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IQ Option Review

IQ Option
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Overview

IQ Option remains one of the most popular and fastest growing binary option brokers with traders throughout the world. Started in 2013 and headquartered in Limassol, Cyprus it’s website and… more

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Details

Broker IQ Option
Website URL www.iqoption.com
Founded 2013
Headquarters Limassol, Cyprus
Languages English, German, French, Italian, Spanish, Portuguese, Russian, Turkish, Chinese, Korean, Indonesian
Minimum 1st Deposit $10
Minimum Trade Amount $1
Maximum Trade Amount $5000
Bonus Deposit BONUS for new traders!
Payout 180-190%
Free Demo Account Yes
Regulated Yes
Regulation Cyprus Securities and Exchange Commission (CySec), Cyprus
Deposit Methods Visa, Mastercard, Bank Wire, Neteller, Skrill, Webmoney, Fasapay
Withdrawal Methods Visa, Mastercard, Bank Wire, Neteller, Skrill, Webmoney, Fasapay
Number of Assets 70+
Expiry Times 60 sec, 2 min, 15 min, 30 min, 1 hour
Types of Assets Currencies, Commodities, Stock Indices, Single Stocks
Option Types High/Low, Turbo
Trading Currency USD, EUR, GBP, IDR, MYR
Account Currency USD, EUR, GBP, IDR, MYR
US Traders Allowed No
Mobile Trading Yes
Tablet Trading Yes
Overall Score 86/100

Screenshots

Screenshot 1 Screenshot 2

Pros

  • Advanced platform and charting
  • CySec Regulated
  • Available in multiple languages
  • Low initial deposit amount

Cons

  • Trading platform stability
  • Variable payouts in volatile markets
  • Limited number of commodities for a large broker

Full Review

IQ Option remains one of the most popular and fastest growing binary option brokers with traders throughout the world. Started in 2013 and headquartered in Limassol, Cyprus it’s website and trading platform is one of the most advanced on the market and is available in various languages.

Website and Trading Platform – 17/20

Their platform is fairly sophisticated and does take awhile to get used to, especially for new traders. The software was built from scratch by IQ option and has some of the best charting functionality and technical analysis tools built in. Still, most serious traders will require a separate charting package (we use TradingView ourselves, it’s free to signup!)

IQ Option trading platformIQ Option Web Platform

Overall we have found the web platform to be fast but we did experience the platform freezing momentarily on a couple occasions. While this did not affect our trading we do notice that this has become a common complaint for some users on the internet.

IQ Option Mobile App

The mobile app which is available on iPhone and Android is also one of the most impressive we have seen on the market and includes most of the functionality from the main web platform. It’s simple to change between assets, option expiries and investment size from the single panel.

Assets, Payouts and Expiry Times – 15/20

IQ Option has a reasonable number of tradable assets at 75, including currencies, commodities, stock indices and single stocks. Approximately half of this 75 is made up of individual US stocks which are only available during US market hours and will be of limited interest to most traders in Asia.

They offer the standard High/Low and short term “Turbo” binary options and also trading during the weekends on a certain number of assets. Their Turbo options have expiries of 60 seconds and the regular High/Low options of up to 1 hour.

The payouts offered are some of the highest on the market and range from approximately 180-190%. However, we do note that the payout percentages do change in volatile markets.

Deposit, Payment Methods and Bonus – 19/20

IQ Option offers the usual payment methods, credit cards, international wire transfer and payment providers such as Neteller, Skrill and FasaPay. They do offer deposits and trading in a variety of currencies including Malaysian Ringgit (MYR) and Indonesian Rupiah (IDR), however traders will have to use a payment processor like FasaPay to make the transaction.

IQ Option bonus conditionsIQ Option bonus conditions

Deposit bonuses of up to 100% are offered but you will be required to trade 25x the bonus you receive to be able to withdraw it. While still a rather difficult requirement to meet, the trading volume requirement is much lower than many other brokers.

Licensing and Regulation – 17/20

Traders can be fairly confident doing business with IQ Option as they are regulated by the Cyprus government regulator CySec. While in our opinion, CySec is not as strict or rigorous compared to the FCA (UK) or ASIC (Australia), they have in recent years been more closely monitoring the activities of binary option brokers.

IQ Option’s “Know Your Customer” (KYC) requirements are fairly strict and we highlight that that the name of the trading account must exactly match the trader’s identification documents and the account (bank, Neteller, Fasapay) from where the funds are being sent to and from.

Due to these protections, we can recommend IQ Option for large traders and those wishing to make a larger sized deposits.

Customer Service – 18/20

Their support options are fairly standard and include email, phone and an online ticketing system. They have phone numbers for countries throughout the world and offer support 24 hours a day, 7 days a week.

Summary

It is clear that IQ Option are one of the leaders in the binary options industry and the choice for millions of traders from around the world. They offer some of the most advanced web and mobile trading platforms available and coupled with a wide range of assets and government oversight makes them one of our top rated brokers.

IQ Option overall score = 86/100

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6 Responses to “IQ Option Review”

  1. Are there limits with withdrawing to Visa cards? With a lot of the brokers you can’t take out more than you put in. Thanks

    1. Hi Thomas,
      Yes, with Visa and other credit cards your maximum withdrawal is limited to the amount you have deposited already via the card.

    1. Hi Malik,
      Too difficult to say. Opinion on CySec and how strict they are as a regulator is split among the BinaryScore team. Some of us will only deal with ASIC or FCA regulated brokers, others think CySec’s credibility has improved in recent years.

    1. Yes we agree George! Bonus trading requirements is one aspect we don’t like in the binary options industry. We scored HighLow the highest for bonuses because it’s simple and transparent – receive $50, trade $50 and it’s yours. 1x vs. 25x or 50x with the other brokers

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