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IQ Broker offers a convenient low-cost entry point to margin trading, with a $10 minimum deposit, a $2 minimum withdrawal and one of the cleanest proprietary platforms we have tested.
The multi-asset broker also offers clients several neat features, some not always found on other platforms. One of these is the choice of using isolated or cross margin. Such ‘behind-the-scenes’ functionality shouldn’t be overlooked as it allows for more flexible trading and an experience that can be tailored to individual needs.
The trade-off is the fee schedule. Some elements of the pricing model will potentially be disadvantageous to those who don’t, or can’t, navigate items such as withdrawal fees being 2% after the first free withdrawal of each month.
The broker has more than 8 million users, and it is also important to check which IQ Broker entity you will be onboarded by before depositing, as protections differ by region.
Broker Overview
IQ Broker
😁 We really liked…
- $10 minimum deposit and $2 minimum withdrawal
- Choice of isolated (Simple) or cross (Advanced) margin
- Wide funding options, including e-wallets such as Skrill and conventional banking routes
- Deposits in any currency automatically converted to the currency you regularly use
- Wide range of assets including crypto and options
😕 Could improve...
- Withdrawal fee of 2% (standard) or 5% (expedited) after one free withdrawal a month
- Currency conversion fee of up to 4% per deposit or withdrawal
- Maintenance fee on crypto positions held over three months, rising to 3%
- €10 monthly inactivity fee after 90 days
| Website | IQ Broker |
|---|---|
| Founded | 2014 |
| Minimum deposit | $10 |
| Account types | Demo, Real, VIP |
Key facts
| Regulation | CySEC (licence 247/14); ASIC licence for related entity Quad Code AU Ltd |
|---|---|
| Instruments | Forex, stocks, crypto, commodities, ETFs and indices on margin |
| Trading modes | Simple (isolated margin) or Advanced (cross margin) |
| Platform | Proprietary web, desktop and mobile; no MT4 or MT5 |
| Minimum withdrawal | $2 |
| Free withdrawals | 1 per month |
| Account currencies | USD, GBP, EUR |
| Spreads | Variable |
| Restricted | USA and territories, Palestine, Vatican City, Russia |
What can you trade with IQ Broker?
IQ Broker is a multi-asset broker offering leveraged positions on six asset classes from a single account.
| Asset class | What to expect |
| Forex | Majors, minors and exotic currency pairs |
| Stocks | Leading US and international shares |
| Crypto | Bitcoin, Ethereum and other major coins |
| Commodities | Gold, oil and other key markets |
| ETFs | Index and sector funds |
| Indices | Major global stock indices |
Leverage limits depend on the asset, your entity, and your country, with retail clients of the CySEC entity for example having margin rates capped at 1:30 on major currency pairs.
Simple and Advanced trading modes
IQ Broker offers two ways to manage margin with this optionality allowing clients to set up their trading in a way that suits their particular style of trading. The choice also affects how much of your balance is at risk on any single trade.
The Simple mode will typically suit newer traders who want each trade ring-fenced. Advanced mode potentially being adopted by more experienced traders managing several correlated positions.
- Simple (isolated margin): each position has its own margin. If a trade goes against you, the loss is limited to the margin allocated to that position.
- Advanced (cross margin): your whole available balance supports all open positions. This can keep trades open for longer, but a losing position can draw on funds you have not assigned to it.
IQ Broker fees
Trading costs are built into variable spreads, but user discretion is advised regarding some of IQ Broker’s non-trading fees. Some of these are higher than average and would be a potential drawback to those clients carrying out particular styles of portfolio management.
| Fee | Charge |
| Spread | Variable, by instrument and market conditions |
| Swap / overnight fee | Variable. 0.01% to 0.5% of position value per night, up to 1.7% of face value in extreme cases; triple swap charged on Fridays |
| Withdrawal fee | First withdrawal each month free; then 2% standard or 5% expedited |
| Currency conversion fee | Up to 4% per deposit or withdrawal |
| Inactivity fee | €10 per month after 90 days without activity |
| Fair-usage penalty | Up to 5% administrative charge for deposit and withdrawal abuse |
How to keep costs down
- Fund the account in the currency that matches your account base currency to avoid the conversion fee.
- Batch withdrawals into one per month to stay within the free allowance.
- Log in and trade at least once every 90 days, or withdraw your balance if you stop trading.
- Do not deposit and withdraw without trading, as this can trigger the fair-usage penalty.
Account types
IQ Broker keeps things simple with three accounts, and the good news for those looking to trade in small size is that you can open a real account with a $10 deposit.
| Account | Who it suits | Details |
| Demo | Beginners and strategy testing | Free, funded with virtual money, full platform access |
| Real | Most retail traders | $10 minimum deposit, all instruments and both trading modes |
| VIP | Active, higher-balance traders | Typically from around a $2,000 deposit; dedicated account manager, priority support and premium features. Available in selected countries, with requirements varying by location |
Trading platform
IQ Broker uses its own bespoke platform on web, Windows, macOS, iOS and Android. The platform is user-friendly and quick to learn, with clean charting, built-in technical indicators, price alerts and a news feed, and the same account works across all devices.
The absence of MetaTrader’s MT4 and MT5 platforms means clients can’t access Expert Advisors or third-party automated strategies. It also means that traders looking to apply algorithmic trading strategies should look elsewhere.
Deposits and withdrawals
The inclusive aspect of the IQ Broker set up extends beyond the low minimum balance requirements. The broker supports a wide mix of card, wallet, crypto and local payment methods, with a $10 minimum deposit and a $2 minimum withdrawal.
- Cards and wallets: bank cards, Apple Pay, Google Pay
- Crypto: Bitcoin (BTC), Ethereum (ETH), Binance Coin (BNB), Cardano (ADA), Litecoin (LTC), Ripple (XRP), Tether (USDT) and others
- Local methods: vary by country
Accounts can be held in USD, GBP or EUR, but can be funded using a wide range of other currencies.
Is IQ Broker safe? Regulation and client protection
IQOption Europe Limited is regulated by CySEC in Cyprus and Quad Code AU Ltd is regulated by ASIC in Australia. Global trading activity through the Sky Ladder LLC entity (which forms part of the IQ Broker group) is regulated by Financial Services Regulatory Commission (FSRC) of Antigua and Barbuda. Levels of client protection depend on where you live and which regulator oversees trading activity, but globally, client funds are segregated and there’s negative balance protection, meaning it’s impossible to have negative balance or any debt to the broker.
| Entity | Regulator | Key protections |
| IQOption Europe Ltd | CySEC, licence 247/14 (since July 2014) | ESMA leverage caps (1:30 on major FX), negative balance protection, segregated funds, Investor Compensation Fund up to €20,000 |
| Quad Code AU Ltd | ASIC, ACN 131 376 415 | Australian retail client rules |
| Sky Ladder LLC | Antigua and Barbuda (Registration No. ILLC 004) | Varies; no compensation scheme |
Traders in the countries IQ Broker lists as “non-regulated Europe”, which includes Norway, Turkey, Ukraine and the UK, and across Asia, Africa and Latin America, are not covered by CySEC or ASIC rules.
Where is IQ Broker available?
IQ Broker operates under a variety of trading names, but the group’s difference entities accept clients across Europe, Asia, Africa, the Middle East, Latin America (including Brazil) and parts of non-EU Europe.
It does not accept clients from the USA and its territories, Palestine, the Vatican City or Russia, and the availability of specific products and payment methods varies by country.