IQ Option vs Admiral Markets. The comparison
IQ Option is a financial instruments broker based on a newly created company and with certain positive points, but also with certain notable shortcomings due to its lack of experience in a highly diversified and competitive market. On the other hand, their offers have a good level and the quality of the service is positive.
Also there is Admiral markets, which is a pretty famous broker, and their reputation is kinda wet, since there are a lot of messages about scam and the things which always follow it.
In this comparison, the information available allows you to know in depth about these companies as a broker and assess whether they are a good, as well as knowing their security and reliability against fraud.
What is IQ Option? History of the company
It was founded in 2013 by the Cyprus-based company IQ Options Europe Ltd. As a Cypriot investment firm (CIF), it is under the jurisdiction of this country and it is from where it operates to serve countries such as Australia, Belgium, Canada, Germany, Spain or the United States.
Since its creation, the broker has served the registration of more than 48 million users, with transactions worth more than 1.3 million per day.
Is IQ Option really a legitimate and safe broker?
In general, IQ Option is legitimized as a level 1 platform, supervised by the Cyprus CySEC Commission, which is not at the level of countries such as the UK or Australia. However, it offers its services to different countries of the European Union so that its citizens find themselves with additional protections that national members of third countries would not have with this broker.
The broker communicates its information in a fairly specific way and also includes different warning tables of the intrinsic risks of investing in instruments and assets. However, it does not offer the notification service on the performance of the trader’s operations, unless he is operating on the platform, which can increase risks. This perception of risk is transferred, due to the type of message, to the entity as well, not only to the instruments.
The broker as such is considered for its acceptable performance, but in some respects its innovation could be second to the current competition. The Trading platform recognized it as the best broker from 2017 to 2019 and to date there is no data on the renewal of this title.
Pros and cons of IQ Option:
Like other brokers, it has clear advantages and disadvantages that can tip the balance when choosing it as a broker to invest in. We break them down below:
- Investor protection compensation of up to 20,000 euros for EEA member states;
- Demo accounts;
- Only $ 10 initial deposit;
- 24/7 customer service.
- Some countries are not allowed to use this broker.
The assets offered by IQ Options
- Fx: the broker offers a little more than 50 currency pairs through the platform, and indicates that new pairs are added over time between major, minor and exotic currencies and interesting pairs.
- Stock CFDs: up to 169 types of CFDs on global multinational stocks
- Raw materials: 5 basic goods available
- ETFs (Stock Exchange Traded Funds) – Over 25 Available
- Stock indices
- Special mention is the possibility of trading with leverage through IQ Option. In this case, there are divergences between nationals of EEA member states, where the maximum leverage allowed is 1: 3, while for non-EEA member states, it is 1: 5. VIP clients, in this type of account, have no leverage restrictions.
The IQ Option platforms
The interface of IQ Option’s proprietary desktop platform represents one of its best values given its ease of use. Chart views stand out, although for novice traders they may not be as actionable.
The platform allows calibration of operations from mobile applications as well as through the desktop interface. It is one of the hallmarks of this broker and one of the things that distinguishes it from its competitors. As a negative point, it must be said that Meta Trader is not offered, one of the platforms with the most reach at the level of investment and online trading, nor other platforms.
IQ Option has a version for Android and iOS for free. One point that can cause inconvenience is that it is updated often, sometimes causing some problems and crashes according to user reviews
The company responds to all user reviews on its applications
The types of accounts available
In general, IQ Option offers three different types of accounts, each with its own specific characteristics and strengths and weaknesses.
- Demo Account – This free practice account is identical in every way to a real account, including the market movements that take place within it. But instead of real funds, it is limited to 1000USD in virtual funds so you can test the platform before opening and funding a real account. It is a limited balance, but it can be restored in some cases. Registration is fast. The added value of the demo account is not clear, as it is like the real one.
- Personal account: a real money account is opened with a minimum deposit of 10USD and allows access to all classes of assets offered by this broker (as allowed by your country of citizenship and the amount per operation that each asset requires). You can keep your demo account open for more practice even when you start using your personal account. Once you open a real account, you will have access to online live chat support and can start participating in markets.
- VIP account: it is automatically opened with a deposit of 3000USD or more. This allows access to a dedicated account manager. It has no registration fees but increases 3% for benefitable operations deposited in account and higher leverage.
IQ Option educational resources
Some assets offered by the broker, such as CFDs, have a high risk linked to their operations. It is there where having a good knowledge, as well as access to updated, outstanding news, economic market developments and analysis is basic and fundamental.
IQ Option provides training tools, as is almost mandatory among online trading operators and brokers, but in this case there is division of perception, especially since it does not do so in all cases. On the one hand, the application is robust and links to calendars, news and indicator analysis tools, but on the other hand, the training materials leave much to be desired due to the lack of clarity of their texts.
The videos are presented without transcription, which prevents full access, and on the other hand, the materials are presented without guide or order, which represents a challenge especially for novices, but also for expert traders. Anyone who needs training will need to find a life with external resources additional to those offered by this merchant.
What is Admiral Markets
Admiral Markets, which is now known as “Admirals” after the company’s brand change in 2021, is one of the best-known brokers in Spain and internationally, it belongs to the Admiral Markets Group AS group of companies. It has been providing its services since 2001 and has a representative office in Madrid and attends the vast majority of events that take place on Fx.
It is a European broker that has regulation in Cyprus (CySEC), United Kingdom (FCA), Estonia (EFSA), Australia (ASIC) and they have recently also acquired the regulation of Jordan (JSC).
It stands out for being one of the brokers that offers the most webinars and training to its clients. It does all this thanks to the large outlay they make on marketing and advertising, which allows them to be present at all events and meetings on trading.
Admiral Markets Group is the group that compiles the four investment firms into which the broker is divided. It has several regulated companies in different parts of the world:
- Admiral Markets UK Ltd – UK regulation (FCA) with license no. 595450.
- Admiral Markets Cyprus Ltd – Cyprus regulation (CySEC) with license no. 310328.
- Admiral Markets Pty Ltd – Australian regulation (ASIC) with license no. 410681.
- Admiral Markets AS – Estonian regulation (EFSA) with license no. 4.1-1 / 46.
- Admiral Markets AS Jordan Ltd – Jordan Regulation (JSC) with license no. 57026.
It should be noted that, although European clients should be under European regulation (according to MiFID II, ESMA), if a Spanish client decides to enter under ASIC regulation, they will be served by the commercial team from outside Spain.
It has several types of platforms: MT4, MT5, MetaTrader Supreme Edition and the WebTrader. The good thing about this variety of platforms is that it allows the investor to work with the one they feel most comfortable with and, above all, it allows inexperienced investors to enter the world of Financial Markets in a simple and intuitive way, working with the platform. that makes you feel more comfortable.
For those who want to trade directly online without downloading any program, there is a web version of the platform with which you can invest from any device.
This diversity of platforms also allows investors who work with Robots or Expert Advisors to have their place in this broker, since their systems are fully compatible with them.
Admirals has passive customer support, only if you are a Premium customer will you have one of their experts on the phone.
The good thing about this broker is that it has a representative office in Madrid, so it is available to all investors who want to approach it and it is, without a doubt, one of the most outstanding commercial teams in the sector in Spain. As for online support, it offers a wide variety of languages and also remote support assistance, by which they access your computer directly to help you.
To measure this parameter, we focus on the company behind the broker and the experiences that we know. Therefore, we can say that it is a company with a great international presence and with many years of good service.
However, it should be noted that with all this, our Mr. Comparator has been able to find negative points to the company, and that is that, within the four regulations that it has, there are clients who can choose to go outside the European regulations, which is which is not well seen by European regulators.
It is undoubtedly one of the most solvent brokers in the sector, with which we have never encountered any case of problems with client funds.
Most of Admiral Markets services are free, being one of the brokers with the most competitive spreads (thanks to its Execution Type). It has a zero fee or without commissions in the following points:
- Spread type: Variable spreads – 0.6 pips EUR / USD.
- Entry and exit fees: yes on CFDs on stocks and on ETFs.
- Inactivity fee: € 10 per month after 24 months without logging in.
- Swaps (overnight interest): yes, although you can access the Islamic account type, without swaps.
- Currency conversion fees: 1% of benefits / losses in operations with instruments denominated in a different currency than your trading account.
- Guaranteed stop loss: yes.
- Deposit fees: None, except at Skrill and Neteller.
- Commissions for withdrawals: They exist in Skrill, Neteller and by bank transfer (if you make more than 2 withdrawals in a month).
Admirals gives you the opportunity to trade the world’s most traded CFDs using a variety of instruments such as stocks, currencies, indices, bonds, ETFs and commodities.
Apart from its wide range of CFDs, Admirals offers very good conditions on cash stocks.
The conclusion: Admiral Markets
After all the research of Mr. Comparator, Admiral Markets is a reliable broker but it depends for what type of clients, since, as we have said, we recommend it for small clients, in no case for clients with large accounts.
Of course, it is a reliable broker in the rest of the cases, especially due to the great presence it has and the large number of clients it has among its ranks. We don’t understand then why they have to lie about your type of execution, we don’t think you need it.
CFDs are complex instruments and have a high risk of losing money quickly due to leverage. 76% of retail investors lose money when trading CFDs on this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The conclusion: IQ Option
IQ Option is a broker with 7 years of experience, however, this time that should be enough for its problematic aspects to be solved or improved, plays against it when the services it offers so far are put in balance. The quality of educational resources, the Islamic account, the focus on certain instruments or the variety of accounts or platforms, where Meta Trader 4 is missed, are, among others, aspects that being vital for a trader draw attention for its inconsistency.
Based on the information shown in this comprehensive review, we can guarantee that this broker is a good bet for traders, therefore we do recommend it as a good to start trading.