IQ OPTION Review - Does It Support MT4 and MT5? - WikiFX
Abstract：IQ OPTION only offers the IQ Option APP as their trading platform. But free demo accounts and social trading are available.
| IQ OPTIONReview Summary | |
| Founded | 2007 |
| Registered Country/Region | Antigua and Barbuda |
| Regulation | No regulation |
| Market Instruments | Forex, CFD Stocks, Cryptocurrencies, Commodities, ETFs, Indices |
| Demo Account | ✅ |
| Leverage | / |
| Spread | / |
| Trading Platform | IQ Option APP |
| Minimum Deposit | / |
| Social Trading | ✅ |
| Customer Support | Email: support@iqoption.com |
| Address: The Colony House, 41 Nevis Street, Saint Johns, Antigua and Barbuda | |
| Social media: Instagram, YouTube, Twitter | |
IQ OPTION was registered in 2007 in Antigua and Barbuda, which is a broker focusing on forex, stocks, cryptos, commodities, ETFs, and indices markets. It provides a free demo account and a social trading platform for traders to communicate. However, this company is not regulated, and it does not reveal details about accounts.
Pros and Cons
| Pros | Cons |
| Long operation time | Lack of regulation |
| Demo accounts available | Lack of transparency |
| Social trading platforms provided | No MT4 or MT5 |
| Diverse tradable assets | Limited types of payment options |
| Trading tournaments organized | Inactive fees charged |
| Withdrawal fees charged |
Is IQ OPTION Legit?
No, IQ OPTION is not regulated by financial regulatory authorities in Antigua and Barbuda, which means the company lacks regulation from its registration site. Therefore, please be aware of the potential risks!
What Can I Trade on IQ OPTION?
IQ OPTION provides several types of products, including forex, CFD stocks, cryptocurrencies, commodities, ETFs, and indices.
| Tradable Instruments | Supported |
| Forex | ✔ |
| Commodities | ✔ |
| Indices | ✔ |
| CFD Stocks | ✔ |
| Cryptocurrencies | ✔ |
| ETFs | ✔ |
| Bonds | ❌ |
| Options | ❌ |
| Futures | ❌ |
IQ OPTION Fees
IQ OPTION charges an inactive fee of 10 EUR if the account remains inactive for 90 days. Besides, it also charges termination fees, which can be up to 5 EUR.
Trading Platform
IQ OPTION uses its own trading platform, and it does not support MT4 or MT5.
| Trading Platform | Supported | Available Devices | Suitable for |
| IQ OPTION APP | ✔ | PC, web, mobile, mac | / |
| MT4 | ❌ | / | Beginners |
| MT5 | ❌ | / | Experienced traders |
Social Trading
IQ OPTION provides a trading community platform, which enables traders to communicate and share their experiences.
Deposit and Withdrawal
IQ OPTION supports electronic payment systems, bank cards, and wire transfer options. Besides, traders can have a free withdrawal per month.
| Withdrawal Options | Minimum Withdrawal | Withdrawal Fees | Withdrawal Processing Time |
| VISA/MasterCard | 2 EUR/GBP/USD | 2%, max 30 EUR/25 GBP/30 USD | Instant |
Trading Tournaments
IQ OPTION holds different types of trading tournaments, and the prize pool varies. Take the current tournament for example, the prize pool is $3,000.
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