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 provide 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 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, a Micro and a Standard account, both with minimum deposits of $5 and the XM Zero account, with a minimum deposit of $100. 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.
  • 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.

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 (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 ?

Both brokers offer very small minimum deposit for real account trading and enable this 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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