Last updated: 8 October 2026. The screenshots were recorded on 5 October 2026 on an IQ Option Practice account registered in Brazil. We placed no real-money trade. The forex basics are quoted from IQ Option’s own blog on forex trading for beginners (saved on 5 October 2026), and the order panel notes from IQ Option’s help icons. Spreads and leverage change during the day; read them on your own account.
Forex trading on IQ Option means a margin (CFD) trade on a currency pair: you choose Buy if you expect the first currency of the pair to rise against the second, or Sell if you expect it to fall, you choose how much to invest and the leverage, and the position has no expiry. The Margin menu listed 44 forex pairs on 5 October 2026. Each trade costs a spread, and leverage multiplies both the profit and the loss.
Quick answer
- What it is: a margin (CFD) trade on a currency pair: Buy if you expect the first currency to rise against the second, Sell if you expect it to fall. No expiry.
- Pairs: the Forex group of the Margin menu listed 44 pairs on 4 and 5 October 2026.
- Cost: the spread. On 5 October 2026 EUR/USD showed Buy 1.12108, Sell 1.12102 and a spread of 0.6 pips; the Forex list showed 0.8 half an hour later.
- Leverage: ×1000 on most pairs in the list, ×400 on AUD/CAD, ×200 on USD/JPY and EUR/JPY (5 October 2026). $1 at ×1000 gives a Volume of 1000.
- Volatility we recorded: EUR/USD moved 58 to 122 pips from low to high of the day on five days of 29 September to 5 October 2026.
What is the forex market cap?
A currency market has no market capitalisation like a stock; its size is counted in what is traded each day. IQ Option’s blog says that more than six trillion dollars are exchanged every day as traders, banks and institutions buy and sell currencies.
The blog also says that forex has no central exchange: trades take place over the counter through banks, brokers and online platforms, and trading is continuous, 24 hours a day from Monday to Friday, in three main sessions: Asian, European and U.S. The blog says only that trading runs 24 hours a day from Monday to Friday, so read the hours of your pair in IQ Option’s Trading Specifications and in the asset list before you plan a trade.
How do forex markets work on IQ Option?
You trade currencies in pairs. In EUR/USD the euro is the base currency and the U.S. dollar is the quote currency, and the price says how many dollars one euro costs. The blog groups pairs into major pairs (EUR/USD, GBP/USD, USD/JPY), which are the most traded and have the lower spreads; minor pairs without the U.S. dollar, such as EUR/GBP; and exotic pairs, a major currency against one from a smaller economy, which are more volatile and cost more to trade.
Step 1: Open the Forex list
Click + in the top bar and open Margin (1), then Forex (2). The list showed 44 pairs on 5 October 2026. It has a Spread column and a Leverage column (3), and the leverage differs by pair: EUR/USD (4) showed ×1000 and USD/JPY ×200.
These were the first eleven pairs of the list at 13:25 on the platform clock (UTC−3) on 5 October 2026. Spreads move with the market, so the same pair showed a spread of 0.6 in the order panel half an hour earlier.
| Pair | Spread | Leverage |
|---|---|---|
| EUR/USD | 0.8 | ×1000 |
| USD/JPY | 1.1 | ×200 |
| GBP/USD | 1 | ×1000 |
| GBP/JPY | 1.4 | ×1000 |
| USD/CHF | 0.8 | ×1000 |
| USD/CAD | 1.1 | ×1000 |
| AUD/USD | 1.9 | ×1000 |
| EUR/GBP | 0.8 | ×1000 |
| CHF/JPY | 1.7 | ×1000 |
| EUR/JPY | 1.3 | ×200 |
| AUD/CAD | 2.1 | ×400 |
The Forex group showed 44 currency pairs on 4 and 5 October 2026.
The quotes on IQ Option
A quote has two prices. You buy at the higher one and sell at the lower one, and the difference between them is the spread, which IQ Option’s blog calls the cost of entering a trade.
Step 2: Read the Buy price, the Sell price and the spread
In the order panel the Buy button (1) showed 1.12108, the spread (2) 0.6 and the Sell button (3) 1.12102. The difference, 0.00006, is the 0.6 pips of the spread: a pip is the fourth decimal place of EUR/USD, so 1.1000 to 1.1001 is one pip. A new Buy position therefore starts slightly below break-even, because it opens at the Buy price while it would close at the lower Sell price.
How to use leverage on forex? A multiplier
The Leverage box of the order panel multiplies the amount you invest; its help note calls it “the multiplier”, a coefficient that increases “both the potential profit from the investment and the level of risk”. With $100 invested at ×1000 the Volume is $100,000, so a 0.1% move in the price is worth $100, the whole investment. On the recording the panel showed $1, ×1000 and a Volume of 1000. The full explanation, with the limits IQ Option’s terms set, is in what is leverage on IQ Option.
Stop Loss and Take Profit orders. Auto-closing
The order panel has TP and SL boxes, which showed +50.00% and −25.00% on the recording. Their help note says that the setting “allows you to set profit levels, upon reaching which your position will be automatically closed”, so you do not have to watch the price all day. How to set and edit them is in auto closing on IQ Option, and pending orders are in pending orders.
Forex volatility
On the days we recorded, EUR/USD moved between 58 and 122 pips from its low to its high of the day, which is 0.5% to 1.1% of its price: 60 pips on 29 September, 58 on 30 September, 122 on 1 October, 65 on 2 October (until 20:55 UTC) and 95 on 5 October (until 17:00 UTC). A move of 1% on a $100,000 volume is $1,000, which shows why the same market is risky with leverage. IQ Option’s blog lists among the risks of forex that prices are influenced by global news, interest rates and politics, and that spreads, swaps and overnight fees can reduce profits.
What moves a currency pair?
The blog names three kinds of influence: global news, interest rates and politics. Check the economic calendar before you trade around a release, and see when to trade for the hours when the pairs are most active.
Pros and Cons of Trading Forex on IQ Option
| Pros | Cons |
|---|---|
| The Margin menu offers 44 pairs, from majors to crosses, on one platform. | High volatility and leverage can lead to significant losses. |
| No expiry: you close the position, or TP, SL or the margin rules close it. | The spread is paid on every position, and swaps or overnight fees can apply to open positions. |
| TP and SL can close a position at levels you set. | You have to keep learning: pairs, sessions, news and risk control. |
Common mistakes
- Judging a pair by its spread alone. The spread changes during the day; a pair with a low spread is not safer.
- Using the maximum leverage. At ×1000 a move of 0.1% against you uses up the whole investment.
- Trading a news release without a plan. Check the calendar and decide the exit before you enter.
- Forgetting that the market closes. Forex CFDs have trading hours; see the Trading Specifications page.
Related guides
- Forex for beginners on IQ Option and forex vs options
- What is leverage, what is a CFD and how to calculate CFD profit
- Forex pairs to trade and the time to trade forex
- All indicator guides and all strategy guides
Frequently Asked Questions
Q: How can I minimize the risks associated with forex trading?
A: Set a stop loss and a take profit, keep the leverage low enough that a normal move does not reach your stop, and practise on the Practice balance first. IQ Option’s blog also lists high leverage, volatility, extra costs (spreads, swaps and overnight fees) and emotional pressure among the risks.
Q: What is a pip and what is the spread?
A: A pip is the smallest unit of movement in most pairs, usually the fourth decimal place: 1.1000 to 1.1001 is one pip. The spread is the difference between the Buy and Sell price; on 5 October 2026 EUR/USD showed 1.12108 and 1.12102, a spread of 0.6 pips.
Q: How many currency pairs does IQ Option offer?
A: The Forex group of the Margin menu listed 44 pairs on 4 and 5 October 2026. The number can change.
Q: Which pairs have the highest leverage?
A: In the list of 5 October 2026 most pairs showed ×1000, AUD/CAD ×400, and USD/JPY and EUR/JPY ×200. IQ Option can change these values.
Q: Does a forex trade on IQ Option have an expiry?
A: No. It is a CFD, so there is no expiration time; you close the position, or a take profit, a stop loss or the margin rules do.
Q: Can I practise forex on IQ Option without real money?
A: Yes. The Practice balance starts at $10,000 and has a Refill to $10,000 button.
