IQ Option Review 2020 Scam or Safe?

IQ Option was first introduced to the binary options traders across the globe back in 2013. Since then, it has gained a considerable amount of popularity by providing a vast range of assets, including CFD, Forex, and a significant number of cryptocurrencies. IQ Option is headquartered in Cyprus and their official website is in several different languages English, Russian, Arabian, German, Turkish, and many more. In the beginning, one of the main reasons behind this brokerage website’s popularity was the facility to trade binary options with a very short amount of deposit. As binary options are known for their quick returns, the demand and acceptability of IQ Options escalated rapidly. With time, this website also included cryptocurrency trading with 15 very popular cryptocurrencies like Bitcoin, Ethereum, Ripple, Bitcoin Cash, EOS, Stellar Lumens, NEO, etc.

In recent times, Forex, options, and cryptocurrency trading has become tremendously popular among the traders of South Africa. New investors from this country are joining these booming markets everyday making it one of the leading nations in both Forex and cryptocurrency trading. Therefore, it is quite natural that South African traders would be veritably interested in IQ Options as well. Here, a few aspects of this brokerage website would be discussed for their convenience.


Licence and Regulation

Being licensed by a legitimate regulatory body of a particular country is very important for the credibility of any brokerage website and IQ Option is no exception. This highly popular website is available in more than 27 countries across the globe and everywhere it is licensed by major regulatory bodies. As IQ Option Europe Ltd is headquartered in Cyprus, the licence from CySEC (Cyprus Securities and Exchange Commission) plays a major role in this website’s credibility around the world. CySEC is considered one of the most reliable regulatory bodies for their flawless and stringent system. Also, citizens of South Africa can actively participate in IQ Options trading as in this country IQ Option Ltd. is registered at Seychelles and is not regulated.


Registration is very easy. Besides an easy registration form IQ Option allows registration via Facebook or Google+ accounts. Once the age of the newly registered trader is verified, s/he can begin trading right away on this website.

Account Types

IQ Option offers mainly three types of accounts for their non-European clients namely the demo or training account, regular or real account, and the VIP account. Each of these accounts comes with their own sui generis features. The demo account is strictly for the neophyte traders where they can learn about various aspects of Forex or cryptocurrency trading and were given $10,000 as virtual deposit. As for the regular accounts, the traders need to register following due process and providing age verification. In case of real accounts, the trader has to possess at least $10 as initial deposit and can trade over 70 various available assets according to their individual predilection. Although mainly inexperienced traders opt for the real accounts, experienced traders can also benefit from this account as they receive up to 30% return on their every deposit. VIP accounts are usually chosen by veteran traders as the amount required as minimum deposit is $1,900. VIP traders can have access over more than 100 different trading assets. VIP account holders also have their own personal managers.

Trading Conditions

The website of IQ option is very much user-friendly and easily manoeuvrable. The traders signing up for both real and VIP accounts are given a wide array of different tradable assets. If we delve into IQ Option’s trading conditions, we would find:

Assets: IQ option offers all three kinds of assets to the investors including Forex, Cryptocurrency, and Stocks. They offer 27 currency pairs including EUR/USD, GBP/ USD, USD/CAD, etc. to the Forex traders while providing the leading 15 cryptocurrencies to the crypto-traders. For the investors interested in stock market, they offer 433 different stocks from companies like Microsoft, Google, IBM, Apple, and many others. They offer 66 options for the option traders as well. 

Minimum Deposit: The minimum deposit amount for all kinds of traders having a real account is $10 whereas the VIP account holders have to possess at least $1,900 as the initial trading deposit.

Negative Balance Protection and Spreads: IQ Option also protects their traders from acquiring a negative balance during certain trading procedures. This website also offers tighter spreads and does not demand any commission form the investors.

Trading Instruments

IQ Option offers two major trading instruments for their registered traders namely the binary option and digital option.

Binary Option: In case of binary option, the payoff amount is fixed beforehand and is structured on the basis of the amount of indemnity the trader should receive if the trading expires. These options last for a very short period of time and offers considerable returns on investments.

Digital Option: The only difference of digital option for the binary option is that in this case the payoff amount can be manipulated by changing the strike price. Digital option is also becoming very popular among the traders of South Africa for its flexibility.

CFDs on Stocks

  • Assets:  30 tradable assets from renowned organisations including Facebook, Google, Apple, Amazon, IBM, Microsoft, and many more.  
  • Maximum leverage: x10 (T&Cs Apply)
  • Spreads: Reasonable tighter spreads that might vary according to market condition

CFDs on Stocks

  • Assets: Currency pairs including Euro, US Dollar, Canadian Dollar, Great Britain Pound, Japanese yen, Swiss Franc etc.
  • Maximum leverage: x500 (T&Cs Apply)
  • Spreads: Reasonable tighter spreads that might vary according to market condition.

CFDs on Cryptocurrencies

  • Assets: 15 major cryptocurrencies  consisting of Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Dash, IOTA, Zcash, Omisego, Tron, Stellar Lumens, Bitcoin Gold, Ethereum Classic, Qtum etc.
  • Maximum leverage: x5 (T&Cs Apply)
  • Spreads: Reasonable tighter spreads that might vary according to market condition

On the IQ Option trading platform, the leverage tool is termed as the multiplier. Their development team is also about to implement other innovative options like ETF very soon. As for the cryptocurrency traders, this website offers Open Trading Network tokens or OTN tokens for buying real cryptocurrencies from legitimate currency exchanges.

Trading Platform

IQ Option depends on its own unique software program unlike other websites and goes through frequent developmental updates for making further ameliorations. They endeavour to offer a very user-friendly as well as accurate trading platform for their traders. The trading platform is suitable for both inexperienced and veteran traders and is supported on browsers like Mozilla Firefox, Google Chrome, etc. along with operating systems like iOS, Android, and Windows.

IQ Option Tournaments

IQ Option arranges free weekly tournaments for non-EU traders from various financial markets. Despite the risk factor, these tournaments can be highly rewarding to the participants as the traders would get to take part on other paid tournaments absolutely free of cost upon winning.

IQ Option App and Download

Interested traders can easily download the IQ Option app form Google Play Store as well as Apple Store. As the trading platform of this brokerage website is supported by both iOS and Android, any Smartphone holder can use this ingenious application for trading various assets.

Deposits and Withdrawals

In the brokerage website of IQ option, the traders can have a fast and accurate deposit and withdrawal system – even possible without paying any commission. Options like credit cards, wire system, and eWallets are always available for conducting such procedures. IQ Option accepts a vast range of cards including Mastercards, VISA, Maestro, and eWallets. For eWallets, the withdrawal process usually takes one business day whereas for wire transfer it can take as long as 10 business days.
Please note that there is 53$ fee for withdrawals via bank transfer. So we recommend using eWallets.

Demo Account

The demo account of IQ Options has been proven to be extremely effective for novice traders as it provides a significant number of useful trading tools such as currency charts for getting accustomed to the current trading methods. The demo account holders are given $10,000 as virtual money for practising their trading prowess before opening a real or VIP account.


IQ Option’s education section is accessible to everyone and comes with several tutorials and trading tools like candlesticks charts to educate the newcomers with the nuances of Forex, CFD, or cryptocurrency trading.

Customer Service and Support

This website offers a 24×7 customer service to their clients and answers every possible query. The traders can also email their personal queries and complaints to This website offers their customer support in multiple languages as well suitable for traders who are not well-versed in English.

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Abir Rayhan Joy

Abir Rayhan Joy

Web Designer

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