FXChoice Review and Detailled Analysis 2021
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FXChoice Review and Detailled Analysis 2021

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Launched in 2010, FXChoice is a Belize regulated online broker accepting clients worldwide. They offer some competitive trading conditions such as flexible leverage, accounts and trading platforms for all levels of trader.

Table of Contents

In this detailed FXChoice review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

FXChoice Overview

Launched in 2010, FXChoice is a true electronic communication network (ECN) broker that offers traders across the globe competitive fees and good trading conditions on multiple assets across a wide range of markets including Forex, Commodities, Cryptocurrency, Stocks, Shares, Indices, Metals, Energies & CFDs.

FXChoice execute a trade every 4 seconds on average with daily transaction totalling over 15,000. They are always looking to further improve trading conditions by incorporating new technology to ensure tight spreads and fast execution.

They are committed to providing ethical business practices, a safe and reliable trading environment with excellent customer service to give clients a trusted and transparent trading experience. This is backed by non-dealing desk (NDD) technology so no conflict of interest and dedicated security for client’s funds.

FXChoice have won awards for their friendly and multi-lingual customer service. Clients are made to feel welcome, with no question too big or small and a dedicated support team on hand to assist you in the best possible way. Online reviews are very positive overall with good feedback from multiple respected sources.

FXChoice Regulation

The FXChoice brand is part of FX Choice Limited who are authorised and regulated by the International Financial Services Commission of Belize (IFSC). With only this offshore regulation, clients may not have the same protection in the event of any disputes or insolvency as they would with a broker who is regulated by a more established regulatory authority.

That being said, FXChoice hold client funds in segregated accounts that are separate from their own company accounts and can therefore not be used for any other purpose.

There is an internal risk management team who monitors management operations to ensure that they comply with regulatory policies.

They have a no debit balance guarantee which means that your trades will automatically be closed before your account balance becomes negative. Should this safety mechanism not work due to extraordinary circumstances, they claim to zero your account balance.

FXChoice Countries

Due to offshore regulations, FXChoice are able to accept clients from most countries. They do not accept clients from Afghanistan, Belize, Iraq, Italy, North Korea, Spain, Sudan, Syrian Arab Republic, Guam, Northern Mariana Islands, Puerto Rico, U.S. Virgin Islands, United States Minor Outlying Islands and American Samoa.

Some FXChoice broker features and products mentioned within this FXChoice review may not be available to traders from specific countries due to legal restrictions.

FXChoice Platforms

FXChoice offer the worlds most popular trading platform – MetaTrader 4 (MT4). They also offer MetaTrader 5 (MT5) which has new features for more advanced trading. Most brokers are still offering MT4 whereas MT5 has not yet reached the same level of popularity as its predecessor.

MetaTrader 4 (MT4)

MT4 was developed by Russian company MetaQuotes and has won multiple awards. The FXChoice version of MT4 combines the platforms standard features with real-time price feeds from global markets, fast execution speeds, competitive conditions and interbank liquidity.

MT4 is suitable for all levels of trader. It has a user-friendly interface and multiple built in tutorials for beginners whilst having a great range of technical indicators and functions for the more advanced traders.

MT4 tools include technical indicators for analysing charts, multiple chart time frames, multiple order types, strategy templates, automated trading via expert advisors (EAs), custom indicators and much more.

The FXChoice website includes videos with useful tips on how to use MT4. MT4 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).

MetaTrader 5 (MT5)

MT5 is not just a new version of MT4, but rather a completely new platform with new features that build upon the success of MT4. For those familiar with MT4, the most important features are still there with a few more to enhance the overall trading experience.

MT5 features include more order types, depth of market display, additional indicators, additional time frames and a powerful EA testing environment with real tick data.

MT5 is available on desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).

MetaTrader Mobile

FXChoice offer both MT4 & MT5 platforms for mobile trading which is useful for those who need to trade on the go whilst away from their computer. You can access the platforms on your Android or iOS device to follow the markets and manage your positions. The MetaTrader apps are available free to download from the relevant app store.

Web Terminal (MT4 & MT5)

The Web Terminal, available for both MT4 and MT5 users, allows you to trade via a browser without the need for downloading and installing any software.

Users can trade directly from their FXChoice account in their preferred browser, saving time and hard drive space. You simply log in to your account and start trading via the web terminal.

The web platform’s interface is similar to the award-winning desktop version and is therefore just as easy to use. The following functions are available in the Web Terminal:

  • All trading operations: placing market and pending orders
  • One-click trading (MT5 Web Terminal only)
  • Real-time quotes displayed in the Market Watch
  • Fully customisable price charts
  • 9 chart time frames
  • Basic analytical objects: horizontal, vertical and trend line, channels and Fibonacci lines
  • Universal access to trading activity

Web terminal is supported on the following browsers, Internet Explorer, Microsoft Edge, Mozilla Firefox, Google Chrome, Safari & Opera.

FXChoice Trading Tools

FXChoice have a variety of third-party tools that can be used by clients looking for flexibility and assistance with their trading activities. Some of these tools are automated and will copy signals from other traders. It is imperative that you understand the risks involved with trading and do not take historical performance as a reference for future results.

MQL5 Signals

MetaQuotes, the developers of the MetaTrader 4 & 5 platforms, offer a unique trading signal service which allows clients to copy the trades of other signal providers. You may also offer your own trading signals through this service.

The signal service is built into the MetaTrader platforms and requires no additional third-party software installation. Signals can be used as they are or alongside your own manual and automated trading systems. There is a large base of signal providers to choose from for a weekly or monthly fee and trades are copied directly to your platform.

The FXChoice website contains an easy to follow and well explained tutorial video showing how to subscribe to the signals.

Myfxbook Autotrade Service

This service allows you to copy signals of traders who have their accounts published on the popular social trading website Myfxbook. You can browse through the different accounts, review performances and choose to mirror the trades of any account without any additional software required. In order to be able to use the Myfxbook service, your FXChoice account must be funded with at least $1,000.

FXChoice VPS

FXChoice offer clients their very own VPS (Virtual Private Server). A VPS is your own dedicated source of stable power and resources that allows you to run your trading platform 24/7. This can be useful if it is not possible to have your computer on all the time and you wish to run an automated system. It is also useful for potentially reducing latency by using a VPS located nearer the trade servers, which can increase execution speeds.

FXChoice clients who have a balance of $3,000 or more and trade at least 5 lots during each monthly billing cycle can claim a free VPS. The VPS comes with MetaTrader pre-installed.

Live Economic Calendar

The economic calendar keeps you up to date with the latest market news events that are taking place. You can set the calendar to your own time zone and indicate your country and sector preferences to only see news relevant to you. Using the news calendar can help with fundamental analysis and making informed trading decisions. The service is free to clients and available from within the FXChoice back office.

Pips+ Programme

The Pips+ programme is a way for active traders to reduce their trading costs. The programme consists of five tiers and all MT4 & MT5 Pro account holders are automatically enrolled.

As you work your way up the tiers, the trading commissions decrease. To upgrade through the tiers, clients can increase trading volume or deposit more equity.

FXChoice Education

Whilst there are some FAQs covering general questions and some basic market and platform questions, FXChoice do not currently have a dedicated educational section on their website. Should you wish to learn more about trading, website such as babypips.com and forexfactory.com are popular amongst the trading community.

FXChoice Instruments

There are a wide variety of Forex & CFDs available to trade, catering for all different types of trader.

Forex CFDs Specifications

The Forex market is the world’s largest financial market, with over $4 trillion passing through it every day. This large volume brings about liquidity and flexibility for a trader’s strategy. There are over 35+ major, minor and exotic FX currency pairs to trade through FXChoice. This includes the popular EURUSD, GBPUSD, USDCHF & USDJPY currency crosses.

Crypto CFDs Specifications

Cryptos are online currencies based on complex mathematical algorithms that have continued to increase in popularity over recent years. Trading Crypto CFDs allow an investor to speculate on them without actually directly owning them. As they are decentralised, Cryptos are independent from government interference. FXChoice offer some of the most popular Cryptos, including Bitcoin (BTC), Litecoin (LTC), Ethereum (ETH).

Indices CFDs Specifications

Index CFDs are often seen as a way to diversify a portfolio because rather than investing in one company, you are investing in multiple companies throughout a specific market sector. FXChoice offer index CFDs on USTECHIndex, US500Index, US30Index, UK100Index, JAPANIndex, DXY, DE30Index.

Commodity CFDs Specifications

Commodity CFDs allow you to speculate on a commodity such as precious metals (gold, silver), energies (oil, gas), without actually having to own the underlying asset. These are often considered as safe havens and included as part of a diversified portfolio.

FXChoice Accounts & Fees

FXChoice have two main account types, the classic and the pro. If you wish to use MT5 and have all trading instruments, you will need to open a pro account.

MT4 Classic Account

The classic account has commission built into the spreads, which start from 0.5 pips. Spreads will tend to be higher due to the account being commission free, but this can help simplify calculating trading costs. Minimum deposit required is $100, minimum lot size 0.01, maximum lot size 1000 lots, leverage up to 1:200, hedging/scalping/EAs allowed.

MT4/5 Pro Account

The pro account charges an additional commission up to $3.5 on top of the spreads which come from direct market liquidity provided by some of the largest banking institutions in the world. Spreads will tend to be significantly tighter than on the classic account and start from just 0 pips. If your strategy requires tight spreads this may be your account of choice.

Another distinguishing feature of the pro account is that they boast a significantly wider selection of tradable instruments. Minimum deposit required is $100, minimum lot size 0.01, maximum lot size 1000 lots, leverage up to 1:200, hedging/scalping/EAs allowed.

Multi-Account Management (MAM) Account

FXChoice offer a MAM service to experienced traders who have their own client base and wish to trade on their behalf. A MAM account is a propriety account that enables competent traders to manage funds for an incentive fee that is dependant on the account’s performance. You can submit the application on the website if you wish to apply for an FXChoice MAM account.

As broker fees can vary and change, there may be additional fees that are not listed in this FXChoice review. It is imperative to ensure that you check and understand all of the latest information before you open a FXChoice broker account for online trading.

FXChoice Support

Competent and friendly multi-lingual global support is available 24 hours a day 5 days a week via online chat, telephone and email.

FXChoice won the best customer service challenge award from the LiveHelpNow Challenge which ranks the top 100 providers of superior customer service. These rankings are data-driven, based on metrics provided daily to client dashboards. Measured against 12 unique values, Challenge winners are amongst some of the best customer service providers in their field. The achievement reflects the professionalism, skill, care and constant endeavour to provide better customer service. This is what defines companies who rank among the top 100 in a global field of more than 10,000 businesses.

FXChoice Deposit & Withdrawal

FXChoice have several different ways to make deposits and withdrawals, focused on making it as easy and flexible as possible. The minimum deposit for all account types is $100 or the equivalent in another currency.

The method you choose may depend on how long it takes to process. If you want something quick then you may consider an online payment processor such as Skrill or Neteller. Please note that some methods may only be available to specific countries.

Some fees may be charged when using certain payment methods. Bank transfers may take a few business days to clear whilst some methods such as card payments can be instant.

Accounts can be opened in USD, EUR, GBP, CHF, AUD, CAD, Gold, Bitcoin, Bitcoin Cash, Litecoin, Ethereum and XRP. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

FXChoice use advanced encryption technology to help guarantee your privacy and security when transactions are being processed. All communication data is encrypted using SSL technology (Secure Socket Layer).

FXChoice Account Opening

Opening an account with FXChoice is a quick and easy process. You simply complete the short online form and verify your email address. Following on from that you will need to submit some form of identification such as a passport scan and proof of residential address such as a utility bill. Once your account has been approved, you can make a deposit and commence trading.

FXChoice Summary

FXChoice is a flexible and transparent online broker that despite only being authorised and regulated in Belize, still offer competitive trading conditions with reasonable fees to clients across the globe, excluding some countries. The minimum deposit, leverage and trading platforms offered make them accessible to all levels of traders.

Forex, spread bets and CFDs are leveraged products. They may not be suitable for you as they carry a high degree of risk to your capital and you can lose more than your initial investment. You should ensure you understand all of the risks.

IQ Option Review

IQ Option is a regulated and award-winning online broker offering a vast amount of trading instruments across multiple asset classes. The online platform is very intuitive and packed with tools delivering a superior trading environment for all levels of trader.

Table of Contents Fout! De hyperlinkverwijzing is ongeldig.

1 IQ Option Review, Pros & Cons

2 IQ Option Overview

3 IQ Option Regulation

4 IQ Option Countries

5 IQ Option Platforms

5.1 IQ Option Platform Interface

5.2 IQ Option Platform Assets

5.3 IQ Option Platform Charting

5.4 IQ Option Platform Trading

5.5 IQ Option Platform Graphical Tools

5.6 IQ Option Platform Indicators

5.7 IQ Option Platform Widgets

5.7.1 Sentiment Widget

5.7.2 High & Low Values Widget

5.7.3 Trades of Other People Widget

5.7.4 News Widget

5.7.5 Volume Widget

5.8 IQ Option Platform Templates

5.9 IQ Option Platform Account

5.10 IQ Option Platform Community Chat

5.11 IQ Option Platform Market Analysis

5.11.1 News Feed

5.11.2 Calendar

5.11.3 Earnings Calendar

5.11.4 Crypto Calendar

5.12 IQ Option Platform Video Tutorials

5.13 IQ Option Platform Alerts

6 IQ Option Trading Tools

6.1 News Feed

6.2 Historical Quotes

6.3 Calendars

6.3.1 Economic Calendar

6.3.2 Earnings Calendar

7 IQ Option Education

7.1 Stock Collections

7.2 Industries

7.3 Video Tutorials

8 IQ Option Instruments

8.1 Forex

8.2 Options

8.3 CFD Stocks

8.4 ETFs

8.5 Cryptos

8.6 Commodities

9 IQ Option Accounts & Fees

10 IQ Option Support

11 IQ Option Deposit & Withdrawal

12 IQ Option Account Opening

13 IQ Option Summary

IQ Option Review, Pros & Cons

  • Strict regulations
  • Segregated client funds
  • Investor Compensation Fund (ICF)
  • Large range of trading instruments
  • User friendly platform with many features
  • Advanced trading tools
  • Charitable work
  • Award winning
  • No US clients
  • Restricted leverage for non-professional clients
  • No fixed spread accounts

In this detailed IQ Option review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

IQ Option Overview

IQ Option was founded in 2013 and has since grown into one of the largest online brokers with over 20 million members from more than 31 countries using their trading platform. They offer clients a vast range of trading instruments across multiple asset classes including FX Options and CFDs on Forex, Stocks, Crypto, Commodities, Indices and ETFs.

The IQ Option platform is available on all devices and features everything required for efficient trading including a variety of instruments, real time quotes, multiple chart layouts, multiple order types, technical indicators, market analysis, widgets, tools, historical quotes and much more.

IQ Option continuously look to improve the performance of their platform with the latest technologies implemented to ensure that it remains fast and easy to use, catering to the needs of all levels of traders. The average order processing speed is just 0.7 seconds.

IQ Option members are provided with a vast array of trading tools including alerts, stock screeners, sentiment analysis, economic calendars and more. You also get the latest financial news along with detailed fundamental and technical market analysis.

IQ Option are frequently adding new products for trading, keeping up to date with the latest trends. There is an online community where you can be inspired and get support from like minded traders, all from within the trade room.

They have won multiple awards for their trading services including Best Technology Application (The Web Marketing Association 2016), Best Trading Platform (Forex Awards 2014) and Best Mobile Trading Platform (IFM Awards 2015).

In 2018, they founded the IQ Option Charitable Foundation whose actions are designed solely and exclusively for the benefit of children who through no fault of their own cannot enjoy the basic privileges and comforts that every child should be able to enjoy and we take for granted. Contributing to the well-being of the less fortunate communities within Africa shows great social responsibility and is highly commendable.

IQ Option Regulation

IQ Option has been licensed and regulated since 2014. They are regulated which gives clients peace of mind that they are using a trusted and reputable online broker that must comply with strict regulatory requirements and internationally recognised financial standards.

IQOption Europe Ltd is regulated in Cyprus by the Cyprus Securities and Exchange Commission (CySEC) with license number is 247/14, hence a European Economic Area (EEA) country which allows them to offer certain products and services to other countries. CySEC monitors the activities of companies offering financial services to ensure that they are acting in compliance with the laws and regulations of the Republic of Cyprus and the European Union.

European companies have some trading restrictions because of the European Securities and Markets Authority (ESMA) influence. ESMA is a European Union financial regulatory agency and European Supervisory Authority, located in Paris. Restrictions include leverage limited to 1:30.

Eligible clients are covered by the Investor Compensation Fund (ICF) which provides protection if there is a claim against a broker who cannot fulfil financial obligations.

Client funds are held in segregated bank accounts away from the company funds. This helps to ensure that funds are not used for any other purpose such as running costs.

IQ Option Countries

IQ Option accepts clients from all across the globe excluding some countries where there are restrictions in place such as the USA, Canada, Australia, Russia, Belgium, Israel, Palestine, Japan, Sudan, Syria, Iran, North Korea.

Some IQ Option broker features and products mentioned within this IQ Option review may not be available to traders from specific countries due to legal restrictions.

IQ Option Platforms

IQ Option offer their very own award-winning proprietary trading platform which is available for desktop (Windows / Mac), web and mobile (iPhone / iPad / Android / Tablet).

The platform is absolutely packed with useful features and thus it would be impossible to cover all of them within this review. You will find below some of the main features that you can utilise within the platform.

IQ Option Platform Interface

The IQ Option platform has a very sleek and user-friendly interface. Everything is neatly organised which provides a pleasant trading environment. The intuitive layout makes it suitable for novice traders whilst there are plenty of advanced features to satisfy the more experienced traders.

IQ Option Platform Assets

The basic function of the platform is to display charts of trading assets. You can easily search for trading instruments by name or by market. When you hover of the instrument you are giving a description and overview. Clicking the instrument opens a new chart for that asset in the platform. You can have multiple assets open at the same time and conveniently switch between them.

It is also possible to click on an asset to get a more detailed overview including prices, charts and sentiment.

IQ Option Platform Charting

The platforms charts are visually appealing and available in multiple timeframes from 1 second all the way to 30 days. Charts display all of the necessary information about the current asset including real time price quotes (bid/ask), the open, close, high and low. You can choose to display charts as lines, bars, candles or Heikin-Ashi. There are multiple chart layouts to choose from if you wish to view multiple charts at the same time.

IQ Option Platform Trading

The platform has simple buttons to quickly and easily enter and exit positions. You can specify the size of the position and time. IQ Option have made trading as simple as possible.

IQ Option Platform Graphical Tools

The IQ Option trading platform has a range of inbuilt tools to assist with your trading. Graphical tools can be used to mark support/resistance, trends and Fibonacci levels.

IQ Option Platform Indicators

There are many technical indicators to choose from such as the moving average, MACD, RSI, Stochastics, Bollinger Bands, envelopes and CCI.

Interestingly, along with the most popular indicators, IQ option offer some additional advanced indicators that you cannot find built in to other platforms such as MetaTrader 4 (MT4). This includes Keltner channels, Aroon oscillator and ZigZag indicator.

Indicators can easily be added and removed from charts in just a few clicks with each indicator having a description and the ability to adjust the input values to suit your trading strategy.

IQ Option Platform Widgets

The platform also has some very useful widgets that you can enable to be displayed within your trading environment.

Sentiment Widget

There is the sentiment widget which displays the percentage of IQ Option traders who are buying or selling the current asset. Sentiment analysis is often used as part of a contrarian trading strategy.

High & Low Values Widget

The high and low widget displays the high and low prices on the chart.

Trades of Other People Widget

The trades of other people widget will allow you to see the trades of other users directly on the chart and displays the history of trades on the asset from the past 3 days.

News Widget

The news widget displays the most recent economic news and can be used as part of a fundamental analysis.

Volume Widget

The volume widget shows what amount of the selected asset was sold and bought within a certain period of time.

IQ Option Platform Templates

Once you have configured and customised the charts to your requirements, you are able to save the templates for using again on other charts now or in the future.

IQ Option Platform Account

Within the platform you are able to see an overview of your account including the balance, amount invested, profit and loss. You can view your total portfolio of open and pending positions along with your trading history and make quick deposits.

IQ Option Platform Community Chat

There is a chat window within the platform where you can talk with other traders about different markets and instruments. From the chat window you can also get support around the clock.

IQ Option Platform Market Analysis

In the platform you can view market news from a number of sources. This can be used as part of a fundamental analysis.

News Feed

The news feed displays the latest market news from a variety of different sources. This news can be used to help find potential trade opportunities and to keep up to date with the latest happenings in the financial markets.

Calendar

The calendar shows the latest economic news releases along with the expected level of impact and markets affected. The current, previous and forecasted results of each release is displayed.

Earnings Calendar

The earnings calendar displays the recent changes in prices of different assets.

Crypto Calendar

The crypto calendar displays previous and upcoming cryptocurrency events along with a rating of importance and link to the events page.

IQ Option Platform Video Tutorials

The platform has a series of built in video tutorials covering a range of topics from trading different markets, technical analysis, fundamental analysis and more.

IQ Option Platform Alerts

You can set alerts for when assets reach a certain price to be delivered through the platform or via push notifications. This can be a good way to monitor the markets whilst not needing to constantly chart watch.

IQ Option Trading Tools

IQ Option have a wide range of trading tools, most of which are built into the trading platform. These tools can be used for analysing the markets as part of a trading strategy.

News Feed

The IQ Option website has a news feed that covers the latest news across different markets from a variety of sources. News can be filtered by asset class.

Historical Quotes

IQ Option offer historical exchange rates of currency pairs and other financial instruments. You can specify the periods of time to view and use the historical quotes for testing strategies and conducting technical analysis.

Calendars

You can keep up to date with the latest economic events and earnings release forecasts using the provided calendars. This can be helpful as part of a fundamental analysis.

Economic Calendar

The economic calendar displays a chronological list of events occurring in the financial world. Events covered include speeches, unemployment reports, inflation indices, resource forecasts, etc. The calendar shows the events impact rating, markets affected and results. Events can be filtered according to user’s preference.

Earnings Calendar

The Earnings Calendar allows you to track companies who are expected to release earnings reports within the next week.

IQ Option Education

IQ Option have some useful educational resources including general trading guides and video tutorials.

Stock Collections

IQ Option have a stock selection where they display different collections of investments. You can view detailed information and historical performance of all the instruments within a collection.

Industries

IQ Option have collected and grouped together different new and established industries. You can view a description of each industry and see the historical performance of all the companies contained within them.

Video Tutorials

The IQ Option website has some easy-to-understand video tutorials covering a range of different topics from the basics of trading, different markets, analysis, financial news and how to use the IQ Option platform.

IQ Option Instruments

IQ Option offer a variety of tradeable instruments across various markets including FX Options and CFDs on Forex, Stocks, Crypto, Commodities, Indices and ETFs.

Forex

The foreign exchange (forex) market is the largest and most liquid with trillions traded every day. Forex trading involves the buying and selling of currency pairs against each other such as the EURUSD, GBPUSD, USDJPY, USDCHF, etc. Currency trading is considered highly volatile.

IQ Option offer over 70+ major, minor and exotic currency pairs with competitive spreads and zero commissions.

Options

Options trading is the speculation of an assets price increasing or decreasing over a specified period of time. IQ Option offer options on 50+ assets including Microsoft, Coca Cola and Tesla Motors. Options are only available to those who qualify as professional clients.

CFD Stocks

A contract for difference (CFD) allows traders to speculate on price movement of assets without needing to physically own the underlying asset. Through the IQ Option platform, you can trade over 180+ stocks from a range of companies listed on the global stock exchanges including Apple, Amazon, PayPal, Twitter, Facebook and many more.

ETFs

An exchange-traded fund (ETF) is an investment fund traded on stock exchanges, much like stocks. ETFs work by tracking commodities, indices, and baskets of assets. They are traded just like a common stock on the stock exchange. Traders can buy and sell their chosen asset.

Cryptos

Cryptocurrency is a digital online currency that is decentralised and based on complex mathematical algorithms.

IQ Option offer 10+ cryptocurrency pairs based on Bitcoin, Bitcoin Cash, Ethereum, Ethereum Classic, Litecoin, Ripple, Dash, Zcash, Qtum, Cardano, OmiseGo, Stellar, EOS, IOTA, NEO, NEM, TRON.

Commodities

You can speculate on the fluctuating prices of various commodity CFDs such as gold, silver, platinum, gas and crude oil (WTI, Brent).

IQ Option Accounts & Fees

IQ Option offer two account types, the standard account and the professional client account. There is also a demo practice account if you would like to familiarise yourself with the platform.

IQ Option do not charge a commission fee, instead the cost of trading is included within the spread. The minimum deposit required to open an account is $10.

The professional account has a lower level of protection and qualification requires a significant amount of trading volume, sizeable portfolio and previous financial experience.

There is an inactive account fee that occurs after 90 days and deducts €10 from your account each month, not exceeding the total balance left in your account.

As broker fees can vary and change, there may be additional fees that are not listed in this IQ Option review. It is imperative to ensure that you check and understand all of the latest information before you open a IQ Option broker account for online trading.

IQ Option Support

IQ Option offer customer support via online chat, telephone and email. They state that online chat responds within just 38 seconds and that emails can be answered in as soon as 14 minutes.

There are more than 90+ multilingual specialist located around the globe who are on hand to assist with any technical or general queries that you may have. The online support chat built in to the trading platform is very convenient.

IQ Option Deposit & Withdrawal

IQ Option provide a variety of convenient methods for depositing and withdrawing funds from your trading account. This includes bank wire, credit card and online payment systems such as Neteller and Skrill. Please note that some methods may only be available to specific countries.

Deposits – Bank Transfer, Neteller, PayPal, Skrill, Visa/Mastercard, WebMoney WME, WebMoney WMZ.
Withdrawals – Bank Transfer, Neteller, Skrill, Visa/Mastercard, WebMoney WME, WebMoney WMZ.

Some fees may be charged when using certain payment methods. Withdrawal requests are processed within the same day or next if outside working hours. The withdrawal time can vary depending on the payment provider and method. Bank transfers may take a few business days to clear whilst some methods can be instant.

Some payment systems may have transaction limits, restrictions, and requirements which are indicated on their respective websites. You may need to verify your account to remove limits on particular methods in some countries.

Accounts can be opened in USD, GBP, EUR, ZAR, RUB. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

IQ Option Account Opening

It is very quick and easy to get started with IQ Option. You can sign in using Facebook or Google or you can create an account using your email address. Once complete, you will be given access to the IQ Option trading platform with a demo practice account. From there you can apply for a real account which will require some documents for KYC purposes such as proof of identification (e.g. passport or drivers license) and proof of address (e.g. utility bill). Once your account has been verified by the accounts team you can then make a deposit via the online platform using any of the convenient funding options available.

IQ Option Summary

IQ Option is a very well-established online broker with a great range of trading instruments across multiple asset classes. It is under strict regulation across multiple jurisdictions. The platform is very user friendly with a vast array of useful tools and features for quick and easy yet informed trading. The charitable work the broker undertakes is very amicable and the online community is a good way to share ideas and meet like-minded traders.

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 77% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

FXChoice Review and Detailled Analysis 2021 Details

Trading Software
Comissions
Min Deposit
Restricted Countries
Regulation
trading-instrument
Broker Type
Leverage
5.0
Price & Leverage
5.0
Trading Options & Tools
5.0
Comisions & Payment options
5.0
Customer Support
5.0 Overall Rating
FXChoice Review and Detailled Analysis 2021
5.0/5
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