IQ Option review: Platforms, Trading Instruments and Broker Ratings.

1.328 • 111 REVIEWS
Iqoption Europe Ltd.
Updated: Oct 6, 2022
IQOption.com

What is IQ Option?

IQ Option is a CFD and Binary Option broker with IQ Option App available in PC and Mobile version.

Apart from Binary Option, IQOption also offers CFDs on forex pairs, stocks, cryptocurrencies, commodities, ETFs for your personal investment and trading option.

Please read IQ Option reviews below and share your live trading experiences with this broker.

January 2020:  An FPA member has shared an email he received from IQ Option support.  That email makes it plain that IQ Option considers the use of a VPS, VPN, or even trading from an IP in a different country to be grounds for confiscating funds from an account.  See post #3 of this thread for details.

The FPA warns anyone who has an account with IQOption or is considering opening an account with IQ Option to not use a VPS or VPN and to never try to trade while traveling in another country.  Or, find a broker that permits you to travel or use a VPS/VPN service.
2019-05-21:  Cysec has announce a fine of €450,000 against IQ Option.  CLICK HERE to confirm.
July 2017: There is an FPA Traders Court guilty vote against this company.  The FPA recommends caution dealing with IQ Option unless this issue can be resolved.
Other websites of this company include IQBroker.co, IQ-Option.com, and IQOption.es.
1.328 • 111 REVIEWS

Traders Reviews

J
Jonathan Aihoon
Accra, Ghana,
Sep 3, 2022,
Guest

Very very bad.

Service use: Live Length of use: over 1 Year
The company fails to pay withdrawals in time. They always hide behind "review" to delay payments. I have a friend who requested withdrawal to his Skrill account since 4th of June 2022. Still he has not received it as at 3rd of September 2022.
This is an unethical comoany with no feelings for traders.

STAY AWAY FROM THEM
J
Reply by Adil IQ Option submitted Sep 6, 2022:
Hello Jonathan,

We are sorry for any inconvenience, however, the company has the right to review accounts to ensure safety on the platform, this is done to make the platform safer for our traders actually.
Regarding the issue with your friend, has he tried connecting with our support team? Can you please tell us if you have faced any such issue yourself related to the platform?

We thank you for your cooperation and understanding.

Best,
Adil - IQ Option
A
egypt, Egypt,
May 9, 2022,
Registered user

withdraw status under review

Service use: Live Length of use: 0-3 Months
When I requested a withdrawal of $100 on 3/5/2022, I had to wait 7 days and the withdrawal was not approved, and when contacting support they say that the account is under review and this process does not have a specific time period, I canceled the withdrawal request and traded again and requested the withdrawal again twice On 8/5/2022 and 9/5/2022, $80 each, and again the support says that there is a review , I will wait the 3 days and I will publish the update
1 trader has found this review helpful
A
Reply by Adil IQ Option submitted May 11, 2022:
Hello, we understand your concern however the company has the right to review accounts to ensure safety on the platform. Once it is done and everything is fine, the withdrawal will be processed and completed. Canceling the withdrawal and requesting it again will only prolong the process, please cooperate with support team.
We thank you for your understanding.

Best,
Adil - IQ Option
S
Qatar, Qatar,
May 3, 2022,
Registered user

IQ Option Delays the Trade Entry point after u start making money

Service use: Live Length of use: 0-3 Months
I lost almost 20000 GBP in iq option . i recovered 6000 gbp . After my first withdrawal they removed my live support and after my second withdrwal they make delay almost 8 seconds delay in entry point. This company become a total scam. They steal money of everyone.
S
Reply by Adil IQ Option submitted May 6, 2022:
Hello, if you lost your funds while trading then we are sorry to hear that however, that does not make us fraud or scam. We do not guarantee profit or loss. It all depends on how you trade.
Regarding live chat support, then products or services that may be offered by the Company may not always be available for purchasing or use for trading purposes, and it is in the Company's absolute discretion whether it will make these products available or not to the clients at any time.
Thirdly, for delay, please check if you are using high speed internet, it is important that you are using high speed internet. You can connect with our support team via email for assistance regarding the subject.

Best,
Adil - IQ Option
R
asia, Indonesia,
Mar 13, 2022,
Registered user

withdraw status under review

Service use: Live Length of use: over 1 Year
it's been 10 days.. after request withdraw on 4 mar 2022 for $337. i ever in this situation and in the first under review it's only take 9 days.. but now it's been 10 days and my wd still under review, i start to doubt.. i will keep posting in 4 days

Mar 8, 2022 - 1 Star I made the withdrawal on 4th Mar 2022 for $337. but until today i didn't received the money, and the support say my account getting under review AGAIN.. it's been 3 times in a year my account get under review.. for the next i will give update in a 5 days

Reply by Adil IQ Option submitted Mar 9, 2022 Hello, we understand your concern however the company has the right to review accounts to ensure safety on the platform. Once it is done and everything is fine, the withdrawal will be processed and completed. Can you please specify if you received the last two withdrawals?

We thank you for your understanding.
1 trader has found this review helpful
F
Asia, Philippines,
Feb 23, 2022,
Registered user

My profit was corrupted.

Service use: Live Length of use: over 1 Year
I invest in this broker for one year now. I studied chart reading well-used strategies during my trading with this platform and I profited gradually. So the strategy that I made was indeed working and I profited 30% at first. I continue to use the strategy hoping that I could double up the amount. I trade with this platform many times.
One time, I was staring at the movement of the chart. I was observing how am I going to stop the loss if it go against the position I made.
This time, I then made a move just to stop the loss because I realized as I observed, the movement goes against my position. While the chart was on the move, I expected a loss this time but then for me it's fine, it's only a mini amount because I already computed the profit. But when the ticker reached the final line, I was shocked because I saw the remaining balance reflected wasn't the figures as I was expected, the broker corrupted the 30% of my remaining amount, in short, my profit was gone. I wondered how it happens.
I reviewed the trading history to check if I could see how this thing happened but then I saw nothing on the history, I computed all the amount since I started the trading, and I found out there was a missing amount and that's it, the amount that was missing was the amount they corrupted during my trading.
For me, my experiences with this IQ option are enough to say they are not a reliable broker. I said experiences because I made a lot of bad experiences with them but I just ignored them.
I advise those who looking for a reliable broker I recommend to avoid this one.
F
Reply by Adil IQ Option submitted Feb 24, 2022:
Hello, let us clarify that traders can see the expected profit / loss on the top right side in trade room if you close a trade yourself (before the expiration).
Please feel free to share the evidence (video or picture) you have with trade details with our support team via email and we will definitely look into it.
We would like to assure you that we are a trusted broker.

Best,
Adil
K
Trinidad, Trinidad and Tobago,
Feb 3, 2022,
Registered user

WirhdrawL Problems

Service use: Live Length of use: over 1 Year
Withdrawal of just over $6400US still not processed after 11 days. They’ve also removed my access to the live chat support on the platform. Very fishy behavior. Be weary guys, be very weary. Also keep all your records because prior to this when I was loosing trades and depositing frequently I didn’t have any problems.
K
Reply by Adil IQ Option submitted Feb 11, 2022:
Hello, withdrawals to bank card may take up to 21 working days and to ewallet it may take up to 3 working days. We do not count saturday and sunday.
Secondly, products or services that may be offered by the Company may not always be available for purchasing or use for trading purposes, and it is in the Company's absolute discretion whether it will make these products available or not to the clients at any time.
This does not mean that it is because of your withdrawal.
If you have any doubt then please connect with our support team and they will be glad to assist you.
Best,
Adil
D
ZA, South Africa,
Jan 24, 2022,
Registered user

Good for beginners

Service use: Live Length of use: over 1 Year
I've been trading on IQOption for years now and I'm rather surprised by these bad reviews. I don't play their binary option instruments, and I see a lot of their reviews are regarding those. There is a reason why binary options are a terrible(high risk) way of trading, and it's sad to see people get fooled by them, but it's not the platforms fault since it's the traders own choice to take that risk. My first deposit got blown within a day on binary options and I haven't touched them since. And I only blame myself

IQOption offers other instruments (forex/stocks/commodities/crypto) CFD's. I highly recommend any beginner to stay away from binary options and focus on low leverage CFD's. IQ's strong point is that you can change leverage on most instruments quickly to match any scenario(Bring back that option for commodities please IQ :D). I've only encountered connection issues/chart loading and delayed updates of p/l which can be confusing but these issues were mainly isolated to their mobile platform. Some of their CFD's have low spread but majority of them are rather large. 0 commissions and they give 1 free withdrawal monthly which I found great! UI is smooth and user friendly although lacking some more advanced charting tools and no pre/after market information. Overall it's a good platform for beginners (if you stay away from binary options). 4 stars for lack of low spreads on majority of instruments and lack of advanced charting(and I don't mean indicators).
D
Reply by Adil IQ Option submitted Jan 28, 2022:
Hello David, we would like to thank you for your time and for sharing your insight with us and others.

We will forward the feedback to our developers reading spreads and charting.

We wish you a good day!

Best,
Adil
F
Dubai, United Arab Emirates,
Dec 31, 2021,
Registered user

IQ will remove normal trading assets, when user getting profitable

Service use: Live Length of use: over 1 Year
They removed and stopped me giving normal trading assets. As they noticed that I am getting consistent profits.
i.e. currently I can trade only OTC pairs even during normal trading hours which I usually don't trade and also removed my chat option.
F
Reply by Adil IQ Option submitted Jan 4, 2022:
Hello!
We would like to clarify that it is not correct.
Products or services that may be offered by the Company may not always be available for purchasing or use for trading purposes, and it is in the Company's absolute discretion whether it will make these products available or not to the clients at any time.
Please note that the company reserves the right to limit the assets/ instruments available in accordance with the Company's internal risk assessment which depends on the Company's business model and risk strategy.

Best,
Adil
Y
Casablanca, Morocco,
Nov 11, 2021,
Registered user

IQ Option big Scammers

Service use: Live Length of use: over 1 Year
When I deposit and earn some money They blocked my withdrawal, ( There is no withdrawal methods available for your country )

And still like this statut, every time I ask the support they telling me different stories

Really be aware , IQ Option Big scam
Y
Reply by Adil IQ Option submitted Nov 17, 2021:
Hello, we would like to clarify that we never block accounts without any reason. We also do not steal anyone's funds. If you are having any issue with your account then please write to our support and they will be glad to check it for you.

Adil _ IQ Option
I
Buenos Aires, Argentina,
Oct 27, 2021,
Registered user

Insane Spreads

Service use: Live Length of use: 0-3 Months
This company states that they offer low spreads!!! It´s pure bull****, they actually have "dynamic" spreads, which are totally INSANE! I opened a trade that started with a loss of $12 and I the price had to go on my favour for like 30 pips before I satrt making money!! Awful broker, stay away from them!!
2 traders have found this review helpful
I
Reply by Adil IQ Option submitted Nov 17, 2021:
Hello Ignacio, we are sorry to hear that you are unhappy with the app. Please note that the spread depends on the market, it is not fixed. It can change depending on the situation.
You can always connect with our support team to clarify doubts.

Best,
Adil - IQ Option
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Frequently Asked Questions

Is IQOption regulated?

Yes, IQOption is regulated by CySEC (the Cyprus Securities and Exchange Commission.  This regulation only applies to clients inside the EU.

IQ Option has no regulatory registration covering clients outside of the EU.

Is IQ Option legitimate or good?

Reading the unbiased traders reviews on ForexPeaceArmy is the best way to answer if IQOption is a legitimate or good broker.
https://www.forexpeacearmy.com/forex-reviews/11675/iqoption-forex-brokers

Please come back often as broker services are very dynamic and can improve or deteriorate rapidly.

Additionally, we'd recommend to check recent  IQOption community discussions: https://www.forexpeacearmy.com/community/tags/iqoption/

What is IQ Option?

IQ Option is a hybrid of binary option trading and traditional forex trading broker.

IQ Option offers the following instruments:
  • CFDs on currency pairs
  • CFDs on stocks
  • CFDs on commodities
  • CFDs on Cryptocurrencies
  • CFDs on ETFs
  • Binary Options
  • Digital Options

    Is IQ option legal in Singapore?

    Singapore’s financial markets are regulated by the Monetary Authority of Singapore (MAS). Which means all sectors of the financial services industry is regulated by MAS.

    IQ Option is not regulated with any financial regulator. In other words, IQOption is not legal to carry out any financial services in Singapore.