Founded in 2013, IQ Option has become a popular choice in the online trading world. For small-scale traders, we are happy to announce that you only need to make a $10 deposit to start your real-money trading with IQ Option. Naturally, this low minimum deposit has proven popular among people who are new to the trading world and want to try it out without being forced to make a big first deposit.
At the time of writing, there are 20+ currency pairs available here for FX traders. Important: Some of the spreads are really big, e.g. 18 pips for EUR/USD and 20 pips for GBP/USD.
IQ Option is owned by IQ Option Europe Ltd, an investment firm based in Cyprus. It is regulated by the Cyprus Securities Exchange Commission (CySEC). Cyprus is a part of the European Union.
There are two different real-money accounts available at IQ Option, and there is also a demo account where you trade using free play-money.
The Standard Account at IQ Option only require a $10 deposit to get you started trading with real money, and you will get access to a huge amount of instruments and tools.
To get a VIP Account, you must make a deposit of at least $3,000. It comes with many benefits and perks, such as a Personal Manager and 3% extra payout.
Before you start trading using real money, it is advisable to get some experience from the free Demo Account. In this account, you can learn how the software work and test out different trading strategies with $1,000 free play-money. When you feel ready, it is easy to switch onto using real money instead.
With IQ Option, you trade on their own proprietary trading platform. No third-party platforms (such as MetaTrader4) are available.
The IQ Option proprietary trading platform is updated and maintained regularly.
Examples of popular features:
- Historical price data for 2 years
- Large assortment of technical indicators, including Awesome Oscillator, MACD, RSI, Parabolic SAR, and Stochastic Oscillator.
- Position Top-Up is a feature that allows you to hold a trade open as it approaches a stop loss
- Dark and sleek interface
Can I trade on mobile devices?
Yes, IQ Option offer mobile trading on smartphones and tablets. To get access to their proprietary platform, simply download the IQ Option App in Google Play Store for Android or in Apple App Store for iOS.
Spreads & Commissions
Some of the spreads at IQ Option are prohibitively large and turn a lot of traders away. An 18 pip spread on EUR/USD is not to our liking, and neither is 20 pips for GBP/USD.
Does IQ Option offer leverage trading?
Yes, leveraged trading is possible at IQ Option.
The cap for cryptocurrencies is just 25:1. For forex and certain other things, the cap is 300:1.
For transactions, you can use major credit cards, bank wire transfers, or any of the e-wallets Skrill, Neteller an WebMoney.
Credit cards and e-wallets tend to be quicker than bank wire transfers.
Withdrawal requests are usually processed within 24 hours, but sometimes it takes longer. In some cases, it takes up to seven days before you get your money.