Most of people prefer to have a backup options and exist from unacceptable situations. There are few reasons of researches made regarding traders:
- Updates of databases, implemented improvements and additional benefits, that are absent regarding familiar broker;
- Too high fees, commissions, limits for entering and replenishments;
- Some mistakes made by familiar broker, that are not critical, but made too often.
This is not exhaustive list of weaknesses, inherent for famous brokers, that can cause loss of followers. Another reason, why proposals on trading environment can be reviewed, is first choice made by a person only starting to trade and looking for faithful and convenient partner. When experienced traders have appropriate knowledge for making conclusions and search, newbies often require help from reliable sources. Review of two known platforms performed below is aiming to explain differences and shown main aspects to be considered for both types of online trading services.
Everybody wants to know he is in safe and no additional hidden risks exists. This is why in first turn it is necessary to check legitimacy of resource.
IQ Option have been approved by local and European legislation (Cypriots and UK respectively) and operates under CySEC, MiFID, FAC legislation. It worth to know, that more than twelve million people over the Europe only joint and successfully dealing with it.
AnyOption specializes on binary options and have the same approvals as IQ Option. Although, because of service suspending for CIS, has much less followers.
2. How is easy to join?
The process of registration can be long and tedious. Some people don’t wasn’t to specify too much personal data. Opening account at AnyOption platform will take few minutes with respective filling of name, surname, phone number and email. Anyway, to start working without balance is impossible, so to complete registration amount of $200 should be put on balance.
IQ Option requires less information, just full name and email, so when they will be confirmed user should choose between 2 options: demo mode or trading mode. First one doesn’t require any funds for working, although will not bring real profit, it is a good way to acknowledge with tools and functions provided. To begin work with material profit balance should be replenished by only $10.
How comfortable is site usage, looking for analytical and other tools, how graphs are presented? All of these directly influence trading results. IQ Option has a modern design and different types of dynamics presentation. Additionally, software for working without official site but within authorized account is available for downloading.
AnyOption has simple interface with elementary design and graphs. It is easy to use, but there haven’t been updated for a long time, so competitors have more advantages.
IQ Option has well-designed interface with easy navigation. Graphs can be presented as line, candles and others that are highlighted by colors with indicative purposes.
As was mentioned above, binary options are defined as foreground for AnyOptions. However, IQ Option have diversity offers for investment: cryptocurrency, CFD, FX, stocks, etc.
5. Balance maintenance
There is no significant difference regarding the list of payment systems for these two brokers.
Although, trading via IQ Option platform will take $1 and more for trading, while amount to begin with AnyOption comprises at least $20. Leverage is a standard option presented for both cases. Withdrawals have no any limits and commissions, except money transfers.
6. Materials for development
Proposal of free trainee account usage is essential for unexperienced followers in order to obtain necessary data and get required skills. Unfortunately, Any Option didn’t develop such opportunity to traders. In case of IQ Option, servicing includes composed manual for acknowledging, guidance for different types of operations, video-lessons and professional consulting. As an advantage trader can find highly diversified amount of analytical tools with recommendation of their performance.
Obviously, availability for IQ Option is higher. It is more convenient and has more proposals. Platforms with more tools and options should be more preferable, that others. Insignificant amounts to be invested in a deal and replenishing should be also considered. One of the main things to put attention at is ability of broker to feel demand and implement respective improvements for users.