Compare IQ Option vs FX Choice
What is IQ Option? What is FX Choice ?
IQ Option is an award-winning mobile trading platform that allows you to trade CFDs on stocks, ETFs, forex, cryptocurrencies, commodities and indices. It has a clean and intuitive interface, created to meet the needs of the most demanding traders. IQ Option has over 40 million members and offers a free demo account, a minimum deposit of $20, and a wide range of payment methods.
FX Choice is a leading online forex broker that provides competitive and superior service for over 10 years. It offers a new Optimum account with leverage up to 1:1000, a minimum deposit of $10, and no commissions. FX Choice also offers a 50% welcome bonus and a 65% bonus on crypto deposits. You can trade forex, cryptocurrencies, indices, commodities and shares on FX Choice using MetaTrader 4 or MetaTrader 5 platforms.
IQ Option vs FX Choice Regulation Comparison
Both IQ Option and FX Choice are regulated by reputable authorities in their respective jurisdictions. IQ Option is regulated by the Cyprus Securities and Exchange Commission (CySEC) with license number 247/14. FX Choice is regulated by the International Financial Services Commission (IFSC) of Belize with license number IFSC/60/191/TS/19.
IQ Option vs FX Choice Trading Assets Comparison
| Asset Type | IQ Option | FX Choice |
|---|---|---|
| Forex Pairs | 36 | 36 |
| Cryptocurrencies | 12 | 5 |
| Indices | 11 | 8 |
| Commodities | 6 | 3 |
| Stocks | 200+ | 100+ |
| ETFs | 25 | N/A |
IQ Option has more variety and options in terms of trading assets than FX Choice.
IQ Option vs FX Choice Trading Fees Comparison
| Fee Type | IQ Option | FX Choice |
|---|---|---|
| Deposit Fee | None | None |
| Withdrawal Fee | Varies by payment method | Varies by payment method |
| Commission Fee | None for most assets; up to 2.9% for some cryptocurrencies | None for Optimum account; from $3.86 per lot for Pro account |
| Spread Fee | Varies by asset; from 0.6 pips for EUR/USD | Varies by asset; from 0.5 pips for EUR/USD |
| Swap Fee | Varies by asset; charged daily for overnight positions | Varies by asset; charged daily for overnight positions |
IQ Option vs FX Choice Account Types Comparison
| Account Type | IQ Option | FX Choice |
|---|---|---|
| Demo Account | Yes; free and refillable with $10,000 virtual funds | Yes; free and refillable with $3,000 virtual funds |
| Standard Account | Yes; minimum deposit of $20; leverage up to 1:1000 | No; replaced by Optimum account |
| Optimum Account | No; not available on IQ Option | Yes; minimum deposit of $10; leverage up to 1:1000; no commissions; variable spreads; access to all trading instruments |
| Pro Account | No; not available on IQ Option | Yes; minimum deposit of $100; leverage up to 1:200; commissions from $3.86 per lot; tight spreads; access to all trading instruments |
IQ Option vs FX Choice Deposit Options Comparison
| Payment Method | IQ Option | FX Choice |
|---|---|---|
| Credit/Debit Card | Yes; Visa, Mastercard, Maestro | Yes; Visa, Mastercard |
| Bank Transfer | Yes; SEPA, Sofort, Rapid Transfer | Yes; Wire Transfer |
| E-Wallet | Yes; Skrill, Neteller, WebMoney, Perfect Money, AdvCash | Yes; Skrill, Neteller, Perfect Money, FasaPay |
| Cryptocurrency | Yes; Bitcoin, Ethereum, Litecoin, Ripple | Yes; Bitcoin, Bitcoin Cash, Ethereum, Litecoin, Tether |
IQ Option vs FX Choice Trading Platforms Comparison
IQ Option and FX Choice use different trading platforms for their clients. IQ Option has its own proprietary platform that is available as a web terminal, a desktop application, or a mobile app. FX Choice uses the MetaTrader 4 and MetaTrader 5 platforms that are also available as web terminals, desktop applications, or mobile apps.
The IQ Option platform has a clean and intuitive interface that allows you to trade over 200 assets with various tools and features. Some of the features include technical analysis, historical quotes, news feed, economic calendar, price alerts, trader sentiment, community live trades and more.
The MetaTrader 4 and MetaTrader 5 platforms are the most popular trading platforms in the world that allow you to trade a variety of markets with advanced tools and features. Some of the features include multiple chart types, technical indicators, expert advisors, trading signals, market depth and more.
IQ Option vs FX Choice Analytical Tools Comparison
| Analytical Tool | IQ Option | FX Choice |
|---|---|---|
| Technical Analysis | Yes; over 100 technical indicators and widgets | Yes; over 50 technical indicators and custom indicators |
| Fundamental Analysis | Yes; news feed and economic calendar | Yes; news feed and economic calendar |
| Trading Signals | No; not available on IQ Option | Yes; free and paid signals from MQL5 community |
| Expert Advisors | No; not available on IQ Option | Yes; automated trading robots that can execute trades for you |
| Market Depth | No; not available on IQ Option | Yes; shows the volume and liquidity of the market |
IQ Option vs FX Choice . Which forex broker is better? Which forex broker should you choose?
Choosing the right broker depends on your personal preferences, trading style, goals and risk appetite. However, here are some factors that may influence your decision:
- If you want to trade more than just forex, such as stocks, ETFs, cryptocurrencies and commodities, you might prefer IQ Option, as it has more variety and options in terms of trading assets than FX Choice.
- If you want to trade with low or no commission fees, you might prefer IQ Option or FX Choice’s Optimum account, as they both charge no commissions for most assets. However, you should also consider the spreads and swaps that might affect your trading costs.
- If you want to trade with high leverage, you might prefer IQ Option or FX Choice’s Optimum account, as they both offer leverage up to 1:1000. However, you should also be aware of the risks and margin requirements that come with high leverage.
- If you want to trade with a proprietary platform that has a clean and intuitive interface, you might prefer IQ Option, as it has its own platform that is available as a web terminal, a desktop application or a mobile app. However, you should also consider the compatibility and stability of the platform with your device and network.
- If you want to trade with the most popular platforms in the world that have advanced tools and features, you might prefer FX Choice, as it uses the MetaTrader 4 and MetaTrader 5 platforms that are also available as web terminals, desktop applications or mobile apps. However, you should also consider the learning curve and customization options of the platforms.
- If you want to trade with more analytical tools that can enhance your trading performance and experience, you might prefer IQ Option or FX Choice’s MetaTrader 5 platform, as they both offer more technical analysis tools than FX Choice’s MetaTrader 4 platform. However, you should also consider the availability and reliability of the tools.
In the end, the best way to decide which forex broker is better or which one you should choose is to experiment yourself. You can open a free demo account on both platforms and test out their features and services with virtual currency. This way you can get a feel for how they work and see which one suits your needs better.
