IQ Option is a binary options trading broker that also offers 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.
Regulators in multiple jurisdictions have issued warnings or taken actions concerning IQ Option or entities using the IQ Option brand, including administrative sanctions by the Cyprus Securities and Exchange Commission (CySEC), an ASIC action regarding unlicensed OTC derivative providers, a stop-order/market alert by Brazil's CVM, and inclusion on the Reserve Bank of India's alert list of unauthorised forex trading platforms.[1][2][3][4]
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.[5] The company offers over 250 financial instruments, including Forex, stocks, cryptocurrencies (26 listed), commodities, and ETFs.[6] IQ Option claims to have millions of customers in more than 200 countries, but those numbers are difficult to verify.[7]
The CySEC register lists IQOption Europe Ltd as a Cypriot investment firm with licence number 247/14 (licence date: 30 July 2014).[9] By 2016, its trading platform had gained visibility in the retail trading sector.[10][11][6]
In 2017, IQ Option shifted its focus from binary options to CFDs and cryptocurrencies.[12] In the same period it launched dedicated trading apps for iOS and Android,[12], announced a blockchain-based project called "Open Trading Network",[13] and joined the Serenity Financial blockchain-based settlement system.[14] 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.[14] The company also revealed plans for an ICO.[15]
In 2021, IQ Option established a subsidiary, Quadcode Markets, which focuses on trading foreign exchange, commodities, stock indices, and cryptocurrencies through CFDs.[16][17] In 2024, Quadcode launched a SaaS white-label platform.[16][18] Additionally, Quad Code AU Ltd operates in Australia and is licensed by ASIC.[16]
Since November 2022, IQ Option has been the official global sponsor of the Davis Cup.[19]
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.[20]
In September 2023, CySEC removed IQ Option Europe LTD from the Register of Crypto Asset Service Providers (CASPs) due to the company not providing crypto-asset services for a continuous period of six months.[21][22] Later that year, Quadcode Markets acquired a trading license from the Securities Commission of the Bahamas.[16]
Regulatory actions and warnings
Cyprus
In Cyprus, IQ Option has faced repeated fines and scrutiny from the Cyprus Securities and Exchange Commission. 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.[1][23][24] The fine was later reduced to €20,000 after the company submitted additional documents.[25][26] 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.[27]
Australia
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).[2]
In India, as of June 2017, IQ Option was included in the Reserve Bank of India's (RBI) Alert List of unauthorised forex trading platforms (updated as of 19 November 2025).[4]. The RBI warned that residents conducting forex transactions with the company could face legal actions under the Foreign Exchange Management Act (FEMA), 1999.[29] 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.[30]
Indonesia
In Indonesia, binary options, including those offered by IQ Option, are classified as a form of online gambling. On 2 February 2022, Indonesia's Commodity Futures Trading Regulatory Agency (Bappebti) imposed a ban on the company, alongside more than 92 similar operators, further limiting its ability to operate in Southeast Asia.[31][32][33]
Brazil
In April 2020, Brazil's securities commission (CVM) ordered IQ Option to stop acquiring clients. Despite this, in 2021, the company continued marketing its services to Brazil residents.[3][34][35]
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