In this article, we reviewed two leading brokers that come highly recommended for professional traders. Both InstaForex 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 brokers in 2020.
InstaForex (Read the review) | IQ Option | |
|---|---|---|
In A Nutshell | InstaForex has low trading fees and an impressive range of markets. This broker is safe and allows you to trade CFDs, Stock, Forex, and Cryptocurrency. | IQ Option has an account opening fee of $10. It 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 | The UK Forex Awards offered to this broker the Best Forex Cryptocurrency Trading Platform Award in 2018. Also, AtoZ Markets awarded InstaForex the Most Active Broker in Asia Award in 2020. | BinaryOptions.net awarded IQ Option in 2017, 2018, and 2019 the Most Trusted Broker Award. |
Bonus | - | - |
Trading Instruments | Metals, Cryptocurrencies, Stocks, Currency pairs, indices & CFDs on commodities | Binary Options, Digital Options, Stocks, Crypto & Forex |
Demo Account | Yes | Yes |
Minimum Deposit Fee | It ranges from €1 to €1000 based on account type. | $10 |
Minimum Trade Fee | 0.01 Lots | $1 |
Regulations | CySec | CySec |
MetaTrader 4 | Yes | No |
MetaTrader 5 | No | No |
Mobile Apps | Browser-based platform, Android, and iOS apps | Windows, iOS, and Android |
Auto Trading | Copy Trading Available | No |
Trading Signals | Yes | Yes |
Islamic Account | Yes | Yes |
CFD Trading |
| No |
Forex Trading | Access to several account types, such as ECN. This broker can diminish the average spreads to only 0.8 pips. It has the largest range of pairs of any broker on the market:
The total number of assets at InstaForex exceeds 200. | Available on a limited number of currencies. This broker doesn’t excel in forex trading and has high spreads:
The total number of assets at IQ Option is 22. |
Cryptocurrency Trading | This broker provides cryptocurrency trading with extremely low costs on five leading coins and cryptocurrency CFDs. EU traders have leverage of 1:2.
| One of the leading cryptocurrency brokers on the market, IQ Option offers access to a proprietary wallet, Hodly, along with several types of crypto markets.
|
Binary Options | No | IQ Option is one of the top digital trading and binary options brokers. It has the lowest minimum deposit with a payout of 91% |
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