This article reviews two leading brokers that we highly recommend for both professional and beginner traders. Both XM.com and IQ Option are highly regulated and offer access to reliable mobile apps with low spreads for the best experience. These brokers have some of the lowest minimum deposit and trading fees available.
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.
| XM.com | IQ Option | |
|---|---|---|
|
In A Nutshell | XM.com is a broker with several account types and low minimum deposit fees to suit all traders, no matter their level of experience. This provider offers an excellent service with access to 1000+ markets and low spreads.
The downside is that up to 73% of retail accounts lose money with XM.com. | IQ Option provides an account opening fee of $10 and more than 14 cryptocurrencies. It is a broker with 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 this broker. |
|
Awards | In 2017, this broker was awarded the Best Forex Execution Broker – Shares Award, while in 2018, it received the Best FX Broke Europe Award – World Finance. | BinaryOptions.net awarded this broker with the Most Trusted Broker Award in 2017, 2018, and 2019. |
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Bonus | Free VPN Services | – |
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Trading Instruments | Commodities CFDs, Precious Metals CFDs, Energies CFDs, Forex CFDs & Equity Indices CFDs. | Stocks, forex, Binary Options, Digital Options & Cryptocurrency |
|
Demo Account | Yes | Yes |
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Minimum Deposit Fee | 5 $/€/£ | $10 |
|
Minimum Trade Fee | 0.01 Micro lots | $1 |
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Regulations | ASIC, CySec & IFSC | CySec |
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MetaTrader 4 | Yes | No |
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MetaTrader 5 | Yes | No |
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Mobile Apps | Windows, iOS & Android | Windows, iOS, and Android |
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Auto Trading | No | No |
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Trading Signals | Yes | Yes |
|
Islamic Account | Yes | Yes |
|
CFD Trading |
| No |
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Forex Trading | XM.com offers extremely low spreads for several forex markets. It has flexible lot sizes, XM Zero, and Micro accounts for all levels of trading experience. This broker has more than 55 assets.
| This broker has limited forex trading currencies, and it doesn’t excel in this field. IQ Option has high spreads:
USD/GBP Spread of 5 pips
USD/EUR Spread of 14 pips
GBP/EUR Spread of 15 pips |
|
Cryptocurrency Trading | No | IQ Option is one of the top cryptocurrency brokers with a proprietary wallet, Hodly. It has several multipliers and a wide array of crypto markets available.
|
|
Binary Options | No | This is the leading digital trading and binary options broker, with the lowest minimum deposit and 91% payout. |
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