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Beginner’s Guide to IQ Option: Complete Review
IQ Option is an online trading platform that enables customers to trade a variety of financial instruments and assets such as Binary Options, Stocks, Forex and of course Cryptocurrencies.
Founded in 2020 and operated by IQ Option Ltd, the site has quickly became one of fastest growing online trading platforms and claims to have over 20 million account holders from around the world.
IQ Option is also based in Cyprus and regulated in the EU by the Cyprus Securities and Exchange Commission (CySec), the company is fully compliant with the legislation put forward by the commission and fully authorized to sell their products to clients in a number of jurisdictions.
Risk Warning: Your capital might be at risk.
Take a look below as we walk you through the site and offer our full review of the service.
IQ Option at a Glance
|Minium Initial Deposit
|Asset Coverage||CFDs, ETFs, Forex, Cryptocurrency, Stocks, Indices, Commodities|
|Leverage||30:1 Retail Traders, 1000:1 Professional Traders|
|Trading Platforms||Proprietary Web, Mobile App|
What it Offers
IQ Option is a comprehensive trading platform that provides its users with a wealth of alternatives, and after starting out as a binary options broker, IQ Option now allows customers to trade Contracts for Difference (CFDs) on stocks, Cryptocurrencies, Exchange Traded Funds (ETFs), Forex, and a range of various digital options.
- CFD on Stocks – IQ Option allows users to trade CFDs on stocks from over 176 different companies, including the most successful businesses listed on the NASDAQ and NYSE.
- Cryptocurrencies – Users can also trade 12 of the top cryptocurrencies including Bitcoin, Ethereum, Litecoin, Ripple, Monero, Zcash, Omisego, IOTA, and Dash.
- ETFs – EFT trading is a relatively new product, and ETFs work by tracking commodities, indices and baskets of assets. These can be traded in the same way as common stocks, and traders can choose from approximately 4288 different ETFs.
- Forex –FX trading, or Forex, is an extremely popular trading market and IQ Option provides access to around 188 currency trading pairs. This allows users to trade their favourite foreign currencies with ease.
- Options – Users can speculate on the price of a number of different assets, which include currencies, stocks, indices and commodities. The platform currently provides a gateway to over 10 million options.
IQ Option Demo Account
Like many competitors, IQ Option offers a demo account. However, IQ Option’s demo account stands out. This is because there is no limit on how long you can use the demo account. That allows you to get truly comfortable with your trading techniques. It also allows you to test new trading strategies in the future.
The IQ Option demo account includes $10,000 in virtual funds. If you use all of those virtual funds, you can easily have the amount replenished, allowing you to continue practicing your trading techniques.
Another standout element of the demo account is the fact that you do not need to provide personal information before using it. This is not always the case with competitors. The lack of personal information required for a demo account helps potential clients protect their privacy.
IQ Option Real Accounts
IQ Option requires a low minimum deposit and new traders can start off by just depositing $10 in order to gain access to a live account, there are currently two trading account options:
- Real Account. This can be accessed with the $10 minimum investment and there are no restrictions on trading functionality. This account provides access to over 70 assets and users can request withdrawals that are processed within 24 hours. Real account holders can also take part in various trading competitions held on the platform ( customers outside of the EU ).
- VIP Account. – This is available to Traders who:
- Make a deposit of $1900 or an equivalent amount in other currencies, or Have a trading volume of $15000 “IQ Option Ltd. provides VIP status for traders from non-EEA countries”
- In addition to the features found on the real account, the VIP account also includes a personal manager who is always ready to assist traders with any queries and issues. The VIP account also comes with a monthly report on user trading records, which is performed by the platform’s analysts and gives customers valuable feedback on their performance.
IQ Option Signup
The best way to get started is to sign up via Facebook, Google, or to simply create an account by using an email address. After inputting your details and creating a password you can proceed.
When this is done you can immediately use your practice account or top up your real account before moving on to live trading. A pop-up will notify you of the creation of both your practice account and real account.
Perfect For Beginners and Middle-Leveled Traders!
Free Demo Account.
Get Your Sign-Up Bonus Now!
Recommended Only For Experienced Traders!
IQ Option has developed its own proprietary platform and this makes navigating the site an enjoyable experience. The platform has been generally well designed with an intuitive approach and it’s quite easy to locate all the various tools and features. The free demo account also provides users with the possibility to trade with all of the underlying assets. As a result, there are a variety of options regarding types of trades and users can quickly switch between their preferred assets. The platform also offers a range of charting tools such as Bollinger bands and moving averages which all help enhance trading capabilities.
IQ Option Deposits
With IQ Option, there is a minimum deposit of 10 USD/GBP/EUR. You can select your preferred form of deposit, and IQ Option does not charge any fees for depositing funds.
To make your first deposit, you will need to go through the account verification process which in the EU involves adding your phone, personal information, adding your trading experience and uploading photo identification. Different countries will have different requirements and also will need verification to make withdrawals from the site.
IQ Option offers its customers a number of ways to make deposits and withdrawals to and from their trading accounts. Users can currently use debit services such as Maestro and Visa Electron, or credit cards like Visa and Master Card. Customers can also use a host of payments processors such as Skrill, WebMoney, Cash U, Neteller and Moneybookers.
There is also the option to process payments via Wire Transfer and the current minimum withdrawal amount is $2, while the estimated time to withdraw funds is 1 business day. Your bank may charge fees for this process.
As of the time of writing, IQ Option still does not allow for deposits via PayPal. However, the platform is working to make this an option.
IQ Option Withdrawals
When it comes time to withdraw funds from your IQ Option account, the method used will vary based on the deposit method. In the case of deposits via a credit or debit card, you must withdraw the initial deposit amount onto the card. Since this transaction gets processed as a refund, you can only withdraw up to this amount to your credit or debit card, including deposits made within the past 90 days. Any profit that is over this amount will need to be withdrawn via a bank transfer or your chosen e-wallet.
The e-wallet options for withdrawals are identical to those for deposits, including Skrill, WebMoney, and Neteller. Alternatively, you can withdraw those profits via a bank transfer. Keep in mind that opting for a bank transfer does come with a fee of $31. In the case of deposits made via an e-wallet, you must withdraw the funds to your same e-wallet account.
Regardless of your withdrawal method, IQ Option will process your request within three business days. Bank cards and payment providers may require additional processing time.
Keep in mind that before you can withdraw funds from your IQ Option account, you must verify your account by submitting identification documents. This involves uploading:
- A photo ID, such as a driver’s license or passport
- In the case of a deposit made via a bank card, you must also upload an image of both sides of every card used. Hide the CVV number and the middle digits of your card number. Keep the first six and final four digits visible. This is for your own security.
How to Trade on IQ Option
Trading on IQ Option is relatively intuitive and the trading platform is very well designed. You will see the chart is in the center with buy and sell boxes to the right hand side. Your balance is displayed at the top along with any assets you are currently trading.
You can use the drop down located at the top left of the chart area to choose which instrument to trade. The drop down contains FX Options, Forex, Stocks, Crypto, Commodities, Indices and ETFs and from that you can then select or search for your chosen asset.
You trade right from the Web Trader’s interface. To the right of the graph for your chosen asset, you will see options to buy and sell. You simply fill out the amount of the asset you wish to purchase and submit your order.
You can also place an order easily via the mobile application, and the overall setup is very similar. To the right of your chart, you will see the same options, with the ability to adjust investment, leverage, and price and then select buy or sell. For clarity, this section of the trading platform will also display the spread.
Users can also easily search for their favorite cryptocurrencies and analyze all of the most relevant and up to date information. In addition to offering Bitcoin and Ethereum, IQ Option also offers at least 10 other cryptocurrencies to trade. These include Dash, Ethereum Classic, IOTA, Ripple, Litecoin, and Monero.
Risk Warning: Your capital might be at risk.
The interface also provides easy to find links to chats, trading history, and customer support, and in the event of any issues, users can quickly open up a dialogue with the support team. Another standout feature is the resources section that provides access to training and education materials. A number of short training videos are integrated into the site and traders can access these resources without having to leave their training accounts.
The demo version of trading platform is also the same as the live version, and traders can improve their skills by using the $10000 of virtual funds that come with the practice account. Even if things go badly, these funds can be replenished, giving traders a consistent pool of funds to practice with.
Order Types & Stop Loss Tools
As is expected of modern trading platforms, IQ Option gives traders a range of order types to reduce risk and customize the trading experience. The variety of order choices lets traders create strategies that are short-, medium-, or long-term and featuring a variable return. Multipliers let traders increase the risk level for an investment with a corresponding increase on the return.
Stop loss orders let traders set maximum losses that they will accept, automatically closing the trade if it is triggered. Take profits do the same thing but when the trade reaches the profit you specify. A trailing stop will lead to dynamic operation of an auto-close at loss, moving with the price in the direction the trader indicates. Purchase at preorders lets traders set a price at which enter the market.
To supplement the order types, IQ Option offers a range of tools for setting stops and take profits. While most brokers just let you select the asset price, IQ Option lets you set the take profit or stop loss at either a percentage, numerous loss, or specific asset price. There is also the choice to apply the dynamic stop loss or trailing stop and the ability to use the balance to keep a position open if it exceeds the stop loss.
There are numerous order types available with IQ Option, with the specific types of order available varying by asset.
- Multiplier orders allow you to increase the return on investment and your level of risk via a coefficient. This is a popular tool among advanced traders, but it should only be used by those with experience due to the increased risk. When used properly, it can dramatically increase potential profits.
- Stop loss orders let you set maximum losses that you will accept. When this type of order gets triggered, it automatically closes the trade to minimize your losses.
- Take profit orders are almost the opposite of a stop loss order. You indicate the amount of profit you want to reach, and the order automatically closes when it reaches this point.
- Trailing stop orders build on the idea of a stop loss by dynamically using auto-close at stop. A trailing stop order will move with the changes in price in the direction that you indicate.
- Finally, a purchase at or pre-order lets you choose the price at which you want to enter the market. When the market reaches this point, the trade will automatically be executed.
To ensure traders can get the most from the IQ Option trading platform, the broker offers a long list of charting tools that can provide insights and help clients craft their trading strategies.
Candle charts are among the most popular for IQ Option traders. These candles indicate a period of time, with solid colors indicating volatility during the given period and points marked for the price at both the beginning and the end of the given period.
Hollow candles are similar. However, instead of always using solid colors, the positive candles are hollow and the negative candles are solid.
IQ Option also offers area charts that show the price in the form of a line, complete with shading for the area underneath. Line charts are similar, but the area underneath the line is not shaded.
Finally, bars, like candle charts, cover a period of time you specify. They indicate the prices at the beginning and end of the period but do so with vertical lines. There are complementary horizontal lines that display the prices at open and close.
With the indicators on IQ Option, you can spot trends and better identify potential trades that will lead to profit. IQ Option offers 13 indicators that are available via the charting interface.
Many can be used independently or together to maximize your results and insights.
- 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.
- Finally, the 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 places a good amount of focus on its users and the platform enables customers to trade with confidence by incorporating a number of features that greatly enhance the overall trading experience. These include:
IQ Option offers a mobile web trading solution in addition to a specific mobile application, which gives users greater flexibility regarding mobile trading options. The app has a clean, intuitive graphical interface and is easy to use; it also has most of the charting options found on the standard platform. The app also provides push notifications, and users can set key trading levels which result in alerts any time these levels are breached. The app works on tablets as well as smart phones and the platform is available to both Android and Apple iOS device holders.
If you are outside the EU, then Customers are provided with the chance to test their skills against other traders via a number of Binary Option tournaments. These frequent tournaments are usually around 30 minutes in length and require a small entry fee. After signing up, users are given $10k in virtual funds and at the end of the competition; the trader with the highest returns wins a prize.
The prize can be fixed or be related to the number of people who entered the tournament, and at best allows the winner to receive a payment of up to 100x the entry fee. If users deplete their virtual funds, they can buy in again and continue to take part in further tournaments. This provides users with an interactive way to test their trading capabilities as well as pick up new trading techniques.
As always, please note it is possible to lose your entry fees when taking part in competitions.
Education and Training Resources
IQ Option also makes a wealth of data available for all its users, and the site incorporates training resources that can benefit both newer and more experienced traders. These include various trading videos, as well as webinars and tutorials. Users also have access to a number of e-books and an FAQ section that covers the most common questions. These training materials provide valuable information to for traders of different abilities and experience.
IQ Option Affiliate Program
IQ Option offers an affiliate program for those who want to supplement their income by encouraging others to sign up to use the platform. When you become an affiliate, you simply share your affiliate link, whether this is on a website, blog, or somewhere else. From there, a user will click the ad or link. When they sign up, it will be associated with your unique ID.
Your rewards arrive when the users you encourage to sign up start trading on IQ Option. Based on the trading activity of the client, you can earn as much as 70 percent of the broker’s profit. This continues for life, allowing for passive income opportunities. The earnings are paid out two times every month, and you can choose your preferred payment method. To date, IQ Option has 115,410 affiliates in 178 countries. On the day of writing, IQ Option affiliates had already earned $35,015.50 just that day alone. You can view up-to-date figures on the countries, customers, affiliates, and amount earned by affiliates for the day on the IQ Option affiliate page.
The IQ Option affiliate program does not allow for a negative balance, as there are no deductions from your profit, only profits. There is also cross-platform support with options for mobile and web, multilanguage support, and universal links. The program even provides analytics, complete with reports that include data filters.
In addition to the regular affiliate program, IQ Option offers an IQ Option CPA program, which it advertises as among “the most lucrative” programs of its type within the industry. Qualified traders can receive payments between $35 and $1,200. As with the regular affiliate program, the CPA program receives payments twice each month and gets useful data. There is also a convenient calculator to determine approximate income from CPA program affiliates.
History of IQ Option in Numbers
As mentioned, IQ Option was founded in 2020. Since then, the broker has grown considerably and includes specific figures on its website to help show its growth. Starting with the number of active users, there were 8,110,000 registered users in 2020, which had nearly doubled to 14,680,000 by 2020 and reached 25,580,000 in 2020. This represents registered user growth of a whopping 17 million just between 2020 and 2020.
Not only did IQ Option have an expansive growth in active users, but the countries that these traders were from increased. In 2020, IQ Option had traders in 135 countries, growing to 148 countries in 2020, 150 in 2020, and 151 in 2020.
IQ Option also lists the figures related to trades throughout the years. Between 2020 and 2020, the number of daily transactions increased by nearly 70 times. Between 2020 and 2020, this figure grew another 2.5 times. For those interested in specifics, 2020 had an average of 646,000 transactions each day, which increased to 956,000 by 2020 and 1.8 million by 2020.
Or you can look at the figures representing growth in terms of trading volume per month. Between and 2020, this figure increased by about 23 times. In 2020, the figure was $16 million, which became $89 million, an increase of 5.5 times in just a year. By 2020, this was $184 million, more than doubling in just a year. Between 2020 and 2020, the monthly trade volume increased to a whopping $380 million. This means that for two consecutive years, IQ Option doubled its monthly trading volume.
That trading volume does not all stay inside the platform. Instead, there is also an increase in the amount that traders withdraw from the platform each year, showing that the active users are truly earning money. In 2020, traders withdrew $1.5 million per month, which became $5.8 million in 2020 and $10.8 million in 2020. In other words, 2020 saw 1.8 times more money withdrawn by traders from IQ Option compared to the previous year.
It is also worth noting that these withdrawals have increased in speed. In 2020, IQ Option made changes to offer instant withdrawals. This allowed for 68 percent of withdrawal requests to be processed immediately. Now, the average time for processing a withdrawal from IQ Option is just one day. The order processing has similarly improved, now averaging just a second.
IQ Option also offers indications of how its customer support has improved over the years. When chat support began in 2020, there was an average wait of 7 minutes for a reply in chat, which decreased to 4 minutes in 2020, 46 seconds in 2020, and 38 seconds in 2020. On a similar note, the amount of time it took to answer a ticket decreased from two hours in 2020 to 24 minutes in 2020 to just 16 minutes in 2020. Some of this is also due to the growth of the support team, which only had 25 members in 2020 but grew to 39 members in 2020 and 78 in 2020.
The number of affiliates has also grown from 3,000 in 2020 to 84,000 in 2020. This included 21,000 affiliates in 2020 and 48,000 in 2020. Along with the growth of affiliates, those affiliates have consistently earned more every year. Affiliates earned $200,000 monthly in 2020, $810,000 in 2020, $2.3 million in 2020, and an impressive $4.6 million in 2020.
IQ Option Awards
Over the years, IQ Option has accumulated an extensive list of awards, each of which shows off one of the platform’s strengths. The Academy of Interactive & Visual Arts honored IQ Option with the 2020 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.
In 2020, IQ Option earned the Rising Star award for “The intelligent trading app for binary options” from the Mobile Star Awards, the largest annual awards program worldwide for mobile software and innovations. The organization praised IQ Option for its design and efficiency.
The Web Marketing Association honored IQ Option with the Best Technology Application in 2020 for the company’s mobile application.
IQ Option also earned the Century International Quality Gold ERA Award from the Business Initiative Directions Group as recognition for the company’s commitment to Excellence and Quality, especially within Customer Satisfaction.
Going back a bit further to 2020, IQ Option earned the title of Best Binary Options Broker Europe 2020 from the Global Banking & Finance Review. The broker also earned the title of Most Innovative Binary Option Platform from the IFM Awards in 2020, as well as the Best Mobile Trading Platform in the same awards.
Global Brands Magazine, which is a reputable brand observer in Britain, honored IQ Option with the title of Fastest Growing Binary Option Brand. In the Forex Awards 2020, IQ Option was named the Best Trading Platform. Also in 2020, the MasterForex-V awarded IQ Option as the World’s Leading Binary Options Broker and the Most Reliable Binary Options Broker.
The FX Report Awards named IQ Option the Best Binary Options Broker in 2020. In 2020, the same year IQ Option was founded, the company earned the title of Most Innovative Binary Option Broker from Moscow’s ShowFx World conference. At the IAIR Awards, IQ Option earned multiple awards, including the Best Binary Options Broker and the Best Binary Options Broker/Trading Application.
IQ Option Jurisdictions, Languages, and Countries
IQ Option has clients from 151 different countries. The platform and website are currently available in 13 languages, allowing traders from around the world to trade in a language they are comfortable with. For further international appeal, IQ Option lets traders select from one of the following currencies for funding: GBP, EUR, USD, Yuan, MYR, IDR, and RUB.
IQ Option is owned and operated by a company within the European Union. As such, IQ Option has a license from CySec, the Cyprus Securities and Exchange Commission. To receive that license, IQ Option met, and must continue to meet, minimum requirements related to marketing restrictions, client funds, and trading products. The registration in Cyprus as a financial services provider has number 247/14, giving IQ Option the ability to take on European clients, who then receive full CySec protections.
Due to CySec regulations, all client funds must be stored in segregated accounts that IQ Option cannot access for its own brokerage business. CySec regulators also offer a level of deposit insurance, which protects a certain level of all investments made with IQ Option if something happens to the broker.
IQ Option USA
Unfortunately, IQ Option is not available to traders in the United States. The broker is available in 178 countries around the world, but the United States has stricter restrictions and regulations, meaning American traders cannot use the broker. Other countries that you cannot use IQ Option in include Canada, Russia, Australia, France, Japan, Belgium, Turkey, Israel, Iran, Syria, and Sudan.
IQ Option Customer Support
IQ Option allows users to contact the support team via email, contact form and a chat function. The site claims to respond to all queries within 46 seconds and aims to resolve all tickets within 24 minutes. There are currently around 83 customer service specialists on the team and traders who require a more personalized service can upgrade to the VIP account which comes with a personal account manager.
IQ Option retains an international focus and aims to cater to traders from around the world. The platform offers the possibility to trade in a variety of different currencies such as USD, GBP, EUR, Yuan, RUB, TRY, IDR and MYR. In addition to this the site also provides support in languages such as English, French, Italian, Spanish, Portuguese, Chinese, Korean, Arabic, German, Turkish, Thai, Hindi, Urdu and Norwegian.
However, due to a variety of different regulations, the site does not provide its services to citizen or residents of the United States of America, Australia, Canada, Belgium, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea or Russian Federation.
IQ Option also adheres to the required standards of identification and users should note that when they register for a trading account they must provide their personal data and verify their email address and telephone contact number. Potential users who are unable to do this will be unable to complete their account registration.
- Also after funding your account, you will be asked to provide further personal information in order to complete your account verification. IQ Option will expect to receive copies of identification documents such as:
Passport or National ID Card issued by a Government Authority
- Proof of Address in the form of a Utility Bill or Bank Statement is required from EU residents.
IQ Option Customer Reviews
Most online reviews from customers of IQ Option are positive, but there is the occasional negative review, as should be expected. Some complaints relate to the fact that IQ Option requires KYC procedures to verify your identity before you withdraw funds. However, these procedures are normal for any broker dealing with fiat currency, and even many cryptocurrency exchanges require KYC procedures.
Some users also indicate that withdrawing funds can be challenging at times with the occasional issue related to having an account blocked. However, this does seem straightforward to resolve and may come down to KYC issues; the reviews are not clear on the cause.
Those reviews that indicate complaints against IQ Option are regularly interspersed with positive reviews. It also seems that many of the negative reviews posted online are not actually from customers. Instead, they are from people who claim to have had issues as a way to promote another service. When you look at online reviews from people who claim to be customers of IQ Option, remember to take them with a grain of salt since many are clearly from competitors or people with ulterior motives.
When read with a critical eye, the overall trend of seemingly valid reviews of IQ Option from customers seems to be neutral to positive.
Is IQ Option a Scam ?
While carrying out this review and researching other people’s opinions online, we found a number of complaints from people calling the site a scam. Some reasons mentioned are that they disabled a person’s account which didn’t allow them to withdraw their balance and a lot of disgruntled people who seem to have lost money trading on the platform.
But we also found overwhelming number of positive comments about the company which seems to point that the few who have had problems with them are the more vocal people online.
In our view there is absolutely no way this company can be considered a scam, the company is a tightly regulated business with a high revenue turnover, official business premises and high quality website and trading software.
Is IQ Option Safe?
In addition to practices such as maintaining segregated accounts for client funds, IQ Option offers security in several other ways. Unsurprisingly, the broker has full SSL encryption. As such, all communication that traders send to the broker’s servers is encrypted in a way that meets AES 256 Bit encryption standards. That encryption limits the ability of hackers to access information, letting IQ Option supply added protection of both client funds and information.
IQ Option is an impressive platform that provides its users with a great amount of value. The site merges a good level of transparency and functionality and users can be comfortable knowing that the platform is in keeping with the latest financial regulations.
Trading on the site is generally quite a smooth experience and the platform utilizes an intuitive UI that is easy to navigate. The platform and trading application is functional enough for professional traders whilst also being simplistic enough to allow new entrants to painlessly learn the trading process.
IQ Option is a company on the rise and has grown to managing almost 15 million accounts and processing 3 million trades per day. The site also enjoys a trading volume of $11 billion a month and pays out approximately $5.7 million to its users on a monthly basis.
The site does have its drawbacks, and users who require extensive interaction with a customer service agent may be unfulfilled by the two account levels. In order to be in consistent communication with a personalized account manager traders are expected to pay a $3000 fee which may be too restrictive for some. The site is also proving to be popular with traders around the world and despite IQ Option devoting time and energy to developing its customer service, there is the possibility that users may have to wait for more than 24 minutes in order to have their queries processed.
Finally, IQ Option is not available to the residents of countries such as the United States, Canada, and Japan. These nations are home to large numbers of financial literate individuals and the platform would be better off with their presence. However, IQ Option still caters to traders from over 178 countries and provides a comprehensive service to all its users. The platform caters to stock, Forex, and cryptocurrency traders and individuals who sign up can be sure to interact with an intuitive platform that provides access to a wealth of resources, and trading options.
Risk Warning: As always with trading, you should know the risks before hand – these are volatile markets where it is completely possible to lose large sums of money if you do not know what you are doing. Make sure to do your research, learn the platform inside out and never risk more money than you can afford to lose.
What are the Best Brokers for Options Trading?
In two simple trades, a man recently turned $766 into $107,758. Those kinds of trades spark interest from all kinds of investors, big and small.
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Options trading gained significant traction over the past five years, particularly with retail investors. In response to the increased demand, the best brokers now offer features once only available to the pros, combining amazing trading tools with low commissions and high-quality research tools.
Beginner investors and advanced active traders can now trade with options confidently thanks to risk management analysis tools that many brokers offer. We’ve looked into the best brokers for options traders and found the following platforms offer the most value to investors. With options trading, brokers earn a much higher profit margin than on a stock trade, but competition is intense, which offers more opportunities for investors.
This guide reviews each of the best brokers for options trading based on commissions, tools, order types, and incentives. While each of the apps offers unique features and benefits, all of them provide more than adequate tools to help you figure out how set up and execute anything from simple puts and calls to complicated, multi-leg bull and bear spread combinations.
As the famous investing champion of 1984 Martin Schwartz said, “A lot of people get so enmeshed in the markets that they lose their perspective. Working longer does not necessarily equate with working smarter. In fact, sometimes is the other way around.”
Let’s see how much smarter your trades will be when working with our top options brokerage firms.
Best Brokers for Options Trading
The commission fees for options trades have a different structure than stock trading. They may be higher and a bit more complicated. While some brokers have removed the base fee, there is typically a commission for each contract being traded.
There are several base charges for each trade and because options strategies often include 2 to 4 legs or more, the costs of placing a trade are more expensive than stock trading. Options also require a margin account rather than a cash account.
However, investors with bigger portfolios may be able to use portfolio margin minimize the risk of a margin call by offsetting netting gains in one option trade with losses in another.
1. Interactive Brokers – Overall Best for Options Traders
Interactive Brokers ranks high in most reviews because of its variety of smart, and easy-use-tool tools for investors interested in global investing trends. Although the firm once catered specifically to active and advanced trading, they have expanded and evolved their offerings to suit less active and less experience traders.
Here’s a quick list of what we love and don’t love so much about the broker when it comes to options trading:
- $0 account minimum and zero per-leg fee
- Lowest margin rates in the industry
- Comprehensive selection of options-based lessons
- Unable to view quotes on more than one screen at a time
- Customer service is not on par with competitor brokers
Impressively, Interactive Brokers clients can access any electronic exchange around the globe to trade options, equities, and futures.
We have ranked them as best overall broker for options trading because of its interactive mobile app, customizable Trader Workstation platform that includes OptionTrader, and cool spread set-up.
Clients can download Interactive Brokers Trader Workstation (TWS) app, or access it on the website. The platform has become increasingly more user-friendly and customizable, helping traders of all levels strategize and implement a winning plan.
The TWS OptionTrader feature displays market data, and allows you to easily create and implement more complex strategies such as combination orders. A favorite feature of the app is that it’s designed to be used through voice command, with minimum typing – sign us up!
A slightly inconvenient downside, however, is that traders can only see option chains on one screen at a time, so if you have the app open on your phone and then try to get a better picture on your laptop, one platform will become restricted.
Another downside is that anyone with less than $100,000 in assets in their account will pay a fee of $10 per month and may be charged other fees to receive data in real-time.
Finally, you will have slightly less features in the app compared to others. However, we don’t think any of the missing features will materially decrease your performance. Your watchlists and alerts will all remain synced.
Now for more of the good stuff.
Newer traders will especially love Interactive Brokers’ IBot feature. This feature has been designed to understand and reply to questions asked in simple, plain English. This means that you can ask questions in your own words, whichever way suits you best, and IBot will understand.
For example, you can ask, “Give me a 1 hour line chart of AAPL”, or “Close all my positions” without any need to know specific financial terms.
Last but not least, we’ve chosen Interactive Brokers’ as the best broker for options trading because it gives clients the ability to set up a spread in no time and then move it to a future expiry with just a few quick clicks. For traders who use options as a way to supplement their monthly income, being able to easily roll their positions really helps to keep things simple!
To help you make the best decision, the brokers’ Probability Lab lets you see the probability distribution for any market and try out the trade virtually before betting any real money.
Overall, if you’re looking for a broker with a bank of smart tools, a great app, and maybe even want to learn more about options trading, then Interactive Brokers might be the perfect match for you.
2. Ally Invest – Best Budget Option
Ally Invest comes in second place, and is our top pick for the best low cost options broker because of their low fees and beginner friendly yet robust tools. The broker offers no account minimum, an excellent web based platform, and commission-free trades on options, stocks and ETFs. Here’s what Ally Invest does best, and where it falls short:
- $0 options, stock and ETF trades
- $0 account minimum
- Excellent web platform
- Advanced research and tools
- Mutual funds incur a transaction fee
- Fully online service with no branches
“An informed trader is a smart trader” – Ally Invest
Think you might benefit with more education on options? Ally Invests educational material on options are top quality. Learn everything from the basics of what is options trading to an introduction of understanding option greeks and dividends. Have a browse through their well-laid out options articles to see if they might help improve your trading.
But fees is where Ally really stands out. If you’re on a budget and/or want to minimize the impact that high expenses can have on your returns as much as possible, then hop on the Ally Invest offers wagon.
The broker offers affordable, transparent, competitive fees, that won’t slow down your financial targets. Take a look at Ally’s Straight Talk Fees Guide for an upfront and straight-forward run through of fees including; regulatory fees, credit interest, individual retirement, and service fees.
In a comparative list of fees against some of the biggest names in the business, Ally Invest comes out on top. You can see how they compare in the table below:
|Brokers||10 Contracts Standard Pricing No Account Minimum|
|Ally Invest||$0 commission fee + 50c per contract|
|Schwab||$0 commission fee + 65c per contract|
|TD Ameritrade||$0 commission fee + 65c per contract|
|Merrill Edge||$6.95 commission fee + $.075 per contract|
|Fidelity||$0 commissions + $.065 per contract|
This can all seriously add up to expensive costs and if you’re looking to stick to a budget then these can really throw you off, making it an important factor in your decision making; especially if you have, or plan on creating, a larger portfolio. This table shows that while almost all competitors have moved to $0 commission fees, Ally Invest have the lowest per contract fee at $0.50 per contract in comparison to Schwab’s, TD Ameritrade’s, and Fidelity’s $0.65 per contract.
Not only this, but Ally Invests options tools are pretty on point. Some of them include:
This tool helps you “crunch the numbers” to get a better understanding of a trades potential value before making any decisions.
Options traders can use Ally Invest’s probability calculator to help you determine how close (or far) you are from reaching your goals by using implied volatility.
Easily view what readily available to you and place trades with Ally’s intuitive display.
Research and Market Data
The importance of quality and up-to-date research can’t be underestimated, and Ally Invest know that. The broker offers customized market stats, news and comprehensive metrics on the companies you have your eye on. This feature will show you company quotes, charts, high/low prices, news, peer performance comparisons, among other things, to help you get a better picture of a company’s current climate.
As you can see, Ally’s low fees, beginner-friendly education options, and suite of tools make them the best budget friendly option. But, before you make your decision, check out Ally Invest’s options playbook where you’ll see examples of strategies get your creative juices flowing, while also taking into consideration your experience, risk tolerance, and goals.
3. TD Ameritrade’s ‘thinkorswim’ Platform: Best for Options Tools
Are you new to options trading? You can easily get started on TD Ameritrade’s app or website by using its intuitive thinkorswim platform. With amazing tools and educational content, traders also have access to live coaching for options as well.
- Free per-leg options trading with no commissions in the US
- Charges $0.65 per options contract
- Incredible webcasts available for options on TDAmeritradeNetwork.com
- Use trading simulator to practice trades
- Educational tools for learning complex spreads
- Thinkorswim offers tools for options strategies, rolling spreads, and assessing risk
- Pretty high margin interest rates
- Some features difficult to use on thinkorswim without coaching
- Two different platforms for options trading makes it a bit confusing
If you are an advanced trader, the thinkorswim platform offers a lot of new tools and research options for options traders. You can select from hundreds of different options and look at risk management tools.
You can also build your own studies with over 500 signals on the downloadable platform or the mobile app. However, the two platforms offer different experiences so learning one doesn’t necessarily mean you’ll intuitively understand the other.
Options traders use the thinkorswim platform to study options strategies, set up rolling spreads to future expiration dates, and assess risk. For inexperienced traders, you can use the site to access education tools for understanding more complex spreads. If you check what you want to learn, TD Ameritrade will customize an education menu for you.
4. E*Trade: Best Learning Platform for Options Trading
E*Trade started off as the only online broker, and it has a long history of supporting beginner investors with educational tools and courses. However, expert-level traders can use its OptionsHouse platform to find more data and research on the latest spreads.
- Options are $0.50 to $0.65 per contract, depending on how much you trade
- Charting and forecasting tools available on Power E*Trade platform
- Customizable trading ladders and options chains
- Multi-leg spreads have an additional base commission charge
- Very high margin rates
If you are an options trader, E*Trade offers some of the best research tools and spread options. Recently, the company bought OptionsHouse and then relaunched as Power E*Trade.
Now, this platform offers access to streaming strategy options chains, which is pretty different from many other platforms. The abundant amount of education content that helps you grow into more advanced spreads and strategies.
E*Trade lets you work on complex spreads and customized options. For example, you can set up an iron condor strategy and define the strike width of your option spread. Only the data relevant to your options spread will stream for you.
There’s also a performance risk tool on the side that shows you the risk on any individual holding, but you can also see what it says about your entire portfolio. You can use six different risk ranges to stress test your portfolio.
Technical Insights is another analysis feature that gives you access to spectral analysis charts and shows you how your spread might perform in the future. With other tools like LiveAction scanners, you’ll see all of the potential trades based on the criteria you set in real-time.
5. Charles Schwab: Best for New Options Traders
For an all-around professional options trading platform, Charles Schwab offers great tools with full-service options. You can open a new account and get commission-free options trading in the US. However, they do charge a base fee of $0.65 per options contract.
- Use the Idea Hub with StreetSmart Edge platforms to see new trading ideas
- Access options trading lessons that allow you to grow your skills
- Check out a wide array of asset classes that can be traded on a variety of platforms
- Excellent research tools for all options spreads
- Unique trade orders
- Options trading tools spread between too many apps
- Clumsy dashboards make it difficult for portfolio analysis on just one platform, web or mobile
- Typically higher margin rates than average
Charles Schwab offers tools like StreetSmart Edge, which you can access via your browser or download to your computer. This platform is based on optionsXpress, which Schwab took over in 2020.
In addition, the All-in-One Trade Ticket gives you access to spread tools that let you select the type of trades you want from a drop-down menu. From there, you can select the legs through the options chain display. If you are familiar with options, this makes it very easy to set up your trades.
The Idea Hub also lets you look at all of the options contracts available sorted by their market activities or projections for profit in four categories specific to options. These include covered calls, premium harvesting, big movers, and earnings. You can analyze any of the ideas presented by Idea Hub and then click on “Trade” to simply fill the order.
If you like emerging options or need more education on options, you can use Charles Schwab’s intuitive tools to get more familiar with options spreads. The fees are pretty low, but for more savvy options traders, the tool helps you spot transactions that will negatively affect your margin balance.
6. Tastyworks: For Specialized Options Trading
This DIY discount brokerage started from the founders of TD Ameritrade’s thinkorswim platform. Launched in 2020, Tastyworks is a run by Tastytrade and offers an online financial network. It’s a niche trading platform that caters specifically to options experts.
- Conveniently trade all kinds of options and spreads through different platforms
- Offers expert tools and options for active traders
- $1.00 open options trades and $0.00 to close
- Fast, accurate executions
- Very stable and fluid tools on the web browser platform
- Focused on derivatives in particular
- May be challenging for newcomers to understand
- Not all asset classes are available
- Does not include a strong portfolio analysis
Tastyworks is suited for active options traders who want more advanced options for specialized trades. While the platform has some educational content, it’s mainly used by experienced traders. There are three ways to access and use Tastyworks including the website, mobile apps, and a downloadable application.
The downloadable version has the most bells and whistles for active options traders. All of the tools help traders with probability, volatility, and liquidity. Much of the education revolves around understanding volatility as founder Tom Sosnoff believes that it’s the best way to understanding profitable trades.
Executions are typically fast on this platform, and the costs are lower than average with equity option trade commissions set at $10 per leg. Though beginners might be uncomfortable at first, those who enjoy options and understand the basics can use the niche features and content to their advantage.
7. Robinhood: The Best No Commission Platform for Options
Robinhood is a newer platform that changed the game when it came out with a no-commission approach to stocks, ETFs, and options trades. You also don’t need to have an account minimum to sign up for Robinhood, and it’s completely mobile-first.
- No commissions ever on options
- Streamlined mobile app
- Great for new investors who only want specific options
- Easy and low cost margin trading
- No retirement accounts
- Only individual taxable accounts
- Very limited in education resources and online tools
- Does not support mutual funds and bonds
- No phone support
Investor Warning: Carefully consider the investment objectives, risks, charges and expenses of any investment company before investing. All securities trading, whether in stocks, exchange-traded funds (“ETFs”), options, or other investment vehicles, is speculative in nature and involves substantial risk of loss. Robinhood Financial encourages its customers to invest carefully and to use the information available at the websites of the SEC at http://www.sec.gov and FINRA at http://FINRA.org.
This minimalist stock trading app gained notoriety for being the first stock trading platform to offer commission-free trading. In fact, it could be the reason that many stock trading apps removed fees in October 2020.
Robinhood is the bare-bones options trader for mobile. It doesn’t have many of the bells and whistles of larger brokerage apps like TD Ameritrade or E*Trade, but it doesn’t have to.
Being successful on Robinhood simply means knowing how you want to trade options and doing it in a very minimal style. Without any fees whatsoever and low margin rates, you can save a lot of money when it comes to trading options.
However, you won’t get any spread intelligence tools or portfolio testing tools. You simply use the mobile app to make your trades and check on your portfolio.
While professional traders may find it limiting, hobbyist investors looking to make some extra money with options can benefit from Robinhood’s no-fee structure and minimalist platform.
8. TradeStation: The Best Options Trading Platform for Experts
TradeStation started as an advanced software just for traders. Now it has more options and a mobile app to help those expert traders who love stocks, options, and futures.
- Fast, highly successful trade executions
- No fees per trade (but not on ETFs)
- $0 base on TradeStation Go app with $0.50 per contract
- $1 per option contract
- Comprehensive research and charting tools
- Very active trader community
- Minimum balance required
- Highly customizable but also overwhelming for new traders
- No phone support if you are not a full-service client
TradeStation really shines for options traders because it does not charge any commissions. Options traders also can use the OptionStation Pro platform, which has a preview mode on the mobile app. You can also create custom watch lists, view charts, and review trends in real-time.
For research, TradeStation also earns high marks with more than 150 indicators to include in your test strategies. The platform includes over 90 years of stock trading data and also has over 40 years of intraday data.
While you will love access to a plethora of options research tools, there are some drawbacks to this platform. It’s made for advanced users, so when it comes to trading, you’ll need to go through some tutorials first. There are also additional fees and a subscription to access some of the “pro” features.
TSgo is the company’s commission-free offering. However, if you want a regular trading account which includes access to TradeStation’s downloadable platform on your computer, you’ll be charged a $5 flat fee for commission schedules.
If you plan on using TradeStation’s TSgo plan with their mobile app, then you won’t have to worry about fees. You may need to get involved with their community to get some tips on how to use their options tools, but otherwise, it’s pretty straightforward and experienced traders love it.
What Type of Options Trader Are You?
Have you thought about what type of trader you want to be? If you already trade-in options, you probably have a strategy to mitigate risk and reap the awards. However, some platforms have different tools and offer more complex spreads.
Options can be complex, and while all of the brokers above offer different options tools, some are built for more complicated positions. You may be able to take only one position per order, which means that you will need to place several individual orders at one time to create your position.
If you are a beginner to options, you may have studied how options control a fixed amount of a security. Typically this means you can buy one option that controls 100 shares of stock.
Options are also broken down into calls and puts. “Calls” state that you have the right to purchase the underlying security, and a “put” means that you have the right to sell it. Options decrease in value as their expiration dates draw closer. When you buy a call or put option, you restrict your risk to the option’s original buy price and any fees charged by your broker.
While most stock trades are straightforward, there is a learning curve with options trading. There are generally four main types of options orders.
Buy to Open
Do you want to buy a call or put option? You’ll use buy to open. This is probably the most common type of options trading. Traders use the buy to open order when they want to establish a short or long position on an underlying security.
If you anticipate that a particular options contract will surge in price, then buy to open orders are perfect. You can buy call options to open a long position and put options to open a short position. When buying options, your downside is limited to the price of the contract. When you want to exit your position in the future, you would place a sell to close order.
Sell to Open
In this options trade, the trader wants to open a trade and sell off the option by making “naked calls” or “naked puts.” If you think an option is likely to fall in value and you want to take advantage, then you can set up a sell to open order to sell call options that would create short position in that option.
You can use a sell to open option to profit when you believe the price of the underlying security is going to rise by selling a put. This means that you’ll be going long on the option’s underlying security by allowing you to buy that appreciated security at a lower price in the future. When selling options, your downside is unlimited and you can lose more than the amount you have invested.
Buy to Close
If you want to close out an existing option trade, you would use the buy to close option. In this case, you opened a trade that was originally a sell to open transaction. You sold a call or put through this option, which placed you in a short position on an underlying security.
Once you establish that you’re ready to exit the trade, the buy to close option concludes your short position. For a put trade to profit in a buy to close option, you need the underlying security price to fall enough that it drives the put option price below your break-even point. If you had a call trade to profit, then the underlying security price must remain under the sell to open price of the option.
In most cases, as you establish a short position with an option, you are given a credit called an option premium. The short position opens you up to some risk as you could incur a large loss if the trade moves swiftly against your position.
If an underlying security’s price continues to trend upwards, then your losses will be much greater. In this case, it would cost you a lot more to buy an option that is trending upwards quickly.
Sell to Close
If you want to close an existing long option, then you would use the sell to close trade. This occurs when a trader who bought an open order to go into a longer straddle decides to close out the position.
Traders use these types of orders to gather profits after the option you own goes up in price. You can also use the same type of order to get rid of options contracts that are dropping in value to cut your losses.
Combination Orders, Market Orders, and Limit Orders
In options, there are a lot of strategies. You can use education tools on most trading platforms to understand them, but it can be difficult at first for beginners.
Combination orders happen when you combine put and call options to enter into a trade. For example, one strategy is called an iron butterfly and allows the trader to combine a sell to open and buy to open.
The thing to remember is that whenever you are setting up a trade, you are using a buy to open or sell to open. When ending a trade or closing out, you use a buy to close or sell to close option.
Market orders tells the broker that you want to buy or sell the option at the current market price. However, your broker will make the purchase some time after you instruct to purchase or sell, so you could have the order filled at a bad price if the market suddenly drops.
In most cases, your market order is filled instantly, and you won’t have any issues. However, you may pay more to the broker if the order is quite large but the trading volume is thin.
Limit orders allows you to specify a buy or sell at a certain price point. This helps you avoid issues with the market dropping at the time of a broker’s purchase or sell off, but it also helps if you know current stock trends and want to take advantage of a stock you think will fall or go up in price in the near future.
Which Vertical Option Spreads Should You Use?
These are advanced options strategies, but there are typically four types of a vertical spread including bull call, bear call, bull put, and bear put. Options spreads are commonly used on trading platforms to minimize risk and place bets on different market outcomes with two or more options.
With a vertical spread, a trader can purchase one option and sell another at a higher strike point at the same time just by using both calls or both puts available.
Bull vertical spreads only get profits when the underlying security price rises. A bear vertical spread earns more money when the price falls.
Wrapping Up: Are Options Trading Platforms for You?
Options are pretty advanced for most traders, but they can be quite lucrative if you know how to bet and spread the market.
As you learn more about options, you should pay attention to platforms that don’t charge too many fees and have several education tools to help you learn more about options trading, bull call spreads, and so forth.
As you become more familiar with options combinations, you can use testing strategies and simulators on certain trading platforms like TD Ameritrade and E*Trade to see how your trades could possibly earn you more money.
Still interested in more trading platforms? See our complete platform reports for forex brokers, robo advisors and day trading platforms.
Tim Fries Tim Fries is the cofounder of The Tokenist. He has a B. Sc. in Mechanical Engineering from the University of Michigan, and an MBA from the University of Chicago Booth School of Business. Tim is also the co-founder of Protective Technologies Capital ( protechcap . com ).
IQ OPTION Review 2020
Last updated: October 8th, 2020
Is IQ OPTION a scam OR one of the best trading platforms in the world ?
Table of Contents
Don’t sign up before you read this IQ OPTION review
Me and my colleague have performed a thorough IQ OPTION review, without the broker knowing it of course.
Here is our true experience!
- Forex + FX Options + Binary Options+ Crypto
- Min. deposit only $10
- Large community of traders who interact
- Very user friendly trading platform
- Easy to use
- Good customer support
- Demo account free
- Many local payment options for your country
- Islamic account available
- No VPS
- No MT4/MT5
- Slightly more expensive
- Not accepting USA traders
- No Bonuses
**Your capital might be at risk.
Details about this broker:
|✅ Visit broker|
|✅ Name of company||IQ OPTION|
|✅ Trading platforms||+ Forex Trading Platform
+ Binary Options Trading
+ Cryptocurrencies Trading
+ CFD on Stocks, Stock Indices
|✅ Forex pairs available||22 currency pairs available !!|
|✅ Minimum first deposit||$10|
|✅ Max. leverage||1000:1
30:1 for E.U. clients
|✅ Languages available||English, German, Espanol, French, Indonesian, Italian, Portuguese, Swedish, Thai, Chinesse .|
|✅ Max payout if winning for binary option trades||92%*|
* max.payout in case of a winning trade
IQ OPTION trading instruments
The investor initially has a choice of 79 trading instruments in the following categories: commodities
- foreign exchange (forex)
- binary options (not for EU citizens)
- forex options
- crypto currencies
- equities (stocks)
While gold is the only one commodity and only six different stock indices are offered, the selection for the other two categories is significantly larger.
Even if one or the other may find this selection too small, our experience has shown that the values for the trade seem to have been carefully chosen. With the exception of indices, 24 hours a day trading is possible in all categories, with at least one asset from a specific sector being always available in the equities category. Thus, strategies that focus on a specific economic segment are very well possible.
**Your capital might be at risk.
1. FOREX TRADING
A quick glance at the foreign exchange offer: All combinations of the majors and some other currencies such as the New Zealand dollar, the Russian ruble or the Swiss franc can be traded here. There are a total of 22 pairs are available.
IQ OPTION offers you the opportunity to trade a total of 22 currency pairs. You have at your disposal not only the major currency pairs (EURUSD USDGBP, etc.) but also some smaller world currencies such as the New Zealand dollar, Russian ruble which can also be traded in combination with major currencies €, USD, British pounds etc.
2. BINARY OPTIONS
As the name of broker implies, IQ OPTION started as top notch binary options brand but has quickly turned into global trading brand (not only binary options but all kinds of trading instruments!
You can choose between two types of trading, as is the case with binary trading:
Put options and call options
Traders can use put options to speculate on falling prices, and use call options to bet on rising prices. Turbo options with particularly short expiration time frames with durations of 30 and 60 seconds are also available for trading, but due to the associated high risk, they are more suitable for more experienced traders.
The following time frames are available for binary options platform:
- 30 seconds
- 60 second
- 2 minutes
- 3 minutes
- 4 minutes
- 5 minutes1
- 5 minutes
- 30 minutes
- 60 minut es
- 24 hours
- 7 days
- 30 days
Particularly noteworthy is the fact that investors can also trade on the weekend when the regular trading venues are closed. For this, IQ Option offers OTC trading. This abbreviation stands for “over the counter” and means that trading takes place directly between the parties, ie between the broker and the investor, outside the regular stock exchange. Interesting are the regularly organized competitions in which traders can compete against other traders.
As of 2nd July 2020 ESMA European Union has forbidden the trading of Binary Options to retail traders who are European Union citizens.
3. FX Options from IQ OPTION
A brand new offering that was recently added into portfolio of trading instruments.
FX Options are basically a combination of real option trading and forex trading.
Why is it better than binary options ?
- there is not anymore “0 or 1” OR “earn something or loose all” principle – meaning even in case you dont guess the trade right, you will not lose the whole amount you put at stake !
- earning potential in case your assumption was right is unlimited
- if you think the currency pair will go up in specified time frame then you do CALL OPTION and vice versa use PUT OPTION for declining market price
- you will not lose more than you put at stake
Currently (beginning of 2020) there are totally 12 different cryptocurrencies that you can trade on IQ OPTION platform:
- Bitcoin / Bitcoin CASH
- ETHEREUM Classic
We think they will add more and more cryptos over time, as new ones become popular. So far we think this choice is wide enough.
As the only commodity currently available, the precious metal gold can also be traded as a binary option.
6. Equities and Stock Indices
At the moment there are 49 Stocks available for trading.
Nowadays traders have up to 79 different asset classes available from commodities, forex, indices and stocks. The only commodity currently available is only GOLD and the stock indices are only six, the choice of stocks is much wider than the other two categories.
Stock indices are focused on London stock exchange index (FTSE 100), Frankfurt (DAX 30), Paris (CAC40) and New York (S&P500 / NASDAQ / Dow Jones). Besides many European and American stock titles, some Asian shares such as Toyota and Bank of China are available for trading. Overall we can say that the emphasis is put on stocks from banking and financial services, energy, the internet and telecom industry with which you can speculate.
You can trade via mobile Apps, webtrader or standalone platform.
Unfortunately, there are currently NO bonuses offered!
IQ Option Europe Ltd. is registered at Cyprus, and is regulated by CySEC. IQ Option Ltd. is registered at Seychelles, this entity is not regulated.
How fund to your account
In addition to the two credit card variants VISA and MasterCard, IQ Option investors also have the option of using a number of internet payment services for deposits and withdrawals. The list of available providers includes Skrill, Neteller, Webmoney, and of course WireTransfer. These services handle payments very reliably. However, no detailed information is available on the fees charged when using IQ Option service for payment services. It is therefore advisable to contact customer service on this matter in order to clarify this. Because even the general terms and conditions help in this case only conditionally, as these currently, like many other contents, are only available in English. Here, from the customer’s point of view, there is still room for improvement. Incidentally, the minimum deposit that IQ Option requires from customers is relatively modest at just $10.
IQ OPTION demo
There is, of course, a demo account where you can practice your trading strategies without any risk using $10.000 virtual money. You can trade all types of assets completely stress free.
Quality of customer support
The conclusion of IQ OPTION review
“During this test we noticed that IQ OPTION platform and OVERALL services THEY OFFER are a step ahead compared to the competition! No wonder that they survived the big cleanup in binary options industry and now start to take their share in forex trading industry.”
Let us explain you why.
First of all, during our test, we noticed, that this brand puts really strong emphasis on trader’s education + on the quality and constant improvement of their trading software and last but not the least on the security of client’s funds.
Secondly, according to what we noticed, the client verification process is in line with the strictest regulation rules. In other words, IQ OPTION is one of few brokers out of all forex brokers that we tested, where you as a trader have the feeling that they want you to trade profitably and stay with them for long term, instead of just taking your money and run away (which is usually the case with many other brokers in this industry). That’s indeed a good signal for a new trader!
Last but not the least .. we think they have really knowledgeable customer support.
Similar as competition, IQ OPTION is available by phone, email, and live chat. In addition, there is also a mailing contact (a little old-fashioned but you never know when you will need it). Upon calling for customer service, a responsible client support person will either immediately pick up the line and and try to resolve your issue right away OR the system will create a so called “Problem Ticket Nbr.” where you report a problem, and employees will call you back later. This is a nice service to have, because it could perhaps save you a lot of money on your phone bills.
Broker contact details:
|IQOPTION EUROPE LTD|
|Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102, Agios Athanasios, Limassol, Cyprus|
|Phone||+357 25 262 010|
|LiveChat||Yes for clients|
Trading CFDs carries a high level of risk since leverage can work both to your advantage and disadvantage. 76% of retail investor accounts lose money when trading CFDs with this provider. As a result, CFDs may not be suitable for all investors because it is possible to lose all of your invested capital.
Great info. Lucky me I found your website by chance (stumbleupon).
IQ Option Review
IQ Option is an online trading platform that allows you to trade a variety of financial instruments including binary options, stocks, forex, ETFs, commodities, and cryptocurrency.
This broker was founded in 2020 and is operated by IQ Option LTD. IQ Option has rapidly become one of the most popular trading platforms for traders across the world with over 48,000,000 registered users and over 1,000,000 transactions per day. IQ Option accepts traders from over 213 countries including India, Nigeria, South Africa, The Philippines, Malaysia, Pakistan, Singapore, and many more.
IQ Option is based in Cyprus and regulated by the CySEC (Cyprus Securities and Exchange Commission).
In this IQ Option review, I’ll tell you everything you need to know about this broker to help you decide whether or not this company is right for you.
Custom-built Proprietary Platform
iOS, Android, Windows, and MacOS
ETFs, Digital Options, Binary Options, Forex, Cryptocurrency, Commodities, Stocks
Countries Not Accepted:
United States, Japan, Israel, Turkey, Belgium, Russian Federation, Australia, Canada, Germany, Italy, Netherlands, Romania, Spain.
Credit Cards, Debit Cards, Maestro, Skrill, WebMoney, Cash U, Neteller, and Moneybookers
Processed Within 1 Business Day.
Table of Contents
IQ Option Trading Platform
Unlike other brokers that use a standard trading platform, IQ Option has a proprietary custom-built platform to cater to the needs of its users. The platform is very easy to use and is well-designed. It has many useful features including multi-chart layouts, technical analysis, historical quotes, volatility alerts, market updates, stock screeners, economic calendars, and more. It’s also available in 13 different languages.
Within the IQOption trading platform, you can trade a variety of assets and financial instruments including stocks, digital options, binary options, forex, crypocurrencies, ETFs, and commodities. However, it should be noted that binary options are prohibited in the EEA.
In the image below, you can see that the chart is in the middle. The Buy and Sell boxes are on the right-side. Your account balance and the asset you’re trading is located at the top of the screen.
On the left-side of the platform, you’ll see a drop-down box which allows you to choose which financial asset you want to trade. Your available assets to choose from include Cryptocurrencies, ETFs, Stocks, Options, Forex, Indices, and Commodities. You can browse assets by category or use their search function to find a specific asset.
On the right side of the trading platform interface, you will have the option to enter the amount you wish to trade and whether you want to Buy or Sell. You can also enter a multiplier if you wish to multiply your potential profit by a coefficient. However, a multiplier increases the risk as well. You also have the ability to close the trade automatically if the asset reaches a certain threshold that you set forth.
Video Demo of How To Trade With IQ Option
What Assets Can You Trade With IQ Option?
IQOption originally started off as just a binary options broker, but they now offer clients the ability to trade Contract For Difference (CFDs) on Cryptocurrency, ETFs, Forex, Stocks, and a variety of binary option contracts.
As of this review, IQ Option allows you to trade CFDs on 169 of the best-performing stocks without opening fees. The minimum investment is $1 for Stock CFDs with leverages up to 1:20. Their list of stock assets include some of the biggest companies in the world such as Apple, Tesla, Amazon, Boeing, and many more.
FX trading is one of the most popular trading markets on IQOption. This broker offers competitive spreads and a wide range of currency pairs including EUR/USD, USD/JPY, GBP/USD, USD/CAD, AUD/USD, NZD/USD, and USD/CHF. Currently, there are 50 Forex Pairs on the IQ Option platform.
IQ Option gives you the ability to trade CFDs on Exchange-Traded Funds, also referred to as ETFs. An ETF is where many different assets are combined into one basket. There are 25 ETFs currently available to trade.
IQ Option allows you to trade CFDs on 27 different cryptocurrencies including Ethereum, Bitcoin, Ripple, Neo, Cosmos, Binance Coin, Litecoin, Cardano, ZCash, TRON, Stellar, Iota, Dash, EOS, and Bitcoin Cash. You can expect great margin trading leverge and short selling options with quick deposits and easy withdrawals.
IQ Option currently offers CFDs on 5 commodities including Silver, Crude Oil Brent, Crude Oil WTI, Gold, and Platinium.
Trade Types and Payouts
Binary options is a financial instrument that pays a fixed return for a correct market prediction on the price of an asset within a predetermined time-frame, or expiry time. Correctly predicting an asset’s price movement (up or down) can result in a profit of up to 95%. Trading binary options on IQ Option has a $1 minimum investment, $0 brokerage fees, and expiry times ranging from 60 seconds until the end of the month.
Digital Options (CFDs)
Digital Options is a financial instrument that allows you to speculate on the extent of the price movement of an asset. Payouts for digital options can go as high as 900% if the asset reaches the threshold specified by the trader. The minimum investment for digital options is $1 and the expiry times range from 60 seconds to 15 minutes.
IQ Option offers over 15 different technical indicators to help you identify trends and to spot profitable trades. The 15 technical indicators that are available to you include: MA, Volume (exchange), Bollinger Bands, Alligator, RSI, MACD, Parabolic SAR, Stochastic Oscillator, Awesome Oscillator, ATR, ADS, Fractal, CCI, Ichimoku Cloud, KDJ, DPO, and Belkhayate Timing.
In order to help you get the most benefit from trading with IQ Option, the broker offers a variety of charting tools that can help you formulate a successful trading strategy. The 5 charting tools available on IQ Option include Area, Line, Candles, Hollow Candles, and Bars.
IQOption offers clients the ability to trade options and CFDs using their proprietary mobile application. The mobile app works on Android and Apple iOS operating systems. It is available for download via the Apple Store or on Google Play.
The app is very easy to use and has a very clean and intuitive graphical interface. It has the same charting options that you can find on their regular web-based platform as well.
By using the IQOption mobile app, you can:
- Execute Trades
- Check Account Status
- Stay Updated With Market Developments
- Use Charting Tools
- Setup Customizable Alerts and Push Notifications
- And More
IQ Option has 2 different types of trading accounts to choose from: Standard and VIP.
For a standard trading account, just a $10 minimum deposit is needed. Unlike other CFD providers, there are no restrictions on trading functionality. You get access to over 350 assets to trade as well as 24 hour withdrawal processing. You also get access to several trading competitions that are held on the IQ Option platform (only applies to customers outside of the EU).
A VIP trading trading account is only available for clients that deposit $1900 or more within a 2-day period. A VIP account includes a personal account manager, monthly reports on your trading records, and 3% in additional returns. VIP accounts are only available to customers outside of the EEA.
IQ Option Demo Account
Like many brokers, IQ Option offers a free demo account that includes $10,000 in virtual money. There is no limit on how long you can use the demo account for. This offers you the ability to test different trading strategies and to get familiar with the platform before investing real money. If you run out of virtual funds inside of your demo account, you can have them replenished so you can continue practicing.
You don’t have to register or give out your personal information in order to access the IQ Option demo. This is not always the case with other brokers, as a lot of companies require you to provide at least an email address in order to gain access to their demo.
IQ Option has recently came out with a product known as “Cryptocurrency Multiples”. The product basically works the same as a leveraged trade, where the price movements of an asset is magnified by a multiplier. Cryptocurrency multiples was originally produced with the idea of Bitcoin X 100. This essentially increased the price movement by 100X times, which created a large opportunity, as well as risk, for traders.
Due to the popularity of Bitcoin X 100, IQ Option has expanded the concept to IOTA, Ethereum, Ripple, and other cryptocurrencies. The multipliers you have to choose from include X20, X50, and X100. However, the cryptocurrency multipliers are only available for citizens outside of the EU.
IQ Option is one of the only brokers that offer a product called FX Options. Currently, this product is only available for the 5 main currency pairs.
FX Options are available in regulated markets inside the European Union. They are similar to binary options because they offer a fixed-risk investment. You understand the potential profit and risk upfront. Each FX Option has an expiry time and the potential profit depends on the asset’s price. Payouts can reach up to 2000% and there is a minimum trade amount of $30 for FX Options.
It’s also important to know that FX Options can be sold at any time, even before expiry time is reached. This is a useful feature that can help you lock in profits or cut losses.
IQ Option offers its traders a variety of order types and stop loss tools to help minimize losses and maximize profits on binary option trades.
Stop Loss Orders – This feature allows you to set a maximum loss that you’re willing to accept on a trade. When this order type reaches the amount you specified, the trade automatically closes to limit your loss.
Multiplier Orders – This feature allows you to improve your return on investment via a multiplier. If you set a multiplier, the price movement of the asset will increase by 20X, 50X, or 100X. This feature can dramatically increase your profits as a result, but it can also expose you to more risk as well.
Take Profit Orders – This feature is the exact opposite of a stop loss order. You can close a trade early and take your profit when it reaches your specified amount.
Pre-Order – This feature allows you to enter the market when an asset reaches the exact price that you specify. Once the asset reaches that price, the trade will be executed automatically.
Regulation and Security
Over the years this binary option broker has been operational, it has won multiple awards praising it’s quality of service and reliability for customers. IQ Option is recognized as one of the best brokers in the industry by many millions of traders worldwide.
IQ Option is regulated by the CySec and is registered in Cyprus under the company name “IQ Option Europe LTD”. This means that they are able to service clients within the EEA.
For traders that reside outside of the European Economic Area, their trading accounts are managed by a sister company known as “IQOPTION LTD”. This company is registered in St. Vincent and Grenadines, and this entity is not regulated.
The minimum deposit for opening a real account with IQ Option is $10 USD/GBP/EUR. This broker does not charge any processing fees for depositing funds. In order to make your first deposit, you will have to go through an account verification process which might require photo identification. Some countries will have different requirements than others.
For your convenience, IQ Option offers many different ways to deposit money into your account including credit cards (Visa and Mastercard) and wire transfers. This broker also accepts many different E-wallets including Skrill, Maestro, WebMoney, Neteller, Cash U, and Moneybookers. IQ does not accept Paypal as a payment method.
The minimum withdrawal amount for IQ Option is $2. In order to make a withdrawal request, you will need to use the same payment method as your deposit because the transaction is processed as a refund. Afterwards, you can choose whichever payment method you want for withdrawals. Bank transfers may incur a small processing fee.
In order to withdrawal funds from IQOption, you’ll need to verify your identity. This verification process can take up to 3 days and is necessary to prevent fraudulent activity and to secure your account from unauthorized use.
All withdrawal requests are processed by IQ Option within 1 business day. If you request a withdraw to a bank card, it may require additional time depending on your bank.
Is IQ Option Safe?
Yes, IQ Option is safe. This company is one of the biggest and most successful binary option brokers in the industry with over 40,000,000 registered users. They are also licensed and regulated by the CySEC (Cyprus Securities and Exchange Commission) and the FSA (Seychelles Financial Services Authority). All client funds are held in segregated bank accounts for further security. IQ Option is also a member of the Investors Compensation Scheme, which protects client funds up to a maximum of $20,000.
Can You Really Make Money With IQ Option?
Yes, of course you can make money with IQ Option. In order to make a profit, you have to correctly predict an asset’s price movement by the time the trade contract expires. IQ Option offers short-term trades that allow you to make money within 60 seconds if you predict the market direction correctly. Binary options pay up to 95% profit, while digital options pay up to 900% profit.
Bonuses and Promotions
Due to regulations set forth by the CySec, IQOption.com doesn’t offer any type of deposit bonuses.
However, this broker does offer trading competitions that allow you to compete against other traders for prizes ranging from $100 all the way up to $100,000. Unfortunately, these trading tournaments aren’t available for citizens within the EEA. Standard accounts can join the competitions for a fee, while VIP accounts get free entry.
Countries and Languages
Countries NOT Accepted:
Unfortunately, IQ Option is not able to accept traders from the United States, Russia, Canada, Australia, France, Japan, Belgium, Turkey, Israel, Iran, Syria, and Sudan. The countries listed above have stricter restrictions and regulations, making it difficult for IQ Option to provide trading opportunities to their citizens.
Countries Accepted By IQ Option
IQOption accept traders from over 213 countries including Argentina, Bangladesh, Bolivia, Botswana, Brazil, Cambodia, China, Colombia, Egypt, Ghana, India, Indonesia, Iran, Ireland, Jamaica, Japan, Korea, Nigeria, Germany, Kenya, Malaysia, Maldives, Macedonia, Mexico, Morocco, Namibia, Netherlands, New Zealand, Pakistan, Philippines, Saudi Arabia, Serbia, Singapore, Somalia, South Africa, Sri Lanka, Switzerland, Tanzania, Thailand, Turkey, UAE, Uganda, Ukraine, United Kingdom, Vietnam, Zambia, and Zimbabwe.
IQ Option has various forms of customer support including email, telephone, and online chat. There are currently about 90 customer service support representatives available to assist you.
For your convenience, IQ Option has toll-free phone numbers available in the following countries: United Kingdom, Brazil, South Africa, India, Singapore, Thairland, Colombia, Australia, Mexico, Portugal, Spain, Argentina, and Chile.
For online chat support, the average wait time is an impressive 38 seconds. For email support, the average response time is 14 minutes.
Is IQ Option A Scam?
Absolutely not! As of 2020, this broker has over 41 million registered users from over 213 countries worldwide. The number of active traders is growing every year and there’s no signs of that changing. They also process more than 1 MILLION transactions per day.
IQ Option is a legit broker and one of the most reputable companies in the industry. Their intuitive trading platform is the best around and we highly recommend IQ Option to traders of all experience levels, beginner to advanced.
* CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. Between 74-89% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Robert Wolfe is the founder and chief editor of Impact Investing Collaborative. Robert is an expert trader with over 10 years of experience trading binary options, Forex, and CFDs. He prides himself in providing accurate and in-depth reviews in order to help others find a trading platform that fits their needs. When Robert isn’t actively trading or managing Impact Investing Collaborative, he enjoys spending time with his 3 kids, playing golf, and spending time outdoors.
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My name is Robert Wolfe and I’m an online trader with over 7 years of experience trading financial instruments such as binary options, CFDs, forex, and stocks. I created this website to share my knowledge of the industry so you can avoid the same mistakes I’ve made.
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