In this article, we reviewed two leading brokers who come highly recommended for professional traders. Both TD Ameritrade and IQ Option are highly regulated and offer access to reliable mobile apps and several trading instruments for the best experience. TD Ameritrade is the leading discount broker in the US, while IQ Option is more popular outside the US thanks to the number of cryptocurrencies available for trade.
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.
| TD Ameritrade | IQ Option | |
|---|---|---|
|
In A Nutshell | TD Ameritrade is the leading discount broker in the US. It offers access to several trading products and securities, along with a fixed trading fee. | 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 | – | IQ Option received the Most Trusted Broker Award from BinaryOptions.net in 2017, 2018, and 2019. |
|
Bonus | If you deposit $3k, you’ll receive 60 days of free trades. | – |
|
Trading Instruments | Forex, Futures, Stocks & E-minis | Binary Options, Forex, Digital Options, Crypto & Stocks |
|
Demo Account | Yes | Yes |
|
Minimum Deposit Fee | No | $10 |
|
Minimum Trade Fee | No | $1 |
|
Regulations | SEC | CySec |
|
MetaTrader 4 | No | No |
|
MetaTrader 5 | No | No |
|
Mobile Apps | Android & iOS | Windows, Android & iOS |
|
Auto Trading | No | No |
|
Trading Signals | No | Yes |
|
Islamic Account | No | Yes |
|
Forex Trading | TD Ameritrade has variable spreads for USD/GBP, USD/EUR, and GBP/EUR pairs. | This broker allows you to trade forex 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 | No | IQ Option is one of the top cryptocurrency brokers in 2020, offering access to a proprietary wallet, Hodly. It allows traders to use several crypto markets.
|
|
Binary Options | No | This is the leading binary options and digital trading broker on the market. It offers the lowest minimum deposit, with a payout of 91%. |
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