IQ Option vs eToro. Which should you choose and why?
These are pretty famous platforms for trading all over the world. They are used by a huge number of people every day and their services have been provided for many years, so it would not seem so easy to say which of them is better, but we have considered the general facts and statistics and are now ready to sort out all the information about both platforms for you.
|Year of foundation||2013||2007|
|Regulation||FSA||ASIC, FCA, CySEC, CNMV|
|Type of broker||NDD||NDD, STP|
|Trading instruments||Currency pairs, CFD’s, Binary optiоns, Cryptocurrencies||CFD’s, Cryptocurrencies, Stock Exchange|
|Quality||5 stars||5 stars|
What is IQ option
The IQ Option company was founded relatively not long ago, but right now it is one of the largest platforms for investors and traders with a lot of different tools to use and great service, which is given by the support team and main users. Here the main theme is binary оptions, which is primary reason to use this site instead of others.
Advantages аnd Disadvantages
- IQOption.com broker is licensed by the Cyprus Financial Markets Supervisory Commission (CySEC), which ensures that the client service standards set in the European Union are adhered to.
- Convenient trading platform: the system is developed within the company, which allows it to constantly develop and quickly adapt to anything.
- A limited number of commodity assets: at the moment, the company offers only gold and silver for trading among the commodity assets. Hopefully, the list of available tools will continue to expand.
What is eToro?
These guys offer ample trading opportunities to their clients. eToro is working in these spheres:
- Forex currency pairs.
- Products. Metals, oil and gas. Commodity markets are considered to be more predictable and understandable. Therefore, they represent a convenient environment for speculative transactions.
- Promotions. Equity securities of various companies are a traditional financial instrument. Many of them are characterized by high volatility, which opens up wide opportunities for earning. Proponents of stability can choose to trade with blue chips. These are the shares of the most famous international companies, which are of particular interest from the investor community.
- Cryptocurrencies. Electronic money has already become a common means of payment for many users. They represent a convenient funding tool as the value of cryptocurrencies is constantly increasing.
How they use trade
If we will speak about this theme, we have to give IQ Option the upper hand. They will give you the opportunity to open real accounts from just 10$.
In contrast, eToro requires at least of 200 USD for any of its accounts. Although this is not an exaggerated value, we like the possibility of opening accounts with small deposits before committing more capital.
Another point in favor of IQ Option is its low variable spreads. In this company we were able to negotiate with EUR / USD with spreads from just 0.6 pips in normal market conditions and without paying extra commissions.
In conclusion, due to its versatility and good trading conditions, we decided that the first company is the best choice here.
With the help of such a function, you can easily understand how you should use these sites and how to find the best. Well, the big plus is that people are allowed to test various tactics upon receiving more funds, while not spending their own, but only using those provided by the site for testing.
Both giants have this feature on their official websites. The most precious treasure is that you do not need to spend a single dollar to get access to this function, because it is simply necessary to make you confident in their services.
Guys from IQ give you this possibility for all the time in the world, where you can do whatever your heart desires, since they’ll give about 10 thousand fake dollars in your account.
Laso they will refill it, if you will spend all the money till the last cent, so never be afraid and start it right now.
Well, the competitor was not far behind in the race, so they have the same function that gives you the opportunity to get a huge amount of money that you can invest anywhere, but here this amount is a little more and it will be much more fun.
IQ Оption potential
IQ Оption can give you more ways to make money than its competitor and there are many options that you cannot find at eToro’s disposal. Undoubtedly, this is a huge plus for this platform, because the more opportunities you have, the more money in the future.
IQ Option also offers you ample opportunities for trading real stocks on the stock exchange, which also very much tilts the scales in their favor.
In this regard, they cooperate with a huge number of the most popular companies around the world.
Well, how are we without cryptocurrencies? They help their clients invest in both the largest and most popular coins, as well as the rarest ones, which can skyrocket in price. This is just great for all people who believe in cryptocurrencies and want to climb steeply on them, and it also gives them a significant advantage over many other companies.
eToro trading potential
If we will speak about pretty popular themes, then, of course, eTоro wins. Their list of available cryptocurrencies is so huge that one could spend several days studying all the information, because they work even on such little-known cryptocurrencies that you most likely have never heard of.
Also, one cannot help but admire the number of exchanges with which they cooperate to use a wide variety of different markets from any point on the earth. They are working with the largest European stock exchanges, for example with the increasingly popular London Stock Exchange.
Also there is an interesting fact about eToro’s CFD system, which says that you can take information from platforms, which are not so easy to get to. EToro’s competitor is not able boast of such an arsenal or a special function like this one, because its advantages are completely different things and here on the market, in principle, few can compare with them.
Also, eToro got very confused with the investment copying system and many other interesting details that make the platform quite unique and easy to use. This can also be considered a plus compared to IQ Option, but still it is not really an advantage, because sometimes these features do not show you the desired result.
eToro vs IQ Option: possibility to use
According to the standard, these guys have both an official website on which all the functions of their company are available, and a client that can be installed on any smartphone as you like.
Several years ago, their own personal computer client also existed. Later they abandoned this idea and other companies are doing their job better in this regard, because they still have it.
But one way or another, they should be praised in terms of developing a client for mobile devices, since it works quickly and efficiently so that you do not have to wait ten minutes for each action.
IQ Option, on the other hand, boasts that they have access to all absolutely popular platforms, just like any personal computer. Well, they also did not bypass mobile devices.
Their application is very comfortable to use and it is not overloaded with unnecessary things like ads or banners. It is also very convenient to search for the function you need, so that any beginner can figure it out.
eToro vws IQ Option: support
Both platforms are very responsible in this matter and provide their customers with support every day and hour, so you can contact them by writing a letter to them by mail or by writing separately using a special function in the client or on the website.
You can choose the language that is convenient for you, since people from all over the world work on both sites and they will answer you in your own language, if the site supports it.
Mostly they take a few days to answer, but IQ is working pretty hard to do everything fast, so it is a plus.
But according to statistics, eToro spends a little more time than its competitor on dealing with different questions, and sometimes you can even wait several days for an answer.
|[email protected]||[email protected]|
|Phone number||UK (+44 20 8068 0760)||+44 20 3805 4822|
How can you work with your money?
In fact, it is very important to point out that while eToro takes a small commission from people for each transfer, their opponents abandoned such an idea and now it is considered a more pleasant condition for any client, because none of us wants to overpay to no one knows who, right?
It is also important to mention that it is best for you to have several open payment systems, so that later you do not waste time on creation, because the process of receiving your coins is quite unusual in any case.
It is very important to mention that the platforms have a special system that will not allow you to withdraw all the money in the same place from where you deposited it. The fact is that you can return there only the same amount that was originally withdrawn.
Also, do not forget that money will come to electronic systems and wallets much faster than to accounts or a bank card, because such a request will be processed for at least a couple of days.
After we have analyzed the information, we can say that everywhere and always things have had their carrots and sticks, so it is impossible to judge something one hundred percent.
eToro helps more those guys who decide to chew on the granite of this science and become more knowledgeable in all the basic processes.
IQ Option provides you with more ease of use, and if you are a very experienced PC user, then you are in the right place.
Also we can say about the best plus of this company is that every person will be able to trade and invest by making a deposit of only 10 US dollars, which is very, very little and is suitable for beginners or those who do not have much money, but who really want to participate in these processes.
This way, you don’t have to deposit as much as $ 200 just to get started, and that’s great.
These are the conclusions we made while looking at both industry giants. In fact, everyone invests where it is more convenient for him and therefore the choice is entirely yours, but we can definitely say that we liked the conditions of IQ Option more because you can start using it by paying no more than people spend on gasoline for a couple days.
Which company should I start with if I don’t have a lot of money?
With IQ Option, since they have the cheapest first deposit and you can immediately access all the possibilities for only $ 10.
I want to invest in cryptocurrency, which platform should I choose?
In this case, both platforms are fine for you, but eToro has the advantage in this matter. But nevertheless, even there are not some of the cryptocurrencies that IQ Option has.
What is the minimum amount of money that can be withdrawn from the IQ Option platform?
Only $ 2, so you can withdraw them, even if by some miracle you go into the negative of the deposit.