In this assessment, we will examine the merits of IQ Option and Expert Option. We'll carefully evaluate both platforms, weighing their respective advantages and disadvantages. Ultimately, IQ Option emerges as the superior choice. IQ Option offers a broader range of financial assets for trading, including CFDs, digital options, and binary options, in addition to its accolade-winning trading platform. On the flip side, Expert Option excels in swift execution times and provides a more enhanced mobile trading experience
| IQ Option | Expert Option |
|---|---|
IQ Option is a trading platform offering a wide range of investment options through CFDs , derivatives like binary and digital options. Full Review |
Expert Option offers binary options trading of Cryptocurrencies, commodities, Forex, indices, and stocks. Their trading service is available to certain regions. Full Review |
| Year founded: | |
| 2013 | 2014 |
| Regulated by: | |
| CySec | St. Vincent and the Grenadines (SVGFSA) |
| Headquarters: | |
| Limassol, Cyprus | Saint Vincent and the Grenadines |
| Is a Bank: | |
| No ❌ | No ❌ |
| Demo Account: | |
| Yes ✔️ | Yes ✔️ |
| Minimum Deposit: | |
| $10 | $10 |
| Minimum Trade: | |
| $1 | Varies |
| Islamic Account: | |
| Yes ✔️ | No ❌ |
| Social/Copy Trading: | |
| No ❌ | Yes ✔️ |
| Spread Betting: | |
| No ❌ | No ❌ |
| Excluded countries: | |
| Albania, Afghanistan, Australia, Belgium, Canada, Iran, Israel, Japan, Latvia, North Korea, Palestine, Portugal, Russia, South Sudan, Syria, USA | USA, Canada, Australia, European Economic Area, Switzerland, Israel, Puerto Rico, New Zealand, North Korea, Singapore, Bangladesh, Indonesia, Yemen, and Russia. |
Variety of Products and Market Coverage
When it comes to the diversity of products and market coverage, IQ Option takes the lead over Expert Option. IQ Option provides access to an extensive selection of over 200 CFDs on financial instruments, whereas Expert Option offers around 100. Additionally, IQ Option offers a more comprehensive range of trading options and extends its reach across a wider array of markets.
| IQ Option | Expert Option |
|---|---|
| Markets Available: | |
| CFD, Binary and Digital
Options Options, Forex, Stocks, Crypto, Commodities, ETF, Indices |
Binary Options, CFD Cryptocurrencies, commodities, Forex, Indices, Stocks |
| CFDs Total | |
| Yes ✔️ 262 |
Yes ✔️ 100+ |
| Forex Pairs | |
| Yes ✔️ 41 |
Yes ✔️ |
| Stocks | |
| Yes ✔️ 181 |
Yes ✔️ |
| Cryptocurrencies | |
| Yes ✔️ 12 |
Yes ✔️ |
| Commodities | |
| Yes ✔️ 4 |
Yes ✔️ |
| ETFs | |
| Yes ✔️ 24 |
No ❌ |
| Options | |
| Yes ✔️ | No ❌ |
| EFPs | |
| No ❌ | No ❌ |
| Mutual Funds | |
| No ❌ | No❌ |
| Robo Portfolios | |
| No ❌ | No ❌ |
Evaluation of Trading Platforms
When comparing Expert Option to IQ Option, both platforms exhibit strengths. Expert Option's mobile app stands out as superior, whereas IQ Option's mobile platform remains suitable for the majority of traders. Both platforms feature proprietary options, accessible through web browsers and mobile apps. Notably, Expert Option provides a desktop platform. While Expert Option excels in this aspect, it's essential to note that it offers a somewhat narrower range of assets compared to IQ Option.
| IQ Option | Expert Option |
|---|---|
| Proprietary Platform: | |
| Yes ✔️ | Yes ✔️ |
| Desktop Platform: | |
| No ❌ | Yes ✔️ |
| Mobile App: | |
| Yes ✔️ iOS, Android |
Yes ✔️ iOS, Android |
| Web Trading Platform: | |
| Yes ✔️ | Yes ✔️ |
| MetaTrader: | |
| No ❌ | Yes ✔️ |
| cTrader: | |
| No ❌ | No ❌ |
| Mirror Trader: | |
| No ❌ | No ❌ |
| Zulu Trade: | |
| No ❌ | No ❌ |
| Dupli Trade: | |
| No ❌ | No ❌ |
Assessing Fees
When it comes to comparing fees, it's important to note that they can be somewhat challenging to directly compare. Variable spreads are contingent on numerous factors and can fluctuate. However, both brokers maintain competitive spread rates. For withdrawals, IQ Option imposes a $31 fee for bank transfers, while credit/debit card withdrawals are fee-free. In contrast, Expert Option does not levy any withdrawal fees. If you frequently utilize bank transfers for withdrawals, Expert Option may be the more cost-effective choice in this regard.
| IQ Option | Expert Option |
|---|---|
| Trading Fees: | |
| Yes ✔️ Spread Varies |
Yes ✔️ Spread Varies |
| Deposit Fees: | |
| No ❌ | No ❌ |
| Withdrawal Fees: | |
| $31 (Bank
Transfer) $0 (Credit Cards, eWallets) |
$0 (Bank Transfer) $0 (Credit Cards, eWallets) |
| Overnight Funding: | |
| Yes ✔️ | Yes ✔️ |
| Inactivity Fee: | |
| Yes ✔️ $10/month |
Yes ✔️ $10/month |
Customer Support
Both brokers excel in providing excellent customer support. They offer a range of communication options, including email, online chat, and phone support, demonstrating their commitment to addressing customer needs promptly. Customer support is a top priority for both brokers.
Expert Option boasts support in 15 languages, while IQ Option offers assistance in 13 languages. Notably, IQ Option maintains an impressive average response time of 43 seconds for chat support and 20 minutes for email inquiries. Rest assured, regardless of your choice, you can expect robust and responsive customer support.
| IQ Option | ExpertOption |
|---|---|
| eMail: | |
| Yes ✔️ | Yes ✔️ |
| Online Chat: | |
| Yes ✔️ | Yes ✔️ |
| Phone Support: | |
| Yes ✔️ | Yes ✔️ |
| Languages: | |
| 13 | 15 |
Account Funding Comparison
When it comes to depositing funds, IQ Option provides a wider range of options compared to ExpertOption. Importantly, neither broker charges deposit fees, and they both have a minimum deposit requirement of $10. If your preferred payment method is not available at IQ Option, you may want to consider opting for Expert Option.
| IQ Option | Expert Option |
|---|---|
| Deposit Methods: | |
| Visa, MasterCard, Maestro, Visa Electron, Neteller, Skrill, WebMoney, PayPal, Bank Transfer, Bitcoin, eWallets | Visa, Mastercard, Maestro, Skrill, Neteller, JCB |
| Deposit Fee: | |
| No ❌ | No ❌ |
| Minimum Deposit: | |
| $10 | $10 |
Assessment of Education Resources
Both brokers offer commendable educational materials. Expert Option stands out by providing a comprehensive range of educational resources, including technical, graphical, and fundamental analysis. Moreover, Expert Option offers valuable insights into trading strategies through webinars and tutorials.
However, IQ Option falls slightly short in this aspect. Considering the educational offerings, Expert Option emerges as the superior choice for those seeking a robust educational experience.
| IQ Option | Expert Option |
|---|---|
| Video Tutorials: | |
| Yes ✔️ | Yes ✔️ |
| Webinars: | |
| Yes ✔️ | Yes ✔️ |
Final Verdict
After a thorough analysis, the verdict is that IQ Option holds the edge over Expert Option. IQ Option offers a more extensive range of tradable assets and competitive spreads. Notably, it is regulated by CySEC, enhancing its safety and reliability.
On the other hand, Expert Option excels in providing a superior mobile trading app and swift trade execution times.
