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No Regulation
Score
1.31 /10
Danger
IQFX
2-5 yearsSuspicious Regulatory License
Suspicious Scope of Business
High potential risk
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Comparison
Expose
Exposure
Time Machine
Website
Score
Regulatory Index0.00
Business Index5.45
Risk Management Index0.00
Software Index4.00
License Index0.00
Time Machine
Website
Licenses
No valid regulatory information, please be aware of the risk
VPS Standard
No restriction on the broker account. Support service provided by WikiFX
Single Core
1G
40G
open now
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Warning: Low score, please stay away!
Previous Detection :
2024-12-28
- It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
WikiFX Verification
Note: IQFX's official website https://iqfxoption.com/ is currently inaccessible normally.
| IQFXReview Summary | |
| Founded | 2022 |
| Registered Country/Region | China |
| Regulation | No regulation |
| Market Instruments | CFDs, Cryptocurrencies, Binary options, Stocks |
| Demo Account | / |
| Leverage | Up to 1:500 |
| EUR/USD Spread | 2.8 pips |
| Trading Platform | / |
| Min Deposit | $200 |
| Customer Support | Contact 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 Cons
| Pros | Cons |
| Diverse trading market chocies | Inaccessible website |
| Multiple account types | Lack of regulation |
| Wide spreads | |
| High minimum deposit | |
| Limited channels for customer support |
Is 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 Type | Minimum Deposit |
| Basic | $200 |
| Silver | $1,000 |
| Gold | $10,000 |
| VIP | $50,000 |
Leverage
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.
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