IQ Option Review: Stocks, ETFs & Forex Broker Updated 2023

Within the trading platform, users can trade a variety of assets and financial instruments, including stocks, forex, cryptocurrencies, ETFs, and commodities. As a market maker, IQ Option has lower entry requirements versus ECN brokers, which typically have larger minimum trade and capital requirements. For traders, this means they can benefit from lower minimum deposits and smaller minimum trades with no commission fees. Saxo Market is the Singapore-based international stockbroker that entered the industry in 2006 as a licensed subsidiary of one of Denmark’s largest investment banks, Saxo Bank A/S. It’s a multi-regulated broker with official authorization to operate in 15 jurisdictions, though the main oversight is done by the FSA. Although Saxo Markets allows access to a multitude of stock markets and rightfully holds its place among top stockbrokers, it’s far more accoladed as a Forex broker.


All eligible clients, except cryptocurrency traders, receive free insurance of up to $1 million, which covers all positions in stock markets. To buy/sell international stocks, a user would have to open either a Fund and Share dealing account or a Stocks and Shares ISA account. The former costs only £1 to launch, imposes no investment limits, and doesn’t charge anything for holding shares. The latter has an entry barrier of £100, along with a £20,000 investment threshold and a 0.45% annual fee for holding shares (capped at £45). Stock trading fees can hardly be called low – dealing with the UK or US shares will cost you from £5.95 to £11.95 per trade. Also, the currency conversion fee applies since Hargreaves Lansdown’s has only one base currency – GBP, which is its main flaw.

Overview of the IQ Option platform

You’ll also find the ETFMG Alternative Harvest ETF, which tracks the performance of companies within the burgeoning cannabis ecosystem. Yes, the small percentage of traders that generate trading profits can withdraw them. IQ Option notes that it processes more than $20,000,000 in monthly withdrawals. The pros of the account type structure at IQ Option are fairness and no upselling of better trading conditions for higher deposits. I also want to note the downside, the absence of a rebate program for high-volume traders. Each online broker will attract trader complaints over time.

Data safety

Click on the “Deposit” tab at the top of your trading interface. The other option is to top up your real account with a minimum of $10. The demo account should be used to create discipline and a solid trading strategy which will be transferred to your real trading account. This will reveal a list of the currency pairs available for trading. One of the advantages of trading forex on IQ Option is that their prices are usually quite accurate.

What languages does the website support?

Once you invest a large amount on a single trade, they will move in taking your money to recover your winnings and a good part of your account balance. Next on our list is a Bristol-based stockbroker with a solid reputation and an extensive selection of investment options. Harness the potential of both fundamental and technical analysis through our News Feed and Economic Calendars. Access over 100 of the most popular technical indicators and widgets. Keep your finger on the pulse of financial markets with our customizable price alerts, ensuring you’re always in the know with IQ Broker. Help is always on hand and a fantastic network system of other traders to help and chat with.

I can also recommend IQ Option for beginners due to its quality educational content and low minimum deposit requirement of only $10. I miss MT4 and its algorithmic trading environment, but I rank IQ Option among the best manual-only brokers. IQ Option offers identical trading conditions from the same account type for everyone. The minimum deposit is only $10, making it one of the most accessible CFD brokers. Traders may deposit in their local currency, or the currency of any country where we accept residents as clients. The CySEC subsidiary has a professional account upgrade, which presents identical trading conditions as retail traders receive at the Antigua and Barbuda unit.

This practice is common among online brokers to avoid account build-up and administrative costs. The broker offers a user-friendly policy on deposit and withdrawal fees to minimize expenses for traders. Deposits are usually free, but withdrawals may incur costs each month after the first free withdrawal. Furthermore, the broker offers tailored platforms for distinct trading techniques. They provide traders with a unique digital and binary options platform focusing on speedy transaction execution and efficient risk-management measures. They currently have 13 different cryptocurrency CFDs on offer and they have an additional 22 currency pairs on offer as part of their forex service.

  1. Our team of experts work to continually re-evaluate the reviews and information we provide on all the top Forex / CFD brokerages featured here.
  2. Once your account is set up, log in with your email and password.
  3. However, the good thing is that no trader has ever complained that the platform withheld their funds.
  4. The following are the basic steps to take to open a real trading account.
  5. Also called a ‘dormant account fee’, IQ Option charges a fee if an account is inactive for 90 consecutive days.
  6. I submitted my verification documents well within the 7 days, sure enough on the last day for me to verify my account they decided what I had provided wasn’t sufficient and have now suspended my account.

You can also get a quick overview of all of your open positions any time you are making a trade. They even have a chat section where you can discuss matters with other users. IQ Option has largely gotten its reputation from being one of the leading brokers in the binary options sector having started up their operations in 2013 in Cyprus. These additional operating hours will undoubtedly add value for IQ Option users who like to trade on the weekend.

Trading with a regulated broker will limit potential fraudulent actions and malpractice. I always recommend traders check for regulation and verify it with the regulator by checking the provided license with their database. IQ Option has one regulated subsidiary with a clean track record. I put in a withdrawal request since the 10th of December and today is now the 16th and I still can’t get my money.

The minimum amount necessary to begin trading is $10, making it available to a diverse spectrum of traders. This feature is particularly beneficial for traders outside the European Union (EU), where leverage choices may be more limited due to regulatory variances. Yes, the platform features a variety of technical indicators and charting tools for in-depth market study.

The value of one currency against another is always changing. You can get in touch with a member of the customer support team 24/7 through email, telephone, by mail or through social media. Currency price movements are also less volatile when you trade using ‘Market Makers’ such as IQ Option, although this can be a disadvantage depending on your trading style, for example, scalping. IQ Option recently added a selection of 12 cryptocurrencies to trade in, which are available as CFDs or Contracts for Difference. This includes popular cryptocurrencies such as Bitcoin, Litecoin and Ethereum, as well as lesser-known altcoins such as EOS, Qtum, Dash and Tron.

It provides means for trading a variety of financial products, including stocks, options, ETFs, futures, cryptocurrencies, bonds, and mutual funds. In 2020, the broker expanded its reach to the United Kingdom; it currently offers its services mainly to customers from those two countries, which, as we think, iq option broker review is this broker’s significant drawdown. Apart from stocks, registered customers from these two jurisdictions can trade Forex, indices, futures, CFDs, options, bonds, ETFs, and commodities. Pepperstone was founded in Melbourne, Australia in 2010 and is one of the best around for trading forex and CFDs.

In addition, make sure that the broker you’re dealing with has a mechanism that allows you to keep track of the withdrawals process. Embrace a multifaceted chart layout, delve into comprehensive technical analysis, access historical quotes, and more, all within the IQ Broker platform—available on your preferred device. Yes, they are deemed safe; CySEC regulates it and uses modern encryption technology to protect customer data and funds. Yes, the broker performs frequent security audits to discover and remedy possible vulnerabilities, therefore assuring the platform’s integrity and user security. ✅Indicate how much money you plan to deposit into your account.

I’ve learnt to trade from this platform after trying out several. The only weakness of this platform is withdrawing your investment. If using a card, you can only put withdraw what you have invest. You’ve got to open an ewallet or go through a length process to withdraw your profit. However, withdrawals may be subject to fees after the first free withdrawal of the month, as well as a currency conversion cost.