- 2 IQ Option vs Expert Option: key comparison criteria
- 3 Pros and Cons of IQ Option vs Expert Option 📊
- 4 Comparison of Key Features 🔍
- 5 Conclusion on IQ Option vs Expert Option fight
- 6 FAQ: Frequently Asked Questions 📌
- 7 GENERAL RISK WARNING
This material is not intended for viewers from EEA countries. Binary options are not promoted or sold to retail EEA traders.” Please write the disclaimer in the language of the material.
Today we have a clash of two rivals IQ Option vs Expert Option. May the better one win! Expert Option and IQ Option are two of the most popular online trading platforms. Since their launch, both have managed to attract millions of users from across the globe. But if you're a new trader looking for a broker to invest with, which one would you choose?
|→IQ Option and Expert Option are both popular online trading platforms, offering various asset classes.|
|→IQ Option has a larger number of active traders and higher monthly transactions compared to Expert Option.|
|→Both platforms offer multiple account types, payment methods, and excellent customer support. However, always conduct your own research before investing.|
IQ Option vs Expert Option: key comparison criteria
This review will compare them side by side. In it, I'll cover the most important features to look for when searching for an online broker. These include the following:
- How long the broker has been operational
- The regulatory body monitoring the broker's activities
- Active traders
- Account types offered
- Types of assets offered
- Returns on trades (options)
- Payment methods accepted
- Deposits and withdrawals
- Additional features
Let's get started.
How long IQ Option vs Expert Option have been operational
Both Expert Option and IQ Option have their offices in Saint Vincent and Grenadines. Expert Option was launched in 2014, while IQ Option was launched in 2013.
Since its inception, Expert Option has managed to attract over 11 million active traders and has over $30 million worth of transactions conducted each month. IQ Option on the other hand has over 50 million traders and has over $380 million worth of transactions per month.
Both platforms have attracted traders from different regions across the globe. Their clients primarily come from Latin America, Asia, Eastern Europe, the Middle East and Africa. Note that both brokers do not offer their services to residents and citizens of North America, Australia, New Zealand and other countries.
Expert Option has 5 different account types.
Their Basic account requires a minimum deposit of $50. With this account, you can invest a maximum of $25 per trade and have a maximum of 10 open trades at a time.
The Silver account requires a minimum deposit of $500. With this account, you can invest a maximum of $250 per trade and have a maximum of 15 open trades at a time. You'll also get a personal manager as well as daily market reviews and financial research.
The Gold account requires a minimum deposit of $2500. With this account, you can invest a maximum of $1000 per trade and have a maximum of 30 open trades at a time. You'll also get a personal manager, daily market reviews and financial research, priority withdrawal and up to 2% extra on profitable trades.
The Platinum account requires a minimum deposit of $5000. With this account, you can invest a maximum of $2000 per trade and have unlimited number of open trades at a time. You'll also get an account manager, daily market reviews and financial research, priority withdrawal and up to 4% extra on profitable trades.
The Exclusive account is invitation only. With this account, you can invest a maximum of $5000 per trade and have unlimited number of open trades at a time. You'll also get a senior account manager, daily market reviews and financial research, priority withdrawal, access to strategies and up to 6% extra on profitable trades.
IQ Option on the other hand has 2 account types. The Standard account requires a minimum deposit of $10. Standard account holders get access to all financial instruments and can invest as little as $1 per trade.
Traders can invest up to $20,000 per trade. The VIP account is available for traders with a significant deposit (exact amount is subject to change). VIP account holders benefit from faster withdrawals, account managers and free trading eBooks.
Both platforms also offer demo accounts which come credited with $10000 virtual cash. The demo accounts can be recharged of the balance becomes depleted.
Types of assets offered
Both platforms offer hundreds of assets drawn from different classes. These include digital options, forex, stocks, commodities and cryptocurrencies. This diverse selection of financial instruments is perhaps the main reason for their growth in such a short time.
Returns on trades
Both platforms offer good returns. These range between 70% and 90% for Expert Option and 65% to 95% for the IQ Option. Note that the return depends on the asset you're trading as well as the time you're trading.
Payment methods accepted
Both Expert Option and IQ Option accept over 20 different payment methods. These include credit/debit cards and eWallets such as Skrill and Neteller. IQ Option stands out, however. They are continuously adding new payment methods. Recently, they added Jeton Wallet to their list.
Deposits and withdrawals
Depending on your deposit method, it might take a few minutes to several days for your deposit to reflect on your trading account. Depositing with an eWallet or debit/credit card is faster. Withdrawals are usually processed within hours or up to 5 business days depending on your account type.
Note that Gold, Platinum and Exclusive account holders for Expert Options and VIP account holders for IQ Option get priority withdrawals. These are processed within 24 hours.
Expert Option and IQ Option are accessible via web browser, desktop apps (Windows and macOS) as well as smartphone apps (Android and iOS).
Both platforms have excellent customer support. Their support team can be reached through phone, chat, email and even social media.
Both platforms have well designed intuitive trading interfaces. Both support line, bar and candle charts. The IQ Option platform however supports more indicators and tools. It also has larger candle time intervals where Expert Option candle intervals are limited to 60 seconds.
Expert Option has a social trading feature. This allows you to interact with other traders on the platform. It also allows you to view other traders' trades in real-time. Their social network groups also come in handy for beginner traders. IQ Option on the other hand has a support and chat feature which allows you to interact with other traders on the platform.
Pros and Cons of IQ Option vs Expert Option 📊
|IQ Option||Expert Option|
|👍 Larger number of active traders||👍 Offers social trading features|
|👍 Higher maximum returns on trades||👍 Accessible account types with a lower minimum deposit|
|👍 More advanced trading tools and indicators||👍 Intuitive trading interface|
|👎 Only two account types||👎 Limited candle time intervals|
|👎 Fewer assets offered compared to Expert Option||👎 Smaller number of active traders and lower transaction volume|
Comparison of Key Features 🔍
|Feature||IQ Option||Expert Option|
|Asset Classes||Digital options, forex, stocks, commodities, cryptocurrencies||Digital options, forex, stocks, commodities, cryptocurrencies|
Conclusion on IQ Option vs Expert Option fight
Both platforms are great for both beginner and expert traders. IQ Option is a good choice for traders who want to start small as well as trade options. Expert Option on the other hand offers more trading accounts although their basic account requires a larger deposit.
In the IQ Option vs Expert Option battle, it is difficult to pick a single winner. Often the choice of broker is also related to individual preferences. For us, however, it is IQ Option that wins today's duel. It has a much better trading interface and is a more flexible platform. Not without importance are the higher payouts.
Which of these two platforms have you traded on? Kindly share your experience in the comments section below. Be sure to also watch the IQ Option vs Expert Option video below the article.
FAQ: Frequently Asked Questions 📌
- Q: Are both IQ Option and Expert Option safe for trading?
- A: Yes. However, always conduct thorough research and understand the risks involved in trading before investing.
- Q: Can I use both platforms on my mobile device?
- A: Yes, both IQ Option and Expert Option offer mobile apps for Android and iOS devices, allowing you to trade on the go.
- Q: Are both IQ Option and Expert Option safe for trading?
- Q: Which platform offers a wider range of assets to trade?
- A: Both platforms offer a diverse range of assets, including digital options, forex, stocks, commodities, and cryptocurrencies. However, Expert Option has a slightly larger selection.
- Q: Can I open a demo account on both platforms?
- A: Yes, both IQ Option and Expert Option offer demo accounts with $10,000 in virtual funds, allowing you to practice and learn before investing real money.
- Q: How do I withdraw my earnings from these platforms?
- A: Both platforms offer multiple withdrawal methods, including credit/debit cards and eWallets. Withdrawal processing times vary depending on your account type and the method used.
GENERAL RISK WARNING
Kindly note that this article does not provide any investment advice. The information presented regarding past events or potential future developments is solely an opinion and cannot be guaranteed as factual, including the provided examples. We caution readers accordingly.
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