Home Brokers comparison Which is best: IG Group or IQ Option?

Which is best: IG Group or IQ Option?

523
0
Regal Wallet Banner

This article reviews two trusted brokers that come highly recommended for professional traders. Both IG Group and IQ Option are highly regulated and offer reliable mobile apps and 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 leading brokers in 2020. 

 IG Group IQ Option 

In A Nutshell 

IG Group is a reliable provider with a 40-year track record for spread betting, forex and CFD trading on numerous markets. The FCA regulates it, and it has an excellent trading app. 

 

The downside is that up to 76% of retail investor accounts lose money when trading CFDs and spread bets.  

IQ Option is a leading broker with more than 14 cryptocurrencies and an account opening fee of $10. It offers some of the lowest spreads for digital options and traditional forex, with payouts up to 900%.  

 

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

Awards 

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

Bonus 

Trading Instruments 

Cryptocurrency, forex, futures, options, CFD, Digital Options & Spread betting Cryptocurrency, stock, forex, Binary Options & Digital Options 

Demo Account 

YesYes

Minimum Deposit Fee 

£250 $10

Minimum Trade Fee 

£1 $1

Regulations 

FCA CySec

MetaTrader 4 

YesNo

MetaTrader 5 

NoNo

Mobile Apps 

Android & iOS Windows, iOS, and Android 

Auto Trading 

YesNo

Trading Signals 

Chartist Software available Yes

Islamic Account 

NoYes

CFD Trading 

  • FTSE Spread of 1 pt 
  • USD/GBP Spread of 0.9 pips 
  • Oil Spread of 3 pips 
  • Stock Spread of 0.1% var 
  •  
No

Forex Trading 

IG Group has more than 90 assets: 

 

  • USD/GBP Spread of 0.9 pips 
  • USD/EUR Spread of 0.6 pips 
  • GBP/EUR Spread of 2 pips 
IQ Option has high spreads, limited forex trading currencies, and it doesn’t excel in this area.  

 

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

Cryptocurrency Trading 

This broker has 11 cryptocurrencies available with tight spreads and negative balance protection. 

 

  • Spread – ETH 1.5% & BTC 0.6% 
  • Coins – NEO, DASH, XLM, BTC, BCH, EOS, ETH, XRP & LTC 
This is one of the top cryptocurrency brokers with a proprietary wallet available, Hodly. It has numerous multipliers and a wide array of crypto markets available. 

 

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

Binary Options 

NoIQ Option is a top digital trading and binary options broker, with the lowest minimum deposit and 91% payout.  
Previous article2021 Review: Which is best: Degiro or IQ Option?
Next articleInteractive Brokers vs. Swissquote
Braden Chase is an investor, trading specialist, and former research specialist for Forex.com who helps aspiring investors develop the confidence and habits they need to make an income from the market. Braden has served as a registered commodity futures representative for domestic and internationally-regulated brokerages and has also spoken & moderated numerous forex and finance industry panels across the globe.

LEAVE A REPLY

Please enter your comment!
Please enter your name here