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
- $50
- Proprietary web platform
- Active trading can be combined with copying trades and cryptocurrency mining
Our Evaluation of IQ Mining
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
IQ Mining is a broker with higher-than-average risk and the TU Overall Score of 4.26 out of 10. Having reviewed trading opportunities offered by the company and reviews posted by IQ Mining clients on our website, Traders Union expert Anton Kharitonov recommends users to consider a more reliable broker with better conditions, as, according to reviews, many clients of this broker are not satisfied with the company’s work.
IQ Mining is a CFDs, Forex, and binary options broker that also offers cloud mining services to generate passive income from cryptocurrency mining. It offers options with different expiration dates, so it is suitable for both short-term and long-term trading.
Brief Look at IQ Mining
IQ Mining is a broker for trading Forex, CFDs, and binary options. It also allows its clients to earn by mining cryptocurrencies and copying trades of experienced traders. The company has been successfully operating for more than 4 years. It supports more than 15 payment systems and it charges neither trading fees, nor fees for depositing and withdrawing funds. The choice of assets at IQ Mining is quite extensive. Traders who trade different assets, such as CFDs on stocks, digital and fiat currencies can work with this broker. Trades with leverage, short and long positions, and one-click trading from charts are available on the company's web platform.
- The initial fee is $50;
- Opportunity to trade options with different expiration dates;
- A wide range of assets, especially currencies, and cryptocurrencies;
- Possibility to trade with leverage or with money from the pledge of a paid contract for digital coins mining;
- Different investment solutions such as cryptocurrency mining, copy trading, and a partnership program.
- The initial fee is $50;
- Opportunity to trade options with different expiration dates;
- A wide range of assets, especially currencies, and cryptocurrencies;
- Possibility to trade with leverage or with money from the pledge of a paid contract for digital coins mining;
- Different investment solutions such as cryptocurrency mining, copy trading, and a partnership program.
TU Expert Advice
Author, Financial Expert at Traders Union
IQ Mining provides trading Forex, CFDs, and binary options, along with cloud mining services for cryptocurrencies. It operates on a proprietary web platform and supports various account currencies, including cryptocurrencies. The minimum deposit is $50, and traders have access to a wide range of assets, leverage, and the ability to trade currencies, cryptocurrencies, and stocks. The platform also offers options with different expiration dates, facilitating both short-term and long-term trading strategies.
However, IQ Mining does face several drawbacks. The broker is registered in the Marshall Islands, without top-tier regulatory oversight, raising significant concerns for traders. The absence of demo accounts and comprehensive educational resources may not support novice traders well. Processing times for withdrawals can vary, and withdrawal fees for international bank transfers stand at $50. Therefore, while IQ Mining may suit experienced traders interested in crypto and binary options, it may not be ideal for beginners or those seeking extensive regulatory assurance.
IQ Mining Summary
Your capital is at risk. CFDs are considered complex derivatives and may not be suitable for retail clients. CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money. The products mentioned here may be affected by changes in currency exchange rates. If you invest in these products, you may lose some or all of your investment, and the value of your investment may fluctuate. You should never invest money that you cannot afford to lose and never trade with borrowed money.
| 💻 Trading platform: | Proprietary web platform |
|---|---|
| 📊 Account types: | Real |
| 💰 Account currency: | USD, EUR, BTC, ETH, and other cryptocurrencies |
| 💵 Deposit / Withdrawal: | Visa/MasterCard, bank transfer, Perfect Money, Qiwi, Yandex.Money, WebMoney, Bitcoin, Litecoin, Ethereum, DASH, USD Coin, Tether, Zcash, etc. |
| 🚀 Minimum deposit: | $50 |
| 📈️ Min Order: | $1 |
| 🔧 Instruments: | Binary options, CFDs on currency pairs, stocks, and cryptocurrencies |
| 📱 Mobile trading: | Yes (the web platform works on mobile devices) |
| ➕ Affiliate program: | Yes |
| ⭐ Trading features: | Active trading can be combined with copying trades and cryptocurrency mining |
| 🎁 Contests and bonuses: | Bonuses for mining package payment |
IQ Mining offers trading the simplest put/call binary options. Turbo contracts are available for fast trades with a 1-minute expiration date. The minimum initial fee when crediting funds in cryptocurrency and from bank cards is $50; when using a bank transfer, it is $5,000. Funds deposited by bank transfer are credited to the account within 1 business day. If other means are used, the funds are credited within 1-3 days. The amount of leverage varies depending on the type of asset.
IQ Mining Key Parameters Evaluation
Share your experience
- Best
- Last
- Oldest
Trading Account Opening
Stages of creation and activation of a user account on the IQ Mining website:
First, start the registration process. Click the Sign Up button at the top of any page of the company's official website.
After that, fill out the registration form, indicating your first and last names, phone number, and email. It is also mandatory to generate a secure password. The password and email are needed to access your user account. Press the Sign In button on any page of the website to begin authorization.
The following actions are available in IQ Mining’s user account:
Other functions of the user account:
-
Trading history for binary options and CFDs;
-
Submitting a withdrawal request;
-
Choice and payment of a tariff plan for cryptocurrency mining;
-
Automatic reinvestment settings;
-
Statistics of payments for cryptocurrency mining;
-
Pledge of a mining contract to receive additional funds;
-
Charting tools and fresh analytics for different markets.
Regulation and safety
IQ Mining is a trademark of Tunewo Limited. It is registered under the number 103582 in the Republic of the Marshall Islands.
The broker does not have a license and regulators, but it operates in accordance with the AML (the Anti-Money Laundering) policy. All clients go through the Know Your Client (KYC) procedure. A user account is secured by two-factor authentication.
Advantages
- Leverage with IQ Mining is higher than that of regulated brokers
- Payments in digital currencies are allowed
- Simple procedure for account opening
Disadvantages
- The broker is not a member of a compensation fund
- Clients’ complaints are handled within the company
- Traders have no access to the financial reports of IQ Mining
Commissions and fees
| Account type | Spread (minimum value) | Withdrawal commission |
|---|---|---|
| Real | $1 | Withheld by banks |
The company charges a swap fee for keeping a position open overnight. The fee is 0.07% of the face value of the transaction.
The comparative table below shows the analysis of the fees of three binary options brokers, IQ Mining, VideForex, and IQcent, conducted by Traders Union experts.
| Broker | Average commission | Level |
|---|---|---|
|
$1 | |
|
$5 | |
|
$7 |
Account types
To trade binary options with IQ Mining, it is necessary to register on its website and pay at least $50 of the initial fee. If traders plan to earn more on cryptocurrency mining, they must choose one of five tariff plans and pay a subscription fee.
Account types of IQ Mining:
The broker does not provide demo accounts.
IQ Mining offers a universal account type for any strategy and trading assets.
Deposit and withdrawal
-
The IQ Mining finance department processes all submitted withdrawal requests within 1 hour. However, there may be delays when large amounts are requested or there are problems with the identification of a client;
-
Money is withdrawn within 5-6 business days. Available withdrawal methods are bank transfer, e-wallets, and cryptocurrencies;
-
Funds are withdrawn the same way that the client used to make the deposit. If the money was credited from Visa/MasterCard, the funds can be withdrawn to a bank account or to a MasterCard specially issued at the request of the client;
-
If the amount requested by a client is more than $1,800, the finance department will request notarized or certified post office copies of documents confirming the client’s identity and his place of residence;
-
The withdrawal fee for international bank transfers is $50.
Investment Options
The IQ Mining trading platform provides the opportunity to earn passive income. Traders themselves choose a better variant. If traders’ priority is operations with cryptocurrencies, they can make a profit on their mining, as well as on copying trades. For traders who prefer other assets, copy trading is available. Moreover, IQ Mining offers a partnership program with simple conditions. It can also help traders earn extra income.
Cloud mining service and copy trading are investment programs from IQ Mining
Clients of IQ Mining can earn passive income on cloud mining of cryptocurrencies. Traders need to choose one of 5 tariff plans and the period during which they will pay for the subscription and make a profit. The contract can be signed for 1, 2, 5 years, or for a lifetime. The longer the term, the less the subscription costs.
Available mining contracts:
SHA-256. The potential annual profit is $93-$104. Income is accrued in Bitcoin (BTC). The promotional cost of the annual subscription is $50. The maintenance fee is $0.0003;
SHA-256 PRO. The cost of the annual subscription is $61. The approximate profit is $98-$157. The IQ Mining maintenance fee is $0.0004. The profit currency is BTC;
SHA-256 BCH. The annual subscription costs $61. Income ranges from $133 to $157 and is calculated in Bitcoin Cash (BCH). Payment for maintenance is $0.0004;
USDT. The annual subscription price is $102. The potential income is 118%-157%. The maintenance fee is $0.0001, and profits are credited in Tether (USDT);
Ethereum. The forecasted annual income is $18-$92. The cost of the annual contract is $39. The maintenance fee is $0.00013, and the payout currency is Ethereum (ETH).
Also, IQ Mining clients can receive passive income by copying trades with binary options, Forex, and CFDs. The option becomes available after paying the $50 initial fee. The list of signal providers and the button for copying their strategies are in the trading platform.
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.
Partnership program from IQ Mining:
Referral program. The partner receives 10% of the price of each mining contract bought by the referral. For example, if a contract costs $100, the partner’s fee will be $10.
Any client of IQ Mining can participate in the referral program. There are no requirements for the minimum number of referrals, fees are charged for the first invited trader.
Customer support
The broker's support service works 24/7.
Advantages
- Communication with live chat operators is available
- Support is active 24/7
Disadvantages
- Few communication channels
- The responses of many live chat operators are not very informative
Communication channels with IQ Mining support are as follows:
-
live chat;
-
email.
The live chat button is on the website and in your user account.
Contacts
| Foundation date | 2016 |
|---|---|
| Registration address | Trust Company Complex, Ajeltake Road, Ajeltake Island, Majuro, Marshall Islands MH96960 |
| Official site | https://iqmining.io/ |
| Contacts |
+44 1224 459763
|
Education
IQ Mining specializes in cryptocurrency mining, so the training materials on its website are dedicated to this topic. Support and Knowledge Base are two blocks allocated for educational materials. You can access them in the footer of the website.
There is no training on binary options trading on the IQ Mining website. Also, the broker does not offer demo accounts, which is a disadvantage for novice traders.
Comparison of IQ Mining with other Brokers
| IQ Mining | Pocket Option | Binarium | Binary.com | Capitalcore | VideForex | |
| Trading platform |
Proprietary web platform | MT5, Web, Mobile | Binarium | Deriv Trader, MT5 | Binary platform for web and mobile | Proprietary platform, Mobile platforms |
| Min deposit | $50 | $5 | $5 | $5 | $10 | $50 |
| Trading instruments |
Binary options, CFDs on currency pairs, Cryptocurrencies, stock | currency | indexes, Currencies, Cryptocurrencies | indexes, Forex, goods, stock, random index | stock, Forex, Binary options, Stocks | Commodities, Currencies, Options, Stocks, Crypto, currency pairs / CFD |
| Signals | No | No | No | No | No | Yes |
| Analytical support |
No | No | No | Yes | No | Yes |
| Training | No | No | No | Yes | No | Yes |
| Additional tools |
No | Copy Trading tool | No | premature closing | No | Copy Trading tool |
Detailed review of IQ Mining
IQ Mining is a broker that has been operating since 2018. It allows traders to combine income from cryptocurrency mining, trading financial assets, and copy trading. The company offers a large choice of currency pairs, digital coins, and stocks. They can be traded in two formats, which are CFDs and binary options. For these purposes, the broker offers a universal web platform with two types of charts: Tick chart and Candle chart. Margin trading with leverage is available.
IQ Mining by the numbers:
-
More than 4 years of experience;
-
The total amount of payouts is more than $260,000,000;
-
Average time for email responses is 3 minutes;
-
Passive income period on mining is from 1 year to infinity.
IQ Mining is a broker with options payouts of up to 95%
More than 20 currency pairs can be traded through IQ Mining. The leverage for the most liquid of them is 1:100. The minimum leverage for cryptocurrencies and stocks is 1:3. Payouts are 20%-75%, but they can be increased up to 95% (the split depends on the market situation). When trading binary options, traders can buy calls and puts with different expiration dates, from one minute to one month. IQ Mining makes it possible to pledge the purchased mining contract and instantly receive funds equal to its value. Thus, traders can increase their equity in manual or automatic trading on different markets.
IQ Mining offers its clients a proprietary platform. It is similar to the platforms of other binary options brokers and is easy to use, so a trader with any trading experience can understand the interface. The IQ Mining web platform works through a browser, thus it does not need to be downloaded and installed on your device. The platform supports two-factor authentication, chart trading, and switching between markets (CFDs and binary options) at the touch of a button.
Useful services offered by IQ Mining:
-
Current analytics. The trading platform has fundamental data, market reviews, an economic calendar, and trading ideas. All data is provided free of charge;
-
Automatic reinvestment. A service for traders who are engaged in cryptocurrency mining. You can choose what part of the profit will be withdrawn, and what part will be included in the reinvestment.
Advantages:
Daily payouts for mining digital assets;
Functional trading platform with a clear interface;
Passive income without active trading;
Low cost of cryptocurrency mining plans, permanent discounts, and opportunity to buy a contract at a promotional price;
No fees for depositing and withdrawing funds.
IQ Mining does not withhold fees from the trader's profit. The broker also gives away presents to its clients and provides diverse analytics and flexible leverage.
Articles that may help you
Check out our reviews of other companies as well
User Satisfaction i