IQFX

IQFX is a forex brokerage founded on September 5, 2024, and registered in Saint Lucia. Its official website is iqfx.live, and the company operates from an address at Ground Floor, The Sotheby Building, Rodney Village, Rodney Bay, Gros-Islet, Saint Lucia. The broker targets retail traders with a focus on forex and CFD trading.

The broker's registration in Saint Lucia means it is not subject to oversight from major financial regulators such as the FCA, CySEC, or ASIC. According to aggregated industry data, IQFX does not hold any regulatory licences, though its own website claims to be 'licensed' without providing specific details.

IQFX offers four account types tailored to different trader profiles. The Standard account requires a minimum deposit of $50 and offers maximum leverage of 1:200. The Stock account has a $500 minimum deposit and lower leverage of 1:100. The Copy account, designed for copy trading, needs $100 and allows 1:200 leverage. The Zero account, with spreads starting from 0.0 pips, has a $1,000 minimum deposit and also offers 1:200 leverage.

All accounts benefit from the broker's advertised features: no swap fees on overnight positions and fast withdrawals within 24 hours. However, traders should note that leverage up to 1:200 carries significant risk, especially for inexperienced investors.

The broker's website does not specify which trading platforms (e.g., MetaTrader 4/5, cTrader) are offered. The known facts indicate no instruments are listed, but given the account naming – 'Stock' – suggests equities trading is possible. The site displays a live market overview with forex pairs, implying at least forex is available.

Social media presence includes Facebook, Instagram, and YouTube, though content and engagement are not detailed. The lack of platform information is a gap that traders may need to clarify before depositing.

IQFX claims to process withdrawals within 24 hours and does not charge swap fees. No specific payment methods are mentioned on the scraped pages, but common forex broker options include bank transfers, credit/debit cards, and e-wallets.

The minimum deposits range from $50 to $1,000 depending on the account type, making the broker accessible to both retail and higher-net-worth traders. However, without clear funding information, traders should exercise caution and verify directly with the broker.

FXCanary's records show IQFX has no regulators on file, and its Saint Lucia registration does not imply financial regulation. The broker's own claim of being 'licensed' is unsubstantiated, and no licence number is provided. This is a significant red flag for traders concerned about fund safety and dispute resolution.

With a FXCanary Scam Risk Score of 75/100 (Severe), IQFX presents considerable risks. New brokers in unregulated jurisdictions often lack investor protection schemes, and traders may have no recourse in cases of fraud or misconduct. Due diligence is strongly advised before committing funds.