iq options featured image

IQ Option review and test – Is it legit or not?

Important disclaimer:

This material is not intended for viewers from EEA countries. Binary options are not promoted or sold to retail EEA traders.

Min. Deposit:
4.1 out of 5 stars (4.1 / 5)
$ 10
Over 300+
Forex, Cryptocurrencies, ETFs, CFDs, Commodities, Indices

IQ Option is one of the largest online trading platforms von investing in financial instruments. You can literally trade over 300 markets in one software. In this review, we will have a deeper look into the conditions and functions of the online broker. We will show you how to trade and answer the question, “Is it really worth investing money in this company?”  – Find out in the next sections.

iq options website

(Risk warning: Your capital might be at risk.)

Facts about the company

5 / 5
🏛 Founded:
💻 Trading platforms:
WebTrader, Desktop Trader, App
💰 Minimum deposit:
💱 Account currencies:
💸 Withdrawal limit:
📉 Minimum trade amount:
⌨️ Demo account:
🕌 Islamic account:
🎁 Bonus:
📊 Assets:
Forex, Cryptocurrencies, ETFs, CFDs, Commodities, Indices
💳 Payment methods:
Credit Card, Skrill, Neteller, Advcash, Perfect Money
🧮 Fees:
From 0.5 pip spread
📞 Support:
24 / 7 live support via chat
🌎 Languages:
15 languages

Is IQ Options a trusted broker? Regulation and safety for customers

First of all, IQ Options is a well-known, very popular broker with more than 48 million registered users. The platform is popular for many new traders, many due to the small minimum investment amount. However, unlike other brokers, IQ Option, there is no evidence of an official regulation on their website.

IQ Options LLC is registered in Antigua and Barbuda. According to their website, they have more than 79 employees and are covered in various media outlets.

iq option reviews

What are the pros and cons of IQ Option?

We take a look at the most important pros and cons of the broker in this segment. IQOption is very well-known, and the company is in the business for almost ten years now. This is generally a very good sign, as we like to see brokers with a proven history. Let’s take a deeper look at the most important pros and cons of IQ Option to help you make your own decision.

Pros of IQ Option
Cons of IQ Option
✔ Multiple trading strategies available, not only binary options
✘ No official regulations
✔Small minimum deposit of only $10
✘ Fewer payment and withdrawal methods than some competitors
✔Customer support is available via chat 24 / 7
✘ Processing of withdrawal requests is rather slow at times
✔ High leverage of up to 1:1000
✘ Lacks more advanced analysis tools
✔ Trusted broker with a long history
✔ Minimum trading amount $1
✔ Unlimited demo account
✔ More than 300 markets available

Is IQ Option a user-friendly platform?

IQ Option makes it very easy to gain your first trading experience in minutes. The usability is very good, and we will take a closer look at the usability of the platform.

General Website Design and Setup
★★★★ Website offers all the essential information, and we like the facts it isn’t overloaded
Sign-up Process
★★★★ Sign-up process is very convenient, easy, and fast
Usability of trading area
★★★★★ There are multiple versions of the trading platform, like the desktop version, mobile app, and Web platform
Usability of mobile app
★★★★★ The mobile app is available for all devices, and trading via the app is great fun

What assets and financial products can I trade on IQ Option?

What can you trade with IQ Option? – You can trade more than 500 different markets on the platform. Stocks, Currencies, Commodities, ETFs, Indices, Options, and Cryptocurrencies. The range of markets is quite large, and from our experience, IQ Option is continuously adding new markets to its platform. For trading these markets, you can use different financial products, which we will discuss in this section.

IQ Option markets and assets for trading
IQ Option markets and assets for trading

(Risk warning: Your capital might be at risk.)

Options (not available in EEA countries):

For traders from non-European countries, IQ Option offers Digital Options and Binary Options. Binary Options are the most popular financial product of the broker. You can trade more than 100 different markets, like stocks, forex, and commodities. The yield is very high, like 80 – 95%, compared to other Binary Options Brokers. Choose different expiry times from 60 seconds up to a few days for the options. IQ Option also scores great in our Binary Options Broker comparison.

Typical yield of Binary Options (sample assets): 

Up to 100%
Up to 95%
Up to 95%
Up to 90%
Up to 90%


More than 35 different currency pairs are available on the platform. The spreads are very tight and less than 1.0 pips in the EUR/USD contract. In addition, there is leverage up to 1:1000. Surprisingly, IQ Option is one of the few brokers where you can change the leverage before each trade.

Typical spreads and leverage in forex trading (sample assets):

0.4 pips
0.8 pips
1.0 pips
0.8 pips
1.3 pips


You can trade stocks via CFDs (Contract For Difference). Maximum leverage 1:20 is available. You can easily invest in rising or falling prices via CFD. Stocks are available for international stock exchanges. The selection of Stocks to choose is quite impressive, there are more than 180 assets to choose from. The spreads for CFDs on stocks are also quite low, and you can profit from the increased volatility. But remember that increased volatility also increases the risks of losing your funds.

Coca-Cola Company
1.2 pips
Volkswagen AG
0.7 pips
Apple Inc.
1.9 pips


Since 2017 cryptocurrencies are very popular because of the fast changes in prices and the fact you can trade cryptocurrencies 24 / 7. You can trade these assets via CFD and invest in rising or falling cryptocurrencies. Over 25 different assets are available, and the leverage for most assets is 1:5.

Typical spreads and leverage on cryptocurrencies CFDs (sample assets): 



On IQ Markets, you can trade seven commodities, such as gold, silver, or wheat, with a leverage of up to 1:50.



This is a good way to build a portfolio with a lot of different assets. An ETF is a stock exchange-traded fund. In this fund, there are different assets and markets included. Trade over 22 different ETFs on the IQ Option platform with a maximum leverage of 1:25.

Energy SPDR
Gold Miners ETF


There are twelve Indices to choose from, like the US 100 index, the German 30 index, or the EU 50. The leverage is quite good, with 1:100 for most tradable assets.

US 100
German 30
EU 50

The offers and tradeable instruments are always depending on your country of residence.

(Risk warning: Your capital might be at risk.)

Review of the IQ Option trading platform

IQ Option offers a unique and professional trading platform for its traders. This platform is available for any device, like a computer or smartphone. From our experience, the IQ Option trading platform is one of the best-programmed software for traders. IQ Option is continuously adding new features to the software and tries to improve the trading experience of the customers.

In the next section, we will give you a better overview of the trading platform and what you can do with it. As professional traders, we recommend it to use a free demo account with IQ Option to get a good impression by yourself first.

IQ options webtrader platform
IQ Option multi-charting platform

Core facts of the IQ Option trading platform:

  • Customizable and user-friendly
  • Multi charting
  • Available for any device
  • Integrated support center and chat
  • News calendar for economic events
  • Free and customizable tools and indicators
  • Easy to use, and you see transparent the trading fees and conditions

Mobile Trading (App)

As traders, we also tested the app for mobile trading. You will get a very good experience with it because it runs smoothly and without disconnects. Similar to the computer or web-based platform, you will get access to all markets and financial products. Nowadays, mobile trading is very important because the markets are running 24/7, and you can check them with your mobile phone.

You can use the same tools as on your computer for chart analysis and trading. The app is available for Android and Apple (iOS) devices. Just click on the button below and download the mobile app for free.

IQ Option trading software for desktop and mobile
IQ Option trading software for desktop and mobile

(Risk warning: Your capital might be at risk.)

Professional chart analysis and tools for traders

If you want to trade successfully the markets, you need some sort of analysis. Most traders divide between technical analysis and fundamental analysis. From our experience, we can say that a combination of these two analysis types can give you a more detailed picture of the market.

The IQ Option trading software comes with a lot of different tools and indicators for your analysis. It is easy to implement them in your chart. Also, you can customize them as you want and change the timeframe or other settings. It is possible to develop a trading strategy with only indicators that could bring you the desired results. But you should try it in the demo account first.

iq options charting tools
IQ Option trading indicators for charting and analysis

Besides, IQ Option tries to add continuously new tools and indicators to the platform. They are completely free to use, and you can save different settings as a template to duplicate them on different charts. In conclusion, the IQ Option trading platform is one of the best for daily trading or long-term investments. You get a lot of professional tools for your trading ideas, and they are easy to use.

Facts about the chart analysis:

  • Free indicators
  • Easy to use
  • Customizable as you want
  • Use tools and widgets like the trading direction of other traders
  • Develop your own strategies with the tools

Invest in cryptocurrencies (Bitcoin and more) with IQ Option

Many traders are interested in trading cryptocurrencies with IQ Option. In fact, you can trade more than 20 different crypto markets (picture below). For investments, there is leverage available, and you can hold the trade so long as you want. The maximum leverage on Bitcoin is up to 1:100. In our opinion, this is very high leverage. For traders from the EEA countries, this leverage does not exceed 1:2.

Cryptocurrencies are traded by CFDs. For trading, you only pay the spread fee if you open or close and position. You can see the spread transparent in the software. For high-leverage products, the spread will be lower. Another advantage is that you can easily short any crypto market you want. So it is possible to open positions in either direction.

IQ options cryptocurrency markets
IQ Option cryptocurrency markets

Facts about crypto trading with IQ Option: 

  • More than 20 different markets (Bitcoin, Litecoin, Ethereum, Dash, Iota, and more)
  • Invest in rising or falling prices
  • Leverage is available up to 1:100 (up to 1:2 for EEA countries)
  • Competitive spreads and fees

(Risk warning: Your capital might be at risk.)

Account types: Which account types can you choose from?

IQ Option offers two different account types for traders. You can choose between the demo account and the real account. On the trading platform, you can switch with two clicks between the demo account and the real account.

You get the real account and demo account for free. The minimum deposit for the real account is 10$. In our opinion, this is a very small amount and lets any trader participate in the financial markets. To get the VIP account status, you need to be an active trader with a significant trading volume. But for this, you will get better conditions for Binary Options trading, VIP support, and better education for trading. (VIP accounts are only available for customers outside Europe).

Facts about the account types:

  • Free demo account
  • The minimum deposit for the real account is 10$
  • VIP status is granted to active traders with a significant trading volume (only for customers outside Europe)

Step by step: How to open your account

Many traders are asking how to open an account with an online broker. – It is quite simple nowadays. In the past, it was literally difficult to get access to the financial markets.

For an IQ Option account, you only need your real email address and password first (you can sign up through the form below). After that, you get direct access to the trading platform. The demo and real accounts are available for you. It is possible to make the first deposit, but we do not recommend this.

You should verify your account for up to 100%. IQ Option will help you with a detailed tutorial through the verification. As a reputable forex broker, IQ Option has to verify your identity. The payout can not be done if you are not verified to 100%.

Open your account step by step (It takes only less than 10 minutes):

  1. Register in the form above
  2. Get direct access to the trading platform
  3. Verify your email address
  4. Verify your identity
  5. Start trading

(Risk warning: Your capital might be at risk.)

Review of the IQ Option deposit and withdrawal methods

As a reliable company and trusted CFD Broker IQ Option clearly withdraws all profits of the traders. Each day they pay out millions of US-Dollars to their clients. For this, the broker is using only well-known payment methods.

Traders can choose between electronic or classic payment methods. Some deposits are made instantly through electronic wallets. You can use Credit Cards, Neteller, Skrill, Online Banking, or the classic bank transfer for your deposit or withdrawal.

Payment methode on IQ Option can vary, depending on your location.
The deposit methods on IQ Option can vary depending on your location

IQ Option handles the customer funds professionally. In order to deposit, IQ Option does not charge any fees for your transaction. For withdrawals, there will be a 2% fee starting from the second withdrawal per month. This is a big advantage compared to other brokers. Sometimes it can happen that your payment system is charging some fees. In the chart below, you will find additional useful information about the deposit and withdrawal information.

Processing time for deposit
Commission on deposit
Minimum deposit
Processing time for withdrawal
Commission on withdrawal
Minimum withdrawal
Credit Card
1-3 business days
1-3 business days
1-3 business days
Perfect Money
1-2 minutes
1-3 business days

In conclusion, deposits are processed easily and reliably on QI Option. There are no fees or small fees for your payment methods. All in all, we can recommend it to invest money there.

Facts about the payments:

  • Minimum deposit 10$
  • 2$ minimum withdrawal
  • Fast deposits and withdrawals
  • IQ Option charges few fees
  • Use Credit Cards, Skrill, Neteller, Advcash, Perfect money

The payment methods depend on your country of residence.

Does IQ Option offer negative balance protection?

Yes, with features such as Stop Loss/Take Profit, Negative Balance Protection, and Trailing Stop, IQ Options enable you to optimize your risk management. It is crucial you know the risks when you trade with leverage, and IQ Options will give you peace of mind. The negative balance protection feature isn’t applicable for binary trading as you will naturally never risk more money than in your trading account with this trading strategy.

How does the broker make money from you?

The way how IQ Option will make money depends on the assets you choose to trade. If you start with options trading, the broker will keep 100% of your investment if your forecast of the market movements turns out to be wrong. On a positive note, there is no commission on the trades, and you don’t have to worry about spread.

If you trade assets like Forex or Stocks with an added pip spread, the broker has no financial interest in the outcome of the trade as they will make some money from each trade regardless.

Finally, fees and commissions are sources of income for the broker as well, but it is fair to say that IQ Option is known for very low fees, so that’s not a huge factor.

(Risk warning: Your capital might be at risk.)

Customer support for traders

One unique service of IQ Option is 24/7 customer support for traders. Any time around the clock, you can call an IQ Option expert or write them via chat. Customer support is offered as email, chat, and phone support. For example, VIP traders get their own account support manager.

The support is available as a trading platform in different languages. IQ Option got international branches, and they are expanding their business. For beginners, trading tutorials are offered. You can read through market information for each asset you want to trade. In addition, there is a news calendar for forex, cryptocurrencies, and stocks.

All in all, support acts very professionally. Through our tests, they are responding very fast, and you will get your questions answered.

Facts about the support: 

  • Support 24/7 around the clock
  • Support in different languages
  • Email, chat, and phone
  • VIP account managers
  • More than 200 educational videos are available
  • Market information and news for assets

Accepted countries

Depending on your country, you will be registered with one of the companies that work under the IQ Option brand. Also, trading conditions and available trading instruments will differ.

These countries are not accepted: Afghanistan, Albania, American Samoa, Australia, Belarus, Belgium, Canada, the Czech Republic, Comoros, Crimea, Cuba, Democratic Republic of the Congo, Donetsk and Luhansk People’s Republics, Eritrea, Ethiopia, Guam, Haiti, Iran, Israel, Japan, Latvia, Libya, Mali, Myanmar, North Korea, Palestine, Portugal, Republic of Abkhazia, Republic of South Ossetia, Russia, Spain, South Sudan, Sudan, Switzerland, Syria, Transnistria, Ukraine, the United Kingdom, the USA, Vatican, and the U.S. Virgin Islands

(Risk warning: Your capital might be at risk.)

What are the best IQ Option alternatives?

Before we conclude the article, let us introduce our favorite alternative brokers you can take a look at in case you aren’t convinced about IQ Options. logo

Since 2016, has operated as a well-known and trustworthy online trading platform. The broker, which has its global headquarters in London and operations in more than 50 nations, has quickly built a reputation for offering its customers an intuitive interface and cutting-edge capabilities. Over 3,000 markets, including those for shares, commodities, and currencies, are accessible through In addition, clients benefit from a high level of security and trust because of the broker’s regulation by the Financial Conduct Authority (FCA) and the Cyprus Securities and Exchange Commission (CySEC).


Roboforex logo

On our list of the top Tickmill substitutes, RoboForex is next in line. You can trade a wide range of assets with this broker, and their key selling point is the cheap minimum deposit requirement of just $10. Your money is also very safe because the broker has an official license from the IFSC Belize. Additionally, a sizable business group with its main European offices owns the broker. Finally, Roboforex allows you a lot of versatility by providing a variety of account kinds to pick from.


xtb logo

One of the most well-known broker systems in the industry right now is XTB. Since its 2006 founding in Poland, XTB has experienced rapid expansion. You can trade more than 3,000 different assets with this broker, which are divided into six asset categories. But don’t just take our word for it; XTB has received numerous honors from its clients and is renowned for providing exceptional customer support. For instance, every customer has access to a learning center with a ton of resources and specialized 1 to 1 support for every client.

Conclusion: Is IQ Option a legit online broker or not? – We think, yes!

From our experience and tests, IQ Option is a well-known company for trading financial products. It is a very well-known legal online broker that allows you to invest in the financial markets. The facts in our review show that you found the right place if you are searching for a reliable broker.

IQ Options is one of the best trading platforms for online trading. The platform is user-friendly and easy to use. Moreover, professional and advanced traders are welcome. The biggest advantages of this broker are the small minimum deposit, a customizable platform, and good trading conditions. Compared to other brokers, IQ Option offers a competitive trading environment.

Advantages of IQ Option:

  • Free and unlimited demo account
  • Minimum deposit 10$ and the minimum trade amount 1$
  • More than 300 different markets
  • Forex, CFDs, Crypto, Stocks, and more assets
  • Very good and reliable trading platform
  • 24/7 support

(Risk warning: Your capital might be at risk.)

IQ Option Review

IQ Option – Accurate overview and test

Trusted Broker Reviews

Trading offers
Customer support


IQ Option is recommended overall. It is a well-known company for more than eight years, and there is a possibility to create a free and unlimited demo account.


With IQ Option you get access to a lot of different markets and financial products. For traders, it clearly shows the best trading platform for online investing. 5 out of 5 stars (5 / 5)

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Trusted Broker Reviews

(Risk warning: Your capital might be at risk.)

The most asked questions:

Is IQ Option safe?

The broker is very safe. You can use a 2-factor authentication to get more security of your account. All funds are securely stored. 

How long does it take for a withdrawal?

IQ Option verifies your withdrawal in a maximum of 1 -3 business days. Our tests showed that withdrawals through some methods are made in a few hours others take significantly longer.

What is the maximum leverage?

The maximum leverage depends on your asset. The maximum leverage can be 1:1000 in forex.

Are there hidden fees?

There are no hidden fees. If any fee occurs, IQ Option will inform you.

(Risk warning: Your capital might be at risk.)

Read our comparison to other brokers:

See other articles about online brokers:

Last Updated on January 4, 2024 by Arkady Müller