Offers and New Customer Experience - Trading competitions for all users
Our IQ Option review discovered that this broker no longer offers any deposit bonuses. However, they do have a trading competition every month that users can enter. Prizes range from $100 to $100,000 and only require an entrance fee.
Usability - Incredibly beginner friendly
Navigating through the IQ Option platform was pretty efficient and straightforward. Our IQ Option review outlines what features this broker has that makes it stand out from the rest and why it’s a great trading choice. They have popular and advanced trading indicators like moving averages, moving average convergence divergence (MACD) and the Relative Strength Index (RSI) available.
IQ Option is an advanced technology platform that is known to handle high volume trading times. This is good to consider if you prefer day trading, which this platform is ideal for. Certain trading hours can reach their peak, and anything could change the market, like news announcements and product releases. So it’s essential to stay on top of that information using the market news tabs and calendar available on IQ Option.
| Company |
IQ Option Europe Ltd |
| Headquarter |
Hinds Building, Kingstown, St. Vincent and the Grenadines |
| Year of Founding |
2013 |
| CEO |
– |
| Website |
eu.iqoption.com |
| Available Languages |
English, German, French, Italian, Spanish, Russian, Dutch, Swedish, Portuguese |
| Customer Support |
Phone, Email Support |
| Email |
support@eu.iqoption.com |
| Phone |
– |
| Licence |
247/14 |
 |
| Verified by |
– |
| Payment Methods |
|
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Accounts - An unlimited practice account available
Our IQ Option review found that they offer three types of accounts to their users: the free practice demo account, the standard account, and the VIP.
The standard account
If you’re thinking of opening an account with IQ Option, there is a minimum deposit of the equivalent of $10, approximately 741 INR. It is a live account, so you’re putting your real funds into the market. It’s an excellent way for users, particularly beginners, to test the waters with small investments and work their way up to more significant transactions once they feel comfortable.
The practice account
A free practice account is an essential tool for any trader, whether beginner or experienced. Established online brokers should be able to offer you a demo account to allow you to practice your trading techniques. At IQ Option India, you’ll be able to try their online platform features and be given $10,000 virtual money to use towards the different financial markets available, including forex and cryptocurrencies. However, you can’t transfer it into real funds, but you can utilise the platform and mimic strategies on the standard account if they prove successful.
The VIP account
The last account is the VIP trading account that is suited towards more prominent investment traders. You would need to have a minimum deposit of $1900 or your chosen currency equivalent. You’ll also get access to perks that aren’t available on the standard accounts, like expert training resources and faster payout options.
In our IQ Option review, we researched what the trading platform offers and was impressed by the resources and tools IQ Option has for its users. The online trading platform is very user-friendly, which is excellent for new traders. It has a great layout design and a simple-to-use interface.
The platform has tools that include technical analysis, economic calendars, market updates and multi-charts too. These tools are perfect for helping develop your trading skills and improve your IQ Option experience and rating by working out trends and finding the right time to execute trades that result in returns. IQ Option is available in 13 languages also, which is great for global traders.
Choice of financial instruments
IQ Option allows you to trade several financial markets and their assets. Markets include the stock market, forex, ETFs, cryptocurrencies, binary options (subject to restrictions) and other commodities. You can trade multiple assets at once, which is excellent, allowing you to monitor the markets and react in real-time.
Mobile app
We also found out in this IQ Option review that the platform has a free to download mobile app. The app is available on Android and Apple devices with a clean interface that mimics the desktop platform regarding trading tools and support for its users. Like other popular trading platforms, the mobile app is great for those who like to trade on the go and want the flexibility to do so.
Trading Payments - Minimum deposit required to start trading
We researched IQ Option India and found that a minimum deposit of $10 up to $50 or the equivalent in INR is needed to trade with the standard account. Compared to other reliable online platforms, our IQ Option review found this deposit quite competitive, which is great if you’re still unsure how much to invest. There are a few ways you can deposit and withdraw money when trading, and we’ve included them below.
Depositing funds
You have a few options to choose from when putting funds into your account. Each method has a different processing time, so this is good to consider if you want faster payments or don’t mind waiting longer. These payment methods include using a debit or credit card like Visa, Mastercard and Maestro, or PayPal.
You can also deposit funds using a bank transfer or electronic wallets, including Skrill, WebMoney and Neteller. We couldn’t find any deposit fees in our IQ Option review, but you may be subject to a charge from your bank, so double-check that before transferring funds.
Withdrawal fees
Similar to deposits, you can also use these payment methods when withdrawing funds. There are no limits or minimum amounts to withdraw, and requests usually take one business day to process. If you choose to use an electronic wallet, the processing time could be considerably faster as it’s known to transfer the funds into your account in a few hours. There are no withdrawal fees like depositing funds, but you may be charged if you use the bank transfer method, depending on your bank and trading location.
Fees – Inactivity fees after 90 days
Our IQ Option review looked at the fees that users would be subject to and included them below.
Commission fees
Unlike other online brokers, IQ Option does charge commission fees on some IQ Option crypto trades of 2.9%. Luckily, the fee does not apply to any other asset as they have the forex and stock markets available to trade too. It’s a good thing to consider if trading cryptocurrencies were your first choice.
Spreads
Our IQ Option review found that this broker does offer competitive spreads (the difference between the buy price and the sell price of an asset). It can change per asset and financial market due to how volatile your positions are or how liquid the market is. It can also change due to the time of day if the volume of trades is more or less in the market.
Overnight fees
Also known as swap fees, these charges can vary from 0.1% to 0.5% if you decide to keep positions open overnight. The charges can increase when positions are held over the weekend also. Some trading strategies benefit from holding positions overnight as the next trading day could prove quite lucrative. However, if you’re into day trading, you focus on making a profit by the end of the day and starting again tomorrow. It all depends on what style of trading you prefer.
Inactivity fee
If your account is dormant for 90 days consecutively, a fee of $10 or the equivalent in your chosen currency will be deducted. This is the standard timeframe for most online traders, so it’s essential to watch out if you’ve not been using your account regularly.
Customer Service - 24/7 customer support available
At TradersBest.com, we looked at the customer support offered to IQ Option users. We found that they have several options of contact for customers like the 24/7 telephone support. These are available in four languages including, English, Italian, Spanish and Portuguese.
The outcoming calls are charged at different tariffs in India, depending on your telephone operator, compared to another country. Still, the option is there if you want to speak to someone. In addition, if you want to speak to someone in your native language, you can request if that is possible with the support team.
Multilingual
Another excellent point to note in this IQ Option review is how their customer support is multilingual. Again it is available 24/7 worldwide with the help of their email option too. You can also reach their team on social media platforms like Facebook, Twitter, Instagram and Telegram. The response time is usually longer if you’re waiting for an email than the apps, where responses are known to be relatively rapid. Overall, IQ Options’ response time is known to be an average of 1 minute, depending on your chosen support method. But this speedy response is what makes it a popular online broker choice.
Regulation and Deposit Insurance - IQ Option is well regulated globally
IQ Option is a reliable platform due to its well-respected regulator. It is licensed by CySec (Cyprus Securities and Exchange Commission) for its European jurisdiction. It is fully legal in other parts of the world as it accepts international clients like India. At this moment, there are no restrictions or bans for traders coming from India or other parts of Asia, even though it isn’t regulated by SEBI (Securities and Exchange Board of India).
However, this shouldn’t cause any concern to potential users as our IQ Option review has looked at how this is a credible broker. IQ Option believes in protecting its users’ funds and going through the correct measures to do so.
Worldwide Register
We found that IQ Option is EEA authorised, meaning it can offer its users certain products and is registered by several authorities, including the FCA (Financial Conduct Authority) in the United Kingdom. Consob (Commissione Nazionale per la Societa e la Borsa) for the Italian financial markets. CNMV (Comisión Nacional del Mercado de Valores) for Spain. The Regafi (Financial Agents Register) is operated in France.
The AFM (Autoriteit Financiële Markten) is responsible for the financial markets in the Netherlands. The EST: Finantsinspektsioon which is regulated in Estonia, and the ČNB (Česká národní banka) of the Czech Republic. These are the key regulators that are specified on the IQ Option platform.
What is IQ Option? IQ Option is a successful online trading platform. It has continued to grow with the financial markets and use more advanced technologies to enhance the user trading experience. Our IQ Option review shows that they want traders to use an improved functionality service and comfortability when executing trades.
Using their tools and practice account will also help you improve your trading skills no matter how long you’ve been trading before. Ultimately, IQ Option wants you to invest in yourself and your techniques to become a more confident trader and benefit from the time and effort to perfect your skills.
