Wed. Apr 17th, 2024

IQ Option vs Olymp Trade.
In this comparison we will take a look at IQ Option vs Olymp Trade. Comparing brokers is not always easy. We will take a look at IQ Option and Olymp trade and break down the pros and cons of both. Between both IQ Option is the better choice. IQ Option has more markets available, the company has been around for longer, allows Islamic Accounts, and has more deposit methods available. Their trading platform won many awards. Olymp Trade is a better choice if you reside in the USA or any of the IQ Option banned countries.
IQ Option is a trading platform, offering a wide range of investment options through CFDs ,derivatives like binary and digital options. Full Review.
Olymp Trade is a popular online broker, serving over 25,000 active traders every day. They offer stocks, commodoties, ETFs, Cryptocurreny, and Forex.
Types of Products And Markets Available.
When comparing the types of markets offered, IQ Option is better. IQ Option offers more markets and instruments you can trade. In total they offer 262 CFDs and binary options. Olymp Trade offers 102 CFDs and doesn’t allow binary options. Visit IQ Option.
IQ Option Olymp Trade Markets Available: Options, Forex, Stocks, Crypto, Commodities, ETF, Indices Commodities, Stocks, Indices, ETF, Currencies, Crypto CFDs Total Yes ✔️ 262 Yes ✔️ 102 Forex Pairs Yes ✔️ 41 Yes ✔️ 35 Stocks Yes ✔️ 181 Yes ✔️ 37 Cryptocurrencies Yes ✔️ 12 Yes ✔️ 3 Commodities Yes ✔️ 4 Yes ✔️ 6 ETFs Yes ✔️ 24 Yes ✔️ 4 Options Yes ✔️ No ❌ EFPs No ❌ No ❌ Mutual Funds No ❌ No❌ Robo Portfolios No ❌ No ❌
Trading Platforms.
When comparing the trading platforms, both brokers offer good proprietary platforms and mobile trading apps. IQ Option doesn’t have a desktop platform available, while Olymp Trade does. Both iOS and Android is supported.
Comparing the awards their platforms received, IQ option has 15 and Olymp Trade won 4.
IQ Option Olymp Trade Proprietary Platform: Yes ✔️ Yes ✔️ Desktop Platform: ❌ Yes ✔️ MacOs, Windows Mobile App: Yes ✔️ iOS, Android Yes ✔️ iOS, Android Web Trading Platform: Yes ✔️ Yes ✔️ MetaTrader: No ❌ No ❌ cTrader: No ❌ No ❌ Mirror Trader: No ❌ No ❌ Zulu Trade: No ❌ No ❌ Dupli Trade: No ❌ No ❌
It is hard to compare fees of brokers. Some brokers don’t charge commissions, but charge higher spreads. Spreads also vary on market conditions, volatility, liquidity and more. Overall, both are close. IQ Option has a withdrawal fee that Olymp Trade doesn’t charge. If you want to withdraw funds multiple times to your bank account via wire transfer, Olymp Trade is better.
IQ Option Olymp Trade Trading Fees: Yes ✔️ Spread Varies Yes ✔️ Spread Varies Deposit Fees: No ❌ No ❌ Withdrawal Fees: $31 (Bank Transfer) $0 (Credit Cards, eWallets) $0 (Bank Transfer) $0 (Credit Cards, eWallets) Overnight Funding: Yes ✔️ Yes ✔️ Inactivity Fee: Yes ✔️ $10/month Yes ✔️ $10/month.
Customer Support.
Customer support is great on both platforms. Both offer email, online chat and phone support. Olymp trade has 2 more languages, but IQ Option support is quicker. The average response time for chat support is 43 seconds and 20 minutes for email. IQoption is better for their customer support.
IQ Option Olymp Trade eMail: Yes ✔️ Yes ✔️ Online Chat: Yes ✔️ Yes ✔️ Phone Support: Yes ✔️ Yes ✔️ Languages: 13 15.
Account Funding.
Both have all the major deposit methods available, while IQ Option offers a few more. For most users both have a good selection of payment methods.
IQ Option Olymp Trade Deposit Methods: Visa, MasterCard, Maestro, Visa Electron, Neteller, Skrill, WebMoney, PayPal, Wire Transfer, Bitcoin, eWallets Visa, MasterCard, Skrill, AstroPay, WebMoney, Bitcoin, BanCo, BBVA Frances Deposit Fee: No ❌ No ❌
Education.
Looking at the educational resources, both IQ option and Olymp trade offer webinars and video tutorials. We give this one to IQ option as the webinars are better and frequent.
IQ Option Olymp Trade Video Tutorials: Yes ✔️ Yes ✔️ Webinars: Yes ✔️ Yes ✔️.
Verdict.
So which is better? IQ Option or Olymp Trade? We picked IQ Option as the better broker. They offer more markets, have fast execution times, and great 24/7 customer support. Their trading fees are good, and their trading platform won many awards. The multichart layout, historical quotes, technical analysis, alerts, risk management tools, and the trading community make IQ Option a better choice.