Here are two brokers who are direct competitors with what seem to be identical services. What could possibly set them apart? Well, to find out you have to keep reading so as to figure out the most ideal broker among the two.
Regulation
Financial regulation is a must if you want your capital to be secured. Regulation for IQ Option comes from CySEC, which is the most popular financial regulator. The broker’s license number is 274/14 acquired after the broker went live in 2013. This is good regulation as far as retail brokers go, but it doesn’t compare to what Binary.com have got going on -they have a license from 4 different regulators. For their operations in Europe, Binary Investments Europe is licensed by the Malta Financial Services Authority (MFSA) under licence no. IS/70156. Beyond Europe, this broker is also licensed by the Vanuatu Financial Services Commission (VFSC), the British Virgin Islands Financial Services Commission (BVIFSC) and by the Labuan Financial Services Authority (LFSA) in Malaysia.
Therefore, the most ideal broker is Binary.com
Deposit methods
To deposit and withdraw money into and from IQ Option, you get a few options to choose from. These methods include wire transfers, credit and debit cards (Visa, MasterCard) and several electronic wallets such as WebMoney, Skrill (moneybookers), Neteller and AdvCash. Binary.com allow nearly all of these systems except for AdvCash. As an alternative, one can use PayTrust, iWallet, PaysafePerfect Money, FasaPay, Jeton and Yandex Money.
For a regular trader, Binary.com would thus be a more ideal broker.
Assets available
In the way of assets, you will find a lot of similarities where both of these brokers provided services in binary options, Forex and CFDs in metals and other commodities, stocks, cryptocurrencies, etc. Here too, though, it seems like Binary.com went an extra mile to introduce innovative lookbacks. These are a kind of option where investors can predict on past price movements.
All things considered, you find yourself to have Binary.com as the ideal broker.
Fees
Trading has to incur some charges for the broker, and IQ Option charges then through the spreads. Since they offer mainly CFDs, spreads are an effective way of getting charges embedded without charging directly. All in all, these spreads were very low so as to be negotiable and attainable without losing margins. On the other hand, Binary.com uses their own pricing technology to save clients their money.
Binary.com is certainly more enjoyable than IQ Option… pocket wise.
Trading platform
When you finally finish the entire set up process, it’s time to check out the trading platforms. IQ Option have poured everything they have into their own trading platform. This is the same platform they have had since 2013 but it now has plenty of new and innovative features. however, Binary.com did not sleep in your laurels, but they created many different trading platforms. They have platforms for desktop and mobile, whichever you prefer. They are also among the few binary options brokers with MetaTrader 5. Having it provides a comfortable feeling of familiarity.
Once again, we have Binary.com as the clear ideal broker.
Which is the most ideal broker?
The results clearly show Binary.com to be above IQ Option and this, the most ideal broker.
