Quotex and Olymp Trade are popular online platforms catering to traders seeking opportunities in the financial markets. While both platforms offer a range of assets and trading options, choosing the right one depends on your specific trading goals and preferences.
In this comparison, we’ll explore the key features and differences between Quotex and Olymp Trade to help you decide which platform may better suit your needs.
Trading Platform Quick Overview
| Basic Features | Quotex | Binomo |
| Minimum Deposit | $10 | $10 |
| Minimum Trade | $1 | $1 |
| Forex Bonus | Welcome bonus 30% when opening a real account | – |
| Minimum Withdrawal Amount | $10, $50 for Bitcoin withdrawals | $10 |
| Assets | 80+ | 100+ |
| Non-Trading Fees | No trading fees and no deposit, withdrawal and account fees | No trading fees, and no withdrawal fees but with $10 inactivity fee |
| Deposit And Withdrawal Methods | Debit cards, credit cards, internet banking, e-wallets, and Cryptocurrencies. | Credit/Debit Cards, Neteller, Skrill, Bitcoin, WebMoney, FasaPay, Bank Wire Transfer |
| Deposit Bonuses | Yes, 20% to 35% | Yes, 10% to 50% |
| Return On Investment | Up to 98% | Up to 92% |
| Forex Trading | No | Yes |
| Demo Account | Yes, $10,000 | Yes, $10,000 |
| Regulator | IFMRRC | FinaCom |
| Withdrawal Time | 1-5 business days | 1-5 business days |
| Leverage | None | 1:500 for forex and 1:200 for stocks (Max) |
| Signals | No | Yes |
What is Quotex?
Quotex Review | Sign up with Quotex for free now!
Quotex is a trustworthy place where you can trade different things like cryptocurrencies, stocks, and gold. It’s easy to use, and you don’t need a lot of money to get started. Plus, you can take your money out without any extra charges. They have friendly customer service and give you bonuses when you start. You can even practice trading for free with $10,000 to learn how it works.
Pros:
- Proprietary online platform with an intuitive interface
- Low minimum deposit of just $10
- No trading fees, deposit fees, withdrawal fees, or account fees
- Enjoy a generous 30% deposit bonus
- High payouts with a 98% success rate
- Global accessibility, available in multiple languages
- Access to an abundance of trading signals
- Accepts cryptocurrency payments
Cons:
- No dedicated mobile app, but you can access the platform via your mobile phone
- Leveraged trading is not supported
What is Olymp Trade?
Olymp Trade is an online trading platform that primarily focuses on binary options and forex trading. It was founded in 2014 and has gained popularity as a user-friendly platform for individuals interested in financial trading.
Pros:
- Wide ranges of assets
- Low Initial Deposit
- User-friendly trading platform
- 24/7 customer support
- Extensive training options
Cons:
- Limited Bonuses
Binary Options Trading: Comparison Between Quotex and Olymp Trade
Let’s compare Quotex and Olymp Trade to help you understand the key distinctions and similarities between them. This will help you decide which one is better for your trading.
1. Minimum Deposit Amount
Quotex and OlympTrade allow you to begin trading with only $10, which is fantastic if you don’t have much money. This is especially beneficial for beginners who are just starting to explore trading.
Because the initial deposit requirement is so affordable, both Quotex and OlympTrade are good options. You won’t have to risk a large sum of money when you start trading with them.
2. Minimum Withdrawal Amount
Quotex and Olymp Trade have different minimum withdrawal requirements. Quotex offers flexibility based on your chosen withdrawal method. For standard withdrawals, the minimum withdrawal amount is $10. However, if you prefer to receive your funds in Bitcoin, the minimum withdrawal amount increases to $50.
In contrast, Olymp Trade maintains a consistent minimum withdrawal amount of $10, regardless of the withdrawal method you select. This means that the users can initiate withdrawals with as little as $10.
3. Trading Fees and Commission
If you want to invest money using online trading platforms like Quotex and Olymp Trade, it’s important to know about the fees and charges they may apply. These fees affect how much money you make, so it’s essential to understand what you might have to pay when using these platforms.
Quotex:
- No Trading Fees: Quotex doesn’t charge extra fees when you buy or sell things on their platform. It’s free to make trades.
- No Deposit Fees: When you deposit money into your account, they won’t ask you for any extra fees.
- No Withdrawal Fees: Similarly, there are no fees associated with withdrawing your funds from your account.
- No account fees: Quotex does not charge any regular account maintenance or subscription fees.
Olymp Trade:
- No Trading Fees: Olymp Trade, like Quotex, doesn’t charge any extra money for buying or selling things on their platform.
- $10 Inactivity Fee: It imposes a $10 inactivity fee if your account remains dormant for 30 consecutive days. Inactivity fees are typically applied to encourage active trading and maintain account activity.
- No Withdrawal Fees: There are no fees associated with withdrawing your funds from your account. They cover those costs. However, your bank or wallet could be charging a withdrawal or deposit fee. So if you have received less money than you thought, you should contact their support.
Knowing these costs and charges on Quotex and Olymp Trade can help you make smart choices when you’re investing your money.
4. Deposit and Withdrawal methods
When it comes to trading on platforms like Quotex and Olymp Trade, having convenient and secure deposit and withdrawal methods is essential for a seamless trading experience. Both platforms understand the importance of providing their users with a variety of options to manage their funds efficiently.
Quotex:
- Debit and Credit Cards
- Internet Banking
- E-wallets
- Cryptocurrencies
Olymp Trade:
- Credit/Debit Cards
- Neteller
- Skrill
- Bitcoin
- WebMoney
- FasaPay
- Bank Wire Transfer
5. Asset Variety
Quotex and Olymp Trade are both online trading platforms that primarily focus on binary options trading. However, they may offer additional trading assets and instruments to cater to a broader range of traders. Let’s compare the asset variety of these two platforms.
Quotex:
- Binary Options: Quotex is primarily known for binary options trading. Binary options allow traders to speculate on the price movement of various assets, such as currencies, commodities, stocks, and indices.
- Assets: It offers a relatively limited range of assets compared to some other trading platforms. However, it covers major currency pairs, commodities like gold and oil, popular indices, and a selection of stocks.
- Crypto: It may also offer trading in cryptocurrencies like Bitcoin and Ethereum. However, the availability of cryptocurrencies on the platform may be more limited than on specialized crypto exchanges.
Olymp Trade:
- Binary and Digital Options: Like Quotex, Olymp Trade also specializes in binary options trading. In addition to binary options, they offer digital options, which allow for more flexible trading strategies.
- Assets: It provides a broader range of assets compared to Quotex. Traders can access various currency pairs, commodities, popular indices, and a more extensive selection of stocks.
- Crypto: It had started to introduce cryptocurrency trading. They offered several cryptocurrency pairs for trading, including BTC/USD, ETH/USD, and others.
- Forex: It also provides access to the foreign exchange market (Forex), allowing traders to engage in traditional Forex trading with currency pairs.
6. Demo Account
Demo account is a valuable tool for both beginner and experienced traders. It offers a risk-free environment for traders to practice their trading strategies and become familiar with the platform. Here are some key features and benefits of Quotex and Olymp Trade’s demo account:
Quotex:
- Demo Account Balance: Quotex provides a demo account with a virtual balance of $10,000. This allows traders to simulate trading activities with a substantial amount of virtual funds.
- Features: Its demo account typically mirrors the features of its live trading platform. Traders can use the virtual funds to trade various assets, including binary options and other financial instruments. It allows traders to practice and test their trading strategies without risking real money.
- Realistic Environment: It aims to create a realistic trading environment in its demo account, which includes real-time price feeds and market conditions. This helps traders get a feel for how trading works on their platform.
- Educational Resources: Some trading platforms, including Quotex, may offer educational resources and tutorials to assist traders in learning how to use their platform effectively and improve their trading skills.
Binomo:
- Demo Account Balance: Similarly to Quotex, Olymp Trade offers a demo account with a virtual balance of $10,000.
- Features: Its demo account allows traders to practice trading various financial instruments, primarily focusing on binary options. It provides traders a risk-free environment to learn how to use their trading platform and develop trading strategies.
- Realistic Environment: It aims to create a realistic trading environment in its demo account, offering real-time market data and price quotes.
- Educational Materials: Trade may provide educational materials and resources to help traders understand binary options trading and how to use their platform effectively.
7. Trading Platform Interface
Quotex and Olymp Trade are both online trading platforms that cater to traders interested in various financial instruments, including binary options, forex, and more. However, determining which one is better depends on your specific trading preferences and requirements.
Olymp Trade is a well-established platform with a user-friendly interface that is suitable for both novice and experienced traders. It offers a wide range of assets to trade, including currencies, commodities, stocks, and cryptocurrencies. The platform provides various educational resources, such as webinars and tutorials, making it an attractive choice for beginners. Olymp Trade also offers a mobile app for traders on the go.
On the other hand, Quotex is known for its simplicity and transparency. It focuses exclusively on binary options trading and is designed for quick and straightforward trading decisions. Quotex offers a limited range of assets compared to Olymp Trade but is preferred by traders who want a more streamlined trading experience. It’s worth noting that Quotex has gained popularity for its innovative features like tournaments and social trading.
8. Regulation and Trustworthiness
Regulation is a crucial factor in evaluating the safety and reliability of a trading platform. Quotex is regulated by the International Financial Market Relations Regulation Center (IFMRRC). While this provides a certain level of oversight, it’s essential to note that IFMRRC’s regulatory standards the IFMRRC is not like regular financial regulators. They are an independent international group. This means Quotex doesn’t have to follow specific rules from any one country.
Olymp Trade, on the other hand, is regulated by the Financial Commission (FinaCom), a respected authority in the financial industry. FinaCom’s oversight adds an extra layer of security and trustworthiness to the platform. They offer a reimbursement of up to $20,000 real money for any illegal acts. The money is sourced from the Compensation Fund.
10. Mobile Trading App
Many people now trade on their mobile phones, and companies like Quotex and Olymp Trade have made it easier by creating special smartphone trading platforms.
Quotex:
Quotex offers a convenient mobile app that you can get from Google Play or the Apple App Store. You can also access their platform on the internet using any mobile web browser.
With this app, it’s easy for users to keep an eye on the markets and make trades with just a few taps. The Quotex mobile app includes helpful charts, indicators, and drawing tools. Plus, it gives you access to a wide range of more than 400 different assets to trade.
Olymp Trade:
Olymp Trade’s mobile trading app is designed for traders who like to use their mobile devices for trading. It has a lot of useful features for real-time trading, and you can use it on both iOS and Android devices. It’s easy to use, and it gives traders the freedom to trade whenever and wherever they want, with all the necessary trading tools at their fingertips.
Trading Bonus and Conditions
Quotex and Olymp Trade both provide attractive bonuses and trading terms to draw in traders looking for opportunities in financial markets. These bonuses can greatly affect your trading experience, but they have specific rules and conditions that you should carefully understand and take into account.
Quotex:
Trading with Quotex offers the potential for significant earnings when accurately predicting volatile market movements. This binary option platform also provides enticing bonuses. Let’s delve into the key trading conditions offered by Quotex:
- Minimum deposit requirement: $10.
- Lowest trade amount: $1.
- Maximum trade amount: $1,000.
- Potential yield: Up to 95%.
Additionally, Quotex offers tiered deposit bonuses based on the amount deposited in USD, as illustrated in the table below:
- 20% bonus for deposits of $50 or more
- 25% bonus for deposits of $100 or more
- 30% bonus for deposits of $150 or more
- 35% bonus for deposits of $300 or more.
Olymp Trade:
Here’s a breakdown of the key trading conditions and bonuses provided by Olymp Trade:
- Minimum deposit requirement: $10
- Lowest trade amount: $1
- Maximum trade amount: $5,000
- Potential yield: 82 % for Standard, 90 % for VIP accounts
Olymp Trade also offers bonuses to incentivize traders to deposit and trade on their platform. These bonuses are based on the amount of the initial deposit:
- 10% bonus for deposits of $30 to $99
- 25% bonus for deposits of $100 to $199
- 30% bonus for deposits of $200 to $499
- 40% bonus for deposits of $500 to $1999
- 50% bonus for deposits of $2,000 or more.
Country Restrictions
Both Quotex and OlympTrade have country restrictions in place to comply with local regulations and legal requirements.
Quotex has restrictions in place for several specific countries, including the USA, Canada, Indonesia, Hong Kong, EEA countries, and Russia, as well as an age restriction.
Olymp Trade, on the other hand, restricts users from the USA, United Kingdom, Canada, Australia, and Russia, but it has a broader language support system indicating a focus on a wider international audience.
Users should always check the platform’s terms and conditions to ensure they are eligible to use it in their respective countries.
Conclusion: Olymp Trade vs Quotex, Which Platform is Better to Trade?
Choosing between Quotex and Olymp Trade ultimately depends on your specific trading preferences, goals, and experience level. Both platforms offer trading opportunities in the binary options and forex markets, but they have distinct features that may appeal to different traders.
If you are a beginner or prefer simplicity, Quotex may be the better choice for you. It is known for its user-friendly interface, making it suitable for those new to trading. Quotex also offers a free demo account, allowing you to practice without risking real money, which can be invaluable for beginners.
If you have more experience and want more advanced features, Olymp Trade might be the platform of choice. It provides a wide range of trading instruments, including forex, commodities, and cryptocurrencies, catering to more experienced traders. Olymp Trade also offers educational resources and analytics tools, which can be beneficial for traders looking to refine their strategies.
It’s important to note that both platforms come with their own set of risks, as trading involves the potential for financial loss. Conduct thorough research, consider your risk tolerance, and start with small investments or demo accounts before committing significant capital. Additionally, regulatory factors may change over time, so it’s crucial to verify the current status and legality of these platforms in your region before making a decision. Ultimately, the best platform for you will depend on your individual trading needs and goals.
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