IQ Option vs Quotex - Fees Review included
Which broker is better IQ Option or Quotex? Our expert assessment conducted according to TU’s own methodology showed that IQ Option is one of the top brokers in the financial market with the TU Overall Score of 6.08 out of 10. Quotex is one of the top brokers in the financial market with the TU Overall Score of 7.76 out of 10. Find out more about TU Overall Score.
| Feature | IQ Option | Quotex |
|---|---|---|
Overall |
2.8 |
2.8 |
2.5 |
1 |
|
2.7 |
3.3 |
|
3.6 |
3.1 |
|
Investment Instruments |
1 |
1 |
Platforms and Charting Tools |
2.5 |
3.9 |
Deposit and Withdrawal |
3.0 |
4.6 |
Research |
3.9 |
1.5 |
Education |
3.9 |
2.3 |
Support |
2.8 |
3.0 |
Bonuses |
2.0 |
3.8 |
|
|
|
IQ Option vs Quotex: Pros and Cons
The company was founded in 2013 and today is among the leaders in this genre thanks in large part to its proprietary platform. In 2017, the broker was awarded the highest award by the Communicator Awards. Previously, the company provided binary options trading services. Now there is a gradual transition to the Forex model based on the platform of its development
QUOTEX is a broker specializing in binary options trading. The company was established in 2019. Its clients can trade currencies, metals, oil, cryptocurrencies, stock indices and earn a profit of up to 90% of the value of the option. QUOTEX has developed a proprietary trading platform which is easily customized, supports 29 technical indicators and allows investments from USD 10. The broker’s team provides support 24/7. Personal and payment information of the clients are protected with two-factor authentication
| IQ Option | Quotex | |
|---|---|---|
| Overall Pros | Сonvenience from a visual narrative, the platform is user-friendly for novice traders | Affordable minimum investment amount – USD 10 |
| Loyal terms of the tariff policy | No trading fees and no deposit, withdrawal and account fees | |
| Algorithmic trading is technically impossible | ||
| Overall Cons | A limited number of timeframes in comparison with MT4, without the possibility of setting non-standard intervals | No Regulatory License |
| The online platform is heavy on your computer’s RAM | ||
| There is no possibility of adding additional indicators, no algorithmic trading is provided |
IQ Option vs Quotex: Safety and Regulation
| Regulated By: | IQ Option | Quotex |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
Yes |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
No |
IQ Option vs Quotex: Trading Conditions
| Trading Conditions | IQ Option | Quotex |
|---|---|---|
Minimum Deposit |
$10 |
$10 |
Trading Platforms |
IQOption (own platform) |
Own platform |
Max Leverage (Futures) |
1-5 for stocks, 1-2 for cryptocurrencies, 1-20 for commodies, 1-5 for ETF, 1-500 for pairs |
Not provided technically |
Supported Markets |
Forex, Metalls, Energies, Shares, Cryptocurrencies |
Currencies, raw materials, stocks |
Trading assets |
250+ |
80+ |
Trading Accounts |
Single client account |
Single account for binary options trading |
Base Account Currencies |
EUR, USD, GBP |
USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND, NGN, MXN, EGP |
IQ Option vs Quotex: Fees
Forex Trading Fees
| Fee | IQ Option | Quotex |
|---|---|---|
Standard Account EURUSD Average Spread |
From 1.7 Pips |
The reward depends on the type of asset and the situation at the time of the transaction. The amount of remuneration - 15-90% of the investment amount |
Standard Account Fee |
$0 |
$0 |
ECN/STP Account Fee |
Not supported |
Not supported |
ECN Account EUR Average Spread |
Not supported |
Not supported |
CFD Trading Fees
| Fee | IQ Option | Quotex |
|---|---|---|
CFD Trading Fee |
Floating spread |
Reward - 15-90% |
Non-Trading Fees
| Fee | IQ Option | Quotex |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
Yes |
No |
Inactivity Fee |
No |
No |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
IQ Option vs Quotex: Trading Assets
| Asset Name | IQ Option | Quotex |
|---|---|---|
Overall |
250+ |
80+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
No |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
No |
Yes (CFD) |
ETFs |
Yes (CFD) |
No |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
Yes |
No |
IQ Option or Quotex: Investment Programs
| Asset Name | IQ Option | Quotex |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
No |
Trading Platforms: Quotex or IQ Option
| IQ Option | Quotex | |
|---|---|---|
MT4 |
No |
No |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
Own trading platform |
Own trading platform |
|
|
|
IQ Option vs Quotex: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | IQ Option | Quotex |
|---|---|---|
Bank Transfer |
Yes |
No |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
No |
Yes |
IQ Option vs Quotex: Research
| Research Type | IQ Option | Quotex |
|---|---|---|
News Feed |
Yes |
No |
Fundamental Data |
Yes |
No |
Chart Analysis |
Yes |
No |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
Yes |
No |
IQ Option vs Quotex: Education
| Education Type | IQ Option | Quotex |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
No |
Articles |
Yes |
No |
Videos |
Yes |
No |
Cent account |
No |
No |
Quotex vs IQ Option: Support
| Support Features | IQ Option | Quotex |
|---|---|---|
Working Days |
24/7 |
24/7 |
Yes |
No |
|
Phone |
Yes |
No |
Online chat |
Yes |
No |
Other |
Feedback form |
Feedback form |
IQ Option vs Quotex: Forex Bonuses and Promo
| Promo | IQ Option | Quotex |
|---|---|---|
Forex Bonus |
No |
Welcome bonus 30% when opening a real account. Cashback, bonus for using "deal cancellation" |
Affiliate Program |
Yes |
Yes. Payouts up to 80% of income or up to 7% of referral turnover |
Other Promos |
||
|
|
|
Top 5 Reviews on Quotex
-
Comment
I have been doing trding with Quotex for a while and it has been a good experience. I mainly trade EUR/USD and EUR/GBP and Quotex charts are very reliable. They are compatible with other platforms like MetaTrader 4, so I know I can trust the data. I like Quotex for its directness. No weird errors or surprise fees. Everything is transparent, which is a relief. I tried other brokers that seemed natural, but Quotex was solid. One useful thing is a demo account. I can test new strategies without risking real money, which helps me learn and improve my business. Customer support is pretty good too. I had a few questions when I started and they were quick to answer. Overall, Quotex seems like a legit platform. It's stable, safe, and doesn't do anything shady. If you are interested in trading or thinking about starting one, I definitely recommend taking a look..
-
Comment
Probably the best trading platform out there, saying this because I've used alot,the user interface is just superb couple with the simplicity, it's just too good,try it out you won't regret
-
Comment
I've been using Quotex for a while now and I'm comfortable with the platform. It's user-friendly and intuitive, which makes the registration process easy. The variety of assets available for trading is exciting, and trading operations have been smooth. I highly recommend it to anyone looking for a reliable app. Deposits and withdrawals are fast and trouble-free, which reassures me that I can easily deposit funds and withdraw profits quickly.
-
Comment
After a year with Quotex, I think it's a decent platform. I mainly trade EUR/USD and EUR/GBP through mt4, and the charts match up perfectly with Quotex's platform, no choppiness or unpredictability issues, unlike other brokers. Also, there's no sketchy stuff going on from what I can tell. You just need to put in the work studying the markets. My process is analyzing on mt4, then quickly executing trades on Quotex. So far my win rate is over 80%. I always test new strategies on the demo account first before going live. I started with just $100 and have grown it to $506 by actually understanding the fundamentals instead of blindly following indicators. While trading always carries risk, Quotex seems legit based on how it matches pricing across platforms.
-
Comment
Quotex is so far the fastest binary broker to navigate through and load, lightest and most convenient with deposits and withdrawals as it offers a wide number of payment options which makes it easy to use from any country in the world as per my experience from a couple of months using it. Quotex also has the fastest withdrawals as per my experience. It has a good looking interface too which doesn't bore or cause eye straining to the user, so you can stay before your screen for a very long time without disturbance. With Quotex, you can trade anywhere since it is very compatible with smartphones. Anyone who trades wisely (with patience, analysis and with no greed) is very more likely to grow financially. Hence I rate Quotex 5 stars!
Top 5 Reviews on IQ Option
-
Comment
IQ Option, like most brokers, has many negative reviews. But I am sure that these are people who have lost money and therefore blame the broker. With advanced knowledge, knowing how to analyze the market properly, you can make good profits! IQ Option is a good company with one of the best trading platforms for Forex and options trading. I have communicated with customer support several times, they always respond quickly. I have never had any problems with verification or withdrawing money.
-
Comment
For trading, IQ Option can be a decent option. It has been present in the market for a long time, providing the opportunity to trade both futures assets and the regular forex market. Moreover, it's crucial that IQ Option is licensed by a regulator. I have been collaborating with this company for almost a year and haven't noticed any significant drawbacks so far.
-
Comment
The IQ Option broker is a well-established organization with which I have been collaborating not for long, but successfully. For me, it is a reliable place to invest my capital. The assets are securely protected according to legislative norms, the account opening process is quick, and confidentiality is guaranteed. IQ Option offers attractive rates, consistent support, user-friendly trading platforms, and the ability to place orders even via phone.
-
Comment
I think we can confidently call IQ Option a fair and transparent broker. Fair because all commitments are fulfilled, and clients are not deceived. I have withdrawn money from here several times, everything was fine. I call IQ Option transparent because the quotes on this platform correspond to the market.
-
Comment
There are not many binary options brokers that I could trust with my money. But I trust IQ Option. I have been testing it for three years. I have traded both fast options and those with longer expiration dates. In all cases, IQ Option fully fulfilled its obligations, without manipulation.
FAQs
What should I start Forex trading with?
It is desirable for novice traders to explore trading using a demo account to learn the market and how to work on the trading platform without the risk of suffering losses. At the same time, it is advisable to review the educational materials of the broker, learn trading basics. Then you can deposit the minimum required amount to perform a small number of transactions. If you manage to close several months in a row in the black, without substantial drawdowns on the account, then you can try increasing your deposit. Also trying to copy trades automatically is a good option for a start.
What amount should I start trading with?
The minimum deposit of $10 may be enough to trade on the cent account. However, for trading on Standard/ECT accounts, experts recommend starting with at least $200-500. With this amount, you can use not a very big leverage. Remember, getting carried away with the margin is the main cause of losses among beginners.
What should I take into consideration when choosing a broker?
Experts recommend looking at the broker’s reliability first and foremost. The other important features include basic trading conditions, commissions and fees, customer reviews. If brokers are approximately the same in terms of basic criteria, you need to choose based on your experience and tasks. One broker may be good for professionals and another – for novice traders.
Is it possible to be scammed by a broker with a license from a reputable regulator?
In theory, yes. But in practice, it takes so much time and money to comply with the requirements of reputable regulators that it is not worth it for scammers to bother obtaining a legitimate license.
Team that worked on the article
Mikhail Vnuchkov joined Traders Union as an author in 2020. He began his professional career as a journalist-observer at a small online financial publication, where he covered global economic events and discussed their impact on the segment of financial investment, including investor income. With five years of experience in finance, Mikhail joined Traders Union team, where he is in charge of forming the pool of latest news for traders, who trade stocks, cryptocurrencies, Forex instruments and fixed income.
Olga Shendetskaya has been a part of the Traders Union team as an author, editor and proofreader since 2017. Since 2020, Shendetskaya has been the assistant chief editor of the website of Traders Union, an international association of traders. She has over 10 years of experience of working with economic and financial texts. In the period of 2017-2020, Olga has worked as a journalist and editor of laftNews news agency, economic and financial news sections. At the moment, Olga is a part of the team of top industry experts involved in creation of educational articles in finance and investment, overseeing their writing and publication on the Traders Union website.