Home Brokers comparison Which Broker is Best: TD Ameritrade or IQ Option?

Which Broker is Best: TD Ameritrade or IQ Option?

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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 

YesYes

Minimum Deposit Fee 

No$10

Minimum Trade Fee 

No$1

Regulations 

SECCySec

MetaTrader 4 

NoNo

MetaTrader 5 

NoNo

Mobile Apps 

Android & iOS Windows, Android & iOS 

Auto Trading 

NoNo

Trading Signals 

NoYes

Islamic Account 

NoYes

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: 

 

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

The total number of assets at IQ Option is 22. 

Cryptocurrency Trading 

NoIQ 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. 

 

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

Binary Options 

NoThis 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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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.

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