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In this contribution, we investigate the outage performance of OFDM-based Decode and Forward (DF), Amplify and Forward (AF) and Controlled DF (CDF) cooperative systems under IQ Imbalance (IQI). In particular, tractable and compact approximate outage probability expressions are derived and the effect of the different IQI parameters is analyzed for different SNR ranges. Furthermore, by localizing the error floor in terms of IQI and SNR for each technique, we demonstrate when it is more beneficial to invest in increasing the transmission power or in compensating the imbalance. Moreover, we prove that the IQI compensation should be concentrated in the relay for some techniques and in the destination for some others. A comparative study between AF, DF, CDF and direct link transmission techniques is also conducted for different IQI parameters, SNR ranges, transmission rates and relay's position. Hence, this …