IQ Option: A Veteran In The Broker Industry

August 15, 2020
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IQ Option is one of the pioneers in expanding into developing south asian countries and many European nations. IQ Option offers a myriad of assets such as stocks, forex, commodities and crypto. Moreover, IQ Option has a lot of deposit and withdrawal options coupled with good educational resources. By offering more than 180 stocks and 43 forex pairs IQ Option promises to be a good platform for anyone looking to trade in these assets. Click the link below to join now

If you are looking for a complete platform that offers a lot more assets at decent prices then you should consider as it offers a diverse range of stocks, ETFs, bonds, crypto, commodities and CFDs. has the best and most affordable fee structures coupled with the most comprehensive educational resources, so it promises to be a good platform for your trading needs especially if you live in the USA as IQ Option is not available in that country.

We analyzed hundreds of data points relevant to the costs, benefits and features of trading with IQ Option and scored our findings on a 10-point scale across 10 distinct categories.
Fees 4
Signup Process 9
Minimum Deposit 10
Ease of Use 7
Deposit & Withdrawal Options 10
Customer Support 9
Asset Classes 7
Referral Program 0
Demo Account & Educational Resources 8
Safety & Regulation 8
Total 72


IQ Option is a broker that was launched in 2013 and is regulated by CySEC. The broker boasts over 48 million registered users with 1.34 million transactions on a daily level and a trading volume of $20.4 million per month. IQ Option was intelligent in diversifying into developing countries like Pakistan, Bangladesh, Brazil and Srilanka by investing heavily in advertisements and educating the public on how to trade. Since most brokers focus on developed markets rather than emerging markets, IQ Option gained significant market share in these markets.

The broker offers some good options in forex and stocks coupled with some really good customer service and a plethora of deposit and withdrawal options. IQ Option is available in 213 countries however, it is not available in USA as the government there does not allow brokers that are not regulated by the SEC. The countries it is available in are mentioned below:

 Albania Algeria Andorra Angola Anguilla
 Antarctica Antigua and Barbuda Argentina Armenia Aruba
 Austria Azerbaijan Bahrain Bangladesh Barbados
 Belarus Belize Benin Bermuda Bhutan
 Bolivia Bosnia and Herzegowina Botswana Bouvet Island Brazil
 Brunei Darussalam Bulgaria Burkina Faso BurundiBahrain
 Bangladesh Barbados Belarus Belize Benin
 Bermuda Bhutan Bolivia Bosnia and Herzegowina Botswana
 Bouvet Island Brazil Brunei Darussalam Bulgaria Burkina Faso
Burundi Cameroon Cape Verde Cayman Islands Central Africa
 Chad Chile China Christmas Island Cocos Islands
 Colombia Comoros Congo Cook Islands Costa Rica
 Cuba Curaçao Cyprus Czech RepublicDenmark
 Djibouti Dominica Dominican Republic Ecuador Egypt
 El Salvador Equatorial Guinea Eritrea Estonia Ethiopia
 Faroe Islands Fiji France French Guiana French Polynesia
 Gambia Georgia Germany Ghana Gibraltar
 Greece Greenland Grenada Guadeloupe Guam
 Guatemala Guernsey Guinea Guinea-Bissau Guyana
 Indonesia Iraq Ireland Isle of Man Italy
Ivory Coast Jersey Jordan Kenya Kiribati
 Kuwait Kyrgyzstan Lebanon Lesotho Liberia
Libya Macedonia Madagascar Malawi Malaysia
 Maldives Mali Marshal Islands Martinique Mauritania
 Mauritius Mayotte Island Mexico Micronesia Moldova
 Nauru Nepal Netherlands Netherlands Antilles New Caledonia
 New Zealand Nicaragua Niger Nigeria Niue
 Norfolk Island Montenegro Montserrat Morocco Mozambique
Myanmar Palau Panama Papua New Guinea Paraguay
 Peru Philippines Pitcairn Poland Portugal
Puerto Rico Romania Rwanda Saint Barthélemy Saint Kitts and Nevis
 Saint Lucia Samoa San Marino Saudi Arabia Senegal
 Serbia Seychelles Sierra Leone Singapore Sint Maarten
 Slovenia Solomon Islands Somalia South Africa South Korea
 South Sudan Spain Sri Lanka Suriname Swaziland
SwedenSwitzerland Tajikistan Tanzania Thailand
 Togo Tokelau Tonga Islands Trinidad and Tobago Tunisia
Turkey Ukraine United Arab Emirates United Kingdom Uruguay
Uzbekistan Vatican Venezuela Vietnam Virgin Islands UK
Zambia Zimbabwe   

Pros & Cons


  • Great Customer Service
  • Regulated by tier-1 regulator
  • A decent number of asset options
  • Good educational resources


  • Inactivity fees
  • Withdrawal fees
  • Expensive forex spreads
  • Not available for individuals in the USA

IQ Option Account Types

IQ Option Real Account

This is the basic account type that you can open. The account has basic educational resources and you can learn to trade using this account. The Real Account has higher spreads compared to the VIP Account and is designed for beginners. Overall this account has decent functionality compared to the VIP account which has a couple of more features than the Real Account.

IQ Option VIP Account

The VIP account has the option for you to hire a personal trainer. Moreover, you also have a dedicated account manager due to which you can get tailored expertise for your needs. However, our main analysis would be centred around the Real Account as it is a more common account type and the one most commonly used by traders.

Here’s a breakdown of our 10 scoring categories, each scored out of 10 for a total of 100 points.

#1 Fees

IQ Option has an expensive fee structure compared to most brokers. Let’s decouple it to see some of its strengths and weaknesses.

Forex Spread Rates

Forex PairMin Spread

The forex spread rates are much more expensive compared to other brokers. The spread rate for GBP/USD is very expensive at 9.4 pips, while the minimum GBP/USD rates are usually below 2 pips. For example, the minimum GBP/USD rate at easyMarkets is 1.7 pips. USD/JPY is usually between 2-3 pips for other brokers and at IQ Option it is slightly expensive at 3.0 pips.

There are several brokers that have much lower spreads than IQ Option. For instance, Tickmill allows you to get started from 0 pips and easyMarkets help you start from 1.2 pips.

Withdrawal Fees

The withdrawal fees are somewhat high compared to most brokers that do not have them. Here’s a list of the withdrawal fees:

Min AmountCommission
2 EUR2% or maximum 30 EUR
2 GBP2% or maximum 25 GBP
60 RUB2% or maximum 1,500 RUB
2USD2% or maximum 30 USD

You may have to pay up to $30 USD in withdrawal fees, which is quite expensive considering that many brokers do not charge them at all, such as HotForex &

IQ Option Deposit Fees & Inactivity Fees

There are no deposit fees for using IQ Option. However, there is an inactivity fees of 10USD/EUR/GBP applicable if you have not used you account for a period of 3 months. This is not much but there are many brokers like that do not have an inactivity fee. The expensive forex spreads, coupled with the withdrawal and inactivity fees mean that IQ Options scores only a 4 for this category of our analysis.

IQ Option Fees Score: 4/10

#2 IQ Option Signup Process

Most brokers do not take much time to get you signed up but the verification process can sometimes take a long time, hence, whenever opting for a broker, you should try and see how many days it takes for the broker to verify your profile. Fortunately, IQ Option does reasonably well in this dimension. The sign-up procedure is pretty simple and self-explanatory. You can easily apply for your account online. The procedure will help you in getting signed up quickly. The verification of your account tends to take up to 1 business day, due to which the broker loses a point in this dimension because there are brokers like that allow you to open an account within the same day.

IQ Option Signup Process Score: 9/10

#3 IQ Option Minimum Initial Deposit

The minimum initial deposit that you need to get started with your easyMarkets account is a meagre $10. This is a good limit with which to get started, meaning that both novice and experienced traders can easily get started with trading on IQ Option. The fact that you can get started with a deposit of only $10 means that the broker gets a perfect score in this section. However, if you want to get started for free do check out Webull, IronFX & Qtrade as these brokers have no minimum initial deposit at all.

IQ Option Minimum Initial Deposit Score: 10/10

#4 IQ Option Ease of Use

IQ Option has a decent platform for mobile and desktop use. The android application has a rating of 3.9 and the AppStore rating is 4.1. There is some decent user feedback for the interface of the broker. The interface is pretty comprehensive and shows visible trends of your asset which can allow you to trace variances associated with its price. For instance, you can see a detailed dashboard in the picture below where you can view different metrics in different visualizations. However, the dashboard can be a bit cluttered with many icons and visualizations in it.

IQ Option also has a news feed feature under the category of market news, moreover, they have a few statistical indicators that can help you trade better and more profitably.

IQ Option Market News

This feature helps users stay in touch with the latest events that can impact the prices of their assets. Reading market news is very important for traders because often events can cause upheavals in prices that cannot be predicted in statistical models and indicators.

IQ Option Statistical Indicators

Most of the statistical indicators used are related to moving averages such as the Moving Average Convergence Divergence (MACD) line which measures price variation. Moreover, you can also use indicators like the Bollinger line that is used to determine ranges of price variation. However, the broker lacks charting tools, that help in predicting prices such as the ones offered in due to which it loses several points in this category.

IQ Option Ease of Use Score: 7/10

#5 IQ Option Deposit & Withdrawal Options

There are plenty of options through which you can deposit or withdraw your funds. It is always good for a broker to have multiple deposit and withdrawal options to provide users with the flexibility they need. Some of the options offered are shown below:

  • Wire Transfer
  •  Credit/Debit Cards such as Visa & Mastercard
  • E-Wallets such as Skrill, Neteller, WebMoney, Perfect Money & advCash

While IQ Option offers plenty of options for withdrawal and depositing of funds, an issue to be noted is that you must use the same method for withdrawal of funds that you used for depositing funds. This dimension scores a perfect 10 because of the number of options that are available for users.

IQ Option Deposit & Withdrawal Options Score: 10/10

#6 IQ Option Customer Support

You can get customer support through various platforms with IQ Option. They have one of the most responsive customer service systems in the industry. Some of the options that are available include:

  • Live Chat: The average time for response is 43 seconds
  • Email: Queries are usually answered within 20 minutes. You can reach out to customer support at
  • Telephone: They’ll usually answer within a few minutes and you can find the contact numbers for your country on this link.

Customer support is available 24/7 during weekdays and weekends, which is pretty decent. However, IQ Option does not offer a personal account manager for the Real Account users due to which it scores a 9 rather than a perfect 10.

IQ Option Customer Support Score: 9/10

#7 IQ Option Asset Classes

IQ Option offers plenty of asset classes for you to trade-in let’s have a look at them and dissect them further.


IQ Option Forex Pairs

IQ Option offers plenty of major, minor and exotic currency pairs that one can trade-in. Here’s a list of some popular currencies offered by IQ Option include:


43 forex pairs is a decent portfolio that IQ Option has and you can see from the list above that there are a few pairs like EUR/HUF, USD/DKK and USD/TRY that they offer that are not offered by most brokers thus, providing some great value to customers.


The stocks at IQ Option are divided into different categories that can help users identify the kind of stocks that you want to buy. This can be really helpful if you are looking to invest in a particular industry rather than a specific stock. Some of the categories offered and the stocks within them are as follows:

IT & Internet Blue Chip Stocks

These are companies that are involved in IT and tech. Some of the popular stocks in this category are

  • Microsoft
  • Nvidia
  • Paypal
  • Google
  • Salesforce

Dividend Kings

These are the companies that often pay rich dividends to consumers so if you are looking for a stable source of income you should look at these stocks. These companies include.

  • Boeing
  • Cisco
  • P&G
  • Pepsi
  • Pfizer

Top 10 Revenue Earning Companies

These companies include the highest revenue earning companies in the US. These companies include

  • AT&T
  • Walmart
  • Exxon
  • AmeriSource
  • CVS Health Corporation
  • McKesson Corp
  • Apple
  • Amazon
  • Alibaba
  • Berkshire Hathaway

The categorization of stocks really helps users in identifying what they want to invest in. You can also see the diverse range of industries and stocks available from the lists above.

Commodities & Crypto

The broker offers basic commodities like gold, crude oil and silver. Moreover, they offer 5 cryptos including Bitcoin, Eretheum and Litecoin which are the major players in the space. Hence, the range in these domains is somewhat limited due and the lack of bonds in the asset portfolio means that the score is a 7 rather than something more substantive.

IQ Option

IQ Option Asset Classes Score: 7/10

#8 IQ Option Referral Program

Referral programs play an important role in making trading fun because you can use the platform with friends and learn more. However, there is no active referral program for IQ Option for individual users. This reduces the chance that you have to earn more funds by referring more friends. Hence, the score for this dimension is 0.

IQ Option Referral Program Score: 0/10

#9 IQ Option Demo Account & Educational Resources

Demo Account

Having a good demo account and educational resources to practice trading skills can be beneficial for an individual. IQ Option has a demo account through which you can learn how to use the trading platform. You are given $10,000 in your IQ Option demo account to experiment and learn. A good feature of the demo account is that you do not have a time limit so you can continue to use it as long as you need to practice to improve your skills and strategies.

Educational Resources

The educational resources mainly consist of tutorial videos on how different assets are traded and how the platform is used. A feature that I liked about the educational resources is that all the statistical tools in the platform are explained in helpful short videos that help you make sense of the indicators that are used in building different types of visualizations and dashboards. However, there are brokers that hold live webinars and courses to train users hence, IQ Option scores a decent 8 rather than a perfect 10.

IQ Option Demo Account & Educational Resources Score: 8/10

#10 Safety & Regulation

IQ Option is regulated by authorities in Cyprus. It augers well for users that the broker is regulated by a tier-1 regulator like CySEC because it is a strong regulator and one that has regulated a lot of international brokers. The score for this dimension is an 8 rather than a perfect 10 because there are stronger regulators like the UK’s FCA and USA’s SEC that currently do not regulate IQ Option.

IQ Option Safety & Regulation Score: 8/10

While researching 100+ of the world’s top brokers, we’ve noticed what works and what doesn’t from the customer’s point of view. That’s why our final test for any broker is to compare it to, which scores 91/100 points across the 10 categories mentioned in this review.

IQ Option vs.

IQ Option has a decent asset portfolio, a good demo account and some really good customer service. However, there are a few dimensions where our highest ranked broker is better than IQ Option. Let’s have a look

More Asset Options

When it comes to trading options the more options a broker offers, the better it is for you to build diversified portfolios. simply gives you more options by offering more assets such as bonds, more than 20 commodities and 1,700 stocks from all around the world.

A Better Fee Structure also has a very competitive fee structure and they do not charge withdrawal fees or inactivity fees as IQ Option does. The spreads are generally tighter and there are no commissions and hidden fees associated with trading.

Stronger Educational Resources

While IQ Option has decent educational resources, is like a digital university for learning the art of trading. Often brokers offer a few basic educational resources for traders but does a comprehensive job in this regard and it is with you in the journey for you to become an experienced and successful broker. Some of the resources offered include

  • Tutorial videos on using the platform
  • Educational videos on trading different assets
  • Webinars
  • Educational articles

The resources offered to users start by teaching you how the platform works and then with webinars and articles keeps you updated with what’s happening in the market. also offers asset trading training guides.

Training Guides

  • CFD training guides
  • Commodities training guides
  • Indices trading guides
  • Trading psychology guides
  • Shares trading guides
  • Forex trading guides has you covered if you want to start trading an asset that you have not traded before. They also offer 5 courses that are aimed at training beginners and refreshing the knowledge of experienced traders. Online Courses

  • Introduction to financial markets
  • ABC of derivatives
  • Financial instruments
  • Derivatives and risks of trading
  • What are leverage and margin

The online courses are designed for beginners but anyone can benefit from them in learning the basics and good practices and knowledge of the industry.

So what are you waiting for signup today for the best broker in the business that has more assets, better pricing structure and a wealth of knowledge to change you from a novice to a superhero in trading.

Related: If you want to learn more about this broker, you can read this excellent review of

IQ Option learning

In Summary

IQ Option offers some really good asset options coupled with some amazing customer service round the clock, unlike other brokers that have no service on weekends. The broker also gives you plenty of deposit and withdrawal options meaning that you are not stuck in situations where you have to be worried about depositing and withdrawing funds. IQ Option is one of the pioneers in offering brokerage services through desktop and mobile applications. Signup today to join the services of a veteran in trading.

However, is a much better broker with no withdrawal or inactivity fees. You can learn to trade various different assets using the educational resources available on the platform. Moreover, also offers many more assets like bonds and a wider variety of stocks and commodities in addition to the assets offered by IQ Option. Join now to trade with a holistic platform and become a champion trader.

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