IQ Option vs. Pocket Option – Which one is better?
Two of the most loved online trading platforms, IQ Option and Pocket Option, have tough competition among themselves. These two online trading platforms are a few of the newest brokers in the market, attracting many traders to join them.
Comparing IQ Option vs. Pocket Option can be challenging, but it is not impossible. Here, we will assess these two online trading platforms based on some factors and decide which one among these two is the best.
What you will read in this Post.
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
IQ Option vs. Pocket Option comparison chart.
Basis IQ Option Pocket Option Demo account Yes Yes Minimum deposit $10 $50 Minimum withdrawal $2 $10 Assets 200+ 100+ Deposit and withdrawal methods Credit cards, debit cards, bank transfers, electronic payments Credit cards, debit cards, bank transfers, electronic payments Regulation CySEC IFMRRC Mobile trading Yes Yes Copy trading No Yes.
It can be complicated to distinguish between the two leading online trading platforms. But, these factors can help us find the best broker in IQ Option vs. Pocket Option comparison .
Demo account.
A demo account is of paramount importance in our IQ Option vs. Pocket Option discussion. Sometimes, a demo account is the sole factor that helps a trader judge whether he should sign up with a broker or not.
A demo account is significant because it lets the traders learn the trading basics. For example, if you are a beginner, you will first look for an online trading platform that can teach you how to trade. A demo account will come to your aid and rescue you from this situation.
If you wish to plan or change your trading strategy, a demo account is what you will need. You can do all the trading on your demo trading account with virtual currency to let you learn fearlessly without losing your funds .
You can sign up for an IQ Option demo account and access all the features. You can trade with an IQ Option demo account as if you were trading through a live trading account.
Even Pocket Option lets its users join the demo trading account community and learn what they don’t know. The signup process for both IQ Option and Pocket Option demo accounts is simple and does not involve any hassle.
From this perspective in IQ Option vs. Pocket Option , both IQ Option and Pocket Option seem viable options for beginners and professional traders.
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Minimum deposit.
Another crucial thing that a trader bears in mind while selecting a suitable online trading platform is the minimum deposit amount.
Since most beginners are skeptical about investing a huge part of their savings, they look for a broker with a low minimum deposit amount. A minimum deposit is an amount you will need to deposit in your IQ Option or Pocket Option live trading accounts to get started with trading.
IQ Option comes with the lowest minimum deposit amounts. With only $10 , you can begin your trading journey with IQ Option.
On the flip side, a trader must fund his online trading account with Pocket Option by at least $50. The minimum deposit amount of Pocket Option is higher than that of IQ Option.
From the point of the minimum deposit amount in IQ Option vs. Pocket Option comparison, IQ Option seems like a better choice for the users than Pocket Option.
Pocket Option has a minimum deposit amount four times higher than IQ Option.
Minimum withdrawal amount.
The minimum withdrawal amount is also one main concern of the investors. A high minimum withdrawal amount is a deterrent to attracting investors.
If a broker has a high withdrawal deposit, traders avoid signing up with him because they don’t wish for their funds to get stuck.
If you have a $30 in your trading account , and the minimum withdrawal amount is $100, you will not be able to take out that $30 from your account.
Even if you do, you might have to pay a withdrawal fee to the broker for withdrawing money below the minimum withdrawal amount. No trader would want to share a part of these profits with the broker. And this situation is particularly unpleasant when you need your funds.
IQ Option does not place many restrictions on the minimum withdrawal amount. You can withdraw a minimum of $2 from your IQ Option trading account and go as higher as you wish.
For Pocket Option withdrawals, a trader needs to submit a request for a minimum of $10.
Thus, we can spot the huge difference between the minimum withdrawal amounts for IQ Option and Pocket Option. Based on this analysis, IQ Option is the better choice for the traders.
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Assets.
These days’ traders look for a broker who offers them multiple trending assets to trade. After all, a trader wishes to diversify his portfolio to avoid any possibility of losses.
A leading online trading platform will offer you all the top assets to trade in the market. You can have your pick from binary options, CFDs, stocks, indices, commodities, etc.
At IQ Option, you can enjoy binary options, CFD trading, and many other leading assets that can fetch you high profits. There are over 200 different assets in different markets on IQ Option.
Pocket Option also offers over 100 hundred assets to the traders in which they can invest to diversify their portfolios.
You can join any of these two online trading platforms if you find that they offer your favorite assets to trade. However, you can find more assets on IQ Option than on Pocket Option.
Deposit and withdrawal methods.
You don’t wish to witness the unpleasant experience of getting stuck in the middle ground when you can’t fund your live trading account with funds . It is troublesome for the investor as it makes him vulnerable to losing the opportunity of placing a good trade.
It is where the multiple deposits and payment methods help the investor. If a trader cannot fund his live trading account with one payment method, he can use another to deposit funds and avoid missing any trade.
Therefore, a trader desires a binary broker who allows him to use multiple payment methods.
IQ Option is among those brokers who are at the top because it lets the traders use their credit cards, debit cards, bank transfers, and electronic wallets to deposit and withdraw funds.
Similarly, Pocket Option also allows the users to deposit and withdraw funds from their trading account using similar payment methods as IQ Option .
Since both online trading platforms allow users from multiple payment methods, both IQ Option and Pocket Option seem like good choices for the traders.
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Regulation.
One of the factors that a trader should consider before choosing a broker is whether any regulatory body watches over the broker’s functioning.
In the absence of any regulatory body, a broker can follow bad practices and scam the investors . The good news is that both IQ Option and Pocket Option are reliable brokers because both perform within the purview of a regulatory body.
The International Financial Markets Relation Regulation Center (IFMRRC) licenses and oversees that Pocket Option does not overstep its bounds. It holds Pocket Option answerable for its action, thus protecting the investors from fraud.
On the other hand, Cyprus Securities and Exchange Commission (CySEC) sees that IQ Option operates within the legal purview.
Since CySEC and IFMRRC regulate these two brokers, it makes joining either one of them safe.
Mobile trading.
Mobile trading is what a trader looks for because of its convenience. A trading mobile application does away with the hassle of carrying a laptop or missing out on crucial trades because of the lack of access.
These days, almost every trader has a smartphone in which he can install a mobile trading application to trade on the go. He looks for a broker who offers him the ease to trade anytime on the go .
IQ Option has its own mobile trading application that a trader can download from the app store or the Google play store.
Even Pocket Option has a mobile application that a trader can use to trade anytime and anywhere after downloading it on his iPhone or Android phone.
Mobile trading applications are available for both IQ Option and Pocket Option . Thus, a trader can download any of these mobile applications as both have modern and top-class features.
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Copy-trading.
If you are not so sure of your trading skills, you would want to get the help of some expert and professional traders. Copy trading is the feature that allows you to do that.
Using this feature, you can access the trades of the top traders and copy them to maximize your online gains.
IQ Option does not support the copy trading feature, making it difficult for learners and newcomers to make profits. If you wish to trade on IQ Option, you will have to build your own knowledge and expertise to build wealth.
On the flip side, Pocket Option does allow its users to copy the trade of other traders in the market.
Pocket Option is better than IQ Option based on the copy trading feature in IQ Option vs. Pocket Option comparison.
Conclusion.
Every trader has different needs, and he selects a broker based on his needs. If you are confused about IQ Option vs. Pocket Option, these differences will help you sort things out.
IQ Option turns out to be a viable option for the brokers in many things. However, Pocket Option does offer the users some unmatched trading features . Hence, after going through this overview, you can choose one from IQ Option and Pocket Option, depending upon your needs.
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
