Pocket Option vs IQ Option - Fees Review included
Which broker is better Pocket Option or IQ Option? Our expert assessment conducted according to TU’s own methodology showed that Pocket Option is one of the top brokers in the financial market with the TU Overall Score of 9.57 out of 10. IQ Option is one of the top brokers in the financial market with the TU Overall Score of 6.08 out of 10. Find out more about TU Overall Score.
| Feature | Pocket Option | IQ Option |
|---|---|---|
Overall |
3.7 |
2.8 |
1.3 |
2.5 |
|
4.3 |
2.7 |
|
3.2 |
3.6 |
|
Investment Instruments |
3.8 |
1 |
Platforms and Charting Tools |
4.7 |
2.5 |
Deposit and Withdrawal |
4.2 |
3.0 |
Research |
3.8 |
3.9 |
Education |
4.1 |
3.9 |
Support |
4.4 |
2.8 |
Bonuses |
3.1 |
2.0 |
|
|
|
Pocket Option vs IQ Option: Pros and Cons
Pocketoption was launched in 2017. The company has the team of professional traders, as well as IT and FinTech experts. The broker gives its clients access to trade currency pairs, commodities, stocks, cryptocurrencies, and indices. Pocket Option provides its clients with access to more than 100 global trading assets. To operate in the financial markets, the company has developed its own unique trading platform. In addition, Pocket Option clients can trade in MT5. The broker’s service is available in more than 95 countries and regions globally. Pocketoption’s top priority is the high quality of customer service, constant improvement of trading technologies, and financial innovations.
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
| Pocket Option | IQ Option | |
|---|---|---|
| Overall Pros | Low initial amount to start trading - the first deposit starting with $50 ($10 for Forex) | Сonvenience from a visual narrative, the platform is user-friendly for novice traders |
| Social trading platform to receive passive income | Loyal terms of the tariff policy | |
| Author's Telegram Bot from Pocket Option with signals | ||
| No fees for withdrawals and deposits | ||
| Ability to trade on Forex in the MT5 platform | ||
| Overall Cons | There is no regulation. Obtained a license of a non-profit organization in Russia | A limited number of timeframes in comparison with MT4, without the possibility of setting non-standard intervals |
| Minimum withdrawal starting with $10 | The online platform is heavy on your computer’s RAM | |
| There is no possibility of adding additional indicators, no algorithmic trading is provided |
Pocket Option vs IQ Option: Safety and Regulation
| Regulated By: | Pocket Option | IQ Option |
|---|---|---|
US Regulation |
No |
No |
FCA (Great Britain) |
No |
No |
CySec (Cyprus, EU) |
No |
Yes |
ASIC (Australia) |
No |
No |
Other Regulators |
Center for Regulation of Relations in Financial Markets (Russia) |
No |
Pocket Option vs IQ Option: Trading Conditions
| Trading Conditions | Pocket Option | IQ Option |
|---|---|---|
Minimum Deposit |
$50 (for options), $10 (for Forex) |
$10 |
Trading Platforms |
МТ5 (for Forex), own platform (for options) |
IQOption (own platform) |
Max Leverage (Futures) |
1-500 (for Forex) |
1-5 for stocks, 1-2 for cryptocurrencies, 1-20 for commodies, 1-5 for ETF, 1-500 for pairs |
Supported Markets |
Forex, Metalls, Energies, Indices, Shares, Cryptocurrencies |
Forex, Metalls, Energies, Shares, Cryptocurrencies |
Trading assets |
100+ |
250+ |
Trading Accounts |
Binary Options, STP (Forex) |
Single client account |
Base Account Currencies |
USD, EUR |
EUR, USD, GBP |
Pocket Option vs IQ Option: Fees
Forex Trading Fees
| Fee | Pocket Option | IQ Option |
|---|---|---|
Standard Account EURUSD Average Spread |
From 0.7 Pips (For Forex) |
From 1.7 Pips |
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 | Pocket Option | IQ Option |
|---|---|---|
CFD Trading Fee |
Floating spread |
Floating spread |
Non-Trading Fees
| Fee | Pocket Option | IQ Option |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
Yes |
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.
Pocket Option vs IQ Option: Trading Assets
| Asset Name | Pocket Option | IQ Option |
|---|---|---|
Overall |
100+ |
250+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
Yes (CFD) |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
Yes (CFD) |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
No |
ETFs |
No |
Yes (CFD) |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
Yes |
Yes |
Pocket Option or IQ Option: Investment Programs
| Asset Name | Pocket Option | IQ Option |
|---|---|---|
Copy Trading |
Yes |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
Trading Signals |
No |
Trading Platforms: IQ Option or Pocket Option
| Pocket Option | IQ Option | |
|---|---|---|
MT4 |
No |
No |
MT5 |
Yes |
No |
cTrader |
No |
No |
Appropriate platform |
No |
No |
Others |
Own binary options trading platform |
Own trading platform |
|
|
|
Pocket Option vs IQ Option: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Pocket Option | IQ Option |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
Yes |
Crypto |
Yes |
No |
Pocket Option vs IQ Option: Research
| Research Type | Pocket Option | IQ Option |
|---|---|---|
News Feed |
Yes |
Yes |
Fundamental Data |
Yes |
Yes |
Chart Analysis |
Yes |
Yes |
Trading Ideas |
Yes |
Yes |
E-Mail Reports |
No |
Yes |
Pocket Option vs IQ Option: Education
| Education Type | Pocket Option | IQ Option |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
No |
Articles |
No |
Yes |
Videos |
Yes |
Yes |
Cent account |
No |
No |
IQ Option vs Pocket Option: Support
| Support Features | Pocket Option | IQ Option |
|---|---|---|
Working Days |
24/5 |
24/7 |
No |
Yes |
|
Phone |
Yes |
Yes |
Online chat |
Yes |
Yes |
Other |
Feedback form. Support is only available to registered users |
Feedback form |
Pocket Option vs IQ Option: Forex Bonuses and Promo
| Promo | Pocket Option | IQ Option |
|---|---|---|
Forex Bonus |
Welcome bonus 50% when opening a real account |
No |
Affiliate Program |
Two types of programs: partner and representative. Commission from profit - up to 80% |
Yes |
Other Promos |
Tournaments with a minimum deposit of 1 USD and a prize pool of 100-250 USD. There are free tournaments |
|
|
|
|
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.
Top 5 Reviews on Pocket Option
-
Comment
One of my Forex expert friends recommended Pocket Option to me. She has been a user for two years. The registration was fast, it took less than two minutes because I linked my existing gmail account. After testing the demo account, I tried to top up my balance and it was good to know that Pocket Option accepts common e-wallets in my country, making it accessible. There was also a limited offer of getting a 50% bonus with a minimum $50 top up, plus a free gift. I decided to transfer $100 as an initial deposit, and was redirected to my e-wallet website. I needed to log in and the amount was converted into our local currency. I checked the real-time exchange and there were no service fees included. After confirming the transfer, the money was reflected quickly. I am quite impressed by how fast and beginner-friendly the process is, especially in my country where online transactions often hit problems.
-
Comment
The Pocket option support is not only for traders using the real account, you can reach out to the customer care if you are a beginner practicing trading on the demo account if you are stuck. The pocket option platform makes it easy to quickly contact support without leaving the trading platform.
-
Comment
I opened an account with Pocket Option in February and was surprised by how easy it is to use the platform. Setting up the demo account was straightforward. It provided access to various trading instruments, such as quick trading, shares trading, forex mt4, and mt5. This allowed me to try different strategies without risking my money. Another thing I liked was the ability to trade popular currency pairs like usdjpy on the demo account, and it comes with a $50,000 balance on the quick trading. There are also indicators like moving averages that are free to use. It helped me understand market movements and execute trades. On the disadvantage, I have observed that demo accounts may not accurately reflect the volatility of live markets. Everyone should be cautious when transitioning to a live account. Overall, Pocket Option demo account is one of the most convenient to use out there but not the most accurate.
-
Comment
pocket option very good plafrom in th world ,quick withdrawal ,friendly support servis is amzing and i most like part is lot of deposite methdos in this platfrom .support servise is amazing .thank you pocket option .my id 54879604
-
Comment
The pocket option trading interface for MT4 trading is simple and really friendly for someone trying Forex trading for the first time. You can easily switch the chart type to lines, candles, bars, etc. I prefer using lines when I want to use the Bolinger bands to know the market's volatility. When you introduce the Bollinger bands into your trade, you notice that your chat line is in between the bollinger bands. Since this tool helps to measure how loud or quiet the market is when the bollinger bands expand the market is loud, meaning volatility is high and when it comes together, the market is going silent. Note that the band lines both the upper and lower band are displayed over the price and measure volatility. You can introduce the moving average to determine the trend.
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.
The area of responsibility of Mikhail includes covering the news of currency and stock markets, fact checking, updating and editing the content published on the Traders Union website. He successfully analyzes complex financial issues and explains their meaning in simple and understandable language for ordinary people. Mikhail generates content that provides full contact with the readers.
Mikhail’s motto: Learn something new and share your experience – never stop!
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.
Olga has extensive experience in writing and editing articles about the specifics of working in the Forex market, cryptocurrency market, stock exchanges and also in the segment of financial investment in general. This level of expertise allows Olga to create unique and comprehensive articles, describing complex investment mechanisms in a simple and accessible way for traders of any level.
Olga’s motto: Do well and you’ll be well!