IQ Option Vs FXTM [Which One Is Best & Most Reputable?]
Are you searching for a reliable trading platform to fulfill your financial goals? With countless options out there, it can be overwhelming to choose the right one. That's where IQ Option and FXTM come in. These two popular trading platforms have attracted the attention of traders worldwide. But how do they compare against each other?
In this blog, we'll take a comprehensive look at IQ Option vs FXTM and highlight their features to help you make an informed decision. Whether you're a seasoned trader or just starting, this comparison will help you understand which platform suits your needs better.
Skip Ahead
What Is IQ Option?
IQ Option is a popular online trading platform that offers a variety of financial instruments, including Forex, CFDs, cryptocurrencies, and options trading. Founded in 2013, it has become one of the fastest-growing trading platforms, with over 48 million registered users worldwide.
The platform's user-friendly interface, low minimum deposit requirement, and comprehensive educational resources make it an attractive choice for novice traders. Additionally, IQ Option provides advanced trading tools and features, such as technical analysis tools, price alerts, and a wide range of charting options.
The platform is regulated by the Cyprus Securities and Exchange Commission (CySEC), ensuring that it adheres to strict financial standards. Overall, IQ Option is a reliable and secure platform for traders of all levels looking to profit from the financial markets.
How To Use IQ Option?
To use IQ Option,- first, you must create an account by registering on their website. The registration process is simple and requires you to provide basic personal information.
Once your account is set up, you can deposit using various payment methods, including credit/debit cards, e-wallets, and bank transfers. The minimum deposit amount is $10, making it accessible for traders with different budgets.
After depositing funds, you can start trading by selecting your preferred financial instrument, such as Forex or options trading. IQ Option provides a user-friendly trading interface that allows you to execute trades quickly and easily.
You can also use the platform's advanced trading features, such as technical analysis tools, to help you make more informed trading decisions.
What Is FXTM?
FXTM (ForexTime) is a leading online trading platform that provides access to the global financial markets. The platform was founded in 2011 and has since grown into one of the most reputable and reliable brokers in the industry, with clients in over 180 countries.
FXTM offers a range of financial instruments, including Forex, CFDs, and cryptocurrencies, and provides its clients access to various trading platforms, including the popular MetaTrader 4 and 5 platforms.
FXTM is regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC), ensuring that it adheres to the highest standards of financial regulation.
FXTM also offers clients a range of educational resources, including webinars, seminars, and video tutorials, to help traders of all levels improve their knowledge and skills.
How To Use FXTM?
To get started, register on their website by creating an account. The registration process is simple and requires you to enter basic personal information.
After successfully setting up your account, you can deposit funds using multiple payment methods such as credit/debit cards, e-wallets, and bank transfers. The minimum deposit amount depends on the account type you select.
After depositing funds, you can start trading by selecting your preferred financial instrument, such as Forex or CFDs. FXTM offers access to various trading platforms, including MetaTrader 4 and 5, which are user-friendly and provide advanced trading tools such as technical indicators, charting options, and automated trading.
IQ Option vs FXTM
Both IQ Option and FXTM are reputable and reliable online trading platforms that provide access to the global financial markets. However, there are some differences between the two that are worth considering.
| Aspect | IQ Option | FXTM |
|---|---|---|
| Company Overview | Trading platform for multiple assets | Online forex and CFD broker |
| Regulation | Regulated by CySEC and IFSC | Regulated by FCA, CySEC, and FSCM |
| Trading Platforms | Proprietary platform for desktop, web, and mobile | MetaTrader 4 and MetaTrader 5 for desktop, web, and mobile |
| Trading Instruments | Forex, stocks, cryptocurrencies, and commodities | Forex, stocks, cryptocurrencies, and commodities |
| Minimum Deposit | $10 | Varies by account type, starting from $10 |
| Account Types | Standard and VIP | Standard, Cent, ECN, and FXTM Pro |
| Spreads and Commissions | Credit/debit cards, bank transfers, and e-wallets such as Skrill and Neteller | Variable spreads on Standard account, no commissions. Lower spreads and no overnight fees on VIP accounts. |
| Leverage | Up to 1:1000 on forex, up to 1:100 on stocks | Up to 1:2000 on forex, up to 1:10 on stocks |
| Education and Research | Video tutorials, webinars, knowledge base, daily market analysis, and news feed | Email, phone, and live chat are available 24/7 |
| Customer Support | Email, phone, and live chat are available 24/5 | Same as the IQ Option |
| Deposit and Withdrawal Options | Same as the IQ Option | Same as IQ Option |
| Safety and Security | SSL encryption, customer funds in segregated accounts | Same as FXTM |
Fees
IQ Option and FXTM are two of the most popular online brokers in 2023, offering traders a range of services to suit their needs. Both companies offer commission-free Forex trading, with IQ Option offering minimum spreads of 0.3 pips or $3 per lot and FXTM offering spreads starting at 0.1 pips.
In terms of fees, both companies have competitive offerings. IQ Option charges no deposit fees and has a minimum deposit requirement of $10, while FXTM has no minimum deposit requirement but does charge a withdrawal fee depending on the payment method used. Both companies offer leverage up to 1:500 for Forex trading and 1:30 for CFDs.
Security
IQ Option and FXTM take security seriously and have implemented measures to protect their clients' information and funds.
IQ Option is regulated by several financial regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Conduct Authority (FCA) in the UK.
They also use SSL encryption to protect their client's data, and their website and trading platform have several security features, such as two-factor authentication and anti-fraud protection.
FXTM is regulated by multiple regulatory bodies, including the Cyprus Securities and Exchange Commission (CySEC) and the Financial Services Commission (FSC) in the Republic of Mauritius. FXTM also uses SSL encryption to protect its clients' data and offers two-factor authentication for added security.
Investment And Trading Options
IQ Option offers a broader range of financial instruments for trading, including options trading, Forex, stocks, ETFs, cryptocurrencies, and commodities. They also offer social trading, which allows traders to copy the trades of other successful traders.
FXTM primarily focuses on Forex and CFD trading, with a wide range of currency pairs and CFDs available for trading. They also offer access to some of the most popular trading platforms, such as the MetaTrader 4 and 5 platforms, which can be customized to suit traders' preferences.
Liquidity
IQ Option offers some of the highest levels in the industry. This is due to its extensive network of global liquidity providers who provide pricing structures that are slightly marked up compared to the underlying market prices. This ensures traders can access competitive spreads and execute orders quickly and efficiently.
FXTM provides competitive liquidity with tight spreads on all major currency pairs. However, its liquidity is not as deep as IQ Option due to its smaller network of liquidity providers. That said, FXTM still provides reliable execution speeds and competitive spreads on all major currency pairs.
Rewards
IQ Option offers a range of rewards, including low spreads on traditional forex trades, as well as the ability to trade over 14 cryptocurrencies directly. It also has a user-friendly platform that is easy to use and has won multiple awards. With just $10, you can open an account with IQ Option and start trading right away.
FXTM offers low spreads on traditional forex trades, as well as Islamic accounts, for Muslim clients who wish to convert their accounts into Sharia-compliant ones. Additionally, they offer a $50 referral award when you bring a friend to open an account. The platform is suitable for both experienced traders and beginners alike.
Account
IQ Option offers three account types: Standard, VIP and Islamic. The Standard account requires a minimum deposit of $10 and offers leverage up to 1:30. It also provides access to more than 250 assets, including stocks, commodities, cryptocurrencies and indices.
The VIP account requires a minimum deposit of $3,000 and offers leverage up to 1:500 as well as additional features such as personal manager support and exclusive market analysis. Finally, the Islamic account is available for those who wish to trade by Sharia law.
FXTM also offers three main account types: Standard Account, Cent Account and Shares Account. The Standard Account requires a minimum deposit of $100 and offers leverage up to 1:1000 with spreads starting from 0 pips on major currency pairs.
The Cent Account requires a minimum deposit of $10 and allows traders to trade micro lots with spreads starting from 1 pip on major currency pairs. Finally, the Shares Account is designed for those who want to invest in stocks without paying commissions or fees per trade.
FAQs Regarding IQ Option And FXTM
What is IQ Option, And How Does It Work?
IQ Option is an online trading platform where traders can buy and sell various financial instruments. The platform allows traders to open an account, deposit funds, and then use those funds to buy or sell assets based on their market predictions.
What Is The Minimum Amount To Invest In IQ Option?
The minimum trade size for most assets is $1, but it can vary depending on the asset. For standard accounts, the minimum deposit amount is $10 or the equivalent in your account currency.
What are the minimum deposit and trade sizes on IQ Option?
The minimum deposit amount on IQ Option is $10 or the equivalent in your account currency. The minimum trade size is usually $1, but it can vary depending on the asset.
Is FXTM regulated?
Yes, FXTM is regulated by several financial authorities, including the Financial Conduct Authority (FCA) in the UK and the Cyprus Securities and Exchange Commission (CySEC).
What Is The Minimum Deposit On the IQ Option?
The minimum deposit amount on IQ Option is $10 or the equivalent in your account currency. The minimum trade size is usually $1, but it can vary depending on the asset.
Conclusion
Both IQ Option and FXTM have their unique features and advantages. Choosing between IQ Option and FXTM depends on your trading goals, preferences, and level of expertise. It's essential to do your research and compare the features of each platform before making a decision.
This IQ Option vs FXTM blog gives a comprehensive comparison based on various aspects like Fees, Security, and Liquidity and gives you an overall knowledge of the trading platform.
Michael Restiano
I support product content strategy for Salt Money. Additionally, I’m helping develop content strategy and processes to deliver quality work for our readers.