Olymp Trade & IQ Option

January 17

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Posted by: Olymp Trade,
 January 17, 2021

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Olymp Trade Vs IQ Option

The first vital decision for a trader is what broker to work through. These companies are intermediaries between clients and the global financial market. IQ Option and Olymp Trade are two famous names in the brokerage industry. Both stand out from the crowd, which is why traders find it difficult to compare them. Let’s look at Olymp Trade vs IQ Option
in 2021.

Olymp Trade VS IQ Option 2021

Background and Regulation

Traders should never trust unregulated brokers. This is why we begin with Olymp Trade vs IQ Option in the legal context. Both companies are officially registered, which means they operate lawfully.

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IQ Option is a Seychelles-based broker that is licensed and regulated by the Cyprus Securities and Exchange Commission (CySec). Founded in 2013, it has clients in many countries and 25+ million subscribers. Several countries are beyond its scope. These are the United States, Canada, Japan, Israel, and a few others.

The broker gives access to 300+ digital assets and an abundance of educational resources. These are useful for beginners and advanced traders alike. So, how does Olymp Trade compare in terms of licensing and geographic reach?

There is little difference. This broker appeared in 2014. Registered in St. Vincent and the Grenadines, it is an A-class member of the International Financial Commission. This honor is granted only to trustworthy companies with a consistently high quality of service. Every client is eligible for compensation of up to 20,000 euros if the company fails ‘to execute the decision of the authority on the dispute’ — i.e., tries to scam them.

Traders who choose to register with the broker access 60+ instruments. Olymp Trade is one of the fastest-growing companies. It claims to execute roughly 30 million trades monthly for 25 million user accounts. Educational content is also plentiful.

Olymp Trade Vs IQ Option: Types of Accounts

Different types of accounts have different capital requirements. A trader needs exposure to the markets they want to trade at an affordable price. Demo accounts are opened by brokers who want their clients to achieve better results and avoid wiping out their accounts from the get-go. First, let’s review the IQ option

IQ Option has three types of trading accounts, including the demo. Clients can practice on the trading terminal free of charge to get a head start. Here, demo accounts are completely free and unlimited. 

The other two types are real and premium. The former requires at least $10 as a minimum deposit, and the latter is an expert option for those who can deposit $3,000 at once. Overall, IQ Option has an account for any budget. However, we can reach the same conclusion when we review Olymp Trade.

The competitor offers a free unlimited demo as well. It includes a replenishable $10,000 virtual deposit. The company has standard and VIP accounts (with $10 and $2,000 deposit requirements, respectively). In general, the account structure is very similar, and traders with a very limited budget can still enter the live market. 

BrokerMinimum DepositMinimum StakeMaximum Payout
Olymp Trade$10$195%
IQ Option$10$192%

Olymp Trade vs IQ Option: Range of Instruments

IQ option gives access to 300+ assets across different markets. These include:

  • currencies (Major, Minor, Exotic),
  • stocks (eBay, Twitter Inc., Adobe, PayPal, etc.),
  • cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.), 
  • digital options, and
  • binary options.

Olymp Trade Offers 60+ instruments in total. A detailed overview of its offerings is available on the login page. These are:

  • currencies (Major, Minor, Exotic),
  • commodities (Brent, Copper, Gold, etc.), 
  • stocks (Alibaba, Amazon, Apple, Boeing, etc.), 
  • indices (Dow Jones, Asia Composite Index, Basic Dollar Index, etc.), 
  • ETFs (ETF NASDAQ, ETF S&P 500, ETF U.S. Retail Estate, etc.), 
  • cryptocurrencies (Bitcoin, Ethereum, Litecoin, etc.), and 
  • OTC (Gold OTC, currency OTCs, etc.).
olymp trade

Olymp Trade vs IQ Option: Trading Instruments

All experts who review Olymp Trade against its rival note that it is more geared towards currencies and CFDs. In terms of range, it is more similar to the Expert Option. IQ Option, on the other hand, places a strong emphasis on binary options and digital options, although the same instruments are also offered. 

Forex Pairs

Forex traders work in the largest financial market in the world. Its daily turnover exceeds 6 trillion US dollars. This is how much money circulates between institutional and retail investors. Even though the share of retails trades is relatively modest, the profit potential is impressive. Individuals make predictions about the movements of their instruments (currency pairs). 

All currencies are traded against one another, and their rates are affected by economic and political factors. Using technical indicators embedded in the platforms, clients of both brokers may identify patterns on their price charts. They may adjust timescales to analyze long-term and short-term movements. 

The IQ option site provides a wealth of information for fundamental traders as well. Its calendars allow them to keep abreast of major events expected to sway the markets. Top market news is indispensable for clients who prefer fundamentals. 

 How Binary Options Work

Through binary options, traders may speculate on movements of prices in different markets: stocks, forex, indices, and commodities. This trading instrument offers a guaranteed result for an accurate prediction. Potential return may reach 95% for traders who fail to lose money. Binary options have different expiration times — from a minute to the end of the month. 

How Digital Options Work

In comparison with fx pairs, these instruments also belong to the Expert Option range. Holders of digital options speculate on the degree of price change — not only its direction. A trader defines the threshold known as the ‘strike price.’ If it is triggered before the option expires, they collect profit that may be as high as 900%. The lower the probability of triggering — the higher the payout. If the prediction fails, they only lose their deposit. 

Options are divided into two groups: put and call. Traders place put options when they expect the closing price to be lower than the opening price. Call options imply the opposite prediction — i.e., a rise.

How CFDs Work

It is important to note that both brokers provide trading of stocks, cryptocurrencies, and commodities by means of CFDs or Contracts for Difference. These are virtual derivatives whose price is linked to the underlying assets. Their key benefit is that holders speculate on the assets without owning them. For example, someone buying and selling CFDs on Brent profits from predictions of price change alone: no physical barrels change hands. 

CFDs are attractive to many traders due to their variety, accessibility, and leveraged nature. When clients trade on margin, they may boost their buying power with a portion of the brokers’ funds (leverage). For example, on the IQ Option platform, this is done by selecting the multiplier value on the right side of the screen.

Due to leverage, CFDs are riskier than other instruments. Both websites feature a risk warning. The brokers inform clients that they may lose money unless they have a solid strategy. CFDs are an expert option, rather than a tool for beginners.

On both platforms, traders may set Stop Loss and Take Profit values to limit potential losses and secure a desirable amount of profit. Both features allow a limit order to be executed automatically once a certain price level is reached.

Olymp Trade vs IQ Option Trading Instruments

Olymp Trade Vs IQ Option: Education

In addition to free demo accounts, IQ Option offers detailed video tutorials, articles, strategies, and more. This is a real treasure trove for any beginner. The blog provides an analysis of common strategies and effects of major events, gives insights and tips for consistent profits. At the moment, the website features clips in the following categories:

  1. Basics
  2. Options Trading
  3. CFD Trading
  4. Margin Trading
  5. Technical Analysis
  6. Fundamental Analysis
  7. Market News
  8. Crypto Digest
  9. About Us

Olymp Trade provides an abundance of educational content, but the website features articles and summaries rather than videos. Visitors may read about different instruments, the basics of trading, bears and bulls, recommended strategies, etc. Attention is also paid to the psychology of trading — an important topic that is often overlooked. Articles are grouped in the following categories: 

  • About Trading
  • Assets
  • Bulls and Bears
  • Trading Platform
  • Exchange Trading Hours
  • The Most dangerous Emotions of a Trader
  • What Are Trading Strategies And What Are They for?

Olymp Trade Vs IQ Option: Education

In addition to free demo accounts, IQ Option offers detailed video tutorials, articles, strategies, and more. This is a real treasure trove for any beginner. The blog provides an analysis of common strategies and effects of major events, gives insights and tips for consistent profits. At the moment, the website features clips in the following categories:

  1. Basics
  2. Options Trading
  3. CFD Trading
  4. Margin Trading
  5. Technical Analysis
  6. Fundamental Analysis
  7. Market News
  8. Crypto Digest
  9. About Us

Olymp Trade provides an abundance of educational content, but the website features articles and summaries rather than videos. Visitors may read about different instruments, the basics of trading, bears and bulls, recommended strategies, etc. Attention is also paid to the psychology of trading — an important topic that is often overlooked. Articles are grouped in the following categories: 

  • About Trading
  • Assets
  • Bulls and Bears
  • Trading Platform
  • Exchange Trading Hours
  • The Most dangerous Emotions of a Trader
  • What Are Trading Strategies And What Are They for?
IQ Option Platform
IQOption platform

Olymp Trade vs IQ Option: Payments 2021

Traders may fund their accounts using the desktop or mobile version of the trading terminal. Neither of the brokers charges a service fee. There are no fees for deposit or withdrawal, either. However, both companies have special fees for inactive accounts. First, let’s review the IQ Option methods.

Payments via IQ Option

The payment methods accepted by IQ Broker are largely the same. The size of the minimum deposit is $/10/£10/€10. Most clients prefer e-wallets (Skrill, Neteller, PayPal) over bank cards as the processing times are shorter. The standard maximum time limit is two business days. 

IQ Option has special conditions for passive users. The fee is charged if the client makes no trades over 90 calendar days in a row. The size of the free is 10 Euros to the unused balance. The amount may never exceed the size of the available funds. This measure is imposed in accordance with non-trading regulations and KYC/AML Policy.

IQ Option payment metods
*Payment methods depend on the country of residence of the trader

Payments via Olymp Trade 

The company accepts MasterCard and Visa, major cryptocurrencies, and different e-wallets, including Neteller, Skrill, WebMoney, and Perfect Money. Clients may add their payment cards to the system to enable 1-click deposits. Processing times vary depending on the payment method. The longest allowed duration is five business days, although this is an exception. 

Withdrawals are performed using the method of depositing. A request may be submitted via the desktop or mobile system. If the trader has made two payments via different methods, they need to split the amount and request two withdrawals proportional to their deposits. The minimum deposit is $10/€10/R50. 

Olymp Trade has its own conditions with regard to inactive accounts. Holders of live accounts who do not make any trades over a month are charged a $10 inactivity fee. The amount equals the available balance if it is lower. If the balance is 0, no fee is charged. 

Olymp Trade payment
*Payment methods depend on the country of residence of the trader

Olymp Trade Vs IQ Option: Rewards and Incentives

IQ Option holds trading tournaments regularly. Olymp Trade keeps members inspired by regular bonuses. At the moment, it is advertising a 100% match bonus for the first deposit. This means the company doubles the trader’s investment automatically. As with any typical broker bonuses, these incentives have special withdrawal conditions — traders need to reach a particular profit level to qualify for cashing out. 

The Bottom Line

So, in 2021 Olymp Trade vs IQ Option: which is better? IQ Option is focused on binary options, just as its name would suggest. It provides educational resources on the subject of different types of their instruments. This is the biggest difference.

As clients gain experience, they can gradually build diversified portfolios across markets with either company. Both brokers offer services for beginners and experienced traders. However, complete novices may find Olymp Trade preferable, as it has more focus on Forex — it is more similar to the Expert Option broker. 

In terms of accessibility and support, the companies are equally attractive. Their proprietary platforms may work as browser-based systems, desktop apps (Windows and macOS), and smartphone apps (Android and iOS). Olymp Trade also offers trading via MetaTrader 4.The two brokers have very similar conditions in terms of minimum deposit and the lowest withdrawal threshold. Both websites feature a risk warning in relation to leveraged trades, which shows that the brokers are open about the nature of the instruments.

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