IQ Option Review

Today, individual investors have a wide range of options to invest in cryptocurrencies or any other asset classes, but it is not easy to find a reliable trading partner. Today, we aim to provide an unbiased IQ Option review so that our members have all the necessary information they need to make an educated decision about this online broker. We also aim to highlight potential flaws and downsides and help to avoid scam platforms that are only interested in taking your money.

Today, we will review one of the most active brokers active in the cryptocurrency trading market called IQ Option. We will analyse the company’s standings and financial position, the reliability of its trading platform, markets traded, and the pros and cons of this particular broker. So, if you want to navigate the complex world of cryptocurrency trading and find out what experienced traders say about this platform, please continue reading this IQ Option review. 

IQ Option Review

IQ Option Review – About the Company

IQ Option is an online trading platform that allows trading Contracts for Difference (CFDs) on major Cryptocurrencies, including Bitcoin, Ethereum and many others, Stocks, Exchange Traded Funds (ETFs) and Forex. In addition, professional Traders can also take advantage of IQ Option’s binary and digital options trading capability. The company was established in 2013 and is headquartered in Cyprus. The Cyprus Securities and Exchange Commission (CySec) regulates it in the European Union 247/14. 

Its subsidiary, IQ Option UK, is also regulated by the FCA (Financial Conduct Authority) in the United Kingdom. In addition, IQ Option is also registered and authorised by Consob (The Commissione Nazionale per le Società e la Borsa) in Italy, CNMV (The National Securities Market Commission) in Spain, Regafi (The Financial Agents Register) in France, AFM (The Netherlands Authority for the Financial Markets) in the Netherlands, Finantsinspektsioon (The Financial Supervision Authority) in Estonia and CNB (The Czech National Bank) in the Czech Republic.

IQ Option Review

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IQ Option has been growing steadily year on year, starting with circa 84,000 registered users in 2014 and reaching a staggering milestone of more than 7 million active registered users in 2020. When writing this IQ Option review, the platform handled more than 21,000 trades per day with an average daily trading volume of $53 million. This broker showed significant growth, with the overall volume of trades increasing by 2100% between 2014 to 2020. This growth was mainly driven by the surge in demand in trading cryptocurrencies and the Bitcoin Revolution, and from what we hear, IQ Option offers one of the most advanced crypto trading platforms today. 

When writing this IQ Option review, this broker accepts clients from 2013 countries, but it does not allow US clients just yet. It also won several top industry awards and established IQ Option Charitable Foundation to support the social well-being of the most vulnerable communities. 

Trading Platform Features

When writing this IQ Option review, we found its trading platform to be one of the best on the market. Unlike many other brokers who use white-label platforms such as Meta Trader or similar that often can be too complicated for inexperienced traders, IQ Option spent their money. It developed a proprietary web-based terminal professional and easy to use and navigate. For those who prefer to trade on the go, their IQ Option Android app is available and one for iOS.  The platform is constantly improved, and today it only takes 0.6 seconds to execute a  trade which is one of the best on the market. 

In this IQ Option review, we tested the broker’s web trading platform, where you can have a multi-chart layout, various tools for technical analysis, historical quotes and beyond. In addition, you can get the most of fundamental and technical analysis with News Feed and Economic Calendar, as well as over 100 technical indicators and widgets. You can also stay up-to-date with what is happening on the market with customized price alerts and notifications. 

IQ Option Review

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? Social Trading Platform
✅ Zero Commissions
?? US Clients Allowed

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

In this IQ Option review, we would like to specifically mention Risk Management capabilities essential for successful long term trading. IQ Option offers Stop Loss/Take Profit, Negative Balance Protection and Trailing Stop to allow every user to manage potential profits and losses.

With IQ Option, users are trading Contract for Difference with digital and binary options trading available for professional traders. One of the advantages of trading CFDs is that you don’t need to buy the underlying asset and pay the full price. Instead, you only need to put in enough money to cover the price difference. With IQ Option, you can start investing in Bitcoin, Ethereum and other major cryptos and traditional assets with only $1 per trade.  

IQ Option Review

IQ Option commissions are also quite favourable. You actually don’t pay a commission per trade but rather in highly competitive spreads and depend on market conditions and leverage. Leverage Trading is also available, but we would only recommend Margin Trading for highly experienced traders. You really need to know what you are doing and absorb losses if the market goes against you. 

In this IQ Option review, we also have to mention a massive IQ Option trading community where users can discuss trading ideas and opportunities and follow experienced traders and their investment strategies using features such as Traders Sentiment and Community Live Deals. 

Trading Asset Classes

When writing this IQ Option review, users could invest in the 12 most popular cryptocurrencies, including but not limited to Bitcoin, Ethereum, Litecoin, Ethereum Classic, Bitcoin Cash, Dash, Ripple, TRON, EOS and others. 

IQ Option Review

eToro

? Largest Online Broker
? Social Trading Platform
✅ Zero Commissions
?? US Clients Allowed

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

For those interested in diversifying their portfolios outside cryptos, the IQ Option web trading platform also offers access to the most popular Exchange Traded Funds, Commodities, Indices, 184 different stocks, including Tesla, Apple, Zoom, Facebook, Google and many others, as well as 48 Forex pairs and 26 different options. So while some might find that the IQ Option’s investment universe might be smaller than some competitors, we think that gives good diversification options for most traders. 

How to Start Trading with IQ Option

When writing this IQ Option review, we found that the IQ Option open account process is straightforward.

Step 1 – Open Free Account

All you have to do is provide your full name, email address and set up a password. After that is done, you will be able to log into the IQ Option web trading terminal. You can also use your social account or google profiles for IQ Option login

IQ Option Review

Step 2 – Deposit Funds

To start trading with real money, you will first need to complete the Know Your Client (KYC) process with the broker. Then, you will need to upload a copy of your passport, proof of address and supply your tax number. That is a regulatory requirement, but you can quickly verify the IQ Option account thanks to advanced technology.  IQ option English-speaking support staff did a great job in helping us to complete the account opening process. When working on this IQ Option review, the broker provided support in more than 15 different languages covering most European and Russian, Chinese, Hindi, and many others. 

IQ Option Review

IQ Option Deposit and Withdrawals are made via one of the most popular payments methods: debit or credit card, bank transfer, PayPal, Skrill, Neteller, Sofort, WebMoney, etc. 

IQ Option Review

Step 3 – Practice with Free Demo Account

One of the main advantages for beginner traders is that IQ Option offers a free demo trading account. Even before you complete the account verification, IQ Option allows you to start trading risk-free with $10,000 virtual cash. Thus, you can try the full functionality that we tested during this IQ Option review, the broker’s web trading platform, without risking any money. That is particularly helpful for those who make their first steps in trading and want to tip their toes in the water before depositing funds. 

You can test-drive your trading strategy, make a couple of trial one-off bets or follow experienced traders and see what profit you can get before committing real money to your account. You can take all the time to learn the IQ Option trading platform and familiarize yourself with various trading strategies and technical indicators.

In this IQ Option review, we also want to mention an educational platform that IQ Option offers to make their first steps in trading. IQ Option has a comprehensive library of video tutorials covering the Basics, Crypto Digest, Technical and Fundamental Analysis, Market News, FX Options and CFD Trading. So even if you don’t know anything about trading, you will learn and pick up things quickly, especially as everything is supported by comprehensive video material. 

Step 4 – Buy Bitcoin with IQ Option

While we would be providing several “How-To” Guides in a different IQ Option review, we would like to briefly demonstrate how easy it is to buy Bitcoin, as demonstrated by this IQ Option review. In fact, you can do it with just a couple of clicks.

IQ Option Review

Once you selected the asset that you would like to trade, you can select Trading Amount on the right side. The minimum trade size is $1 with a 2x multiplier. So with $10 invested, your trading position will be $20. You can also set your Take Profit/Stopp Loss parameters which means your position will be automatically closed once a certain profit target is reached or if you want to minimize your losses. It is a great feature if you have positions opened but not in front of your computer all the time. 

IQ Option Review

eToro

? Largest Online Broker
? Social Trading Platform
✅ Zero Commissions
?? US Clients Allowed

Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Is IQ Option a Scam or Legit? Our Verdict

One of the primary goals of writing this IQ Option review was to determine if this is a reliable broker and if you can trust it. Our verdict is definite YES. So, IQ Option is not a scam and can be trusted. But let us explain why did we come to such a conclusion. 

IQ Option Europe Ltd. has been around for more than 8 years, and it is also registered and regulated in some of the most reputable jurisdictions, such as FCA in the UK. It’s traders community of more the 7 million people from 215+ countries, the support team of 79 speaking more than 15 languages speaks for itself. We also found that the IQ Option web trading platform is one of the best on the market, offering a superb user experience and fast execution speed. 

Of course, this IQ Option review won’t be complete if you don’t mention a certain drawback that we came across. Firstly, the investment universe is relatively small and only limited to 12 main cryptocurrencies. While the Stock coverage is alright, we think that number of ETFs or Indices available for trading could be bigger. Some professional day-traders also find its trading terminal too simplistic and do not offer many advanced features available with platforms such as Meta Trader. But we quite liked the OQ Option’s web trading platform and feel that it offers everything you need for most traders.

Also, in this IQ Option review, we have to mention that you might come across a couple of scam reports if you Google this broker. First, we were alarmed by this discovery, but we found very little substance to back them up when we did further research. Unfortunately, on the internet and free expression of speech, many competitors do not shy from using dirty tricks and simply writing negative reviews on various forums.

Of course, in times of market volatility, support staff can be overwhelmed and not answer your request immediately, or there could be some delays in trading caused by your own internet connection, or there could be some delays in deposits or withdrawals if your documents are not fully verified, or there are some flags by an internal compliance system.

That all can happen, but we could also verify that the IQ Option account managers are amicable and always doing their best to help their customers. We also have not come across any serious scam or fraud reports, and the fact that the most prominent financial regulators regulate IQ Option speaks for itself. If IQ Option were a scam, they would not maintain their FCA or another regulated status. 

Final Verdict –  

Pros / Cons
  • Award-Winning Broker
  • High-liquidity Platform
  • Quick Deposits & Withdrawals
  • Auto Follow Capability
  • Flawless customer experience
  • US-clients not allowed
  • Limited ETF range

IQ Option Review –  

As we mentioned above, we found IQ Option to be a reliable broker where you can invest in cryptocurrencies and other assets feeling safe. In addition, IQ Option is regulated by the CySEC and other financial authorities, offers an award-winning proprietary web trading platform and top-notch customer service. 

We also asked our members why do they choose to Invest with IQ Option broker, and here are some of the top 5 reasons they gave us: 

  1. Reliable, high-liquidity platform. IQ Option is a licensed and regulated CFD broker with a monthly trading volume of over $11 billion.
  2. Flawless customer experience. The support team addresses any problem in less than 1 minute 24/7.
  3. Comfortable trading. Web, Desktop, iOS and Android apps, so you can trade Crypto assets anywhere at any time.
  4. Short selling. Short selling a digital asset allows you to profit in a bear market when prices are going down. 
  5. Quick deposits, quick withdrawals. Clients from more than 214 countries have various options for depositing and withdrawing money in their local currency using the preferred payment method. 

So, all in all, upon completion of this IQ Option review, we were satisfy with our experience and can recommend this broker. But we would also like to know your feedback, so please share your experience of investing with IQ Option and what pros and cons, in your opinion, IQ Option have. 

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Risk Warning
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 71% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

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