IQ Option Review - Is It A Scam?

IQ Option is one of the top brokers in the binary options industry. It has been operating since 2013 and has established itself firmly at the top. Many new traders will try IQ Option as their first broker, but the main question everyone has to ask is it a legitimate broker or is it a scam? Let’s check it out in our review below.

IQ Options Details

Broker Name IQ Option
Support Options Email, Live Chat, Phone
Payout >90%
Free Demo Open Free Demo Account
Minimum Deposit $10
Minimum Trade $1
Deposit and Withdrawal Credit and Debit Cards, Wire Transfer, Skrill, Neteller, WebMoney

Is IQ Option a scam?

As of writing this review, IQ Option has been operating for around 4 years. It is safe to say that IQ Option is definitely a legitimate broker and, indeed, one of the safest ones to trade with. It has even been awarded multiple awards since it began operating.

It has a strict anti money laundering policy and holds a valid license from CySEC, meaning it is regulated. The website itself is protected by SSL which is great for security.

The broker also sponsors Aston Martin racing, and consistently receives positive feedback from traders further establishing a strong air of quality.

Therefore, it is safe to conclude that IQ Option is not a scam.

IQ Option – Helping you to learn

One great thing about this broker is that they are committed to giving you a helping hand. They have a great blog which has up to date information about the trading platform as well as news and events. Paired with this is the calendar which can help map out financial events that may affect markets and assets.

Adding extra value is their training centre which has plenty of videos for both new and experienced traders. These help you develop your skills to become more profitable using their platform.

IQ Option – Account Types

There are three main account types with this broker, so there is something to suit everyone. Each account type offers a different bonus.

Demo Account

This is a free account that provides you with access to the broker’s trading platform. This is great if you want to try it out before you invest. It is completely free of charge and we would definitely recommend this as a first step so you can familiarise yourself with the platform and software.

Real Account

This account can be opened with just $10 – great for new traders! This account also offers up to 80% bonuses on deposits and provides you with access to their trading challenges – another great way to get involved in the community.

VIP Account

This is the top level account available and is intended for the experienced traders. It offers up to 100% bonuses on each deposit, a personal account manager, faster withdrawals and monthly analytics regarding trading strategies with an expert in the field.

IQOption – Getting Started

Step 1
Sign Up
Traders need to sign up with IQ Option as a first step. This is quick and simple and provides you access to the Demo Account straight away.
Step 2
Start Trading
You can kickstart your account with just $10 and trades can be as low as $1, giving you plenty of room for trying the waters. There are plenty of assets to choose from and, as with all binary options, you simply need to choose the direction in which it will go.
Step 3
After winning traders you may want to withdraw your profits. This is quick and simple and goes straight back to the method with which you deposited.

IQ Options – Deposits and Withdrawals

As with the rest of the platform, deposits and withdrawals are just as simple. There are various payment methods, credit / debit cards, wire transfers and e-wallets. The minimum deposit is only $10 which is great for those who are just starting.

The minimum withdrawal amount is also just $10 and IQ Option does not charge any fees for withdrawals. If you are a VIP Account holder than withdrawals are processed even faster which is a great bonus.

Trading Platform

IQOption has a great interface which is simple but also powerful. Updates are frequent and the asset price data is provided by Thomson-Reuters for upmost accuracy. The assist range from stocks, to currencies, to commodities.

The platform is not just limited to a web interface, but also has fantastic mobile apps for Android and iOS. The performance is parallel to the web interface, so you can be reassured that wherever you are trading you will get a great experience. The app even works on the Apple Watch!


Customer support is available 24/7 via phone, email and live chat. This is excellent as you can be reassured that someone is always on hand to provide help.

The website itself has been translated into various languages, further broadening the reach.


In conclusion, our research and review have shown that IQ Options provides a solid trading platform and experience for brokers of all skill levels. It is one of the top choices of brokers and it’s client base is growing at an incredible rate, further solidifying trust.

A minimum deposit of just $10 is excellent as many other brokers require 20-25 times as much. Being able to test the platform with a demo account too is also a great feature.

We are happy to give this broker the seal of approval and can verify it is not a scam.

seal of approval