iq option
XM
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Overview
iq option was founded in 2019 and is headquartered in United States, while XM was established in 2009 and is based in Cyprus. iq option holds licences including Financial Conduct Authority (FCA), while XM is regulated by International Financial Services Commission(IFSC) among others. iq option serves 14,000,000+ clients worldwide; XM has 3,500,000+. The minimum deposit is $250 at iq option and $5 at XM.
| Feature | iq option | XM |
|---|---|---|
| Min. Deposit | $250 | $5 |
| 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-F262 | International Financial Services Commission(IFSC), Cyprus Securities and Exchange Commission (CySEC), Australian Securities and Investment Commission (ASIC) |
| Founded | 2019 | 2009 |
| Country | United States | Cyprus |
| Clients | 14,000,000+ | 3,500,000+ |
Fees
Fees are a critical factor when choosing between iq option and XM, directly affecting your bottom line as a trader. iq option has a lower barrier to entry with a minimum deposit of $250 (vs $5 at XM). iq option charges withdrawal fees while XM does not, a notable advantage for frequent withdrawers. XM applies inactivity fees on dormant accounts; iq option does not. iq option charges deposit fees; XM does not. Overall, XM scores higher on fees in our assessment.
| Feature | iq option | XM |
|---|---|---|
| Min. Deposit | $250 | $5 |
| Withdrawal Fees | Yes | No |
| Inactivity Fees | No | Yes |
| Deposit Fees | Yes | No |
| CFD Fees | No | No |
Platforms
iq option offers MT4, MT5, cTrader, while XM supports MT4, MT5, cTrader. Both brokers provide mobile trading apps for iOS and Android. XM supports social and copy trading features, which iq option does not offer. The two brokers are closely matched on platform offering.
| Feature | iq option | XM |
|---|---|---|
| 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, Web Trader, Tablet & Mobile apps |
Education & Research
Education and research tools help traders at every level make more informed decisions, and here's how iq option and XM compare. XM runs regular live webinars; iq option does not. XM has a video library; iq option does not. XM publishes daily market commentary; iq option does not. XM integrates third-party research tools (Trading Central); iq option does not. XM maintains an archive of past webinars for on-demand viewing. XM scores higher overall in education and research.
| Feature | iq option | XM |
|---|---|---|
| Forex Education | No | No |
| CFD Education | No | Yes |
| Weekly Webinars | No | Yes |
| Daily Commentary | No | Yes |
| Trading Central | No | Yes |
| Autochartist | No | No |
Deposits & Withdrawals
Convenient deposit and withdrawal options reduce friction for traders, especially important when managing positions across time zones. iq option accepts 5 of the tracked payment methods (bank transfer, credit/debit card, PayPal, Skrill, Neteller), while XM supports 3 (bank transfer, credit/debit card, Neteller). iq option uniquely supports PayPal and Skrill among the two brokers. iq option scores higher on deposit and withdrawal flexibility.
| Feature | iq option | XM |
|---|---|---|
| Bank Transfer | Yes | Yes |
| Credit Card | Yes | Yes |
| PayPal | Yes | No |
| Skrill | Yes | No |
| 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 iq option and XM offer live chat support. Both provide phone support. Email support is available at both brokers. iq option supports 8 languages and XM supports 20, giving XM broader global reach. Both brokers are comparable on support quality.
| Feature | iq option | XM |
|---|---|---|
| Live Chat | Yes | Yes |
| Phone Support | Yes | Yes |
| Email Support | Yes | Yes |
| Languages | English, Spanish, Polish, Chinese, Japanese, Korean, Vietnamese, and Arabic | Arabic, Chinese, English, French, German, Greek, Hindi, Hungarian, Indonesian, Italian, Japanese, Korean, Malay, Polish, Portuguese, Russian, Spanish, Swedish, Thai, and Turkish |