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IQ Option Review 2020

IQ Option  is a licensed Forex, binary options, CFD and Crypto currency trading broker, based in Limasol Cyprus, which offers the most sophisticated and yet easy-to-use trading tools we’ve ever seen in the industry. They revolutionized the industry by being the first broker to let investors trade with a $10 minimum deposit and $1 contracts. That’s one reason why IQOption became popular back then. However, they’ve worked hard to attract and retain their customers too. For instance, they’ve introduced new and exciting features on their platform while keeping old and loved features intact.

Placing an order is seamless on the IQ Option platform, as all the trading tools in the respective assets (Forex or CFD) you choose are available in one place, and you click on it to set the trade amount, multiplier, take profit and stop loss for either a buy or sell order.

IQ Option is founded and operated by IQ Option LTD. The company is based in Cyprus thus licensed in EU by CySEC.  IQ Option Forex broker operates as an international Forex broker, although it currently does not support clients from the US. The broker’s main office is situated at: Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus. They have been running business since 2013, when they set up shop in this region.

IQ Option Forex and CFD

Official website:

IQ Option Review

Their corporate reputation is build out of their core mission which is to conduct business in a transparent and professional manner. This broker strives to offer excellent trading conditions for all its clients. It appears that they are doing really well in this area of service delivery.

IQ Option also prides itself in operating its financial services under the full approval of EU authorization. The company subscribes to rules and regulations spelt out by Cyprus Securities and Exchange Commission (CySEC). And one of the requirements that IQ Option has always implemented is speedy execution of orders in the market. This gives their clients a fair advantage.


  • CySEC regulated
  • Safety of funds
  • High return on investment
  • Tournaments available
  • Unlimited demo
  • Several order types
  • Variety of indicators and charts


  • High spread on popular Forex pairs

Is IQ Option Risky?

Forex Broker Expert reviews brokers for readers across the whole world to know whether they worth your time or not. We use a trust score algorithms to asses risk level. They major criteria we use in grouping a Forex broker in to risk levels include total years in business, which regulatory licenses each firm holds, is the broker publicly traded in any stock exchange as well as our manual in house check.

IQ Option has a trust score of 82% which is low risk firm. This means this broker have a plan for safety of users fund and local compensation scheme.

IQ Option No trading Fees

When we investigate an online broker for their fees, we pay attention to the trading and non-trading fees as this indirectly affect your net take home profit.

IQ Option does not charge commissions on trading. Their trading fees comes in the form of spread on Forex, crypto currencies and CFDs.

IQ option non-trading fees is in the form of withdrawal fees. Withdrawals from bank transfers attract a fee of $31. IQ Option does not charge inactivity fee.

IQ Option World Class Trading Platform

In terms of trading platform, we can say that IQ Options opted to design their own bespoke trading facility which is unique to the brand. This platform was re-designed and improved to version 4.0 in 2016, which currently run on the coveted WebGL technology and allows opening and managing of up to 9 charts simultaneously. Because of this, most options traders who are used to regular trading platforms will find it advanced yet intuitive and rich with features that can never be found on standard broker platforms.

The platform can either be downloaded or used on the internet without the need to install it on your device. A wide range of charts are also offered. These include line, candlestick, Heikin-Ashi and Bar charts respectively. The charts have several things in common. Price is shown on the vertical axis, time- on the horizontal axis.

IQ Option Trading Platform

With the IQ Option 4.0, you can open and operate hourly, daily, yearly or 50 minutes charts in one window simultaneously. Also you can set your chart over a period of 2 years timeframes which gives you a clear view of all global events. Once you figure out how to do this, it enhances the charting user experience. This enables you to understand price trend that will definitely allow you to make a decision.

The WebGL technology is compatible with processors and video card to load all the graphical content on the IQ Option platform immediately without lagging. This is a noteworthy feature for periods of high volatility or increased price action. The WebGL technology increases the speed of all your trading activities by five times more than a standard trading platform. The smallest of price changes are displayed in split seconds making it easier to visually decipher price updates with less noise.

Easy Account Opening on IQ Option

The account opening is easy and fully digital.  The online application takes roughly 1-3 minutes. The account approval is immediate and you can start start trading on the demo or deposit to upgrade to live trading immediately.

Opening IQ Option Account

However, for you to make your first deposit, you have to verify your phone number, email and upload a photo ID. In the EU, you have to add your personal information and trading experience.

If a problem occurs, you can get help from the email and the live chat. They help you in many ways, e.g. you can send them copies of your photo ID, and they will upload it for you.

IQ Option verification process

Setting up IQ Option Controls

It is important to know how to modify the settings of the IQ Option before you start to trade on your account. As you can see in the picture below, there are a few setting that need to be adjusted.

IQ Option demo trading

Investment Amount – With IQ Option, you can choose between minimum investment amount of $1 and maximum invest amount of $20,000 per trade.

Asset type – From the dropdown menu on the top left, you can select the asset type to use and trade. The instruments to trade include FX Option, Forex, Stocks, Crypto, Commodities, Indices and ETFs. From here you can now diversify on your choice of assets.

Chart type – Select from this section Line, Candles, Bars or the Heikin-Ashi chat types, and configure the template, color and line thickness.

Indicators – Here you select your preferred indicator types. You select a single indicator or mix trading indicators.

Order types – There are basically 5 order types to choose and customize risk levels. IQ option offers the multiplier orders, stop loss orders, trailing stop loss, take profit order and purchase or pre-order.

IQ Option Comprehensive Chart Types

When choosing a trading platform, the biggest problem investors have, is finding a broker that integrates with a variety of trading charts to see technical analysis. The common ones are the line, bar and the Candle stick or Japanese candle stick.

A popular chart type used by Forex traders is the candlestick or Japanese candlestick. We’ll focus mostly on candlesticks because they depict the broadest picture of price changes over the time frame under study.

IQ Option works with both popular charts as well as an added chart for technical analysis, so you need to make sure, before you start business, that the broker has a variety of charts.

IQ Option Chart
IQ Option Chart on EURUSD

IQ Option Popular Indicators

IQ Option comes with a handful of indicators for you to choose and mix. All the indicators are available in the demo as well as the live account. You know that indicators when used properly are important in discovering trends in the financial market. You can choose from the popular indicators below.

  • Moving Averages (MAs) include Simple Moving Averages, Weighted Moving Averages, Smooth Simple Moving Averages, and Exponential Moving Averages. These can help provide insights into current trends and can be used with other indicators.
  • The Moving Average Convergence Divergence (MACD) shows where moving averages converge and diverge, essentially visualizing the ratio between two Exponential Moving Averages (EMAs).
  • The Parabolic SAR has a similar purpose to moving averages. However, the position changes based on the price and it moves in conjunction with higher acceleration. It shows up in a group of small dots.
  • The Awesome Oscillator indicates a visualized ratio of two SMAs (Simple Moving Averages), with one fast and one slow. The indicator helps show new trends’ development and completion.
  • Bollinger Bands are trend indicators showing a dynamic range for price movement.
  • Volume Indicators show the quantities of your chosen asset that were bought and sold within a given period, indicating interest.
  • The Alligator Indicator helps you assess market movement in terms of direction and assists with filtering Side Bands (no-trend periods). Overall, this indicator helps traders find emerging trends, and it is cross-functional.
  • The Relative Strength Index (RSI) helps figure out a current trend’s strength, as well as potential reversal points. It compares asset price growth (absolute) with the total price reduction, showing it via a curve.
  • The Stoch or Stochastic Oscillator indicators show a price’s current position in comparison to the extremes from your selected period. This is shown as a percentage and helps you determine likely reversal points.
  • The Average True Range (ATR) displays a trading asset’s current volatility within your chosen period and determines the change rate of quotes.
  • The Average Directional Movement Index (ADX) shows a trend’s strength before the price movement begins. It can also indicate potential market volatility changes.
  • A fractal is a series that includes a minimum of five Japanese candlesticks, showing the local maxima and minima of price curves as well as market reversal points.
  • Commodity Channel Index (CCI) measures the speed associated with price movements. It helps traders determine upcoming market reversals and can detect extrema or assess a trend’s strength.

IQ Option Indicators

Several Order types on IQ Option

Placing a trade on IQ option is seamless and a lot more in your control with several order types to customize your portfolio. You can see the stop loss, take profit, trailing stop order and the pre-order

Stop loss and take profit orders as their names suggest will allow you to decide to stop an ongoing trade when a certain amount of loss or profit is reached. Pre-order lets you choose the price at which you want to enter the market. Evidence have shown professionals making profits with a trailing stop orders.

IQ Option Mobile Trading Apps

While nearly all Forex and CFD brokers have offered mobile apps for years, the competition continues to increase as clients demand many of the same features in mobile that are normally found on desktop and web platforms.

IQ Option mobile and desktop platforms features are very similar with the ability to select the required investment, leverages, spread as well as the direction of trade which can be buy or sell. Investors can also easily search for their favorite assets and analyze all of the most relevant and up to date information.

IQ Option Mobile App

Broker Analysis

Headquater: Limmasol, Cyprus

Minimum deposit: $10

Payout: Up to 90%

Leverage: As low as 1:30

Assets: Forex pairs, Exotic pairs, CFDs on stocks, Indices and Precious metal like gold.

Deposit Method: Visa, MasterCard, E-wallets, Bank Wire, Western Union, Skrill, Neteller, Giropay, Sofort

Platform: IQoption 4.0

License: CySEC licensed.

The minimum amount required for live account trading is $10 only. There are 2 types of accounts offered here with varied portfolios. The accounts are named as follows:

Real Account

  • $10 minimum deposit
  • Up to 500 assets
  • No trade restrictions
  • withdrawal are processed within 24 hours
  • Trading contest for Non EU
  • Live chat support

VIP Account

  • Deposit of 3000 $/£/EUR, or trading volume of 15000 $/£/EUR
  • Higher profitability rates
  • VIP status for traders in non-EEA
  • Personal account manager
  • Monthly trading reports from analyst
  • Free tournament participation

You got $10 to invest? No problem, just open this account. Base account currency can be in USD, EUR or JPY.

Wide variety of trading instruments and features

IQ Option works round the clock to ensuring that its features are always innovative and progressive with respect to time.

The company prides itself in offering over 500 trading instruments which include CFDs, ETFs, Forex, Cryptocurrency, Stocks, Indices, Commodity trading. What is more, IQ Option offers precious metals, indices, stock and energies for your trading. And to make sure that clients are more satisfied than ever, the company decided that they were not going to include any commission or hidden fees.

IQ Option Assets

IQ Option also alleges high speed trade executions, as orders placed by their customers are executed in less than a second, which is really good because it gives traders the advantage of entering positions at favorable prices.

Since IQ Option is CySEC regulated and compliant with their regulations, they dropped deposit-matching bonus on 14th December. Regulators considered this feature a high risk for most traders, hence IQ Options had to comply.

Low Leverages

Because of the associated risk in using very high leverages, regulators in Europe, the US, Japan and Canada capped the maximum leverage for retail traders well below 1:100. IQ option being a loyal European broker cut their leverages in the range of 30:1 for retail traders, 1000:1 for professional traders.

High Spread on Currency Pairs

When you compare the popularity of EUR/USD with other popular forex pairs like EUR/GBP and JPY/USD, then EUR/USD pair has become the most widely-traded pair in the world. It represents a combination of two of the biggest economies in the world. It is affected by factors that influence the value of the euro and U.S. dollar in relation to each other and to other currencies.

In looking at the accounts of Fusion Markets very closely, it is our opinion that this broker is offering a relatively high spread on the popular Forex pairs. The EURUSD spread on IQ Option is capped way high at 14 pips.

IQ Option Important Crypto Currencies

In this era of digital assets and crypto currencies, IQ Option is not left out. IQ Option are a leading Crypto broker. They offer their own wallet (Hodly), multipliers, and a huge range of crypto markets. The typical spread on BTC is 7%, ETH is 15% and apart from BTC and ETH, you have access to TRX, XRP, BCH, ETH, EOS, OMG, ETC, QTUM, ZEC, LTC, DASH coins for trading CFD

Completely Free IQ Option Demo

To retain traders on their platform, a demo account is freely provided from where you can horn your skills before going live.

As if this is not enough, the company has even gone a notch higher to ensure that all users, whether novices or seasoned traders will always get superior services regardless of whether they use a demo or live account. This is why they have always ensured that trading conditions are fair for those trading in the demo and live accounts respectively.

Clear Reputation

In terms of reputation, this broker has its brand completely covered with no stain or history of mistreating or misguiding their traders. Most industry blogs have admitted that IQ Options is way ahead of the industry, and are generally more than decent when it comes to handling their customers’ needs.

They are also crystal clear on how they hedge positions. If you’re the type of trader who fears that an ”over the counter” broker will steal from you, then this broker just re-assured you that they are going to manage your risk effectively.

The company supports 13 languages, allowing traders from around the world to trade in a language they are comfortable with.

IQ Option Deposit and withdrawal is at your Fingertips

This broker is very flexible in terms of deposit and withdrawal options. The company thrives on the no-requote, no commission and hidden fees policy. The safety of funds is assured by storing them in a segregated bank accounts.

The process of funding an account is 100% automatic, and these transactions are processed 24/7. Withdrawals are processed within 24 hours.

They support a wide range of modern payment methods which include Visa, MasterCard, E-wallets, Bank Wire, Western Union, you name it.

Global Customer Support

When using a Forex broker, a single customer service experience is not enough to assess the all-round quality and scope of service. Instead, multiple interactions with a broker’s customer support staff should be conducted to determine an overall rating of customer service.

Here at Forex Broker Expert, we follow the rigorous testing approach to make sure they are providing you the necessary support you need.

IQ Option employs up to 83 customer services who man both demo and live accounts for their clients via email, contact form and a chat function. These are multi-lingual specialists who offer support to clients round the clock, i.e 24 hours during the 5 days of trading in a week.

The VIP account also includes a personal manager who is always ready to assist traders with any queries and issues.

Video tutorials, weekly webinars, economic calendars and many other features are offered on this platform as well.

IQ Option Aggressive Trading tournaments

An important feature which is praised by the users of IQ Option is the trading tournament which enables investors test their trading capabilities as well as see new trading techniques. To enroll your self into the trading competition, you have to pay a small entry fee from your deposit. The prize to be won can be fixed or related to the number of tournament participants, with the highest reaching up to 100x the enrollment fee.

The tournament is available to non-Eu traders. After signing up, you are given a $10,000 virtual amount for you to trade and make the highest return in 30 minutes. If you deplete the $10,ooo virtual account before the end of the tournament, you have a chance to pay another entry fee to continue participation.

IQ Option Education and Research

Beyond news headlines and an economic calendar, IQ Option usually integrate in-house research for fundamental news and technical analysis, then couple it with outsourced research content, ebooks and Faq. IQ Option takes it further by providing various trading videos, as well as webinars and tutorials. They also also make a wealth of data available for all its users, and the site incorporates training resources that can benefit both newer and more experienced traders.

IQ Option Historical Awards

One of the features we use to analyse the trust score of an online broker is the number of awards accrued their evolution. IQ Option have won so many awards in the Binary and Forex industry. We saw many awards in 2013, 2014, 2015, 2016, and 2017.

The ones that captured our attention is the The Academy of Interactive & Visual Arts honored IQ Option with the 2017 Award of Excellence, which is the highest honor from the Communicator Awards. IQ Option was recognized by the voting committee as the top trading app in the Financial category.

Also, IQ Option have won the Century International Quality Gold ERA Award from the Business Initiative Directions Group as recognition for the company’s commitment to Excellence and Quality, within Customer Satisfaction.

IQ Option is Available in Wide Jurisdiction and Languages

You may have seen Scam Forex brokers targeting only traders from Italy, Spain, Germany and Switzerland, which provide their platforms in only English or Spanish, Chinese, Deutsche, Italian and do not care about other international traders that are not within their jurisdiction. Also, most these brokers have a limited number of currency spectrum for deposit. This is not the case with IQ Option with platform website available in 13 languages.

There are 7 base currencies at IQ Option: GBP, EUR, USD, Yuan, MYR, IDR, and RUB. This is a great offer and is in the average for base currency.

Why does this matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won’t be charged.

A convenient way to save on the currency conversion fees can be to open a multi-currency bank account. Revolut or Transferwise both offer bank accounts in several currencies with great currency exchange rates as well as free or cheap international bank transfers. The account opening only takes a few minutes on your phone.

Is IQ Option available in USA

The answer to that is no. It is important to note that not all licenses are weighted equally. For example, becoming licensed by the Commodity Futures Trading Commission (CFTC) to operate in the United States is far more complicated, expensive, and, as a result, more significant. Thus we give a higher trust score to IQ Option competitors licensed in the USA.

Top License

When investors research an online CFD broker, there are many factors they take into account. The main item that we look for to determine if a broker is a legitimate broker or a scam is, are they licensed and regulated by a financial regulatory agency?

IQ Option is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC)’.

Trading with a broker that is licensed by CySEC is always going to be a wise choice. You know that your funds are secured, and that they follow the laws the Markets in Financial Instruments Directive (MiFID).

Are Funds Safe with IQ Option?

You may have seen many scam brokers that promise to give you the best platform for trading but do not in any way guarantee the safety of your fund. When it comes to account safety, IQ Option follow the rule of account segregation and also participate in the local compensation scheme.

Segregated accounts are a special type of bank account, which the broker can not access freely. This implies, they can’t “borrow” the money you are not using for trading and spend it on company expenses. Additionally the compensation scheme is a collective pool to which all brokers contribute a portion of their profits. The fund then serves the purpose of a guarantee, in case one of the brokerages happens to become insolvent. If you are trading with a binary options or Forex broker, regulated by CySEC, your money is safe (against their bankruptcy) to a limit of €20,000.

CySEC Approved – Not a Scam!

IQ Option is not a scam. In case you didn’t know financial regulation is a key factor of a broker’s reputation. When dealing with an unregulated company, you are basically taking their word as the only guarantee you will ever get your money back. CySEC, on the other hand, enforces a lot of rules on the firms it oversees.

Our best advise for you

IQ Option is a very decent Forex broker. Apart from a few customer complaints which are usually addressed in time, we can’t figure out any other thing that would knock out a star rating on this broker. Bottom line is that IQ Option is the best!

Get $10,000 demo account!

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The bottom line

IQ Option has stood out among the crowd because they care for their clients in terms of listening to their needs and addressing complaints appropriately.

Even though IQ Option is a decent broker, it doesn’t mean that the broker is immune to public criticism especially from people who are not pleased with their way of operation.

Every genuine business must have a few complaints submitted against them here and there.

But this does not necessarily discredit them because it all depends on how complaints are handled.

So far, we can say that IQ Option is a very straight-forward broker. They are always willing to make their clients comfortable while using their platform.

We’ve seen their staff taking feedback very seriously on major Forex forums.

We are no longer using a faceless broker. Instead, we are using a company that is more than willing to respond to issues raised by their customers. It’s not by coincidence that they’ve lasted this long and are still continuing to thrive in the business.

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