Home Brokers comparison 2020 Review: Which is best: Forex.com or IQ Option?

2020 Review: Which is best: Forex.com or IQ Option?

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This article reviews two leading brokers who come highly recommended for professional traders. Both Forex.com and IQ Option are highly regulated and offer access to reliable mobile apps with low spreads for the best experience.  

After analyzing and testing their demo accounts, we came to the following conclusions. Read on to discover an accurate comparison between two of the leading brokers in 2020. 


Forex.com 

(Read the review)

IQ Option 

(Read the review)

In A Nutshell 

Forex.com has an international reputation thanks to its regulations in Canada, the United States, and the United Kingdom. It is a popular broker, thanks to the vast array of markets, tight spreads, and professional platforms. 

The downside is that up to 72% of retail accounts lose money with this broker. 

IQ Option comes with an account opening fee of $10, and more than 14 cryptocurrencies available. This broker has low spreads for traditional forex and digital options, with payouts up to 900%. 

The downside is that more than 87% of CFD accounts lose money with IQ Option. 

Awards 

DayTrading.com awarded Forex.com with the Best US Broker Award in 2019 and 2020. Also, the awarded this broker with the Runner-Up Best Forex Broker of 2019. 

BinaryOptions.net awarded this broker with the Most Trusted Broker Award in 2017, 2018, and 2019. 

Bonus 

-

-

Trading Instruments 

Cryptocurrency, stocks, CFD, futures & forex 

Cryptocurrency, Binary Options, Digital Options, stocks & forex 

Demo Account 

Yes

Yes

Minimum Deposit Fee 

$100

$10

Minimum Trade Fee 

$1

$1

Regulations 

CIMA, CFTC, IIROC, FSA, FCA & NFA 

CySec

MetaTrader 4 

Yes

No

MetaTrader 5 

No

No

Mobile Apps 

Yes

Windows, iOS, and Android 

Auto Trading 

Available via trading platforms (MT4) 

No

Trading Signals 

Yes

Yes

Islamic Account 

No

Yes

CFD Trading 

  • FTSE Spread of 1 pt 
  • USD/GBP Spread of 1.0 Var 
  • Oil Spread of 0.04 Var 
  • Stock Spread of 0.1% & a minimum commission 

No

Forex Trading 

This is one of the leading forex brokers on the market, with the vastest range of currency pairs and some of the tightest spreads available with an online broker. Forex.com has more than 80 assets. 

  • USD/GBP Spread of 1.0 Var 
  • USD/EUR Spread of 0.7 Var 
  • GBP/EUR Spread of 0.7 Var 

IQ Option has a limited number of forex trading currencies. This broker doesn’t excel in this field, and it has high spreads: 

  • USD/GBP Spread of 5 pips 
  •  USD/EUR Spread of 14 pips 
  •   GBP/EUR Spread of 15 pips 

Cryptocurrency Trading 

Forex.com allows you to trade most of the cryptocurrencies against GBP, EUR, USD, and AUD. There is no virtual wallet required, and all trades have tight spreads. 

  • Spread – ETH 2%, and BTC 1.4% 
  • Coins – XRP, BTC, LTC, ETH & BCH 

This is one of the leading cryptocurrency brokers with access to a proprietary wallet, Hodly. IQ Option has numerous multipliers and access to a wide array of crypto markets. 

  • Spreads - BTC 7%, ETH 12% (Var) 
  • Coins – DASH, OMG, LTC, QTUM, ZEC, BTC, TRX, ETC, ETH, EOS, BCH, XRP 

Binary Options 

No

IQ Option is the leading digital trading and binary options broker, with the lowest minimum deposit and 91% payout. 

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