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The WikiFX Score of this broker is reduced because of too many complaints!

IQ Option

Cyprus|5-10 years|
Market Making(MM)|Global Business|High potential risk|

https://iqoptions.co/lp/mobile/en/

Website

Rating Index

Influence

Influence

AAA

Influence index NO.1

Brazil 8.66

Surpassed 18.89% brokers

Biz AreaSearch StatisticsAdvertisingSocial Media Index

Contact

+13468009001
support@iqoption.com
https://iqoptions.co/lp/mobile/en/
Koutsoventi 8, Agios Athanasios, 4101, Limassol, Cyprus
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

Open Now

Disclosure

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Danger

MY SCM
2020-01-01

Warning

SG MAS
2017-04-07

Contact number

Chinese (Simplified)

+13468009001

Russian

+7 800 333 47 55

Thai

+6621040795

Spanish

+582127710472

Other ways of contact

Broker Information

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WikiFX Risk Alerts 2
Previous Detection : 2024-07-15
  • The number of the complaints received by WikiFX have reached 78 for this broker in the past 3 months. Please be aware of the risk and the potential scam!
  • The current information shows that this broker does not have a trading software. Please be aware!

WikiFX Verification

IQ Option · WikiFX Survey
Good A Visit to IQ Option in Cyprus -- Office Confirmed Existed
Cyprus

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    IQ Option · Company Summary

    IQ Option Basic Information
    Founded in 2013
    Registered Country/Region Cyprus
    Regulation CySEC
    Minimum Deposit $10
    Maximum Leverage 1:500
    Trading Instruments Forex, Stocks, Cryptocurrencies, Commodities, ETFs
    Trading Platforms IQ Option Desktop, IQ Option Mobile App
    Account Types Standard, VIP
    Deposits Credit/Debit Cards, Bank Transfer, Skrill, Neteller, WebMoney, Boleto
    Withdrawals Credit/Debit Cards, Bank Transfer, Skrill, Neteller, WebMoney
    Customer Support Email, Phone, Live Chat

    Overview of IQ Option

    IQ Option is an online trading platform that allows individuals to trade a variety of financial instruments including stocks, options, cryptocurrencies, forex, and more. The platform was founded in 2013 and has grown to become one of the most popular online trading platforms in the world, with over 48 million registered users across 213 countries and territories. IQ Option is owned and operated by IQ Option Ltd, which is based in Cyprus and is regulated by the Cyprus Securities and Exchange Commission (CySEC).

    The platform is known for its user-friendly interface, extensive educational resources, and low entry barriers for new traders. It offers a range of trading tools and features, including customizable charts, technical analysis indicators, and a range of order types, such as stop-loss and take-profit orders. Additionally, IQ Option offers a range of account types, including a free demo account for practice trading, as well as real accounts with different features and benefits.

    However, IQ Option has also received some complaints from customers regarding issues such as slow withdrawal processing times and account verification delays. It is important for traders to weigh the pros and cons of using IQ Option and to exercise caution when making financial decisions.

    basic-info

    Is IQ Option legit or a scam?

    IQ Option is a legitimate online trading platform that has been operating since 2013. It is regulated by the Cyprus Securities and Exchange Commission (CySEC) under the regulatory license number of 247/14. However, it is important to note that there have been some complaints and negative reviews about the platform, particularly regarding withdrawal issues and customer support. It is always recommended to do your own research and due diligence before investing with any broker.

    regulation

    Pros and Cons of IQ Option

    While the broker offers a regulated and user-friendly trading platform with low minimum deposits and a free demo account, it may not be suitable for traders who require a larger range of tradeable assets or support for specific payment methods. Additionally, some traders have experienced issues with withdrawal processing times and customer service, which may be a concern for those who prioritize timely and reliable support from their broker.

    Pros Cons
    Regulated by CySEC Limited range of tradeable assets compared to other brokers
    Intuitive and user-friendly trading platform, suitable for both beginners and advanced traders No support for MetaTrader 4 or 5, which may be a deal-breaker for some traders
    Low minimum deposit requirement of $10, making it accessible to all traders High fees for bank transfers and withdrawals
    Offers a free demo account with $10,000 in virtual funds for traders to practice and test strategies before trading with real money Limited customer support options outside of business hours
    Wide range of educational resources, including video tutorials, articles, and a blog Some negative reviews and complaints from traders regarding slow withdrawal processing times and customer service
    Multiple account types to suit different trading styles and preferences No support for popular payment methods such as PayPal and Skrill

    Market Instruments

    IQ Option offers a wide range of market instruments for trading including forex, stocks, cryptocurrencies, commodities, and ETFs. Forex trading includes major currency pairs, minor pairs, and exotic pairs such as USD/CNY, USD/INR, and USD/ZAR. Stocks trading includes a variety of popular companies such as Apple, Facebook, and Amazon. Cryptocurrency trading includes popular digital assets such as Bitcoin, Ethereum, and Litecoin. Commodities trading includes oil, gold, silver, and other metals. ETF trading includes various exchange-traded funds that track different markets such as the S&P 500, the Dow Jones, and the Nasdaq.

    products
    Pros Cons
    Wide range of instruments including stocks, forex, commodities, cryptocurrencies, and options Limited selection of underlying assets
    Availability of digital options and CFDs Limited availability of traditional options
    ETFs available High rollover fees for overnight positions
    Advanced charting and technical analysis tools Limited fundamental analysis tools
    Accessible trading through web and mobile platforms No access to futures markets
    High leverage options up to 1:500 High risk of loss due to high leverage

    Account Types

    IQ Option offers three main account types: the demo account, the standard account, and the VIP account.

    • Demo Account: This account is free to use and provides access to all the trading features on the platform. It is an excellent option for beginners who want to practice trading strategies without risking any real money.

    • Standard Account: This account requires a minimum deposit of $10 and offers a range of features including access to all tradable assets, 24/7 customer support, and the ability to participate in trading competitions. The standard account also offers access to training materials and webinars.

    • VIP Account: The VIP account requires a minimum deposit of $3,000 and offers all the features of the standard account, as well as additional perks such as a personal account manager, monthly trading reports, and exclusive access to certain trading instruments.

    Each account type comes with its own benefits and drawbacks, and traders should carefully consider their trading goals and preferences before selecting an account type.

    How to open an account?

    Opening an account with IQ Option is a breeze. Simply go to their website and click on the “Trade Now” button. You can then choose between a real account, where you can start trading with as little as $10, or a demo account, which is a risk-free way to practice your trading skills.

    open-account

    To sign up for a real account, you'll need to provide some personal information, including your name, email address, and phone number. You'll also need to select your preferred currency and choose a password for your account. Once you've filled in all the required fields, click on the “Register” button and you're good to go.

    open-account

    But before you can start trading, you'll need to verify your identity by submitting some documents, such as a copy of your passport or driver's license, and proof of address. This is a standard procedure for all regulated brokers and is designed to prevent fraud and ensure the safety of your funds. Once your account has been verified, you can make your first deposit and start trading right away.

    Leverage

    IQ Option offers variable leverage depending on the asset being traded and the account type. The maximum leverage offered by IQ Option is 1:500 for non-regulated clients and 1:30 for regulated clients. The leverage for Forex trading is also subject to regulation in certain regions. It is important to note that while high leverage can increase potential profits, it can also increase the risk of losses, so it is crucial to use it wisely and only if you have a thorough understanding of the risks involved. It is always recommended to start trading with lower leverage and gradually increase it as you gain more experience and confidence.

    Spreads & Commissions (Trading Fees)

    IQ Option operates on a commission-free trading model, meaning that the broker does not charge any fees for opening or closing trades. Instead, the broker earns its revenue through the spreads, which is the difference between the buy and sell price of a financial instrument.

    The spreads on IQ Option vary depending on the type of asset and market conditions, with major currency pairs like EUR/USD typically having low spreads starting from as low as 0.6 pips. However, spreads for other instruments like stocks and commodities tend to be higher.

    Non-Trading Fees

    In addition to trading fees, IQ Option also charges non-trading fees. Non-trading fees are fees that are not directly related to trading activities. For example, deposit and withdrawal fees, account inactivity fees, and currency conversion fees.

    IQ Option does not charge any deposit or withdrawal fees, except for wire transfer withdrawals, which incur a fee of $31. In terms of account inactivity fees, IQ Option charges an inactivity fee of $10 per month after 90 days of inactivity. This fee is relatively high compared to other brokers. Finally, IQ Option may charge currency conversion fees if you deposit or withdraw funds in a different currency from your account's base currency. The fee is usually around 2% to 3% of the total transaction amount.

    non-trading-fees

    Trading Platform

    IQ Option offers its propritary trading platform, which is available both as a web-based version and a mobile app, making it accessible to traders on-the-go. The platform offers a range of trading tools, such as technical analysis tools, historical quotes, and real-time market news, enabling traders to make informed decisions. It also offers a demo account option, which is beneficial for new traders who want to practice trading without risking any real money. Additionally, the platform is customizable, allowing users to adjust the layout to their preferences and choose from a range of different chart types.

    trading-platform

    Deposit & Withdrawal

    IQ Option offers a variety of deposit and withdrawal methods, including Visa, Mastercard, Perfect Money, and AdvCash. The minimum deposit amount is $10, and there are no deposit fees.

    Withdrawals can be made via the same methods used for deposits. IQ Option has a minimum withdrawal amount of 2 EUR/GBP, and a withdrawal fee of 2%, with a maximum fee of 25 GBP, 30 EUR/USD. However, it's worth noting that the withdrawal fee can vary depending on the payment method used.

    The processing time for withdrawals may vary depending on the chosen method, with some methods being processed instantly, while others may take up to 3 business days. IQ Option also offers the ability to withdraw funds using cryptocurrencies such as Bitcoin, Ethereum, and Litecoin.

    deposit-withdrawal
    deposit-withdrawal
    Pros Cons
    Multiple deposit options including VISA, Mastercard, and e-wallets like Perfect Money and AdvCash Limited options for withdrawing funds, with only bank transfers, credit/debit cards, and e-wallets available
    Minimum deposit requirement of only $10 Withdrawal fees apply, with a 2% fee charged for most methods and a maximum fee of $25, €30, or £25 depending on the currency
    Low withdrawal amount Some users have reported longer than expected withdrawal processing times
    No deposit fees Only one free withdrawal per month, with subsequent withdrawals subject to a fee
    Ability to deposit and withdraw in multiple currencies, including USD, EUR, and GBP

    Customer Support

    IQ Option offers multilingual customer support via email, social media platforms such as Facebook, Twitter, and Instagram, and live chat. However, there is no dedicated FAQ section on the website for customers to browse through common questions and answers.

    IQ Option's customer support team is available 24/7 to assist with any queries or issues that traders may encounter. The support team is known for being responsive and helpful, which is a positive aspect of the broker.

    However, the lack of a comprehensive FAQ section on the website could be a downside for traders who prefer to find solutions to their problems independently. It would be beneficial for IQ Option to add a dedicated FAQ section on their website to enhance the customer experience.

    customer-support
    customer-support

    Educational Resources

    IQ Option does offer educational resources to its traders. The broker provides a section on its website dedicated to educational resources, including tutorials, webinars, and trading strategies. These materials are designed to help traders of all skill levels improve their knowledge and skills in trading.

    Additionally, IQ Option has a blog where it publishes market analysis and news related to trading. This can also be a helpful resource for traders to stay up to date with the latest market trends and news.

    Conclusion

    While IQ Option has some advantages such as low minimum deposit and high leverage, it also has some drawbacks such as limited educational resources and a history of customer complaints. The trading platform is user-friendly and offers a range of features, and the customer support team is available in multiple languages.

    FAQs

    • Q: Is IQ Option regulated?

    A: Yes, IQ Option is regulated by the Cyprus Securities and Exchange Commission (CySEC).

    • Q: What is the minimum deposit required to open an account with IQ Option?

    A: The minimum deposit required to open an account with IQ Option varies depending on your location and the type of account you choose. In general, it ranges from $10 to $3000.

    • Q: Does IQ Option offer a demo account?

    A: Yes, IQ Option offers a free demo account with virtual funds to practice trading strategies and test the platform.

    • Q: What trading instruments are available on IQ Option?

    A: IQ Option offers a range of trading instruments, including Forex, stocks, cryptocurrencies, commodities, and options.

    • Q: What is the maximum leverage offered by IQ Option?

    A: The maximum leverage offered by IQ Option is 1:500.

    • Q: What are the trading fees on IQ Option?

    A: IQ Option charges a spread on trades, which is the difference between the buy and sell price. There are no commissions or hidden fees.

    News

    Be Aware of IQ Option – An Obnoxious Entity To Trade With

    NewsBe Aware of IQ Option – An Obnoxious Entity To Trade With

    2023-02-17 13:52

    Would you say that your broker has ripped you off?

    WikiFX
    2023-02-17 13:52
    News
    Be Aware of IQ Option – An Obnoxious Entity To Trade With
    Be Aware of IQ Option – An Obnoxious Entity To Trade With

    NewsBe Aware of IQ Option – An Obnoxious Entity To Trade With

    2022-12-08 09:21

    Would you say that your broker has ripped you off? If so, then you're certainly not alone.

    WikiFX
    2022-12-08 09:21
    News
    Be Aware of IQ Option – An Obnoxious Entity To Trade With
    Beware of IQ Option: A Regulated Broker Thas Has A Lot Of Scam Complaints

    NewsBeware of IQ Option: A Regulated Broker Thas Has A Lot Of Scam Complaints

    2022-10-10 10:47

    IQ Option (https://iqoption.com/en) was established in St. Vincent and the Grenadines in 2013. The firm, which began as a binary options broker, has now expanded its activities to cover retail forex, commodities, equities, indices, ETFs, and cryptocurrency trading.

    WikiFX
    2022-10-10 10:47
    News
    Beware of IQ Option: A Regulated Broker Thas Has A Lot Of Scam Complaints
    WikiFX Review: Beware of IQ Option, who was suspected fake clone!

    ExposureWikiFX Review: Beware of IQ Option, who was suspected fake clone!

    2022-09-19 14:03

    Another fraudulent forex broker has been exposed by an investor!

    WikiFX
    2022-09-19 14:03
    Exposure
    WikiFX Review: Beware of IQ Option, who was suspected fake clone!

    User Reviews

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    User comment

    57

    Comments

    Write a review

    Daniel López
    0-3months
    Yunno with the way this broker is affordable you would think the features and services provided will be below standards but surprisingly they even superseded my expectations, love how cost effective the platform is while still providing value. 😍
    2024-06-19 21:18
    Reply
    0
    0
    Felipe Souza
    0-3months
    Support specialists broke down withdrawing process to me recently. Actually there are no serious intricacies, I just couldn't understand how the commission is calculed ;D Thanks, guys.
    2024-06-04 18:33
    Reply
    0
    0
    Abdul Fatema
    0-3months
    According to my experience of trading with this company, I got to say that there are certain highlights, such as proprietary trading engine in the form of trading platform where all instruments are available. One can even chat with fellow traders easily through the option of live chat embedded in the platform. Here are also market analysis, tools for technical analysis such as indicators and many other stuff. That is the reason why I consider iq option the broker which can cover the needs of any trader. I trade on the platform with pleasure, amplify profits and cut losses ;)
    2024-04-16 20:31
    Reply
    0
    0
    Som Sagnik
    3-6months
    This is a worldwide broker that offers different financial services. There are many instruments available for trading. I like trading stocks and IQ option provides many american stocks from top companies. The trading conditions are pretty good. There are low spreads, cheap swaps and accessible leverage up to 1:20. I can also make deposits and withdrawals through various financial payments and it is really convenient for me and transactions are fast. The trading platform is multifunctional but to be honest it was hard to adapt to it. In general, I recommend this broker to you guys!
    2024-04-09 01:52
    Reply
    0
    0
    el antiguo
    3-6months
    It is unfortunate not to be able to withdraw the money invested, every time I try my account "goes under review" the last time it took them a month to release some profits. Be careful. It is not reliable.
    2024-03-18 21:06
    Reply
    0
    0
    Luu
    3-6months
    This brokerage is quite reputable. I can easily change my forex and options trading style right on one platform. Additionally, the customizable platform is also a plus for this trading software. I feel completely satisfied with what this trading platform provides. Should I recommend it to everyone? In my opinion, this platform is more suitable for beginners, but experienced investors will find it still has some limitations!
    2024-03-15 18:17
    Reply
    0
    0
    Karim6340
    3-6months
    Not extremely an efficient design, but it will do. They have a lot of tools that I like to use so I will stick with them. And besides, they offer traders options trading as well as the normal CFD trading.
    2024-03-01 19:59
    Reply
    0
    0
    qmhaniym
    3-6months
    The tournaments' are something that you have to experience. It feels like a lot of pressure/ when you see the performance of other traders. However, I saw myself become a lot more efficient than I have ever been. I spent a lot more time on my computer trading, but it was totally worth it.
    2024-01-16 21:05
    Reply
    0
    0
    Than Vinh
    6-12months
    yo, mates, I decided to write this iq option review only because I have recently withdrew funds from the platform and I am ready to share general impression of the company. so... no time to beat around the bush - the platform is lit! I was eagerly waiting for my cash that I requested for withdrawal and read different feedback from customers about the broker. all of them were favorable. so mine one is too. trading here is full of pleasure for me as the stability of the platform is enviable. and it's custom, you dig? surprising miracle in the wolrd of trading for me.
    2023-12-22 01:14
    Reply
    0
    1
    Thorm Plainukool
    6-12months
    Stability, integrity and performance. These are three words popping up in my brain about this firm.
    2023-12-21 17:42
    Reply
    0
    0
    Kee Peng
    6-12months
    This platform is rather ordinary, but this is apparently its advantage. Simplicity hides the possibility of more operational use.
    2023-12-07 16:34
    Reply
    0
    0
    Roger1745
    6-12months
    Registering a real trading account with IQ Option is quick and easy. The minimum deposit required is affordable and this broker is doing a great job in making trading accessible to everyone.
    2023-11-26 21:12
    Reply
    0
    0
    keidngamphring
    6-12months
    Impressive amount of crypto assets. Leverage is not that high though.
    2023-10-31 20:43
    Reply
    0
    0
    Somchai.R
    6-12months
    The only thing I'm missing here - Metatrader. I wish I had the opportunity to trade on it with the conditions IQ option broker offers, because the number of assets and various tools is impressive.
    2023-10-05 23:33
    Reply
    0
    1
    alexandre140
    6-12months
    There is no reason to be depressed if your trading journey is not going brilliantly okay. IQ Option may not be able to give you clear signals or 100% working strategies, but surely they will give you a powerful and secure platform, on which you will educate yourself and be able to do good trades with high profitability. So cheer up, it's not that bad.
    2023-09-25 01:34
    Reply
    0
    0
    ดนัย เที่ยงธรรม
    6-12months
    It's a good trading platform. Just had a chance to try IQ option closely, the platform works pretty well!
    2023-08-23 18:14
    Reply
    0
    0
    Lightning252
    more than one year
    Personally I have only made one withdrawal, you must be fully verified to the teeth, I probably didn't get in trouble because I invested so little that my profits were equal, and of course it was my first withdrawal. So far it hasn't worked badly for me (of 10 I converted them x4). About the withdrawal everything came to me, and I withdrew through Skrill, but from what I see, the problem is either already solved, or it simply does not affect the first withdrawal/small withdrawals.
    2023-07-14 12:34
    1
    0
    0
    寻梦5177
    more than one year
    The minimum deposit is only $10, which is a really friendly price. But I noticed that it does not provide the two mainstream payment channels of skrill or neteller.
    2023-03-01 10:36
    Reply
    0
    0
    FX1213894772
    more than one year
    Stay clear of this company. All of our currency pair positions have been forcibly closed with only 3 days, no help or advice from support team. Not to be trusted!
    2023-02-17 11:15
    Reply
    0
    0
    DUVERSOTOROJAS
    more than one year
    **** liar! I've been scammed out of $30,000 and I'm shocked to find out on wikifx that this company has scammed many more! Why hasn't their website been suspended yet?
    2023-02-16 14:25
    Reply
    0
    0
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    ※ The content of this website abides with local laws and regulations.
    You are visiting the WikiFX website. WikiFX Internet and its mobile products are an enterprise information searching tool for global users. When using WikiFX products, users should consciously abide by the relevant laws and regulations of the country and region where they are located.
    consumer hotline:006531290538
    Official Email:support@wikifx.com;
    Mobile Phone Number:234 706 777 7762;61 449895363
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    License or other information error corrections, please send the information to:qawikifx@gmail.com
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