How to get a PRO status on the IQ Option platform

Every trader from the European Economic Area looking to trade binary options, digital options, or CFDs with up to 1:500 leverage on the IQ Option platform (79% of retail CFD accounts lose money.) 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 professional and retail account

IQ Option, a CySEC regulated company (Read our IQ Option Review), has to abide by the new ESMA regulation. For that reason, 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 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 for 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/ (79% of retail CFD accounts lose money.) – 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
Latest posts by Michael (see all)

13 Comments

  • 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.

    • 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.

    • They probably won’t care unless you start making serious money with options, then they will most likely reassess your documents and find that your gains were obtained while illegaly trading as a professional trader, so probably not the best of ideas to lie.

  • Hello, could you help me fill out a professional client questionnaire? I meet the first two conditions, but I only have a problem with the questionnaire.

    • Hello Dalibor,
      You can contact the IQ Option customer support via live chat, I am sure they will be more than happy to help you. If you for some reason insist on help from me, hit me up on my email – [email protected]

  • Hi Michael, I am in Kenya, I’m a first timer. i’m trying to make a deposit to my account. In my deposit option, I don’t have an option for Mpesa. How do i go about it???

    • Hello Miriam,
      That is odd, IQ Option should support M-Pesa in Kenya. Please try to contact the IQ Option customer support to resolve this!

      Regards,
      Michael

  • Hi Michael I have 2 questions, my
    First is

    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

    How can we prove we have done this when we aren’t allowed as retail clients to trade options?

    Number 2

    Relevant experience – You have at least one year of relevant experience working in the financial field

    What financial field?

    • Hello Kevin,
      I would personally recommend going with these questions directly to IQ Option. With that being said, I will try to answer them to the best of my ability.

      1) You can prove that with your trading records, they do not have to come from IQ Option, but they can also can from any other broker. Of course, since IQ Option does not offer to retail clients binary options, you will not be able to show them records of such trades.

      2) This is one of the things that really depends on IQ Option and their case to case evaluation. That’s why it’s so generic – the financial field.

  • Buenas tardes Miguel.
    Si yo aperturo mi cuenta desde venezuela, para operar en opcines binariaa, y pago mis depositos con uan tarjeta de debito de Estados Unidos, y viajo a España, no puedo operar desde Europa.

    • Hello Omar,
      Thereoticly speaking, if you are a resident of Venezuela and travel to Europe you still might be able to trade binary options. But I am not sure about this, because, in Europe, they are under normal circumstances prohibited to all retail clients.

  • hi Michael
    can Asian region trader get a pro status on IQ option

Leave a Reply to Michael Cancel reply