IQ Option vs IG.com
Currently, IT technologies are the main tool for development in production and services and are available for most participants of trading markets. This is one of the reasons of growth of available brokers, who offers services related to online trading. From the one side, increase in competitors’ amount stimulate to offer additional tools and features for users, to hold existing traders and attract new ones. From the other side, it makes difficult to choose partner for trading for people, who only begin to trade and require platform. And the most difficult part is to define, whom from the best is decent for investment and further cooperation, in case, when there are lots of reputable brokers and basic services are similar. Too much information should be processed and too many comparisons performed, so all in all it is easy to be confused. The article is aimed to introduce and describe main benefits of giants in a trading sphere – IQ Option and IG.Com.
What should be known about companies?
Common things that are requested in searches are: security, amount of funds required at the start of cooperation, process of replenishing and withdrawals, statistics of earnings and followers for the last year, represented assets, and specific benefits offered to clients only.
But before detailed review of these characteristic related to the brokers mentioned above, reference information about each one should be learnt.
IG.com is one of the oldest brokers that relates to the group of companies IG Markets LTD. that started activity in 1974 year (actually IG.Com was founded in 2003). Company is located in London and regulated by ASIC and FCA. In a same time, it is a winner of prestige awards such as Best CFD Provider, Best Finance App, Best Trading Platform, Best Multi-Platform Provider. Amount of clients comprises of almost 200 thousand users, that mainly select CFD for trading (the main specialization of service).
IQ Option is much younger broker, who, nevertheless, has much more followers (over 16 000 thousands). In a same time, there was no such a year, that would not bring an award to IQ Option since 2014 (while it was opened in 2013) from The Web Market Association, Global Banking and Finance, IFM Awards, Forex Awards, Master Forex-V and others.
What are main differences?
IG.Com offers to user either have a practice via demo account, or create a standard one and replenish balance to start operations. No improvement and special offers, regarding different types of accounts, is offered.
IQ Option gives more opportunities regarding settings of account. It can be demo, that allows to have a practice, or standard for performing typical deals, or it can be pro-version, that give access to additional learning materials and analytical tools. Even requirements for Islamic users were considered by creation respective accounts. That creates more opportunities and give feel of convenience and care from the side of IQ Option team.
There significant differences are absent, so things to be acknowledged with are:
- The lowest amount of deposits: for trading with IG.Com – $150 and $100 for IQ Option. Obviously, it is more comfortable, when you have wider range and lower amount for replenishment of own deposit.
- Minimal funds to entry a deal comprise $10 for both platforms.
- Commissions for withdrawals are also withheld by both brokers, but only in case of using banking transfers. For other payment system fee is absent. On practice, IG.Com processes requests for withdrawals during up to four days. IQ Option improved the service and there is no necessity to wait for earning for so long, money will be received in a same day.
- Payment systems supported by IG.Com are Master Card and Visa or Wire Transfer (fine should be considered). IQ Option is working with: ECommPay Limited, CardPay, Webmoney, Qiwi, Cubits, Neteller, Skrill and banking cards.
Learning. Both companies are caring their newcomers and provides tutorial materials and special account for practicing, to help fight the fear that is common for all beginners.
Tournaments. There are no any competitions, offered by IG.Com. In a same time, IQ Option offers monthly/weekly/seasonal and other Contests.
Analytical tools. Both Companies provide users with sufficient analytical support, appropriate new channels, technical support. IQ Option additionally offers service of personal financial consultant.
Applications. Both companies are used to work via all available gadgets: personal computers, smartphones, tabs and so on.
Both Companies have diversity of financial assets to be traded: CFD, Options, Indices, futures, bonds and shares – all of that are available on these platforms.
Own preferences and requirements are key factors for decision-making regarding selection of appropriate parent for trading. Let the differences described above show all strong and weak sides for helping to make such decision.