eToro
iq option
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Overview
eToro was founded in 2007 and is headquartered in Cyprus, UK, while iq option was established in 2019 and is based in United States. Both brokers are regulated by Financial Conduct Authority (FCA), among other authorities. eToro serves 20,000,000+ clients worldwide; iq option has 14,000,000+. The minimum deposit is $50 at eToro and $250 at iq option.
eToro
iq option
| Feature | eToro | iq option |
|---|---|---|
| Min. Deposit | $50 | $250 |
| Regulation | Financial Conduct Authority (FCA), Cyprus Securities and Exchange Commission (CySEC) | Financial Conduct Authority (FCA), Australian Securities and Investment Commission (ASIC), Dubai Financial Services Authority (DFSA), Pepperstone Markets Limited is incorporated in The Bahamas (number 177174 B), Licensed by the Securities Commission of The Bahamas (SCB) number SIA-F262 |
| Founded | 2007 | 2019 |
| Country | Cyprus, UK | United States |
| Clients | 20,000,000+ | 14,000,000+ |
Fees
Fees are a critical factor when choosing between eToro and iq option, directly affecting your bottom line as a trader. iq option has a lower barrier to entry with a minimum deposit of $250 (vs $50 at eToro). Both brokers charge withdrawal fees. eToro applies inactivity fees on dormant accounts; iq option does not. iq option charges deposit fees; eToro does not. Overall, eToro scores higher on fees in our assessment.
| Feature | eToro | iq option |
|---|---|---|
| Min. Deposit | $50 | $250 |
| Withdrawal Fees | Yes | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
eToro offers MT4, MT5, cTrader, a proprietary platform, while iq option supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. eToro supports social and copy trading features, which iq option does not offer. eToro edges ahead on platform breadth and functionality in our scoring.
| Feature | eToro | iq option |
|---|---|---|
| MT4 | Yes | Yes |
| MT5 | Yes | Yes |
| cTrader | Yes | Yes |
| Windows App | Yes | Yes |
| iOS App | Yes | Yes |
| Android App | Yes | Yes |
| Trading Platforms | web trader, tablet & mobile apps | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how eToro and iq option compare. eToro runs regular live webinars; iq option does not. eToro has a video library; iq option does not. eToro publishes daily market commentary; iq option does not. eToro integrates third-party research tools (Trading Central, Autochartist); iq option does not. eToro maintains an archive of past webinars for on-demand viewing. eToro scores higher overall in education and research.
| Feature | eToro | iq option |
|---|---|---|
| Forex Education | Yes | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | Yes | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. eToro accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while iq option supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). Both brokers support the same set of payment methods.
| Feature | eToro | iq option |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | Yes |
| Skrill | Yes | Yes |
| Neteller | Yes | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both eToro and iq option offer live chat support. Both provide phone support. Email support is available at both brokers. eToro supports 5 languages and iq option supports 8, giving iq option broader global reach. Both brokers are comparable on support quality.
| Feature | eToro | iq option |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, German, Spanish, French, and Italian | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |