You should never invest money that you cannot afford to lose.
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
- $10
- IQ Option
- One account dedicated to both Forex and binary options
Our Evaluation of IqOption
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
IqOption is a moderate-risk broker with the TU Overall Score of 5.66 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.
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.
Brief Look at IqOption
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.
- 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.
- 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.
TU Expert Advice
Financial expert and analyst at Traders Union
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.
- 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.
- 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.
IqOption Summary
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.
| 💻 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 |
| 💵 Deposit / 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 |
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.
IqOption Key Parameters Evaluation
Video Review of IqOption
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Trading Account Opening
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:
On the IQ Option home page, click the "Register" button in the upper right corner or find the "Demo Account" button.
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:
There are also many other useful functions and features, like:
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access to technical analysis tools;
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graphs grid;
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thematic chats and support;
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trading history;
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best IQ Option traders rating;
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other sections: information on current tournaments, video reviews, help, alerts.
Commissions and fees
| 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 |
|---|---|---|
|
$17 | |
|
$0 | |
|
$1 |
Account types
The broker offers one type of account that allows you to make money in multiple markets at the same time.
IQ Option account features:
Open a demo account if you want to understand the specifics of working with an account in detail. It takes less than 3 minutes.
Deposit and withdrawal
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IQ Option does not set limits on the number of withdrawal requests.
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There are several options for money replenishment or withdrawal: WebMoney, Neteller, Skrill, Perfect Money, AdvCash, Visa, Mastercard.
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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.
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Withdrawal and replenishment currencies — EUR, USD, GBP.
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Minimum withdrawal is 2 EUR/USD/GBR.
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Withdrawal fee is 2% (1 withdrawal request per month is free).
Investment Options
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
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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.
Customer 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:
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by phones and addresses indicated on the site;
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via email;
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via social networks;
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via chat on the broker’s website;
Contacts
| Foundation date | 2013 |
|---|---|
| Registration address | The Colony House, 41 Nevis Street, Saint John’s, Antigua and Barbuda |
| Official site | iqoption.com |
| Contacts |
Education
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.
There is a demo account for gaining experience, confidence, familiarity with this broker’s platform.
Comparison of IqOption with other Brokers
| IqOption | Pocket Option | Binarium | Binary.com | VideForex | ExpertOption | |
| Trading platform |
IQ Option | MT5, Web, Mobile | Binarium | Deriv Trader, MT5 | Proprietary platform, Mobile platforms | Browser platform |
| Min deposit | $10 | $5 | $5 | $5 | $50 | $10 |
| Trading instruments |
Options, stock, Forex, Crypto, Commodities, indexes, CFDs on ETFs | currency | indexes, Currencies, Cryptocurrencies | indexes, Forex, goods, stock, random index | Commodities, Currencies, Options, Stocks, Crypto, currency pairs / CFD | Stocks, indices, metals, Commodities, ETFs |
| Signals | No | No | No | No | Yes | No |
| Analytical support |
Yes | No | No | Yes | Yes | Yes |
| Training | Yes | No | No | Yes | Yes | Yes |
| Additional tools |
premature closing | Copy Trading tool | No | premature closing | Copy Trading tool | No |
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:
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over 80 million registered users around the world;
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over 1.3 million transactions per day;
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over $20 million monthly payments;
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over 300 trading assets, including cryptocurrencies;
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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:
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“Market sentiment” indicator. Displays the ratio of sell/purchase orders at the current moment relative to the set timeframe;
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economic calendar. Provides information on major future economic events that may affect quotes;
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reporting calendar. Provides information on when quarterly/annual financial statements of companies are due, which may affect published stock prices.
Advantages:
convenient platform for simultaneous trading with binary options and CFDs;
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.
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