IQ Option Review for India: Is it Safe or Scam? [updated in 2024]

Since the complete inception of IQ Option in 2013, they have developed and maintained a fast-growing trading platform in the industry. On top of that, they are one of the most common preference platforms for traders of any level of experience.

Interestingly, the number of traders actively involved in the IQ Option platform experiences a massive increase year after year, and the brand keeps growing. In 2018, the platform recorded more than 41 million newly registered traders.    

IQ Option doesn’t operate on a customary standard system platform. Rather, it runs on a proprietary custom-built platform that appreciates the needs of its users. As a result, users will find it easy to navigate through the platform’s interface.

Within the trading platform, traders are allowed the option to trade a variety of financial options and instruments such as stocks, digital options, cryptocurrency, and other commodities.  

From all indications, IQ Option is a trusted broker with a long-lasting history. So far, there are no allegations of a proposed scam or anything suspicious. The platform runs a fully regulated system.  

Additionally, the platform has sustained a reasonably stable and high conversion to its domain:  eu.iqoption.com and IQoption.com. This is to signify that traders are satisfied with every one of the services provided on the platform. With a duly registered certification from several European regulators like Bafin British FCA (EEA Authorized – Reference number 670182), Consob, and CNMV, it is almost impossible to conclude the platform as a scam.  

Simply put, IQ Option is a highly reliable and trustworthy trading platform, where you can trade safely and with a peaceful mind.

Awards & Acclamation

As previously mentioned, IQ Option is an award-winning platform. Its list of awards is long and astounding. Here are some of the most spectacular ones:

• 2017 Award of Excellence 

This award is presented by The Academy of Interactive & Visual Arts and is one of the highest honors a platform can receive. 

• Century International Quality Gold ERA Award

Due to the platform’s commitment to excellence and quality, as well as its impeccable customer support, it is awarded the Gold ERA award from the Business Initiative Directions Group. 

• 2015 Best Trading Broker Europe

Global Banking and Finance Review awarded IQ Option for its amazing quality. 

• Fastest Growing Online Trading Brand by Global Brands Magazine
• 2014 World’s Leading Trading Broker by MasterForex-V
• 2014 Best Trading Platform at the Forex Awards

As you can see, IQ Option boasts numerous acclamations; too many to list. In addition to the platform, the IQ Option’s mobile app has also claimed a number of awards, which are discussed in the App Overview. 

Partnerships & Testament to Quality

Even though the platform has existed for a relatively short amount of time, it has made amazing progress. Since its launch in 2013, it managed to partner up with some of the most popular companies in the world. 

One of the most notable partnerships is that with Aston Martin Racing. The partnership was announced on February 15th, 2016 and lasted the whole 2016 season. 

The managing director of Aston Martin Racing, John Gaw, said in relation to this partnership: “We warmly welcome IQ Option to the Aston Martin Racing family and we particularly look forward to including them in our wider 2016 plans. While their branding will feature prominently on all AMR  race cars throughout the season, there’ll be an exciting new IQ Option livery cloaking on of our entries later in the year.”

IQ Option’s partnership with AMR is proof of the platform’s strength, quality, and success. Its involvement in the universe of Formula 1 racing, as well as the broker’s connection to other affiliates, establishes IQ Option as a trustworthy and formidable platform.

Currently, traders can trade more than 90 different assets and access a variety of stocks, market indices, currency pairs, and other commodities. Additionally, IQ Option is constantly adding more options for traders. The platform has an expansive market for products such as Oil, Silver, and Gold adding up the list of available digital trade asset lists.  

Binary options

If you are interested in binary trading, you are in luck! IQ Option offers its users the option of binary trading. Simply put, binary trading implies predicting the outcome of a certain instrument’s value in a specific time-frame. 

However, the biggest difference between binary trading and regular trading lies in the fact that binary trading has only two outcomes – right or wrong. There is no “in-between”.

The turnaround time can vary due to numerous reasons. Generally speaking, the quickest turnaround times are around 60 seconds. However, you can predict for longer periods of time, including hours and even days.

Forex at IQ Option

At the moment, Forex trades on IQ Option are available across five major currency duos. The platform offers a fixed risk investment for FX and is regulated by the EU. 

There is a potential of having more than a 2000% payout if the trader is capable of predicting whether or not there will be a high price change. Although FX trading is fixed to a $30 minimal stake, they can be traded anytime within the limit of its expiry date. This way, traders can choose to retain their stakes or trade it for less risky options.  

Cryptocurrency and Bitcoin

Another unique thing about the IQ Option platform is its capacity to integrate digital currencies, both as a means of funding and as trade.  More importantly, it embraces the developments in the fundamental resources and fully enhances them.

A good example is the Bitcoin x 100 ranges. These amplify value developments by multiple times, providing remarkable chances for traders to benefit from.

Tools and Indicators

Naturally, as you keep trading, you will notice a number of other tools available to aid you in your decision making. For example, there are 13 indicators available to help you identify various trends and patterns, leading to a profitable trade. Using them individually, or combining them will result in maximizing your profits.

• Average True Range (ATR) shows an asset’s volatility within your chosen time and influences the change rate of quotes
• Awesome Oscillator displays a ratio of two SMAs (Simple Moving Averages), one being fast and another one slow.
• Bollinger Bands show a range for price movement.
• Commodity Channel Index (CCI) measures the speed of price movements.
• Fractals show the minimum and maximum of price curves.
• The Moving Average Convergence Divergence/MACD, as the name suggests shows moving averages converge and diverge.
• Moving Averages (MAs) are subcategorized into Simple Moving Averages, Smooth Simple Moving Averages, Weighted Moving Averages, and Exponential Moving Averages. They are best used in addition to other indicators and can help you examine current trends.
• Parabolic SAR is similar to Moving Averages, and the position of it changes in relation to acceleration and price difference.
• Relative Strength Index (RSI) is an indicator that serves to help you predict a current trend’s strength.
• Volume Indicators provide you with valuable information regarding the amount of bought and sold assets of your choice.
• The Alligator Indicator is crucial for identifying emerging trends.
• The Stoch or Stochastic Oscillator indicators show a difference between the current price and the price from a specific period in the past. As a result, this indicator helps you determine potential reversal points.

• Candle 

Candle charts are the most frequently used on IQ Option. In fact, most professional traders tend to use candle charts, as they provide more information than other charts. Looking at a candle chart may seem confusing at first. However, once you realize how they work, you will be able to acquire extensive technical information.

Unlike Line charts, candles do not display a moment in time. Rather, they are indicators of the price’s range in a specific period of time. As a result, each candle has an opening price, closing price, as well as high and low prices.

The candle’s color depends on the asset’s performance. If the asset’s closing price exceeds its opening price, the color of the candle will turn green. On the other hand, if the closing price is lower than the opening price, the color will turn red.

Candle charts are best used for experienced traders.

• Line

Line charts (or Linear charts) represent the simplest way to display data on the platform. The linear chart is best used by beginners, as it falls behind its more advanced counterparts, such as Candle charts.

Line charts are quite easy to understand: as the prices move up and down, the trend line follows. Additionally, they are best used for short-term trading.

• Bars

You may notice that bar charts look sort of similar to candle charts. While there is a slight visual difference, they work exactly the same way, ie. If the price goes down over a period of one “bar”, the color turns red. Additionally, if the price goes up over the same period, the bars turn green.

Due to its similarity to a candle chart, a bar chart is also recommended for users who have previous experience in trading.

• Heikin-Ashi

The Heikin-Ashi chart helps traders spot current trends. As a result, it is considered a trend-following indicator.

It is a much smoother version of a candle chart. On top of that, it provides extensive opportunities for technical analysis.

The Heikin-Ashi is best used for long-term time frames. Due to its complexity, this type of chart is recommended is not recommended for new users on the platform.

IQ Option offers various banking options to allow traders to make deposits and withdrawals with ease.

Quick and Simple Deposits

IQ Option broker platform offers a secure, rapid method to enable traders to deposit funds into their account to run real-time trading. With a minimum deposit of $10, users can run through any amount of trading transactions starting from $1 and above. 

Unfortunately, Indian traders might not be able to deposit money using various alternatives that IQ Option provides. This is due to the country’s government restrictions on options trading. Hence, they can only explore one option and that is via the E-wallet or Digital wallet means. 

How to fund IQ Option via E-Wallet/ Digital Wallet

Renowned for buying and selling online, IQ Option has integrated this option to foster a convenient and easy transaction.

Although it shares the same input as a credit or debit card option, the major difference here is that it runs on a prepaid or electronic system of carding, as opposed to physical cards. Just like the credit or debit card, funding with this option reflects on your account extremely quickly.

Additionally, funding by eWallet includes no extra charges.  

Other ways you may want to deposit money into your account can be via debit/credit card or wire transfer. However, as previously mentioned, Indian users may experience issues trying to do this. As a result, transferring money by using the e-Wallet may be your best option.

Available e-Wallets run by IQ Option:

Skrill. A very popular provider of universal payment with more than 40 currencies, Skrill has developed into a preferred digital wallet for many. The payment method is as swift as it can be, with a high level of security to ensure your details are safe.  

Neteller. Another leading e-wallet available on IQ Option, this financial service streamlines online payment and transfers very quickly. More importantly, you can withdraw directly from your bank account and access ATMs globally.  

WebMoney. With this digital currency, traders can deposit, withdraw or top-up funds anywhere, at any time.

 Bitcoins

The latest inclusion to IQ Option for making deposits is Bitcoins. At the moment, Bitcoin ranks as the most popular digital currency in the form of cryptocurrency. As such, many traders love to invest in it.

To create an expansive base, IQ Option integrated a system to allow bitcoin as a means to trade on the platform.  

How to top-up your balance via Bitcoin:

To deposit funds via Bitcoin, the process is fairly simple. First, navigate to the Deposit tab and select how much you want to deposit. Here you’ll see a drop-down of available means of payment. From there, click on “Bitcoin.”

After that, navigate to the “Proceed to Payment” option and forward it to the Cubit (the processing provider) payment page. Confirm that the amount in the invoice is equivalent to the BTC. You have to make the confirmation as quickly as you can before the whole invoice expires, which gives you about 15 minutes to finish the whole process. Once your payment is verified, your account balance will be credited immediately.

Hassle-free Withdrawals

Of course, the primary aim of traders on any platform is to earn profits from their trades. When this is achieved, the next option is to make withdrawals. To rectify some bothering questions about withdrawals, we’ve taken the time to talk about withdrawals and deal with any complications Indian traders might encounter.

•  How to withdraw on IQ Option?

For Indian traders, the option of withdrawals is only available to e-wallets/ digital wallets owing to the restriction of bank cards on options trading. Nevertheless, you don’t have to worry much since you’d be getting your money anyways.  

The lowest amount allowed for withdrawal to e-wallets is $2. Meanwhile, traders can make up to $1,000,000 withdrawals daily. Also, there is no limit to the number of withdrawals that can be initiated per day. 

The withdrawal request often takes about 1-3 business days to completely process. However, it might take more than the requested time depending on the service payment provider.