4.9 / 5
Rating of the Binaryoptions.com team
(Risk warning: Trading involves risk)

IQ Option trading fees and costs

Type of feesFees from
Deposit fees$0
Withdrawal fees$0
Inactivity fees$10
Trading feesCommission, Spread
Forex trading feesFrom 0.2 pips
ETF trading fees0.3%
Crypto trading fees0.2%

With a wide variety of trades, IQ Option has emerged as one of the leading CFD and options brokers in recent times. This article’s prima facie aims to discuss and demystify the costs associated and the withdrawal policy adopted by the multinational online brokerage. We will also talk, in brief, about the variety of options in trades that they provide so that you can enter the world of online trading versed with some basic knowledge. 

Which trading fees can occure on IQ Option?

The few main types of fees that IQ Option charges you with are:

1. No deposit fees:

IQ Option feels very proud in announcing that it has no fees for depositing money to their service.

2. Only a few withdrawal fees

The first withdrawal of a calendar month is free of cost, i.e., lacking a good commission. On the other hand, other withdrawals cost up to a fixed 2% fee. The amount differs from country to country, but here is a quick chart to help you out:

In the event of a deposit, only less than 20% of it is usable for trading. This may give IQ Option a reason to stop your money from being withdrawn. You can withdraw money after submitting an application for the same. This takes approximately 3 business days to process, after which money is added to the account or system used to deposit the initial money. 

The amount of the withdrawal cannot be greater than the first deposit. In the case of detection of fraud, money laundering, or any violation of the company’s general fees policy, will decline the withdrawal request. 

(Risk Warning: Your capital can be at risk)

3. Commission fee/swap fee

The cost of holding your open position increases with time. In general, keeping trading options open prevents other people from trading using that position, and it will cost you since it costs the broker to stay open. The swap fees are negligible for the benefits they bring you. 

For most trading options, the cost of keeping your position open overnight varies from 0.01 to 0.5% (even 1.7% in some cases) of the face value and is three times the normal rate on Friday to account for the weekend. Fees for holding open positions for cryptocurrencies are different and set for a more extended period. They are as follows:

  • 03 months 0.25%
  • 06 months 0.50% 
  • 09 months 0.75%
  • 12 months 1.00% 
  • 13 months 1.25% 
  • 14 months 1.50% 
  • 15 months 1.75% 
  • 16 months 2.00% 
  • 17 months 2.25%
  • 18 months and more 2.50%

4. Dormant account fees

On 90 days of inactivity in the trading account, a dormant fee, generally 10 euros for most trade options, is deducted in the form of an administrative fee. Accounts are dormant if no trading activity in the form of deposits or withdrawals has occurred in the account for a period of 90 days. This fee is not levied from all accounts, especially not from those who withdraw and deposit at a greater frequency. 

If you do not tend to access your account a lot and don’t trade large volumes or even on a semi-frequent basis, be prepared to shell out a minimum of 10 euros towards the maintenance of your account. Failure to pay dormant account fees results in the immediate termination of your trading account. 

The company will inform the user beforehand of the charge, and also, in the event of the balance of the account being lower than the dormant fee, a lower amount is charged, and the account is still closed. 

5. Underage account closure fees

If it identifies that a person does not fulfill the age maturity criteria for trading in their respective countries, a one-time fee of 20 USD is charged from the person for closing their account permanently. The deduction takes place from the account on the 8th day of not fulfilling the agreement with the company, IQ option. It is to note that different countries have different legislation regarding age, which is appropriate for indulging in the stock market and other options like trading. 

Hence this fee might not apply to you in most cases, and thus it is safer to check your country of residence’s law before setting up an account. You stand to lose 20 USD if you happen to do so.

(Risk Warning: Your capital can be at risk)

Trading offers and different fees:

Now, let us delve into the specific charges on the different CFD or short-term trades offered for your easy perusal. 

#1 Forex trading fees: 

Forex trading involves bidding and selling derivatives based on the direction of the value of a specific currency. For example, the USD/CAD trade means you are trading over the value of USD in CAD. The fees associated with forex fall into the same categories.

Spread fees

The difference between buying and selling prices. In the event of your sell price being lower than the buy price, a fee has to be footed by the trader or user to settle their trade and close their option 

Swap fees

The cost of keeping options open.

Inactivity/Dormant account fees

Comes into play after 90 days of inactivity and no trading.

Please note that opening up binary options (wherein you get a payoff on a correct prediction of the direction of the value) and digital options (wherein you get a payoff dependent on your prediction of the direction of the value and also how close your forecast was) do not incur spread fees or swap fees. Dormancy fees are still applicable.

#2 Cryptocurrencies

The trades made on the increase and decrease in values of certain popular blockchain-based currencies like BTC, ETH against any currency. The fees associated with crypto trading also fall into the usual categories. 

Spread fees

The difference between buying and selling prices. (View #1 Forex)

Swap fees

The cost of keeping an option open.

Inactivity/Dormant fees

Comes into play after 90 days of no trading.

#3 Stocks

These trades are mainly over the value of company shares. The fees associated are similar to Forex and Crypto. These trades are considered somewhat risky for people new to the arena of options and CFD trading.

Please note that binary and digital options do not hold spread fees or swap fees, similar to those of forex binary and digital options.

#4 Exchange Traded Fund (ETF)

Trades are made over the values of funds that invest in and track a certain other commodity or index. The fees associated are similar to Forex, Crypto, and Stocks. These are relatively safer trades for new traders since they function similarly to mutual funds with a stable growth rate. Although please note that you do not invest in an ETF, you trade over the value of an ETF, i.e., you do not possess a CUSIP number and have a NAV value for a certain ETF account.

#5 Commodities 

These trades are mainly over the value of certain commodities such as gold, crude oil, etc. The fees associated are similar, and these are also marginally risky trades; hence market research is paramount before investing.

#6 Indices

These trades are mainly over the fall and rise in the indices that track a particular sector of the economy, for example, the NSE index or FTSE index, or even the Dow Jones. These are similar to stocks, but instead of focusing on a single company, you focus on the entire market. The fees associated are, again, similar to the topics mentioned above.

(Risk Warning: Your capital can be at risk)

Deposit and Withdrawal policy

As stated earlier in the passing, every user is provided with one free withdrawal every calendar month, i.e., without any commission or brokerage. The minimum withdrawal value varies from 2 USD, 2 Euro, and 60 Roubles depending on your region (refer to the table given above in the topic Withdrawal fees). 

The different PSPs or the payment service providers are set to have different processing times. It would be best if you chose the option which is best suited for your region. 

The PSPs IQ option has partnered with are:

  • Skrill Ltd United Kingdom
  • Neteller Isle of Man 
  • ECommPay Limited United Kingdom
  • Webmoney (Paymaster24 Ltd) United Kingdom
  • CardPay Malaysia 
  • Accentpay (G-Services Ltd) Russia 
  • Cubits United Kingdom 
  • QIWI United Arab Emirates

Note: The payment services have transaction limits, restrictions, and requirements that must be adhered to. Please note that IQ Option does not take responsibility for third-party payment issues. In withdrawing directly to a card, a 21 business day wait time is the norm. Complete verification may take up to 3 business days to process, and you cannot withdraw any money in the meanwhile.

Withdrawals to bank cards take utmost priority but on the condition that the value is not greater than the most significant sum of money deposited in the last 90 days.

IQ option also reserves the right to deny withdrawal of money in the event of detection of their platform being used for fraudulent behavior, money laundering, unfair usage, and illegal activities. They can block your account and ask for documents in the case of a dispute.

Conclusion: IQ Option is a cheap trading platform:

Fees and Commissions on the IQ Option platform were the focus of this article. Now that you know what to expect when trading with IQ Option, I hope that you have a better idea of what to expect.

A high commission is not chargeable in the majority of cases. You can avoid all of the ones we’ve discussed so far with relative ease.

In order to be close to its customers, the IQ Option platform makes an effort to be accessible. Computer and mobile devices are supported. If you want to trade from wherever you are, you can download the app for Android or iOS devices.

(Risk Warning: Your capital can be at risk)