IQ Option Review – All You Need To Know Before Signing Up

by | Mar 26, 2018 | Binary options, Digital Options, Reviews | 67 comments

This is a complete review of IQ Option.

IQ Option is a financial service provider that allows you to trade a variety of financial instruments like stocks, binary options, cryptos, ETFs, Forex, and Commodities.

With over 100 million registered users from around the world, the company stands as one of the best online options brokers today.

It has won numerous awards from reputable bodies and boasts of more than 2,000,000 active investors daily.

Based on my experience as an online trader, I have written an in-depth review of what IQ Option has to offer, its reputation, limitations, and lots more.

Most of all, there is a bonus for you at the end of this post, I’ll be teaching you how to trade profitably.

Keep reading and enjoy this article.


“This material is not intended for viewers from EEA countries.

Binary options are not promoted or sold to retail EEA traders.”


Post Summary

There is a lot of information I have shared in this post, but I have written them in plain language so that you will have no difficulty understanding the post.

Below is a list of everything I will discuss today, click on any to take you straight to its content;

  1. IQ Option Overview
  2. Traded Instruments
  3. Restricted Countries
  4. Accepted Payment Methods
  5. Trading Accounts
  6. Registration Requirement
  7. Customer Support And User-Interface
  8. Pros And Cons
  9. FAQ
  10. Conclusion

1. IQ  Option Overview

IQ Option was established in 2013, it started out as a binary options broker but later added other markets like Stocks, Forex, ETFs, Commodities, and Cryptocurrencies.

IQ Option has attracted a lot of traders since its existence.

Over $380 million trade volume is processed monthly with more than $10m monthly withdrawals.

IQ Option has received countless positive reviews from its customers.

The awards gotten from several reputable and trusted bodies are something to definitely bank on if you are not yet sure whether to subscribe with this broker.

Keep reading, we are about to know what IQ Option has to offer.

Create Account

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK


2. Traded Instruments

The instruments traded in IQ Option are as below.

  • CFDs On Cryptocurrencies
  • CFDs On Stocks
  • CFDs On Forex
  • Options (Binary Options & Digital Options)
  • ETFs (Exchange Traded Funds)

You need to understand what CFD is before you can trade the first 3 instruments above.

The first 3 instruments listed above are in CFD i.e Forex CFD, Stock CFD, and Cryptocurrency CFD.

For a better understanding of this review, I will briefly explain CFD.

What is CFD?

“CFD is an agreement to exchange the difference in the value of a particular asset from the time the contract is opened, until the time it is closed”. If you are new to trading CFD, you might not understand this definition, so I will make it much easier for you by using an analogy:

Suppose James wants to buy a piece of property, hold and sell it after after a month no matter the market value.

He might sell it at a profit if the value appreciated or at a loss if the value depreciated. To enter this trade, the piece of property might cost $100,000.

An onlooker might want to participate in this trade but he does not have $100,000. What he has is say $20.

How does he participate?

He can make a trade with his $20 in a CFD company stating that he believes the property will appreciate. That if the property appreciates within the time frame, he should be paid his $20 + the increment proportional to the appreciation of the property. But if it depreciates he will lose the fraction of his $20 proportional to the depreciation.

This is basically what CFD is. You are not trading in the real market but the expected outcome.

With this basic knowledge, let’s get on with IQ Option review.

CFDs On Cryptocurrencies

Currently, there are 12 cryptos traded in Cryptocurrency CFD on IQ Option, including;

  • Bitcoin (BTC)
  • Bitcoin Cash (BCH)
  • Ethereum (ETH)
  • Ethereum Classic (ETC)
  • Zcash (ZEC)
  • Tronix (TRON)
  • Ripple (XRP)
  • Litecoin (LTC)
  • Dash (DASH)
  • OmiseGo (OMG)
  • Eos (EOS)
  • Qtum (QTUM)

There is a new asset, Bitcoin x100, a multiplier of x100 for bitcoin trading, now available to non-European traders.

This multiplier allows a trader to make investments that exceed his balance which can drastically increase or reduce or reduce his potential profit.

CFDs On Forex

There are over 30 currency pairs in this market. The major pairs include;

  • EUR/USD
  • USD/JPY
  • AUD/USD
  • GBP/USD
  • AUD/JPY
  • EUR/JPY
  • USD/CAD
  • GBP/JPY, etc…

CFD On Stocks

Trading Stock CFD is similar to trading CFD of Forex and Cryptos but in this case, you are trading the gain and loss of companies like Microsoft, Facebook, Chevron, Coca-Cola, etc.

There are currently over 190 assets in stock to choose from.

Options

There are two types of options in this trading platform; binary options and digital options and over 40 assets to choose from:

  • Binary Options: This is the most popular type of option as well as what IQ Option was known for at its inception. You can profit up to 100% *(Amount to be credited to the account for a successful trade) in as little as 60 seconds if the trade goes your way. But lose all if it goes otherwise.
  • Digital Options: This is an option that speculates on the extent of price change of cryptocurrencies, indices, commodities, and stocks. Profit could be as high as 900% in the case of a correct prediction. The risk is also very high and could lead to the loss of your funds in a flash.

Exchange-Traded Fund (EFT)

An ETF is an investment fund traded on stock exchanges, much like stocks. EFT holds assets such as stocks, commodities, or bonds, and generally operates with an arbitrage mechanism designed to keep it trading close to its net asset value, although deviations can occasionally occur.

There are currently 23 ETFs to trade on IQ Option.

Watch this 2 minutes video to learn how to trade on IQ Option.

Create Account

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK


Restricted Countries

IQ Option accepts users from 213 countries including Nigeria, South Africa, Philipines, Malaysia, India, and many more.

However, it does not accept users from these countries;

Afghanistan, Albania, American Samoa, Australia, Belarus, Canada, Comoros, Crimea, Cuba, Democratic Republic of the Congo, Donetsk and Luhansk People’s Republics, Eritrea, Ethiopia, Guam, Haiti, Iran, Israel, Japan, Libya, Mali, Myanmar, North Korea, Palestine, Republic of Abkhazia, Republic of South Ossetia, Russia, South Sudan, Sudan, Syria, Transnistria, Ukraine, the United Kingdom, the USA, Vatican, and the U.S. Virgin Islands.


Deposits And Withdrawal Methods

Deposit Methods

  • Visa/Master Card ( Debit or Credit card)
  • Bitcoin
  • Neteller
  • Skrill
  • WebMoney

The minimum amount that can be deposited at once is $10.

Withdrawal Methods

  • Visa/Master Card (only initial deposit)
  • Neteller
  • Skrill
  • WebMoney
  • Bank Transfer

You will notice that Bitcoin is not among the withdrawal options. It has been temporarily disabled. Users will be notified once this service is re-enabled.

To withdraw your Bitcoin, you will have to first convert it to fiat and withdraw the fiat.

Withdrawal through an e-wallet like Neteller, Skrill, and Webmoney takes 1-3 working days while bank transfer takes 1-9 working days.

The good thing is that you can track this process, from when your withdrawal request was submitted to when it is processed and released to you.


Trading Accounts

There are 3 types of trading accounts available.

Practice account (Demo account)

This is a demo account. It comes with a $10,000 preloaded for you to practice with. You can also replenish this amount whenever it finishes as often as you want. Note that you cannot withdraw this money or gain from it, as it’s just for practice. The Demo account is essential because it will help you practice at no risk.

Real account

The second type of account is the real account. You need to deposit a minimum of $10 to activate a real account. With this account, you can participate in all the live markets available in IQ Options.

VIP account

This account is available to clients who deposit significant amounts (Note that the amount is subject to change depending on the country you are trading from).

This account gives you access to all the benefits of the real account owners and other benefits such as a personal manager, monthly trading record, feedback, etc.


Registration Process

Registration is quite simple; there are 3 ways to sign up on IQ Option;

  1. Via Your Email Address: simply enter your name and email address and then choose a password. Then visit your email to verify your account via the link that will be sent.
  2. Via Your Facebook Account: All you have to do is to link directly to your Facebook page and continue.
  3. Via Your Google Account: Same as above, all you have to do is to link directly to your Google account via your browser and continue from there.

You can withdraw your deposited amount without further registration.

However, to withdraw your profit, you will need to provide a government-issued ID (Driver’s License, Passport).


Customer Support and User Interface

iq options interface

The UI is one of a kind, apart from its aesthetic design and well-laid-out colors to help users quickly make a trade, it has all the trading instruments on one page in such a way that they do not conflict in any way.

In addition to this, there are video tutorials to put you through all the actions you want to take and a 24/7 customer support chat.

There is also a mobile app for Android and iOS users.

There are four ways to contact IQ Option:

  • Online Chat – as shown in the picture above. Response to chat takes 3 seconds. This is rather conservative because when I contacted support through this method, the response took less than 5 seconds, it was rather instant.
  • Support Ticket – The response to Support Ticket takes about 16 minutes as stated on the website.
  • Email – (support@iqoption.com)
  • Phone call – There are over 25 phone numbers through which one can contact IQ Option depending on your country, some of these numbers are toll-free.

Responsiveness – IQ Option Apps

IQ Option is responsive across all devices. To make trading easier and fasters, IQ Option App can be downloaded to your computer, Android, and iOS.

iq options app

This is crowned by enormous language support of up to 15 languages

  • English
  • Spanish
  • Portuguese
  • Turkish
  • German
  • French
  • Indonesia
  • Italian
  • Hindi
  • Polish
  • Chinese
  • Russia
  • Urdu
  • Norwegian
  • Vietnamese
  • Korean

Pros and Cons

Pros

  • Replenishable demo account.
  • Excellent user interface.
  • Active customer support.
  • Up to 300 markets are available for trade.
  • Mobile friendly.

Cons

  • Withdrawal may take up to 3-9 working days, depending on the withdrawal method used.

Frequently Asked Questions

1. Is IQ Option A Safe Broker?

IQ Option is not a scam platform for the following reasons;
– There has not been a complaint about anyone being scammed
– It has been around since 2013
– Its customer base has continued to grow presently at over 100 million
– Awards have been presented to IQ Option for excellency from reputable bodies.
If you are reading this and have experienced unfair treatment by IQ Option that suggests that they are a scam, please let everyone know in the comment section below.

IQ Option

2. How Much Can I Make?

Your success in trades depends solely on these factors;
– Your skills
– Patience
– Strategy
– Amount invested
As a beginner, I recommend you start by watching the training videos already provided by IQ Option to make more informed transactions. Then try out your skills on the demo account before trading in the real market to avoid losing your money out of ignorance.


Conclusion

I hope this IQ Option review was comprehensive enough for you.

Know that trading is risky, you can make a lot of money and you can as well lose all your money.

You have to be trading on IQ Option already to fully understand what I am saying here.

Do you think there’s something I missed out in this review?

Have you had any experience with this broker?

Let me know what you think about this platform or your experiences in the comment section.  

Lastly, don’t forget to share this post by clicking on the social media icons below.

Thank you.


General Risk Warning:
The financial products offered by the company carry a high level of risk and can result in the loss of all your funds.
You should never invest money that you cannot afford to lose.


Also Read:

67 Comments

  1. Lolade Ayobami

    I agree with your point that there are no perfect companies. And fact that broker has some minor flaws indicates that assumption that iq option is fake is not correct.
    Besides, there are many traders who have been trading on this platform for a long time.

    Reply
  2. vhardinal

    I think you don’t give the IQ option the credit it deserves. I can’t point to a single thing that needs improvement at this company.

    The services and features are complete. They are packed into the perfect trading platform that makes my trading routine much easier.

    Reply
  3. The Hao

    The author did not lie. Literally everything you need to know before signing I guess even more. I just found out a couple of things I have never heard of.

    Reply
  4. Toke Wuraola

    One of the best choices you can go with in this geography. And more importantly, they are a very popular choice in many other geographies. I have trader friends from all around the world, and one of the things we have in common is that majority of them are trading here. So it brings us all together, this means they have very good coverage and professionalism.

    Reply
  5. Chinedu Ireti

    Wow… Such an extensive overview of this broker’s capabilities that I could barely read it over. You’d better shrink it the next time xD
    Nevermind, I’m just a lazy bone. The company certainly deserves attention from traders because it’s well regulated, distinguished by a high reliability, offers nice trading conditions and basically that’s everything a typical trader requires to start off in this business.
    Surely, maybe it has space for development, but this only points at the company’s authenticity. No perfect brokers exist on the market.

    Reply
  6. idowu Olatunji

    please i need your help depositing funds

    Reply
    • Chiamaka Atueyi

      Hello there, kindly reach out to the Support Team as they will provide better help than us.
      Thank you.

      Reply
  7. Uche Okeke

    okay and when we want to withdraw from iq option through web money are we going to use same process i.e when iq opyion has paid our withdrawal then we send the money to our instantgold account then request for payment to our bank account

    Reply
    • Chiamaka Atueyi

      Yes, i think it follows the same process.

      Reply
  8. Kosi

    Please what is there charge per transaction, Cuase according to my bank dollar exchange rate, I meant to pay in 90$ but then the money that reflected in my broker account was 80$

    Reply
  9. Simplelife

    MY withdrawal is a problem for IQ to release
    MY withdrawal is a problem for IQ to pay.
    IQ is declining my withdraw without violating any terms and conditions and no reason given.They took away my VIP privilege, they took away my trading PRIVILEGE. Just because I made series of withdraw within 3day days. Some tiny withdraw no issue but above 1k withdraw is a problem.
    I am planning to use court. I have evidence that I followed all their advice before I opened the account.
    They thought I used VPN according to a customer service but I have sent them evidence that my location where i opened the account has not changed. The account is less than 2 months old. And IQ terms and conditions allow up to 6 months trading outside your country. My country is Nigeria and I am currently in uk. I gave the the best solution that I can do video of myself in UK where I opened the account with my IP reflect the same and I am physically present in UK. I also have copy of my communication with the support team who advised me to closed down my previous account then open the new account. My fund is around 6k in the account. NO review of account when drposit and lost but review when you made money just to scam. Account not blocked but trading activities suspended.i a not worried about review if anything wrong but payment suppose to be effect immediately trader provide evidence of non violations.
    I have all evidences of my communication with IQ support confirming I did not violate any terms and conditions. IQ is found of willful withhold traders fund. In short, IQ hate winners and work against traders. Although they are half legitimate and and half scammer.
    I am not working for any company to bring down IQ. This is my present situation with IQ. I will come back for another review about them if anything change.
    IQ is still my preferred broker.

    REMEMBER: HALF LEGITIMATE HALF SCAMMER (during withdrawal)

    Reply
  10. Shimbo

    Mr Jude please is IQ Option totally safe?
    Which deposit and withdraw method is the best for trader in Nigeria?
    And how can I go about the deposit and withdrawal?

    Reply
    • Jude Umeano

      IQ option is safe, you can use your card, or you use WebMoney or Neteller.

      Reply
  11. Victor VAS

    Thanks for this mind opening article Mr. Jude;
    Does it mean when I use my master/visa card to deposit and I make profit I can’t withdraw more than what I deposited and how many working days does it take for the payment to arrive. Thanks

    Reply
    • Jude Umeano

      I have heard complains about the master card so I do not use it at all. I use webmoney or neteller

      Reply
  12. Victor

    Hello Mr Jude, please how do I get good training to guide me through IQ option? I’m really set to begin trading on the platform. I’ve made thorough investigation and confirmed that IQ option is real. Please I need ur help on signals to aid me.

    Reply
    • Jude Umeano

      You can get good training material on the iq options site.
      I am working on a signal service that will be ready in 2 to 3 months time. You can join me facebook messenger by clicking on the link below to get notified when it is ready.
      https://m.me/Nigeriabitcoincommunity

      Reply
  13. Sylvester Adjarho

    I was confused on what binary broker is good for Nigerians, I must say that you have really helped me and God bless you, have completed my registration and my documents have been approved, I really want to register web money for me to be able to make deposit but I don’t know how to start,i will be grateful if you can put me through, Thanks.

    Reply
    • Jude Umeano

      I am happy to be of help

      go to https://www.wmtransfer.com/ and create an account.

      goto instantgoldng and create an account.

      buy webmoney at Instantgold, pay them in Naira, send them you webmoney dollar wallet (wmz) and they will fund the wallet.

      once you have money in wmz wallet, fund your binary options wallet via it.

      Reply
  14. Andrew

    Hello Mr Jude, please how do I get good training to guide me through IQ option? I’m really set to begin trading on the platform. I’ve made thorough investigation and confirmed that IQ option is real. Please I need ur help on signals to aid me.

    Reply
    • Andrew

      Please I want to ask if olymp trade too is genuine. I read lots of negative comments about it lately. Thanks.

      Reply
      • Jude Umeano

        Binary options are very risky. 95% of binary options traders lose.
        Olymp trade is widely and falsely promoted

        Reply
  15. Jovy

    I recently just joined IQ options and it has been good so far. Very better than most of the other brokers I have used that scammed me of my money. IQ options platform looks like a legit one.

    Reply
  16. Lolu

    It’s like one can’t receive money via neteller in Nigeria, you can only fund and pay merchants.Just like Paypal. Trying to find my way round webmoney

    Reply
    • Jude Umeano

      You can. but you will have to convert it to naira through exchanges such as Naira2USD. But their rate is quite high. Its better you use webmoney.

      Reply
  17. Dornubari

    I find it difficult to fund my olymp trade and IO Option real accounts, can someone please help me?

    Reply
    • Jude Umeano

      Have you tried doing so via WebMoney or Neteller?

      Reply
  18. tunde rufus

    Please, can you share with me us the strategies/ indicators u are using in binary options. I will really appreciate this.

    Reply

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ABOUT ME

Jude Umeano
Electrical Engineer by Training, Blogger and Crypto Trader by Profession (Founder of NigeriaBitcoinCommunity.com). I derive joy in giving information in a clear and simple way that everyone can understand