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Comparison Firstrade vs IQ Option
A dozen different brokers were comparatively assessed on InvestorGreg.net, and the best online trading brokers were found. Here, we compare Firstrade vs IQ Option. Which of them: Firstrade or IQ Option a better online broker?
First of all, we’ll compare the commission fees of the two brokers. The commission fee of Firstrade on regular transactions of the stock exchange is $0, and IQ Option has a commission fee of from 0.16%. Let’s analyze the commission fees on trading options. Firstrade has a commission fee of $0, IQ Option has a commission fee of from 0.035%. You can read more detailed information on commission fees in the online broker reviews.
Investors should always know about types of online trading supported by broker and about tools provided by them in trading. It is very important information as well. Let’s compare them. are Firstrade provides customers with Stocks Trading, Options Trading, ETFs Trading, Mutual Funds Trading, Bonds Trading, and IQ Option provides customers with Stocks Trading, Options Trading, ETFs Trading, Forex Trading, Crypto Trading. Concerning the platforms, Firstrade uses Desktop Platform (Windows), Desktop Platform (MacOS), Web Platform, Android App, iOS App, while IQ Option uses Web Platform, Android App, iOS App.
In conclusion, when comparing the two online brokers, we should pay our attention to the year and country of foundation, the regulatory authorities and ways to withdraw funds. Firstrade was established in 1985 in United States, and it is regulated by SEC and FINRA. And IQ Option was established in 2013 in Seychelles, and it is regulated by Not Regulated. Withdrawal of funds from Firstrade can be done using Bank Wire with a withdrawal fee of $30 domestic US, $50 international. And IQ Option provides the ability to withdraw funds using Bank Wire, Visa/Mastercard with a withdrawal fee of free. The withdrawal time for Firstrade is 2-3 business days, and that one for IQ Option is within 1 business day.
As a result, the rating of Firstrade is 3.9 stars versus that of IQ Option of 3.9 stars.