Plus500 vs IQ Option

If you are reading this article, you are likely having trouble deciding whether Plus500 or IQ Option is the better Forex trading platform for you. While both platforms generally provide positive user experiences, there are some essential differences to note.

In this Plus500 vs IQ Option comparison, we outline the highlights of each trading platform to help you make a more informed decision. We evaluate:

Demo Account:
Feature Plus500 (visit site) IQ Option (visit site)
Plus500 IQ Option
Headquarter: Israel Cyprus
Regulation :
CySEC, FCA, ASIC, FMA, FSB, MAS CySEC
Type of Broker:
Market Maker Binary Options
U.S. Clients Allowed:
Minimum Deposit:
$100 $10
Maximum Leverage:
1:30 N/A
Commissions / Spreads:
Variable Spreads Fixed; Volume Tiered
Account 1:
CFD Real
Account 2:
VIP
Islamic Account:
Segregated Account:
Managed Accounts:
Institutional Accounts:
Website Languages:
  • English
  • Chinese
  • Other
  • English
  • Russian
Support Hours:
24/7 24/7
E-mail Support:
SMS Support:
Chat:
Broker Offers:

Features and Platforms

Plus500 and IQ Option both cater to retail traders from their proprietary trading platforms, available as web traders without support for automated trading solutions. While the former introduces platform features, the latter fails to mention anything about its trading platform, a significant oversight by the management team. IQ Option used to be a binary options brokers, the now-defunct industry mired in frauds and scams. While it continues to offer binary options, it added CFDs to its product portfolio. It does provide a growing list of educational and research videos, appealing to new retail traders who prefer to watch short videos, while Plus500 does not maintain a research department.

Feature Plus500 IQ Option
Type of Platform: Proprietary platform, Web-based Proprietary platform
Platform Languages:
  • English
  • Chinese
  • Spanish
  • Italian
  • French
  • German
  • Other
  • English
OS Compatibility:
  • Windows
  • Mobile
  • Web
  • iPhone
  • iPad
  • Mobile
  • iPhone
  • iPad
Trading Signals:
Charting Package:
Market Analysis:
Chart Trading:
Automated Trading:
Scalping:
Hedging:
Mobile Alerts:
Trailing Stops:
Guaranteed Stop Loss:
Guaranteed Limit Orders:
Guaranteed Execution:
One-click Execution:
Interest on Margin:
Web-based Trading:
Mobile Trading:

Available Markets

More than 2,000 assets give traders at Plus500 an above-average selection. This broker is one of a handful of online brokers that offers options trading and has also expanded into cryptocurrencies. The bulk of assets consists of equity CFDs, but Forex traders have 70 currency pairs to trade. IQ Option maintains significantly fewer assets with only 41 currency pairs and 181 equity CFDs. It does offer 53 binary options, together with just four commodity CFDs, 24 ETFs, but it added 26 cryptocurrencies in an attempt to capture the popularity of this emerging sector. Plus500 offers more trading opportunities from a more competitive trading environment.

Feature Plus500 IQ Option
ETFs:
CFDs:
Commodities:
Metals:
Stocks:
Oil:
Gold:
Binary Options:
Indices:

Typical Spreads and Fees

Both brokers offer commission-free CFD trading and carry above-average spreads on most equities, placing them on par with each other. The EUR/USD at Plus500 showed a 0.8 pip mark-up versus 0.6 pips at IQ Option, granting Forex traders a small advantage on an individual trade basis, which stacks up over the long-term, adding to a notable boost in profitability. Plus500 and IQ Option both levy a $10 inactivity fee, and swap rates apply on leveraged overnight positions. IQ Option does charge a fixed 2.00% withdrawal fee, but predefined maximum costs exist. Despite this charge, overall spreads remain lower at IQ Option, making it more profitable for traders, especially high-frequency ones.

Security and Trust

IQ Option claims over 40,000,000 clients, which would make it the online broker with the highest client count operational today. Two items for traders to consider is that this broker was one of the market-leaders in the binary options industry, which no longer exists after global regulators clamped down on it amid widespread fraud and scams. While IQ Option made the transition, it remains an opaque and unregulated entity operating out of Saint Vincent and the Grenadines. Plus500 had its issues with the UK regulator in 2012 and with investors in 2017, but maintains oversight from seven global regulators and is a publicly listed company in the UK. Therefore, both from a security and trust perspective, it remains well-ahead of IQ Option.

Plus500 vs IQ Option – Verdict

Traders seeking a reliable and trustworthy broker will find a more suitable choice at Plus500 over IQ Option. While neither supports automated trading or the MT4 trading platform, the former offers significantly more trading opportunities due to a broader selection of assets. IQ Option does produce a quick analysis on its website, where its strengths, weaknesses, opportunities, and threats (SWOT) analysis offers traders a fundamental insight. It also maintains a research division, missing at Plus500, and an educational video section. From a cost perspective, IQ Option outranks Plus500. Therefore, new traders must decide between a well-regulated broker in Plus500 versus an unregulated one with IQ Option. While several benefits at the latter are notable, the overall trading environment remains better at the former. Applying the SWOT analysis IQ Option uses for equities, Plus500 offers committed traders more assets, better security, and a more stable broker. IQ Option continues to transition from its binary option past, but the lack of transparency about the company, which led to the downfall of binary options brokers, persists.

Read full Plus500 Review
Read full IQ Option Review

FAQs

Does IQ Option or Plus500 offer lower pricing?

IQ Option has a pricing advantage over Plus500, with the minimum spread at 0.6 pips versus 0.8 pips, respectively. Commission-free CFD trading at both brokers carries above-average mark-ups, placing IQ Option and Plus500 in the same category. Overall, IQ Option manages to offer traders a minor edge, which accumulates over time and trading frequency.

Is IQ Option or Plus500 safer for Forex and CFDs trading?

Despite an FCA fine in 2012 and misleading investors in 2017, London Stock Exchange publicly listed Plus500 maintains a more secure and trustworthy environment. IQ Option, one of a handful of former binary options brokers making the transition to CFDs, remains opaque and unregulated. Clients will trade with a more secure broker in Plus500.

Which trading platform is better: IQ Option or Plus500?

Plus500 and IQ Option only offer their respective proprietary webtrader trading platform, fail to support automated trading, and lack core functions. While Plus500 presents its trading platform, IQ Option fails to do so, and manual traders may have more trading tools, limited as they are, at Plus500.

Which is better, IQ Option or Plus500?

Plus500 presents traders with notably more assets, transparency, and security than IQ Option, which maintains opaque elements from its binary option past. It may appeal to traders due to a growing and active trading community and tournaments. The overall trading environment for committed traders remains ahead at Plus500 as compared to IQ Option.