FXCM
iq option
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Overview
FXCM was founded in 1999 and is headquartered in United States, 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. FXCM serves 10,000+ clients worldwide; iq option has 14,000,000+. The minimum deposit is $1 at FXCM and $250 at iq option.
| Feature | FXCM | iq option |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Regulation | Financial Conduct Authority (FCA) | 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 | 1999 | 2019 |
| Country | United States | United States |
| Clients | 10,000+ | 14,000,000+ |
Fees
Fees are a critical factor when choosing between FXCM and iq option, directly affecting your bottom line as a trader. FXCM has a lower barrier to entry with a minimum deposit of $1 (vs $250 at iq option). iq option charges withdrawal fees while FXCM does not, giving FXCM an edge for frequent withdrawers. iq option charges deposit fees; FXCM does not. Overall, FXCM scores higher on fees in our assessment.
| Feature | FXCM | iq option |
|---|---|---|
| Min. Deposit | $1 | $250 |
| Withdrawal Fees | No | Yes |
| Inactivity Fees | No | No |
| Deposit Fees | No | Yes |
| CFD Fees | No | No |
Platforms
FXCM 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 | FXCM | 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, Mirror Trader, Web Trader, NinjaTrader, 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 FXCM and iq option compare. FXCM runs regular live webinars; iq option does not. FXCM has a video library; iq option does not. FXCM publishes daily market commentary; iq option does not. FXCM integrates third-party research tools (Trading Central, Autochartist); iq option does not. FXCM maintains an archive of past webinars for on-demand viewing. FXCM scores higher overall in education and research.
| Feature | FXCM | 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. FXCM 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 | FXCM | 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 FXCM and iq option offer live chat support. Both provide phone support. Email support is available at both brokers. FXCM supports 2 languages and iq option supports 8, giving iq option broader global reach. Both brokers are comparable on support quality.
| Feature | FXCM | 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 |