IQ Option vs XM - CFD Broker Comparison

IQ Option vs XM | Online Brokerage Comparison

IQ Option vs XM Comparison Table
Online BrokerMinimum DepositTrading PlatformsMarkets
$10Web Trader, Downloaded Platform, Apps 300+
$5MT4, MT51000+

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 offer low Forex spreads plus a commission charge, which has a higher minimum deposit of $100.

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 access STP/ECN trading (though for all account types, XM is an STP broker and does not intervene in the order process).

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 0.001 lots.

Minimum deposit and account types

The minimum deposit for IQ Option is $10. The minimum deposit for XM is $5.

  • IQ Option has analysis on its trading platform.
  • XM offers three account types, a Micro and a Standard account, both with minimum deposits of $5 and the XM Zero account, with a minimum deposit of $100.
  • XM's Micro account allows smaller trade sizes than Standard account and XM Zero accounts, which allow larger trade sizes. An Islamic account is available for each of these account types. The Micro and Standard accounts do not charge commissions, the XM Zero account does charge commissions, of $3.5 per lot per side. XM offers a free VPS for clients who have a minimum balance of $5000 in their account, T&Cs apply. The smallest trade size is 0.001 lots. XM also provides a personal account manager, video tutorials, daily technical analysis, Forex market research and daily Forex signals, market outlook and webinars.

Markets

  • IQ Option offers CFD trading in 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. There are 100+ available on MT4, as it does not offer Stocks or Cryptocurrency CFDs. The XM Zero account has Forex, Gold and Silver, with 55+

IQ Option provides 85+ Forex pairs. XM provides 60+ Forex pairs.

Cryptocurrency CFDs

  • IQ Option offers Bitcoin, Ethereum, Litecoin, Ripple, Bitcoin Cash, EOS, Qtum, Ethereum Classic, OmiseGo, Dash, TRON and Zcash CFDs.
  • XM offers Bitcoin, Ethereum, Litecoin, Ripple and Bitcoin Cash.

Leverage

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

Trading Platforms

IQ Option provides a web trader, a downloaded version and apps. XM provides MT4 and MT5.

Why IQ Option or XM ?

Both brokers offer very small minimum deposit for real account trading and enable this up by allowing very small trade sizes (i.e. small trade sizes are necessary to trade with a small account value). The trader can trade with larger trade sizes and account sizes if they wish, as well. So they are accessible. XM has more markets to trade, on MT5, however both brokers offer a relatively wide range of markets to trade. XM supports the use of Expert Advisors and offers its XM Zero account, which has a higher minimum deposit.

Comparison summary

  • These are both CFD brokers
  • IQ Option offers a web trader with a downloaded version and apps
  • XM provides MT4 and MT5, available as web traders, downloaded and apps
  • XM has more CFDs to trade on MT5
  • Both have a relatively wide range of markets
  • XM allows Expert Advisors (EAs) on MT4 and MT5

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