IQ Option Review
Reason to avoid: Non compliance
Listed Date: September 5, 2018
Top 3 Forex Brokers
Beware IQ Option is a Non-Regulated broker. It is NOT SAFE to trade.
Reason to avoid: Non compliance
Listed Date: September 5, 2018
Beware IQ Option is a Non-Regulated broker. It is NOT SAFE to trade.
Based on our research, IQ Markets is not a trustworthy broker. IQ Option is operated by an IQ Option Europe company that was founded in 2013 and claims to be one of the fastest-growing online trading brands in the world with over 40 million members. The IQ Option offering includes trading in binary options, currencies, ETF trading, and stocks as well as the exclusive IQOption product called Digital Options.
🗺️ Registered in | Cyprus |
🗺️ Type of License | Non compliance |
🛡️ Is IQ Option safe to trade | No |
🗺️ Recommended Licenses | FCA in UK 🇬🇧 & ASIC in Australia 🇦🇺 |
🖥 Alternative Broker | IC Markets - licensed by ASIC in Australia |
IQ Option is a registered company by CySEC with an allowance to provide its services within the EEA zone with a number of registrations from other EU authorities and claims its attractive location in Cyprus. Nevertheless, at the fact the domain and all rights belong to IQ Option Ltd registered in Seychelles, a known offshore hub, while the Cyprus branch operates for payment transaction management. Registration Address/ License: Limassol, Cyprus. Regulated by CySEC – registration no. 247/14
For traders that reside outside of the European Economic Area, their trading accounts are managed by a sister company known as “IQOPTION LTD”. This company is registered in St. Vincent and Grenadines, and this entity is not regulated.
Based on the research we conducted on IQ Options, we do not rank positively IQ Options. With an Expert Opinion with over 10 Years of experience in Forex Trading we have come up with the following ranking:
Ranking | IQ Options | FP Markets | Go Markets |
---|---|---|---|
Our Ranking | ⭐ | ⭐⭐⭐⭐⭐ | ⭐⭐⭐⭐⭐ |
Is Broker safe? | No | Yes | Yes |
Advantages | None | Trading Environment | Excellent customer support |
As we found many issues concerning the safety and reliability of IQ Options, here we offer much better Alternatives to IQ Options with tight regulations and excellent conditions. We select Good Brokers and reliable options for your comparison below:
Many traders from India are interested in Forex trading and specifically in trading with IQ Option, however, most of them don’t even know if there is such an opportunity on the broker’s platform. Trading isn’t prohibited by Indian legislation and international companies have never been banned in India (Check Indian forex brokers here). Thus, there is no violation of the law in trading with IQ Option from India.
IQ Option is not legal in the USA and is not available for American traders. As per U.S law, brokers regulated by CFTC are the only brokers allowed for USA traders. So, except for the IQ Option, you are only permitted to trade with the U.S regulated platforms.
The minimum deposit for opening a real account with IQ Option is $10 USD/GBP/EUR. This broker supports various instant deposits and withdrawal methods also offered with no commission charges. Some countries may have different requirements for the account verification process, which is a standard process for all new traders.
The minimum withdrawal amount for IQ Option is $2. Traders have the right to withdraw funds only to the payment system that was used to deposit funds to their accounts.
IQOption offers clients the ability to trade options and CFDs using their proprietary mobile application (Read about Skilling Broker’s mobile trading platform by the link) which is very easy to use and has a very clean interface. The mobile app is available on Android and Apple iOS operating systems and can be downloaded via the Apple Store or Google Play. With the help of this app, traders are able to execute trades, check account status, stay updated with market developments, use charting tools, and set up customizable alerts and push notifications.
IQ Option offers a free demo account (Read Infinox review, which also offers a free demo account) that includes $10,000 in virtual money. There is no limit on how long you can use the demo account for. If you run out of virtual funds inside of your demo account, you can have them replenished so you can continue practicing.
The Demo Account is provided to give traders a demonstration of the broker’s trading platform and to offer traders the opportunity to trade on simulated real trading conditions. This further allows the trader to gain more experience prior to trading with real funds and facing actual risk. Traders may test their trading strategies and become familiar with the trading platform at their own pace.
Overall, there is no sustainable trust in the delivered IQ Option trading environment since there are many complaints from the broker’s clients along with the official periodical issues in terms of non-maintained order records of clients, transactions, material, and the approval of the information. So the downside of the IQ Option would be also multiple negative reviews of this company, including poor execution and slow withdrawals, which are pretty major issues, when it comes to brokerages like this one.
Besides, we strongly advise all investors and traders to avoid IQ Options and other brokers with doubtful reputations. Instead, we recommend opening a trading account only with the brokers like Exness, BDSwiss, BlackBull Markets which are regulated by respected world authorities that comply with the required set of rules and have a good reputation through the delivered timeframe of operations (See the top 10 forex brokers in the world).
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Hello there,
could you guys update this review? I am getting confused by other sites. I am reading from other reviews that IQ Option LTD is in fact not to be trusted, but that IQ Option Europe LTD is regulated. People living in Europe are directly registered under IQ Option Europe LTD and should be safe.
Is this true?
The big scam is the IO platform. They excluded trading positions for me. I lost over $ 4,000. When I warned the days off my trading options, they just kept turning off. The money they took from me they never wanted to return. When I terminated my cooperation with them and deleted my registration. A few days later, my bank account was attacked.
what to do in case they refused to give back money