This document outlines all relevant fees for IQOption Europe Ltd.
1. DEPOSIT FEES
There are no deposit fees charged to the Client.
2. COMMISSION FEES
The Company reserves the right to charge the following commissions for opening CFD cryptocurrency trading positions:
- A fee which shall vary from 1% to 2.5% of the transaction for opening unleveraged CFD cryptocurrency positions
- A fee of up to 5% of the transaction for opening leveraged CFD cryptocurrency positions
- Clients are entitled to use OTN tokens to reduce the brokerage commission charged by the Company for opening CFDs on cryptocurrencies. For this purpose, one OTN token shall be equal to one USD rebate. In case the Client has an account in a currency other than USD, the conversion rate shall be equal to the current FX rate (provided by Thomson Reuters) of the client's account currency to USD + up to 1% spread
3. WITHDRAWAL FEES
There are no withdrawal fees charged for withdrawals through payment system providers. Due to system limitations, withdrawals less than €2 or the equivalent in another currency cannot be processed. If a Client wishes to withdraw this amount, the Client may request a withdrawal by contacting the customer support service.
The withdrawal fee charged for withdrawals through bank transferring is €50 or the equivalent in another currency for every withdrawal.
4. DORMANT ACCOUNT FEES
Definition of Dormant Account
An account shall be considered ‘dormant’ in the absence of any account activity for a period of at least ninety (90) consecutive days. Account activity is defined as execution of trades/positions or trades/positions that are open and pending.
The Company reserves the right to charge a fixed administration fee of €50 (fifty Euros or the relevant amount on another currency on the day of deduction of the fee) every month in order to maintain the account, on the condition that the Client account has the available funds.
The administration fee shall be deducted from the Client’s account on the 90th calendar day of inactivity when the account is considered dormant. Further to this, each month the Company will consider the activity over the past 90 days in determining if the administrative fee will be charged again.
The Company strives to ensure and keep correspondence with each respective Client and will inform the Client by email that their account will be treated as Dormant Account.
If the Client account does not have the necessary funds for the administration fee and has remained inactive for a period of 12 months, the Company reserves the right to charge a lower amount to cover administrative expenses and close the account completely.
All the amounts of the fees and other expenses are stated without any taxes and charges that may be imposed on the mentioned fees either from the side of the Client or the Company.
5. VERIFICATION ACCOUNT CLOSURE FEE
The Company reserves the right to charge the client for closure of their account, in circumstances where the closure of the account is made because the client has not provided accurate & appropriate documentation to verify his/her account.
If the client does not provide the Company with documents to verify his/her account, in line with the Law, within 15 days from the date of his/her first deposit (“start of business relationship”), the Company will return all remaining funds, excluding profits. In instances where the remaining balance in the clients account is less than 5€, the Company will charge up to *5€ (five Euros or the relevant amount on another currency on the day of deduction of the fee) for the closure of the account.
In instances where the client’s remaining balance is above €5, no charge will be made for return of these funds.
*For full conditions please refer to the Company’s Terms & Conditions.
6. Spreads (applicable only for CFDs)
The Spread is the difference between the bid (sell) and ask (buy) price. The difference is presented in pips and reflects the cost of opening a position.
7. Swaps (applicable only for leveraged CFDs)
The Company reserves the right to charge the Client a swap fee (of 0.03% of the face value of the position) for keeping a position open overnight. This swap fee can be subject to changes in the future. The swap fee is calculated as the rounded result of the following formula: (10%)/360) + Libor rate.
IQOPTION EUROPE LTD – LIST OF PAYMENT SERVICE PROVIDERS (PSPs)
The below list outlines the full list of IQOption Europe Ltd’s PSPs, and includes their country of establishment and their regulatory authority (if applicable):
|Payment Service Provider||Country of Establishment||Regulatory Authority|
|Skrill Ltd||United Kingdom||Financial Conduct Authority (reference number 900001)|
|Neteller (Paysafe Merchant Services Limited)||Isle of Man||Isle of Man Financial Services Authority (reference number 1357)|
|Safecharge Limited (Gate2Shop)||Cyprus||Central Bank of Cyprus|
|ECommPay Limited||United Kingdom||FCA (reference number 607597)|
|Webmoney (Paymaster24 Ltd)||United Kingdom||FCA (reference number 599682)|