The Comparison of ExpertOption and IQ Option

Compare key features and Benefits and choose the best Broker
Posted on 6 January 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.

Binary options are gaining increasing popularity all over the world. Their affordability and high profitability attract a lot of traders. If you are going to become one of them, it is crucial to find a suitable trading platform. One of the winning features of some reputable brokers is the possibility to deposit only $10 to open a trading account. In this article, we will compare two brokers from this range. And based on the described characteristics, it will be easier for you to make your choice. So, let’s see what benefits ExpertOption and IQ Option offer to their clients.

About Brokers

ExpertOption is rather a young broker, but recently it is rapidly gaining popularity both among novice traders and professionals. The company started its commercial activities in 2014 and was registered in the UK. One of the main advantages is the minimum deposit for trading. According to ExpertOption review, the service has registered over 69 million accounts for 2020. It is a significant achievement for such a young company that proves this broker has all reasons for attracting the attention of traders from 150 countries.
Expert Option website main page
ExpertOption homepage
IQ Option, an attractive broker with an innovative approach to options trading, started its activity in 2013. The platform remains attractive to both experienced traders and beginners since its trading conditions are very loyal. The minimum deposit amount for activating a trading account is $10, and the minimum transaction is $1. At the same time, clients can get up to 95% of the profit on classic options and up to 65% of lost funds are returned.
IQ Option website main page
IQ Option homepage

Registration Process

Registration on the expert option app takes very little time. The registration form here consists of only two fields — email address and password. The user can choose the currency of the deposit after registration and authorization in the personal account, where the type of the trading account is selected.

If you want to become a client of IQ Option, the registration process will take you just a few minutes. For this, you need to fill in a simple form that can be found on the main page of the site. You can also log in via Facebook or Google account. Upon registration, you automatically have access to a demo account with virtual $10,000 and access to all platform functions. It is advisable to state true personal data for registration to avoid misunderstandings with profit withdrawals.

Trading Conditions

Minimum deposit
Minimum deposit
$10
$10
Minimum deal
Minimum deal
$1
$1
Trade profitability
Trade profitability
up to 95%
up to 95% — classic contracts
up to 900% — Digital Options
Trading instruments
Trading instruments
Binary Options
Forex, Binary Options, Digital Options, Crypto
Assets сoverage
Assets сoverage
Currency and cryptocurrency pairs, shares (of American companies), commodities
Currency and cryptocurrency pairs, stocks, commodities, raw materials
Regulation
Regulation
SVGFSA (Caribbean)
CySEC (Cyprus)
Demo account
Demo account
Yes
Yes

Bonuses

According to many expert option reviews, ExpertOption allows users to receive an additional bonus when replenishing a deposit. In general, clients are offered four categories of incentives:
  • 50% of the deposit from $50;
  • 80% of the deposit from $250;
  • 100% of the deposit from $1000;
  • 125% of the deposit from $2500.
But this offer is not permanent. It is important to check the most up-to-date information in the corresponding section on the website. The trader needs to pay attention that the accrued money cannot be withdrawn from the bonus account until the conversion. Every $50 turnover equates to a $1 convertible bonus.


However, you will find no bonuses on the IQ Option platform. Also, the company does not provide loans for trading. But there are regular tournaments on the site. The winners are the traders who were able to make the most profit using the $100 provided by the tournament organizers. Each type of tournament has an individual cost and a prize fund, which is set depending on the amount of the contribution and the number of users. The first 30 participants can receive cash rewards.

Accounts Types

You will find several trading accounts on the expertoptions platform. They all have different privileges and bonuses. You can choose one of the following ones:
Expert Option account types
ExpertOption account types
  • Basic. The account becomes available with a top-up of $50 or more. Each trader will get access to training materials except for the strategies details. The maximum number of open deals is 10. The amount of one deal cannot be more than $25.
  • Silver. The trader becomes an owner of this account when replenishing the trading account for 500 or more dollars. Each client of the Silver Account is provided with a personal manager. A training section and analytics are also available. The maximum number of transactions is 15, the amount of one transaction is up to $250.
  • Gold. This account status is granted to users who made a trading deposit of $2,500 or more. There will be all the same privileges as in the Silver account, but the maximum number of simultaneously open trades is increased to 30, as well as the trade amount can go up to $ 1,000. Withdrawal requests from Gold accounts are processed faster than requests from Silver and Basic accounts.
  • Platinum. You can switch to this account type with a deposit of $5,000 or more. The number of transactions is unlimited, and the maximum amount of the deal is 2 thousand.
  • Exclusive. To activate this account, the trader should receive an invitation. Among the winning features is the constant contact with a senior manager and free access to strategies. The maximum amount of one transaction is $5,000.

If you are a beginner, it is advisable to start with a Basic account.
On the IQ Option platform, there are two main account (apart from demo) variants:
IQ Option account types
IQ Option account types
  • The real trading account. To activate it, it is enough to have only $10. Even with this small deposit, you will be able to use all the platform's benefits. You can trade all assets offered by the broker, get a 45% compensation in case of a mistaken forecast. Moreover, you can follow educational updates like webinars and much more.
  • A VIP account requires a deposit from $1900. Its holders receive bonuses up to 100%, up to 60% refund in case of incorrect deals, free notifications, a personal manager.

Demo Account

Another distinctive feature of expert option trading is a demo account without registration, available to all users at any time. To evaluate all the key advantages of the trading platform, you need to go to the official website of the company and click "Free demo". The demo will help beginners get comfortable with trading binary options. Everyone can safely test various strategies, test indicators, etc. For trading, the user will be credited 10,000 USD to the virtual account. This amount is enough to enjoy the capabilities of the platform and test your own strategy. Expert option demo has no time limits.
Expert Option demo account interface
ExpertOption demo account
IQ Option also offers a demonstration account to its users, and it has ideal characteristics:
  • The virtual money is refundable;
  • No hidden fees;
  • $10,000 deposit.
This training activity will allow you to feel more confident when trading on a real account and make the right decisions. To access a demo account, you just need to register on the company's website.
IQ Option practice account interface
IQ Option demo account

Payments

On ExpertOption, you can deposit and withdraw funds with the help of more than 20 electronic payment systems (Neteller, Skrill, Perfect Money, FasaPay and others), banking cards (Visa, MasterCard, Maestro, Union Pay) and direct bank transfers. The smallest amount you can transfer is $10, and the whole process will take 2 working days. To initiate a withdrawal operation, you will need to submit an application in the "Finance" section of your personal account. Also, the broker will ask you to provide copies of your identification documents. The list of required papers for verification you will find on the official website.

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.

Mobile Version

Following modern trading trends, the ExpertOption broker offers clients a mobile application that can be downloaded for free on their smartphones (iPhone, iPad and Android). The advantage of such a solution is that the user has access to the platform from any location. If he has free time, he can start working in the mobile application at any time: enter his personal account, check the account status, replenish a deposit or withdraw money, test strategies, and trade. The expert option mobile trading app has all the features of the desktop version and is convenient and functional.
Expert Option mobile app download options
ExpertOption app's download options
IQ Option tries to make the work of a trader comfortable. Therefore, they have the opportunity to practice on a demo account, when the client trades not for real money, but for virtual $10,000 provided by the broker. In the training terminal of the platform, you can test trading signals, work out strategies, which will make it possible to feel more confident when trading on a real account, and develop composure when making decisions. To access a demo account, you just need to register on the company's website.
IQ Option app download options
IQ Option app's download options

Customer Support

Expert options site provides around-the-clock support service to its clients in 5 languages. You can contact the operator by:
  • online chat;
  • hotline phone: +7 (499) 403-30-06;
  • feedback form.
If you need an urgent answer to your question, the ideal option would be to contact the technical team in the online chat. In most cases, you will get a response within 20-30 seconds.


IQ Option also offers good service to its clients. Support is available 24 hours a day by phone, chat or email. For beginners, there is a large educational center with over 200 different videos. Besides, the broker offers to the traders the possibility to cooperate with Account Managers and VIP Managers. They will help you understand the platform better. The biggest advantage is 24-hour live chat support.

Wrapping Up

Both platforms are suitable not only for experts with extensive experience but also for beginners who just came to this market. For both categories of traders, the companies provide all the necessary tools and create excellent conditions for making money. Every year, trading conditions are improving on IQ Option and expertoptions, the profitability parameter is growing, and more users join the platforms. It means that both brokers have deserved it to be on the list of reliable and respectable brokers. For beginners, it is recommended to test demo versions of both sites to see which broker suits you best.
High-quality and visually attractive platform;

A good selection of assets for trading;

The investment is only $1;

Low level of the initial deposit;

Many convenient ways to deposit and withdraw funds;

High payouts for options;

Attractive bonus program (up to 100% on the first deposit).

Around-the-clock schedule allows users to trade at a time convenient for them;

Possibility to test the service on the expert option demo account.
High risks of binary options with transactions for 1-5 minutes.

Absence of an affiliate program.

Too primitive trading strategies that can lead to the loss of the deposit;
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Easy-to-use with great design trading app

Big variety of trading assets

Minimum investment starts with $1

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

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

Up to 92% of the deposit amount can be used in the trade.

A large set of indicators and other trading tools.

Tournaments with prizes.
High risks of binary options with transactions for 1-5 minutes.

Sometimes delays happen during funds withdrawal.
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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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