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IQ Option vs Olymp Trade – Which one is better?
Table of Contents
Do you want to start trading digital options or forex for your future development? Then you have to choose one of the online brokers for that. But getting a reliable trading platform is not easy right now. Because there are many available near you. It’s like a thousand or more. But you can find two major brokers that are leading the industry. They are the well known IQ Option and Olymp Trade.
IQ Option vs. Olymp Trade platform
At present these are the most famous digital options brokers in the world. But many people have their own opinion to choose one. Also, they review them with different benefits and ease of use. We will also explain here about them and describe in detail how we can compare IQ Option and Olymp Trade. What they really offer you? We will explore all these things here thus you can know everything with a short review. So let’s see IQ Option vs. Olymp Trade – Which one is better?
The main facts of IQ Option and Olymp Trade:
|IQ Option:||Olymp Trade:|
|Regulation:||CySEC (Cyprus)||International Financial Commission (IFC)|
|Demo account:||$10,000 Free||$10,000 Free|
|Platform:||Desktop, web, app||Desktop, web, app, MetaTrader 4|
|Markets:||500+ currencies, cryptocurrencies, stocks, ETFs, indices, commodities||100+ currencies, cryptocurrencies, stocks, commodities, indices|
|Financial products:||Binary Options, Digital Options, Forex, CFDs||Binary Options, Forex|
|Yield for Options:||Maximum of 100%+||Maximum of 92%+|
|Support:||24/7 phone, email, chat||24/7 phone, email, chat|
IQ Option overview:
IQ Option is a famous online broker for trading options, forex, and CFDs. Mainly it is a Cyprus-based broker company. More than 25 million registered customers are trading here. It is being one of the best binary options brokers among others. Generally, IQ options allow users of three kinds of trading accounts. User can easily sign up or register for a real account, a demo account or a premium account on this platform.
The users can start the trading journey with the demo account. So you can say that demo accounts are given to get started on this platform. On the other side, the real account needs a minimum deposit to open. The account needs a minimum of $10 deposit. Also, the premium accounts need a $3,000 deposit first.
IQ Option growing numbers
With IQ Option, users can trade with more than 500 markets. Also, IQ Option gives you a fabulous educational system online. So that the user who wants to trade with IQ Option can learn about it. Also, the newcomers can learn on this platform easily. Not only that. The experienced traders also can use this. They can gather knowledge about the trading system using this educational material. All the resources available there is much well and useful for the users.
IQ Option is a licensed authority that is regulated by famous CySEC. Also, this broker company is available in various countries with their services across the world. But unluckily IQ Options is not open for Canada, USA, Israel, Japan, and rare in some other countries.
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Main facts about IQ Option:
- The company is based in Cyprus and St. Vincent and Grenadines
- Largest broker for digital options
- Growing account registrations
- Regulated company
- Accepts international clients
- More than 500 markets
- Small minimum deposit $10
- High returns on investments
- Quality and userfriendly platform
Olymp Trade overview:
Olymp trade is not much different from IQ Option. They are just like each other for digital options trading. Olymp Trade is based in Cyprus, too and it has a great serving base in Russia and headquarters is in Saint Vincent and the Grenadines. This digital options broker calculated that they have more than 25,000 trading people who are trading on their platform daily.
Olymp Trade allows two types of trading accounts on their site. The standard account and the VIP account. A standard account needs a minimum of $10 deposit to start trading. And VIP accounts need a $2,000 minimum deposit with it. But these two accounts proceed with a $10,000 virtually deposited demo account first. The company gives more than 100 assets to trade on the platform. Also, it has large educational elements that the newcomers can utilize for their trading training.
The platform is regulated by the International Financial Commission (IFC) and got no real authority of a country which is regulating the offers. That is why Olymp Trade is not available for European clients. But through our research and tests, the trading platform has the highest security standards.
Main facts about Olymp Trade:
- Based in Cyprus and Saint Vincent and the Grenadines
- Regulated company by the IFC
- Broker for digital options and forex
- Small minimum deposit of $10
- Secure trading platform
- More than 44 million downloads
- More than 25,000 users every day
- Growing popularity
Regulation of the companies (Regulators):
IQ Option is regulated by the Cyprus Securities and Exchange Commission (CySEC). Which shows us a high trust because it is a legit regulatory authority in Europe. In addition, IQ Option is registered in many countries by regulatory authorities which allow the serivice of the trading platform.
IQ Option is regulated by the CySEC
Olymp Trade is regulated by the International Financial Commission with the highest category A. It is an independent regulator which is checking brokers through different criteria. The regulator is legit too because we know that a lot of trusted brokers got this regulation.
Olymp Trade is regulated by the IFC
But both regulators assure that the activities of the brokers are in accordance with the legal financial laws. The regulators also manage conflicts resulting from the bad use of brokers.
Active traders measurement
More than 25,000 registered traders are using the Olymp Trade with the real-time account from the site. According to their website, nearly 250,000 registered users made real trades on a live account in the month of January 2020. They boast for more users on their platform daily. Their monthly turnover exceeded $171 million.
On the other hand, IQ Option processes over 15 million traders with a monthly trading volume exceeding $290 million. So both broker companies dominating the Digital Options and the Forex Market.
IQ Option vs. Olymp Trade – Trading platform comparison
We explained the trading and facility of the digital options brokers above. And you have already known that Olymp Trade is one of the real competitors of IQ Option. Although they are pretty similar, they have some different trading policies and benefits. Now here we will help you to differentiate and choose the better option from them. Here we compare both platforms with every single research from the depth. So that you do not have any confusion even if you are a new trader on this platform.
There are many people who are confused about choosing the best one. But the comparison below help you a lot to decide the better one before investing in it. Let’s go to the comparison with the side by side in-depth research comparison.
IQ Option trading platform screenshot
Olymp Trade platform screenshot
Users and traders can access both platforms using different Web applications. They are accessible via different desktop apps (Windows and macOS) as well as Mobile apps (Android and iOS) anytime. Also, Olymp Trade is offering the popular trading platform MetaTrader 4 for forex trading.
|IQ Option||Olymp Trade|
Charting on IQ Option and Olymp Trade
From our experience, IQ Option is showing a better-developed trading platform. There are more opportunities to analyze the chart and use technical strategies. You will find more indicators and analysis tools. In addition, you can customize the chart better than on Olymp Trade.
IQ Option indicators for analysis
That does not mean you can not trade successfully with Olymp Trade, both platforms are offering the right tools for investments.
- Drawing tools
- Chart types
- Multi charting
- Customizeable platforms
Return on investments (options):
Depending on the financial instruments or assets, Olymp Trade allows returns varying from 70% to 92%. Also, it depends on the account type and volatility of the account. IQ Option returns of investments ranging from 75% to 100%. Here the account type and volatility also counted. All in all, you can earn more money with IQ Option because of the higher yield. Another important difference is that you can earn a 100% yield without a VIP account on IQ Option. For earning 92% you will need the Olymp Trade VIP account.
Types of accounts they are offering
There are different types of accounts which are offered. Olymp Trade offers 3 different account types and IQ Option offers 2 different account types. The account status is depending on the deposit and trading volume.
For standard accounts, the user has to deposit the minimum amount of $10 on the account to open this on both brokers. On the other side, VIP accounts need a deposit of $2,000 on the account first with Olymp Trade and $3,000 with IQ Option. The Vip account gives some extra benefits for the account holder. It included higher returns options and a personal consultant policy initially. The VIP account covers the risk-free trades on the Olymp Trade platform.
IQ Option VIP account included faster withdrawals, a personal account manager and free trading ebooks facility. Both IQ Option and Olymp Trade allow a demo account on their platform. This account accumulates $ 10,000 in virtual cash.
|IQ Option:||Olymp Trade:|
|Standard account:||$10 (yield up to 100%)||$10 (yield up to 82%)|
|Advanced account:||–||$500 (yield up to 84%)|
|VIP account:||$3000 (yield up to 100% + 1 – 5% additional return)||$2,000 (yield up to 92% + risk-free trades)|
Financial instruments (Asset types)
Olymp Trade allows more than 80 different assets or financial instruments with its platform. It offers forex, options, indices, cryptocurrencies, stocks, and commodities.
On the other hand IQ Option has over 500 financial instruments or assets for the platform. These cover options, forex, ETFs, CFDs, commodities, cryptocurrencies, and indices.
Assets and markets of IQ Option
The active assets are depending on the time and stock exchange opening. IQ Option offers by far more options to trade. You can invest in more markets thant with Olymp Trade. IQ Option clearly wins in this comparison.
Accepted payment methods
At present Olymp Trade receives only 9 payment methods. Including Visa/master cards, Neteller, Skrill, Webmoney they accept debit/credit cards and some other eWallets payment system.
But IQ Option accepts more than 20 various payment methods for secure deposits and withdrawals. IQ Option accepts all the methods that Olymp Trade accepts.
We can not list all payment methods here because the payment method can be depending on your country of residence. For example, European clients can use PayPal with IQ Option. In conclusion, IQ Option also wins this comparison because the broker is offering more payment methods.
Deposit and withdrawals
Olymp Trade and IQ Option both are fast and easy process platforms for traders. If you are trading with a credit / debit (bank) card or e-wallet, they will prepare the deposit, especially in certain minutes. Olymp Trade allows its traders a deposit bonus also. The user can decline the bonus during the process of deposit. The least deposit amount for the account is $10.
The account you just used to create a deposit can be withdrawn. Both platforms (Olymp Trade and IQ Option) will not require any withdrawal charges or fees. Also, the minimum withdrawal balance is $10 for an account.
Within 24 hours to 5 business days, all withdrawals are prepared. But for both trading platforms, the VIP account owners will experience quicker withdrawal processing.
|IQ Option:||Olymp Trade:|
|Fees:||No fees||No fees|
|Duration:||24 hours on working days||1 – 2 days|
Review of the support
Olymp Trade and IQ Option both have a user-friendly and expert support team. They are very professional and knowledgeable about your trading on this platform. If any support the trader or anyone needs they can be easily communicated via chat, phone call or email. At present they are also available to contact via different social media platforms like Facebook.
|IQ Option:||Olymp Trade:|
|Methods:||Phone, chat, email||Phone, chat, email|
|Education:||Yes, videos and tutorials||Yes, videos and tutorials|
|Special:||Asset information and news calendar||Trading signals|
Conclusion – IQ Option vs. Olymp Trade
IQ Option and Olymp Trade both platforms are for options and forex traders. These two brokers are the best place for investment. Any traders can start options trading with the minimum $10 deposit amount. This a big chance with a little investment for long term trading. For options traders, the broker company IQ Option allows better features with a higher return.
So IQ Option vs. Olymp Trade – Which one is better?
IQ Option is for us the better platform because of the higher return and higher variety of assets and charting tools. Also, the trading platform the best one compared to other online brokers. It is a very user-friendly broker which is offering you alls tools for successful trading.
Why is IQ Option better than Olymp Trade:
- Higher returns
- More assets are available to trade
- More financial instruments
- Better trading platform
Overall, IQ Option is the first choice for traders. There are only small differences between both online brokers but IQ Option shows us better opportunities to invest. (5 / 5)
Olymp Trade Review
|US Traders Accepted|
|Company Name||Smartex International Ltd.|
|Headquarters||St. Vincent and the Grenadines|
|Deposit Options||Credit/debit cards, QIWI, Yandex.Money, Neteller, Skrill, WebMoney, FasaPay|
|Deposit Currencies||US dollar, euro|
|Trading Instruments||Currencies, stocks, commodities, indices|
|Number of Trading Instruments||65|
|Binary Option Types||High/Low, 60 Seconds|
|Customer Support Types||Email, web form, live chat, telephone, paper mail|
|Education Offered||Basic articles and presentations on trading and strategies|
|Tools Offered||Economic calendar, trading signals (in-platform), early close, risk-free trades, Heiken Ashi, tick charts|
|Awards||Best Binary Options Platform in 2020 from IAIR Awards|
|Languages||English, Russian, Spanish, Portuguese, Indonesian, Thai|
|Demo Account||Yes, free|
Olymp Trade is a binary options broker based in Seychelles and operated by a company called Smartex International Ltd. Brokerage. The site’s services are aimed largely at Russian traders, though traders from around the world are accepted. If you are in the USA, however, you cannot trade on this site. Olymp Trade has its pros and cons, but does have some very nice features, including extremely flexible trade sizes, a demo account, and a completely fee-free structure.
Is Olymp Trade Regulated?
If you look at the Olymp Trade homepage, you will notice there is a prominent tab up on top which reads “Regulation.” This may lead you to think the company is formally regulated by a government agency, but this is not the case.
Olymp Trade is “regulated” by a group calling itself the International Financial Commission. This is a private “external dispute resolution (EDR) organization” (from the Commission’s website) which seeks to provide arbitration in disputes between traders and member providers.
In theory, this may provide you with some level of protection. Assuming the International Financial Commission takes itself and its mission seriously, member providers must operate openly and honestly. Furthermore, if the IFC judges that a broker owes you money and the broker will not pay, the Commission may itself award you up to $20,000 per client. Again, all of this is assuming that the IFC does its job.
Registering, Depositing, and Withdrawing on Olymp Trade
You can register in minutes on Olymp Trade and deposit money to start trading. If you prefer, you can begin with demo trading instead. When you are ready to deposit, you can do so using credit or debit card, QIWI, Yandex.Money, Neteller, Skrill, WebMoney, or Fasapay. The only currencies available are US Dollar and Euro. No account types are listed on the site, but you can apparently be a regular or “VIP” customer. VIP customers may be able to place risk-free trades from time to time, and also can make larger maximum trades ($5,000 instead of $2,000).
You only need to deposit $10 to start trading. Most sites require $200 or more, so this is fantastic if you are just starting out.
Bonuses are mentioned explicitly almost nowhere on the site, though Olymp Trade does offer them. While more transparent information on the bonuses would be nice, it is actually refreshing not to see a hard sell on them. Bonuses come with strings attached, and many newbie traders do not really know what they are getting themselves into when they accept one.
One awesome thing about Olymp Trade is that they do explicitly state that there are no fees or commissions for trading, depositing, or withdrawing. The minimum withdrawal threshold is just $10. You are not going to find friendlier terms than these anywhere.
Trading on Olymp Trade
Olymp Trade operates on a proprietary platform. This platform looks a bit different from SpotOption and others you may be familiar with from trading on other sites, but it is likewise a simple design which you can quickly get used to. The platform is available for desktop and laptop.
In terms of assets, there are 65 in total, consisting of stocks, indices, commodities, and currencies. This is not a very big selection, but you really do not need access to hundreds of different financial instruments to be a profitable trader anyway.
What is more limiting is the fact that there is only one type of trade offered on Olymp Trade at this time. Aside from standard High/Low trades, there is no other way to interact with the market. You cannot place a One Touch trade, a Range trade, a Ladder trade, or any of the others which have become common other platforms.
Note however that Olymp Trade does offer 60 Second trades. They simply are not denoted on the platform as such. Expiry times as short as one minute are offered, however, so if you want to trade fast, you can.
A cool feature on the platform is built-in trading signals. You will find them listed right next to the assets. Their platform is also one of the few in the binary trading industry to offer Heiken Ashi charts analysis. Another interesting feature are the tick charts – they allow traders to analyze short-term price action. This can be useful for binary option deals with very short expiry periods.
If you need help learning to trade, there are some basic articles and presentations in the Education section. This includes some free trading strategies and detailed information on how to apply them.
One thing which is awesome about Olymp Trade is that you can invest just a dollar. You might wonder why you would want to trade so little, but this is actually a fantastic way to transition into trading with real money if you are done with demo but still not ready to invest the full amount you are planning on risking. Traders with very small accounts can benefit from this kind of extended transition. You can work on building up a pile of savings to fund your account while you practice with minimal losses. Once you really know what you are doing, you can start staking more.
Need to get a hold of customer service? The company offers 24/7 help via telephone, live chat, email, web form, and paper mail. No one was staffing the live chat line when I checked on a Monday, which is somewhat concerning, but not unexpected.
Conclusion: Olymp Trade May Be a Great Choice for Beginners with Small Accounts
How trustworthy is Olymp Trade? It is hard to say, given that they are “regulated,” but are not really regulated in any officially recognized sense.
In terms of other advantages, however, Olymp Trade has a lot to offer. On this site, you can start out with a demo account and then trade a single dollar or other small amounts for as long as you need to in order to learn to trade effectively. The total lack of withdrawal fees is also quite incredible. Many other sites will charge you an arm and a leg to withdraw, and will not let you withdraw at all unless you have $100 or more to take out of your account at a time.
So all in all, right now I feel I can give Olymp Trade a cautious recommendation at this point. I would particularly consider signing up for an account here if I was a beginner with a small trading account.
Olymp Trade , 9.0 out of 10 based on 16 ratings
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