.

6.5

/

10

TU Overall Score
The purpose of creating the TU Overall Score is to make the search for secure and reliable brokerage companies easier for the visitors of our website. We believe that it is a very important mission as, unfortunately, not every company in the financial industry is worthy of trust.

According to our idea, the TU Overall Score indicator should answer the biggest question of all: “Can I trust this broker with my money?”. The scores range within 0.01 – 9.99 (the higher the indicator the more trust the broker has). More details
Minimum
deposit:
  • $10

Trading platform:

  • IQ Option
Trading features:
  • One account dedicated to both Forex and binary options

This material is not intended for viewers from EEA countries. Binary options are not promoted or sold to retail EEA traders

Summary of IqOption Trading Company

IqOption is a moderate-risk broker with the TU Overall Score of 6.5 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by IqOption clients on our website, Traders Union expert Anton Kharitonov recommends users to thoroughly analyze pros and cons before opening an account with this broker as not all clients are satisfied with the company, according to reviews. IqOption ranks 6 among 21 companies featured in the TU Ranking, which is based on the evaluation of 100+ criteria and a test on how to open an account.

The IQ Option broker is for novice traders who are not yet ready to trade on Forex but would like to get their first trading skills.

The company was founded in 2013 and today is among the leaders in this genre thanks in large part to its proprietary platform. In 2017, the broker was awarded the highest award by the Communicator Awards.

💰 Account currency: EUR, USD, GBP
🚀 Minimum deposit: 10 USD
🔧 Instruments: CFDs on Stocks, ETFs, Commodities, Indices, Cryptocurrencies, Forex and Options

👍 Advantages of trading with IqOption:

  • convenience from a visual narrative, the platform is user-friendly for novice traders;
  • one of the highest levels of remuneration in the segment of binary options.

👎 Disadvantages of IqOption:

  • a limited number of timeframes in comparison with MT4, without the possibility of setting non-standard intervals;
  • the online platform is heavy on your computer’s RAM;
  • there is a shared offer, not all trading conditions are displayed on the website and in the personal account. You have to investigate them either through trial and error or with the help of support services;
  • there is no possibility of adding additional indicators, no algorithmic trading is provided;
  • delays in cash withdrawal.

Evaluation of the most influential parameters of IqOption

User Satisfaction Customer Satisfaction Score (CSAT) is a unique metric of Traders Union based on the analysis of user reviews posted on pages of each broker profile by the visitors of our website from all around the world. We have been collecting these broker reviews for over 13 years, and therefore, we know and understand the level of customer satisfaction with a specific brokerage company better than anyone else.

6.46

/10

Regulation and safety The score for this parameter is based on the licenses a company holds. The higher the level of the license, the higher the score. Obtaining licenses in other jurisdictions also improves a broker’s score. We divide all licenses into three levels:

Level 1 jurisdictions (high level of trust): CFTC – USA, FINMA – Switzerland, FCA — UK, ASIC – Australia, CBI – Ireland, JFSA — Japan, MAS – Singapore, FMA — New Zealand, IIROC – Canada, SFC – Hong Kong.

Level 2 jurisdictions (medium level of trust): CySEC – Cyprus, FSCA – South Africa, CBRC – China, SEBI – India, ISA – Israel, SECT – Thailand, DFSA – United Arab Emirates

Level 3 jurisdictions (low level of trust): FSC – Belize, FSC – British Virgin Islands, FSC – Mauritius, VFSC – Vanuatu, SCB – The Bahamas, BMA – Bermuda, CIMA – Cayman Islands

1.25

/10

Commissions and fees This parameter comprises a comprehensive analysis of all commissions and fees charged by a brokerage company, including trading and deposit/withdrawal fees. Also specific fees, for example the inactivity fee, are taken into account in the final score for the fees. Users can find detailed fees charged by a company in the broker’s profile.

4.93

/10

Trading instruments For this parameter, we evaluate the number of trading assets a broker offers access to in each group of financial instruments. We analyze the quotes a broker offers on Forex pairs, metals, indices, commodities, stocks, and cryptocurrencies. This parameter also includes evaluation of broker’s investment programs, for example access to copy trading, which we regard as an additional type of a trading instrument.

10.00

/10

Brand popularity Traders Union experts are confident that brand awareness mostly fully reflects the real state of affairs in a company – the more popular the broker, the more people trust it. The score for this indicator is based on the data analysis of such services as Ahrefs and SemRush, which show how often a company’s brand is searched on Google. In addition, indicators of the SimilarWeb service, which show the approximate number of visitors of the broker’s website, are also taken into consideration. We also review disclosed official reports of brokers, which allow for evaluating their client base.

9.37

/10

Customer support The score of this parameter is based on the number of available communication channels of a company’s support service. The quicker and easier it is to contact the broker’s support, the higher the score. We check every available support channel, test the speed of processing of requests and completeness of provided information through several interactions.

6.85

/10

Education This parameter provides an evaluation of a company’s capacity to work with beginners. Only quality training and provision of full and unbiased information can help novice traders and investors minimize the risks of losing money, even when working with top-ranked companies. Brokers with useful educational and informational tools, including webinars, tutorials, podcasts and articles, receive higher scores.

6.24

/10

Trade with this broker, if:

  • You prioritize high levels of remuneration in binary options trading. This broker offers one of the highest payouts in the segment, providing the potential for significant returns on successful trades.

Do not trade with this broker, if:

  • You require a variety of timeframes and customization options. This broker offers a limited number of timeframes compared to platforms like MT4 and lacks the ability to set non-standard intervals, which may restrict your trading strategies and analysis capabilities.
  • You rely on additional indicators and algorithmic trading features. This broker does not provide the ability to add extra indicators or engage in algorithmic trading, limiting your ability to implement advanced trading strategies and automated systems.

Geographic Distribution of IqOption Traders

Popularity in

37.36%
BR
Brazil
5.89%
CO
Colombia
4.85%
TH
Thailand
2.86%
MX
Mexico
1.76%
IN
India
1.66%
EC
Ecuador
1.31%
PE
Peru
0.95%
AR
Argentina
0.84%
ZA
South Africa
0.41%
AE
United Arab Emirates
31.11%
Others
Others

Video Review of IqOption i

IQ Option Latest Comments for 2023 i

54 comments
Total score:
6.2 /10

Share your experience

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jayalath
4 weeks ago

IQ Option, like most brokers, has many negative reviews. But I am sure that these are people who have lost money and therefore blame the broker. With advanced knowledge, knowing how to analyze the market properly, you can make good profits! IQ Option is a good company with one of the best trading platforms for Forex and options trading. I have communicated with customer support several times, they always respond quickly. I have never had any problems with verification or withdrawing money.

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kulangy
7 weeks ago

For trading, IQ Option can be a decent option. It has been present in the market for a long time, providing the opportunity to trade both futures assets and the regular forex market. Moreover, it's crucial that IQ Option is licensed by a regulator. I have been collaborating with this company for almost a year and haven't noticed any significant drawbacks so far.

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ajayshital
10 weeks ago

The IQ Option broker is a well-established organization with which I have been collaborating not for long, but successfully. For me, it is a reliable place to invest my capital. The assets are securely protected according to legislative norms, the account opening process is quick, and confidentiality is guaranteed. IQ Option offers attractive rates, consistent support, user-friendly trading platforms, and the ability to place orders even via phone.

Responses to a comment
kamsa to ajayshital
7 weeks ago

I trade CFDs on currency pairs. These are good assets. Plus, there are assets for trading cryptocurrencies here, which is also important for me. I am quite satisfied with IQ Option.

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guitar
13 weeks ago

I think we can confidently call IQ Option a fair and transparent broker. Fair because all commitments are fulfilled, and clients are not deceived. I have withdrawn money from here several times, everything was fine. I call IQ Option transparent because the quotes on this platform correspond to the market.

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rpmeyezddeep0cean
16 weeks ago

There are not many binary options brokers that I could trust with my money. But I trust IQ Option. I have been testing it for three years. I have traded both fast options and those with longer expiration dates. In all cases, IQ Option fully fulfilled its obligations, without manipulation.

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meganathan
16 weeks ago

As a binary options broker, IQ Option suits me well. There is a high percentage of profitability on trades, and there are no manipulations from the broker. Additionally, IQ Option also offers regular forex trading. In other words, you can practically trade various instruments with one broker.

Responses to a comment
Mehmood78671 to meganathan
14 weeks ago

I haven't seen any manipulation from the IQ Option broker either. Although the profitability percentage for some assets could be higher. But that's their business; I'm earning, and I have no complaints.

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JohnLinkovich
18 weeks ago

I rate my experience with IQ Option four stars. All conditions for comfortable trading are provided here, and considering that I have been working with them for more than a year, I can say that IQ Option fulfills its obligations reliably. Spreads are average as compared to other companies, which makes them acceptable.

Expert Review of IqOption

IQ Option has a competitive advantage due to active marketing campaigns and technological platforms. Compared to its competitors, the IQ Option platform may seem confusing, but it is ahead primarily due to its functionality. No other broker has such a set of functionalities for technical analysis, including charting tools. Few have built-in topic chats.

IQ Option is actively expanding its product range. It was not until fairly recently that Digital options with yields of up to 900% appeared in the broker's range of tools, and were also added as cryptocurrency assets. IQ Option is the first broker who combined options trading and classic Forex trading on one platform. Also, it has disadvantages. First, the company works only with residents of specific countries; clarify the restrictions with the support service. Secondly, the browser platform "lags" so you need a good computer.

In general, the company creates a rewarding experience and is worth at least opening a demo account. IQ Option has been a partner of the Union for over a year and occupies a medium rating in the Traders Union Forex brokers rating.

Anton Kharitonov

Anton Kharitonov

Financial expert and analyst at Traders Union

Editor’s Warning:

People make more money working with Forex brokers, according to our research based on the trading experience of our readers. With your best interest in mind, we would like to recommend you to consider Forex brokers and choose one of the leaders of our rating . As of today, the best broker according to TU is:

Rinat Gismatullin
Author and business expert

Best Forex broker based on expert and trader reviews

Open account
Your capital is at risk.
eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk.

Dynamics of IqOption’s popularity among
Traders Union’s traders, according to 2023 data

Logo TU
20,0%
Top 3
10,0%
Top 5
7,0%
Top 10
5,0%
Top 20
1,0%
Top 40
0,5%
Top 100
0,2%
Top 100+
0,05%
Jan.
Feb.
Mar.
Apr.
May.
Jun.
Jul.
Aug.
Sep.
Oct.
Nov.
Dec.

Investment Programs, Available Markets and Products of the Broker

Regarding the technical peculiarity of the binary options platform, investment programs are not provided at IQ Option.

Important!

If you are a large investor and plan on investments over $ 10,000, contact us at vip-invest@tradersunion.com or by the feedback form on our website. Our professional team will take you through all the intricacies of the deal and all the steps from signing up to withdrawal of profits.

IQ Option affiliate program

  • Up to 50% of the broker's profit with a payment twice per month.

Affiliate program features. Dashboard: displays statistics in real-time with advanced geo-analysis and detailing by sources, countries, registrations. Postback: tracking technology allows you to transfer statistics to the affiliate advertising network of the partner.

Trading Conditions for IqOption Users

Trading conditions at IQ Option in the segment of binary options are among the most attractive and trading conditions in Forex can be considered quite competitive. In binary trading, there are two types of options: classic and digital; Forex offers to trade stocks, currency pairs, commodity assets, cryptocurrencies.

$10

Minimum
deposit

1:500

Leverage

24/7

Support

💻 Trading platform: IQ Option (proprietary platform)
📊 Account types: There is only one account to trade on Forex with IQ Options
💰 Account currency: EUR, USD, GBP
💵 Replenishment / Withdrawal: WebMoney, Neteller, AdvCash, Skrill, Perfect Money, Visa, Mastercard
🚀 Minimum deposit: 10 USD
📈️ Min Order: $1
🔧 Instruments: CFDs on Stocks, ETFs, Commodities, Indices, Cryptocurrencies, Forex and Options
📱 Mobile trading: Yes
➕ Affiliate program: Yes
⭐ Trading features: One account dedicated to both Forex and binary options
🎁 Contests and bonuses: No
Your capital is at risk. 
You should never invest money that you cannot afford to lose.

Comparison of IqOption with other Brokers

IqOption Pocket Option Binary.com QUOTEX IQcent IQ Mining
Trading
platform
IQ Option MT5, Web, Mobile WebTrader, Mobile Mobile MT4, Web platform, Browser platform WebTrader, Mobile platforms Proprietary web platform
Min deposit $10 $50 $5 $10 $20 $50
Trading
instruments
Options, stock, Forex, Crypto, Commodities, indexes, CFDs on ETFs currency indexes, Forex, goods, stock, random index currency pairs / CFD, indices, Cryptocurrencies, Commodities currency pairs / CFD, Commodities, Options, Crypto, Currencies, Stocks Binary options, CFDs on currency pairs, Cryptocurrencies, stock
Signals No No No No Yes No
Analytical
support
Yes No Yes No Yes No
Training Yes No Yes No Yes No
Additional
tools
premature closing Copy Trading tool premature closing No Copy Trading tool No

Broker comparison table of trading instruments

IqOption Pocket Option Binary.com QUOTEX IQcent IQ Mining
Forex Yes Yes Yes Yes Yes Yes
Metalls Yes No Yes Yes Yes No
Crypto Yes Yes No Yes Yes Yes
CFD Yes No Yes Yes Yes Yes
Indexes Yes Yes No Yes Yes No
Stock Yes No No No Yes No
ETF Yes No No No No No
Options Yes Yes Yes Yes Yes Yes

IqOption Commissions & Fees

Information
Experts at Traders Union have analyzed IQ Option trading conditions for explicit and hidden commissions. It is worth noting the lack of transparency in the broker's tariff policy. In particular, there is no formula for calculating the spread, which also depends on the leverage (according to the website). Also, different spreads are indicated for the Forex and New Forex groups, causing some confusion. There is a commission for withdrawing funds more than once a month.
Account type Spread (minimum value) Withdrawal commission
General account From $1 Yes

There is a swap (commission for shifting transactions to the next day) on separate assets. A comparative analysis of IQ Option trading commissions showed that the average spread for the broker's currency pairs is about 1.7-1.9 points (the maximum is 4 points). Based on the analysis of similar indicators of its competitors, the IQ Option broker was assigned an appropriate level.

Broker Average commission Level
IqOption $17 High
Binary.com $0 Low
Nadex $1 Medium
Logo IqOption
$17
$0
$1

Detailed Review of IQ Option

IQ Option broker is one of the few brokers that has created an author’s trading platform for binary options (understandable to novice traders) and added functionality for classic Forex trading. In other words, the IQ Option browser platform uses the up/down binary trading technology and amends the ability to open trades according to the classic MT4 principle.

A few figures about IQ Option that may be of interest to traders:

  • over 80 million registered users around the world;

  • over 1.3 million transactions per day;

  • over $20 million monthly payments;

  • over 300 trading assets, including cryptocurrencies;

  • the minimum investment amount is $1 (without reference to the minimum volume of 0.01 lot).

The IQ Option broker is a perfect symbiosis between the Forex and binary options platforms

The mission of IQ Option is to constantly improve the functionality of the trading platform, optimize the order processing and the speed of their execution. Broker liquidity providers guarantee the execution of orders at a speed of up to 50 ms (for Forex trading), in binary options orders are executed according to the DD (Dealing Desk) scheme.

One of the peculiarities of IQ Option is the integration of the platform into the personal account, which allows you to trade and manage your profile in one window. A trader can open several charts on the screen (the “Chart Grid” function), working simultaneously with binary options, stocks, and CFDs. The technical analysis toolkit of the platform includes 50 indicators, 4 types of charts (including Heikin Ashi, which is not available on MT4), and over 5 graphical objects.

The IQ Option broker’s useful services:

  • “Market sentiment” indicator. Displays the ratio of sell/purchase orders at the current moment relative to the set timeframe;

  • economic calendar. Provides information on major future economic events that may affect quotes;

  • reporting calendar. Provides information on when quarterly/annual financial statements of companies are due, which may affect published stock prices.

Advantages:

1

convenient platform for simultaneous trading with binary options and CFDs;

2

the minimum transaction amount for Forex and binary options is $1.

 There is no information on the restrictions on the use of trading strategies on the IQ Option website.

How to Start Making Profits — Guide for Traders

The broker offers one type of account that allows you to make money in multiple markets at the same time.

IQ Option account features:

Account Type
Description
"Binary Options"
Classic "Up/down" options with a yield of up to 100% (in case of a correct prediction) and digital options with a yield of up to 900% (in case of a correct prediction). The minimum bid is $1;
“Forex/New Forex”
Trading with currency pairs with a minimum investment of $1 and leverage up to 1:500. The classic set of orders is available;
“Stocks/Funds ETF”
Trading with shares of world-known companies and investment in ETF

Open a demo account if you want to understand the specifics of working with an account in detail. It takes less than 3 minutes.

Bonuses Paid by the Broker

The broker strives to attract customers primarily with the quality of services and functionality of the platform, so bonus programs are not provided.

Investment Education Online

Information

You will find the basic trading training course in the form of separate video tutorials on the IQ Option website. Also, the emphasis is placed on information support, fundamental news, and analytics.

Information available in the Analysis and Education section
Unavailable information at IQ Option site
Newsfeed
Technical analysis information
Information on the shares of individual companies that are selected
Terminology glossary
Historical quotes and calendars
 
Video training
 

There is a demo account for gaining experience, confidence, familiarity with this broker’s platform.

Withdrawal Options and Fees

  • IQ Option does not set limits on the number of withdrawal requests.

  • There are several options for money replenishment or withdrawal: WebMoney, Neteller, Skrill, Perfect Money, AdvCash, Visa, Mastercard.

  • The transfer of funds is instant when withdrawing to Visa and Mastercard. The processing of an application takes from 1 to 3 days when withdrawing to other systems.

  • Withdrawal and replenishment currencies — EUR, USD, GBP.

  • Minimum withdrawal is 2 EUR/USD/GBR.

  • Withdrawal fee is 2% (1 withdrawal request per month is free).

Customers’ Support

Information

The IQ Option support team provides any support 24/7.

👍 Advantages

  • Support is available 24/7
  • Support is available in over 15 languages.

👎 Disadvantages

  • Slow to respond

There are several ways to contact customer support:

  • by phones and addresses indicated on the site;

  • via email;

  • via social networks;

  • via chat on the broker’s website;

Contacts

Foundation date 2013
Registration address Hinds Building, Kingstown, St. Vincent and Grenadines
Official site
Contacts
Your capital is at risk. 
You should never invest money that you cannot afford to lose.

Review of the Personal Cabinet of IQ Option

To reduce trading costs, start your acquaintance with IQ Option by registering on the Traders Union rebate service website (it is free and takes a few minutes). Then follow the affiliate link to the IQ Option broker website and:

1

On the IQ Option home page, click the "Register" button in the upper right corner or find the "Demo Account" button.

IQ Option - Demo Account
IQ Option - Demo Account
IQ Option - Demo Account
2

Fill out a short form with the following details: email, password, first and last name. This is enough to get access to your personal account and demo account (confirmation of the application by e-mail is not required).

The following is available in the IQ Option personal account:

3

1. General portfolio, which includes a catalog of available trading assets, information on open/closed positions. Toolkit for working with the platform is available directly from the Personal Account. Personal account - Portfolio

Personal account - Portfolio

2. Market analysis, including the Market Sentiment indicator. Personal account - Market analysis

Personal account - Market analysis

1.General portfolio, which includes a catalog of available trading assets, information on open/closed positions. Toolkit for working with the platform is available directly from the Personal Account. Personal account - Portfolio

Personal account - Portfolio

2. Market analysis, including the Market Sentiment indicator. Personal account - Market analysis

Personal account - Market analysis

There are also many other useful functions and features, like:

  • access to technical analysis tools;

  • graphs grid;

  • thematic chats and support;

  • trading history;

  • best IQ Option traders rating;

  • other sections: information on current tournaments, video reviews, help, alerts.

Disclaimer:

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

All information posted on the Traders Union website is based on reliable and objective data. We have combined our 10 years’ experience in the financial sector and the feedback of our customers to provide you with a true picture of the best forex companies in the market. Detailed information about our methodology.
IqOption Review IqOption Review

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FAQs

Do reviews by traders influence the IqOption rating?

Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about IqOption you need to go to the broker's profile.

How to leave a review about IqOption on the Traders Union website?

To leave a review about IqOption, register on the Traders Union website or you can also leave a review through Facebook.

Is it possible to leave a comment about IqOption on a non-Traders Union client?

Anyone can leave feedback about IqOption on multiple participating clients; however, Traders Union clients also receive additional payments later for working with any broker listed at the Forex market.

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