IQ Option Review – is IQOption Broker Scam or not

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Is IQ Option a Scam?

Traders get scammed by brokers often, so it is not uncommon to wonder whether one of the most popular brokers worldwide, IQ Option, is yet another scam – but this time, a famous one. So, has IQ Option gotten away with it or is this broker worthy of its name?

We can confidently say that through our careful investigation into this broker we have concluded that IQ Option is not a scam, but truly one of the best and most professional brokers for users in South Africa.

Don’t take our word for it? Check out the five reasons below.

How Do I Know IQ Option is Safe?

1: Regulation

The first thing to look at when considering trading with a new broker is whether this broker is regulated and licensed.

IQ Option is fully regulated with a license in the EU.

IQ Option takes this regulation very seriously, which is an immediate sign of a trustworthy broker that prioritizes user’s safety.

Scam brokers are often non-regulated, fraudulent companies that comply to no rules whatsoever.

2: Transparency

Transparency is key to a company being considered safe and trustworthy.

IQ Option ensures full transparency throughout their entire site with clearly detailed information, a well-explained regulatory status, extensive terms & conditions and banking services.

IQ Option makes sure their business model, compliance and terms and conditions are clear and available for anyone to read. Specifically, through their Terms & Conditions, South African traders can find valuable information regarding binary options trading, different policies and the risks it may entail.

All relevant information is organised and divided into the following categories:

  • Risk Disclosure
  • Privacy Policy
  • Payment Policy
  • Cashback
  • Anti-Money Laundering and Know Your Customer policy
  • Complaints Policy

Commonly, South African traders deposit first and then read the Terms and Conditions, if they even read them at all. IQ Option encourages South African traders to first gather all the necessary information and then to invest their money.

Scam brokers, on the other hand, tend to have vague sites with no real information about how they work and whether they comply to any rules. This is intentional, of course, and users are often misled by professional-looking sites and do not seek this type of information, when in reality it is extremely important.

3: Fast and Secure Withdrawals

Many traders know that the process of withdrawal is commonly a frustrating and long procedure. Some brokers, especially unlicensed companies, do not ever allow users to withdraw their money, which is part of the scam.

IQ Option ensures fast, 24-hour withdrawals for all South African users. The withdrawal process is especially secure and the fact that it is executed in such a short period of time shows that South African investors do not have any difficulties conducting payments or withdrawing their money from this broker.

4: Low Minimum Deposit and Demo Account to Practice

IQ Option is one of the only brokers that allows users to begin trading with only $10.

Such a low minimum deposit is not only extremely rare, but speaks deeper into what IQ Option’s priorities really are. They want to make trading easily accessible to anyone and even offer a free demo account which allows all South African users to practice before investing any money. This means you can practice on the IQ Option platform for free.

They also have several video tutorials available to help new traders understand the process.

Scam brokers never allow users to begin trading with such low minimum deposits and often ask for outrageous sums to only access their platform. This is because their main goal is to scam people into giving money – which they never see again.

5: Reputation

No one can deny the sparkling reputation IQ Option has built throughout the years as one of the best only brokers.

IQ Option is an award-winning broker that is fully regulated, transparent and prioritizes trader’s safety above all else. They are considered one of the top and safest brokers for users in South Africa.

Now even though a broker’s reputation is not an immediate indicator that the company is really trustworthy, IQ Option continues to prove its excellent reputation every day.

We can personally state that we have received absolutely no complaints regarding IQ Option throughout the years, but only satisfied customers that recommend IQ Option themselves.


IQ Option is not a scam, but one of the best brokers for users in South Africa.

IQ Option Review


IQ Option Ltd, founded in 2020 in Seychelles, is a binary options , forex and crypto broker that considers to be the most innovative and reliable in the market. They are the official partner of Aston Martin Racing.


Broker IQ Option
Website URL
Founded 2020
Headquarters Seychelles / Cyprus
Support Number +65 3163 7458 ( Singapore ) , +91 000 800 040 13 61( India, Toll-free) , +66 2 104 07 95(Thailand) , +27 87 550 21 61 ( South Africa )
Support Types E-mail , Live Chat , Phone
Languages English , French , Russian , Spanish , German , French , Italian , Portuguese , Turkish , Indonesian
Trading Platform IQ Option 4.0 ( Propietary )
Minimum 1st Deposit USD $10
Minimum Account Size USD $10
Minimum Trade Amount USD $1
Bonus Free $10,000 Demo Account
Max. Payout Up to 91% *amount to be credited to account in case of successful trade
Free Demo Account Open Demo
Deposit Methods Paypal , Credit Cards , Liqpay , Moneybookers- Skrill , Moneta , Qiwi , Webmoney
Number of Assets 500+
Types of Assets Currencies , Stocks , Commodities , Indices , Bitcoin
Australian Regulated
Mobile Trading
Tablet Trading
Overall Score 96/100
  • Free 10,000 Demo Account
  • Minimum Deposit of $10 only
  • Gain per trade up to 91%
  • Fast Withdrawals ( 1 to 3 days )
  • They don’t accept customers from Australia, Canada, USA, Russian, Belgium, France and Japan.

Full Review

Last IQ Option review update: 17th Nov 2020

Important Notice to Traders from European Economic Area:

Binary and digital options are prohibited in EEA

Important Notice to Australian Traders:

Starting from 20th April 2020 , and in accordance with ASIC requirements, IQ Option will be not accepting Australian customers.

Check our list of Australian regulated brokers accepting customers.

Risk Warning: Your capital might be at risk

About IQ Option

IQ Option Ltd, founded in 2020 in Seychelles, is a binary options, forex and crypto broker that considers to be the most innovative and reliable in the market. they are the official partner of Aston Martin Racing.

They are featured as one of best platforms for global Traders in Europe, Africa, New Zealand and Asia ( Hong Kong, Singapore, India, Thailand, Vietnam, Malaysia and Indonesia ).

Platform / Mobile: 100/100

They have its own binary options trading platform developed by a group of the top IT-specialists and traders. Their interface is very friendly. There is a classic chart and a candle-stick chart with different indicators. IQ Option offers trading on classic binary options as well as on turbo (60 seconds).

IQ Option Platform ( desktop ) Figure 1

IQ Option Platform ( desktop ) Figure 2

IQ Option Platform ( desktop ) Figure 3

There is absolutely free educational system at the platform with many strategies in each lesson. Trading is not a nightmare with IQ Option platform.


There is perfect mobile trading platform available on iOS and Android. You can download it for free on App store and Google Play store. – #1 Free trading apps for Android and iOs

Risk Warning: Your capital might be at risk

Assets and Expiry Time: 70/100

There is a 500+ assets on ( currencies, indices, stocks and commodities ) .

Maximum expiration time is 1 day, usually binary options are allowed to buy for 45 minutes, turbo options for 3 minutes.Minimum expiration time is 5 minutes on binary and 1 on turbo. Moreover, IQ Option offers trading on holidays – this is OTC trading.

Languages: 100/100

IQ Option platform 4.0 is available in English, Arabic, Portuguese, Spanish, turkish, German, Italian, Chinese, Indonesian and Russian.

Demo Account : 100/100

There is absolutely free Demo account on which is available just after registration – no credit card info or deposit needed. Trader gets $10,000 ( virtual money ) after registration and can learn how to trade on platform!

Real account means real money deposit, which means getting access to more assets and one-click trading. VIP account is available after $1000 deposit. Here trader gets a personal manager and lots of privileges.

Maximum Profits & Comissions: 100/100

Maximum return on is 91%*, available on some assets or for VIP-traders. Normally, profit on binary or turbo options is up to 90%.

*amount to be credited to account in case of successful trade

Minimum Deposit: 100/100

Minimum deposit on is $10 (euro/pounds).

Bonus: 50/100

Unfortunately they can’t offer bonus anymore.

Tournaments: 100/100

They offer amazing online trading tournaments.

Customer Service: 100/100

Customer support is available at workdays during daytime. Trader can be supported in English, Thai, Korean, Spanish, Italian, German, Portuguese, Russian, Chinese and more soon.

Phone support for India, Singapore, Thailand and South Africa Traders

IQ Option provide 24/7 telephone support to customers from India, Singapore, Thailand, South Africa, Brazil, Colombia, Mexico, Argentina and Chile.

Deposit Methods: 100/100

Deposit and withdrawal is available with lots of payment systems. Withdrawing process can take up to 3 workdays, VIP accounts can withdraw in 1 day.

IQ Option Review – Summary: 97/1oo

Concluding the review, the main advantages of are:

Free $10,000 Demo Account.

Excellent trading platform

Minimum deposit $10

Maximum payout 91%*amount to be credited to account in case of successful trade

Minimum trade $1

Different charts and indicators

Professional mobile platform to trade wherever you are.

IQ Option is our recommended Broker for Asian and New Zealand Traders.

Customer Reviews on IQ Option

Name: Email: Website: Review Title: Account name used at the platform ( It will be not Published ): Email used at the platform ( It will be not Published ): City / Country: Rating: Check this box to confirm you are human.

IQ Option is great trading platform, however unfortunately they don’t accept Australian traders.

I found the platform to be terrible and the service from the company to be worse.

I am from Australia and after fighting with them for weeks to release by “bonus” as per their T&C’s I was then told they cannot no longer “service” my account and will not release my funds to me.

Customer Service at IQ Option, responded to this review
When you make a deposit in IQ Option platform, you can get a bonus (welcome bonus or promotional bonus). This bonus can be unselected before to make a deposit. All bonus are subject to certain conditions that users can read in Bonus Terms & Conditions, link displayed close to the bonus code. Once you get a bonus you can delete it, but only if trader have no trading activity, once, trader has one or more trades, to withdrawal funds, trader should complete the bonus wager.

Their new trading platform is outstanding, and very fast.

They offer a highest payout than competitors in Australia.

Very quick withdrawals also.

I’ve used IQ Option for 3 months and I can say good things.
I recommend test their platform first, which is extremely easy to use, with a free demo account.

IQ Option is by far the best platform I have traded binary options with.

IQ Option Review – is IQOption Broker Scam or not ?

no, IQ Option broker is Non-Regulated Broker. It is NOT SAFE to trade.while we checked the company there is no authorization or registration of the address, therefore the company seems to be highly suspicious while might operate its services from an absolutely different location.

IQ Option is operated by an IQ Option Europe company that was founded in 2020, claims its attractive location Cyprus. IQ Option is a registered company by the CySEC with allowance to provide its services within the EEA zone with a number of registrations from other EU authorities.

The IQ Option offering includes trading in binary options, currencies, ETF trading, stocks and states to be one of the fastest growing online trading brands in the world with 25 million members.

Nevertheless, at the fact the domain and all rights belong to IQ Option Ltd registered in Seychelles, known offshore hub, while the Cyprus branch operates for payment transaction management. For that reason, the Board of the CySEC informed investors several times during the last years about the imposing of administrative fine to the CIF IQ Option Europe Ltd with a revoked amounts of a series of fines amounting to 180,000€ or another of 20,000€ and more for doing business with non-compliance to the required rules. Charges laid out to the IQ option had the main reason for non-compliance since the services are outsourced through the head office, which is not situated in Cyprus.

The figures also included some fines that were waved for misrepresenting risks on company websites and non-reasonable steps when executing orders, which does not lead to the best result for its clients rather than profitable trades.

“IQ Option Fined €180.000 for Outsourcing Operations” Cyprus Securities and Exchange Commission, 2020 Overall, there is not a sustainable trust to the delivered IQ Option trading environment since there are many complains from the broker’s clients along with the official periodical issues in terms of non-maintained order record of clients, transaction, material and the approval of the information.

We strongly advise opening a trading account only with the brokers that are regulated by the respected world authorities that comply with the required set of rules and a good reputation through the delivered timeframe of operations.

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    NS Broker

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    Perfect For Beginners!
    Free Trading Education!
    Free Demo Account!
    Get Your Sign-up Bonus Now!

  • Binomo

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