IQ Option

IQ Option, headquartered in Mexico, stands as an online trading platform that offers a wide array of financial instruments to its users. Traders utilizing the platform gain access to a diverse range of tradable assets through its trading platforms. IQ Option offers multiple account types, including Demo, Real, and VIP accounts. However, it operates without regulatory oversight and there are no ways to contact them.

Here is the home page of this brokers official site:

Pros and Cons

Is IQ Option Legit?

IQ Option is not regulated. Besides, there is no access to contact them. This delay can give malicious actors more time to cause damage, resulting in significant financial losses for the users.

What Can I Trade on IQ Option?

IQ Option offers contracts for difference (CFDs), binary options, digital options, stocks, cryptocurrencies, currencies (forex), commodities, and indices.

Account Type

IQ Option offers Live and VIP accounts. You will fund live account in your personal account with a minimum deposit of $10.

The VIP Account offers extra services like VIP webinars, a personal manager, faster withdrawal of earnings, and a higher profit percentage from binary options. In Mexico, to become a VIP, you need to deposit $4,000 in the last 60 days and achieve a trading volume of at least $15,000 within 90 days.

Besides, it also offers demo accounts. You are allocated $10,000 to familiarize yourself with the platform's features and try to make trades.

Leverage

IQ Option offers leverage up to 1:500. Traders could face substantial losses, so its essential to use leverage cautiously.

Trading Platform

IQ Option provides its trading platforms on Windows, Android, and iOS devices.These trading platforms offer many tools include news, video tutorials, wide selection of assets, types of charts, indicators for technical analysis, and so on.

Deposit and Withdrawal

IQ Option supports wire transfer, electronic payment systems, e-wallets, bank and credit cards to make a deposit or withdrawal. E-wallets includes Skrill, Neteller, WebMoney, PerfectMoney, and AdvCash.

The minimum withdrawal amount by conventional methods on the platform is $2. After confirming the transaction, the user must wait for confirmation of the request by the system. Usually this process takes 1 to 3days at most. Besides, there are commission-free payment methods.