IQ Option and FxPro are two well-known trading platforms all over the world. But which one is the best? We decided to use our time and capital to find the answer. Find below a point-to-point showdown between these brokers.
Because many even experienced traders often come across unsuitable and dangerous brokers for their capital, it is very important to weigh the pros and cons, because each platform is very different from the second and we will help you choose the best option not only for yourself, but also for all traders and investors.
Year of foundation
CySEC, FSCA, SCB, FCA
MT4, MT5, cTrader, FxPro Edge
|Instruments||Binary options, digital options, CFDs on Forex, stocks, cryptocurrencies, commodities and ETFs.|
Forex, stock indices, stocks, metals, cryptocurrencies, energy market and futures.
Average spread for EUR / USD
Do they have Binary Options?
What is the IQ Option?
IQ Option is a widely known trading platform in every corner of the earth that offers binary and digital options, as well as other products such as Forex trading and CFDs on stocks, ETFs and commodities.
The company was founded in 2013 and has around 50 million users worldwide. IQ Option processes more than 1 million transactions per day and has won various accolades in the industry, such as the Award of Excellence in The Communicator 2017.
Among the main attractions of IQ Option are its offer of binary options, low deposit and payment methods compatible with the most famous platforms, which traders are using every day for their needs.
What is the FxPro?
FxPro is a London-based company that specializes in contracts for difference (CFDs). In this broker you can trade with a wide range of instruments, ranging from Forex and stocks, to digital currencies and futures. Unfortunately, there are no binary options.
Since its founding in 2006, FxPro has earned several accolades in the online trading industry, including Best Fx Provider at the 2020 Online Personal Wealth Awards.
Among the advantages of FxPro are its multiple trading platforms and the possibility of trading indices, futures and commodities.
Over the past 3 years alone, the presented company has won five prestigious awards and more than ten prizes from less significant contests, confirming that it is the best Forex broker in this field of activity (one of the arguments testifying to the reliability of a participant in the global financial market for potential users).
The investments of the broker’s clients are not only insured, but also kept in the accounts of such serious financial and credit institutions as:
- Barclays PLC;
- Bank of America (any student of an economic university will confirm that traders’ savings are in good hands).
You also need to remember that the broker is a sponsor of English football clubs and a partner of the legendary McLaren F1 team.
Trading accounts – IQ Option vs FxPro
When it comes to trading accounts, we have to give IQ Option the upper hand. This broker allows you to open real accounts from just 10 USD.
In contrast, FxPro requires a minimum deposit of 100 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.
One of the FxPro accounts also offers tight variable spreads. However, you must pay a commission of 45 USD for every million dollars traded (buy and sell).
In conclusion, due to its versatility and good trading conditions, we decided that IQ Option wins the showdown in the trading accounts section.
IQ Option vs FxPro: trading platforms
MQL4, MQL5, C#, N/A
Both IQ Option and FxPro have positive points in the platforms section. Therefore, the choice of software will depend on your personal circumstances and preferences.
If you are a trading beginner, we cannot recommend the IQ Option platform highly enough. This software is easy to use and has many useful aids, such as an intuitive interface, guides, market sentiment plugins, and more. Ultimately, it is the software you should use if you are just learning.
On the other hand, if you have trading knowledge and are looking for specialized tools, the Fx Pro platforms may be for you. If you want to use expert advisors or trading signals, choose MT4. If you are looking for more time frames and indicators, opt for MT5. And if you need a good depth of market tool, the best option is cTrader.
FxPro also has FxPro Edge, a proprietary trading platform with a friendly interface, intuitive options and a wide range of technical indicators. However, we do not believe that this software offers anything that sets it apart from other options, such as IQ Option or MT4.
Instrument Comparison – IQ Option vs FxPro
If you are looking for binary or digital options, the choice is simple: IQ Option. This broker is one of the few in the world that offers this kind of instrument, which gives it an important advantage over other brokerage companies.
On IQ Option you can trade options on currency pairs, stocks, and some exchange-traded funds. The yields usually go from 50% for periods of more than 1 hour, up to 90% for some minutes.
On the other hand, if you want to trade indices, futures or commodities, it is better that you register with FxPro. This broker has an extensive offer of indices from Europe, Asia and the United States, as well as futures on multiple assets such as cocoa, coffee, corn and natural gas.
As for Forex, you can find a similar variety in both companies. Both IQ Option and Fx Pro offer the major currency pairs, as well as minor and exotic crosses. It should be mentioned that the coin offering is slightly more varied on IQ Option.
And if you are looking for cryptocurrencies, our recommendation again is IQ Option. This broker has a long list of digital currencies that not only includes the best known (such as Bitcoin and Ethereum), but also altcoins such as:
IQ Option vs FxPro – Who offers better payment methods for most of the countries?
|Credit cards, PSE, Efecty, SuRed, Puntored, Supergiros, Baloto, Bitcoin, Skrill, NETELLER, Perfect Money, WebMoney|
International bank transfer, debit and credit cards, Skrill, NETELLER
Minimum process time (recharge)
Minimum processing time (withdrawal)
1 business day
At this point we are not in the least bit confused. IQ Option has made an effort to attract the European and United States public, which is why it offers multiple forms of payment that we can easily use everywhere.
To deposit funds on IQ Option you have several options. If you wish, you can use your credit card, bank account (through PSE) and even cash consignments at Baloto, Efecty, Éxito and other gateways.
In addition, you can make deposits from as little as 10 USD that are loaded instantly and without any commission.
In contrast, if you want to open a real account at FxPro, you will need at least 100 USD. Also, you will most likely need to use a credit card, as there are no local forms of payment for so a lot of countries.
Another advantage of IQ Option is that it accepts direct deposits using Bitcoin. That means, if you have a Bitcoins wallet, you can send them directly to the broker and start trading right away. That’s an option that very few companies offer.
We can tell you from our own experience that managing payments on IQ Option is easy and fast.
Without a doubt, IQ Option offers the best forms of payment for Colombia, with a minimum deposit of just 10 USD
Who offers the best support for frequent questions and problems? IQ Option vs FxPro
|01800 519 0167|
800 600 091
We confirm that the quality of service at both brokers is great. When we contacted support at IQ Option and FxPro via live chat, we were served in an instant, courteously and effectively.
However, we must emphasize that IQ Option has an option that many other companies do not have: a free line for Colombia. If you wish, you can contact the broker and resolve your concerns and doubts with an advisor. Personally, we prefer live chat, although it is a welcome option.
Response times are comparable for both companies. For example, in live chat we usually have to wait a few moments to be attended by an advisor, while a response by email does not usually take more than 6 hours.
Support availability is absolute on both IQ Option and Fx Pro. Both companies provide 24-hour support, including weekends and holidays.
Whether you sign up for IQ Option or FxPro, you will receive top-notch attention. Both companies have good support departments.
IQ Option vs FxPro: Verdict
Due to its low initial deposit, multiple payment methods and easy-to-use platform, we consider IQ Option to be the best broker for the Colombian trader.
IQ Option is especially favorable if you are looking for binary or digital options. This broker is one of the few in the country with this instrument, which puts it ahead of other competitors.
Similarly, IQ Option can be a good option if you are just starting out in trading. Due to its simple software and detailed guides, getting started will be easy.
However, there are specific situations where you should prefer Fx Pro. For example, if you want to trade indices, futures or commodities, or are looking for a specific trading platform like MT4, MT5 or cTrader, this company is the best alternative.
In conclusion, we can tell you in a general way that IQ Option seemed to us a broker more complete and adapted to the primary market than FxPro. We suggest you open a free trial account and find out if this company suits what you are looking for.
Frequently asked questions
Which is the best? IQ Option or FxPro?
We believe that IQ Option has more positive points than FxPro, as it requires a lower minimum deposit, offers binary options, and has multiple payment methods available everywhere.
Does Fx Pro offer binary options?
No. FxPro offers CFDs on different instruments, such as currency pairs, stocks, stock indices and commodities. However, it does not have binary options of any kind.
Does IQ Option offer binary options?
Yes. In fact, IQ Option is one of the few companies in most of the countries that has binary options. In addition, this broker has digital options, which allow you to set profit levels and obtain better returns than with binary ones. You can trade options on Forex, stocks and exchange-traded funds.
What is the minimum deposit on IQ Option and FxPro?
At IQ Option you can open an account from 10 USD. On the other hand, in Fx Pro you will need at least 100 USD to open a real account.