How to get a PRO status on the IQ Option platform

Every trader looking to trade binary options, digital options, or CFDs with up to 1:500 leverage on the IQ Option platform needs to first acquire the status of a pro trader. In this article, we will explain why the pro status is necessary and how to get one.

Why it is necessary

The European Union financial regulatory institution – ESMA – banned trading options for all the EEA retail traders and placed restrictions on the leverage of CFD instruments. While this is definitely a drawback, it is not the end of the world and clients of the IQ Option platform can still enjoy trading binary options, digital options, and CFDs with high leverage. However, to do so they have to go through a verification process first and obtain a pro trader status which allows them to freely trade the instruments as the ESMA regulation applies to retail traders only. The regulation also stipulates that all websites featuring binary options need to be marked with the following warning: “Binary options are not promoted or sold to retail EEA traders. If you are not a professional client, please leave this page.”

The difference between a retail and pro trader

IQ Option, a CySEC regulated company, has to abide by the new ESMA regulation. Accordingly, they categorize each trader as a retail client by default. In comparison with the pro status, the following restrictions apply for retail accounts:

How to join the PRO traders on the IQ Option platform

Once a pro always a PRO – acquiring the status of a PRO trader is a one-time process! Failing the pro-trader qualification survey does not prevent you from trying again and the questionnaire can be taken as many times as you want. IQ Option, however, urges you to fill in all information accurately. In order to pass the test, you have to meet at least 2 of the following 3 main requirements.

  • Trading volume – You have carried out at least 10 transactions in CFDs or Options (each worth €150 or more) per quarter over the previous 4 quarters
  • Sizable portfolio – Your financial portfolio — including financial instruments and cash — exceeds €500,000
  • Relevant experience – You have at least one year of relevant experience working in the financial field

If you are not fit of the PRO Status you can stay on the IQ Option platform as a retail trader and enjoy investing in other attractive investment instruments like Forex, Cryptocurrencies or other CFD instruments (with lower leverage).

How many questionaries are there?

There are 5 questionnaires in total. They are aimed at assessing your experience, financial situation and personal data including information about your present or past job that is relevant to finance. Our team has made screenshots of all of the qualification surveys so no question should take you by surprise. The first questionnaire features the questions above. Sometimes you are also asked to attach screenshots that support your statements, as is the case with the very first question. To make it easier for you, it is possible to make the IQ Option retrieve the information from your trading history but you can also attach other documents, such as the history of your trades from other companies. In the second survey, you have to fill in the information about your present/past occupation that is relevant to the financial field along with personal data about your financial situation. The other three questionnaires simply test your knowledge.

F.A.Q

Q: How long does it take to get the status of a professional trader on the IQ Option platform?

A: Usually 2 to 3 business days

Q: How does IQ Option know whether I provide truthful information?

A: It is in your best interest to provide accurate information. They review all applications on a case by case basis.

Q: Where can I get more information about the pro status?

A: Directly on the IQ Option website. I recommend visiting https://eu.iqoption.com/ – in the top menu head for the section “for traders” >> “client categories”. Or from the customer support that is online around the clock on live chat.



Michael
Author: Michael
Hi, I'm Michael and my area of expertise is forex and cryptocurrency trading. I specialize in technical analysis, namely in chart pattern setups. I educate traders of all levels and I believe that prerequisite to successful active trading is always knowing risks of the game. My most current interest lays in cryptocurrencies, especially in Ethereum and in decentralized applications. I do not give investment advice, but for general inquiries please use the comment section under any article.

2 Comments

  • Gyorgy

    Dear Michael,
    I have some of my own questions.
    “It is in your best interest to provide accurate information”, what happens if I send inaccurate data? Is it against the law?
    Can I think of this procedure like a “self assessment”? Can there be any consequence of inacurate or false information? Why do I have to have written evidence of any trade activity of mine in the past years?
    Thanks for your answers.

    • Michael
      Michael

      Hello Gyorgy,
      IQ Option has to comply with the European law which is currently stating that no retail clients can trade binary options and you are required to provide evidence of your trade activity so they could determine whether you do not fall into this category. If you provide inaccurate data or false information your application be nullified by the IQ Option team as they review each application on a case by case basis. If your application gets turned down, IQ Option does not anyhow punish you, they will just recommend you to trade with your retail account. Be sure that the company is not anyhow happy about these restrictions but the law is the law.

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