FXOpen vs IQ Option - Online Brokerage Comparison

FXOpen vs IQ Option | Trading Brokers Comparison

FXOpen vs IQ Option Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarkets
$300MT465+
$10Web Trader, Downloaded Platform, Apps300+

FXOpen vs IQ Option Comparison

FXOpen is an ECN MT4 broker using Equinix infrastructure to help provide rapid order processing, an environment which can be suited to traders who trade with automated trading strategies. IQ Option offers a human trader friendly platform, with more markets and a wider range. IQ Option also has both a considerably smaller minimum trade size and allows a minimum position size of $1, thus potentially letting traders trade with smaller account sizes.

Quick comparison

FXOpen is an ECN MT4 broker, while IQ Option offers its trading platform and has a lower minimum deposit.

Minimum deposit and key account features

The minimum deposit for FXOpen is $300. The minimum deposit for IQ Option is $10.

  • FXOpen offers three accounts types, ECN, STP and Crypto. The ECN account charges commissions on its markets, the STP does not charge commissions. The ECN account has a wider range of market available. The Crypto account is an STP account which additionally offers a range of Cryptocurrencies (which have a commission charge). The minimum trade size is 0.01 lots. Market news and analysis are available via RSS and an economic calendar is provided on FXOpen's website.
  • IQ Option has Analysis on its trading platform. The minimum order size is $1.

Markets

  • On the ECN account, FXOpen offers Forex, Indices, Energy and Precious Metals, with 65+ available.
  • On the STP account, FXOpen provides Forex and Precious Metals, for a total of 50+.
  • On the Crypto account, FXOpen offers Forex, Precious Metals and Cryptocurrencies, for a total of 55+.
  • IQ Option offers Forex, Indices, Energy, Cryptocurrencies, Metals, Stocks, Soft Commodities, ETFs and Options, with 300+ available.

Cryptocurrency CFDs

  • FXOpen offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, DASH, EOS, Ethereum Classic, Monero, NEO, IOTA, Namecoin, Peercoin, Emercoin and OMNI.
  • IQ Option offers Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Ripple, DASH, EOS, Ethereum Classic, QTUM, Zcash, TRON and OmiseGO.

Leverage

Maximum leverage for FXOpen (FCA regulated) is . Maximum leverage for IQ Option (CySEC regulated) is .

Online trading platforms

FXOpen offers MT4, while IQ Option provides its web trader and a downloaded version of this platform.

Why FXOpen or IQ Option ?

For human traders, either broker has offerings of interest. IQ Option provides a trading platform which has features and a layout designed for human traders who make their own trading decisions. MT4, while it is known as a platform for trading robots, also has extensive support for human traders who make their own trading decisions. As an ECN broker, FXOpen offers a trading environment potentially conducive to human traders who may wish to apply a wide range of strategies, however this feature is of particular interest to traders who wish to trade with automated trading strategies, a facility offered by FXOpen through MT4. IQ Option has a larger number of markets to trade and a wider range.

Comparison summary

  • Both offer CFD trading
  • FXOpen is an MT4 ECN broker
  • IQ Option provides a human trader friendly trading platform
  • FXOpen uses Equinix infrastructure to help provide rapid order processing
  • IQ Option can provide more markets to trade and a wider range
  • FXOpen lets the trader use trading robots
  • IQ Option has a lower minimum deposit

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