Before you settle on any binary options broker, you ought to conduct a background check on its legitimacy. You also need to compare different binary options brokers and find out which offers the best trading conditions. IQ Option and Experts Option are part of the most popular binary options brokers today. The brokers have managed to carve a name for themselves in the industry. So, how do they compare against each other? This is a short review that seeks to juxtapose the two brokers and make a conclusion on which one is better.
IQ Option is arguably the largest binary options broker today. The platform boasts of over 25 million subscribers on its platform. That is no little feat. It also goes to prove that they must be doing something right. IQ option is headquartered in Seychelles and it is licensed and regulated by CySec. There are three types of trading accounts on IQ Option. The accounts are as follows.
- Demo – This is a virtual account offered free of charge for newbies to get acquainted with binary options trading before they commit and make a deposit.
- Real – This is the basic trading account on IQ Option. You can get one with a minimum deposit of $10. The account can, however, be upgraded to attract more perks by depositing more than $100.
- Premium – This is an advanced account that requires a minimum deposit if $3000. It attracts quite a number of perks, on top of a personal account manager.
IQ Option offers up to 90% profit on investments in payouts. It has over 300 assets that you can trade with too.
Expert Option is a binary options broker based in ST. Vincent and the Grenadines. The brokerage was launched in 2015. It is estimated to have over 8.5 million subscribers as of now. That is an impressive feat considering it is a fairly young binary options broker. The broker is licensed and regulated by the CROFR. It is available in over 150 countries all over the world. The broker does not admit traders from the USA, Canada, Switzerland, Israel and several other countries.
The broker offers five types of accounts. They are;
- Basic – it attracts a minimum deposit of $50
- Silver – it requires a minimum deposit of $500
- Gold – it requires a minimum deposit of $2500
- Platinum – it requires a minimum deposit of $5000
- Exclusive – the account is given through a referral program.
Expert Option offers up to 95% profit on that invested amount in payouts. It has over 100 assets that you can trade with.
Which One is Better?
As mentioned in the introduction one of the most fundamental aspects of a binary options broker, is legitimacy. We always advocate for binary options brokers that are regulated by recognized authorities. Unfortunately, the CROFR is neither known nor respected. That raises questions about the legitimacy of the binary options brokers. Once it cannot be determined whether a broker is legit or not, all the other perks it offers do not hold water. In that regard, IQ Option is the best binary options broker in this case, whether you are a novice or experienced trader. IQ Option is regulated by the respected CySec.
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