- Low minimum deposit requirement (£10)
- Offers a virtually funded demo account for testing it and gauging your skill level
- Wide array of trading assets, including forex, stocks, cryptocurrencies, commodities, and ETFs
- Reliable support service operating 24/7
- User-friendly platform with a modern design
- Social trading platform offered
- No copy trading
- Not available to US traders
IQ Option is one of the most popular trading platforms offering forex, stock, commodities, cryptocurrencies, and ETF assets to trade. The broker offers excellent features fit for both newbies and expert traders. You can try it out using its demo account, but first, let’s review IQ Option so you can fully understand what to expect and make the right decision.
IQ Option – Who Are They?
Founded in 2013 by Dmitry Zaretsky, IQ Option is an online trading platform offering a wide range of instruments to trade. IQ Option started as a binary options broker but has included other assets you can trade as CFDs and maximise your potential. You can access this broker via desktop or mobile devices for as little as £10.
This broker prides itself on registering over 50 million users across more than 213 countries globally. It has an award-winning proprietary platform that is user-friendly and has a modern design. With it, you can enjoy amazing research and skills development tools.
Additionally, IQ Option is a secured broker, meaning its platform is highly encrypted, and the broker is regulated by top-tier authorities, including the Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC), etc. Its trading charges are also low, thus attracting low-budget traders and individuals looking for numerous assets for portfolio diversification.
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Licenses and Security
IQ Option is one of the most trusted brokers globally since it is highly encrypted to secure your data and email. The broker has more than 50 million registered users across over 213 countries globally. In addition, it continues to receive excellent user testimonials on various platforms like Turstopilot, Google Play, and the App Store, proving its credibility even more.
When signing up for an account, the broker ensures that traders participate in the account verification procedures to keep fraudsters at bay. Plus, it owns multiple licenses across global regions and is regulated by world-recognised authorities, including Cyprus Securities and Exchange Commission (CySEC), Financial Conduct Authority (FCA), etc.
Assets Offered
If you are looking for a broker with a wide selection of trading assets, IQ Option is a considerable choice. You can choose from forex, stocks, commodities, cryptocurrencies, indices, and ETFs, all of which you get to trade as CFDs. Remember, the broker started as a binary options company but later included the above assets to attract all types of traders.
IQ Option Fees, Commission, and Spread
IQ Option is one of the low-cost CFD brokers fit for budget-conscious traders. The broker is also transparent with its fees, making it easier for you to understand its charges and budget accordingly. Keep in mind that there is no registration or account sign-up fee, and you only need to make a minimum deposit of £10 to access its listed assets.
Unfortunately, IQ Option charges inactivity fees, which you will incur should your trading account remain dormant for over 90 days. This means that you must be an active trader to fully benefit from IQ Option.
| Type | Fee |
|---|---|
| Minimum deposit | £10 |
| Deposit fee | $0 |
| Withdrawal fee | 2% |
| Overnight fee | 0.01% – 0.05% |
| Inactivity fee | €10 |
Deposit Methods and Supported Currencies
IQ Option supports multiple payment methods, allowing you to transact with the most convenient ones. Deposits are free, but you will incur withdrawal charges. Note that you can withdraw as little as £2, and there are no limitations on the maximum withdrawal amount. Here are the supported payment methods on IQ Option:
- Credit/debit cards
- Bank transfers
- E-wallets like Skrill, Neteller, Webmoney, etc.
Unlike other brokers, IQ Option allows you to make deposits using any currency, which will be converted to the currency you regularly use. Some of the popular fiats accepted by this broker include USD, EUR, GBP, JPY, CAD, AUD, etc.
Platform and Research Tools
IQ Option’ platform is user-friendly and has a modern design to maximise your experience. Trading resources such as stop-loss and order types are also offered adequately to help you easily manage your positions.
Unfortunately, learning and research materials are limited, unlike its peers that offer them in plenty. For instance, there is only a video tutorials section for newbies and a community platform for interacting with other users. Market analysis resources are also limited, but you can rely on its support service, which operates 24/7, for guidance and assistance.
How To Register an IQ Option Account
Registering for an account with IQ Option is easy, and it takes a few minutes to get it done and start trading. Below is a brief overview of the process. Simply ensure you provide accurate details and make the required deposit to access the broker’s asset collection. Also, confirm if the broker accepts clients from your region and understands its terms and conditions.
- Click on any of the links on this page for quick access to the IQ Option page and begin the account registration procedure.
- You will sign up using your phone number or email, then create a password.
- Once you complete step 2 above, you will be required to verify your identity and location. After this, you will receive a confirmation email to redirect you to the platform where you will log in using your email and password.
- Make the minimum deposit of £10 and be redirected to the broker’s platform to trade.
- At this point, you can test it out via its demo account loaded with £10,000 virtual funds before diving into the live market.
Editor’s note
We believe IQ Option is best for newbies and intermediate traders because of its user-friendly platform and availability of trading resources to help in skills development. Although expert traders can use it, it doesn’t host plenty of advanced resources for maximum experience. For instance, if you are looking for advanced platforms like MT4 and MT5, IQ Option might not be the best for you.
Overall, ensure you conduct additional research on this broker to ensure it meets all your trading needs before making a commitment. The best element about IQ Option is that it guarantees maximum security since tier one authorities regulate it. Additionally, IQ Option charges low fees, allowing low-budget traders to try their luck trading various markets. There is also a community platform you can take advantage of to socialise with fellow traders to learn new trading tricks and ideas.
FAQs
Absolutely. IQ Option has existed since 2013 and has over 50 million registered users — proof indicating that it helps traders earn profits from the financial market. With the broker, you get exposed to numerous assets for portfolio diversification and trading tools for research and managing your position.
IQ Option is a low-cost broker with a minimum deposit requirement of only £10. As a new trader, we advise you to stick to the minimum amount until you are confident with your trading skills. Remember, the financial market can be volatile, and while you may earn profits, losses are inevitable.
Depending on the payment method, it might take up to 3 days for IQ Option to process your withdrawal request. The broker allows you to transact using e-wallets, credit/debit cards, and bank transfers.
Yes. IQ Option allows you to trade forex as CFDs using your desktop or mobile device. Over 40 currency pairs are offered on IQ Options, giving you a huge trading asset selection and maximising your profitability.
No. Although creating an account with IQ Option is free, you must make a deposit of at least £10 to use it. Trading and withdrawal charges also apply depending on your trade size and withdrawal amount. There is also an inactivity fee should your account remain dormant for over three months.
Absolutely. You can trade Bitcoin and other altcoins as CFDs, including Ethereum, Binance Coin, Ripple, Cardano, Dogecoin, etc.
✔Desktop Windows / MacOs / Web / Mobile
IQ option is a great platform for getting started. I use it on my desktop and phone. Great customer service - they always answer fast. They offer I think all kinds of assets - it is great.
I am writing a review for the first time and it is not a joke. I have been investing with an IQ option for more than 2 years, I make lots of deposits/withdrawals of my funds, and I also speak with support and always my problems are solved. They are very responsive and polite for customer service. This is probably one of the best and fastest apps which i use so far.
For me the main thing was regulation. If something goes wrong I want to be sure that my back is covered and I can defend my right. This broker is very trusty. I haven't had any issues there.
Would you recommend this provider?
Fees
Account opening
Customer service
Deposit and withdrawal
Would you recommend this provider?
Fees
Customer service
Deposit and withdrawal