More and more brokers are popping up and hitting our radar. Unfortunately, however, most of those brokers are not very trustworthy or reliable. We review every broker we find by digging deep in their services, history and try to catch some mistakes or giveaways that some people may miss. This IQ Option review was created for the same reason as our any other review, in order to keep you informed and keep you safe when choosing a broker. However, you’ll be delighted that we had a wonderful experience when researching this broker. So get your skeptical mind prepared because we will be discussing all the essentials of this broker.
Can IQ Option be trusted?
We want to be as honest as possible here and say that the design of the website didn’t impress us that much, because most of the information is dedicated to the services that the company offers which were quite vague. however, after a bit more effort the whole company was in front of us like a book ready for us to read. So it would be our suggestion that when you decide to visit the website yourself, keep in mind that a little more effort is needed to find the info you need. The IQ Option scam was actually one of our first reactions after seeing the homepage. It was quite annoying to have the registration sidebar follow us all the time, but, in the end, it was all worth it.
IQ Option Forex broker regulators and partner countries
When we checked out their “About Us” tab it didn’t really contain much information about the company itself. Most of the information was about their numbers, how big they are, how many users they are servicing and how much those users are making actually. Therefore we had to dig a bit deeper to find out where exactly the Forex broker is based.
We were happy to find out that the broker is licensed by CySEC and has named Cyprus as the country where its HQ is located. It also has offices in other countries like Saint Petersburg, London, and New York City. It is also very refreshing to see a broker make effective use of their social media account. IQ Options fraud would’ve been a possibility for us if we saw that the social media pages are dead or dying. But when we took a look at them they look like they’re thriving. The broker is even verified by Facebook giving it a huge advantage in terms of trustworthiness.
IQ Option FX brokerage’s trading details
When looking at the details we try to find out about all of the details possible. IQ Options has absolutely no problem of disclosing information about how many traders they house and how much those traders are making. Also, almost all the information about the broker is disclosed on their social media sites as well, if it is not disclosed then it is surely discussed by the community. We believe that such openness towards transparency is what gives IQ Option the edge over nearly 95% of all the other brokers. Also having a social media community who you can always contact and ask about some specific thing is very convenient. 78 customer service officials as of 2017 will be ready to take your request at a moment’s notice so be prepared for amazing customer service as well.
IQ Option Details
It is stated on their official website that they are were housing nearly 26 million traders in 2017. Please note that this was nearly double the amount they serviced in 2016, implying that more than 13 million people decided that this broker was a good choice for them. Having 26 million traders on a platform is a rather big achievement for a single broker. IQ Option is impeccable with their service. They have absolutely no problem with handling this amount of traders every day. Therefore expect to be treated well and respected on this platform.
IQ Option withdrawal
Their withdrawal is also the talk of the community because of how quickly they can handle the request of so many people. 26 million and even more people trading on your platform every day, means that you will be getting about 20-25% of those people requesting a withdrawal. Processing more than 5 million requests within 1 day is remarkable. We also looked at the fees that IQ Option requires from its users when they are trying to withdraw. There are two sides to this, however. if you are a trader who trades on a low-profit-margin, for example maybe $200 or $250 a month, it might be a bit discouraging to have a fixed withdrawal fee of 25 EUR. But for large profit traders, it is a godsend. So look at it from your perspective, we believe that in the long run, it is still beneficial for everybody.
IQ Option Web Trader/Mobile Trader
IQ Option is currently using a Web Trader application for its users. This application also comes in form of a Mobile app as well. Not having MT4 or cTrader and other software is not a detriment to a broker that people may think, but at least having the option would have been nice in terms of variation. The lack of variation here is outweighed by the fact that IQ Option is famous for its design of spreads, which are the easiest to read and comprehend.
Summarising the IQ Option review
IQ Option has left a very good impression on us, we were blown away by how big they actually are. It was quite refreshing to see how an effective legit broker looks like. IQ Option offers you fixed withdrawal fees, great spread designs, impeccable customer support and quite a large pool of trading assets to choose from. We hope that this IQ Option review helped you in formulating your decision and regardless if you choose to trade with them or not, we wish you good luck!