IQ Option vs Quotex – Which broker is better? This is a question that many people ask when looking for a good binary options broker. Both are respected brokers in the trading world, each offering top-notch trading platforms known for their reliability and advanced features.
In this article, we will carry out a thorough comparison, exploring the distinctive features, benefits, and potential drawbacks of each platform, with the aim of providing you with comprehensive insights to help you make an informed choice between IQ Option and Quotex. Whether you prioritize a diverse range of assets, a user-friendly interface, or high leverage, this article aims to light the way to your ideal trading companion.
Detailed comparison between IQ Option and Quotex:
See the core facts of both brokers here:
| Basis features: | IQ Option | Quotex |
|---|---|---|
| Demo Account: | Yes | Yes |
| Minimum Deposit Amount: | $10 | $10 |
| Minimum Withdrawal Amount: | $2 | $10, $50 for Bitcoin withdrawals |
| Assets: | 300+ | 100+ |
| Fees And Commission: | No deposit fees, 2% withdrawal fees after the first month, and other fees related to trading and inactivity. | No commission for trading options |
| Deposit And Withdrawal Methods: | Debit cards, credit cards, e-wallets | Debit cards, credit cards, internet banking, e-wallets, and Cryptocurrencies. |
| Return On Investment: | Up to 100% | Up to 95% |
| Forex Trading: | Yes | No |
| Leverage: | Up to 1:500 | / |
| Spreads From: | 1.0 Pips | / |
| Trading Signals: | No | Yes |
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Demo account of the brokers
A demo account is extremely beneficial in helping you understand trading, especially if you are a beginner.
With a demo account, you can test your trading strategies and familiarise yourself with how the online trading platform works. Find out more about IQ Option and Quotex demo accounts.
IQ Option demo account
IQ Option offers you a hassle-free process to sign up for a demo account. Just enter a few details on the registration page and you are ready to go. The IQ Option demo account is free and you can open it at any time.
Quotex demo account
Quotex is another online trading platform that, like all brokers, offers its clients a free demo account. You can learn about the real market conditions while trading on the Quotex demo account.
Quotex offers its clients the opportunity to trade openly and honestly. All of Quotex’s operations are transparent and you can learn more about them by signing up for a demo account with them.
So, there is not much to argue about IQ Option vs. Quotex demo account. You can choose either of these brokers to open a demo account with. Both brokers offer a free demo trading account to their clients to help them build adept trading strategies.
| Specification: | Quotex | IQ Option |
|---|---|---|
| Rating (based on this comparison): | 10 / 10 | 10 / 10 |
| Demo account: | Available | Available |
(Risk warning: You capital can be at risk)
Minimum deposit compared
The minimum deposit amount is another important parameter in our IQ Option vs Quotex review. A low minimum deposit amount plays a crucial role in deciding which broker to choose. Usually, beginners do not want to get stuck with brokers that have a very high minimum deposit. As they lack experience, they don’t want to invest a large part of their savings in the minimum deposit.
IQ Option minimum deposit
The minimum deposit on IQ Option is only $10, so you do not have to worry about losing a large portion of your money when making your first trades.
Once you have funded your account with $10, you can start trading with the broker for as little as $1. So, after you have become familiar with risk and money management through your demo account, you can enter the real market with just $1. Even if you lose this money, you will not feel disappointed.
(Risk warning: You capital can be at risk)
Quotex minimum deposit
Like IQ Option, the minimum deposit amount at Quotex is only $10. Both of these brokers have a very nominal minimum deposit amount. A beginner can easily start trading with such a low amount.
Based on the minimum deposit amount, both brokers appear to be viable. You don’t have to give up a lot of your money to fund your trading account with these brokers.
(Risk warning: You capital can be at risk)
| Specification: | Quotex | IQ Option |
|---|---|---|
| Rating (based on this comparison): | 10 / 10 | 10 / 10 |
| Minimum deposit: | $ 10 | $ 10 |
| Deposit fees: | No | No |
Minimum withdrawal amount
A minimum withdrawal amount is also a major concern for traders when signing up for an online trading account.
If a broker sets a minimum withdrawal amount, you will not be able to withdraw less than that amount.
For example, if the minimum withdrawal amount on an online trading platform is $100 and you only have $50 in your online trading account, you will not be able to withdraw it. If you do, the broker may charge you a fee.
Let us look at the minimum withdrawal amount at IQ Option vs. Quotex.
IQ Option minimum withdrawal amount
Starting from $2, you can withdraw any amount from your IQ Option trading account. It is better than most brokers since most of them have a very high minimum withdrawal amount.
Therefore, you don’t have to worry about your investment getting stuck because you don’t have the minimum withdrawal amount in your trading account.
(Risk warning: You capital can be at risk)
Quotex minimum withdrawal amount
The minimum withdrawal amount at Quotex is similar to the minimum deposit amount, i.e., $10. The amount is higher than the minimum withdrawal amount of the IQ Option.
After analyzing the minimum withdrawal amount in IQ Option or Quotex, the former seems to be the better option. To withdraw money from a Quotex trading account, you need to have $10 in your account. On the other hand, you can withdraw as little as $2 from your IQ Option online trading account.
(Risk warning: You capital can be at risk)
| Specification: | Quotex | IQ Option |
|---|---|---|
| Rating (based on this comparison): | 7 / 10 | 10 / 10 |
| Minimum withdrawal: | $ 10 | $ 2 |
| Withdrawal fees: | No | No |
Fees and commissions
When choosing a broker, you should pay close attention to fees. No trader likes to sign up with a broker that charges very high fees and commissions. After all, who wants to share part of their profits with the broker?
Fees and commissions are our next topic of discussion in IQ Option vs Quotex.
IQ Option fees and commission
IQ Option gives a very transparent structure of their fees and commission on their website. The spreads at IQ Option vary according to the assets and their volatility and liquidity during the trading hours.
IQ Option charges a 2.9% commission on your earnings on cryptocurrencies. There are no brokerage fees or commissions on other financial instruments with IQ Option. IQ Option’s swap fees vary between 0.1% and 0.5%.
The broker may also charge you an inactivity fee if you do not operate your trading account for 90 days. This inactivity fee is $10 per month. You also don’t have to pay a withdrawal fee to the broker as long as you don’t use the bank transfer option. If you use the bank transfer option, the withdrawal fee is €31.
(Risk warning: You capital can be at risk)
Quotex fees and commissions
The Quotex fees are low, and the broker sets a different profit percentage for different assets. Some of the factors that affect Quotex’s profit percentage are the liquidity of the asset, the timing of the trade, and other economic events that occur in the market.
However, there are no commissions charged for trading. You do not have to pay any withdrawal fees to Quotex to withdraw your funds from your trading account.
The fees and commissions charged by the two brokers are very different. However, Quotex seems to be the better option based on fees and commissions.
(Risk warning: You capital can be at risk)
| Specification: | Quotex | IQ Option |
|---|---|---|
| Rating (based on this comparison): | 10 / 10 | 9 / 10 |
| Fees: | Spreads vary according to assets, volatility, and liquidity during trading hours. | Different profit percentages for different assets, affected by liquidity, trade timing, and other market events. |
| Inactivity fees: | $10 per month (if account is inactive for 90 days) | No |
Deposit and withdrawal methods
Multiple deposit and withdrawal options offer convenience to the broker. For example, if one deposit or withdrawal method is not working, you can use another. This protects you from losing on your winning trades.
IQ Option deposit and withdrawal methods
IQ Option offers clients a variety of deposit and withdrawal methods. The following options are available for depositing and withdrawing funds from your IQ Option trading account.
- Debit cards
- Credit Card
- Maestro
- Skrill
- WebMoney
- Cash U
- Neteller
- Moneybookers
- Cryptocurrency
- and some more
(Risk warning: You capital can be at risk)
Quotex deposit and withdrawal methods
Like other online trading platforms, Quotex offers a variety of deposit and withdrawal options.
The deposit and withdrawal methods of Quotex include:
- Bank cards (both Visa and MasterCard)
- Cryptocurrency
- Internet banking
- E-wallets
Both brokers offer all deposit and withdrawal methods. However, Quotex offers you the advantage of being able to deposit and withdraw funds using cryptocurrency.
| Specification: | Quotex | IQ Option |
|---|---|---|
| Rating (based on this comparison): | 10 / 10 | 8 / 10 |
| Deposit and withdrawal methods: | Bank cards (both Visa and MasterCard), Cryptocurrency, Internet banking, E-wallets | Debit cards, Credit Card, Maestro, Skrill, WebMoney, Cash U, Neteller, Moneybookers, Cryptocurrency, and some more |
Final conclusion – Quotex wins the comparison
In conclusion, when comparing IQ Option and Quotex, it is important to consider the unique features, benefits and potential risks associated with each platform. IQ Option stands out for its extensive range of assets, high leverage and advanced trading tools, making it a suitable choice for traders looking for variety and an enhanced trading experience. However, the lack of regulation raises significant concerns about the platform’s trust and security, which potential users will need to consider carefully.
Quotex, on the other hand, wins our comparison. It offers a user-friendly interface and a variety of trading instruments, with the added benefit of trading signals, making it a favorable choice for those who value simplicity and additional trading insights. The platform’s clear and transparent fee structure and the availability of regulated trading options can also contribute to a safer and more trustworthy trading environment.
The choice between IQ Option and Quotex depends largely on individual trading preferences and risk tolerance. Regardless of the choice, it is imperative that traders conduct thorough research, consider the risks involved and employ effective risk management strategies to protect their investment. In our opinion, Quotex wins the comparison, making it an excellent choice for aspiring binary options traders.
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Frequently asked questions about IQ Option vs Quotex:
Do both IQ Option and Quotex offer demo accounts?
Yes, both IQ Option and Quotex offer free demo accounts to their users.
What is the minimum deposit amount for both brokers?
The minimum deposit amount is $10 for both IQ Option and Quotex.
Which broker has a lower minimum withdrawal amount?
IQ Option has a lower minimum withdrawal amount of $2, compared to Quotex’s $10.
Do both brokers charge a commission on trading options?
No, only IQ Option charges a commission depending on the asset and market conditions, while Quotex does not charge any commission for trading options.
Which broker offers more flexibility in deposit and withdrawal methods?
Quotex offers more flexibility, allowing deposits and withdrawals through various methods including cryptocurrency, whereas IQ Option also offers multiple methods but does not emphasize cryptocurrency as much as Quotex does.
