IQ Option Vs Plus 500: Choose the best online trading platform
Trading attracts thousands of people every year in Spain and the world, although it represents a high-risk investment, it allows trading a large amount of assets and the possibility of obtaining significant returns. In that sense, online brokers represent an indispensable channel to achieve this, they have developed trading platforms that facilitate operations. Below is a comparison between two of the most recognized brokers, IQ Option and Plus 500:
Broker comparison: IQ Option vs Plus500
Although the platforms share some basic characteristics, they offer particular operating conditions that you should be aware of before making your choice:- IQ OptionThe broker is regulated by the Cyprus Securities and Exchange Commission and has a presence in more than 200 countries, it is one of the fastest growing brokers in the market. It has an online platform with its own development, the design is intuitive and offers multiple graphical indicators that facilitate the analysis. It also allows you to invest through Contracts for Difference (CFD) in more than 200 financial assets.
Advantages of the IQ Option platform
- It is affordable, the minimum deposit is low and there is no commission.
- Unlimited use demo account with free registration, new users can register in seconds and get to know the platform right away.
- Investment software with advanced design, user interface offers a better trading experience.
- It is regulated and recognized as a reliable, scam-free platform.
- Plus 500plus500 webtrader: is a CySEC-regulated broker with a long history, offers the platform plus500 webtrader with its own development and design that facilitates trading in CDFs. It also offers 2 account types (demo and live), as well as an additional option for professional users (if they meet 2 of the 3 requirements: more than 1 year of experience in the financial sector, proven trading activity and portfolio of financial instruments).
Advantages of the Plus 500 platform:
- Demo account with free registration, allows you to explore the platform and get to know how it works.
- WebTrader has an intuitively designed user interface.
- It offers more than 2,000 financial assets to trade with the CFD service.
- It operates under regulation, has proven to be a safe platform. Therefore, the term Plus 500 scam is not possible at this broker.
The IQ Option trading platform allows opening a position (with margin) from €1, while the maximum allowed investment is €6,000. In addition, both live and demo accounts offer leverage of up to 1:1000, users can choose the multiplier according to their trading strategy. IQ Option is also known for facilitating access to new traders, demanding one of the lowest minimum deposits, allowing you to start trading with as little as €10.
Trading at Plus 500 is done through CFDs, the minimum and maximum investment changes depending on the financial instrument to be traded, while the leverage is limited for the standard account (1:30, only users who qualify as professionals can access 1:300). Despite offering free registration, users wishing to start trading on the live account must make a minimum deposit of €100.
IQ Option demo account vs Plus 500 demo
|Brokers ComparisonIQ Option vs Plus 500|
|Online platform||Access with free registration||Access with free registration|
|Virtual amount available||$10.000||$40.000|
|Available assets||All||Most popular assets|
IQ Option demo$10,000 virtual capital is available to users for practice trading. In addition, the account is unlimited and the fund is automatically replenished, which provides an excellent opportunity to experiment with new strategies (the platform allows trading with all available assets, just like on the live account).
IQ Option demo account in 3 steps:
- Register with email and password, then you will have to confirm through the email received.
- Download the IQ Option app on your computer (available for Windows and Mac OS), you can also install the App on mobile (iOS and Android).
- Log into the application and start training with the virtual money available. The platform allows you to switch to your real account at any time, you will only need to make the minimum deposit and validate identification documents.
Plus500 demoPlus 500 broker also offers access to a demo account, which has a virtual fund of $40,000 (automatically replenished when the balance is depleted). The demo account allows you to learn all the charting tools and indicators, as in the live account, although not all assets are available.
Plus 500 how it works:
- Register demo account with email and password to login to WebTrader from browser.
- You can also download the application on your computer (only available for Windows), as well as on your mobile (App available for iOS and Android operating systems).
- You can now initiate virtual trades and open positions with the available financial instruments. You can also switch to the live account at your convenience, the process is transparent and there is no chance of plus500 scam (you will have to validate documents and make the minimum deposit of 100 EUR).
Online Trading Platforms
Users can avail online platforms with advanced development, both IQ Option and Plus 500 have proprietary applications:
Download IQ Option 4.0The updated version offers improvements in the user experience, with intuitive features that facilitate the operation. In addition, it allows access (without leaving the application) to instructional content, more than 140 video tutorials and online forums in real time. There is also a news section with technical analysis and updated economic calendars (available in the mobile and desktop version).
Download Plus 500The computer application is only available on Windows, however, you can also download it on your mobile with iOS or Android operating system. The software offers multiple charting indicators (although they are not enough to analyze all the assets available on the live account). It also offers technical support via online chat, while the tutorial section is limited to 6 videos and FAQs.
Deposits and Withdrawals
IQ Option broker allows a minimum deposit of 10 euros, an excellent incentive for traders with limited capital. The most commonly used payment methods in Spain are available for deposits and withdrawals (bank transfers, e-wallets, online payment methods, as well as credit and debit cards. Withdrawals have a minimum amount (2 euros), while the withdrawal process takes 24 hours (it may increase depending on the selected payment method).
The minimum deposit at Plus 500 is €100, which is required to start trading on the live account, but it is an amount that may limit users in the process of training. The platform also offers various payment methods for deposits and withdrawals, however, the withdrawal of funds (internal process) can take 24-72 hours.
Registered users of IQ Option can access trading tournaments, the platform organizes 2 to 3 events per week. These competitions are offered free of charge, however, there are also paid tournaments (the cost can vary between 4 and 20 euros). These events attract thousands of traders worldwide, an excellent opportunity to share experiences and test strategies. The prize money is shared among the top 10 traders of the tournament, some of them can reach up to $50,000.
Plus500 does not host online tournaments, beginner traders only have access to basic video tutorials. This is definitely a limitation for users who need to gain experience and knowledge about trading.
IQ Option Reviews vs Plus 500 Reviews
IQ Option reviewsis a platform that has won multiple international awards as well as millions of new users every year thanks to the advantages it offers. Without a doubt, it has all the necessary attributes to start a successful online trading career: unlimited demo account, low deposit and easy to use software.
Plus 500 reviewsCFD Trading: offers a platform designed for advanced traders who want to focus on CFD trading. Although it offers a robust platform, it has weaknesses related to training and technical support (no telephone support).