OctaFX vs IQ Option

OctaFX vs IQ Option Comparison Table 2024
OctaFX IQ Option
4.1
4

OctaFX is an award-winning forex and CFD broker, founded in 2011. The Cyprus-based entity is regulated by the CySEC while the offshore branch is registered with SVGFSA. The ECN broker offers competitive trading conditions on its 80+ financial instruments, with tight spreads from 0.2 pips, fast execution speeds of 0.1 second and flexible leverage. OctaFX also offers two industry-leading platforms in MetaTrader 4 and MetaTrader 5, plus an in-house copy trading solution.

IQ Option is a trusted broker with multi-asset trading on its user-friendly proprietary platform. The broker provides trading on forex, stocks, cryptos, indices, commodities and ETFs with competitive fees and a good suite of extra features and educational content. You can also open an account with just $10.

RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Customer Reviews
5
Bonus Offer
Up to 50% deposit bonus
Comment by Reviewer
"OctaFX is a great pick for traders of all experience levels. Seasoned day traders will appreciate the ECN model with fast execution and tight spreads, while beginners will rate the user-friendly copy trading platform and low minimum deposit." "IQ Option is a good broker for beginners with a slick platform and low minimum investment. New users can also open an account in three easy steps."
Pros
  • Demo account with access to unlimited virtual funds
  • Bonuses and contests available (non-EU)
  • Negative balance protection (Within EU)
  • Comprehensive educational content
  • High Leverage 1:500 (non-EU)
  • Excellent copy trading service
  • No deposit and withdrawal fees
  • Offers Islamic accounts
  • Low minimum deposit
  • Highly rated broker
  • MT4 and MT5 integration
  • Commission-free trading
  • Mobile app compatibility
  • User-friendly platform for beginners
  • Excellent range of payment methods
  • Reliable 24/7 multilingual support
  • Access to IQ Option community
  • High payouts on binary options
  • iOS & Android compatible app
Cons
  • No stock trading
  • Few payment methods
  • Zero pip spreads unavailable
  • The global entity is regulated offshore
  • €10 inactivity fee after 90 days
  • No MetaTrader 4 integration
Awards
  • Most Secure Broker Indonesia 2022- International Business Magazine
  • Best Global Broker Asia 2022- International Business Magazine
  • Best Forex Broker Pakistan 2022- Global Brands
  • Best Forex Broker India 2022- World Finance
  • Best Mobile Trading Platform 2022- FXDailyInfo
  • Best In Class For Social Copy Trading 2022- Forexbrokers.com
  • Best Trading Conditions Asia 2021- World Business Outlook
  • Most Trusted Broker 2017, 2018, 2019, 2020 - BinaryOptions.net
  • Best Binary Broker 2021 - DayTrading.com
Instruments
Forex, CFDs, indices, commodities, cryptocurrencies CFD, Forex, Crypto, Stocks, Digital Options
Demo Account
Yes Yes
Minimum Deposit
$100 $10
Trading Platforms
  • MT4
  • MT5
  • AutoChartist
  • Own
Payment Methods
Minimum Trade
0.01 Lots 0.001 Lots
Regulator
SVGFSA, CySEC
Margin Trading
Yes Yes
Margin Rate
0.2%
STP Account
No No
ECN Account
Yes No
DMA Account
No No
MAM Account
No No
PAMM Account
No No
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
Yes Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
Yes No
Mobile Apps
Yes (iOS & Android) iOS, Android and Windows
App Review

OctaFX offers a user-friendly trading platform that can be used to take positions on major and minor currency pairs. Copy trading is also available via the broker’s in-house mobile application.

IQ Option provide a superbly easy to use mobile app. Offering forex trading, plus some bespoke trading instruments of their own, IQ deliver a slick, secure platform for shorter term trades. Recent upgrades have also synchronised the look and feel of both the web trader and mobile platform, making switching between the two, seamless.

Android App Rating
4.3
4.2
iOS App Rating
4.5
4.3
Auto Trading
Yes
Copy Trading
Yes No
Copy Trading Platform
Copy trading at OctaFX is offered through a proprietary platform and mobile app, as well as integration via the MetaTrader suites. Users can easily diversify portfolios by copying the most profitable traders. Track professionals and their performance live for smart investing, control your portfolio and view how your funds are invested and manage risks in real time.
Social Trading
Yes No
Trade Signals
Yes (EAs)
VPS Hosting
Yes No
Tournaments
No Yes
Demo Competitions
Yes No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$0
Islamic Account
Yes Yes
Account Currencies
  • USD
  • EUR
  • USD
  • EUR
  • GBP
  • ZAR
Stock Exchanges
Commodities
CFD Trading
OctaFX offers leveraged CFDs on popular asset classes spanning forex, indices, commodities and cryptos. Traders benefit from ultra-fast execution speeds, reliable trading tools and zero commissions. There are also no restrictions on strategies, including hedging, scalping and automated trading. IQ Option deals primarily in CFDs, which are available on stocks, forex, cryptocurrencies and several other markets. The leverage available is in line with EU restrictions, to a maximum of 1:30 on major forex pairs but with less available on more volatile assets. Trades are commission-free with floating spreads and clients can use the award-winning platform.
Leverage
1:30 (EU), 1:500 (Global) 1:500
FTSE Spread
1.8
GBPUSD Spread
1.1 1
Oil Spread
0.7 2.3
Stocks Spread
Variable 2
Forex Trading
OctaFX offers leveraged trading on dozens of currencies with competitive spreads that average 0.9 pips on the EUR/USD. Clients also benefit from high-quality research from the team's analysts with insights into forex trends and news events, alongside technical analysis. IQ Option offers CFD trading on 24 forex assets, including major pairs and some minors. EU traders can access a maximum of 1:30 leverage in line with local regulations. The broker offers commission-free trades but spreads are on the high side so the brand does not excel in this area.
Forex App

OctaFX offers a user-friendly trading platform that can be used to take positions on major and minor currency pairs. Copy trading is also available via the broker’s in-house mobile application.

IQ Option provide a superbly easy to use mobile app. Offering forex trading, plus some bespoke trading instruments of their own, IQ deliver a slick, secure platform for shorter term trades. Recent upgrades have synchronised the look and feel of both the Webtrader and mobile platform, making switching between the two, seamless. Try it out via the free demo account.

GBPUSD Spread
1.1 5 pips
EURUSD Spread
0.7 14 pips
EURGBP Spread
2.1 15 pips
Assets
35 60+
Cryptocurrency
Trade 30+ popular digital currencies paired with the USD, including big tokens like Bitcoin and Ethereum. EU traders can access 1:2 leverage while global traders can access rates of up to 1:25 on major tokens. Cryptos can be traded around the clock, including on weekends. IQ Option is a leading crypto broker. They offer multipliers and a huge range of digital currency markets, including Bitcoin, Ethereum, and Cardano. Leverage of up to 1:2 is available with a variable spread and no commission. Newer traders will also rate the intuitive trading software.
Spread
Variable BTC 7%, ETH 12% (Var)
Coins
  • BTC
  • LTC
  • ETH
  • ZEC
  • SOL
  • ADA
  • DOT
  • ATOM
  • LINK
  • AVAX
  • BTB
  • MANA
  • MATIC
  • NEAR
  • IOTA
  • DOGE
  • DASH
  • ALGO
  • AAVE
  • BTC
  • TRX
  • XRP
  • BCH
  • ETH
  • EOS
  • OMG
  • ETC
  • QTUM
  • ZEC
  • LTC
  • DASH
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
Binary options trading not offered IQ Option is a top-rated binary options and digital trading broker. Trade on a user-friendly platform with a low starting deposit. Simply decide whether the price of an asset will go up or down to win a predetermined payout up to 90%+.
Payout
91%
Ladder Options
No Yes
Boundary Options
No Yes
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
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