IQFX Forex Broker

Note: IQFX's official website https://iqfxoption.com/ is currently inaccessible normally.IQFXReview SummaryFounded2022Registered Country/RegionChinaRegulationNo regulationMarket InstrumentsCFDs, Cryptocurrencies, Binary options, StocksDemo Account/LeverageUp to 1:500EUR/USD Spread2.8 pipsTrading Platform/Min Deposit$200Customer SupportContact form IQFX was registered in 2022. It offers trading services on CFDs, Cryptocurrencies, Binary options, and Stocks. The leverage can be up to 1:500, and the minimum deposit is $200. However, it is not regulated, and its website cannot be entered, so potential risks may exist.Pros and ConsPros Cons Diverse trading market chociesInaccessible websiteMultiple account typesLack of regulationWide spreadsHigh minimum depositLimited channels for customer supportIs IQFX Legit? IQFX is not regulated by the financial services regulatory authority in China, which means that the company lacks regulation from its registration site. Moreover, the current status shows that its domain is going to be deleted.What Can I Trade on IQFX? On IQFX, customers can trade CFDs, Cryptocurrencies, Binary options, Stocks.Tradable Instruments Supported CFDs✔Stocks✔Cryptos✔Binary Options✔Forex❌Commodities❌Indices❌Account Type 4 types of accounts are available, including Basic, Silver, Gold, and VIP.Account TypeMinimum DepositBasic$200Silver$1,000Gold$10,000VIP$50,000Leverage The leverage can be up to 1:500. Generally speaking, when the leverage is high, potential risks may also be high. Therefore, careful considerations are needed.IQFX Fees IQFx Options imposes trading fees primarily through spreads, which vary depending on the currency pair or asset being traded. The spreads for major currency pairs are as follows: EUR/USD at 2.8 pips, GBP/USD at 3.1 pips, and USD/JPY at 3 pips. Additionally, the spread for trading crude oil is set at $0.12 per unit. These spreads are relatively high compared to industry standards. There is no commission on withdrawals, as the platform advertises zero fee withdrawals across all account types.