Binary and binary options are prohibited in EEA.
Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions.

Is IQ Option legitimate?

Your capital may be at risk. This material is not investment advice.

IQ Option has been in operation since 2013. IQ Option is popular with many traders in South Africa and around the world because payments are generous. A return of 91% is one of the highest in the entire industry.

It is worth noting that IQ Option has come up with one of the best tools available to traders, making trading profitable and withdrawals simple.

It has many unique features to get South African traders ahead. There are different payment platforms to use for withdrawals such as Skrill, Paypal, E-wallet, credit card or wire transfer.

The system is beautifully presented and user-friendly for any trader in South Africa, simple enough that even a new trader will find their way easily around the platform. This software is very popular among traders because it is also compatible with smartphone and tablets.

Anyone can become a professional trader on this platform because it simplifies trading. They are simplified on this platform. Another advantage is that indicators such as charts and candlesticks are at the trader’s fingertips, and the system is also available in multiple languages.  Traders from certain countries such as the US are, however, not accepted.

Some South African traders feel that the expiry period for the trades is rather limiting because all trades close by the end of the day. That could prove to limit long-term South African traders.  The asset list that stands at slightly over 70 could be considered rather short if compared with some other players in the industry.
The starting point for new users on IQ Option is the free demo account. This provides the opportunity to practice trading and test one’s methods without risking any money.

There are two types of trading accounts available: real accounts and VIP accounts. For those who trade using the real account, withdrawals take three days, taking weekends into account. VIP accounts, as you might expect, allow you to withdraw money faster. The minimum capital to trade with is US$10 and the maximum is US$5,000.

Trading on this platform is available round the clock. This company allows withdrawal of as little as US$10, which is unlike most companies in the industry that hold on to a trader’s profits until they have reached a certain target. This is one of the more favourite features among traders on this platform.

As a trader’s skills improve, there is the choice of upgrading to a VIP account which opens doors for more services such as being able to withdraw within 1 business day and participating in trading competitions. For skilled traders, competitions not only boost confidence levels but can also result in extra capital to trade with in case one wins.

A VIP account provides South African traders with a platform that gives them access to free in-depth information about trading such as economic news.  This increases a trader’s chances of making correct predictions.

The site is very innovative and has won awards such as the Most Innovative binary Options Broker Award. The system is very supportive and will teach the South African trader different methods for making profits trading on binary options.

The trading platform offers over 70 different assets to trade with. South African traders have a wide selection of currencies to trade with such as EUR, USD, CAD, JPY, GBP, NZD, AUD and many others.

Reviews of IQ Option show that customers have a lot of praise for the customer support. There are no harassing sales calls to try and get a South African trader to make a deposit, and complaints such as delays with withdrawals or cancellations are handled promptly and professionally. The website is also simple to use and does not harass the user with too many marketing messages that are common on some other websites in the industry.

Is IQ Option a scam?

There are many online scams and it is important for South African traders to learn how to tell legitimate companies apart from the scams. A legitimate company has a valid broker’s license from a reputable agency, such as the Financial Conduct Authority (FCA) in the UK, and is authorised to operate.

IQ Options strongly supports traders to help minimise their chances of loss. You can take advantage of the secure features that increase the chances of financial returns for those who are willing to learn and pay attention to their business.

Something else to look for when concerned if a company is legitimate or not is the ease with which the company can be traced. IQ Options contact details are easily accessible from the website. There is a steady flow of activity of this website and traders have continued to trade on the platform, a sign that they are getting the services they are looking for.

While this form of trading is still relatively new, and for which some suspicion must surely be expected, traders can be assured that they are operating under normal regulatory conditions. IQ Option assures its South African traders that the platform works for those who are well-versed in financial matters. binary options trading is still concerned with making predictions about stocks, and this is a high-risk business. Anyone who plunges in without investing in adequate knowledge could, of course, lose money.


IQ Options is a unique trading platform that is unlike no other. The company offers South African traders many tools that are not offered by any other company in the industry. The layout of the trading platform, as well as the educational articles, set this company apart from other players. This company has not raised any red flags and it is certainly a form of trading that is worth pursuing.

Author info:
Author: Kungawo
Kungawo is from: South Africa, Cape Town
Please be advised that certain products and/or multiplier levels may not be available for traders from EEA countries due to legal restrictions