Binary Options and IQ Option — main features to consider

The comparison of key features and benefits of Binary.com and IQ Option platforms.
Posted on 12 September 2021
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Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

Many beginning traders are looking for online brokers that would be suitable to start trading from scratch. First of all, novices are trying to choose the broker that does not require a large amount of deposit to get started. But there are other important parameters of a broker such as reliability, trading conditions, payment options and many more. It is obvious that users do not have time to learn all details about brokers and financial markets. And this article will help you learn more about two innovative and progressive binary options brokers – www Binary.com and IQ Option.

About Brokers

Binary options broker (earlier known as BetOnMarkets.com) started its operations in the binary options market in 1999. Currently, it is one of the leading companies in this segment. Over the years, Binary com has released a large number of trading tools that are aimed to reduce trading risks. This approach allowed Binary options app to attract over a million active users. In 2013 Binary.com rebrands to Deriv. The rebrand comes with enhanced features and a new range of trade types.
Deriv (ex-Binary.com) website homepage
Deriv (ex-Binary.com) homepage
IQ Option is a world leader in providing binary options trading services. Since 2013, it has managed to attract more than 60 million registered users. Traders can open an account with only $10 and enjoy all features of the platform. The minimum contract value is only 1 US dollar. It provides numerous traders with the opportunity to earn income by trading cryptocurrency, options, trading CFDs.
IQ Option website homepage
IQ Option homepage

Registration Process

Opening an account with Binary.com is very easy. Just insert your email and get started. Alternatively, you can use your Google or Facebook account to register. But to trade real money, traders should submit more information. You will need to complete the form before you are able to deposit and withdraw money. Binary.com is a regulated company and as a result, they must verify your identity. Just upload your ID document to get started. There are no fees for opening an account.

To open an account and start trading on IQ Option, the user needs to register. If you only plan to get acquainted with the services of the company and try to trade on a demo account, then it is enough to indicate the name, surname and e-mail. For this, the broker does not demand any other information. However, to trade in real currency and withdraw profits, the client needs to confirm his personal data. Therefore, we strongly recommend that you enter true details, otherwise, you may face problems with the money withdrawal.

Trading Conditions

Minimum deposit
Minimum deposit
$5
$10
Minimum deal
Minimum deal
$1
$1
Compensation of wrong forecasts
Compensation of wrong forecasts
Up to 10%
Up to 50%
Trading instruments
Trading instruments
Binary Options, Forex, Crypto, CFD
Forex, Binary Options, Digital Options, Crypto, CFD
Trade profitability
Trade profitability
From 80% to 100%
up to 95% — classic contracts
up to 900% — Digital Options
Knowledge Base
Knowledge Base
Available
Available
Demo account
Demo account
Yes
Yes

Accounts Types

The Binary online review says there are two types of trading accounts: standard trading and virtual.
If you are confident enough to start trading in real time, you can open a standard trading account. Unlike most binary options brokers that require a high minimum deposit to open a live trading account, Binary.com asks a minimum deposit of just $5, which is perfect to gain trading experience. This process is simple and hassle-free. If you've already signed up for a demo account, the process of converting it to a standard account requires just a single click.
Binary.com account types
Deriv (ex-Binary.com) account types
On IQ Option platform, you can opt for a demo account, real account and a VIP account.
IQ Option account types​
IQ Option account types
  • Demo account. No deposit required.

  • Real account. The minimum deposit for a real account is $10.

  • VIP account. To use this type of account you need to have $1900 or more. But in return, you will receive the best conditions for trading binary options, VIP support, as well as the best education for trading.

Demo Account

A tangible advantage of Binary broker is a demo account. Binary trading reviews state it is identical to a real account, and you will find the same assets, types of options contracts and other instruments here. $10,000 is credited to the virtual account, enabling each trader to conduct their own test of the platform, identify its advantages and disadvantages, get used to it, test their own trading strategy and hone trading skills. To activate a demo account, you do not need to replenish a deposit. You just need to choose an account type during the registration.
Binary.com demo account interface
Binary.com virtual account
IQ Option was among the first brokers to offer their users a free demo account with which they could learn how to trade. This novelty transformed the entire industry and many online binary options brokers followed this initiative and introduced a similar training tool.

The free demo account allows users to become familiar with the trading platform and learn all the ins and outs of binary options trading before they start risking real money. The IQ Option demo version even includes a training webinar. A demo account is the safest way to start trading binary options:

  • The virtual money is refundable;
  • No hidden fees;
  • $10,000 deposit.

IQ Option practice account interface
IQ Option demo account

Platforms

Binary broker has launched two similar trading advanced platforms. Binary.com company review says the differences between them are really minor. WebTrader allows users to add and rearrange elements: charts, control panels, trade history.

  • SmartTrader is a more adaptive terminal. There is a possibility of multi-window mode. More than 130 tools are integrated, as well as a basic set of technical and graphical indicators for browser platforms.
  • Web Trader is a classic online platform. It has a large number of trading tools with internal charts of the company.


IQ Option has developed its own trading platform. It has a couple of standard indicators, the possibility to display several charts, as well as the ability to build graphical elements, which allows you to apply simple trading strategies. Trusted binary reviews prove the broker is constantly adding new features to the software and trying to improve the clients' trading experience.

Bonuses

Binary company has a good reputation on the market and does not need to offer clients special motivating bonuses and tempting offers like other brokers. The minimum deposit of only $ 5 attracts a lot of new users to the platform, who are always looking for opportunities for affordable trading. However, Binary does run promotions for traders, albeit less frequently than its competitors. New traders receive a welcome bonus: from 10 to 100% (depending on the amount of funds on the account). All earnings from the bonus can be withdrawn from the system in a convenient way.


IQ Option stopped giving out bonuses in 2016. Instead, the broker introduced an alternative method for its clients to get a reward. You can participate in tournaments. The profit is formed from the broker's own funds and deposits in equal proportions. The prize is distributed between the top 30 players.

Affiliate Program

For active traders, the Binary broker offers an additional earning option. Thus, users can take part in the affiliate program. In total, there are two types of programs:

  • Partner. Program participants receive up to 45% of the referral commission. Funds are credited after the 15th day of each month.
  • Introducing Broker. Users get the opportunity to earn commissions from the trading activities of referrals that were attracted to the MetaTrader 5 platform. The amount of commission depends on the asset and is calculated using a special formula.

Mobile App

Binary.com offers its users to trade via mobile devices. Its platforms are available for smartphones. You can download Metatrader 5 as an app or use the Tick app to trade. The advantage is that you need only one account to trade with your computer and use the application at the same time. A mobile application allows the broker to enlarge its audience considerably as the number of smartphone owners is steadily growing. With Binary Options app, you can check your trading positions at any time, react to economic news within seconds and trade the markets.
MetaTrader 5 mobile app can be used to trade on Binary.com
IQ Option's mobile trading app is easy to use and offers the same level of functionality as the web and desktop versions, making it suitable for both beginners and experienced traders. The app is available for Android and Apple (iOS) devices and can be downloaded for free. It is an exclusive chance for traders to play round the clock from any location.
IQ Option app download options
IQ Option app's download options

Deposit and Withdrawal Options

On the www.Binary.com, you can manage all financial operations through bank transfers, credit cards and 12 different electronic wallets. Depending on the method of money deposit or withdrawal, the transaction will be completed within 5 business days. The minimum withdrawal amount is $5, and the maximum is $100,000 by bank transfer.

IQ Option
also tries its best to make the work of a trader comfortable. The broker does not have any limits regarding the amount of the withdrawal. All payments are usually settled within three days since the application is submitted. The platform deals with all the payoff requests during 24 hours. Every trader receive the earned money on their banking cards or electronic wallets.
IQ Option deposit and withdrawal methods
IQ Option deposit and withdrawal methods

Training

Binary does not leave new traders on their own. The website includes a training section. It helps beginners understand the nuances of the binary industry. Binary trading reviews show a special attention is devoted to the principles of price fluctuations and methods of its analysis. In general, the information contained here will be useful not only for beginners but also for advanced traders who want to refresh their knowledge.

Periodically, the company conducts training and introductory webinars, which anyone can attend free of charge. You may find the link to these materials is at the bottom of the main page.


IQoption was also among the first brokers to offer interactive learning tools to its users. This approach strengthened its position in the binary options market. The platform sincerely believes that a successful binary options trader is, first of all, a well-trained trader. There are many efficient learning tools on the site: free webinars, training videos, guides and eBooks.

Customer Support

According to Binary.com company review, the platform offers to solve all difficulties that may arise while online trading via its technical staff. There are many ways in which communication can be provided:

  • Urgent problems can be discussed via Live Chat;
  • You can make a phone call or order a call back;
  • Questions that do not require the prompt intervention of technical specialists can be clarified by sending an email through a special form. You will find it in the "Contacts" section of the official site.


IQ Option also does its best to assist the customers at every stage of trading. It offers:

  • 24/7 support around the clock;
  • Communication in different languages;
  • Email, chat and phone channels;
  • VIP Account Managers.

Wrapping Up

Both trading platforms are known for high-quality execution, a variety of assets, speed and availability of the tools a trader needs. Binary and IQ Option brokers are a reasonable option for both beginners and experienced traders. A full demo account allows you to hone your trader's skills, and online support is always ready to help its clients. Choosing one of these brokers, you can be sure that you are working with a reliable partner with a reputation as a professional company.
The website includes unique analytical tools.

Minimum deposit is 5 dollars (via e-wallets).

You can start to invest with only 1 dollar.

A variety of types of binary contracts, which provides the trader with almost unlimited opportunities to implement trading ideas.

The ability to automate the trading process using the unique Binary trading Bot service.

The broker's activities are controlled by several regulators, which is confirmed by the relevant licenses.

An informative official site that, among other things, provides quality educational materials for novice traders.
PROS:
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Easy-to-use with great design trading app.

Low deposit for getting started — you need to invest only 10 dollars.

Minimum investment starts with 1 dollar.

The minimum expiration period is one minute, and the maximum one is a month.

A high percentage of profit in case of a successful forecast.

Tournaments with prizes.

Personal manager (VIP account).

The company is legal and officially regulated.

Webinars and large library of video tutorials.

Safe payment system.
PROS:
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Min deposit and withdrawal via bank transfer is 500 USD!

No PayPal
CONS:
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High risks of binary options with transactions for 1-5 minutes.

Sometimes delays happen during funds withdrawal.
CONS:
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GENERAL RISK WARNING:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
87% of retail investor accounts lose money when trading CFDs with this provider.
You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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