fx open
iq option
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Overview
fx open was founded in 2019 and is headquartered in Puerto Rico, 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 open serves 60,000+ clients worldwide; iq option has 14,000,000+. Both brokers share the same minimum deposit of $250.
| Feature | fx open | 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-F238 | 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 | 2019 | 2019 |
| Country | Puerto Rico | United States |
| Clients | 60,000+ | 14,000,000+ |
Fees
Fees are a critical factor when choosing between fx open 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 open does not, giving fx open an edge for frequent withdrawers. iq option charges deposit fees; fx open does not. Overall, fx open scores higher on fees in our assessment.
| Feature | fx open | iq option |
|---|---|---|
| Min. Deposit | $250 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
fx open offers MT4, MT5, cTrader, while iq option supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. The two brokers are closely matched on platform offering.
| Feature | fx open | 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 open and iq option compare. fx open runs regular live webinars; iq option does not. fx open has a video library; iq option does not. fx open publishes daily market commentary; iq option does not. fx open integrates third-party research tools (Trading Central); iq option does not. fx open maintains an archive of past webinars for on-demand viewing. fx open scores higher overall in education and research.
| Feature | fx open | 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 open 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 open | 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 open 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 open | 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 |