IQ Option Forex Broker Review
- Website: www.iqoption.com
- 24/7 chat support
- Office address:
- Yiannis Nicolaides Business Center, Athanasiou Avenue 33
- Agios Athanasios, 4102 Limassol
IQ Option does not appear to offer any bonuses to traders, however there is a VIP account that offers clients some additional advantages and perks. The trading software offered by this broker is intuitive and yet innovative and is suitable for use by both new traders and experienced investors alike. With impressive 24/7 customer service, this broker does very well on the support front, however their range of currencies available is quite limited at just 25.
IQ Option is a successful and growing online forex broker that offers a number of impressive features for clients. A particular good choice of broker for new traders, this Forex broker offers the opportunity to put down a low minimum deposit and even offers some strong educational resources to help novices to learn more about the basics of trading. This broker also offers the opportunity to experiment with strategies thanks to the free demo account.
IQ Option was established in 2013, and offers clients the security of being a CySEC licensed and regulated broker with segregated client accounts for peace of mind. This reliable broker has profitability levels of up to 90% (*amount to be credited to the account for a successful trade) and has won a number of awards for high quality customer service and its high quality mobile platform. Today IQ Option has more than 14 million client accounts, but unfortunately, no clients from the USA are accepted.
IQ Option only offers around 25 currencies for trading, which is more limited than those offered by several of its rival brokers online.
Bonuses & VIP programs
Although IQ Option does not seem to have any lucrative welcome deals for its new clients or any promotions for its existing customers, this broker does offer a VIP account for its high level clients. VIP clients are able to benefit from exclusive access to VIP trading tournaments together with the services of a personal account manager and exclusive access to VIP access only educational materials.
IQ Option has provided high quality online trading software that is 100% web based so there is no need to download or install any memory heavy programmes to the trader’s PC or laptop. The trading interface is accessible from any place and at any time from any internet enabled device. However, to further facilitate trading on the move, IQ Option has developed a free of charge mobile app for Android devices which can be downloaded from the Google Play Store and for iOS devices which can be downloaded from the Apple App Store. This advanced mobile app allows access to all of the primary desktop functions from the palm of your hand as well as convenient access to all trading platform features.
Deposits and Withdrawals
There are lots of convenient banking options available from IQ Option which allow clients to easily deposit funds into their trading account or withdraw money easily. The available methods include:
- Visa Electron
- Bank Wire Transfer
The minimum deposit amount to open an IQ Option account is very low, just $10, and there are no commissions or fees charged on any withdrawal or deposit save those which are carried out via bank transfer.
Funds are able to be withdrawn rapidly and simply through the client account portal with withdrawals being processed in around 24 hours. Minimum withdrawal amounts are very low at just $2 with the maximum withdrawal amount being a high $1,000,000 per day.
IQ Option is committed to offering the highest quality customer service, offering 24/7 access for their clients to the customer service team. Their support centre is able to be contacted at any time of the day or night using email or through one of the multilingual telephone helplines based in the following countries:
- South Africa
The helpful frequently asked questions area on the site also offers immediate responses to the most commonly asked trading questions.
Extra Features and Resources
IQ Option offers several high quality educational materials to help its clients. Some of the includd resources include video tutorials covering a range of useful subjects in order to increase traders’ subject knowledge while boosting their chance of trading success. IQ Option offers clients the chance to open a free demo account which allows them to experiment with the trading platform and to try out new strategies without any personal financial risk. VIP clients also benefit from several locked educational resources that are solely available for high level traders.
IQ Option is a forward thinking Forex broker which has plenty to offer potential clients, whether they are a high level VIP client or a brand new trader. There are, however, some negative points to bear in mind when considering choosing this broker.
- Cutting edge trading software that is suitable for use by both experienced and novice traders
- 100% online trading interface requiring no installations or downloads
- 24/7 customer support via email and telephone
- Multilingual support
- Choice of convenient deposit methods including popular e-Wallets
- Fast processing of withdrawals
- Mobile app for Android and iOS devices allowing trading on the go
- Very low minimum deposit of just $10
- Very low minimum withdrawal amounts
- VIP account for high volume traders with excellent benefits
- Free educational resources
- Extra educational resources for VIP clients
- CySEC regulated and licensed broker for peace of mind
- Award winning reliable broker
- Opportunities to take part in trading tournaments
- Free demonstration accounts
- Limited range of available currencies
- Does not accept USA clients
- No bonuses available for new or existing clients
I am new to Forex trading, is IQ Option a good choice for me?
If you are brand new to Forex trading, IQ Option represents an excellent choice of broker for you. When compared to most other brokers, IQ Option requires a very low minimum deposit of just $10, and this makes trading accessible to even the newest of investors. Trades begin at just $1 too, and this means that novices are able to control their risk when participating in their first few trades. As IQ Option also offers free demo account access, this allows potential novice traders to try out the trading platform free of charge and to learn the basics of Forex trading without risking any of their own money. There are also free educational resources available through this broker which allow novices to learn more about the basics of investment and to develop a further knowledge that will enable them to further their success.
Can I get support whenever I need it from this broker?
IQ Option is committed to supplying a high level of customer service to clients, having a 24/7 customer support team who can offer knowledgeable advice and speedy assistance. While there are no instant contact methods such as Skype or Live Chat, the multiple telephone helplines are open 24 hours a day, 7 days a week and are located in a number of countries around the world, offering multilingual support to suit the needs of global clients.
Is my money safe with IQ Option?
Clients who have concerns over the safety of their funds need not worry when they choose IQ Option as their preferred broker. As they are licensed and regulated by CySEC, clients can have complete peace of mind. All client funds are kept in segregated accounts and all financial transactions carried out through the broker’s website are protected by strong, technologically advanced SSL encryption.
Can I use e-Wallet methods to deposit funds with IQ Option?
IQ Option offers a number of convenient deposit and withdrawal methods for the benefit of its clients, whatever their payment preferences. For those who prefer more traditional options, they can choose from bank wire transfers, credit or debit cards. Those who prefer contemporary e-Wallet methods, however, have the option of choosing to use Neteller, Skrill, Webmoney or Sofort.
Can I trade with IQ Option using a mobile device?
As all of IQ Option’s trading software is 100% web based, it can be accessed at any time, in any place from any internet enabled device without the need for installations or downloads. However, to facilitate trading on the go, this broker has also developed a free Android and iOS mobile app which offers seamless access to trading accounts from smartphones or tablets.
Risk Warning – Your capital is at risk. Trade with caution, these products might not be suitable for everyone so make sure you understand the risks involved!