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IQ Option Review & Rating [yyyy]

IQ Option Review & Rating 2022

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Is IQ Option a scam or reliable? IQ Option is a regulated and certified platform, therefore, this means that they are always subjected to continuous checks by regulatory authorities who ensure that users' funds are safe.

In this IQ Option review, you will find everything you need to clear all doubts about this platform.

Overview

Company
7/10
Trading Platform
8/10
Account Types
8/10
Costs
7/10
Customer Support
7/10
Regulation
8/10
Cryptocurrency
7/10

Company

7 /10

The IQ Option brokerage firm was created relatively recently, in 2016, but over several years of its existence, it managed from a newcomer to the brokerage services market to turn into one of the largest brokerage houses.

The main factor that contributed to such explosive growth is the combination of high quality with a democratic approach - IQ Option managed to make options trading available to the widest possible circle of people without compromising the convenience of the platform, the responsiveness of the support service, and the variety of trading tools.

Advantages and Disadvantages of Trading with IQ Option

Pros:

Regulation: IQ Option is regulated, which ensures that the client service standards set in the European Union are adhered to.

Convenient trading platform: the system is developed within the company, which allows it to constantly develop and quickly adapt to the requirements of traders.

Low minimum deposit: you can start trading even with a deposit of $10. The minimum transaction amount is $1.

Demo accounts: the company provides each registered user with the opportunity to practice trading skills, test strategies and get used to the trading platform without the need to make a deposit.

Contests for traders: with the help of regular tournaments, the company managed to create a kind of community of traders around its trading platform, who strive to improve their trading skills, while getting the opportunity to win cash prizes. Tournaments are held weekly; both paid (requiring a cash contribution to participate) and free tournaments are organized. Tournaments are held in accordance with the Terms and Conditions.

Cons:

A limited number of commodity assets: at the moment, the broker offers only gold and silver for trading among the commodity assets. Hopefully, the list of available tools will continue to expand.

Trading Platform

8 /10

It should be noted that, unlike many other trading platforms, the IQ Option trading platform was developed in-house, i.e. is the result of the company's search for the optimal solution to meet the needs of its customers. The platform has received and continues to receive numerous awards for its innovation and user-friendly interface, including the "Most Innovative Binary Options Broker" award from Show FX World and the "Best Trading Platform" from the Forex Award.

IQ Option trading platform

This IQ Option review will not be complete without mentioning its trading platform.

The IQ Option platform is the latest generation that works equally well on both full-size computers and mobile devices. The interface is based on dynamic charts showing the development of the asset price in real-time. The most significant difference between the charting system of the IQ Option platform and most other binary options brokers is the presence of a set of auxiliary tools, such as zooming in/out of certain parts of the chart, drawing lines and curves, etc.

On the left, there is an indicator of the current market sentiment for this asset, which provides additional support in making decisions about entering the market - as well as a customizable panel that makes it possible to display the history of transactions, news feed, the best traders at the moment, and even training videos.

 Trading from mobile devices

It is worth mentioning separately the IQ Option app for trading on tablets and smartphones, which allows you to stay “in the market” outside your own workplace. The mobile trading platform provides functionality very close to the full-screen version, with the only difference being the location and size of individual interface elements. IQ Option download for Android and iOS apps is available for free from the official Google Play and App Store.

Account Types

8 /10

With IQ Option trading, you have the opportunity to basically open three types of accounts, namely, the Real Account, the Demo Account, and the VIP Account for which it will be necessary to make a minimum deposit of $3,000.

Demo account

A free demo account becomes available immediately after creating a personal account and gives access to a virtual portfolio of $1000, in which you can carry out all the options for transactions available for a paid account. Thus, traders are given the opportunity to test their market strategies and get used to the trading platform without having to make a deposit.

It is worth noting that recently the company introduced the possibility of replenishing demo accounts - this means that in case of loss of all funds from a demo account, you can replenish it with a new portion of virtual currency; nevertheless, it is recommended to test your strategies on real accounts with very low amounts (for example, $1-5 per trade) as early as possible in the process of debugging your trading system in order to get a taste of the real market.

Live account

Any demo account can be instantly turned into a real one by making a deposit; in this case, the virtual amount will be zeroed, and the account balance will become equal to the deposited amount.

To open a real account, click on the green button with the corresponding inscription in the upper right corner of the broker's home page, or click on the same area in the upper right corner of the demo account. The process consists of two stages - creating an account (skipped if you already have a demo account) and depositing funds into the account.

It should be noted that the first stage can be carried out not only through the standard registration form, but also using personal profiles on Facebook. The deposit can be made through bank cards (Visa, MasterCard) or popular electronic payment systems such as Webmoney.

VIP account

For traders already familiar with the topic of binary options, IQ Option offers the so-called. VIP accounts that give access to additional services such as free regular distribution of trading signals, VIP webinars, a monthly analysis of personal transactions from company analysts, a personal manager, and expedited withdrawal of funds (within 1 day). The possibilities of VIP accounts become available starting from a deposit of $3000.

 Withdrawal of funds

Withdrawing profits from your IQ Option account can be done in any of the ways indicated above for depositing funds. To initialize the process, you must fill out an application for withdrawal from your personal account, indicating reliable personal data and the desired withdrawal method.

The application is reviewed within 3 working days, during which the company may request additional documents to improve the security of the transaction, including a scanned copy of an identity document.

The status of the submitted request for withdrawal of funds can be monitored in real time from the personal account - after the start of processing, its status will change from “application” to “in progress” (the funds are debited from the balance of the personal account), and upon receipt of funds to the declared payment system of the client, the application changes its status to "processed".

Cryptocurrency

7 /10

Cryptocurrencies are the hottest investment products in the market at present, and IQ Option has added around 12 different cryptocurrencies to its asset portfolio. The available cryptocurrencies include Bitcoin, Ethereum, Ripple, Litecoin, and Dash. Do note, however, that your access to cryptocurrency CFDs at IQ Option may be restricted due to local regulations.

Costs

7 /10

We have listed below all the fees charged for the use of IQ Option financial instruments and a detailed trading schedule.

Spread may vary depending on market conditions and liquidity. Under certain circumstances, spread may be either higher or lower than the level indicated in our table. Also, please pay attention to overnight fees that are charged for keeping your positions open.

IqOption Withdrawal (Bank Transfer) Fee

For each withdrawal of funds through bank transfer, you shall pay a fee of 25 euros or an equivalent amount in another currency.

Unfortunately, you cannot withdraw less than 2 euros or an equivalent amount in another currency. For this purpose, please contact the Support Team.

IQ Option doesn’t charge any fees for withdrawals through payment systems.

IqOption Inactive Account Fee

If during 90 (ninety) consecutive calendar days or more the Client places no orders to make trades/Transactions (“Inactive Account”), the Company reserves the right to charge an Inactive Account fee for the amount of EUR 50, which is to be deducted monthly from the Customer’s Account balance up until the Account becomes active again (“Fee”). The Fee shall not exceed the total balance in the Customer’s Account.

Customer Support

7 /10

IQ Option has an impressive customer service department that offers instant support through an ever-expanding team of about 83 customer service specialists located across the world. IQ Option offers 24/7 customer support, primarily via live chat, with fast response times. Email support is also available, and the FAQ section answers many of the most common questions. I only found a phone number missing from the overall support offer.

Regulation

8 /10

Is IQ Option Safe? The IQ option platform is regulated with license n. 274/14 granted by the Cyprus Financial Markets Supervisory Commission (CySEC).

It is also EEA (European Economic Area) authorized, therefore, IQ Option is marked in other registers that allow it to be operational in various European countries such as, for example, in the register of the CONSOB (National Commission for Companies and the Stock Exchange) with license no. 4090, which is the government body responsible for regulating the Italian financial markets.

Or in the register of the FCA (Financial Conduct Authority) with registration number 670182, which is the UK regulatory authority.

So if you are wondering is IQOption a scam, this may already be an answer and a guarantee because, as we have already seen, it is an authorized and regulated broker. So pay no heed to any IG Option scam review.

Conclusion

The world of online trading can seem very confusing at first glance, a world where the only ones who can understand something are experienced traders.

It is perfectly understandable that an inexperienced trader has a negative experience and may become discouraged in the face of graphs and numbers scrolling across the screen, with no apparent sense. However, this may simply be an impression dictated by a first inattentive glance.

If you do diligent research you can find a lot of information, one of all, the most important: there are numerous platforms on which you can do Forex trading, dedicated to different types of traders, from the most experienced to the novice.

The first step to take to try to make a profit is to understand which skill group you belong to make the most of your potential and those of the platform.

Thanks to one of the most influential trading platforms, IQ Option, it is also possible to acquire all the necessary knowledge! Certainly having a background in market dynamics can be very useful, however, this does not mean that you cannot gain experience in the field.

Acquiring notions in finance is undeniable and mandatory if you want to develop a good trading strategy that can allow a strong profit.

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