Is IQ Option a scam or legit?

Short answer

We found no evidence that IQ Option is a fake platform that simply takes deposits: it runs a working trading platform under a named company. That does not make it safe. It has no licence from a top-tier regulator, so if something goes wrong there is no supervisor or compensation scheme to turn to. 3 official warnings or alert-list entries name it: CVM (Brazil), MAS (Singapore), and RBI (India).

What we checked

Operating since

2013

Top-tier licence (FCA, CySEC, ASIC…)

No

Official warnings and alert lists

CVM (Brazil), MAS (Singapore), RBI (India)

External dispute body

No

Free demo account

Yes

Minimum deposit

$10

Minimum withdrawal

$2

Official website

iqoption.com

What we found about IQ Option

IQ Option is one of the oldest names here (since 2013), and its group does have a CySEC-licensed company in Cyprus, but that company does not offer binary options. If you trade binary or digital options outside Europe, your contract is with an unregulated offshore entity. Brazil's securities regulator CVM has an open sanction proceeding against it, and Singapore's MAS has kept the brand on its Investor Alert List since 2017. Check which entity you sign up with, and keep the inactivity fee after 90 days without trading in mind.

Red flags

• ✕No top-tier licence: you cannot take a dispute to a financial regulator in your country.
• ✕Named on official warning or alert lists: CVM (Brazil), MAS (Singapore), and RBI (India).
• ✕No membership of an external dispute body, so complaints go only to the broker itself.
• ✕Deposit bonuses come with turnover conditions that can block withdrawals until they are met.
• ✕The product works against you: with a payout of up to 95%, you need to win more than 51.3% of your trades just to break even.

What speaks in its favour

• ✓A track record of about 13 years, longer than many offshore brands survive.
• ✓A free demo account, so you can test the platform without depositing.
• ✓A low minimum deposit ($10) lets you test a withdrawal with a small amount.

Beware of fake IQ Option sites and 'account managers'

Many stories of people losing money 'at IQ Option' involve fake copies of the site, Telegram 'signal' groups or self-styled account managers who ask for your password or for payments to a private wallet. The official address is iqoption.com. Type it yourself or use the official app, never send money to a person, and never share your login or two-factor codes.

How to protect yourself

1. 1Start with a small deposit, close to the $10 minimum.
2. 2Complete identity verification before you need to withdraw.
3. 3Request a small test withdrawal early, before you add more money.
4. 4Skip bonuses unless you have read the turnover rule: a bonus can lock your balance.
5. 5Turn on two-factor authentication.
6. 6Only trade money you can afford to lose: most retail traders lose money on fixed-time trades.

Frequently asked questions