IQ Option
{{Infobox company
| name =IQ Option
| logo =Iqoptionlogo.png
| logo_caption =
| logo_upright =
| logo_alt =
| type =
| industry =
| predecessor =
| founded = 2013
| founder = Dmitry Zaretsky
| defunct =
| fate =
| successor =
| hq_location_city =Limassol
| hq_location_country =Cyprus
| area_served =
| key_people = Timofey Baranov (CEO){{Cite web |title=IQ Option’s Competitors, Revenue, Number of Employees, Funding, Acquisitions & News - Owler Company Profile |url=https://www.owler.com/company/iqoption |access-date=2025-05-15 |website=Owler}}
| products =
| owner =
| num_employees =200
| num_employees_year =2023
| parent =
| website = iqoption.com
}}
IQ Option is primarily known as a binary options trading broker, also offering services in Forex, stocks, and cryptocurrencies. The company was founded in 2013. In 2017, IQ Option shifted its focus to CFDs and cryptocurrencies, though binary options remain a significant part of its operations in certain markets, particularly where regulations are less stringent.
The company claims to operate in over 200 countries and have more than 48 mln clients. IQ Option is regulated by CySEC, and Securities Commission of the Bahamas (SCB).
Operating in various jurisdictions without proper authorization or licensing, IQ Option has faced fines, lawsuits, and bans. Regulatory authorities in countries like India, Australia, Cyprus, Brazil, and Indonesia have flagged the company's activities, ranging from non-compliance with financial regulations to alleged fraudulent practices.
Profile
As of 2023, the company is headquartered in Cyprus and employs around 200 people across offices in Dubai, London, Gibraltar, the USA, Australia, Eastern Europe, and Malaysia.{{cite web| url =https://www.financemagnates.com/thought-leadership/broking-fintech-and-doomsday-clocks-interview-with-quadcode-markets-evgeny-tychenko/| title =Broking, Fintech, and Doomsday Clocks - Interview with Quadcode Markets' Evgeny Tychenko| date =2023-06-16| publisher =Finance Magnates | access-date =2025-01-23}} The company offers over 250 financial instruments, including Forex, stocks, cryptocurrencies (26 listed), commodities, and ETFs. IQ Option claims 48 million customers in more than 200 countries, but those numbers are difficult to verify given regulatory issues in various jurisdictions.{{cite web| url =https://www.tmcnet.com/usubmit/-iq-option-named-best-crypto-forex-broker-thailand-/2024/07/23/10046122.htm| title =IQ Option Named Best Crypto and Forex Broker in Thailand by FX Awards| date =2024-07-23| publisher =TMCNet News | access-date =2025-01-23}}
History
IQ Option was founded by Dmitry Zaretsky, a Russian entrepreneur who grew up in Saint Petersburg and graduated from the Saint Petersburg State University Mathematics and Mechanics Faculty.{{cite web| url =https://www.sobaka.ru/city/urbanistics/118191 | title = На Восстания открылся особняк Мясникова — там уже проходят концерты и лекции, а скоро появится кластер авторских ресторанов. О планах рассказывает владелец здания | last = Morozova| first = Ksenia| date =2020-10-22| publisher = Sobaka.ru |language=Russian | access-date =2025-01-23}} The company was registered in Cyprus under the name IQ Option Europe LTD on 12 December 2013.,{{cite web| url =https://cyprusregistry.com/companies/HE/327751#:~:text=The%20address%20of%20the%20%20company,202%202003,%20%CE%9B%CE%B5%CF%85%CE%BA%CF%89%CF%83%CE%AF%CE%B1,%20%CE%9A%CF%8D%CF%80%CF%81%CE%BF%CF%82.| publisher =Cyprus Registry |title=IQOPTION EUROPE LTD| access-date =2025-01-23}} and acquired a license from CySEC in 2014. Already in 2016, its trading platform had grown popular.{{cite web| url =https://www.financemagnates.com/binary-options/analysis/industry-insight-cysec-binary-options-regulations-get-positive-feedback/| title =Industry Insight: CySEC Binary Options Regulations Get Positive Feedback| last =Golovtchenko| first =Victor| date =2016-04-20| publisher =Finance Magnates | access-date =2025-01-23}} The company had invested heavily into development of its trading tools and instruments.{{cite web| url =https://www.independent.co.uk/news/business/use-your-iq-by-choosing-a-robot-to-manage-your-trading-a7219546.html| title =Use your IQ by choosing a robot to manage your trading | date =2016-11-21| work =The Independent | access-date =2025-01-23}}{{cite web| url =https://www.financemagnates.com/thought-leadership/everything-you-need-to-know-about-iq-options-platform-offering/| title =Everything You Need to Know About IQ Option's Platform Offering | date =2020-06-29| publisher =Finance Magnates | access-date =2025-01-23}}
In 2017, IQ Option shifted its focus from binary options to CFDs and cryptocurrencies.{{cite web| url =https://www.financemagnates.com/forex/brokers/exclusive-iq-option-smoothly-transitions-fx-cfds/| title =Exclusive: IQ Option Smoothly Transitions into FX and CFDs| last = Golovtchenko| first =Victor| date =2017-08-14| publisher = Finance Magnates| access-date =2025-01-25}} It launched dedicated trading apps for iOS and Android, introduced the "Open Trading Network" blockchain-based platform,{{cite web| url =https://www.financemagnates.com/forex/brokers/exclusive-iq-option-announces-blockchain-based-open-trading-network/| title =Exclusive: IQ Option Announces Blockchain-Based 'Open Trading Network'| last =Golovtchenko| first =Victor| date =2017-10-11| publisher =Finance Magnates | access-date =2025-01-23}} and joined the Serenity Financial blockchain-based settlement system.{{cite web| url =https://www.forexbrokerz.com/news/IQ-Option-joins-Serenity-Financial-blockchain-settlement-system| title =IQ Option joins Serenity Financial blockchain settlement system| date =2017-11-20| publisher =Forex Brokers | access-date =2025-01-23}} During this period, IQ Option claimed to employed over 550 specialists in offices in Saint Petersburg and Limassol, while its monthly trading volume reportedly exceeded $11 million. The company also revealed plans for an ICO.{{cite web| url =https://www.financemagnates.com/forex/brokers/iq-option-teases-upcoming-ico-limited-tokens/| title =IQ Option Teases Upcoming ICO with Limited Tokens| last =Golovtchenko| first =Victor| date =2017-08-31| publisher =Finance Magnates | access-date =2025-01-25}}
In 2021, IQ Option established a subsidiary, Quadcode Markets, which focuses on trading foreign exchange, commodities, stock indices, and cryptocurrencies through CFDs.{{cite web| url =https://financefeeds.com/quadcode-iq-option-sister-fx-broker-secures-license-in-bahamas/| title =Quadcode Markets: IQ Option-sister FX broker secures license in Bahamas| last =Steves| first =Rick| date =2023-12-11| publisher =Finance Feeds | access-date =2025-01-23}} In 2024, Quadcode launched a SaaS white-label platform.{{cite web| url =https://financefeeds.com/quadcode-saas-launches-white-label-brokerage-platform/| title =Quadcode SaaS launches white label brokerage platform| date =2024-04-18| publisher =Finance Feeds | access-date =2025-01-23}} Additionally, Quad Code AU Ltd operates in Australia and is licensed by ASIC.
Since November 2022, IQ Option has been the official sponsor of the Davis Cup.{{cite web| url =https://financefeeds.com/iq-option-collaborates-with-davis-cup/| title =IQ Option Collaborates With Davis Cup | date =2022-11-21| publisher =Finance Feeds | access-date =2025-01-23}}
In early 2023, IQ Option announced a partnership with compliance solutions expert Rightlander Ltd. and launched SabioTrade, a proprietary trading firm.{{cite web| url =https://financefeeds.com/iq-option-joins-forces-with-rightlander-ltd-for-enhanced-compliance/| title =IQ Option Joins Forces with Rightlander Ltd for Enhanced Compliance | date =2023-10-08| publisher =Finance Feeds | access-date =2025-01-23}}{{cite web| url =https://www.tradeinformer.com/broker-news/iq-option-launched-a-prop-firm| title =IQ Option launched a prop firm| date =2024-10-29| publisher =Trade Informer | access-date =2025-01-23}} The company also introduced Islamic accounts for Android users, promoting no-swap trading and offering over 21 halal shares to cater to a specific market segment.{{cite web| url =https://mediaindonesia.com/teknologi/574432/iq-option-alternatif-akun-islami-untuk-trader-muslim| title =IQ Option's Islamic Account is Out on Android| date =2023-04-15| publisher = Media Indonesia| access-date =2025-01-23}}
Despite these developments, in September 2023, CySEC removed IQ Option Europe LTD from the Register of Crypto Asset Service Providers (CASPs), citing the company's failure to provide crypto-asset services for a continuous period of six months.{{cite web| url =https://fxnewsgroup.com/forex-news/regulatory/cysec-deletes-iqoption-europe-from-register-of-crypto-asset-service-providers/| title =CySEC deletes IQOPTION EUROPE from Register of Crypto Asset Service Providers| last =Nikolova| first =Maria| date =2023-09-13| publisher =FX News Group | access-date =2025-01-25}}{{cite web| url =https://www.cysec.gov.cy/en-GB/public-info/decisions/95347/| title =CySEC Decision for the deletion of the CASP IQOPTION EUROPE LTD from the CASP register| date =2023-09-13| publisher =CySEC | access-date =2025-01-25}} Additionally, in late 2023, Quadcode Markets acquired a trading license in the Bahamas, expanding its reach into yet another jurisdiction.{{cite web| url =https://www.financemagnates.com/forex/iq-options-quadcode-secures-fxcfd-trading-license-in-bahamas/| title =IQ Option's Quadcode Secures FX/CFD Trading License in Bahamas| last =Chmiel| first =Damian| date =2023-12-11| publisher =Finance Magnates | access-date =2025-01-23}}
Controversy
In Cyprus, IQ Option has faced repeated fines and scrutiny from the Cyprus Securities and Exchange Commission (CySEC). In 2016, CySEC imposed a fine of €180,000 for multiple violations, including misleading marketing materials, unsafe outsourcing practices, inadequate approval of liquidity providers, and failing to act in clients' best interests during order execution.{{cite web| url =https://www.financemagnates.com/binary-options/regulation/iq-option-fined-e180-000-by-cysec-for-outsourcing-operations-misrepresenting-risk/| title =IQ Option Fined €180.000 By CySEC for Outsourcing Operations| last =Abdel-Qader| first =Aziz| date =2016-09-30| publisher =Finance Magnates | access-date =2025-01-25}}{{cite web| url =https://www.leaprate.com/news/cysec-issues-6-figure-fines-to-binary-option-brokers-iq-option-and-optionrally/| title =CySEC issues 6 figure fines to binary option brokers IQ Option and OptionRally| last =Fox| first =Mike| date =2016-10-01| publisher =LeapRate | access-date =2025-01-25}} The fine was later reduced to €20,000 after the company submitted additional documents.{{cite web| url =https://www.financemagnates.com/binary-options/regulation/exclusive-cysec-rolls-back-best-execution-fine-iq-option/| title =Exclusive: CySEC Rolls Back Best Execution Fine for IQ Option
| last =Golovtchenko| first =Victor| date =2017-08-31| publisher =Finance Magnates| access-date =2025-01-25}}{{cite web| url =https://www.onestopbrokers.com/2017/01/16/cysec-announced-revocation-decision-regarding-iq-option-europe/| title =CySec announced revocation of decision regarding IQ Option Europe| date =2017-01-16| publisher = One Stop Brokers| access-date =2025-01-25}} In 2019, IQ Option agreed to a €450,000 settlement with CySEC for failing to implement effective safeguards against conflicts of interest and rigorous due diligence procedures, as well as for insecure transaction processes.{{cite web| url =https://knews.kathimerini.com.cy/en/news/iq-option-settles-with-cysec| title =IQ Option settles with CySEC| last =| first =| date =2019-05-22| publisher =KNews | access-date =2025-01-25}}
In Australia, IQ Option operated without a license until 2016, only addressing regulatory shortcomings after receiving a formal warning from the Australian Securities and Investments Commission (ASIC).{{cite web| url =https://asic.gov.au/about-asic/news-centre/find-a-media-release/2016-releases/16-218mr-asic-crackdown-on-unlicensed-retail-otc-derivative-providers/| title =ASIC crackdown on unlicensed retail OTC derivative providers| date =2016-07-06| publisher =ASIC Gov | access-date =2025-01-23}}
In Singapore, since July 2017, IQ Option has been listed on the Monetary Authority of Singapore (MAS) Investor Alert List.{{cite web| url =https://www.mas.gov.sg/investor-alert-list?page=1&rows=All| title =Investor Alert List| publisher =Monetary Authority of Singapore | access-date =2025-01-23}}
In India, as of June 2017, IQ Option was included in the Reserve Bank of India's (RBI) alert list. The RBI warned that residents conducting forex transactions with the company could face legal actions under the Foreign Exchange Management Act (FEMA), 1999.{{cite web| url =https://economictimes.indiatimes.com/wealth/save/rbi-issues-fresh-list-of-unauthorised-forex-trading-platforms-how-to-check-authorised-list/articleshow/100842643.cms?from=mdr| title =RBI issues fresh list of unauthorised forex trading platforms; How to check authorised| last =Kulkarni| first =Sneha| date =2023-06-08| publisher =The Economic Times India | access-date =2025-01-23}} In 2021, the company faced a class-action lawsuit in India alleging fraud through a cryptocurrency investment scheme. Victims claimed IQ Option promised returns of up to 900% but blocked withdrawals under the guise of technical errors. The lawsuit seeks a permanent ban on the company's operations in India.{{cite web| url =https://www.financemagnates.com/forex/brokers/iq-option-faces-lawsuit-in-india-over-crypto-fraud-allegations/| title =IQ Option Faces Lawsuit in India over Crypto Fraud Allegations| last =Shome| first =Arnab| date =2021-01-13| publisher =Finance Magnates | access-date =2025-01-23}}
In Indonesia, binary options, including those offered by IQ Option, are classified as a form of online gambling. Since 2 February 2022, the company has been banned along with over 92 similar operators, further limiting its ability to operate in Southeast Asia.{{Cite web|date=2022-02-04|title=Indonesian regulators block illegal trading websites following complaints on social media|url=https://kr-asia.com/indonesian-regulators-block-illegal-trading-websites-following-complaints-on-social-media|access-date=2022-02-07|website=KrASIA|language=en}}{{Cite web|last=Dirgantara|first=Hikma|date=2022-02-03|title=Bappebti Blokir 92 Entitas Binary Option di 2021, Termasuk Binomo, IQ Option|url=https://investasi.kontan.co.id/news/bappebti-blokir-92-entitas-binary-option-di-2021-termasuk-binomo-iq-option|access-date=2022-02-07|website=Kontan.co.id|language=id}}{{cite web| url =https://www.malaymail.com/news/malaysia/2020/07/16/bukit-aman-cripples-i-rakyat-trade-investment-scam-which-targeted-malaysian/1885108| title =Bukit Aman cripples 'i-Rakyat Trade' investment scam which targeted Malaysians during MCO| last =Tee| first =Kenneth| date =2020-07-16| publisher =MalayMail | access-date =2025-01-23}}
In April 2023, Brazil's securities commission (CVM) ordered IQ Option to stop acquiring clients. Despite this, the company continued operating through affiliate marketing and ads on platforms like Google.{{citation needed|date=February 2025}}