FXTM and IQ Option Comparison

Correct choice of broker is the first step to success
Posted on 16 September 2020
by
Sam Brodfox
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10 min read
Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

The Forex industry gains popularity among small investors and private traders. The stock market requires high investments, but the Forex trading market is affordable even to the beginners. The brokers attract new traders with low minimum deposits and opportunity to master trading nuances on the demo accounts. Still, there are many other features that should be taken into account when choosing a platform, especially if you decide to deposit real money. In this article, we will compare two well-known brokers — FXTM broker and IQ Option and describe their key characteristics. It will simplify your selection process.
About Brokers
Robinhood logo
ForexTime or FXTM is a well-known international broker that launched its platform in 2011. It provides very attractive trading conditions, complete education and high-quality trading tools in the Forex industry. With its tailor-made products and financial services for each individual market, and with the help of an experienced team of professionals from around the world, FXTM broker has quickly become a globally recognized resource.
Binary.com website homepage
FXTM homepage
IQ Option logo
IQ Option started to work in 2013. Within a short period of time, it has grown from a narrow-profile binary options platform to a large trading and investment resource. It offers an impressive set of alternative services for making profit online and is truly considered one of the great brokers.
IQ Option website homepage
IQ Option homepage
Trading Conditions
Minimum deposit
Minimum deposit
$5
$10
Minimum deal
Minimum deal
0.01pips
$1
Platforms
Platforms
MT4, MT5, MT4 Webtrader, Multiterminal
Own platform
Currencies
Currencies
EUR, USD, GBP
Multi currency and crypto
Trade profitability
Trade profitability
80%
up to 95% — classic contracts
up to 900% — Digital Options
Mobile application
Mobile application
FXTM app
IQ Option app
Customer support channels
Customer support channels
Phone, live chat, email, social media
Skype, phone, email, and online chat
Training
Training
Seminars, video tutorials, e-books, beginner guide
Video course, blog
Analytics
Analytics
Video reviews, forecasts, economic calendar, newsfeed
Available
Affiliate program
Affiliate program
Yes
Yes
Registration Process
According to the FXTM review, the procedure for opening an account with ForexTime is very simple. To do this, you need to go through just a few registration steps and provide identification documents. Your trading account will become available on the same day. The whole process will take a minimum of time and effort. But it is strongly recommended to start with a FXTM demo account.

To register on the IQ Option platform, you need only your real email address and password (you can register filling the form on the website). After that, you get direct access to the trading platform. Demo and real money accounts are available to you. The real account is opened after a $10 deposit, but it is recommended to train on a free demo account first. When you are ready to invest real funds, you will have to go through a verification procedure to avoid any issues with money withdrawals at a later stage.
Platforms
FXTM broker made available several trading platforms to its customers:
  • FXTM MT4 is a convenient terminal containing several dozen technical indicators. You can add your own tools. The program is appropriate for automated trading. Besides the version for a personal computer, there are applications for mobile devices (MAC, iPhone / iPad, Android).
  • MT5 is a multifunctional platform that provides direct access to liquidity providers through ECN and STP technologies. You will have access to a wide range of analysis and trading tools. Those who wish to trade without limiting themselves outside the office or apartment can download applications for MAC, iPhone / iPad, Android.
  • WebTrader is an online service that does not require additional software to work with. It is enough just to have the Internet and a browser. This FXTM trading platform is adapted to all popular operating systems. Simple user-friendly interface, modern and diverse tools.
FXTM MT4 web platform
FXTM Metatrader 4 web platfrom
IQ Option has worked hard to stand out from its competitors. It developed its own platform with a friendly interface. The platform has a fairly extensive selection of trading assets — binary options, cryptocurrency, ETFs, stocks and commodities. And for some countries, IQ Option also provides unique trading tools created specifically for these regions.
IQ Option practice account interface
IQ Option platform
Account Types
FXTM trading company offers 2 main types of trading accounts on its platforms: Standard and ECN.
FXTM account types
FXTM account types
In some locations, the standard account has the following subtypes:
  • Standard. It is characterized by floating spreads, 1:30 leverage, swap-free accounts, risk hedging options.
  • Cent. The conditions do not significantly differ from the standard account, with the only exception — you can make very low "cent" rates. Usually, this option is recommended for beginners right after switching from the FXTM demo version to real money trading.
  • Stock CFDs. Basically, this type of account is designed for trading CFD shares. It does not charge commissions, trading is possible without swaps, leverage is up to 1:10.
All above-described accounts are available only on the basis of the MT4 terminal.

As for ECN, the subtypes will be as follows:
  • FXTM Pro. It is mostly suitable for market professionals. Spreads start from 0, deep liquidity up to level 1 is provided. The account works without commission fees.
  • ECN Zero. It allows you to use investment management of funds, there are limited floating spreads, no commission is charged.
  • Stocks.
Each trade is charged with a commission of 4 USD. Spreads start from 0.1 pips. ECN accounts operate on the basis of the MT4 and MT5 terminals.


IQ Option does not provide its client with such a variety. You can open just two types of accounts – real and VIP. It is very simple to register a real account. You just need to make a click to switch to it from a demo version. Besides, you will have to deposit $10 to activate it.
IQ Option account types​
IQ Option account types
For professionals in binary trading, IQ Option offers to become the owner of a VIP account. The amount of the deposit for obtaining the status is $ 1900. Clients with VIP status receive the following benefits:
  • Trading signals notifications.
  • VIP webinars.
  • Monthly analysis of the client's transactions by a competent employee of the company.
  • Personal manager.
  • Withdrawal of funds within 1 day.
Bonuses
You can access four different bonus categories at FXTM trading platform:
  • Friend Bonus: For each client (referral) you bring, a bonus of $25 is credited to the FXTM platform. To get started with this program, you need a referral link.
  • 10% to 30% Deposit Bonus: This is a location-based bonus that allows users in Asia, Africa, China and the Middle East and North Africa region to receive an additional 30% bonus on their deposits.
  • $30 Bonus: This is a selective cash bonus available only to traders who open and fund their accounts within 6 months.


IQ Option is one of the few open platforms on the forex industry market that hold tournaments for their users. After a simple registration and paying the minimum fee (or sometimes for free), you can compete with other traders in order to hit a fairly impressive prize. The profit is formed from the exchange's own funds and deposits in equal proportions. It is then distributed between the top 30 exchange players.
Mobile Application
Brokerage company FXTM offers mobile trading to potential clients. The existing mobile version of FXTM app allows you to trade with more than 250 instruments. It is a new mobile solution providing lightning-fast trading for iOS or Android. FXTM MT4 download includes unlimited access to MyFXTM as well as cross-platform trading. Its advantage is the absence of additional downloads. There is also the ability to implement trading operations with one click for quick entry into the market.
FXTM mobile app
FXTM mobile app
The IQ Option broker has developed mobile versions for both iOS and Android. The interface of the applications is almost the same as the browser version. Many broker reviews report that in some cases the trading platform reacts even more quickly than the desktop application. The design of the trading platform for mobile devices is very pleasant and the app is multifunctional. You can change the display of the chart (4 types), as well as add indicators (4 pieces) to the chart, or add additional features for technical analysis of trade. That is, IQ Option managed to make an identical trading platform for mobile devices, on which trading is practically no different from trading on a computer.
IQ Option mobile app
IQ Option mobile app
Funds transfer
Both brokers offer a variety of deposit and withdrawal options. It enables users from many countries to find an appropriate payment method for their location.
Credit cards
Credit cards
MasterCard, Maestro and VISA
All banking cards
E-wallets
E-wallets
Skrill, Neteller, DusuPay, FasaPay, DixiPay, WebMoney, CashU, QiWi, Yandex.Money, PerfectMoney
Neteller, Skrill, WebMoney, QiWi, Yandex.Money, PerfectMoney, AdvCash, Astro Pay
Local bank transfers
Local bank transfers
In some countries only
Yes
Cryptocurrency
Cryptocurrency
Bitcoin
Bitcoin
International wire transfers
International wire transfers
Yes
Available
You will find more information about each payment method in your personal account.
You will find more information about each payment method in your personal account.
Customer Support
FXTM broker review says support is available 24 hours a day on business days. You can get in touch with the operator via several channels shown on the official page:
  • By phone: +44 20 3734 1025
  • By Skype
  • Through a callback
  • By email: support@fxtm.com
  • Via online chat
You can also contact the support team in official groups on social networks.


IQ Option is famous for its high-class customer support. There are many ways you can reach the technical team including:
  • Skype
  • Phone: +27 87 550 21 61
  • Email
  • Online chat.
User inquiries are answered fairly quickly. You can also chat with other traders trading on the platform. This feature can be useful when you have a specific question that can be answered by a more experienced trader.
Training
New traders at FXTM will appreciate the extensive library of educational resources. It includes e-books, forex trading webinars and glossaries of general terms. FXTM review admits the broker releases weekly market analysis videos filled with expert advice on new trading strategies.
FXTM webinars schedule
FXTM webinars schedule
IQ Option has a separate educational section called Video training. It contains a lot of video tutorials on working with binary options, technical analysis of the market, money management, as well as using various strategies to predict prices. Besides, you can follow a blog where you can learn about new products in this industry, platform functionality and other novelties. The broker is updating this content regularly.
IQ Option video tutorials library
IQ Option video tutorials library
Affiliate Program
ForexTime Company has launched a unique program for partners, which quickly gained high popularity among its users. Thanks to the new product, webmasters, bloggers, social media account holders, SEO specialists and everyone who wants to get additional income can make money on attracting customers for cooperation with the company. Moreover, cooperation with FXMT is possible within the framework of the IB and CPA partnership programs. In the first case, the partner receives remuneration for the transactions of the attracted clients, in the second case, it is revenue for each attracted client who has started trading in the company.

You can also like the IQ Option affiliate program. It provides an opportunity to earn on the turnover of attracted players. It will be especially interesting to the owners of a website or blog about making money on the Internet or investing, owners of groups on social networks or on a YouTube channel. They can safely post promotional materials attracting unique users to the broker's website and receive passive income. IQ Option referral program helps you get profit for each attracted trader.
Wrapping Up
Both ForexTime and IQ Option keep firm positions among the best Forex brokers. These platforms are good not only for experienced traders but also for beginners. In today's trading industry, many brokers tend to appear better than they really are. But neither ForexTime nor IQ Option will disappoint you. They allow their users small deposits, enough trading tools, versatile payment and support methods, and efficient training. Still, each trader should realize that binary options trading carries a high degree of risk. It is advisable to approach trading responsively and go through educational materials and training on a free account. It will help you avoid significant losses, including the loss of all funds in the account.
A large number of trading accounts.

FXTM minimum deposit is only $5.

Exotic currency pairs.

The ability to buy shares.

Availability of free full-time and part-time educational courses.

Coverage of the payment system commission for account replenishment.

Fast withdrawal of funds.
PROS:
+
+
+
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The minimum deposit is only $10. It allows you to try different strategies without spending large sums.

A good choice of trading instruments.

The platform is very simple, everything is clear even for a beginner.

Convenient payment system allowing deposits and withdrawals via several channels.

Very accessible online help and training system.

Variety of deposit and withdrawal methods.
PROS:
+
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Account currencies: only USD / EUR / GBP

Commission on wd: visa, master card, maestro, paypal, yandex money, qiwi
CONS:
-
-
High risks of binary options with transactions for 1-5 minutes.

Sometimes delays happen during funds withdrawal.
CONS:
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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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