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IQ Option Broker Review

Review By: Alan Little
Review Updated: 2021-02-22
IQ Option broker platform review
4.3
Rating
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CFDS ARE COMPLEX INSTRUMENTS AND COME WITH A HIGH RISK OF LOSING MONEY RAPIDLY DUE TO LEVERAGE. 79% 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.

Overall Ratings
4.3
IQ Option Fees
5
Trading Platforms
3
Customer Service
5

IQ Option broker features

Feature IQ Option
Minimum deposit: $10 USD
Withdrawal fee amount:
Inactivity fee charged (Y/N):
Max leverage:
Spread from:
Number of instruments:
Year founded:
Time to open account:
Demo account provided (Y/N):
Countries of regulation:
Products offered:

IQ Option pros and cons

Pros
  • The broker has well over 6 million registered users and processes almost 300 thousand transactions a day.
  • The company currently offers 57 Forex pairs, 12 cryptocurrencies, 169 Stocks (available to trade via CFDs)  and 25 ETFs.
  • There is a high level of transparency, with fees and spreads clearly displayed on the website.
Cons
  • Inactivity fee of 10 EUR per month.
  • No  MT4 or MT5
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Review Sections:

Who are FXTM?

Our full IQ Option Review is coming soon. IQ Option is an international online broker, offering a range of tradeable instruments, including Forex and cryptocurrencies, as well as a wide choice of assets across 11 different industries. IQ Option Broker Review | IQ Option Intro | We Compare Brokers The firm is based in Cyprus and is fully authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC). The broker has well over 6 million registered users and processes almost 300 thousand transactions a day, with a monthly trading volume of around $130 million. The company currently offers 57 Forex pairs, 12 cryptocurrencies, 169 Stocks (available to trade via CFDs)  and 25 ETFs.

IQ Option Fees

5
Rating
At IQ Option, as at any broker, commissions, fees and spreads will depend on the instrument being traded. Spreads vary depending on market conditions and liquidity. Typical spreads are around 0.011% on the EUR/USD, and 0.019% on the EUR/GBP. As you would expect, spreads on trading cryptocurrencies are higher, with Bitcoin currently quoted at 2.541% and Ethereum at 4.131%. There is also a rollover fee which is charged for holding a position overnight. Withdrawal fees may apply, depending on your country and withdrawal method. There is an inactivity fee of 10 EUR per month, which applies after 90 days of inactivity. Fees for each instrument are clearly displayed on the website. IQ Option Broker Review | IQ Option Fee Table | We Compare Brokers

Trading Platforms

3
Rating
The broker offers a well-designed proprietary trading platform, which includes various charting tools and technical indicators such as Bollinger Bands, oscillators, volume indicators and moving averages. The interface is clean and intuitive, and it is easy to navigate your way around and find all the necessary tools and features. There are options to switch quickly between assets and instigate various types of orders, including stop loss and trailing stop-loss orders. There is a mobile app for both Android and iOS devices. The broker does not currently offer MT4 or MT5 as trading platforms.

Customer Service

5
Rating
Customer service is available via email, contact form, or live chat. While it is possible to contact the company by phone, there is no dedicated customer support line. Response times, however, are very fast, and the responses themselves very helpful. The company states that response time for live chat is now just 46 seconds, and that they respond to email support tickets within 24 minutes. IQ Option Broker Review | IQ Option Support | We Compare Brokers The broker also runs social media accounts on Facebook, Twitter, and Instagram, offering clients an extra, and very convenient, way to get in contact.  
Address: Yiannis Nicolaides Business Center, Agiou Athanasiou Avenue 33, 4102 Agios Athanasios, Limassol, Cyprus

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