Forex Broker Reviews
Full IQ Option Review
By: Matt Simpson, Forex Solutions Founder
IQ Option is a reliable and trusted forex broker based out of Cyprus, providing traders with a variety of trading instruments from stocks and ETFs, to forex and cryptocurrencies. Founded in 2013, it is operated by IQ Option LTD and regulated by the CySEC (Cyprus Securities and Exchange Commission). The brokerage has grown to over 48,000,000 registered users and over 1,000,000 daily transactions.
In this IQ Option review, I will help you decide whether or not this broker is right for you.
What Instruments Can Be Traded?
IQ Option offers a wide range of financial assets to be traded on the global market. Initially launching as a binary options broker, they now offer hundreds of CFDs (Contract For Difference). In general, these CFD’s are investing in price changes in various markets like forex, cryptocurrencies, stocks, and ETFs. However, some instruments are only available in certain countries.
All of the most popular currency pairs like EUR/USD, USD/CAD, and USD/JPY are available on with this broker. Currently, there are 50 currency pairs available to trade on IQ Option.
Unlike traditional crypto investing, IQ Option offers CFDs on 27 different cryptocurrencies including Bitcoin, Ethereum, Ripple, Bitcoin Cash and many more.
Available on the platform are countless opportunities to trade CFDs on over 100 top performing stocks. With low minimum investments, high leverage at up to 20:1, and a stock list of some of the best companies in the world, this market is full of opportunity.
In addition to stocks, ETFs or Exchange-Traded Funds are baskets of stocks that can be bought under one ticker. These assets can be traded with CFDs also. There are currently 25 ETFs available to be traded.
All options trading is only for traders outside of the European Economic Area, which includes all 28 countries of the European Union as well as Iceland, Liechtenstein, and Norway. Offered by IQ Option to these traders are various forms of options trading.
First, digital options, which allow you to, not only speculate the direction of an asset’s price, but also the extent to which it moves within a specified time period. These are risky assets but can produce returns up to 900% if the price reaches your target strike price.
Also offered by the broker are binary options. These assets allow traders to speculate the price direction of an underlying asset before the chosen expiration date, in order to gain up to 95% returns. These options contracts are available for various assets. For example, currency pairs, stocks, commodities, or indices are applicable.
Tools and Resources
Firstly, IQ Option is one of the few brokers that offers a unique, customized platform that is catered to the direct needs of their traders. With it’s very user-friendly and clean interface, it provides traders with a different feel that is outside the usual MetaTrader and TradingView setup. Additionally, the platform is available on mobile through the app version of their trading platform. Also worthy to note, the platform is available in 13 different languages.
Furthermore, there are 101 technical analysis tools and indicators to help traders spot trends and make informed investing decisions. Some of those include moving averages, alligator, Stochastic Oscillator, Awesome Oscillator, Volumes, Bollinger Bands, RSI, and many more.
Like many other brokers, this broker offers traders a chance to practice and develop their trading skills, as well as familiarize themselves with the platform, before putting real money into a live trading account. This is done by offering a demo account with unlimited access to a simulated trading account with $10,000. Uniquely, they requires no personal information or registry to acquire access to these accounts. Therefore, not even an email address is needed to gain access to incredible trading tools to practice as much as you can.
Research and Support
Inside the trading platform and broker website, are various research and assistance tools. For instance, news feeds, historical quotes, economic calendars, and video tutorials are at your disposal. Amazing support is also provided in response to any questions or inquiries you may have.
Deposits and Withdrawals
Live trading accounts require a minimum initial deposit of $10 USD/GBP/EUR. This small minimum deposit allows traders with smaller account sizes to avoid getting discouraged to start trading and get some skin in the game. Deposits do require you to provide account verification through various forms of identification. However, IQ Option offers numerous ways to fund your account like credit cards (Visa or Mastercard), wire transfers, as well as many E-wallets like Skrill, Maestro, and Neteller, to name a few.
The minimum withdrawal amount at IQ Option is $2. Withdrawals are initially processed as refunds, therefore, you must withdraw funds using the same method you used to deposit. Additionally, some methods may incur a small processing fee. Like deposits, withdrawals are only possible after identity verification for security and to prevent fraudulent activity. Although this process may take up to 3 business days, majority of withdrawal requests are processed within 1 business day, depending on your chosen method.
Countries NOT Accepted
Due to local restrictions and regulatory policies, IQ Option is not available for traders from the United States, Russia, Canada, France, Turkey, Belgium, Australia, Japan, Israel, Iran, Sudan, and Syria.
IQ Option welcomes traders from over 213 countries including, but not limited to, Argentina, Brazil, China, India, Indonesia, Ireland, Jamaica, Japan, Korea, Nigeria, Germany, Malaysia, Mexico, Netherlands, New Zealand, Pakistan, Saudi Arabia, Singapore, South Africa, Switzerland, Turkey, UAE, United Kingdom, and more.
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
Forex Solutions is run by one individual and is not a public corporation. This site is simply an affiliate marketing platform where I, as a seasoned investor, university economics student, and financial market enthusiast, share basic information about trading forex, as well as other financial instruments. My goal is to help as many new traders avoid getting stuck in a cycle of trying different things and giving up when it gets hard, while getting all this clickbait information thrown at you. These people simply flaunt their wealth and make trading/investing out to be something it truly is not, easy.
Truth is, this stuff is simple, but not easy. The basic premise of these markets makes complete logical sense and the concepts are fairly simple. However, the process of starting this stuff is not easy at all. You first are faced with too many options with brokers, tools, and resources that overcomplicate things. Again, my goal is to simplify these concepts and give you a wide range, yet meticulously selected group of brokers which I recommend to others. I make money by referring traders to these platforms and growing these brokers client bases. I am not I financial advisor and this is not financial advice.