deposit:
- $50
Trading platform:
- Proprietary web platform
- Active trading can be combined with copying trades and cryptocurrency mining
Summary of IQ Mining Trading Company
IQ Mining is a broker with higher-than-average risk and the TU Overall Score of 4.68 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 ranks 19 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.
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.
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.
💰 Account currency: | USD, EUR, BTC, ETH, and other cryptocurrencies |
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🚀 Minimum deposit: | $50 |
🔧 Instruments: | Binary options, CFDs on currency pairs, stocks, and cryptocurrencies |
👍 Advantages of trading with IQ Mining:
- 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.
👎 Disadvantages of IQ Mining:
- 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.
Evaluation of the most influential parameters of IQ Mining
Geographic Distribution of IQ Mining Traders
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Expert Review of IQ Mining
IQ Mining is a broker that is suitable for both actively trading financial instruments and passively investing. With this company, traders get access to currency and cryptocurrency markets, and stocks in the CFD format. The profit split for binary options on currency pairs is up to 75%-95%. The split does not change with an increase in the deposit, so all clients, regardless of their equity, trade on equal conditions.
Unfortunately, the broker has not adapted its website and services for novice traders. One of the main disadvantages of IQ Mining for novice traders is the absence of demo accounts. Moreover, the broker’s website does not have a demo mode of the trading platform, like many other companies. The trader cannot view the types of available options, the range of assets, and the profit split. Moreover, there are no educational materials on trading on the website. All attention is focused on the mining of digital coins.
The IQ Mining trading platform is not much different from those of other brokers, so an experienced trader will need very little time to master it. Another plus is the wide choice of payment systems. Clients can deposit and withdraw money using cards, bank transfers, cryptocurrencies, and e-wallets.
Dynamics of IQ Mining’s popularity among
Traders Union’s traders, according to 2023 data
Investment Programs, Available Markets and Products of the Broker
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.
Trading Conditions for IQ Mining Users
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.
$50
Minimum
deposit
1:100
Leverage
24/7
Support
💻 Trading platform: | Proprietary web platform |
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📊 Account types: | Real |
💰 Account currency: | USD, EUR, BTC, ETH, and other cryptocurrencies |
💵 Replenishment / 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 |
Comparison of IQ Mining with other Brokers
IQ Mining | Pocket Option | Binarium | Binary.com | Intrade Bar | Binarycent | |
Trading platform |
Proprietary web platform | MT5, Web, Mobile | Binarium | WebTrader, Mobile | Mobile MT4, WebTrader | Webterminal |
Min deposit | $50 | $5 | $5 | $5 | $10 | $250 |
Trading instruments |
Binary options, CFDs on currency pairs, Cryptocurrencies, stock | currency | indexes, Currencies, Cryptocurrencies | indexes, Forex, goods, stock, random index | Currency pairs | currency |
Signals | No | No | No | No | Yes | No |
Analytical support |
No | No | No | Yes | Yes | No |
Training | No | No | No | Yes | Yes | No |
Additional tools |
No | Copy Trading tool | No | premature closing | No | Chat support, Copy Trading tool |
Broker comparison table of trading instruments
IQ Mining | Pocket Option | Binarium | Binary.com | Intrade Bar | Binarycent | |
Forex | Yes | Yes | Yes | Yes | Yes | Yes |
Metalls | No | No | No | Yes | No | Yes |
Crypto | Yes | Yes | Yes | No | No | Yes |
CFD | Yes | No | No | Yes | No | Yes |
Indexes | No | Yes | Yes | No | No | Yes |
Stock | No | No | Yes | No | No | Yes |
ETF | No | No | No | No | No | No |
Options | Yes | Yes | Yes | Yes | Yes | Yes |
IQ Mining Commissions & 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 |
IQ Mining | $1 | Low |
VideForex | $5 | Medium |
IQcent | $7 | High |
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:
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More than 4 years of experience;
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The total amount of payouts is more than $260,000,000;
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Average time for email responses is 3 minutes;
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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:
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Current analytics. The trading platform has fundamental data, market reviews, an economic calendar, and trading ideas. All data is provided free of charge;
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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.
Guide on how traders can start earning profits
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.
Investment Education Online
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.
Security (Protection for Investors)
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
Withdrawal Options and Fees
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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;
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Money is withdrawn within 5-6 business days. Available withdrawal methods are bank transfer, e-wallets, and cryptocurrencies;
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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;
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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;
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The withdrawal fee for international bank transfers is $50.
Customer Support Service
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:
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live chat;
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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 |
Email:
support@iqmining.com,
Phone: +44 1224 459763 |
Review of the Personal Cabinet of IQ Mining
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:
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Trading history for binary options and CFDs;
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Submitting a withdrawal request;
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Choice and payment of a tariff plan for cryptocurrency mining;
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Automatic reinvestment settings;
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Statistics of payments for cryptocurrency mining;
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Pledge of a mining contract to receive additional funds;
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Charting tools and fresh analytics for different markets.
Disclaimer:
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.
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FAQs
Do reviews by traders influence the IQ Mining rating?
Any review can raise or lower the rating of any broker in the general list of brokers. To read reviews about IQ Mining you need to go to the broker's profile.
How to leave a review about IQ Mining on the Traders Union website?
To leave a review about IQ Mining, register on the Traders Union website or you can also leave a review through Facebook.
Is it possible to leave a comment about IQ Mining on a non-Traders Union client?
Anyone can leave feedback about IQ Mining 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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