Choosing a good CFD company is a very important way to a good trading strategy. Today we will compare point by point two of the most popular, since they work in most popular countries and they have so many people registered from all the corners of the Earth. So let’s start talking about these guys.
In terms of popularity, it is clear that Plus500 has the upper hand. This platform is based on a very solid company that is listed on the London Stock Exchange. For its part, IQ Option has gained ground in recent years mainly due to the wide range of binary options it offers, although in Europe today it is limited only to CFDs.
Main comparison between IQ Option and Plus500
- Plus500 was founded 5 years before IQ Option, being Plus500 from 2008 and IQ Option from 2013.
- The spread that is handled in IQ Option is medium, while that of Plus500 is very competitive.
- IQ Option has approximately 300 assets on its platform. Plus500 today exceeds 2000.
- Regarding CFD shares, IQ option handles an approximate of 169, while Plus500 surpasses the 1000 barrier.
- Plus500’s minimum deposit is $ 100, while IQ Option’s is $ 10.
- The minimum Plus500 trade depends on the asset being handled. The IQ Option allows you to make investments from 1 dollar.
- IQ Option has better user support options than Plus500. What’s more, IQ Option has a training video to familiarize yourself with the platform.
- Plus500 has the Trailing Stop option to minimize investment risks. IQ Option does not have it.
If we look at the comparison, it is clear that Plus500 has a higher level of competitiveness in different areas, mainly in terms of spread, number of tradable assets and time of experience in the market.
However, IQ Option offers a very important advantage, which is the option of requesting a minimum deposit of 10 dollars and in turn having the possibility of operating trading from a minimum of 1 dollar. That is, we can start investing in this platform with an investment of only 1 dollar.
Remember that here you can purchase the Plus500 Demo without the need for a deposit. You can also try the IQ Option Demo totally free.
IQ Option place
We can access here with 3 modalities:
- Downloadable client
- Mobile App
Both the web version and the downloadable platform are for computers and very similar. Perhaps the biggest difference is the level of speed and stability offered by their client.
For its part, you can download it on any comfortable device.
All three versions are self-produced and very attractive, to the point that a few years ago they were awarded the “Award of Excellence”, an important recognition within this field.
How does IQ Option work?
Inside you will be able to speak with the different users and see all the news and publications, which are very important within the site itself.
Their site is, therefore, very intuitive in most of its tools, with exceptions such as the FX options designed for more specialized people.
We can access Plus500 through 3 modalities:
- Downloadable platform for Windows 10
- All the versions of applications.
The experience in the sector that Plus500 handles is shown from its platform, since it turns out to be very clear and one of the most organized in the sector.
However, you lose the pulse with IQ Option by not having options such as chat, free technical analysis and tutorials.
This, as we have explained before, is due to the fact that the Plus500 public is looking to already have a background in the subject of trading, to the point of considering themselves an expert who does not need to watch videos or chat with other people.
This decision of the platform is highly appreciated by its users, since it allows access to technical analyzes that are at a higher level.
This platform then turns out to be friendly, pleasant and easy to use. The steps to execute an order are extremely simplified and allow you to perform actions in a few seconds.
What we can be sure of is that technical analysis at a higher level is highly appreciated by users. In fact, to meet this need, the platform was recently implemented with economic calendars.
Anyway, the similarity between IQ Option and Plus500 is in the handling of a very nice looking and easy to use platform. In Plus500, for example, we can search for an asset and execute an order with very few steps and all in a few seconds.
They are regulated fully officially and they have all the rights for that.
Their primary registration is identified with the n.247 / 14. Similarly, this platform is registered by the Spanish National Securities Market Commission (CNMV).
This site has been working for 8 years already and firstly it appeared in the world, but they from the start worked for all the countries like now. The platform has been very well received, to the point that today about 30 millions people use it from different countries.
Plus500 has the regulated approval in Spain and Europe thanks to the CySEC, where it has the license with identification no. 250/14. Additionally, it is watched by the great service from the government of Great Britain and England.
They have been working for 12 years already. The success of this platform has allowed it to be listed on the London Stock Exchange today and to reach 300,000 clients everywhere and from any country.
IQ Option minimum deposit
Whoever wants to try these guys site, will be able to start for just $ 10. It works for everybody in the same way, so nobody will be left alone.
As if that were not enough, the minimum investment to start operating an asset is 1 dollar. That is, of the 10 dollars that we enter our account, a single dollar is enough to open a trading position.
This option is ideal for those who want to start investing real money but do not yet feel confident to put large sums of money at stake.
In turn, it allows both large entrepreneurs and people with little capital to work here and start activities without any loss.
Minimum deposit Plus500
Here this thing is 100 dollars, both for the initial and for the following.
The main difference with IQ Option is that Plus500 directs its platform to clients who want to obtain tangible and significant results in their own statistics.
How little you can invest depends on the asset to be maneuvered and the financial leverage, which is a maximum of 1:30 for minority accounts.
How can you take off your treasures
You can take hre money here from $ 2. Normally, there are no changes in the processes of deposit and this one, so everything will be done in a little time.
You can withdraw money through casual ways, like in any service, because nowadays they are similar, since people use the most popular wallets or bank services.
The bank transfer option will likely include charging a small fee.
Plus500 does not use fees to withdraw the money, and allows you to perform this action for free 5 times throughout the month. If you want to make more withdrawals, the platform will take a commission of 10 dollars each time.
The time for this request goes in a period of 1 to 3 days, being the process more agile with credit and debit cards. However, there is the option of making a withdrawal through electronic wallets and bank transfer.
IQ Option tradable assets
Within IQ Option we can trade CFDs on:
- Forex: 49 currency pairs. There you will find only the most popular things for everybody and all over the world.
- Shares: 169
- Cryptocurrencies: 12, These are the Bitcoin, Bitcoin Cash, OmiseGo, Dash, Ripple, Litecoin, Tron, Ethereum Classic, Qtum, Ethereum, Zcash and EOS.
- Commodities: 5. This includes WTI Crude Oil, Gold, Brent Oil, Platinum, and Silver.
- Funds: 25
- FX options: 8 currency pairs
Marketable assets Plus500
Within Plus500 we can trade CFDs in:
- Forex: 70 currency pairs
- Shares: more than 1,000. These come from all over the world, especially from Spain and the United States.
- Cryptocurrencies: 12. Here are Bitcoin, Litecoin, NEO, IOTA, Stellar, EOS, Bitcoin Cash, Tron, Cardano, Monero, Ripple XRP and Ethereum.
- Raw materials: 22. It covers the main ones, among which are some metals, energy sources and food products.
- ETF: 100
- Options: numerous Put and Calls in 25 shares
A peculiarity of Plus500 is that we can open up or down positions on Put (bearish) and Call (bullish) options in various assets within the platform.
Spread and Overnight
Spread IQ Option vs. Plus500
It is definitely important to say that the spreads applied by IQ Option are variable and its competitiveness category is medium. If we take a spread of both companies one day, taking into account the same minutes in both, we can find the following differences:
- The variation of Euros EUR to Dollars USD is 1.8-2.1 pips on IQ Option compared to 0.6 pips on Plus500.
- The variation of Dollars USD to Yen JPY is 1 – 1.1 pips on IQ Option compared to 0.7 pips on Plus500
- The change in GBP to USD Dollars is 2.5 – 3 pips on IQ Option vs. 0.9 pips on Plus500
- The change from Euro EUR to British Pound GBP is 2.4 – 2.6 pips on IQ Option versus 1.5 pips on Plus500.
- The change from Euro EUR to Yen JPY is 2-2.2 pips on IQ Option versus 1.5 pips on Plus500.
- IQ Option’s spread is medium and Plus500’s is low.
In short, in the Forex palace, for example, IQ is something left in the midlane, while their concurrent is pretty high in such fields.
Overnight and its prices
For comparison, IQ Option has a buy position of -0.006% to -0.019% and Plus500 from -0.0109% to -0.019%
In this case, IQ Option’s sell positions fluctuate between – 0.008% and -0.025%, while those of Plus500 remain at +0.0010%.
Thus, IQ Option’s Overnight commissions are constantly fluctuating, leading to lower or higher points than Plus500. In a conclusive way we can say that at this point there is not much difference between the two.
If we talk about Overnight commission for the sale, the situation changes. In the example we can see that IQ maintains a negative number fluctuation, and their concurrent has a positive premium. In other words, Plus500 in this example has allowed the trader to make a profit on night sales, rather than this being an expense.
Conclusions, which is better?
At first, both are at least interesting alternatives. Plus500 is more suitable for those who already worked in their software, while their concurrent is great for the less knowledgeable, thanks to its video tutorials, chat and little investment.
In terms of amount of assets, Plus500 is rated as one of a kind, as it offers 70 Forex pairs and more than 1000 stocks. It is a very big amount even for such a market.
When it comes to cryptocurrencies for a long time IQ Option took the lead, but today they seem to be on par. It is not the same when it comes to raw materials, where Plus500 is ahead.
A differential of each of the platforms is that in Plus500 we can generate CFDs on bullish or bearish options, while IQ Option offers us FX options, which must be said that they are not very intuitive for those who are starting.