IQ Option
Chris Cammack December 3, 2019 01:37 PM
FxScouts does NOT recommend IQ Option due to insufficient regulation. IQ Option appeals to beginners with its unique social trading platform, low minimum deposits, and low trading costs. However, IQ option's non-trading fees are high, and its global entity is unregulated. IQ Option offers one live commission-free account with competitive spreads (starting at [fxs-broker-property identifier="eur_usd_spread_smallest_account"] pips on the EUR/USD) and a minimum deposit of only [fxs-broker-property identifier="deposit"] [fxs-broker-property identifier="currency"]. However, while deposits are free, IQ Option charges unreasonably high withdrawal fees and an inactivity fee of 10 EUR (or equivalent) per month after 90 days of inactivity. IQ Option’s global entity is registered in Antigua and Barbuda. IQ Option provides traders with negative balance protection. IQ Option provides little in the way of market research or educational materials, forcing beginners to self-educate elsewhere.