IQ Options
IQ Option
Rating: 94%
Min Deposit
$ 10
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IQ Option Forex Broker – Excellent Trading App with Easy and Fast Login Process

IQ Option forex is a CFD broker owned and managed by IQ Options Limited. The firm was founded in 2013 and operates out of St. Vincent and the Grenadines, with its European office in Cyprus. The forex and CFD broker is quite popular in the European Economic Area (EEA) and other parts of the world for its proprietary trading platform and website, which is available in sixteen languages, making it one of the most accessible online forex brokers in the market.

In addition to some of the standard asset classes, the broker offers trading facilities in binary options and its exclusive one-minute digital options in forex. Regarding order entries, the broker has a host of order types like one-click order placement, trailing stops, take profit, auto exit, and many more. According to the website, the forex broker has over 48 million registered users as of 2023.

  • One of the fast-growing platforms with over 48 million registered users
  • Innovative and user-friendly proprietary platform
  • Broker provides access to historical quotes, tutorials, stock collections and tournaments to help traders improve their skills
  • 24/7 multilingual customer service
  • Low minimum deposit
  • Free and unlimited demo accounts

IQ Option Summary

In our IQ Option review of the CFD broker, we cover more than fifteen different variables, from how to open an account with IQ Option to the quality of customer support. We have carried out an in-depth analysis of the broker, including the steps to set up a client demo account with IQ Option, quality of products and services offered, client privacy, data protection, and, most importantly, the regulators and the security of clients’ funds.

Our unbiased review of the broker will throw up many pros and cons, some of which could surprise traders and prospective clients.

Overview of IQ Option broker

IQ Option is a popular online broker, more for the trading platform, features, and products offered than for anything else. The broker currently operates out of St. Vincent and the Grenadines and its European office is in Nicosia, Cyprus. IQ Option offers close to 300 CFDs with different spreads and leverage. Phone support is open 24/7 in thirteen different languages across Asia, Europe, and North America.

Platforms
Platforms

The broker provides all clients with the proprietary IQ Option platform and a host of trading features. Forex trading on IQ Option could be a delight, with the broker permitting clients to hedge trades, even as they offer the slightly extended version of trading in binary options.

Privacy and Protection
Privacy and Protection

In our coverage of the regulation governing IQ Options, we are bound to surprise investors who still believe the broker to come under the rules of the Cyprus Securities and Exchange Commission CySEC.

IQ Option follows most other FX brokers’ standard client privacy and data protection policies. When it comes to the safety of funds, client deposits are in segregated accounts, separate from the company’s operational accounts.

Spreads/Fees
Spreads/Fees

IQ Option does not charge commissions except when client withdrawals exceed 3 in a calendar month. The spreads billed as a percentage of the underlying price are definitely on the higher side, while there are quite a few additional fees.

Mobile
Mobile

The IQ Option app for mobile devices is extremely classy, retaining most of the features accessible on the web and desktop versions. However, there are a couple of drawbacks as well, which we have highlighted in our review.

Customer Care
Customer Care

The customer care channels offered by IQ Option include 24/7 live chat, phone, and email support. While the broker boasts of a quick response in its live support, our review of the broker’s client helpdesk points to a very different picture.

Regulation and Investor Protection

Regarding regulation, if you happen to read the online IQ Option broker reviews, you will find almost all of them stating that IQ Option Europe Limited continues to be governed by CySEC. While the FX broker was under the stringent rule of CySEC from 2014 with license number #247/14, that’s not the case at the moment.

When we dug deeper, we found that the forex broker falls under St. Vincent and the Grenadines legislation, which does not regulate or issue licenses for firms conducting forex and cryptocurrency trading.

One of the reasons for IQ Option moving out of the CySEC regulations could be the hefty fines it paid from time to time for violating guidelines set by the regulator. In 2019, the forex broker paid a substantial €450,000 penalty for breaching its conflict-of-interest safeguards, non-maintenance policies, controls, and insufficient recordkeeping. Earlier, too, in 2016 and 2018, the company paid a fine of €180,000 separately for each year for misrepresenting the nature of risks on some of its investment services, not maintaining sufficient employees, acting in an unfair and unprofessional way in relation to IQ Option bonus deposit terms and conditions, etc.

So, if you wish to open your trading account with IQ Option, be clear that when it comes to investor protection, it is almost non-existent due to the lack of regulation. If the broker blocks your account or refuses to let you withdraw funds, you can do nothing. Likewise, if IQ Option folds, you might as well bid goodbye to your money.

IQ Options
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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Tradable Assets and Products Available at IQ Option Forex

The IQ Option forex broker has over 300 products across 6 asset classes, excluding binary and digital options. We have tabled the break-up of the various asset classes below, along with our IQ Option forex trading review.

Tradable Assets

Asset class Number of instruments
Forex 57
CFD in stocks 183
Cryptocurrencies 26
Commodities 09
Indices 12
ETFs 22

If you are a forex trader, the forex trading instruments at IQ Option comprise a range of major, minor, cross, and exotic currency pairs. However, unlike other FX brokers with an extensive range of exotic currencies, IQ Option has limited the exotic pairs to the Mexican peso and the Thai baht.

IQ Option has a wide variety of US and European listed stocks for CFD traders, numbering more than 170. On the trading terminal, you can sort the stocks on popularity based on the spread charged, trading multiple, and percentage change for the session or by simply searching for the stock by name or ticker.

Cryptocurrency enthusiasts can trade on a wide array of crypto products that include all the popular digital currencies like Bitcoin, Ripple, Ethereum, etc., in addition to Bitcoin Cash/SV, Zcash, Dash, and many, many more. Just like in stocks, you can trade in cryptocurrencies depending on their popularity, spread charged, leverage, and percentage change for the session or by simply searching for the crypto by name or ticker.

Our IQ Option Bitcoin review showed that the broker was offering 4 different varieties of crypto with Bitcoin Cash available in multiples of 5 and twenty and was trading at a spread of about a US dollar.

In commodities CFDs, IQ Option has ten products to offer: gold, silver, platinum, WTI, corn, soybean, copper, wheat, natural gas, and Brent crude.

Our review of the broker threw up many ETF funds that track a wide range of sectors, mostly operating in the US. Further, IQ Option has also included ETFs of all the major US stock indices, the iShares 20+ year US treasury bond, the iShares MSCI Japan/Mexico ETF, and the iShares China large-cap ETF that tracks the FTSE-China 50 index.

Lastly, IQ Option provides trading facilities in binary options along with its proprietary digital options in seventy-six financial products. If you are trading in binary options, the trading instruments range from forex to stock CFDs to gold. Additionally, the contact expiry can be anywhere from a minute to the end of the month, giving short-term and swing traders additional leverage to hold on to their positions. However, regarding digital options, the broker permits trading only in forex, with 3 time frames: 1 minute, 5 minutes, and fifteen minutes. Traders using this part of the market segment can exercise their option only in the permissible twenty-seven out of fifty-seven FX pairs.

Pros

  • The broker has several products, especially in the stock and cryptocurrency CFD space.

Cons

  • The IQ Option broker could have added a few more instruments like cryptocurrencies in its binary options offering.
  • The broker could have included plain vanilla options instead of binary or digital options.
IQ Options
IQ Option Ltd established the platform in 2003, and it quickly became one of the most popular online trading platforms. The platform had over 20 million accounts worldwide.
IQ Option Broker – Trade Stocks, Forex, Options and Crypto

Spread, Fees, and Commissions Charged by IQ Option

If you are wondering how to trade forex using IQ Option and what the corresponding cost would be, you might be surprised that the broker does not directly mention the standard spread in absolute or pip terms, which is a feature of a majority of FX brokers. Instead, the spread offered by IQ Option is a percentage of the ongoing price of the underlying financial instrument.

For instance – If the EURUSD is trading at 1.07208 and the spread is 0.007%, your trading cost for a standard lot size of €100,000 would amount to $7.54. Likewise, the spread varies with the other asset classes.

We have tabled the spread charged for some of the popular products in forex, stock CFDs, cryptocurrencies, and options. You can either view the complete list on the trading terminal or find them on the website.

Forex – Major, Minor, Cross, and Exotic Currencies

FX pair Spread in percentage
EURUSD 0.007
GBPUSD 0.008
USDJPY 0.008
EURGBP 0.015
USDNOK 0.053
USDMXN 0.041
AUDDKK 0.139
CADJPY 0.005

Stock CFDs of Listed Companies Trading across the European and US Exchanges

Stock Spread in percentage
Apple 0.713
Meta Platforms, Inc 0.713
Amazon 0.743
Adidas 0.044
Alphabet Inc. 0.753
Microsoft 0.713
Tesla 0.753

Cryptocurrencies

Crypto Spread in percentage
Bitcoin 0.300
Ethereum 1.512
Bitcoin Cash 2.074
Cosmos 2.548
Litecoin 1.026

Metals and Oil

Commodities Spread in percentage
Gold 0.030
Silver 0.048
WTI crude 0.050
Brent crude 0.51

Exchange-Traded Funds

ETF Spread in percentage
UltraPro Short QQQ 0.206
SPDR Dow Jones Industrial Average ETF 0.112
S&P 500 ETF 0.022
MSCI Mexico ETF 0.330
MSCI Japan ETF 0.046

Fees Charged by IQ Option Broker

The broker’s fee structure comes in 2 categories:

  • Standard costs, which are mostly related to your account:
    • A dormant fee of €10 if your account is inactive for ninety consecutive calendar days.
    • An account closure fee of up to €5 or a currency equivalent if the balance in your account is below €5 at the time you close the trading account.
    • A withdrawal fee of $31 or a currency equivalent for each withdrawal by bank transfer. There is an additional 2% withdrawal fee for the currencies listed below, which will come into effect only if the client initiates more than 3 withdrawals in a month.
  • Spread and fees on overnight positions:
    • There is a swap fee in addition to the spread for CFDs in forex, stocks, commodities, ETFs, and indices. The swaps vary from 0.01-0.5% and can go as high as 1.7% of the face value for clients holding overnight positions.
      For cryptocurrencies, the broker could charge a separate maintenance fee in addition to the spread and the swap fee.
    • In the case of binary and digital options, there are no spreads, and the broker does not charge clients to hold overnight positions.

Regarding commissions, the IQ Option forex trading strategy is that a broker does not charge a brokerage directly on any asset classes. However, clients are required to pay a maintenance fee for cryptocurrency positions. If you want to cut down the commission cost, you can use the Open Trading Network (OTN) tokens offered by the broker.

Account Types and Steps of Registration

How to start IQ Option? The following section will answer this question. The account opening process at IQ Option is a little different compared to other forex brokers. You can open a demo account with IQ Option and convert it into a LIVE trading account at the click of a button.

Pros

  • The KYC comprises only the essential info, making it a quick and direct account opening process.
  • IQ Option does not compel you to mention your financial and trading experience when filling out the LIVE account opening form, a primary requirement by most renowned FX brokers.

Cons

  • For some reason, the email verification does not function despite trying to validate it multiple times.
  • Account opening charges for the VIP account are pretty steep.

IQ Option Account Types

IQ Option has 4 types of accounts, all of which can be accessed online or through the IQ Option app. The first is an IQ Option demo account, also called the Training account, while the rest are LIVE trading accounts. Once you set up the demo account, you can use the virtual $10,000 to practice the various trading instruments at your disposal. Some features, like the LIVE interaction with fellow traders, will only be permitted if you open a client account or convert your existing IQ Option demo to a client account.

Also, on switching over from the demo to the client IQ Option open account, you are required to complete a few KYC procedures, like verifying your registered email and phone, in addition to providing your personal information.

  • Real Account – Clients can trade in more than seventy instruments from this account. These account holders can use the live chat feature and participate in weekly tournaments. The chat team, however, is not very responsive, with a response time that can stretch to hours. Withdrawal requests are generally processed within twenty-four hours, although it could take more than a week for the funds to be credited to your bank account.

You can open a Real account with a minimum deposit of only $10.

  • VIP Account – After the IQ Option login, VIP account holders are eligible for certain privileges not accessible to Real and Training account holders. Traders can access more than 100 products across asset classes. Profitability rates are higher in VIP accounts with access to a personal manager. The personal manager is accessible 24/7 and also acts as an analyst.

The VIP account is for those who deposit more than €1900 or another currency equivalent within 2 days.

  • Islamic Account – Anyone following the Islamic faith can set up an Islamic account with IQ Option. Islamic account holders can now trade without paying interest for holding overnight positions. However, IQ Option charges swaps for overnight positions if you are trading in leveraged CFDs.

The account opening steps for the IQ Option demo account are detailed below:

Step 1:

Verify your email address by entering the email confirmation code.

IQ Option signup procedure 1
Step 2:

Complete the phone verification process by confirming the code sent to your mobile.

IQ Option signup procedure 2
Step 3:

The final step involves providing your personal information.

IQ Option signup procedure 3
Step 4:

Deposit funds, and you’re ready to start trading.

IQ Option signup procedure 4
IQ Options
CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 72% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Go To Website

IQ Option Deposit and Withdrawal Methods

IQ Option broker accepts deposits in US dollars, euros, pounds sterling, and Russian rubles. While the broker does not charge for deposits, only 1 withdrawal per month is free of charge. Any withdrawals after that will come with a commission of 2%, but it cannot exceed $25. Clients can withdraw a minimum of $2 and a maximum of $1,000,000.

For clients looking for information on how to deposit in IQ Option, we have illustrated them in the following tables with the cost, if any. We have also attached a screenshot of all the fund deposit and withdrawal methods at IQ Option.

Deposit Methods

IQ Option deposit methods Currencies Minimum deposit Approx processing time
SKRILL USD, EUR, GBP, RUB $10, €10, £10, 650 RUB Instant
NETELLER USD, EUR, GBP, RUB $10, €10, £10, 650 RUB Instant
PayPal USD, EUR, GBP, RUB $10, €10, £10, 650 RUB Instant
Wire Transfer USD, EUR, GBP, RUB $10, €10, £10, 650 RUB 3 – 5 business days

Withdrawal Methods

IQ Option withdrawal methods Currencies Minimum withdrawal Approx processing time Commission
VISA/MASTERCARD USD, EUR, GBP, RUB $2, €2, £2, 60 RUB 1-24 hours EUR- 2%, max €30
GBP- 2%, max £25
USD- 2%, max $30
RUB, 2%, max 1500
SKRILL USD, EUR, GBP, RUB $2, €2, £2, 60 RUB 1-3 business days EUR- 2%, max €30
GBP- 2%, max £25
USD- 2%, max $30
RUB, 2%, max 1500
NETELLER USD, EUR, GBP, RUB $10, €11, £10, 60 RUB 1-3 business days EUR- 2%, max €30
GBP- 2%, max £25
USD- 2%, max $30
RUB, 2%, max 1500
PayPal USD, EUR, GBP, RUB $2, €2, £2, 60 RUB 1-3 business days EUR- 2%, max €30
GBP- 2%, max £25
USD- 2%, max $30
RUB, 2%, max 1500

Pros

  • All deposits are credited to the trading account immediately. So, clients can deposit funds and start trading instantly.
  • The minimum deposit is affordable, even by small clients.

Cons

  • Any withdrawal request that takes more than a day to process is considered extremely slow.

Privacy, Data Security, and Capital Protection

According to IQ Option, the firm maintains confidentiality of clients’ personal details, including identity, contact, and financial information, according to lawfulness, transparency, confidentiality, and accountability principles.

The brokerage firm’s security policy states that it collects and processes your personal data for the following reasons:

  • To perform its legal contract with you.
  • To comply with legal obligations, including anti-money laundering, terrorist financing laws, and regulations.
  • To safeguard its legitimate interests.
  • To process and deliver transactions like deposits and withdrawal requests.
  • To manage payments, fees, and charges.
  • To collect and recover money it is owed.

While client data is shared with regulators, state authorities, and service providers, the broker is also likely to disclose your data with the following group companies and third-party service providers:

  • Amazon Web Services, Inc.
  • Cloudflare, Inc.
  • Google LLC.
  • Facebook, Inc.
  • Stripe, Inc.

When it comes to capital protection, IQ Option claims to maintain client funds in segregated accounts. It is a member of the Investor Compensation Fund, which was established specifically to protect customers and secure customer claims when brokers are unable to meet their financial obligations. Further, the broker assures clients that their money will be safeguarded from falling into a negative balance.

IQ Option Broker’s Proprietary Platforms for Desktop, Web, and Mobile

Instead of the traditional approach of offering multiple platforms across asset classes, the broker provides its proprietary IQ Option broker online trading platform, which is accessible across the web, desktop, and mobile applications. The state-of-the-art trading platforms not only cover a broad range of assets from forex to cryptocurrencies and ETFs but also include CFDs, binary, and digital options.

We tested all the trading terminals offered by the broker from the demo account and found them brilliant.

Key Features of the Online Trading Platform and the Mobile App

The online trading platform offered by the IQ Option broker forex is an absolute delight for traders. The web platform comes loaded with charts across multiple time frames, news from various sources, a global economic calendar, market analysis, video tutorials, live chat connected to the support desk, and trading alerts. Furthermore, you can trade in fifty-seven forex pairs, 183 stock CFDs, twenty-six cryptocurrencies, forty-five binary, and eighteen digital options contracts; a new offering by the forex broker; and 9 commodities including precious metals like gold, silver, platinum, and crude, along with twenty-two ETFs covering all the major markets.

The platform also provides the opportunity for traders to test their skills with their counterparts by participating in the free and paid tournaments that are occasionally organized by the broker.

The IQ Option broker’s desktop trading platform is a replica of the web version with identical features and trading tools. You might find it hard to distinguish which one you’re using since both platforms have identical displays, similar asset classes, and the same trading tools. You can also select the fund allocation for every instrument you trade and the multiplier with the option to auto-close your trades based on your profit/loss criteria or whenever you wish.

Pros

  • Chartists can access a broad array of charts across 17 time frames, from 5-seconds to monthly charts.
  • Easy to zoom in and zoom out of charts with a one-click order entry.
  • Access a wide range of indicators, trading tools, and asset classes across markets.
  • Video tutorials accessible directly from the trading terminal.

Cons

  • The unavailability of real-time news is a drawback. Even though the broker provides links to third-party info vendors from the terminal, the fundamental data is not accessible in real time.
IQ Option Trading Platform

Trading with the Mobile Application

The broad features of the IQ Option app for handheld devices on Android and iOS are very similar to the web and desktop applications. The app has multiple chart types with different time frames, all the asset classes placed one below the other for easy picking, a menu on the left to view your current and pending trades, news, alerts, video tutorials, support, and a whole bunch of live chat options with the trading community to share ideas and information on the forex, stocks, and cryptocurrency markets. With features like Traders’ Sentiment and Community Live Deals, you can also follow other traders.

The IQ Option mobile аpp also includes drawing tools, Fibonacci retracements, the market sentiment indicator, and a separate option to deposit funds. We tested the app on an Android device and have reviewed the pros and cons.

Pros

  • The multi-function handheld application has a great appearance, with numerous products and features embedded in the terminal.
  • Quickly shifts to landscape mode on the Android when you open up charts and reverses to the normal display mode when you click on some of the other functions or parameters on the screen.
  • User-friendly with quick and easy access to information.
  • Option to follow other traders using Traders' Sentiment and Community Live Deals.

Cons

  • Many features on a single screen make the app look overcrowded, making the letters at the bottom of the chart difficult to read. It would have been much better if the app had multiple screens like some of the other FX brokers.
  • The app does not support the industry-standard MT4 platform, which may be a disadvantage for some experienced traders who prefer to use this platform.
  • The app sometimes crashes or freezes, especially when there is high market volatility or network instability.
  • The app has limited customization options and does not allow users to change the color scheme, font size, or chart layout.
  • Android
  • iOS

A Broad Range of Trading Features

The IQ Option online trading platform has quite a few built-in features for clients that let you not only decide how much capital you are willing to risk on every trade but also set your exits based on specific pre-set trading parameters.

Here are some of the trading features offered by the IQ Option forex trading broker:

  • Specify the investment amount for every trade.
  • Define your trade multiplier or the leverage required.
  • Option to place market, limit, or stop orders.
  • Choose to auto-close existing positions based on the profit percentage, profit in absolute terms, or if the asset price reaches a particular level.
  • Setting alerts.
  • Direct access to online chat for different categories like forex, stocks, and cryptocurrencies.

Other prominent features include:

  • Market sentiment indicator.
  • Fundamental/technical views and global economic news from ForexLive, FXStreet, and other third-party sources.
  • Option to monitor the technical analysis summary comprising buy, sell, and neutral view depending on the position of indicators and oscillators across multiple time frames.
  • Ready to view information on past, current, and forthcoming global economic events.
  • View and analyze trade data related to minimum permitted investment, spread, commissions, trading schedule, overnight position funding, etc.

Speedy Execution and Ample Leverage

Orders are executed at breakneck speed at IQ Option, supporting the broker’s claims on its website of a processing speed of 0.7 seconds.

Orders vary across asset classes on the trading multiple or the leverage front. Highlighted below are the trade multiples for each asset class:

  • For FX pairs, the multiple starts at 100 times for the minor and exotic pairs and surges to 1000 times for some major pairs like EUR/USD, USD/CAD, and USD/CHF.
  • For stock CFDs, the trading multiple starts at 2 and increases to twenty, while for ETFs, the trade multiple is around twenty to twenty-five times.
  • In cryptocurrencies, the broker offers leverage starting from three times and rising to 100 times for Bitcoin.
  • Lastly, all commodities CFDs come with a trade multiple of 150 times.

Pros

  • IQ Option broker offers many trading features seldom seen by competitors.
  • IQ Option displays only one price on all its terminals, along with the spread you would be paying if you choose to place a trade, a feature rarely seen with any of the other FX brokers.
  • Trade information comprises data that is specific to a particular asset class.
  • Tools also comprise widgets that include high/low values starting from 1 hour- more than 12 months, viewing trades of other clients, and time-specific buy/sell volumes.
  • Clients with LIVE accounts can also participate in the various chatrooms provided by the broker for different asset classes.

Cons

  • All the trading parameters are accessible only for certain asset classes like FX. The broker has cut down on features like technical analysis for the rest.
  • Algo traders will be disappointed as none of the platforms have the auto-trading feature.

Customer Support Channels

The company has a 24/7 customer support option and provides phone numbers for each country in which it operates. Once you open an account, you will receive access to their live chat support, as well. Live chat allows you to speak to customer care around the clock. On the plus side, the support team speaks English and the local language of the country.

However, the turnaround time of the live support is extremely slow—generally more than an hour. Also, some of the telephone numbers provided by the broker on the Contact Us page were switched off when we dialed during market hours.

IQ Option also has an embedded form where you can submit your question directly to the firm’s customer support desk. Once submitted, the support team will reach out to you within twenty-four hours at the email address you provided. The company is also active on all social media accounts like Facebook, Twitter, Telegram, Instagram, and YouTube.

Contacts of Broker Representative

Country Contact Details
United Kingdom +44 20 8068 0760
Brazil +0800 878 3257
Singapore +65 3163 7458
Portugal +351 882 880 034
Spain +34 90 086 16 12
India +91 000 800 040 13 61
South Africa +27 87 550 21 61
Thailand +66 2104 07 95
Australia +61 261 452 936
Argentina + 54 115 173 7455
Chile +56 442 045 012
Colombia +57 800 755 0167
Mexico + 52 18 002 889 985
Support e-mail [email protected]
Live Chat
Yes
Phone
+357 24 257 707

IQ Option is available in the following languages:

Arabic
Bulgarian
English
French
German
Italian
Spanish

Visit “FOREX BROKERS ACADEMY” for more information.

Go To ACADEMY

Awards and Recognition

The company has won plenty of awards over the years, mostly for its technology related to the trading platform and the mobile app. Following are some of the notable awards received by IQ Option:

  • “Most Innovative Trading Platform Globe” in 2023, by International Business Magazine.
  • “Excellence in Forex Platform Global” in 2022, by Global Business Review Magazine.
  • “Best Trading Platform” in 2022, by FX Daily Info.
  • “The Intelligent Trading App for Binary Options” in 2016, one of the world’s most significant annual mobile innovation and software award programs.
  • The “2017 Award of Excellence” for its IQ Option trading app. This is the highest honor among the communicator awards.
  • The “Best Technology Application” award from The Web Marketing Association (WMA).
  • The “Best Binary Options Broker Europe 2015” award from Global Banking and Financial Review.
  • The “Most Trusted Binary Options Broker” award from MasterForex-V. The company was recognized for its safety features to protect client funds.
Most Innovative Trading Platform Globe 2023
International Business Magazine
Excellence in Forex Platform Globa 2023
Global Business Review Magazine
Best Trading Platform 2022
FX Daily Info.

Frequently Asked Questions

What Is the Difference between Binary and Digital Options in IQ Option?

The principle is the same whether you’re trading binary or digital options; the only difference is in the quantum of profits.
At IQ Option broker, the payoff is generally a fixed sum or nothing if you are trading binary options. However, in digital options, clients have the facility to earn as much as 900% returns, depending on how far prices move from the strike.

What Is the IQ Option Leaderboard?

The IQ Option Leaderboard allows users to view a list of traders who have earned the most over the past week in descending order.

Does IQ Option Allow Hedging?

Clients at IQ Option are allowed to hedge their positions by taking opposing trades in the same underlying. This facility is available for all asset classes.

What Does IQ Option Forex Offer in Terms of Financial Education?

IQ Option offers a large selection of video tutorials on CFDs, market news, crypto digest, technical analysis, forex, etc. Furthermore, the broker’s blog has a lot of learning material on a wide range of topics, including a history of the markets, stock picks, rules of trading, earnings reports, and so on.

Conclusion

IQ Option forex broker has a robust platform that provides clients with an exceptional interface, variety in terms of product offerings, speedy execution of orders, decent leverage, and outstanding features.

On the flip side, the initial deposit, especially for the VIP account, is high, not to mention the trading cost and the additional fees. Also, the broker allows trading in cryptocurrencies, binary, and digital options even during weekends, which is weird since all the markets except cryptocurrencies are open on Saturdays and Sundays. So, if you’re trading binary options in FX, what is the price movement based upon since the underlying FX market is not functional? Well! There is only 1 thing we can think of … “SIMULATION.”

Also, virtually, the customer support desk, especially the live chat, does not exist. Additionally, the Financial Services Authority of St Vincent and the Grenadines unregulated the broker’s activities.

It’s a pity that a forex broker with an excellent platform and a large client base is operating without any regulation. Clients placing funds with the IQ Option broker do so at their own risk.

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