June 13, 2021


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IQ Option Review 2020: Binary Options Broker Test

11 min read

IQ option review result
IQ Option is regulated by the Cyprus Financial Services Authority CySEC. The provider has in recent years, through innovative ideas such as a demo account and a specially developed user-friendly platform, attracted a lot of attention. Opening an account with IQ Option is possible from 10 EUR/USD/GBP, while a demo account can be opened without a deposit. With this account, traders have the opportunity to first get to know the platform and the trading fetures without investing their own capital.

IQ Option also provides helpful video tutorials so that those interested can expand their trading knowledge. The trading conditions should also appeal to traders who do not have too large a budget – the minimum trade amount is only one dollar. What advantages traders have with the Cypriot broker, what the conditions look like in detail and what else should be considered, are all mentioned in our IQ Option review.

The facts at a glance
The regulation is carried out by the financial regulator CySEC.
A demo account will be provided.
IQ Option offers video tutorials.
IQ Option has its own platform with mobile apps.
There are no order fees.
The minimum deposit is 10 EUR/USD/GBP.

General Risk Warning: Do not invest money in binary options trading that you cannot afford to lose!!!

The topic overview for the IQ Option review:
Few Assets with Repayment Guarantees
The account opening at IQ Option
Demo account as an additional service with IQ Option
IQ Option Experiences with Service & Education: Competitive, but expandable
Legitimate or fraud?
The IQ Option Demo Account: unlimited with $ 1,000 in virtual credit
Customer Support at IQ Option: Available 24 hours a day, 7 days a week
The IQ Option Currency Pairs: Less is not always more
The conclusion: time for more innovative ideas

IQ option at a glance:
Established in 2013
Headquartered in Cyprus
Regulated by CySEC
Platforms: IQ Option Web and Mobile Version
Types of Trading: Put/Call, Turbo
Assets Underlying in 4 Asset Classes (Consumer Staples, Currency Pairs, Indices, Stocks)
Running times 30 seconds for Turbo, 1,2,3,4,5 minutes for Put/Call
Max. Yield ~92%
No loss protection
Bonus up to 0%
Account from $10
Min trade sum $1
Payment methods Credit Card, eWallets, Bank Transfer
Deposit Currencies EUR, GBP, USD, RUB
Languages German, English, Polish, Spanish, Portuguese, and more
Demo account Yes
Support by Email, LiveChat, Phone, Contact Form

Few Assets with Repayment Guarantees
Our IQ Option experience shows that the broker offers its clients the opportunity to trade binary options with a variety of assets. The IQ Options review shows that these assets are divided into four different categories. These are the precious metals, foreign exchange, indices, and equities. While the commodities are represented by one underlying, gold, and the indexes by a handful of assets, foreign exchange, and equities have more to offer. The stocks include the most common assets, such as Google, Microsoft, and Yahoo.

Our testing with the IQ Option trading conditions testify to customer-friendly conditions, which can also be seen in the form of the small minimum deposit requirement of 10 EUR/GBP/USD for a real trading account. In addition, traders can expect returns of up to 92 percent of their invested capital. For opening of a VIP account, the deposit of more than $3,000 is required. The minimum trading amount is $1 per trade; the maximum amount is $5,000.

In the trading platform, IQ Option has chosen its own development to help traders trade in binary options. These are available according to our IQ Option experience as a web version or as a mobile app. The platform is also easy to operate for new clients of the broker. A clear interface and various preinstalled tools allow the trader to trade without any delays. Especially a clearly designed interface in the trading platform should not be underestimated. The mobile apps are available for the operating systems of Android and iOS. Not only will traders be able to access the platform from different computers, but they will also be able to trade on the go and control the trading account activity.

Of course, this basically also works via the web version of the trading platform. However, the app is a much more pleasant option. Traders have direct access to their own account via the app and can trade anywhere, anytime. Full access is provided through the app, which means there are no restrictions on using your own trading account and trades can be set or their development observed while on the move.

Trading at IQ Option:
Minimum deposit: 10 EUR/USD/GBP
Minimum trade per trade: $1
Maximum trade per trade: $5,000
Amount that can be paid in case of success: up to 92 percent
Yields * not set in advance when trading classic options
Mobile trading via app

Of course, the security offered by the broker is interesting in connection with trading at IQ Option. Binary options trading is fundamentally very complex. However, it is important for the trader that he knows his money with the broker in good hands. The head office of IQ Option is in London, yet the regulation is handled by the Cypriot Financial Supervisory Authority.

The reason for this is that the broker acts from Cyprus. CySEC already has a lot of experience with broker regulation. One of the most important requirements is the management of client assets. This must demonstrably be managed separately from the company’s own assets. In the event of liquidity problems or insolvency, client funds are protected in this way. IQ Option meets these requirements and is periodically reviewed to maintain regulation. Interested parties and customers of the broker can find information in the terms and conditions on the website at iqoption.com/en/terms-and-conditions.

For trading, IQ Option provides various underlyings of precious metals, foreign exchange, indices, and equities – trading in cryptocurrencies has also been possible since 2017. A trading account can be opened from 10 EUR/USD/GBP minimum deposit and run both as a web version or as a mobile app.

The account opening at IQ Option
Opening an account with IQ Option does not require much time. The requirement is the age of majority, as under law, children and adolescents must be protected from credit transactions. For all adults it is only necessary to give the name correctly, to provide an e-mail address, to think of a password, to decide between a demo account and a real account, to accept the terms and conditions, and finally to click on “open account.” :) It is that simple…

Trading at IQ Option
Deposits and withdrawals can take place at IQ Option via the usual channels. These include payments by credit card, such as VISA and MasterCard®, as well as the use of the well-known eWallet services. The following can be used:
Note: before deciding on a deposit method, it is important to be aware that it also sets the payout/withdrawal path. The money you deposit, you can only withdraw it via the same method.

Payment methods at a glance:
Credit Cards
Bank transfer

The details of this can be found on the pages of the individual providers. Our IQ Option review shows that there are no transfer fees through the broker (exception: bank transfer.) Withdrawals can only be made from $2 and after a successful verification of the accounts. Therefore, it is imperative that the holder of the reference account is also the holder of the trading account.

If the trading accounts are unused for a period of 90 days, administrative costs will be incurred. This amounts to $25 per month for inactive accounts. This is to encourage the trader to trade and avoid accumulation of dead accounts. Such measures are geared and common in the industry. Therefore, there are also no negative IQ option opinions on this procedure. The fine can be avoided with the resolution of the accounts.

The opening of an account is done in just a few steps with IQ Option. Activation of accounts requires a minimum deposit of 10 EUR/USD/GBP. Before the first payout, a verification of the accounts must take place. The deposit method is also the payout method.

Demo account as an additional service with IQ Option
IQ Option offers no bonus for traders, but a useful additional service: the unlimited demo account. This can be used by traders to familiarize themselves with the offer of the broker, sometimes also financial bets, and to implement the best trading systems and trading tips first with a virtual credit.

IQ Option review of Service & Education: Competitive, but expandable
It is noticeable that the terms and conditions are only available in English and only an interpreted translation is available. Although this is not very customer-friendly and service-oriented, but industry-standard. The world language is English and therefore the language of science and business. Therefore, it is to be regarded as positive that after all most explanations and almost all questions and answers in the FAQ were translated into other languages. Thus, the broker performs much better in this regards than its competitors.

Furthermore, one can praise is the training offer of IQ Option and it is really commendable. Again, this is only offered in English, but in vivid videos, so less self-reading is necessary. Here you will find among other videos for the ideal use of the trading account. Especially technical aspects of trading are presented and clearly explained in the video tutorials on the IQ Option Platform. This is how traders can continue their education. At the same time, hints and representations regarding the binary options trading tactics are always of interest to advanced traders. Working on your own method rarely competes with more experienced traders.

In addition, the broker also offers in its registered users detailed information on indicators like “Moving Average,” “RSI,” and the “Bollinger Bands.” These methods are part of the basic knowledge of every trader and should therefore be studied carefully. Our IQ Option review shows that the broker is interested in getting its clients up to speed. Traders with a healthy self-confidence have more fun trading and put more trades than insecure traders. That’s why IQ Option also has the advantage of an extended knowledge base of its customers.

The broker IQ Option offers its traders much of the information in multiple languages, which is no longer common in international trading. Terms and video tutorials are in English. Nevertheless, one must praise here that IQ Option for not entirely unselfish reasons to the task of training and training his traders.

The Ultimate IQ Option Review Question: Is this site legitimate or a SCAM/Fraud?
The company address of the Brokers IQ Option is located in London. However, the company is headquartered in Cyprus, where it is supervised by the Cypriot regulator CySEC. It is subject to European law, which is why IQ Option must also comply with European directives on deposit insurance. IQ Option is not alone in this. In Malta and Cyprus, such favorable tax conditions were created that many brokers moved their headquarters there.

As a result, the Cypriot and Maltese financial supervisors have become specialists in the field of brokers and custodians. From this point of view, one can call the broker of course as legit. At present, the financial and business world is more concerned with whether binary options trading is an economically relevant capital business or whether binary options are falling into other areas. The outcome of this discussion can have tax consequences for traders, since income is taxed differently.

IQ Option is regulated by the Cypriot financial regulator CySEC, which in recent years has become a specialist in the field of brokerage regulation. At the moment, however, the legitimacy of binary options trading itself is still being questioned.

The IQ Option Demo Account: unlimited with $ 1,000 in virtual credit
Even though IQ Option was one of the few providers of demo accounts at the beginning, this is now part of the standard repertoire of every broker. Traders now see the offer of a demo account as a quality feature on which they no longer want to do without. New customers appreciate the opportunity with the help of a demo account to get to know the platform without real capital. However, professional traders appreciate the opportunity to develop and test new methods.

The IQ Option demo account is offered with a virtual $1,000 credit. If you’ve been in the world of binary options for some time, a virtual $1,000 balance seems ridiculous, with most other brokers offering at least $100,000 in play money. However, with IQ Option, it is possible to recharge the demo account when the virtual balance is used up. In addition, trading is possible with smaller amounts than with many other brokers.

It is thus possible, even with the seemingly small amount of credit, to get a feel for binary options trading and to get an idea of the trading platform. There is also the option of using the demo account to test different trading methods without using your own capital. Due to the low minimum trading sums per trade, $1,000 dollars play money is quite a good basis.

Our IQ Option review shows that a demo account is offered without any deposit. Considering the low trade minimum for a trade, a virtual $1,000 balance is a very acceptable offer.

Customer Support at IQ Option: Available 24 hours a day, 7 days a week
The possibilities are quite varied here. The contact can be made via email or via the contact form; LiveChat and a telephone support are also offered. In the contact form, it is possible to select different topics, such as trade questions, financial questions, technical questions, general questions, suggestions, mobile app, competitions, or demo account. Anyone who makes contact by phone and puts them on hold can receive a ticket and is then called back by the support – but the callback service only applies to VIP customers. This is of course a practical approach, because this way it is possible to save a lot of time. Customer support is available 24/7 and we only had to wait a few moments for an answer in our IQ Option test. In addition, the employees use different languages to provide advice and practical help.

Currency Pairs: Less is not always more
IQ Option offers its customers various currency pairs. These are the combinations of the classic major currencies Euro, British Pound, US Dollar, Australian Dollar, Canadian Dollar, New Zealand Dollar, Swiss Franc, Japanese Yen, and Russian Ruble. Exotic pairs such as the virtual currency Bitcoin are just as rare as the Czech, Danish, Swedish, or the Norwegian kroner. Behind the currency pairs of IQ Option thus hide the classics among the currency pairs.

The Conclusion: time for more innovative ideas
Our review has shown that IQ Option is a solid broker that continues to stick to its innovations. The offers and services are now industry standard. This is reflected in all aspects of the offers and the conditions are quite convincing too. Before trading, traders should inform themselves by reading the terms and conditions of the broker about the current conditions. The demo account meets the requirements of real-time quotes and the identical functionality of real accounts. The number of assets available can also be seen and video tutorials are also available. Overall, the broker offers due to its favorable conditions, a feature that cannot be outbid by many competitors. If you would like to gain experience with your own binary trading strategy, this broker is the best choice, because the demo account alone enables you to gain valuable experience. Interested parties should nevertheless be aware that binary options is a risky business!

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