IQ Study

IQ Option ranks among the best brokerage firms available to retail investors. However, traders believe in numbers, not words. This is why we compared IQ Option with 4 competing brokers in various parameters:

  • Investment options
  • Spreads
  • Fees
  • Trading platforms
  • Charting features
  • Market research tools
  • Account types

Compare the characteristics that are important to you and team up with the best broker!

General 

IQ OptionXMPocket Option Forex.comOlymp Trade
App Store rating3.7No app4.03.44.2
Google Play rating4.1No app4.23.04.2
Years in business764206
LeverageUp to 1:1000Up to 1:888Up to 1:500Up to 1:50Up to 1:500
Payment optionsCredit card, Perfect Money, Skrill, Neteller, WebMoney, Wire Transfer, local banks, bitcoinCashu, Credit card, Perfect Money, QIWI, Sofort, Sticpay, UnionPay, WorldPay, Yandex MoneyPerfect Money, AdvCash, Bitcoin, vLoad, Litecoin, Stellar, Ethereum, Jeton, Ripple, Zcash, Tether, TrueUSD, USDK, USD Coin, DAI, Paxos StandardCredit card, Giropay, MoneyGram, Paysafecard, Wire TransferPerfect Money, Skrill, Neteller, Bitcoin, Tether, Ethereum, WebMoney, bank transfer
Customer support24/7 in Thai, English, English (India), Vietnamese, Indonesian, Spanish, Portuguese, German, Russian, French, Italian, Swedish, Hindi, Chinese (Mandarin Simplified), Korean, Turkish, Bengali24/5 in English, Greek, Simplified Chinese, Traditional Chinese, Malay,  Indonesian, Russian, French, Spanish, Italian, German, Polish, Hindi, Arabic, Portuguese, Czech, Slovakian, Bulgarian, Romanian, Bengali, Urdu, Thai, Nepali, Tagalog, Vietnamese, Cebuano, Korean, SerbianEnglish, Thai, Vietnamese, Indonesian, Spanish, Portuguese, Russian, French, German, Italian, Swedish, Hindi, Chinese (Mandarin Simplified), Korean, Turkish, Malay, Arabic, Urdu, Bengali, Japanese, Romanian, Greek10 a.m. Sunday – 5 p.m. Friday in English24/7 in English, Thai, Vietnamese, Indonesian, Spanish, Portuguese, Russian, French, Hindi, Chinese (Mandarin Simplified), Korean, Turkish, Malay, Arabic
LanguagesEnglish, Spanish, Portuguese, Italian, German, Indonesian, Russian, French, Swedish, Hindi, Vietnamese, Chinese, Korean, Thai, Turkish, BengaliEnglish, Spanish, Portuguese, Italian, German, Indonesian, Russian, French, Swedish, Hindi, Vietnamese, Chinese, Korean, Thai, Malay, Greek, Arabic, Filipino, Hungarian, Bengali, Dutch, Polish, Czech  English, German, Russian, Polish, Chinese, Arabic, Hindi, Portuguese, Indonesian, Vietnamese, Turkish, Serbian, Greek, Spanish, French, Farsi, Japanese, Romanian, Italian, Thai, Malay, Korean, CroatianEnglish, Spanish, German, Polish, Lithuanian, Russian, ArabicEnglish, Portuguese, Chinese, Spanish, Hindi, French, Malay, Indonesian, Turkish, Vietnamese, Thai, Arabic, Russian, Korean, Japanese
Social tradingNoNoYesNoNo
Copy tradingNoYesNoNoNo
Auto tradingNoEAsNoEAsEAs
Live chatYesYesYesYesYes
Affiliate programYesYesYesYesYes
SpecialsTournaments, free webinars, VIP statusRefer a friend, 100% bonus, free VPN, Loyalty programTournaments, deposit bonus, cashbackWelcome bonusPromo Code 50%, 30%
Account currencyUSD, GBP, EUR, THB, IDR, VND, Peso, MYR, CNY, BRL, ZAR, RUB, LYR, INRUSD, EUR, GBP, JPY, CHF,‎ AUD, HUF, PLN, RUB, SGD, ZARUSDUSD, EUR, GBPUSD, EUR
OTC tradingYesYesYesN/AYes
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Trading assets

IQ OptionXMPocket OptionForex.comOlymp Trade
Stocks1801,295022021
Binary options 4906000
Digital options170000
Forex pairs225709133
Cryptocurrencies 260084
Commodities 4130126
Indices0001814
ETFs2314004
TOTAL29513796034182

Spreads*

IQ OptionXMPocket OptionForex.comOlymp Trade
Forex
EUR/USD0.000060.000171.5 1.0746 
GBP/USD0.00010.000222.0 1.8 
Binary options
EUR/USD0.000060.00004
GBP/USD0.00010.00015
Cryptocurrencies
Bitcoin181.9680.02
Ethereum1.7930.02
Commodities
Crude Oil WTI0.1160.04 0.05 0,004
Gold0.92920.350.60,004
Silver0.0430.035 0,040,004
Stocks
Apple0.7940.270.01N/A
Tesla5.1724.570.1N/A

*The average spreads in this chart are calculated throughout the day and may vary depending on the market conditions. 

Minimum values

IQ OptionXMPocket OptionForex.comOlymp Trade
Minimum deposit$10$5$5$100$10
Minimum withdrawal$2$5$10$100$10
Minimum trade$10.01
micro lot
$1$1$1

Fees

IQ OptionXMPocket OptionForex.comOlymp Trade
Swap (e.g. EUR/USD)*-0.0028 -0.0084 -0.56 -0.84 N/A-1.46 -0.06 -0.0038
Inactivity fee$10/month after 90 days $5/month after 90 days0$15/month after 12 months$10/month after 180 days
Deposit fee00000
Withdrawal fee1 free withdrawal per month; 2% fee (but no more than $30) on each subsequent withdrawal 00; 0.5% commission on Perfect Money payments0; $40 for international wire transfers0
Fees per tradeNoFor Zero trading accountsNoNoYes

*Swap fees are subject to change.

Trading platforms

IQ OptionXMPocket OptionForex.comOlymp Trade
MT4XXX
MT5XXX
Desktop (Windows)
Desktop (Mac)
Web
Mobile app (Android)
Mobile app (iOS)
Mobile app (Windows)XXX

Traderoom features

IQ OptionXMPocket OptionForex.comOlymp Trade
Indicators10050306723
Drawing toolsTrend, horizontal, vertical, Fibonacci lines, Fibonacci arc lines, Fibonacci spiralTrend, Fibonacci, cycle, Elliott, Gann, geometric shapes Horizontal, vertical lines, Ray, Trend, Fibonacci, Parallel Channel, Rectangle, Andrew’s PitchforkTrend, Gann, Fibonacci, geometric shapesTrend, horizontal, vertical, Fibonacci, Ray
Chart typesBar, line, candlestick, Heikin-AshiBar, line, candlestickArea, lines, bars, candles, Heikin-AshiBar, line, Japanese candlestick, hollow candlestick, Heikin-Ashi, line, baseline, Renko, line break, Kagi, Point and FigureArea chart, Japanese candlesticks, Heikin-Ashi, bars
Candle time periods5 seconds – 1 month1 minute – 1 month5 seconds – 1 day1 minute – 1 month15 seconds – 1 month
AlertsYesYesNoYesNo
Stop-Loss and Take-ProfitYesYesNoYesYes
LeaderboardYesNoNoNoNo
Keyboard shortcutsYesYesYesYesYes

Market research

IQ OptionXMPocket OptionForex.comOlymp Trade
NewsYesYesNoYesYes
Economic calendarYesYesNoYesYes
Traders’ sentimentYesYesYesNoYes
EducationYesYesYesYesYes

Account types

IQ OptionXMExpert OptionForex.comOlymp Trade
Demo+++++
Standard+++++
Micro+
VIP++
VIP account offersIncreased profitability, training materials, personal manager, access to all tournamentsN/AN/AN/AIncreased profitability, higher maximum trade amount, risk-free trades, training materials, personal manager, strategies, special events
Islamic+++
ECN++
DMA+
Margin trading +++++

Summary

As appears from the comparison tables, IQ Option competes with high-profile brokers and goes head-to-head with them in the main parameters: assets, platform functionality, market research tools, and trading conditions. 

Pros

The most notable difference is the options trading offers – IQ Option and Expert Option are the only ones to have these instruments, although Expert Option doesn’t offer any other instruments aside from binary options

Those who take technical analysis seriously will find the biggest indicators selection at IQ Option – over 100. The templates feature allows traders to create their favorite indicator combos and save them for further use. 

IQ Option also stands out in terms of trading platform usability – only Olymp Trade and Pocket Option can compete with it. All three have proprietary platforms that are way more understandable than the classic MT4 and MT5 and thus more accessible for the general public. This along with competitive spreads, low deposit and investment amounts, zero fees per trade, and a variety of international and local payment options make IQ Option a top choice for beginner and advanced-level traders. 

On top of that, IQ Option is the only one of the presented brokers to have a charitable foundation that contributes to the social well-being of the most vulnerable local community of least developed African countries. If social responsibility means something to you, that would score one for IQ Option too.  

Cons

Some may find the lack of MT4 and MT4 platforms rather upsetting. Another thing that distinguishes IQ Option from its competitors is а limited amount of free withdrawals. Traders can withdraw their profit at zero cost once a month, but they have to pay a small fee for each subsequent one. If you are the type of trader that likes to make withdrawals frequently, that might be a little upsetting.  

The IQ Option’s asset choice is significantly outnumbered by XM with its 1000+ stock collection that leaves all the competitors far behind. However, IQ Option is an absolute leader when it comes to cryptocurrency trading.

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