Compare IQ Option vs LMFX
What is IQ Option? What is LMFX ?
IQ Option is an award-winning mobile trading platform that provides clients with an opportunity to trade 200+ assets, including currencies, indices, commodities, stocks, ETFs and cryptocurrencies.
LMFX is a worldwide reputable broker that offers trading on 7 platforms with no commissions or hidden fees. LMFX allows clients to trade forex, metals, oil, indices and shares.
IQ Option vs LMFX Regulation Comparison
IQ Option is regulated by the Cyprus Securities and Exchange Commission (CySEC) under license number 247/14. IQ Option also complies with the European Securities and Markets Authority (ESMA) and the Financial Conduct Authority (FCA) in the UK.
LMFX is not regulated by any authority and operates as an offshore broker based in North Macedonia. LMFX claims to follow the best practices of the industry and to ensure the security of funds and personal data of its clients.
IQ Option vs LMFX Trading Assets Comparison
IQ Option offers a wide range of trading assets, including 50+ currency pairs, 200+ stocks, 25+ ETFs, 10+ commodities and 20+ cryptocurrencies.
LMFX offers a more limited selection of trading assets, including 47 currency pairs, 4 metals, 2 oil products, 11 indices and 5 shares.
IQ Option vs LMFX Trading Fees Comparison
IQ Option charges variable spreads and commissions depending on the asset and the account type. The average spread for EUR/USD is 1.2 pips and the commission is 0.03% per side. IQ Option also charges a swap fee for overnight positions and an inactivity fee of $10 per month after 90 days of no trading activity.
LMFX charges variable spreads and no commissions on most of its account types. The average spread for EUR/USD is 0.2 pips on the Zero account and 1.5 pips on the Premium and Fixed accounts. LMFX also charges a swap fee for overnight positions and an inactivity fee of $50 per month after 3 months of no trading activity.
IQ Option vs LMFX Account Types Comparison
IQ Option offers two main account types: Standard and VIP. The Standard account requires a minimum deposit of $20 and offers access to all trading assets, leverage up to 1:1000, free demo account, educational materials and customer support. The VIP account requires a minimum deposit of $3,000 and offers additional benefits such as personal account manager, higher profitability rates, faster withdrawals and exclusive tournaments.
LMFX offers three main account types: Premium, Fixed and Zero. The Premium account requires a minimum deposit of $50 and offers variable spreads from 1 pip, leverage up to 1:1000, free demo account, educational materials and customer support. The Fixed account requires a minimum deposit of $250 and offers fixed spreads from 1.5 pips, leverage up to 1:400, free demo account, educational materials and customer support. The Zero account requires a minimum deposit of $100 and offers variable spreads from 0 pips, leverage up to 1:250, free demo account, educational materials and customer support.
IQ Option vs LMFX Deposit Options Comparison
IQ Option offers a variety of payment methods for deposits and withdrawals, including credit/debit cards, e-wallets (Skrill, Neteller, WebMoney), bank wire transfer and cryptocurrencies (Bitcoin, Ethereum). IQ Option does not charge any fees for deposits or withdrawals but may apply conversion rates for different currencies. The minimum deposit amount is $20 and the minimum withdrawal amount is $10. The processing time for withdrawals varies from instant to up to 9 business days depending on the method.
LMFX offers fewer payment methods for deposits and withdrawals, including credit/debit cards (Visa), e-wallets (Skrill, Neteller), bank wire transfer and cryptocurrencies (Bitcoin). LMFX does not charge any fees for deposits but may charge fees for withdrawals depending on the method. The minimum deposit amount is $50 and the minimum withdrawal amount is $10. The processing time for withdrawals varies from 2 to 15 business days depending on the method.
IQ Option vs LMFX Trading Platforms Comparison
IQ Option offers its own proprietary trading platform that is available for desktop, web and mobile devices (Android and iOS). The platform has a clean and intuitive interface, created to meet the needs of the most demanding traders. The platform provides access to over 200 assets, technical analysis tools, indicators, widgets, alerts, news feed, economic calendar and more.
LMFX offers the MetaTrader 4 (MT4) trading platform that is available for desktop, web and mobile devices (Android and iOS). The platform is a popular and widely used platform among traders, offering a range of features and functionalities. The platform provides access to over 250 assets, charting tools, indicators, expert advisors, scripts, signals, market watch, news feed, economic calendar and more.
IQ Option vs LMFX Analytical Tools Comparison
IQ Option provides a variety of analytical tools to help traders make informed decisions and optimize their trading performance. Some of these tools include:
- Technical analysis tools: IQ Option offers more than 100 technical indicators and widgets that can be applied to the charts to identify trends, patterns, support and resistance levels, entry and exit points and more.
- Fundamental analysis tools: IQ Option offers a news feed and an economic calendar that provide traders with the latest market news, events and announcements that may affect the price movements of the assets.
- Sentiment analysis tools: IQ Option offers a trader sentiment indicator and a community live trades feature that show the percentage of traders who are buying or selling an asset and the live trades of other traders on the platform.
LMFX provides fewer analytical tools to assist traders in their trading activities. Some of these tools include:
- Technical analysis tools: LMFX offers the standard MT4 tools such as charting tools, indicators, expert advisors, scripts and signals that can be used to perform technical analysis on the charts.
- Fundamental analysis tools: LMFX offers a daily market analysis section that provides traders with an overview of the major market events and trends of the day.
- Sentiment analysis tools: LMFX does not offer any sentiment analysis tools on its platform.
IQ Option vs LMFX . Which forex broker is better? Which forex broker should you choose?
Choosing a forex broker depends on your personal preferences, trading goals, risk appetite, budget and experience. Both IQ Option and LMFX have their own pros and cons, which you should consider carefully before making a decision. Here are some factors that you may want to consider:
- Regulation: IQ Option is regulated by CySEC, while LMFX is not regulated by any authority. This means that IQ Option has to follow certain rules and standards to protect its clients’ funds and interests, while LMFX does not have such obligations. If you value security and reliability, you may prefer a regulated broker like IQ Option. However, if you are willing to take more risks and trade with higher leverage, you may opt for an unregulated broker like LMFX.
- Trading assets: IQ Option offers a wider range of trading assets than LMFX, including ETFs and cryptocurrencies. This means that you have more opportunities and diversity in your trading portfolio with IQ Option. However, if you are mainly interested in forex trading, LMFX may offer enough options for you.
- Trading fees: IQ Option charges variable spreads and commissions, while LMFX charges variable spreads and no commissions on most of its account types. This means that the trading costs may vary depending on the asset, the account type and the market conditions with both brokers. You should compare the spreads and commissions of both brokers for the assets and account types that you are interested in and see which one offers better value for money.
- Account types: IQ Option offers two main account types: Standard and VIP. The Standard account requires a minimum deposit of $20 and the VIP account requires a minimum deposit of $3,000. LMFX offers three main account types: Premium, Fixed and Zero. The Premium account requires a minimum deposit of $50, the Fixed account requires a minimum deposit of $250 and the Zero account requires a minimum deposit of $100. You should choose an account type that suits your trading style, budget and needs.
- Deposit and withdrawal options: IQ Option offers more payment methods than LMFX, including e-wallets and cryptocurrencies. This means that you have more convenience and flexibility in funding your account and withdrawing your profits with IQ Option. However, LMFX also offers some popular payment methods such as credit/debit cards and Bitcoin. You should check the availability, fees and processing time of each payment method with both brokers and see which one meets your expectations.
- Trading platforms: IQ Option offers its own proprietary trading platform, while LMFX offers the MT4 trading platform. Both platforms have their pros and cons, and you should try them out with a demo account before deciding which one you prefer. The IQ Option platform has a clean and intuitive interface, but it may lack some advanced features that the MT4 platform offers. The MT4 platform is a popular and widely used platform among traders, but it may have a steeper learning curve than the IQ Option platform.
- Analytical tools: IQ Option provides more analytical tools than LMFX, including technical analysis tools, fundamental analysis tools and sentiment analysis tools. This means that you have more resources and information to help you make informed trading decisions with IQ Option. However, LMFX also provides some basic analytical tools such as charting tools, indicators and daily market analysis.
Both brokers have their strengths and weaknesses, and you should do your own research and experiment before choosing one of them.
