| Online Broker | Minimum Deposit | Trading Platforms | Markets | About |
|---|---|---|---|---|
| IQ Option | $10 Minimum Deposit | Web Trader & Apps Trading Platforms | 300+ Markets To Trade | IQ Option provides a user friendly platform, a wide range of CFD markets to trade and has a $1 minimum order size About |
| XM | $5 Minimum Deposit | MT4, MT5 Trading Platforms | 1000+ Markets To Trade | XM offers MT4 and MT5, allowing automated trading with EA robots and has a Cent account with a $5 minimum deposit About |
IQ Option vs XM Comparison
Both of these brokers offer low minimum deposits to trade on a live account, $10 for IQ Option and $5 for XM. XM's accounts include its XM Zero account which can provide low Forex spreads plus a commission charge.
In terms of trading platforms, IQ Option provides its web trader, a downloaded version of this platform and apps. XM is an MT4 broker and additionally offers MT5. These platforms are available as web trader, a downloaded platform and apps. So these brokers are to some extent a clear web trader vs MT4/MT5 functionality comparison. With MT4 and MT5 the trader can trade automated trading strategies and with the XM Zero account, can trade with spreads from 0, plus a commission charge.
On MT5, XM has more markets than IQ Option, i.e. 1000+ vs 300+ (this is a relatively large number for an MT5 broker and and can mostly be accounted for the fact that XM offers more Stocks CFDs than IQ Option). Both have a relatively wide range of markets available, though IQ Option has a wider selection.
Quick comparison
IQ Option offers a web trader/downloaded platform/apps, while XM is an MT4/MT5 broker, supporting the use of EAs and has more markets (on MT5), though IQ Option has a wider range.
Minimum trade size
Both these brokers allow for very small trade sizes. IQ Option sets its smallest trade size via an order value, namely $1. XM offers its Micro account which is a cent type account, allowing for trade sizes of 0.0001 lots on MT4.
Minimum deposit and account types
The minimum deposit for IQ Option is $10. The minimum deposit for XM is $5.
- IQ Option has Market Analysis, News, a Forex Calendar, an Earnings Calendar and a Crypto Calendar on its trading platform. The minimum order size is $1.
- XM CySEC regulated offers three account types, the Micro, Standard and XM Zero accounts, all with minimum deposits of $5. An Islamic account is available for each account type. The Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions. The Micro and Standard accounts differ in terms of order sizes available. The minimum trade size is 0.0001 lots.
- XM ASIC regulated offers the XM Ultra Low account instead of the XM Zero account. XM IFSC regulated offers the Micro, Standard and Ultra Low accounts and a Shares account (with real Shares to own). The minimum deposit for the Ultra Low account is $50. The minimum deposit for the Shares account is $10,000.
- XM offers an economic calendar, a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, trading tools, market outlook and webinars. XM allows EAs, hedging and scalping.
Markets
- IQ Option offers Forex, Indices, Energy, Cryptocurrencies, Soft Commodities, Metals, Stocks, ETFs and Options, with 300+ available.
- XM offers Forex, Indices, Energy, Cryptocurrencies, Soft Commodities, Metals and Stocks, with 1000+ available on MT5.
IQ Option provides 40+ Forex pairs. XM provides 60+ Forex pairs.
| Broker | Trading Platforms | Description |
|---|---|---|
| XM Broker | MT4, MT5 Trading Platforms | XM provides both MT4 and MT5, allowing automated trading with EA robots and has a Cent account with a $5 minimum deposit Description |
| IQ Option Broker | Web Trader & Apps Trading Platforms | IQ Option offers a user friendly platform for trading a wide range of CFD markets, with a low minimum order size of $1 or 0.001 lots Description |
Cryptocurrency CFDs
- IQ Option offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Stellar, OmiseGO, EOS, Qtum, Ethereum Classic, Dash, TRON and Zcash CFDs.
- XM offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, Stellar, OmiseGO, Aave, Cardano, Algorand, Avalanche, Axie Infinity, Basic Attention Token, Compound, Enjin, Fetch.ai, The Graph, Chainlink, SKALE, Solana, Storj, Sushi and Ox.
Leverage
Maximum leverage for IQ Option (CySEC regulated) is . Maximum leverage for XM (CySEC regulated) is .
Trading Platforms
IQ Option provides a web trader, a downloaded version and apps. XM provides MT4 and MT5 as a download, as web traders and apps.
Why IQ Option or XM ?
Traders who want to trade on MT4 or MT5 may do so at XM, thus allowing the trader to apply automated trading strategies using EA robots. Traders who want to trade on a user friendly platform may dp so at IQ Option. Traders who want to trade with a low minimum deposit may do so at either as XM has a minimum deposit of $5 and IQ Option has a minimum deposit of $10. Traders who want to trade with low order sizes can do so at either, as both offer trade sizes
Comparison summary
- These are both CFD brokers
- IQ Option offers a web trader with a downloaded version and apps
- XM provides MT4 and MT5
- Both have a relatively wide range of markets
- XM allows automated trading Expert Advisors (EAs) on MT4 and MT5
