Is IQ Option a Scam? Beware, Read our Review First

IQ Option, also known as BBinary for short, is a privately held trading and investment company with a wide spread presence in around over 80 countries, some of which includes countries in and around Europe, India, Middle East, and North America. With its headquarters more

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Broker IQ Option
Website URL
Founded 2010
Headquarters New York, Cyprus
Support Types Live Chat, Phone, Contact Form
Languages English, Français, Deutsch, Español, Italiano, العربية, 日本人
Trading Platform Spot Option
Minimum 1st Deposit $500
Minimum Trade Amount $25
Bonus 100% bonus applies to first deposit
Free Demo Account
Deposit Methods

Deposit Options

Deposit options on IQ Option are flexible as clients can deposit via any of the following:

  • Bank Wire Transfer (International and/or Domestic)
  • Credit Card (Processed via IQ Option) Visa, MasterCard, Diners Club, Third Party Credit Card (Processed via MoneyBookers), MoneyBookers E-wallet, AlertPay

Number of Assets 90+
Account Currency USD, GBP, EUR
US Traders Allowed
Overall Score 4/5


  • No longer allows US traders
  • No bonuses given on micro accounts

Full Review

IQ Option, also known as BBinary for short, is a privately held trading and investment company with a wide spread presence in around over 80 countries, some of which includes countries in and around Europe, India, Middle East, and North America. With its headquarters on Wall Street in the city of New York, IQ Option is a global firm that prides itself in the provision of Binary Option Trading Technology, also known as digital options, binary betting, but more commonly referred to as binary options.

IQ Option was formed in late 2000s just around the emergence of the global financial crisis. Did I hear you say they are new? Yes, they are new, and are into the business of providing portfolio for professional service solutions via a revolutionary investment strategy and model that makes use of offshore, and regional operations to see to the yearnings of the commercial as well as private sectors.
Having said that, at IQ Option our team of financial professionals and IT experts delivers a sophisticated 24/7 Binary option trading service to online brokers, private banks, private investors and other financial services firms.

Trading Bonuses Available To New Customers

IQ Option offers traders several trading bonuses that include free trades, incentives like ipads, or more.

Deposit Bonuses

  • Traders can receive up to 100% on their first deposit.
  • VIP accounts should contact support after they open their account and before they deposit a large some of money because you can be put on a regular bonus schedule based on your trading volume.
  • High volume traders or traders who trade large amounts will receive no deposit bonuses.
  • Bonus account money can be used to leverage up trades around big volatility events.
  • Bonuses are given for regular traders with regular average accounts as well.
  • IQ Option gives a bonus on your redeposits.
  • Bonuses are also given out on refunded trades.

BBinary.coms Core Business Business Is Retail Investors

With retail investors as their primary focus, they are committed towards delivering superior standards of customer support, training and education, as well as security of funds held at IQ Option. It should be stated here that clients at IQ Option are backed by informed market analysis, live news updates, improved research, and a user-friendly online banking experience that can be accessed anywhere.

Trading Website Platform

IQ Option is completely web based so its compatible with your web browser, iphone, ipad, and android tablet, and remember their site is accessible from anywhere in the world. So if youre in Dubai on vacation, yes you can still trade binaries with BDB.

I personally trade the EUR/USD mostly for Forex as that pair I have the best feel for. Especially with how correlated the markets are right now to the Euro/US Dollar relationship.

After you make your trade a little approve window pops up and you have 2 seconds to approve the trade or not. If you dont approve the trade it never goes through. That can be good and bad. If you want that trade make sure you make the extra click.

Once the trade goes through, you can keep track of its progress at the bottom of the page.

Complaints Of

The biggest complaint regarding IQ Option is the deposit amount. Its $500 compared to the usual $200-$250 at some other brokers. Some customers have claimed IQ Option as a scam operation, but its not true. Most of the scam complaints revolve around not being able to cash out their bonus money without qualifying the correct trading amounts before the bonus is cashable.

Unique Features of IQ Option

IQ Option has the usual digital options trades available such as high and low and one touch which can be found at many other binary option brokers, however, they also offer a unique thing called option builder. This is where you customize the binary trade by picking the asset, the expiration time frame, the hour, the minute, and as well as the risk limits and payback you want to build into the trade.

All the listed deposit methods are instant and will thus appear on your trading account balance history within minutes of filling in the transactions. To be able to deposit into trading account, you’ll have to create an account (live account), login to your trade portal, click on the ‘Deposit” button that appears on the top right hand side of the web page.

Furthermore, you are required to select your most suitable deposit method, fill in your information, and wait for a deposit confirmation from IQ Option. Once that’s confirmed within minutes of initiating the deposit, you’ll get an updated balance on the top right hand side of your web page. You are good to go and can now start trading.

Some of the above mentioned deposit methods have limits. For instance the Credit Card method has a minimum deposit of $500 with no maximum limits, Third Party Credit Cards have a minimum of $500 and a maximum deposit of $1,500, and Wire Transfer deposits have a minimum of $1,000 with no max limits. Others include Money Bookers and Money Bookers VIP, that both have a $500 minimum and a $1,000 max, and an unlimited deposit max and minimum respectively.

In a bid to stem illegal financial transactions, a threshold of $5,000 is placed on deposits for Unverified Accounts. A necessary upgrade is required for accounts to get the verified status, and you’ll be required to contact support desk on IQ Option.

Conclusion of IQ Option Options

Having said that, I’m of the opinion that this broker is one of the best at customer support as you get live chats online with customer care and can also converse via skype. You’ll always get connected to someone on the other side at any time you need help on any issue. These agents are always available within 30 seconds by my rough count. This is an essential ingredient for any broker out there and the customer support at IQ Option is excellent.