Which Is Best for You in 2020? – Expert Option Vs. IQ Option
If you’re in the market for a binary options broker, there are a few things that you need to do to ensure that you have chosen the best one. The first step is always to run a “background check” on each of the brokers you are considering. These “background checks” consist of looking at their legitimacy, what fees or fines they’ve had to pay, who regulates them, and the kinds of fees they charge. It’s also essential to evaluate how they charge their fees as there is often confusion in fee structures between brokers. Two binary options brokers that get a lot of attention worldwide are Expert Option and IQ Option. But the question remains, “Which one is best for you?” In the rest of this article, we will discuss various attributes of each of these brokers and how each one could be the best one for you.
1. IQ option
With over 25 million active traders, IQ Option is probably the largest binary options broker in 2020. They are well regulated and licensed in Cyprus. They offer three account types: the Demo Account, the Real Account, and the Premium Account.
Demo – Many different brokers offer demo accounts. At IQ Option, the Demo Account is a free virtual account that can be used by beginning traders as well as experienced traders to test out new trading strategies.
Real – The Real Account is the standard trading account at IQ Option. The Real Account has a minimum required deposit of only $10, but which is also a minimalistic account. If you’d like more benefits attached to this Real Account, increase your minimum deposit to over $100.
Premium – The Premium Account at IQ Option is the most advanced account they offer. It requires a minimum deposit of $3000 and includes a personal account manager.
IQ Option offers over 300 tradable assets that all pay up to 90% profit on withdrawals.
Minimum deposit at IQ Option is $1.
2. Expert Option
Established in 2015, Expert Option is headquartered in Saint Vincent and the Grenadines and currently has nearly 9 million active traders on its platform. While they do not allow traders from Israel, Switzerland, Canada, or the United States, Expert Option is available in over 150 other countries.
Expert Option offers five account types, which are:
Basic Account: $50 minimum deposit
Silver Account: $500 minimum deposit
Gold Account: $2500 minimum deposit
Platinum Account: $5000 minimum deposit
Exclusive Account: Invite only.
Expert Option offers more than 100 tradable assets with up to 95% profit on withdrawals. There are lots of different trading strategies which are possible based on that.
Which is the best option for you?
The most critical step in choosing a binary options broker is, surprisingly, not the fees. Instead, it is the trustworthiness or legitimacy of the broker. We strongly recommend that you choose a broker that is regulated by recognized authorities and makes it possible to trade with different binary option strategies. IQ Option is regulated by CySEC, an internationally recognized regulator. On the other hand, Expert Option is regulated by the CROFR, which is NOT a respected regulator. This one fact moves us to judge that IQ Option is the better broker, whether you are a beginning or an experienced trader.