IQ Option Fees Explained in Detail

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IQ Option Fees Explained in Detail

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IQ Option is a leading Contracts for Difference (CFD) trading platform which is specially designed for the small investor. This award-winning platform offers a customisable user interface and a range of convenient services. Moreover, it provides clear and transparent fees, which are competitively priced and valued.

General overview of IQ Option

Considered to be one of the world’s fastest-growing CFD trading platform, IQ Option gives you the opportunity to invest in multiple markets. Commodities, forex, options, and Bitcoin CFDs are all conveniently available from a single interface. Furthermore, when you trade on IQ Option you are trading on a CySEC-regulated platform.

IQ Option is designed to cater to both new and experienced investors and accepts investments from as little as $1. In addition, the platform is truly international, available in 19 different languages. Similarly, the platform’s customer care team speak a multitude of languages and are available 24/7.

General Fees

IQ Option Fees
Screenshots are shown for illustration purposes only. Actual product may vary.

In order to ensure a seamless service and protect users and funds, IQ Option charges fees as part of its business model. These fees are split into two categories:

  • Transactions and payments
  • Administration

In most cases, IQ Option will inform you of applicable fees before you proceed with a transaction. However, there are cases where the fees are included in the final price, or where fees are charged according to the platform’s terms and conditions. You should always familiarise yourself with the platform’s current fee structure by visiting the official website.

Deposit and Withdrawal fees

When you deposit and withdraw funds on IQ Option you will not be charged any fees as long as you comply with certain terms and conditions. In the case of deposits, all you need to do is deposit an amount equal to or higher than the €10 minimum. The minimum withdrawal amount is just €2, with no fees charged if you withdraw to Payment Service Providers (PSPs). However, if you opt to withdraw funds via bank transfer, a $31 or equivalent fee is charged.

Verification Account Closure Fee

In order to discourage time wasters, IQ Option reserves the right to charge a fee for accounts which are closed due to the user not providing adequate verification documentation. On average, this fee is of €5, however, the amount may vary. Additional fees may also be applicable if the account holds a balance which needs to be transferred to the user.

Swap Fees

Every market offered by IQ Option has a set time within the day which is considered to be the end of trading day. Any positions open beyond this point are normally charged a swap fee, sometimes known as an overnight fee. Fees vary greatly between markets and assets, with the average cryptocurrency swap fee ranging between 0.01% – 0.5%.

Whilst cryptocurrency CFD swap fees remain the same irrespective of the day of the week, CFDs of stocks, options, and other markets incur an additional fee on Fridays. Since these assets are not traded during the weekend, any open positions on this day are charged three times the daily fee.

Swap Fee Example

IQ Option Swap Fee
Screenshots are shown for illustration purposes only. Actual product may vary.

Consider that you are buying 1 BTC at a buy price of 9,631.83. You decide to keep this position open beyond the end of the trading day, meaning that you will be charged a swap fee. In the case of Bitcoin, this is 0.065%, which means a fee of 6.26.

As you can see from the coin’s details above, a different swap fee is applied if you decide to short sell Bitcoin instead of buying long.

Buy and sell spread fees

For all of its trades, IQ Option does not charge any broker commissions. Instead, it derives the majority of its income from spreads. The spread is the difference in an asset’s buy and sell price. For the user’s own convenience, the platform includes the spread in the final price. This means that the buy or sell price you see is the price you pay, without any additions.

There are several factors which influence the ultimate spread of each asset, although specific details are not divulged by the platform. As is the case with other reputable platforms, IQ Option probably bases its spread upon market volatility and trading prices across select exchanges.

Spread Fee Example

One of the great features of IQ Option is that you don’t ever really need to calculate the spread, since this is included in the final buy or sell price. Consider that you are investing in the EUR/USD forex pair and the current buy price is 1.2030 and the sell price is 1.2028. In this case, the spread is the equivalent of 2 pips.

Dormant Fees

One of the primary administrative fee charged by IQ Option is the dormant fee. As its name suggests, this fee is charged to accounts which have no activity in the preceding 90 consecutive days. In such a situation, the account is charged a monthly fee of €10 until activity resumes or the account runs out of funds.

Trading with IQ Option

IQ Option Trading
Screenshots are shown for illustration purposes only. Actual product may vary.

Learning to trade on the platform is extremely easy, especially if you read our detailed IQ Option review. Apart from finding educational resources on the official website, you will also get access to a demo account where you can practise different strategies.

In keeping with modern trading demands, IQ Option is available on mobile through the iOS and Android apps. Moreover, the web trader is highly responsive and able to adapt to various screen sizes.

Concluding Thoughts

As a relatively new player in the online trading environment, IQ Option faced a challenging rise from its very beginning. The only way it could succeed to gain and retain market share in this highly competitive industry is by offering innovative and functional tools at competitive fees. Whether they have succeeded or not is up to each investor’s opinion. Nevertheless, with over 25 million users worldwide, IQ Option is certainly worth a try.

Does IQ Option charge any commissions?

No, the platform does not charge commissions. The main transaction fee is the spread.

Is IQ Option Safe?

Yes, when you are trading on IQ Option you are using a regulated and highly secure platform.

Do I need to verify an account to trade?

Since IQ Option is a regulated platform it must comply with strict Know Your Customer (KYC) procedures which include user verification.

What are the opening hours of the customer care team?

IQ Option’s customer care team are available 24/7.

Does IQ Option offer leverage?

Yes, the platform lets you trade on margin across markets. Financing available varies by asset and is shown on the asset’s market information.

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