IQ Option vs Binomo

IQ Option or Binomo – which is better for UK traders 2024? Compare IQ Option and Binomo in this detailed breakdown of their platforms, features and fees.

IQ Option vs Binomo Comparison Table 2024
IQ Option Binomo
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4
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3.4
IQ Option is ranked #97 among CFD brokers. Binomo is ranked #11 among binary options brokers.
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.
Binomo has closed or no longer accepts UK clients.
Binomo is a beginner-friendly binary options broker that offers trading on forex, stocks and indices via high/low binary options on a simple web-based platform with payouts up to 90% and reliable service. The firm was launched in 2012 and is based offshore.
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
Pros
  • 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
  • Custom-designed platform that works quickly on mobile devices
  • Demo account available to all with no restrictions
  • Low minimum trade value from $1
  • Competitive payouts up to 90%
  • Thousands of daily traders
  • Low minimum deposit of $10
  • Clear tiered account system
Cons
  • €10 inactivity fee after 90 days
  • No MetaTrader 4 integration
  • Contract expiry times of 1 minute to 1 hour are very short term for many traders
  • Limited extra features with no copy trading
  • Small selection of tradeable instruments
  • Weak regulatory oversight
Awards
  • Most Trusted Broker 2017, 2018, 2019, 2020 - BinaryOptions.net
  • Best Binary Broker 2021 - DayTrading.com
FCA Regulated
No No
Instruments
CFD, Forex, Crypto, Stocks, Digital Options Fixed Time Trades
Demo Account
Yes Yes
Minimum Deposit
$10 $10
Payment Methods
Minimum Trade
0.001 Lots $1
Mobile Apps
iOS, Android and Windows iOS and Android
Trading App

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.

The Binomo app distinguishes itself by offering a comprehensive toolkit, including a risk-free demo account and over 30 analytical tools for technical analysis, ensuring newcomers and seasoned traders can confidently navigate the markets. Moreover, its diverse asset offerings across various markets, coupled with the opportunity to leverage CFDs provides a range of opportunties, all while having access to 24/7 support.

iOS App Rating
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4.3
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4.6
Android App Rating
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4.2
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4.7
Margin Trading
Yes No
Margin Rate
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
No No
STP Account
No 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
No No
Robo Advisor
No No
Negative Balance Protection
Yes No
Market Maker
Yes No
P2P Trading
No No
Spot Trading
No No
Auto Trading
BinomoBot tracks 12 moving and 5 technical indicators and can be set up in than 3 minutes.
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No No
Tournaments
Yes No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$30
Islamic Account
Yes No
Account Currencies
  • USD
  • EUR
  • GBP
  • ZAR
  • USD
  • EUR
Commodities
  • Oil
  • Gold
  • Gold
  • Oil
  • Silver
CFD
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
1:500
GBPUSD Spread<
1
Oil Spread
2.3
Stocks Spread
2
Forex
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. Binomo offers a competitive suit of currencies from majors like EUR/USD to exotics like EUR/MXN. But with contracts spanning 1 minute to 1 hour, the broker is best for short-term forex binary options traders.
Assets
60+ 19
GBPUSD Spread
5 pips N/A
EURUSD Spread
14 pips N/A
EURGBP Spread
15 pips N/A
Cryptocurrency
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. Binomo offers 24/7 fixed time trades on a few major cryptos, including Bitcoin. However this is significantly less than alternatives like Focus Option which offers more than 80 digital tokens.
Spread
BTC 7%, ETH 12% (Var) N/A
Coins
  • BTC
  • TRX
  • XRP
  • BCH
  • ETH
  • EOS
  • OMG
  • ETC
  • QTUM
  • ZEC
  • LTC
  • DASH
  • BTC
  • LTC
  • BCH
  • ADA
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
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%+. Binomo offers binary options trading around the clock, including the weekends. You can speculate on the short-term price movements of popular markets, from stocks to currencies. Payouts are competitive climbing to 90% and contracts start from just 1 minute.
Payout
91% 90%
Expiration Times
1 minute - 60 minutes
Boundary Options
Yes Yes
Ladder Options
Yes No
IQ Option Binomo
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK
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