Is IQ Option a Scam? Is IQ Option Legit? An Honest Review

Is IQ Option a Scam?
No. On the contrary, the broker consistently ranks in the TOP of the best online trading companies and receives prestigious awards. IQ Option has been operating since 2013 and has over 100 million users from over 200 countries.

IQ Option is one of the largest and most popular binary options brokers. However, as with any online trading platform handling investors' money, questions often arise around its legitimacy and whether it could be a scam. This article aims to evaluate IQ Option's authenticity in a thorough and objective manner. The experts at TU assess IQ Option based on their tight screening process. This includes analyzing the broker's licensing and regulations, reviewing customer feedback, examining trading conditions and transparency levels.

Key points from the article

IQ Option was founded in 2013 and is headquartered in Saint Vincent and Grenadines and is licensed by CySEC in Cyprus. However, the license does not cover activities outside the EEA.
Customer reviews of IQ Option are mostly neutral or positive, praising its tools and variety of options.
The company provides transparency around fees, costs, deposits and other trading conditions.
Based on its research and analysis, TU considers IQ Option to be a legitimate broker and not a scam. It is considered safe and recommended for both advanced and beginner traders.

How to Identify a Broker’s Scam

Before we get into whether IQ Option is legit or a scam, we must review how to determine the answer to that question. TU's experts recommend validating a broker's legitimacy in 4 stages. Here are the four steps you must follow to identify a broker's scam:

Check the Broker’s License & Regulation

The first thing you should do to identify whether an online broker is a scam is to check their licensing. Licensed brokers are required to comply with laws and guidelines put in place by organizations like FINRA and the SEC.

If they are licensed, it means that they are supervised by regulators and are much less likely to be operating as a scam.

Read Client Reviews

Next, you should read reviews that clients have published about the broker. Learning from the experiences of investors that use the platform can allow you to better assess its legitimacy.

Make sure that you check reviews on reputable sites, though, like the ones listed on our website.

Consider the Broker’s Transparency

Another way that you can identify a broker’s scam is by considering how transparent they are. Do they have clear terms and conditions available to their customers? Is the pricing transparent, and do they share information about their licensing, processes, and data security measures?

Online trading platforms that do not have a clear background or do not provide any transparency could potentially be a scam. Make sure you do not fall into one of these schemes and only work with brokers that share important information about the safety of your account and funds.

Learn From the Experts

The last step in the process to determine whether a broker is legit is to consult with experts. The professionals at TU have conducted extensive analyses on many platforms and brokers, so you can be armed with the information you need to make the right decision.

We take into consideration all the factors we just described – and more – so that you do not have to do as much research on your own.

Step 1: Is IQ Option Reputable and trustworthy

IqOption Review

Open an account

You should never invest money that you cannot afford to lose.

IQ Option was founded in 2013, with its headquarters located in Saint Vincent and the Grenadines.

Over the years the company has made a name as a reputable and transparent company with over 100 million registered users, while the number keeps on growing.

Over the years it its activity, IQ option has won multiple awards, including:

Award for excellence in 2017
Best Technology Application in 2016
Best Trading Platform in 2014
And others

What also makes IQ trustworthy is good and fast-responding customer support. It is easy to communicate with, and any problem can be addressed in various languages. The support team is always quick at responding as they care about their customers.

We also like this company because of its transparent pricing, deposits and fees. The company clearly states where all the costs are coming from, so you will not be surprised by any hidden fees.

Step 2: Top 5 Reviews on IQ Option

The reviews about IQ Option are generally neutral or positive. Many of the investors on the trading platform are pleased with the functional and technical analysis tools provided, as well as the wide variety of options available for trading.

IqOption
godenndzalama@gmail.com

20.06.2025

Comment

The company actively promotes its services in the CIS and European countries. In recent years, Digital Options with returns of up to 900% and cryptocurrencies have been added. There is no option to add custom indicators or to trade via MT4. Quotes and trading conditions are displayed only within the personal account — there is no publicly accessible offer. Nevertheless, the platform itself is user-friendly.
IqOption
ruslankorol991@gmail.com

05.06.2025

Comment

IQ Option is one of the few brokers that combines binary options trading with classic forex trading on a single platform. This is convenient, especially when switching between assets. The trading terminal has built-in charting tools but does not support third-party indicators or extensions, which may limit strategic approaches. Funding is available via WebMoney, QIWI, Skrill, Perfect Money, Visa, and MasterCard. Accounts can be opened in EUR, USD, or GBP. Mobile trading is supported with the same functionality as the web version.
IqOption
rahul65

05.05.2025

Comment

IqOption offers trading on both binary options and Forex, with a minimum deposit of just $10 and a minimum trade size of $1. The platform is proprietary, which makes it user-friendly for beginners but limits flexibility. CFD trading is available on stocks, commodities, cryptocurrencies, and indices. The maximum leverage on Forex is up to 1:500, but there is no option to add custom indicators or use algorithmic trading. The platform can also be resource-intensive on low-end devices.
IqOption
cms.proooo@gmail.com

02.05.2025

Comment

Severe Misconduct and Platform Manipulation by IQ Option – A Diamond VIP Client's Warning Summary: As a Diamond VIP client of IQ Option since 2016, with over $1.2 million in trades, I’ve faced serious misconduct including: Denial of promised VIP services. Platform manipulation and suspicious price behavior. Refusal to provide full official account statements. Sudden changes in terms without notice. Use of unregulated deposit channels (e.g., Papara, Bitcoin). Unjustified withdrawal delays. These actions have caused major financial and emotional damage. I demand: A complete official transaction record. A formal apology and internal investigation. Recommendation: Avoid IQ Option. My case is a warning of potentially systemic abuse.
IqOption
xjzjsjfanshsh@gmail.com

16.12.2024

Comment

One of the disadvantages is online platform taking up too much RAM... This gotta be a joke, how can it be a negative side? Any computer can run it fine its not flooded with thousand open tabs .

Step 3: IQ Option’s Background and Transparency

There are more than 100 million registered users on IQ Option, and these investors reside in over 200 countries. This number has grown substantially since its inception in 2013, and they now process at least a million transactions each day.

They provide an intuitive trading platform that is perfect for experts and beginners. All the information regarding trading conditions, and the risks associated with buying and selling securities, are listed on their website. That means they are transparent and ensure that their users know exactly what they are getting into.

Step 4: TU’s Opinion of IQ Option

So, what is TU's opinion about the legitimacy of the IQ Option platform?

For starters, the IQ Option trading platform has consistently ranked in the top 10 of our TU Binary Brokers rating. They place well in our rankings due to positive customer reviews, favorable trading conditions, a wide range of investment options, and the fact that it is intuitive and beginner-friendly.

As a result, TU views IQ Option as a legitimate broker that is recommended for both advanced and beginner options traders.

Is IQ Option Legit or a Scam? The Expert’s Verdict

The expert’s verdict is that IQ Option is legitimate. They are not a scam – on the contrary, they consistently rank on the list of best brokers for online trading.

To make a decision, you should try the platform and its main features yourself.

Team that worked on the article

Ivan is a financial expert and analyst specializing in Forex, crypto, and stock trading. He prefers conservative trading strategies with low and medium risks, as well as medium-term and long-term investments. He has been working with financial markets for 8 years. Ivan prepares text materials for novice traders. He specializes in reviews and assessment of brokers, analyzing their reliability, trading conditions, and features.

Learn about our editorial policies

Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.

Mirjan Hipolito is a journalist and news editor at Traders Union. She is an expert crypto writer with five years of experience in the financial markets. Her specialties are daily market news, price predictions, and Initial Coin Offerings (ICO).

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Binary options trading

Binary options trading is a financial trading method where traders speculate on the price movement of various assets, such as stocks, currencies, or commodities, by predicting whether the price will rise or fall within a specified time frame, often as short as a few minutes. Unlike traditional trading, binary options have only two possible outcomes: a fixed payout if the trader's prediction is correct or a loss of the invested amount if the prediction is wrong.

Leverage

Forex leverage is a tool enabling traders to control larger positions with a relatively small amount of capital, amplifying potential profits and losses based on the chosen leverage ratio.

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Cryptocurrency

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