Is IQ Option a legit online trading broker?

Trusted Online Trading Broker? IQ Option?

Is IQ Option a legitimate online trading broker?

Trading brokers have been coming up since the mid-2000s. Many have gone under because of the intense laws and limitations being presented by overseeing bodies. Others were essentially trick stages out to make traders' money before closing shops.

IQ Option is one of the popular online brokers that has been around for several years. But does being around for some time make them a legit platform to invest your money with? This guide will give you the answers to all your questions.

IQ Option is an online trading broker, the company offers financial instruments such as forex, options, stocks, commodities, CFDs, and cryptocurrencies. The company offers its products to traders from different regions including Latin America, Europe, and Asia. They’ve also won several awards and continue to evolve and introduce new features that make trading easy.

But can you really make money trading on IQ Option?
Like with any other broker joining IQ Option doesn’t guarantee that you will make money.
Trading in financial instruments carries some risk and the majority of traders eventually lose their money. However, the few that actually make money do so because of their knowledge of the markets, use of proven trading strategies, and having psychological stability to follow their trading strategy through.

IQ Option scam or legit broker?

One of the easiest ways to determine a website’s standing on the web is through third-party sites. I used a website to view IQ Option’s standing compared to other online finance and investment institutions. IQ Option Standing at 10th position, this gives it a good reputation among online trading brokers.

Another thing I looked at is the distribution of the countries traders come from. From the results, IQ Option has visitors from over 250 different countries which means all over the globe. It’s safe to say that the majority of these are actual traders and it's not a scam. The good thing is that no one country has over 20% visitors meaning IQ Option is trusted by traders from all across the globe and you can trust it too.

IQ Option is fully regulated by CySEC

IQ Option was established in 2013 and was licensed by CySEC. Their main function is to oversee financial institutions that handle customer deposits so if you are depositing in IQ Option you are in a safe hand.

CySEC guarantees IQ Option for traders to deposit funds.
Like other financial authorities, CySEC will keep a watchful eye on IQ Option’s activities and their financial activity. This includes ensuring that trader funds are kept separate from IQ Option operating funds in case of emergencies.
It also ensures that in case of IQ Option goes bankrupt, traders are refunded. But if you have any disputes with IQ Option, it’s advisable to first contact their support team to see if can be resolved because most of the time customer support will solve it.

General risk warning: your capital is at risk

IQ Option complaints

Online brokers will attract traders and complaints with time no matter how much they try. IQ Option is no exception. The most common complaint traders came across was delayed withdrawals.
This is a common problem across many online platforms. However, the good thing is that no trader has ever complained that the platform withheld their funds. The delay in most cases is because of improper documents or unverified accounts.

In the end, IQ Option is a legit online trading broker that serves traders across the globe. It’s a good place to make money trading different types of financial instruments. If you’re considering becoming an IQ Option trader or want to try their platform free of cost, I suggest trying the IQ Option demo account first. Just to get a feel of how the platform works which is free of cost.

NOTE: This article is not investment advice.