IQ Option is a popular choice among novice traders since no more than a 10 USD deposit is required to get you started with a real-money trading account. It is also possible to make small trades on this platform; some of the binary options cost no more than 1 USD.
If you don’t want to log in separately to the platform, you can use Facebook or Google+/Gmail to log in.
A negative aspect of IQ Option is that it chiefly focuses on classic binary options. If you are looking for more exotic varieties, there are other sites that are better.
IQ Option was launched in 2013, but back then it was only available in Russian. Today, the platform is available in several other language, including English, French, Spanish, Swedish, Norwegian, and Chinese.
IQ Option is owned by a Cypriot company licensed by the Cyprus Securities Exchange Commission (CySEC).
Bonus
Welcome bonus
Standard welcome bonus: 80% bonus on your 1st deposit
Special welcome bonus: If you first deposit is 1,000 USD or more, you get a 100% welcome bonus
Loyalty deposit bonus
Standard account: Plenty of time-sensitive offers that will give you up to 80% bonus when you make a deposit
VIP account: Bonus on each deposit (maximum is 100% bonus)
Cash back
Standard account: Maximum 45% cash back
VIP account: Maximum 60% cash back
Available account types
Demo Account
This is an account where you make play-trades using play-money. No deposit is required to open and use a demo account at IQ Option. The demo account is a great way to learn about the platform and try out different trading strategies without risking any real money.
Standard Account
This is a real-money account. You only have to make a 10 USD deposit to get a Standard Account with IQ Option, which is a much lower threshold than for most of the competitors. IQ Option is therefore a popular choice among novice traders who want to try out binary options trading without having to make a big deposit.
- 80% deposit bonus
- Up to 45% cash back
- Withdrawal requests are processed within 3 days
VIP Account
- This is a real-money account available to clients who make a deposit of 1,000 USD or more.
- Deposit bonuses can be as high as 100%
- Up to 60% cash back
- Withdrawal requests are normally processed with 24 hours.
- Personal manager contact
- Monthly analysis of your trading
Trading platform
IQ Option has their own proprietary trading platform, developed specifically for them. The platform is browser-based; there is no downloadable client available.
The platform is easy to use, especially if you focus on the basic features first. When you feel more comfortable, you can start exploring the more advanced features. It is for instance possible to keep four diagrams open simultaneously in the same window.
Technical analysis
Technical analysis tools are included in the platform, including tools for utilizing Bolling Bands, MA and RSI. Trend warnings are shown in real-time.
Social interaction
It is possible (but not mandatory) to interact with other traders on the IQ Platform. You can for instance select certain traders and follow them to see what they are buying and if they are making a profit. If you like a particular trader, you can copy his or her trading.
If you don’t want other traders to see your trades, refrain from activating your networking profile.
Mobile trading apps
The IQ Option App for iOS is found in Apple’s App Store, while the IQ Option App for Android can be downloaded from Google Play. Both apps work fine with phones as well as tablets.
Bingary option types
IQ Option is a great choice if you’re looking for classic binary options of the higher/lower type. For other types of binary options, the selection is pretty limited.
Underlyings
- IQ Option is a good place to trade in binary options based on currency pairs. The selection includes both official exchange rates and certain over-the-counter rates.
- The selection of indices as underlyings is pretty poor compared to what you can find at some other binary option sites online. At the time of writing, there are only six different indices to chose from. Three of them are focused on North America and three on Europe.
- The selection of commodities as underlyings is limited to gold (XAU) only.
- When it comes to shares/stocks, IQ Option has an excellent selection and the geographical diversification is great. The offer includes shares traded on exchanges in Europe, Asia and the Americas.
| Examples of underlying shares |
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| Examples of underlying currency pairs |
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Banking
Deposits: Minimum deposit is 10 USD
Withdrawals: With a standard account, withdrawals are typically processed within three banking days. VIP accounts enjoy faster processing.