IQ Option Analysis and Opinion

IQ Option –founded in 2014– is currently one of the most popular trading platforms among users, among other things, due to its variety when choosing what to trade with: Forex, stocks, cryptocurrencies or binary and digital options.

To this must be added the fact that it allows you to start operating without putting your assets at stake, that is, with a free demo account . A really interesting possibility for those who are not very knowledgeable in the matter. At FXbypro we recommend resorting to regulated brokers and, if you are a newbie, start with no money. Do not be able to crave: it is better to be patient and then reap what you have sown.

Regulation and licensing

Is IQ Option a scam? No, IQ Option is not a scam . If you are thinking of operating with this broker, the logical thing is that you do what we all do: “Google it”. Then you will see that many pages appear in which the legality of this trading platform is questioned. At FXbypro we have analyzed it and we want to clarify it for you. One of the arguments used to suspect that its operation is illegal is the fact that it is made up of two companies . But there is an absolutely simple explanation for this: geography.

We explain ourselves (and we will be very honest):

• IQ Option Europe Ltd : is in charge of managing the operations of the IQ Option platform for Europe. It is based in Cyprus and is regulated by the Cyprus Securities Market Commission (CySEC).
•  IQOPTION LLC – handles operations in the rest of the world, is based in Saint Vincent and the Grenadines and is unregulated.

Therefore, IQ Option has been a CySec regulated broker since 2014 and its license number is 247/14. Being legally protected by this Cypriot institution, it is perfectly qualified (from a regulatory point of view) to operate in the rest of Europe and for this it must follow the legal guidelines and regulations that said body imposes. Without any fear of being wrong, we affirm that IQ Option is not a fraud.

Asset offering on IQ Option

In total, there are just over 100 financial assets available on this platform. Among them are the most commonly requested such as:

• Forex : with IQ Option you can access the largest currency market in the world and the one with the most liquidity. Profits (or losses) will be derived from the difference between the purchase price and the sale price of the chosen currency.
• CFD Shares : CFDs (Contracts for Difference) allow you to trade with fluctuations in the price of shares. It doesn't matter if it goes up or down, when trading CFDs you can benefit from any market movement.
• Cryptocurrencies : You can also trade cryptocurrencies on IQ Option, which is logical given the true passion that has been unleashed in recent years regarding cryptocurrencies.

If you want to see the complete list of assets available on this broker's trading platform, we recommend you visit IQ Option . To do this, you just have to click on the button at the top.

IQ Option trading platform

The IQ Option trading platform can be accessed and traded from the web, with no download required. But if you want to always carry it with you, you can download the app available for iPhone and Android that will allow you to carry out your operations on IQ Option from mobile devices.

In the download section there are options for computers and mobiles: in the case of Mac it is compatible with the OS X operating system; if it is Windows it works with 7, 8, 8.1 and 10. The perfect thing would be to have 4 GB of memory – but with 2 it is usually enough – and a little more than 17 megabytes of disk space. Make sure you have this space before installing your trading app.

Available platforms

IQ Option commissions

As with other trading platforms , IQ Option charges some trading commissions . We review the most common:

• Spread : it is the difference between the purchase price and the sale price, therefore, it is variable and will depend on the conditions of the market in which you operate and the price of the chosen asset.
• Nightly rates : if you want to keep your positions open overnight, you will have to pay a small commission for it.
• Withdrawal : When withdrawing funds by bank transfer there is a fee of $ 27. Take this into account when choosing your withdrawal method.
• Inactive account : after 90 days without having made any movement in your account, it will be classified as inactive and you will be charged an amount of 50 euros per month that will be subtracted from your balance. This charge will never exceed the total balance.

The commissions Option IQ are reasonable but are above those charged by other brokers.

IQ Option Demo Account

At FXbypro we recommend (especially if you are new to the world of online trading) to start trading without real money . IQ Option gives the option of opening a free demo account for which you only need to register on its website. Once you have done it, you will receive 10,000 virtual dollars so that you can get practice without using real money. Try it “fake” until you are ready to play it “for real”.

Deposit and withdraw funds

The minimum deposit at IQOption is $ 1 and the maximum is $ 20,000 . However, there are several deposit methods with different characteristics:

• Card (Visa or Mastercard), Skrill, Neteller, WebMoney and PayPal : the minimum deposit is 10 EUR, 10 GBP or 10 USD and the transaction is done instantly.
• Sofort : Minimum deposit of EUR 10, GBP 10 or USD 10 and between 1 and 5 minutes to complete the process.
• Bank transfer : minimum deposit of 10 EUR, 10 GBP or 12 USD and 3 to 5 business days to complete.

A good offer in terms of payment methods is something to take into account when deciding to work with a broker and IQOption is a good option in this regard. Make sure to review all the available payment methods before you start trading as these may vary depending on your place of residence. This mainly affects electronic wallets.

Conclusions and opinion about IQ Option

• Most importantly: IQ Option is a reliable broker , like all the ones we recommend at FXbypro. It is not a scam or scam. Spanish traders should know that the Spanish subsidiary of IQOption is regulated by CySEC.
• The offer of assets is interesting, although not excessively wide compared to other brokers.
• The design is one of its strengths: it facilitates navigation and simplicity when it comes to trading thanks to its intuitive trading platform.
• The educational offer leaves something to be desired, although the option of being able to practice with a free demo account is very remarkable.
• This broker has reached a remarkable level of popularity that translates into millions of trading accounts opened on its website and from a large number of countries.
• A positive aspect is the low minimum in terms of initial deposit , which is perfectly suited to the needs of retail investors.

Finally we would like to mention the risk notice of this broker: CFD service. Up to 80.6% of retail clients lose money with this broker. CFDs are complex instruments that carry risks of losing money due to leverage.