In this article, we reviewed two leading forex brokers that are highly recommended for professional traders. Both IC Markets and IQ Option are highly regulated and offer access to reliable mobile apps and several trading instruments 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 forex brokers in 2020.
IC Markets (Read the review) | IQ Option | |
|---|---|---|
In A Nutshell | IC Markets is the leading True ECN forex broker worldwide. It allows its users to trade forex on 0.0 pip spreads. | IQ Option has an account opening fee of $10. It lets traders choose from more than 14 cryptocurrencies and offers 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 this broker. |
Awards | DayTrading.com awarded IC Markets with the Best Overall broker and Best Trading App awards in 2020. | BinaryOptions.net awarded IQ Options with the Most Trusted Broker Award in 2017, 2018, and 2019. |
Bonus | - | - |
Trading Instruments | Cryptocurrency, CFD, Forex & Futures | Forex, Binary Options, Digital Options, stocks & cryptocurrency |
Demo Account | Yes | Yes |
Minimum Deposit Fee | $200 | $10 |
Minimum Trade Fee | 0.01 Lots | $1 |
Regulations | FSA, ASIC & CySec | CySec |
MetaTrader 4 | Yes | No |
MetaTrader 5 | Yes | No |
Mobile Apps | Windows, iOS, and Android | Windows, iOS, and Android |
Auto Trading | Available with EQUINIX NY 4 | No |
Trading Signals | Available with Robot Feature | Yes |
Islamic Account | Yes | Yes |
CFD Trading |
| No |
Forex Trading | IC Markets is the leading True ECN forex broker on the globe, offering 0.0 pip spreads. It is an excellent choice for professional traders thanks to the ASIC regulation and more than 56 assets.
| This broker offers a limited number of forex trading currencies. It doesn’t excel in this area, and it has high spreads:
|
Cryptocurrency Trading | This broker has small spreads and several cryptocurrencies. Also, it provides access to crypto coins not available with other brokers without the necessity of a virtual wallet.
| IQ Option is one of the leading cryptocurrency brokers on the market, and it offers access to a proprietary wallet, Hodly. This broker has several multipliers and access to numerous crypto markets.
|
Binary Options | No | This is a leading binary options and digital trading broker, with the lowest minimum deposit and a payout of 91%. |
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