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IQ Option: Review and Opinions of Traders 2024

3.8 / 5
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CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 83% 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.

IQ Option (IQ Broker) has become a prominent online trading broker in the Eurozone. The core strength of this company is its services and high-quality trading platform. Since its formation, this broker has invested a lot in platforms and support services to ensure its maximum quality. IQ Option is regulated by CySec (Cyprus Security Exchanges and Commission) with license number 247/14.

This detailed review will cover answers of the following questions:

  • Is IQ Option regulated and safe for investors?
  • Does it provide copy trading services and learning materials?
  • What is the minimum deposit you should make to start trading?
  • Is it flexible in making deposits and withdrawals?

Let’s dive in!

IQ Option – people’s broker

A group of financial enthusiasts built IQ Option as user-friendly and sophisticated online trading platforms. Behind this platform, there is a group of analysts, traders and IT experts to deliver a high-quality trading environment with maximum transparency. You can access a wide range of trading assets, including currency pairs, ETF.

Advantages and disadvantages

Sophisticated trading platform: IQ Options has its proprietary trading platform with many features and trading tools to meet all traders’ expectations from this platform.
Low minimum deposit: If you want to start trading with trading instruments, you can easily start with this broker with only a €50 deposit against the minimum $1 investment.
Demo accounts: Demo accounts allowed traders to test their skills and strategies before moving with real money. IQ Option offers a free demo trading account without any deposit.
Less Educational Resource: IQ Option has some video resources that can cover the basic knowledge about financial trading, which is not sufficient for a trader. Advanced traders require some deep understanding of the market, which is not available here.

Trading conditions

The trading condition is a valuable parameter that a trader should consider while investing money in a broker. In terms of trading conditions, IQ Option has a strong position compared to its EU competitors. It allows trading with a minimum deposit of €20, where traders can invest as low as $1. Moreover, there are several ways of making deposits and withdrawals through a variety of trading payment gateways.

Availability of assets

Traders can access more than 300 trading assets through the IQ Option platform, including currency pairs, ETF, individual company stocks and precious metals. The wide range of trading assets covers traders requirements of all instruments in a single platform. As a result, portfolio diversification from this platform is highly achievable. Moreover, any addition of new instruments would make this broker more potent among investors.

Trading platform

IQ Option has its own trading platform that reflects what traders require from online trading brokers. It is worth mentioning that IQ Option invested a lot in building a user-friendly trading platform to meet all traders requirements. As a result, traders can easily differentiate the effectiveness of this platform from other brokers.

IQ Option trading platform has the maximum level of flexibility as it is easily accessible from both mobile and PCs. Traders can see the real-time chart with dynamic graphs where trading tools are available on the left section. The trading tool includes chart types, technical indicators, drawing tools, news feed and educational material. Moreover, the buying and selling option is integrated with the live chart on the right section, allowing traders to make quick trading decisions.

Mobile Trading

IQ Options trading app is available on most tablets and smartphones. Therefore, traders can alter or take new trades even if they are not in front of the PC. The mobile platform has most of the desktop version features except the layout and size of some elements. IQ Option trading platforms are available for both Android and iOS users, and it is free to download from Google Play Store and the App Store. After installing the platform, you can access with the unique User ID and password and you can perform all of your trading and account related activities from the mobile platform.

Demo account

Demo trading in IQ Option is free where you don’t have to deposit any money. You can access the demo account just by Signing up in this broker using your information. The demo trading platform is completely similar to the real trading platforms where you can test your skills or develop strategies with the virtual $10000, except from the withdrawal of funds. Moreover, this company introduced add money features in the demo account where you can add more virtual money if you lose it all.

Opening an account

Opening a real account is straightforward in the IQ Option, where you have to click on the Sign Up option from the top and right corner of the website. After that, you have to complete a form by providing information about yourself. You can use your social media channels to open a real account. IQ Options allows signing up from Facebook, Google+ and Gmail accounts. Moreover, if you have a demo account with this broker, you can easily transfer it to the real account. After opening the account, you can easily deposit any amount from €50 using your Credit Card or other digital payment methods.

Funds withdrawal

Funds withdrawal is available on any payment method available for a deposit. You should access the account area and provide details about the method and amount to process the withdrawal. The ideal time for processing a withdrawal is three working days, and it may ask for any documents to make the process secured. Therefore, you might have to submit your Identity verification documents like Government-issued ID cards, Driving Licenses or passports for instance. After opening the withdrawal request, you can see the process at any time from your personal space on your account.

Trader training

There is no alternative to having a strong knowledge about trading in the financial market. Therefore, IQ Option focuses on making their clients educated and increasing their financial awareness by providing many learning materials on their website. Besides, this broker’s most effective training course is the “Video tutorials” available on the “For traders” menu at the broker’s homepage. This tutorial includes nine chapters that focus on the principles of operation and materials of the broker’.

Should I trade with IQ Option?

IQ Option is a ‘universal’ broker that is easily accessible and convenient for traders. The specialised trading platform, trading tools and accessibility from multiple devices make this broker effective in trading. On the other hand, the minimum deposit requirement is low, with an opportunity of accessing the fully functional demo account, which is rare on most of the online trading brokers. Besides, the availability of learning materials and sophisticated trading platform made this broker attractive to investors.

Reviews on IQ Option

Comments about IQ Option
( 52 )
User rating: 4.7 / 5

Comments: 52

  1. avatar

    the platform looks cool has anyone here tried it?

  2. avatar

    How long does it take to process te withdrawals? Someone had any problems during the withdrawal process? Thanks!

    • avatar

      for me it’s usually a week or so

    • avatar
      Alex / IQ Option

      Hello, sigma,
      we process withdrawal requests within 3 business days, after that the requests are handed over to the chosen payments processor, which takes another 2-7 business days to finalize the transaction depending on the processor; bank wires typically take the longest time to process.
      Alex / IQ Option

    • avatar
      Nisbert Mungazi

      There working days and within 24 hrs on VIP accounts.

  3. avatar

    I see their ads all the time lately, have they been expanding

  4. avatar
    Kyle F.

    hello! I’m considering trying out iqoption, one thing I don’t understand though – if the price of the asset is higher or lower than the initial price when an option contract expires, things are quite clear; but what happens if, by some coincidence, an option expires with exactly the same price as it started with? Does it still could as a positive outcome?

    • avatar

      they will return the initial trade amount to your account and that’s it

      • avatar
        Kyle F.

        thx! just had one case myself last week 🙂

  5. avatar
    trader sapiens

    nice trading platform, one thing that would be nice to add is sound alerts, I trade many currencies at once using technical indicators and it’d be so much more convenient if the system played a sound when a condition is triggered rather than having to flip through all the tabs 🙂

  6. avatar

    Can I withdraw to an American Express card??

    • avatar
      Alex / IQ Option

      Hello ok,
      at the moment we do not accept payments or withdrawals using American Express cards.
      Alex / IQ Option

  7. avatar

    …I see they’ve completely updated their mobile platform, this is so important for those who prefer faster trading such as turbo opcions

  8. avatar

    lost my entire deposit on price jumps after forex news can anyone tell me how to avoid this?!

    • avatar
      Roberto Baggio

      stop trading currencies and start trading stock indexes instead if you can’t handle the volatility 😉

  9. avatar

    I’ve started trading on IQ in 2015 when the trading platform was still two versions ago –
    must say the newest one is light-years better compared to the crap they had back then

  10. avatar


    • avatar
      Alex / IQ Option

      Hello Becky, we accept traders from all countries except the following: United States, Australia, Canada, Russia, Belguim, Japan, Turkey, Israel, Syria, Sudan, and Iran. Please note that these restrictions may change in the future.
      Alex / IQ Option

  11. avatar
    agent Smith

    training on the demo, lost virtual $ 800 so far 🙁

  12. avatar

    I’ve been experiencing significant delays on my trading platform lately, can anyone tell me WHY that may happen???

  13. avatar
    Winner Joe

    I heard they are planning to release the 4.0 version of the trading platform, is that so? When can we try it?

    • avatar

      It’s been around for a couple of months already 🙂

  14. avatar

    An average brokerage company, not the worst but also not the best one; you can trade small amounts there, but I’d not recommend it for those who are seriously looking for high-volume trades.

  15. avatar

    hello can anyone teach me how to trade i’ve been trying for three days lost my deposit of 10$ and now too afraid to go back in…

  16. avatar

    Any cases of hacked accounts?

    • avatar

      ..also worried about security, they use the https protocol and some other precautions, but is that enough.. do they offer compensation in case of theft?

    • avatar

      if they are regulated by CySEC and MIFID they ought to have deposit protection I suppose

  17. avatar

    can someone tell me what ahppens if I buy a binary option and it expires on exactly the same price as the initial purchase price – does it get cancelled??

  18. avatar

    do i need to show them any additional documents to withdraw money?

    • avatar
      super duper

      I guess it depends on the withdrawal method, they asked me to send a copy of my ID and a photo of a utility bill, but only once, when I was withdrawing funds to a bank account. In other cases there were no such requests; maybe they need it only once

  19. avatar

    Which books should I read to trade with profits? any recommendations?

    • avatar

      dont read books, everything changes too fast on financial markets
      go to live forums instead and read what real traders say
      talk to them and ask their opinion on your strategy, you will learn much more from people than from paper

  20. avatar

    this is a test only a test

  21. avatar

    if you decide to try your luck in this circus called binary options – don’t say later that I didn’t warn you

  22. avatar
    Anna L.

    I am still too nervous to try this. I have read so many articles about online trading but once I see the button to deposit my real money I panic. I know that there are real people who make their living from trading in stocks and currencies, but how do I overcome this anxiety??

  23. avatar

    so many ways to trade, so little time..

  24. avatar

    I am testing my trading strategy on a demo account on IQ Option. The question: is the real account exactly the same as the demo? How do I know my strategy will also work there

    • avatar
      Alex / IQ Option

      Hi bid/ask,
      the demo account is identical to the real account – the quotes are taken from the same source and the available instruments are exactly the same.
      Best Regards,
      Alex / IQ Option

  25. avatar

    how much is it possible to earn on iqoption?

    • avatar

      depends on how much time you are ready to spend learning and practicing..

  26. avatar

    IQ is so much better than 24option! just sayin..

    • avatar

      you, my dear sir, are a troll 🙂

  27. avatar

    I love this broker. The only problem is if my net is slow it’s very tough to execute trades. Maybe they need fast servers in Asia.

  28. avatar
    Ramona Javelona

    what reliable banks or digital payment services to sent your initial investment (to begin with a real account)

    • avatar
      Anna IQ Option

      Hello, Ramona!

      Thank you for your question!
      Let us tell you that we accept deposits made through Visa/MasterCard/Maestro and e-wallets like Skrill, Neteller, and WebMoney. Those are our trusted partners we are working with for many years already. We also have some additional payment methods which can be applied in particular countries.
      You are also welcome to contact our support to find out the methods available in your country.
      You can reach us by hotline, email or chats (if you have an account with us). Here is the link you may use:

      Thank you for your consideration!

  29. avatar

    Please which of the Nigerian cards works better for deposit on IQ, visa or master ??

    • avatar
      Zukhra IQ Option Team

      Honestly, there is no any difference. Mostly, our traders from Africa use e-wallets, as you can withdraw your deposit + profit in 1 request and the process is much faster.

      Please, don’t hesitate to contact our support to get a certain help on any question! [email protected]

      Have a wonderful day and great deals!
      Zukhra IQ Option Team

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  31. avatar
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  32. avatar

    I invested over $250k trading online and all access to make withdrawals of my funds was denied, I got in contact with the customers support but didn’t get a reasonable response from them, all my funds including my profit was stuck on the platform. I was so sad being frustrated over things, until I was advised to contact gavin ray a well known recovery specialist by a friend of mine who has also encounter withdraw issues solved by Gavin , I texted him and presented all legal documents and following all procedures he instructed and he successfully initiated the withdrawal confirming the payment into my bank account, i recommend his services to anyone you can contact him on email gavinray78 gmail com or WhatsApp ‪+‪1 (352) 322‑2096‬.


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  34. avatar
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