eToro vs IQ Option
eToro or IQ Option – which is better for UK traders 2024? Compare eToro and IQ Option in this detailed breakdown of their platforms, features and fees.
eToro | IQ Option |
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eToro is ranked #14 among CFD brokers. | IQ Option is ranked #97 among CFD brokers. |
eToro is a top-rated multi-asset platform which offers trading services in thousands of CFDs, stocks and cryptoassets. Launched in 2007, the brand has millions of active traders globally and is authorized by tier one regulators, including the FCA and CySEC. The brand is particularly popular for its comprehensive social trading platform. Cryptoasset investing is highly volatile and unregulated in the UK and some EU countries. No consumer protection. Tax on profits may apply. 76% of retail CFD accounts lose money. |
IQ Option has closed or no longer accepts UK clients.
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. |
76% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. | RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK |
Pros | |
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Cons | |
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Awards | |
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FCA Regulated | |
Yes | No |
Instruments | |
CFDs, Forex, Stocks, Indices, ETFs, Smart Portfolios, Commodities, Futures, Crypto, NFTs | CFD, Forex, Crypto, Stocks, Digital Options |
Demo Account | |
Yes | Yes |
Minimum Deposit | |
$50 | $10 |
Payment Methods | |
Minimum Trade | |
$10 | 0.001 Lots |
Regulator | |
FCA, ASIC, CySEC, FSA, FSRA, MFSA | |
Mobile Apps | |
iOS & Android | iOS, Android and Windows |
Trading App | |
eToro bring their social trading platform to your mobile, enabling you to copy trades, manage your account and invest via Android or iOS. Trade the key forex pairs from the palm of your hand. |
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. |
iOS App Rating | |
Android App Rating | |
Margin Trading | |
Yes | Yes |
Margin Rate | |
1% | 0.2% |
MetaTrader 4 | |
No | No |
MetaTrader 5 | |
No | No |
cTrader | |
No | No |
AlgoTrader | |
No | No |
OmniTrader | |
No | No |
TradingView | |
No | No |
Autochartist | |
No | No |
eSignal | |
No | No |
Trading Central | |
Yes | No |
STP Account | |
Yes | No |
ECN Account | |
No | No |
DMA Account | |
No | No |
MAM Account | |
No | No |
PAMM Account | |
No | No |
LAMM Account | |
No | No |
Demat Account | |
No | No |
AI / Machine Learning | |
Yes | No |
Robo Advisor | |
No | No |
Negative Balance Protection | |
Yes | Yes |
Market Maker | |
Yes | Yes |
P2P Trading | |
No | No |
Spot Trading | |
Yes | No |
Auto Trading | |
Automate your trades via CopyTrader - follow profitable traders. Open and close trades automatically when they do. | |
Copy Trading | |
Yes | No |
Copy Trading Platform | |
eToro continues to deliver one of the best proprietary copy trading platforms on the market, at no additional cost for eToro clients. The web-based platform features a user-friendly and interactive layout and also comes with a community chat, making it a stand-out choice for beginners. | |
Social Trading | |
Yes | No |
Trade Signals | |
Yes | |
VPS Hosting | |
No | No |
Tournaments | |
No | Yes |
Demo Competitions | |
No | No |
Ethical Investing | |
Yes | No |
Custodial Account | |
No | No |
Guaranteed Stop Loss | |
No | No |
Inactivity Fee | |
$10 | |
Islamic Account | |
Yes | Yes |
Account Currencies | |
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Commodities | |
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CFD | |
You can trade CFDs on over 3,000 assets and access rich market data through the integrated TradingView charts. There are also comprehensive free learning tools available for beginners via the eToro Academy, including dedicated CFD trading courses and guides. | 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 | 1:500 |
FTSE Spread | |
1.5 | |
GBPUSD Spread< | |
1.9 | 1 |
Oil Spread | |
0.05 | 2.3 |
Stocks Spread | |
0.57 (Apple) | 2 |
Forex | |
An above-average selection of 55 currencies are available with reasonable spreads averaging 0.9 pips on EUR/USD during peak hours. Aspiring traders can continuously hone their forex strategies by switching between demo mode and their live account any time, with full access to the broker's 100+ technical indicators. | 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. |
Assets | |
55 | 60+ |
GBPUSD Spread | |
1.9 | 5 pips |
EURUSD Spread | |
0.9 | 14 pips |
EURGBP Spread | |
1.3 | 15 pips |
Currency Indices | |
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Cryptocurrency | |
eToro leads the way in cryptocurrency trading, offering competitive spreads and a fixed 1% commission, plus their own wallet service. The broker offers a vast list of tokens which is continually being updated. Don’t invest unless you’re prepared to lose all the money you invest. | 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 | |
BTC 1% | BTC 7%, ETH 12% (Var) |
Coins | |
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Crypto Lending | |
No | No |
Crypto Mining | |
No | No |
Crypto Staking | |
Yes | No |
Auto Market Maker | |
No | No |
eToro | IQ Option |
76% of retail investor accounts lose money when trading with this provider. eToro is a multi-asset investment platform. The value of your investments may go up or down. Your capital is at risk. | RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK |
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