Plus500
- Min Deposit $100 or equivalent
- 2,000+ Tradable Assets
- Max Leverage: 30:1 , 300:1 professional clients
- Official Partner Atlético de Madrid
IQ Option
Min $10
8.6/10 (Expert Score)
Product is rated as #8 in category CFD Brokers This IQ Option review gives you all the key facts you need to decide if it’s the right platform for your money. Brought to you by Brokerage Compare.
"CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 85% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money."
PROS:
- Min Deposit $10
- Max Leverage: 30:1 EU, 1,000:1 non-EU professional clients
- Forex, Crypto, Stocks, Commodities, ETFs, & Options
- Credit/Debit card, Bank transfer, Electronic wallets
- Web Trader, Mobile App & Desktop Trader
- Regulated by CySEC
- 24/7 chat, email, phone
- 17 Languages Supported
- Over 2,800,000 clients worldwide
CONS:
- Swap fees for positions held overnight
- €31 withdrawal fee for bank transfers
- Poor analytic features
IQ Option Review
IQ option is an investment firm and software developing brand, but its main focus is the online trading platform. It was founded in 2013 in the Republic of Cyprus by Dmitry Zaretsky and its headquarters are still in Limassol, Cyprus. IQ Option’s total staff count is 700 and they operate internationally, in more than 13 languages, across a number of instruments such as CFDs, Forex and cryptocurrencies.
IQ Option Fees Review
PROS:
- No deposit fees
- Low CFD fees
- No crypto fees
CONS:
- Swap fees for positions held overnight
- €10 monthly fee after 90 days of inactivity
IQ Option’s fees are clearly explained and their minimum deposit is lower than similar platforms at $10.
CFD Fees
Below are a few tables outlining IQ Option’s fees for various products (Forex, Cryptocurrencies for short-sell transactions, Cryptocurrencies for Long-Buy transactions, Stocks, ETFs, Indices and Commodities):
| Type | Nature | Description |
|---|---|---|
| Spread | One-off | The difference between the bid (sell) price and the ask (buy) price. |
| Swap | Ongoing | 0.01% – 0.6% of the face value of the position for keeping a position open overnight. |
| Dormant account | Other | €10 per month after 90 days of inactivity |
| Withdrawal | – | No withdrawal fees for debit credit card and electronic wallets. $31 for bank transfers. |
85% of retail CFD accounts lose money.
back to menu ↑IQ Option Deposits & Withdrawals Review
PROS:
- Min deposit $10
- Any account base currency
- Credit/Debit card, Bank transfer, Electronic wallets
CONS:
- €31 withdrawal fee for bank transfers
It’s very important to note that, if you deposit from a card, IQ Option will only let you withdraw the amount of your initial deposit back into that card.
Account Base Currency
When you set up an account with IQ Option, you need to be very careful with the currency of your first deposit. You can make this first deposit in whatever currency you want but this will then be the base currency of your account and you won’t be allowed to switch to another currency later. Any subsequent deposits you make will be converted to the base currency of your account.
Deposit & Withdrawal Currency Conversion Fees
| Deposit | Withdrawal | |
|---|---|---|
| Bank transfer | None | $31 |
| Credit/Debit card & Electronic wallets | None | None |
How long will it take for my deposit to show on IQ Option?
Deposits are processed instantly.
When will I have access to my money if I withdraw from IQ Option?
IQ Option processes withdrawal requests within 1-3 business days. However, withdrawals to cards are instant but may take longer due to your bank’s own processing times.
What is IQ Option minimum deposit?
IQ Option minimum deposit is $10 but there is no max.
How do I withdraw money?
Please note that IQ Option has a very specific withdrawal policy: When you deposit via card, you will only be able to withdraw the deposits you made over the last 90 days back into that card. What this means effectively is that you won’t be able to withdraw profits into your card. These will have to be directed towards a bank transfer, with a $31 fee, or an electronic wallet.
Can I withdraw any amount?
The min amount is $2 and there is no max.
Does IQ Option charge withdrawal fees?
Not if you withdraw into a card, whether debit or credit, or an electronic wallet. Bank transfers though carry a fee of $31, or equivalent, per withdrawal.
Make your First Deposit with IQ Option
85% of retail CFD accounts lose money.
back to menu ↑IQ Option Account Types Review
You can easily open an IQ Option account online. All you need is an email address or, alternatively, you can use your Facebook or Google account. Then you get two options: you can either try out the platform using play money with a practice account or you can start trading directly with a live account. For the live account, you will need to complete 3 verification steps. First, you must verify your identity by uploading a copy of your passport or ID. Secondly, you must verify your residency by uploading a copy of a utility bill or bank statement or tax statement or stamped document from your local authority. Finally, you will need to provide a scan of both sides of the card you use for transactions.
Platform Languages
The IQ Option platform is multilingual with 17 languages: Русский, English, 中文, Español, Português, Indonesia, Türkçe, Italiano, Deutsch, 한국어, Français, Svenska, ไทย, हिन्दी, Tiếng Việt, বাংলা, Hindi.
Open a Trading Account with IQ Option
85% of retail CFD accounts lose money.
back to menu ↑IQ Option Platforms & Assets Review
PROS:
- 300+ tradable assets
- Forex, Crypto, Stocks, Commodities, ETFs, & Options
- Web trader, Mobile App & Desktop Trader
CONS:
- Poor analytic features
- Not particularly fast when locking in the trade strike-prices
| Assets | Total |
|---|---|
| Options | 48 |
| Forex | 43 |
| Stocks | 180 |
| Crypto | 12 |
| Commodities | 4 |
| ETFs | 24 |
Start CFD Trading with IQ Option
85% of retail CFD accounts lose money.
back to menu ↑IQ Option Customer Service Review
PROS:
- 24/7 Support
- email, live chat & phone
CONS:
- None
IQ Option offers efficient customer service via phone 24/7 in English, Spanish and Portuguese.
back to menu ↑Is IQ Option safe?
| Regulator | License | Legal Entity |
|---|---|---|
| Cyprus Securities Exchange Commission (CySEC) | 247/14 | IQOPTION EUROPE LTD |
Is IQ Option safe?
- Yes, it is authorised and regulated by the Cyprus Securities and Exchange Commission (CySEC).
Is there negative balance protection on IQ Option?
- Yes and, in fact, IQ Option offers not just negative balance protection but also Stop Loss/Take Profit and Trailing Stop. These features help you determine the level of risk you’re willing to take.
85% of retail CFD accounts lose money.
Specification: IQ Option
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