fx choice
iq option
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Overview
fx choice was founded in 2016 and is headquartered in Australia, 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. fx choice serves 10,000+ clients worldwide; iq option has 14,000,000+. Both brokers share the same minimum deposit of $250.
| Feature | fx choice | iq option |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Regulation | 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-F235 | 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 | 2016 | 2019 |
| Country | Australia | United States |
| Clients | 10,000+ | 14,000,000+ |
Fees
Fees are a critical factor when choosing between fx choice and iq option, directly affecting your bottom line as a trader. Both require a minimum deposit of $250. iq option charges withdrawal fees while fx choice does not, giving fx choice an edge for frequent withdrawers. fx choice applies inactivity fees on dormant accounts; iq option does not. iq option charges deposit fees; fx choice does not. The two brokers are broadly comparable on fee structure.
| Feature | fx choice | iq option |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | Yes | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
fx choice offers MT4, MT5, cTrader, while iq option supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. fx choice supports social and copy trading features, which iq option does not offer. The two brokers are closely matched on platform offering.
| Feature | fx choice | 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 | MT4, MT5, Mac, ZuluTrade, Web Trader, cTrader, 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 fx choice and iq option compare. fx choice runs regular live webinars; iq option does not. fx choice has a video library; iq option does not. fx choice publishes daily market commentary; iq option does not. fx choice integrates third-party research tools (Trading Central); iq option does not. fx choice maintains an archive of past webinars for on-demand viewing. fx choice scores higher overall in education and research.
| Feature | fx choice | 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. fx choice 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 | fx choice | 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 fx choice and iq option offer live chat support. Both provide phone support. Email support is available at both brokers. Both brokers offer support in 8 languages. Both brokers are comparable on support quality.
| Feature | fx choice | iq option |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic |