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IQ Option: Trading Platform Review & Opinions 2021

3.8 / 5
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Binary options are not available to retail EU traders. If you are not a professional trader, please leave this page

IQ Option (IQ Broker) was founded quite recently, but even in the few years of its operation, it has managed to develop into one of the biggest binary options brokerage companies in Europe. The main factor that has influenced such rapid growth is the combination of high-quality services and a democratic approach. IQ Option (IQ Broker) has made trading available to the masses, while, at the same time, the company has invested a lot into the quality of their platform, help and support service, and also offers a variety of trading tools. Within the EU is regulated by CySec (license number 247/14) and follows the norms of MiFID.

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1. IQ Option – a broker for everyone

One of the most modern and comfortable binary options trading platforms, which was developed by a group of leading traders, analysts, and IT specialists allows IQ Options to offer high level trading opportunities. The platform offers classical binary options in different asset categories (indices, currencies, stocks), as well as the now popular turbo options (60 seconds).

2. Advantages and disadvantages

CySec regulated: this broker is regulated by CySec, which guarantees that all services are provided following the EU regulations.

Convenient trading platform: it is the company’s own platform, which allows them to maintain and upgrade it, adapting it to the needs of the traders.

Low minimum deposit: one can start trading with a deposit of as little as $10 with a minimum bid of $1.

Demo accounts: this company offers each registered user an opportunity to develop their trading skills, test their strategies, and get used to the trading platform without having to pay a deposit.

Trader competitions: with the help of frequent tournaments, the company has managed to build their own trader community, where each trader is motivated to develop their trading skills and win some money. Such tournaments take place every week. There are both free tournaments, and tournaments where you need to pay a participant’s fee.

Relatively small educational library: video resources only cover the most basic principles, and so are insufficient for more advanced traders.

3. Trading conditions

IQ Option offers some of the best trading conditions as compared to other binary options brokers on the European market. The minimum deposit threshold is $10, while the minimum bid can be as low as $1. It also offers numerous ways of money depositing/withdrawal which includes a variety of payment systems.

Clients are offered two types of trading instruments, which can be differentiated by their expiration date. Classical binary options have their expiration dates varying between 15 and 60 minutes, while ‘turbo’ options will last between one and three minutes. Short term options will allow you to vary your trading strategy and also catch the moments of high volatility, profiting from short-term market fluctuations.

4. Underlying assets

IQ Option offers a choice of more than 500 assets, which include currency pairs, biggest international stock indices, stocks of individual companies, and precious metals. Such a wide selection covers most classes of financial assets and provides traders with an opportunity to select trading strategies to meet their personal preferences taking into account risk and profitability. We hope that in the future, the company will continue adding to the existing selections, as at the moment the number of assets is still slightly inferior to the selections offered by other large binary options brokers.

5. Trading platform

It is worth mentioning that unlike many other companies, IQ Option have invested into their own trading platform, which has been developed in-house to meet the needs of the company’s clients. This platform keeps gaining praise and receiving numerous awards for its highly user-friendly interface; among them, the “Most Innovative Binary Options Broker” prize from Show FX World and “Best Trading Platform” from Forex Award.

IQ options trading platform works equally well on PCs and mobile devices. Its interface is based on dynamic graphs, which show the development of asset prices in real time. One of the main differences between the IQ Option platform and those of most other binary brokers is the set of extra functions, such as zoom in/out on different parts of the chart, drawing lines, curves, and other figures on the graphs. The side panel on the left can be set up to display trading history, live leader boards, news feeds, or even educational materials.

6. Mobile Trading

IQ Option trading app for tablets and smartphones is definitely worth a mention. It allows you to stay ‘in the market’ even when you are not at work. This mobile platform is almost as functional as its full version, the only difference lies in the layout and the size of separate elements of the interface. This platform is available to Android and iOS users and is downloadable for free from Google Play and the App Store.

7. Demo account

A free demo account becomes available as soon as you have created your personal account and gives you access to a virtual case of $1000. It allows you to perform all types of trades that are available for users with real accounts. This allows traders to test their trading strategies and get used to the platform without having to deposit any money. It is worth noting that the company has recently introduced a possibility to top up demo accounts, which means that if you lose all the virtual money, you will be able to add more virtual money. In any case, it is advisable to test one’s strategies using very small sums of money ($1-5 per trade) to get the real flavour of the market as soon as possible.

8. VIP accounts

Traders that are familiar with binary options are offered to register the so-called VIP accounts (read more on the IQ Option site), which give access to such extra services as free access to regular updates on trading signals, a personal manager, and faster funds withdrawal (within 24 hours). VIP accounts are available with deposits of over $3000.

9. Opening an account

Any demo account can easily be turned into a real one by depositing some money. In this case the virtual sum on your account will disappear and your balance will equal your deposit. In order to open a real account, you need to click on the green button in the top right corner of the broker’s homepage, or by clicking on the same area in the top right corner of the demo account trading interface. The process consists of two stages – creating an account (skip if you already have a demo one) and depositing money. The first step can also be done using your Facebook, Google+, or Gmail accounts. Money can be deposited through a bank card (Visa, MasterCard) or through some of the most popular digital payment systems.

10. Funds withdrawal

Funds can be withdrawn in any of the ways indicated above for deposits. To initialise withdrawal, one needs to apply from the account area, providing one’s personal information and the preferred means of withdrawal. Applications usually take up to three working days to process; and during this time the company may request additional documents to secure the transaction. These may include a scan of an ID document, for instance. The status of your application can be traced in your personal space on your account.

11. Trader training

IQ Option focusses quite a lot on increasing the level of financial awareness and trading skills among their clients. One can find numerous interactive learning materials on their website. Apart from that, we’d like to mention a short training course that is aimed at helping one learn to use the trading platform. It can be accessed from the “Video tutorials” section of the “For traders” menu on the broker’s home page. The course consists of 9 chapters, demonstrating the principles of operation and the elements of the trading system of the broker.

12. Should I trade with IQ Option?

IQ Option is a ‘universal’ broker that has made trading convenient and accessible. The traders latter will appreciate the perks of the VIP accounts, as well as the sets of functions to help customize the graphs, as well as quite usable mobile applications. However, the slightly limited selection of core assets may also limit the choice of one’s trading strategy. Traders will gain the most from using this platform - the minimum deposit threshold is low, and there is a fully functional demo account (which is quite a rarity among binary options brokers), as well as a user-friendly and flexible platform with lots of learning materials.

Binary options are not available to retail EU traders. If you are not a professional trader, please leave this page

Reviews on IQ Option

Comments about IQ Option
( 47 )
User rating: 4.7 / 5

Comments: 47

  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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IQ Option: Trading Platform Review & Opinions 2021

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