IQ Option is one of the leading brokers around the world. It introduces new features and implements new technologies all the time. It does a lot to satisfy the customers’ needs. The platform is transparent as so the rules and conditions.
Fees and commissions the broker is charging are very important from the trader’s point of view. The trader wants to earn money while spending as little as possible. Nobody wants to pay a tremendous amount of money to the broker or be surprised with some fees along the way.
IQ Option takes care of its customers and makes the fees policy clear. Today, we will take a closer look at this topic. Let’s get started.
The absence of commissions and fees
The trading commissions
The trading commission is the fee taken by the broker for opening and closing transactions on the platform. And opening and closing transactions are exactly what the trading is about. The good news is there are no trading commissions on IQ Option. This fact distinguishes IQ Option from the other trading platforms. Most brokers charge the trading fees as they are their main source of income. The profit a trader can earn diminishes when such a commission is taken.
We have already established there are no trading commissions. Moreover, there are no account fees which you are supposed to pay when you open or close the account with some other brokers.
There is a minimum amount of money you should transfer to your IQ Option account, but this is a deposit and not a fee. IQ Option does not take money from your deposit for opening or closing the account. The whole sum is available to use for opening the trading positions on the platform.
Then, you do not pay any extra cost when depositing or withdrawing the money. Such operations are free of charge.
The source of the IQ Option broker revenue
Many brokers treat money from fees and commissions as their revenue and thus, make them high and frequent. IQ Option is not one of those. There are a few fees you should be aware of and we will talk about them soon, but they are not the main source of income for the IQ Option broker. Instead, their policy is to have successful customers and to make money when the traders make them too.
IQ Option gains money when they cover your operations in the markets. It benefits from your wins, not from your losses. That is why customer support is extremely reliable and works fast.
So the trading commissions on IQ Option do not exist. You may ask about the situation in relation to the CFDs spread. Well, there are higher charges when you buy securities with the IQ Option broker, but this is not a commission and only the difference in the prices.
Commissions and fees you might encounter on IQ Option
Swap fee is the money that will be charged by the broker when you keep a position opened through the night. Most often it is 0.6%. The overnight fee concerns the CFDs securities only, which means forex, commodities, indices, cryptocurrencies and ETFs.
To find the information about the specific asset, click on the icon with the letter “i” under the asset’s name you are currently trading or next to each instrument on the list of all available assets.
Then, choose the “Trading Conditions” tab and the information about the swap fee will be displayed.
The overnight fee will be three times higher when you keep your trade opened from Friday till Saturday.
To avoid paying the swap fee, just make sure all the trades are closed at the end of the trading session.
You do not have to worry about the dormant fee when you are actively using your IQ Option account. However, if there is no any operation conducted on your account for a 90 day period, a fee of $10/€10 will be charged. When still no activity will be registered after this period, the same amount of money will be taken every month.
The dormant fee does not depend on the type of the account nor trading form. Whether you are trading options or CFDs, the fee will still be charged if your account remains inactive.
Verification account closure fee
You are supposed to provide all the necessary documents for verification purpose within 15 days from the moment you have deposited money in your IQ Option account. In case you do not fulfil this condition, your deposit will be refunded to the card or electronic wallet you have previously used. If you managed to earn any profit, it will be kept as the verification account closure fee. Moreover, if your balance is under $5/€5, an extra fee up to $5/€5 will be added.
The purpose of this article was to guide you through the subject of commissions and fees on the IQ Option platform. I believe that now you know what to expect when you are trading with the IQ Option broker.
Generally, there are no high commissions charged. And the ones we have described today are quite easy to avoid.
The IQ Option platform makes the effort to be close to its customers. It is available on the computer and the phone. You can download the app for Android or iOS device and trade from whatever place you are currently in.
If you still have some doubts, read Terms and Conditions on the IQ Option website. You can also leave a comment in the comments section below.
Enjoy trading with IQ Option!