IQ Option vs Binance
IQ Option vs Binance
The world of cryptocurrency trading is growing quickly. Many companies which were previously focused on providing other types of trading services have expanded their offer in an effort to get a piece of the crypto pie. Likewise, companies specialised in trading virtual coins have also grown and added new features into the mix. If you’re a trader looking for the best possible business partner, you have a lot of options in front of you, so making the right choice can demand a lot of research. To help you with that, we bring you a direct comparison of two extremely popular cryptocurrency trading websites. In our IQ Option vs Binance clash, you will see what each of these two behemoths can offer you. Keep reading and you will find your perfect trading platform!
Risk warning: Binary options are not promoted or sold to retail EEA traders. If you are not a professional client, please leave this page.
IQ Option vs Binance: Trading platforms
We won’t beat around the bush with this article, so let’s get straight to the point. What’s it like to trade on each of these websites? Well, to give you an answer to that, we have to make an IQ Option vs Binance platform comparison, and there’s a lot to digest there.
First of all, we have to say that IQ Option Trading Platform was created by the broker’s own team and that it’s technologically quite advanced and offers a lot of tools with which you can analyse the market in great detail. However, it also has to be said that this platform was not created solely with cryptocurrencies in mind, so you will be able to trade other things, like for example forex, there. We absolutely love the design, and everything runs very smoothly, so the whole package sets a very high standard.
Binance has a great platform too, which works absolutely fine, but in terms of intuitiveness and design, we have to give IQ Option the points here. New traders may be intimidated at first by all those numbers on the screen, and only the advanced version of the platform offers any analytical tools. IQ’s platform looks and feels better, plus it has more options, which is why the broker takes the first part of our IQ Option vs Binance matchup. However, things are far from over.
IQ Option Platform
IQ Option vs Binance: Supported coins
A good platform serves no practical purpose if it doesn’t contain the assets that interest you. This is where Binance strikes back. That is not to say that the number of IQ Option supported coins is low, not by a long shot. IQ Option cryptocurrency trading covers all the most popular currencies, 14 of them to be exact. So, if things like Bitcoin and its forks, Ethereum, Litecoin, Zcash and stuff like that are what you’re looking to invest in, then you’ll be absolutely fine. But Binance takes things to a whole new level.
If you’re someone who has a deeper understanding of the cryptocurrency market and are always looking for a new trading sensation, Binance is the place to be. More than 50 different currencies are listed there, and new ones just keep popping up. This platform is also known for supporting various ICOs which often actually end up listed on Binance’s website. This is how a self-sustaining crypto-environment is formed and why you can hope to find unique opportunities here. Experienced traders will love everything about the offer here, which is this IQ Option vs Binance duel is now tied. We repeat, if you’re looking just to trade the most popular coins, IQ Option is fine, but Binance has so much more depth in terms of its offer. Moving on.
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IQ Option vs Binance: Finances
Obviously, the financial aspect on trading on these websites cannot be ignored. However, this is where the two companies diverge because they have completely different philosophies in this respect.
With IQ Option crypto, you have to pay a 2.9% fee when opening a position. If you want to withdraw, you can withdraw in OTN, BTC and ETH or simply make a withdrawal to your bank card or e-wallet. Now, when withdrawing in bitcoins, you can expect a fee of 0.05% + 0.001 BTC, whereas for Ethereum you will need to pay 0.0007 ETH. Withdrawing to cards and e-wallets is free. With Binance, on the other hand, you only pay 0.1% per trade, but this can be even lower if you use their BNB tokens for that. Furthermore, withdrawal fee for bitcoins is 0.001 (so, without the 0.05% that IQ Option charges), but the fee for withdrawing in ETH is 0.01, which is significantly higher than IQ’s. We won’t go into other fees because Binance charges a different amount for each of the cryptocurrencies there, so check things out for yourself on the platform’s fees page if you need more info. We took these numbers only because they allowed us a direct comparison.
But where’s the divergence we mentioned earlier, you may ask. Well, the thing is that you can only deposit with fiat currencies if you opt to trade with IQ Option, while Binance only accepts cryptocurrencies. So, convenience will also play a significant role when making your choice. No matter which one you choose, though, you can’t go wrong.
Conclusion
It is important to have a good partner if you want to be successful at cryptocurrency trading, and in this IQ Option vs Binance comparison we bring you two of the very best. Each has a lot to offer, so your trading preferences will have a big role to play, but you really don’t have to worry about making your choice. If you’re a more experienced trader and know all the intricacies of this market, Binance may be more suited to your need due to its longer list of available currencies. Less experienced traders will probably go with IQ Option, primarily because it has a more intuitive platform. Do not forget, however, that you can only use fiat currencies to deposit with IQ Option, while Binance only accepts virtual currencies. See what you need more and make your choice. Either way, you’ll love what these companies offer.
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Risk warning: Binary options are not promoted or sold to retail EEA traders. If you are not a professional client, please leave this page.
Hello! I’m Mark Watson, born and raised in Scranton, PA. I’ve been investing online ever since I started college at the University of Pennsylvania (go, Quakers!), where I was an undergraduate student of Economics. At first, I didn’t invest much, I was just hoping to get some extra pocket money, but with time I realized how math and patterns can actually be of great help in this line of work.
After a few years, I moved to London School of Business and Finance to continue pursuing my career in investing, and I eventually landed a job at Credit Bank Europe. The experience I got there was invaluable, plus it assured me that online trading was something I want to do for a living. Sure enough, I became a trading manager in 2015 with FXVC Online Trading, but a little while later I started working on my biggest project so far – BinaryOptionsTrading-Review.com.
The website is still going strong, and we have analyzed hundreds of brokers from all trading fields so far and helped hundreds of readers make the right choice. We also publish trading signals on a regular basis, which have proven to be accurate about 80% of the time!
And since the online trading industry is only growing, with cryptocurrencies and other similar products entering the fray, I am incredibly excited about what the next few years have in store for us. In short, if you want advice from a passionate trader, you’ve come to the right place!