Etrade
iq option
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Overview
Etrade was founded in 2012 and is headquartered in United States, while iq option was established in 2019 and is based in United States. Etrade holds licences including Securities and Exchange Commission (SEC), while iq option is regulated by Financial Conduct Authority (FCA) among others. Etrade serves 10,000+ clients worldwide; iq option has 14,000,000+. The minimum deposit is $100 at Etrade and $250 at iq option.
| Feature | Etrade | iq option |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Regulation | Securities and Exchange Commission (SEC), Financial Industry Regulatory Authority (FINRA) | 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 | 2012 | 2019 |
| Country | United States | United States |
| Clients | 10,000+ | 14,000,000+ |
Fees
Fees are a critical factor when choosing between Etrade and iq option, directly affecting your bottom line as a trader. Etrade has a lower barrier to entry with a minimum deposit of $100 (vs $250 at iq option). iq option charges withdrawal fees while Etrade does not, giving Etrade an edge for frequent withdrawers. iq option charges deposit fees; Etrade does not. Overall, Etrade scores higher on fees in our assessment.
| Feature | Etrade | iq option |
|---|---|---|
| Min. Deposit | $100 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
Etrade offers MT4, MT5, cTrader, while iq option supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. Etrade supports social and copy trading features, which iq option does not offer. The two brokers are closely matched on platform offering.
| Feature | Etrade | 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 | cTrader, SocialTrading, webPlatform, DesktopPlatform, Proprietary . | 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 Etrade and iq option compare. Etrade runs regular live webinars; iq option does not. Etrade has a video library; iq option does not. Etrade publishes daily market commentary; iq option does not. Etrade integrates third-party research tools (Trading Central); iq option does not. Etrade maintains an archive of past webinars for on-demand viewing. Etrade scores higher overall in education and research.
| Feature | Etrade | iq option |
|---|---|---|
| Forex Education | No | No |
| CFD Education | Yes | No |
| Weekly Webinars | Yes | No |
| Daily Commentary | Yes | No |
| Trading Central | Yes | No |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. Etrade accepts 2 of the tracked payment methods (bank transfer, credit/debit card), while iq option supports 5 (bank transfer, credit/debit card, PayPal, Skrill, Neteller). iq option uniquely supports PayPal and Skrill and Neteller among the two brokers. iq option scores higher on deposit and withdrawal flexibility.
| Feature | Etrade | iq option |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | No | Yes |
| Skrill | No | Yes |
| Neteller | No | Yes |
Support
Responsive customer support matters most when you're locked out of your account or need urgent help with a trade. Both Etrade and iq option offer live chat support. Both provide phone support. Email support is available at both brokers. Etrade supports 2 languages and iq option supports 8, giving iq option broader global reach. Both brokers are comparable on support quality.
| Feature | Etrade | iq option |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, and Chinese | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |