IQ Option Spreads, leverage, minimum deposit Revealed

　　General Information& Regulation

　　IQ Option, managed and owned by the company IQ Options Europe Ltd, is a financial services provider founded in 2013 and headquartered in Cyprus. The company is authorized and regulated by the Cyprus Securities and Exchange Commission (CySEC) (License No. 247/14).

　　Market Instruments

　　IQ Option offers investors a range of financial instruments, including Forex, stocks, cryptocurrencies, commodities, indices and ETFs.

　　Accounts

　　IQ Option has two account types for investors to choose from, namely the Standard Account (the minimum deposit of 10 USD) and the VIP Account (the minimum deposit of 1,900 USD). Of these, the VIP Account will grant the account holder additional trading benefits such as free participation in trading promotions, an additional 3% return and the services of a personal manager.

　　Leverage & Spreads

　　Users can trade 25 currency pairs with IQ Option. According to the official website, IQ Option offers leverage of up to 1:1000, the credibility of which is open to question. In addition, the trader offers variable spreads. According to the official website, the spread of EUR/USD is 0.6 pips, while the spreads of AUD/USD and GBP/USD are 0.9 pips and 1.7 pips respectively.

　　Fees

　　IQ Option charges certain fees for different trading services. First, IQ Option does not charge a commission for most trades, except for cryptocurrency trades where a commission of 2.9% is charged. Secondly, swap fees range from 0.1% to 0.5%, with these fees being three times higher for positions opened on weekends. Finally, if the account is left idle for 90 days, the company will charge a monthly fee of 10 GBP (or currency equivalent) until the balance reaches zero.

　　Trading Platform

　　IQ Option has a self-developed trading platform that provides traders with a range of tools, including multiple chart layouts, technical analysis, economic calendars, stock filters, historical quotes, volatility alerts and market updates. The platform runs on both computers and mobile devices.

　　Deposit & Withdrawal

　　Clients can make deposits/withdrawals through a variety of methods, including credit/debit cards, bank wire transfers, electronic wallets, etc. In most cases, IQ Option does not charge any fees for withdrawals, but does charge a fee of 31 USD (or currency equivalent) for bank transfers.

　　Customer Support

　　To ensure that traders get the help when they need it, IQ Option offers 24/7 support services. Customers can contact the support team via email, live chat or phone. For the benefit of traders whose native language is not English, IQ Option also translates their website into over a dozen different languages.

　　Restricted Areas

　　Due to local laws and regulations, IQ Option is unable to operate in the United States, Canada or Australia, so traders from these countries are currently unable to open accounts.