IQ option in review
IQ Option is one of the emerging binary options brokers that appeals primarily to newcomers and novices in the industry. Are you interested in the offers of IQ Option? At least on paper you seem to make a very good choice. The conditions on market are unusually high, which in turn leads to high profit opportunities for you. However, IQ Option is not the oldest provider, maybe it lacks experience, or the system is generally more likely to pull you over the table. All these questions we clarify for you in our IQ Option review and test, which deals with many interesting aspects of and about the offer of the popular binary options broker.
* Risk Warning: Trading in Binary Options may result in the loss of your invested capital.
Minimum deposit only $10
Minimum position size only $1
91% return per successful trade
Trading platform very intuitive
Free demo account
Limited phone support
Low training opportunities
Our review at a glance
In a first part of our Binary Options Broker reviews, we usually always ask ourselves whether a broker is to be trusted at all. Especially with IQ option, this question seems to be appropriate. On the World Wide Web, there are always negative reviews and questions from angry customers, whether IQ Option is a rip-off. Some users claim that IQ Option is not legal and that it is even a fraud. What most users overlook, however, is that IQ Option uses only the system of binary options. And again, nothing is illegal. Some clients are blinded by big promises of other binary options brokers and think that making money is easy. Of course this is not the case, nobody gives away money. Yet, it does cause them to be upset and accuse IQ of fraud. In most cases this is not true.
In fact, binary options brokers are only truly a fraud if they refuse to pay out client funds. This issue of not paying profits to customers is found in many black sheep [brokers] in the industry, which are therefore already avoided by many traders, but are still active in the market and try to lure new customers with flashy advertisements. For IQ Option, this is explicitly not the case. Here, we received our payout in our IQ Option Test and found no tricks and fraudulent things.
Behind IQ Option stands the company Investlab Holding Limited. This in turn has reported its headquarters on the Mediterranean island of Cyprus. Many Binary Options Brokers are moving to the corporate headquarters in Cyprus, Malta, or other European small states. However, this does not have to be the reason that they may want to flee the law. Rather, it is important for operators to pay higher returns thanks to lower tax rates and thus to remain competitive.
The broker IQ option itself was only founded in 2013. This makes IQ Option one of the youngest binary options traders currently active on the market. That does not mean that less experience is involved. On the contrary: IQ Option was able to observe the trajectories of other binary options brokers and to think more about their own strategy. This made it possible, for example, to learn from the mistakes of other providers and then make it better with their own platform. And that is exactly what we got from IQ Option in our review.
Our check for professionalism always includes the assessment of to what extent the broker supports the trading claims of individual traders. A certain training offer with different videos is therefore very important in our opinion. In the area of “Education” we have also found what IQ Option wanted. Unfortunately, there are only a few videos available on topics related to binary options trading. Here, we find, there is still room for improvement for the management of IQ Option. Regarding this feature, as a beginner, it may not be wise to rely on IQ Option. Take a look at the numerous eBooks, resources, and tutorials from other binary options brokers that provide them online for free.
Positive is the free demo account. Immediately after signing up, IQ Option can make use of this special service, which will be provided to you permanently and on a long-term basis. Simply use the demo account to check your strategies directly on the market and see how ready you are for the “real” market, so gamble and speculate with real money. For theoretical training on literature and tutorials is always a practical aspect. Only very few binary options brokers offer free demo accounts, so be happy about the benefits that IQ Option offers you.
Available tradable underlyings and instruments
The second part of our extensive review, as always, deals with the content of IQ Option’s offer. Again, we used various measures and data to show us how good the offer is compared to other binary options brokers. Before signing up with a new broker, do not just test if it’s actually a reputable vendor. Take a look at whether and to what extent the offer can compete with those of other manufacturers and service partners. Read these texts carefully and memorize the important data to compare them directly with those of other brokers.
IQ Option already appears very exemplary in terms of returns. These are above the market average at a maximum of 91% per successful trade. We would even say that there are only one or two providers, the IQ option can last long-term water here. However, it is important to note that these 91% are not available for every binary option. Rather, this high profit is only possible if basic prices and underlyings, which are traded by many people, are selected. However, the percentages as a basic indicator are certainly ingenious. Make comparisons with other brokers and see who is higher. Overall, you can assume that the broker with the higher maximum yield also has a higher average yield.
However, IQ Option looks a bit frugal with regard to the different types of trading. In addition to the usual call and put trading, only turbo options are available, but plenty of them. Turbo options are basically normal and ordinary binary options. The difference, however, is that the contract times are significantly lower. For example, with IQ Option, they are 5 minutes, 2 minutes, 60 seconds, or even 30 seconds. However, we do not recommend beginners to look for the very big trading luck with turbo options. Normally, these turbo options are very difficult to assess, so betting is more like blind gambling than real-world trading, as it should be part of the binary options. If you are still interested in turbo trading, you should only try the 5-minute turbo options.
Since there are no other trading types and options such as One Touch or Boundary, no returns can be issued for these riskier high yield options. Overall, we find their absence a great pity and would advise IQ option out of fairness to the newcomers and newbies who sign up on the site, preferring to take in other types of trading and eliminate the turbo options.
Assets currently available at IQ Option are 78. The Underlyings are composed of 49 stocks, 6 indices, 22 currency pairs, and one commodity. In our estimation this number is average, but in any case enough for beginners and newcomers.
Very fair designed are the loss hedges. You can protect up to 60% of your bet on a position. However, this loss coverage is usually always at the expense of your maximum return on a position. We recommend beginners to hedge at least 20%, so you do not fall directly into the minuses.
Bonus for new customers at IQ Option
IQ Option does not offer a bonus to new customers under the CySec regulatory guidelines.
Deposit and withdrawal
Deposits can be made conveniently at IQ Option by credit card, bank transfer, Skrill, Neteller, or GiroPay. Except for PayPal, we find that all relevant and important deposit options are available. All you need is an amount of $10; Yes, you read that correctly: with IQ Option you can start trading with only $10! Against the background that the minimum position size is also very low and fair at 100 cents; i.e. one dollar, a real bargain for beginners who want to start trading with little risk.
There are special features for VIP users. These get a faster processing of the payment requests, which then takes only one working day. In a bank transfer you can therefore expect that the money is transferred within three or four working days in your account. Further advantages as a VIP customer: You get a personal account manager, with whom you can also discuss strategies and tactics in action. You’ll also get a detailed report on your trading activity, and then see where you made profits and losses like what.
Security and regulation
IQ Option is regulated by the Cypriot financial regulator CySEC. This also takes care of almost all other binary options brokers in terms of licensing. For regulatory purposes, the regulator includes specialized software in the binary options broker program. This then controls whether courses are transmitted in a timely manner and manipulation from the outside occurs. If so, there will be a closer scrutiny by the Financial Regulator. In case of doubt, this can lead to a broker being deprived of the license.
The CySEC gets its orders and laws to which it has to comply directly from the EU from Brussels. Other European regulators have the same strict guidelines on how to control brokers and other companies. The regulation is therefore no worse than one that comes for example from USA. We are therefore very sure that IQ Option is operating legitimately.
Support and customer service
In terms of customer support, we have received a mixed picture. On the one hand, there is telephone support, which is available from Monday to Friday between 8 and 16 o’clock as well as an email service and on the other hand however, it took us a long time, until we received an answer to our inquiries. This may show the lack of experience of the employees. On emails we received an answer within 24 hours. The staff at IQ Option are very friendly and helpful. We assume that improvements will be made here in the near future.
Website and App
The trading platform of IQ Option is very clear and in our opinion easy to use. If you want, you have the option to add more interesting features. These are candle charts, which are very common in financial trading, as well as indicators such as Moving Average, Bollinger Bands, Alligator, and RSI. You can also customize the look of the platform as you like it. Overall, we are very confident in the capabilities of the IQ Option trading platform. An app is also available from IQ Option. Once again our advice: Do not use any apps. The charts and prices are very confusing there, making your trading more of a speculation.
Overall, we issue IQ Option a positive review. This is based on the low minimum deposit for beginners. The number of underlyings is average, but the level of returns is interesting. If you want to learn more about binary options, you should prefer another broker to find educational material. Finally, we say that you are in the best hands if you choose IQ Option for binary options trading…