To become a successful trader, you need to choose a broker carefully and take it seriously. To find a reliable broker, it is necessary to analyze some key features of the platform. Each broker seeks to attract new traders.
But a decent broker cares about its clients by creating the most favorable and comfortable conditions for trading, providing simple and convenient rules, constantly expanding the standard list of instruments. In this article, we will review two well-known brokers – FBS and IQ Option.
This comparison will make it easier for you to make your choice.
FBS is a Forex and CFD broker that provides its services worldwide. The company was founded in 2009 and since then the brand has progressed in size, capacity, and technology. FBS offers currency pairs, CFDs, stocks and metals. The site content is translated into 18 languages, confirming its popularity among beginners and experts around the world. FBS Forex serves clients in Asia, Latin America, Europe, the Middle East and North Africa. The main focus is on offering financial products for trading currencies, metals and indices for clients with different purposes and means.
Main features of FBS
- the minimum starting deposit is $ 1
- trading accounts are in euro and dollar
- the minimum volume of a trade order is 0.01
- two types of spread – floating and fixed
- order execution technology – ECN and STP
- automated trading is allowed
The IQ Option broker began its activity in 2011. It has attracted 46 million traders from more than 240 different countries. One of the main benefits of the broker is the high profitability of assets, the profitability can reach 95%. High-quality work of technical support and ease of use of the trading platform also became the reasons that in 2013 this company was recognized as the most innovative binary options broker.
The key features of IQ Option
- accounts from $ 10
- options from $ 1
- free demo account for everyone
- weekend and standard turbo options are available
- high-interest rates (even more than 90% on popular currency pairs)
- regulated period of profit withdrawal
- own trading platform
You will need to take only a few steps to become a member of the forex broker FBS platform. At first, you will be offered to fill in a short form. After it, you will receive a letter to the email address with the link to confirm your email. It will give you access to the personal account, where you need to fill out an extended questionnaire and download a passport scan.
You can register in the IQ Option system in two ways: quick registration or authorization through social networks (Facebook, Google Plus, Vkontakte, Mail.ru). After selecting the first method, you need to enter your name, phone number, e-mail address, come up with a password, and then start your trading career on the platform.
To ensure smooth and efficient trading, the FBS broker provides clients with reliable forex trading platforms – MetaTrader4 and MetaTrader5. FBS MT4 is often referred to as the best platform model for online trading. It is quite easy to use and can be tailored to the needs of the client. FBS MetaTrader4 offers a good selection of instruments, many technical indicators and a comprehensive charting package. You can auto trade here using the Expert Advisor.
MT5 is an updated variant of the resource that has all the advantages of MT4 but is much improved. MetaTrader 5 has an updated interface and provides higher efficiency.
IQ Option trading platform is available for PC, Mac, Android, iOS, as well as an online version for the Internet browser. All customers have a unified interface and are synchronized with each other. The developers managed to achieve a fairly high speed of order processing. At the moment, it is one of the fastest platforms in the binary options market. It includes several unique tools.
You have access to graphical tools as well as a small list of standard technical indicators: Moving Average, Bollinger Bands, Alligator, RSI, and others. It allows you to carry out some technical analysis, which is not the case with most other binary options platforms. Currently, the broker offers 12 currency pairs, indices, commodities, as well as shares of 50 large companies.
FBS provides its clients with optimized mobile versions of MT4 and MT5. The application works on both Android and IOS systems and has the basic functionality of the desktop version. You can start FBS MT4 download from Google Play or App Store.
IQ Option also follows the modern trends of trading and offers a free mobile program that can be used by any client (iPhone, Android). The program does not differ in functionality and convenience from the desktop version. The trader gets a number of significant advantages: instant access to the market at any time convenient for him, the ability to conduct a full analysis of asset dynamics, test strategies, trade in the market, track account, withdraw earnings from the deposit, etc.
The trader offers five different account types for trading:
Every trader has a real opportunity to get VIP status. To do this, you need to make a deposit of at least $ 10,000, and then conclude deals with a volume of 50 lots. FBS review says VIP clients are entitled to privileges when withdrawing funds and a personal manager.
IQ Option does not offer multiple account types like many other brokers. Here you will be able to activate only two accounts: standard or VIP. The minimum deposit to open a usual account with IQ Option is $ 10. To have a VIP account, you have to reside outside the EU and North America.
You will need to invest $ 1,900 or accumulate trading volume of $ 15,000 within 3 months. VIP account holders have higher returns on the deals like additional 2% to standard 80% . Thus, the VIP account provides you with slightly better interest rates and additional features on the site.Try FBS now!
FBS is ready to introduce a new option to improve trading and implements a professional fbs demo account. The main advantage of this feature is that it allows traders to check how the real market works by managing virtual funds on terms designed for professional market participants. Forex traders can now test their work on a professional account. But the FBS demo account does not allow transactions with real money. The advantages of a professional demo account include:
- Leverage 1: 500 for currency pairs
- Leverage 1: 200 for metals
- No risks
- The demo account is free.
IQ Option offers everyone to test its platform using a convenient demo account. There are no specific rules for the demo, you can trade as much as you want, without even switching to a real account.
You will be given virtual $ 10,000 and in case you lose all the money, you can renew your virtual funds yourself without anybody’s help.
With a demo account, trading reminds of safe entertainment.
FBS metatrader offers to deposit or withdraw money using traditional methods:
- Bank transfer
- Credit and debit cards
- Electronic paying systems
- Cryptocurrencies (Bitcoin, mybitwallet).
Transactions take from 15 minutes to 5 working days, depending on the chosen method.
On IQ Option, all financial operations are made through well-known payment systems – WebMoney, Yandex. Money, QIWI, and you can also use VISA, MasterCard and terminals.
You can get your profits only after verification. It is mandatory and reminders about it will come to the trader’s personal account immediately after registration on the site. To pass verification, you should upload copies of the specified documents to the form (it is in your personal account). After that, the account is considered active and all restrictions are canceled.
The official IQ Option website has a whole section dedicated to this topic, which describes the process of reducing the time for withdrawing funds to traders’ accounts.
FBS technical team operates without a break. The trading company is proud to say that its customer service is available around the clock.
You can use the following communication channels:
- Live chat. The operator can be reached via instant web chat, Facebook Messenger, Telegram and Viber
- Email: [email protected] and [email protected]
- Phone: +357 2531 3540
FBS Forex reviews do not state any disadvantages in the work of the technical team.
Feedback to letters comes within 1-2 hours.
Operators respond to messages in the online chat in 1-3 minutes.
IQ Option also follows the modern trends of trading and offers a free mobile program that can be used by any client (iPhone, Android). The program does not differ in functionality and convenience from the desktop version.
The trader gets a number of significant advantages: instant access to the market at any time convenient for him, the ability to conduct a full analysis of asset dynamics, test strategies, trade in the market, track account, withdraw earnings from the deposit, etc.
FBS Pros and Cons
- trading in currencies, CFDs, precious metals
- bonuses for participation in the referral program, allowing you to increase your capital without investing your own funds
- a welcome bonus when registering an account
- five types of accounts
- minimum starting deposit from 1 US dollar
- insurance of accounts against losses in case of unsuccessful trading
- leverage 1: 3000
- the ability to replenish the balance and withdraw capital through all popular electronic payment systems
- author’s mobile application for trading from iOS and Android devices.
Traders have noted the following shortcomings of the broker:
- offshore registration
- hidden commissions and fees
Pros and Cons of IQ Option Broker
- Impeccable reputation since 2014
- The best trading platform at the moment
- Lots of assets to trade
- Many different tools for earning: Forex, CFD, Binary options, funds, etc.
- It is possible to trade in cryptocurrency
- There is a demo account
- The broker may require you to verify your account – to provide passport data and photo.
- Additional commission for keeping funds in the account for more than 90 days.
Many traders who also have traded on other resources admit that FBS and IQ Option platforms belong to reputable brokers on the market. Based on this, as well as our detailed analysis of the key features, their tools and customer service, we can give both platforms a very high rating and recommend you start your online trading experience by registering a free demo account.
Only having personal experience, you will know what broker is worth attention.