IQ Option vs. Binomo – which one is the better trading platform?
Table of Contents
IQ Option and Binomo are well-known for investment opportunities. There are millions of traders who are using these platforms. Both companies are direct competitors. As traders, we want the best conditions and platform for our investments. On this page, we will discuss the features of both platforms and come to the conclusion of which one is better. IQ Option vs. Binomo – Where do you get the highest return on investment? How good is the trading platform? – Find out in our detailed comparison.
See the comparison of the main facts about both companies:
| IQ OPTION: | BINOMO: | |
|---|---|---|
| REVIEW: |  (5 / 5) |  (4.7 / 5) |
| MINIMUM DEPOSIT: | $10 | $10 |
| DEMO ACCOUNT: | $10,000 free | $1,000 free |
| PLATFORM: | Desktop, web, app | Web, app |
| MARKETS: | 300+ currencies, cryptocurrencies, stocks, ETFs, indices, commodities | 60+ currencies, cryptocurrencies, commodities, stocks |
| FINANCIAL PRODUCTS: | Binary Options, Digital Options, Forex, CFDs | Binary Options |
| RETURN ON INVESTMENT: | Maximum 100%+ (in case of a correct prediction) | Maximum 90%+ (in case of a correct prediction) |
| SUPPORT: | 24/7 phone, email, chat | 24/7 email, chat |
(Risk warning: Your capital might be at risk)
Overview about IQ Option
At the moment IQ Option is the most popular broker for online investments. The company is based in Saint Vincent and the Grenadines and active since 2013. More than 50 Million users are registered on this platform. The company is growing and adding more features to the trading platform. Traders are accepted from all over the World to use the trading platform (except for several countries). IQ Option is considered to be a very safe broker to trade with.
You can start with a free $10,000 demo account or a minimum deposit of $10. A lot of different payment methods are available (Bitcoin, credit card, PayPal, bank wire, and more). Clients will be subject to a 2% withdrawal fee starting from the second withdrawal per month. Furthermore, currency conversion fee might apply when depositing money. On the trading platform, you will get access to more than 300 different assets and markets. There is a huge variety of investments. Furthermore, the return of investment (yield) can be up to 100% (in case of a correct prediction).
Moreover, the trading platform is very user-friendly. From our experience, it is the best trading platform compared to other brokers. There are video tutorials and a direct support option to get help and explanation for trading correctly. Beginners and advanced traders should feel comfortable very fast on the trading platform. A professional analysis with lots of tools is possible. The platform is available for desktop, web, or mobile phones.
Overview about IQ Option:
- Headquarters in Saint Vincent and the Grenadines
- Free demo account
- $10 minimum deposit
- More than 300 different markets and assets
- Binary Options yield up to 100% (in case of a correct prediction), Digital Options yield up to 900% (in case of a correct prediction)
- Forex, CFDs, Stocks, ETFs, Cryptocurrencies
- User-friendly platform and easy to use
- Helpful tutorials
- Multi-language support
Overview about Binomo:
Binomo is well-known for trading Binary Options. The company is based in St.Vincent and the Grenadines and offers to invest in rising or falling prices to earn a high yield of up to 90%. Since 2015 the broker is active and has more than 800,000 traders daily. Binomo is regulated by the International Financial Commission with the category “A”. This is the highest regulatory level you can get there.
Compare to IQ Option the variety of markets and assets is not so high. There are only 49 markets available to trade. Invest in currencies, cryptocurrencies, stocks, and commodities. The minimum deposit is $10 for trading with real money or you try the free demo account with a virtual balance of $1,000. Like IQ Option the trading platform of Binomo is very user-friendly and easy to understand.
For depositing and withdrawing money there are more than 5 different methods available. It is depending on your county of residence but you will not pay any additional fees. Binomo is offering 24/7 multi-language support, trading strategies, and tutorials for beginners. In conclusion, Binomo seems like a good trading platform, too.
Overview about Binomo:
- The company is based in Vincent and the Grenadines
- Regulated by the Financial Commission
- More than 49 assets available to trade
- Free demo account $1,000
- Minimum deposit $10
- Account types
- Maximum yield up to 90% (in case of a correct prediction)
- User-friendly platform
- 24/7 support
- Trading strategies, tutorials, events
(Risk warning: Your capital might be at risk)
Trading platforms – IQ Option vs. Binomo
In the following, we want to compare the trading platforms in detail. IQ Option and Binomo offer a customizable trading platform with a lot of different analysis tools. Is it possible to do a professional analysis? We tested both platforms and share with you the result. The first impression shows us the same structure on both platforms. On the side, you see the order mask and settings for trading and in the center, you see the chart.
For traders, it is important to have access to the portfolio and trading platform at any time. Both software is available for any device. You can use your desktop computer, tablet, or mobile phone for trading. IQ Option shows the advantage that they created a program that you can download for your computer. It is faster than the web version and gives you a better design.
| IQ OPTION: | BINOMO: | |
|---|---|---|
| WEB PLATFORM: | ✓ | ✓ |
| DOWNLOAD VERSION: | ✓ | No |
| ANDROID: | ✓ | ✓ |
| APPLE IOS: | ✓ | ✓ |
| METATRADER: | No | No |
(Risk warning: Your capital might be at risk)
Charting and analysis compared
When it comes to charting and analysis both platforms offer indicators, chart types, and drawing tools for technical analysis. You can customize the chart as you want in different ways. Every trading strategy is allowed by brokers. Adding an indicator or tool is very simple. Just open the menu for it and implement the tools. You can configure the settings and presentation. All in all, charting and analysis are possible on both platforms but IQ Option will offer you more tools than Binomo.
Charting and analysis:
IQ OPTION: | BINOMO: | |
|---|---|---|
CHART TYPES: | More than 4 | More than 4 |
TIMEFRAMES: | More than 24 | More than 11 |
INDICATORS: | More than 40 | More than 10 |
DRAWING TOOLS: | More than 5 | More than 10 |
TEMPLATES: | Yes | No |
WIDGETS: | Yes, Traders Sentiment, High and Low Values, Trades of Other People, News, Volume | No |
(Risk warning: Your capital might be at risk)
Financial assets and markets:
IQ Option clearly wins with more than 300 different assets and financial products. It is a multi-asset broker where you can trade Binary Options, Digital Options, Forex, ETFs, Cryptocurrencies, and CFDs. Binomo only offers 49 markets to trade with Binary Options. Also, the conditions to trade are better with IQ Option. You can earn a higher return on investment up to 100% with Binary Options.
IQ Option wins when it comes to asset and markets variety:
- Binary Options up to 100%
- Digital Options up to 900%
- Forex Trading with low spreads (starting 0,5 pips)
- CFD Trading on stocks, ETFs, commodities, and cryptocurrencies
- Cryptocurrencies with high leverage
- Maximum leverage is 1:1000
IQ OPTION: | BINOMO: | |
|---|---|---|
MARKETS: | 300+ | 60+ |
FINANCIAL PRODUCT: | Binary Options, Digital Options, Forex, CFDs | Binary Options |
MAX. YIELD BINARY: | 100%+ (in case of a correct prediction) | 90%+ (in case of a correct prediction) |
MAX YIELD DIGITAL: | 900%+ (in case of a correct prediction) | / |
SPREADS: | Starting 0.5 pips | / |
LEVERAGE: | Up to 1:1000 | / |
(Risk warning: Your capital might be at risk)
Accepted payment methods:
The accepted payment method is always depending on your country of residence. Overall, we can say that Binomo offers about 9 payment methods and IQ Option offers more than 20 payment methods. Credit cards, e-wallets, and cryptocurrencies are accepted.
After registering your account you will see which payment methods are available, as they depend on your location.
Test of deposits and withdrawals
Both brokers have the advantages that there are not any additional fees for your deposits and withdrawals. Deposits can be done instantly with electronic methods. The minimum deposit is $10 on both platforms. For withdrawing money you have to have at least $2 on your account balance. IQ Option is very fast when it comes to withdrawing money. The withdrawal processing time on IQ Option is within 1-3 business days. On the Binomo platform it can take up to 3 days but they are also fast.
IQ OPTION: | BINOMO: | |
|---|---|---|
Payment methods: | 20+ | 9+ |
Minimum deposit: | $10 | $10 |
Minimum withdrawal: | $2 | $1 |
Fees: | 2% | No |
Withdrawal duration: | 1 – 3 days (often in less than 5 hours) | 1 – 3 days |
(Risk warning: Your capital might be at risk)
Compare the support and service for traders
IQ Option and Binomo are international brokers and they are offering multi-language support and service. You can contact support via phone, email, or chat. The support employees on both brokers are professional and can help you quickly. In addition, there are video tutorials and helpful stuff to learn to trade. On both platforms, you will find learning material about how to trade correctly.
| IQ OPTION: | BINOMO: | |
|---|---|---|
| AVAILABLE: | 24/7 multi-languages | 24/7 multi-languages |
| METHODS: | Phone, chat, email | Phone, chat, email |
| PERSONAL SUPPORT: | Yes | Yes |
| VIP MANAGER: | Yes | Yes |
| TRADERS CHAT: | Yes | No |
| TUTORIALS: | Yes | Yes |
| TOURNAMENTS: | Yes | Yes |
| SPECIAL: | Asset information, news calendar | Trading strategies |
IQ Option vs. Binomo conclusion: IQ Option wins for us
In this comparison of IQ Option vs. Binomo, you saw that IQ Option is the better trading platform. That does not mean Binomo is a scam or bad brokerage firm. IQ Option just offers you more investment opportunities and trading conditions. You can start with a low minimum deposit and test the platform by yourself.
Overall, on the IQ Option platform, you can trade more markets, have more financial products, and earn a higher return on investment. We can recommend using IQ Option for trading. The platform is very user-friendly and the support shows us high expert knowledge. It is possible to trade with your desktop or mobile device. If you feel comfortable using the demo account you can start to trade with real money.
Why IQ Option wins vs. Binomo:
- Higher return on investment
- More markets to trade
- More financial products to trade
- Better support and educational material
- Better trading platform
Our comparison shows us that IQ Option is a better trading platform for any type of investment. (5 / 5)
Trusted Broker Reviews
Professional traders since 2013(Risk warning: Your capital might be at risk)
General Risk Warning: The financial products offered by the company carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
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Last Updated on January 27, 2023 by Arkady Müller
