It takes a lot for a broker and is considered the best broker. IQ Option and ExpertOption are just 2 brokers who have very similar services, but to choose, you have to look deeper.
Regulation
IQ Option is licensed by CySEC and has been since 2014 with the license number 247/14. The company has been around since 2013 and has always held this license for about 6 years to date. The company used to be a subsidiary of Investlab Holdings, but it was rebranded to IQ Option. Meanwhile, ExpertOption is licensed by the Vanuatu Financial Services Commission (VFSC) with the license number 15014. This is an offshore financial regulator, and it is always riskier to deal with offshore brokers.
The best broker in terms of regulation is IQ Option.
Deposit methods
Account funding is necessary for you to trade, and the best broker should give you multiple methods of depositing money. IQ Option has got you covered with all the basic methods of making withdrawals and deposits. You can use your credit/debit card be it Visa or MasterCard as well as Skrill, Neteller and WebMoney. ExpertOption goes even further by adding more funding methods including cryptocurrencies, Perfect Money, QIWI, FasaPay, Yandex Money and Union Pay.
Best broker in deposits is clearly ExpertOption.
Assets available
From the name, it is easy to gather that these brokers both deal with options. Indeed, they do, but IQ Option offers both binary and digital options while ExpertOption only has the latter. Digital options are different in that you get to set a predetermined price in the future in addition to the assumption of price direction. The two brokers will then differ in that IQ Option only has a few options while offering other assets as CFDs. These assets include options, Forex, stocks, commodities, ETFs and cryptocurrencies. ExpertOption also has these assets, but only as binary options.
Therefore, the best broker is IQ Option for adding CFDs.
Trading fees
When making trades with either of these brokers, you don’t get charged any commissions, nor are you charged for deposits and withdrawals. Instead, the brokers make money when you make an incorrect prediction while trading options. Consider using $100 margin on a binary option that guarantees 90% return rates. Upon winning, you gain $90 but a loss means you lose the entire $100. However, when trading CFDs in the case of IQ Option, a spread is imposed that is not too expensive.
Winner is IQ Option.
Trading platforms
Both IQ Option and ExpertOption use their own proprietary software to give clients access to the markets. Similarly, the two brokers have made the trading platforms available on web browser and for download to PC, Mac, iOS and Android. Insofar as the platforms go, they are both very easy to use and powerful enough to allow for in-depth market analysis. However, ExpertOption includes their social trading features that allow traders to copy each other and improve their results.
Best broker in this category is ExpertOption.
Best broker overall
All things considered, IQ Option is the best broker for their balance of services.
