Wanna see if IQ Option is a legit broker? Is it safe to trade? The spread is high or low? How to deposit or withdraw?

We provide answers to all the questions in this IQ Option Review.

We checked IQ Option licenses and regulation status and check if IQ Option scam or safe. Compared IQ Option fees like spread & commission from its live account to other 150 brokers. Also the time for deposit & withdrawal and many more findings in this Review.

What is IQ Option

IQ Option is a Forex and CFD broker, founded in 2013 with various trading instruments and assets in its offering and focus mainly on the binning traders.

However, even IQ Option is Cyprus-owned company its trading environment is based in offshore St. Vincet and the Grenadines – not regulated by the top-tier financial authorities location.

IQ Option Highlights

🗺️ Regulated inCyprus but based in offshore SVG
🛡️ Is IQ Option safe to tradeNo
💵 EUR/USD spread1.4 pip
🏦 Deposit
Alipay, Credit Card, MoneyGram, Perfect Money, QIWI, Skrill, Wire Transfer, Yandex Money
💰 Minimum depositUS$10
🏦 Withdrawal
Alipay, Credit Card, MoneyGram, Perfect Money, QIWI, Skrill, Wire Transfer, Yandex Money
💻 Trading platformProprietary Web Platform
💳 Trading markets
Forex, Cryptocurrencies, Binary Options, ETFs, Stocks, Digital Options
📈 Number of product225
📉 Live chat responseRelevant answers


License and regulation are the keys to traders’ fund security. There are two factors to be checked, what licenses the broker carries and how trader is protected if something goes wrong.

Is IQ Option legit

IQ Option is a registered CySEC company regulated according to ESMA rules.

However, the IQ Option rights and operation is done through offshore St. Vincent and the Grenadines that does not provide proper standards to safe trading environment.  

IQ Option Licenses and Regulatory status

EntityRegistered inRegulatorLicense no.Status
IQOPTION LTDSaint Vincent and the Grenadines â€“24840 IBC 2018Registered no regulations
IQ Options Europe LtdCyprusCyprus Securities and Exchange Commission (CySEC)247/14Registered

Is IQ Option safe

No, we consider IQ Option not safe because it is mainly operating through offshore SVG entity.

IQ Option operates through two entities, and despite its regulation by CySEC mainly the broker opening worldwide accounts via its SVG entity with no aligned serious regulatory measures. The matter of entity apply specific regulations, restrictions, overseeing and protection.

Besides, the Board of CySEC timely warmed investors about non-compliance of the IQOPTION LTD, a sister company based in SVG.

IQ Option Compensation Scheme

EntityCompensation AmountNegative Balance Protection
IQ Options Europe Ltd€20,000Yes
IQOPTION LTDNo compensationNo

We recommend registering your account with the Cyprus entity, if it’s available for you and avoid SVG IQ Option trading

IQOption LTD does not provide negative balance protection and necessary trading safety measures for traders, thus there is no coverage in case of insolvency.

IQ Option CySEC license
IQ Option Review – CySEC register

Markets and Products

At IQ Option you can trade popular assets like Forex Currency Pairs, CFD Stocks, Commodities, ETFs, Cryptocurrencies and Indices.

Binary Option

IQ Option trading offer Digital Option, which are the same as Binary Option a popular instrument in offshore brokers proposal. Yet, highly risky instruments not recommended by regulators since the direct counterparty is broker.


Account types

IQ Option offers a Single Account available in GBP, EUR, USD, Yuan, MYR, IDR, and RUB as account base currency.

Higher account balance will enable VIP status with extra benefits like trading promotions, monthly report, additional returns, etc.

There is no detailed information about the account conditions.

IQ Option Login
IQ Option Review – Login

Sign In

The best way to Sign in IQ Option you go to sign-up page and follow its step-by-step procedure if it is available to you. You can use Facebook or Google accounts, or fill your name, email, address and phone number.


Login IQ Option click on the login page, fill in the details and proceed with the necessary confirmation.

Fees and commissions

IQ Option Fees we ranked as average based on the instrument and compare to 150 brokers that we check through Live account spread.

Spread we collect for popular instruments, 6 markets and 150 brokers

ForexEUR/USD0.1-0.91-1.51.6 or higher
IndicesUS S&P5000.75-1
ETFsUS Russell 2000


IQ Option costs are built into a percentage commission charged on the opened position, plus overnight fees.

The Forex minimum commission starting from 0.005% for EURUSD plus rollover and Fixed Time or binary option trading is non commission but a trading where you either loose or win full stack amount.

Comparing the spreads derived from Live Account to industry benchmarks, we found IQ Option Live spread on Forex are average while Stocks and Cryptocurrency fees are high.

MarketsInstrumentsIQ Option SpreadOther brokers’ avg spread
IndicesUS S&P5000.026%
ETFsUS Russell20000.04%

Other Fees

IQ Option has low non-trading fees. Deposits and withdrawals are free of charge.

Trading Conditions

IQ Option trading conditions are good, you can deploy any strategy of your choice including hedging and scalping.

Trading ConditionsYes/No
Hedging AllowedYes
Scalping AllowedYes
Change Leverage AllowedYes

Hedging – there are no time limitations for keeping hedging positions.

Scalping is allowed with no restrictions, but there is no MT4 offered so no Expert Advisors (EAs) and VPN available.  


There is no restriction on use of specific practice, yet offshore brokers do not restrict strategies since do oblige to international measures to protect trades.

IQ Option allowing very high leverage ratios to its instruments up to 1:1000, considered extremely risky. European clients though entitled to restricted 1:30 due to regulations and risks involved.


IQ Option claims it has no deposit fees, but may exclude third party fees. 

You can use Credit or Debit cards, advcash and Perfect Money with 0% commission.

From the cons bank transfer is not clear if available.

Deposit MethodFunding TimeFee
Credit CardInstantFree
Perfect MoneyInstantFree
IQ Option Deposit
IQ Option Review – Deposit and withdrawal – Deposit

Minimum Deposit

The Minimum deposit amount is 10$ or 10 € or 700 RUB.


IQ Option add no fees for withdrawal, but similar to deposit may subject third party providers fees. Funds are withdrawn using the same methods as deposits and claims withdrawal processing within 3 days as maximum.

We found some evidence and complains from the traders who had difficulties to withdraw funds.

Withdrawal MethodWithdrawal TimeFee
Credit CardUp to 3 business days0$
advcashUp to 3 business days0$
WebMoneyUp to 3 business days0$
Perfect MoneyUp to 5 business days0$


IQ Option is very generous with Bonus, usually runs some promotions, rewards upon the account opening, etc. All available for non-EU clients.

At the time of writing, we found no-deposit promotion for Binary trading and 70% off promo. In fact, offshore brokers offering bonuses and using them as a marketing tool so be sure to verify all trading conditions.

IQ Option Review - Bonus
IQ Option Review – Bonus

Trading Platform

IQ Option mainstays on its own proprietary software, there is no MT4 or other popular software available.

IQ Option Platform is Web Based, an easy to use and navigate software accessible across any devices. There is desktop platform for Windows or Mac as well, where we found access to trading of all instruments and full customization of the trading environment.


IQ Option Robot is an automated trading robot developed for its proprietary platform known as IQ Bot. IQ Bot is free of charge and can be also tested in a Demo account before start trading.


Android and iOS Mobile App comes in the package with the option to trade on the go and simple analysis features.  

IQ Option Review – Web trading platform
IQ Option Review – Web trading platform

Research and Tools

IQ Option provides good research tools including Economic Calendars, Oscillators, Market Analysis, News Feed inbuilt into the platform and Crypto Digest.

We found extended range of tools inbuilt in the platform with Sentiments, Trend Indicators and analysis tools.

On the flip side there is no third party and top research materials offered, all is in-house made.

IQ Option Research tools available via:

  • IQ Option trading platform
  • IQ Option Education section
IQ Option Research
IQ Option Review – Research


IQ Option education provides Trading Videos, Webinars and tutorials divided by the topic and category.

We admit Trading Videos very high quality and good explanation, easy to navigate category for different levels. Another great addition is regularly held IQ Option Tournaments and Contests.

From the downsides there is no Technical Analysis and Fundamental Analysis.

At IQ Option you can learn though:

  • Demo account
  • Educational videos


Demo Account is provided with unlimited use and 10,000$ virtual.

IQ Option Education
IQ Option Review – Education

Customer Service

Customer service ranked – good, there are various ways to contact Support team available 24/7. Live Chat is accessible directly from the platform and we got a relevant rapid answer.

On the downside, agents sometimes are offline.

IQ Option Customer Support is available in various languages via:

  • Live chat
  • Telephone
  • Email
IQ Option Support
Olymp Trade Review – Customer Service

IQ Option Live chat response is quick speed

Question AskedWe asked about instruments.
Time of ReplyWe connect instantly to Live Chat via Trading Platform.
Quality of ReplyThe answer was relative.


IQ Option is not a safe broker to trade. While carrying research for this review we found numerous complaints claiming IQ Option Scam.

IQ Option is registered with CySEC, however opens account with its offshore entity in SVG with no serious regulations from the top authorities like FCA.

Trading conditions are quite attractive with learning materials, contests and promos. Binary options trading is available, extreme high leverage ratios are also in the package makes it all high-risk trading environment.

We do not recommend IQ Option due to confusion in its status, bad reputation and maintenance of a trading account through SVG regulation not CySEC. We recommend selecting other broker like Trading 212.

Author of this review

By Jimmy O'Brien

Author of this review

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

Over 15 years experience in forex, commodities and equities markets research. He loves analyzing and trading the markets as a strategist and trader. In late 2019, Jimmy turned to researching and analyzing forex brokers. Now he and his team focus researching and comparing broker’s pros and cons.

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