In this article, we reviewed two leading brokers that are highly recommended for advanced traders. Both AvaTrade and IQ Option are highly regulated and offer access to several trading instruments.
After analyzing and testing their demo accounts, we came to the following conclusions. Read on to discover an accurate comparison between two of the top brokers in 2020.
AvaTrade | IQ Option | |
|---|---|---|
In A Nutshell | AvaTrade is popular due to the powerful integration options and MT4 availability. This top CFD and forex broker has regulations in Canada, Australia, Ireland, and South Africa. The downside is that up to 79% of retail accounts lose money with this broker. | The account opening fee at IQ Option is $10. This broker lets you trade more than 14 cryptocurrencies, along with traditional forex with low spreads and digital options with payouts up to 900%. The downside is that up to 87% of CFD accounts lose money with this broker. |
Awards | DayTrading.com awarded AvaTrade with the Best Forex Broker Award in 2019. | BinaryOptions.net awarded IQ Option with the Most Trusted Broker Award in 2017, 2018, and 2019. |
Bonus | No | No |
Trading Instruments | Crypto, Forex, Stocks, Options & CFDs | Crypto, Forex, Stocks, Binary Options & Digital Options |
Demo Account | Yes | Yes |
Minimum Deposit Fee | $100 | $10 |
Minimum Trade Fee | $1 | $1 |
Regulations | FSB, ASIC, CBol | CySec |
MetaTrader 4 | Yes | No |
MetaTrader 5 | Yes | No |
Mobile Apps | Android & iOS | Android, iOS, and Windows |
Auto Trading | User-friendly Auto Trading via API integration in several platforms like MQL5, Duplitrade, and MetaTrader4 | No |
Trading Signals | No | Yes |
Islamic Account | Yes | Yes |
CFD Trading |
| No |
Forex Trading | This broker has more than 50 currency pairs and some of the best spreads on the market. AvaTrade has regulations on five continents and more than 40 assets:
| IQ Option has limited forex trading opportunities. It has high spreads and doesn’t excel in forex trading:
The total number of assets at IQ Option is 22. |
Cryptocurrency Trading | Since it is regulated on five continents, this broker provides a secure way to trade on crypto markets. Also, it offers an excellent range of crypto, 1:2 leverage, and tight spreads. The downside is that this isn’t available in Canada.
| This is the leading crypto broker on the market with a vast range of crypto markets and a proprietary wallet, Hodly.
|
Binary Options | No | This is a leading digital trading and binary options broker. It has a reliable platform with the lowest minimum deposit and a payout of 91%. |
