Quotex vs IG - Fees Review included
Which broker is better Quotex or IG? Our expert assessment conducted according to TU’s own methodology showed that Quotex is one of the top brokers in the financial market with the TU Overall Score of 7.76 out of 10. IG is one of the top brokers in the financial market with the TU Overall Score of 6.68 out of 10. Find out more about TU Overall Score.
| Feature | Quotex | IG |
|---|---|---|
Overall |
2.8 |
4.4 |
1 |
4.7 |
|
3.3 |
4.7 |
|
3.1 |
5 |
|
Investment Instruments |
1 |
3.9 |
Platforms and Charting Tools |
3.9 |
4.7 |
Deposit and Withdrawal |
4.6 |
4.0 |
Research |
1.5 |
4.5 |
Education |
2.3 |
4.2 |
Support |
3.0 |
4.8 |
Bonuses |
3.8 |
3.4 |
|
|
Quotex vs IG: Pros and Cons
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
The Forex broker IG Markets is a structural subdivision of the IG Group corporation. Its securities are listed on the London Stock Exchange and are included in the FTSE 250 index. IG Markets is a UK registered company created in 1974, but since its inception, its representative offices have appeared in some other European countries. Since 2014, a retail line of brokerage services has been opened. The international division of the broker is registered in Bermuda and licensed by the Bermuda Monetary Authority
| Quotex | IG | |
|---|---|---|
| Overall Pros | Affordable minimum investment amount – USD 10 | reliability. IG Markets is part of the IG Group, founded in 1974. Its subsidiaries are also licensed by the British regulator FCA, the Monetary Authority of Singapore (MAS), and the American regulators CFTC, and NFA |
| No trading fees and no deposit, withdrawal and account fees | 16,000 trading instruments, investments in IPOs and exchange-traded funds | |
| Algorithmic trading is technically impossible | relatively good spreads, from 0.6-1 pips depending on the type of instrument | |
| customer support is 24/7 | ||
| Overall Cons | No Regulatory License | high threshold of entry which discourages private novice traders |
| complicated and unpleasant verification procedure. There are cases of refusal to open an account due to unconfirmed or low income | ||
| there are no products for passive investment, no bonus system is provided | ||
| a limited set of options for depositing and withdrawing money, which is not very convenient for global Forex traders |
Quotex vs IG: Safety and Regulation
| Regulated By: | Quotex | IG |
|---|---|---|
US Regulation |
No |
Yes (CFTC, NFA) |
FCA (Great Britain) |
No |
Yes |
CySec (Cyprus, EU) |
Yes |
No |
ASIC (Australia) |
No |
No |
Other Regulators |
No |
BMA (Bermuda), MAS (Singapore) |
Quotex vs IG: Trading Conditions
| Trading Conditions | Quotex | IG |
|---|---|---|
Minimum Deposit |
$10 |
$450 |
Trading Platforms |
Own platform |
MT4, IG Trading Platform, L2 dealer |
Max Leverage (Futures) |
Not provided technically |
1-200 |
Supported Markets |
Currencies, raw materials, stocks |
Forex, Crypto, commodities |
Trading assets |
80+ |
16000+ |
Trading Accounts |
Single account for binary options trading |
Demo, Standard |
Base Account Currencies |
USD, EUR, GBP, BRL, IDR, MYR, INR, KZT, RUB, THB, UAH, VND, NGN, MXN, EGP |
USD |
Quotex vs IG: Fees
Forex Trading Fees
| Fee | Quotex | IG |
|---|---|---|
Standard Account EURUSD Average Spread |
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 |
0.6 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 | Quotex | IG |
|---|---|---|
CFD Trading Fee |
Reward - 15-90% |
Floating spread |
Non-Trading Fees
| Fee | Quotex | IG |
|---|---|---|
Account Fee |
No |
No |
Deposit Fee |
No |
No |
Withdrawal Fee |
No |
No |
Inactivity Fee |
No |
$18 per month after 24 months of inactivity |
A conversion fee may be applied as withdrawals and deposits are conducted in USD. Any other currency will have to be converted.
Quotex vs IG: Trading Assets
| Asset Name | Quotex | IG |
|---|---|---|
Overall |
80+ |
16000+ |
Forex |
Yes |
Yes |
Stocks |
Yes (CFD) |
No |
Metals |
Yes (CFD) |
Yes (CFD) |
Cryptocurrencies |
No |
Yes (CFD) |
Energy |
Yes (CFD) |
Yes (CFD) |
Indices |
Yes (CFD) |
No |
ETFs |
No |
Yes |
Bonds |
No |
No |
Mutual funds |
No |
No |
Stock options |
No |
No |
Futures Trading |
No |
No |
Binary Options |
No |
No |
Quotex or IG: Investment Programs
| Asset Name | Quotex | IG |
|---|---|---|
Copy Trading |
No |
No |
MAM/PAMM |
No |
No |
Managed Accounts |
No |
No |
Other |
No |
Investing in IPOs |
Trading Platforms: IG or Quotex
| Quotex | IG | |
|---|---|---|
MT4 |
No |
Yes |
MT5 |
No |
No |
cTrader |
No |
No |
Appropriate platform |
No |
IG Trading Platform |
Others |
Own trading platform |
L2 dealer |
|
|
Quotex vs IG: Deposit and Withdrawal Methods
| Deposit and Withdrawal Method | Quotex | IG |
|---|---|---|
Bank Transfer |
No |
Yes |
Debit Card |
Yes |
Yes |
Electronic Wallets |
Yes |
No |
Crypto |
Yes |
No |
Quotex vs IG: Research
| Research Type | Quotex | IG |
|---|---|---|
News Feed |
No |
Yes |
Fundamental Data |
No |
Yes |
Chart Analysis |
No |
Yes |
Trading Ideas |
Yes |
No |
E-Mail Reports |
No |
No |
Quotex vs IG: Education
| Education Type | Quotex | IG |
|---|---|---|
Demo-account/Paper Trading |
Yes |
Yes |
Webinars |
No |
Yes |
Articles |
No |
Yes |
Videos |
No |
Yes |
Cent account |
No |
No |
IG vs Quotex: Support
| Support Features | Quotex | IG |
|---|---|---|
Working Days |
24/7 |
24/7 |
No |
Yes |
|
Phone |
No |
Yes |
Online chat |
No |
Yes |
Other |
Feedback form |
No |
Quotex vs IG: Forex Bonuses and Promo
| Promo | Quotex | IG |
|---|---|---|
Forex Bonus |
Welcome bonus 30% when opening a real account. Cashback, bonus for using "deal cancellation" |
No |
Affiliate Program |
Yes. Payouts up to 80% of income or up to 7% of referral turnover |
"Invite a friend". The partner receives $100 for each attracted referral who must carry out 5 transactions of the corresponding volume (possibly, 5 lots are implied) within 6 months. |
Other Promos |
No |
|
|
|
Top 5 Reviews on IG
-
Comment
It’s a decent company, I do most of my trading here, but I have an account with another company. There are no particular complaints. If you know how to trade, I can confidently recommend IG Markets.
-
Comment
Personally, what attracts me the most is the access to options with a low deposit at IG Markets broker. However, everything comes with a price: commissions and premiums are higher compared to companies with higher margin requirements. By the way, with a minimum deposit of $200 for options, you won't get much leverage. So, to feel more comfortable, you need to deposit at least 10 times more money into your account.
-
Comment
I can briefly share my experience. Overall, if you don't dwell on withdrawal issues, everything is fine. I withdraw funds to my card or in USDT almost every month. Initially, I had doubts about IG Markets, but after several consistent withdrawals to my card, I started to trust them more. Although the profit is not that great because the amount constantly circulates in the balance: I deposit, trade, withdraw profit. But I enjoy the trading process itself, so I have no complaints about IG Markets broker.
-
Comment
I have recently explored IG Markets. My first impressions are positive. I had a lot of questions and contacted the support service. I was pleasantly surprised, since all questions were explained to me promptly and in full. Working is convenient, the IG Markets website is informative, and the platform has a lot of trading tools for every taste. In general, I am satisfied. I hope everything will be just as good.
-
Comment
I've known the broker IG Markets for several years. I started trading here when I had no experience with currency pairs. Over time, I gained experience and stopped losing my money. IG Markets is not my primary broker. I maintain a smaller deposit here compared to another company where the conditions are better. However, the first broker is the first broker, and I don't want to leave it.
Top 5 Reviews on Quotex
-
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!
-
Comment
Quotex platform is user friendly, easy to trade, simple view with Options quite clear for better understanding for beginners as well. Almost all the valuable currency pairs are available with commodities. Even the indicators sections have a variety of options. One of the best things I have found is deposits and withdrawals are fast.
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.