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 Olymp Trade
Compare IQ Option
IQ Option is a trading platform, offering a wide range of investment options through CFDs ,derivatives like binary and digital options.
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Compare Olymp Trade
Olymp Trade is a popular online broker, serving over 25,000 active traders every day. They offer stocks, commodoties, ETFs, Cryptocurreny, and Forex.
Year founded:
2013 2014
Regulated by:
CySec FinaCom
Headquarters:
Limassol, Cyprus St. Vincent and the Grenadines
Is a Bank:
No ❌ No ❌
Demo Account:
Yes ✔️ Yes ✔️
Minimum Deposit:
$10 $10
Minimum Trade:
$1 $1
Islamic Account:
Yes ✔️ No ❌
Social/Copy Trading:
No ❌ No ❌
Spread Betting:
No ❌ No ❌
Excluded countries:
Albania, Afghanistan, Australia, Belgium, Canada, Iran, Israel, Japan, Latvia, North Korea, Palestine, Portugal, Russia, South Sudan, Syria, USA USA, Canada, Israel, Australia, Russia, Europe

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.

Overall, IQ Option is better for their trading platform.

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 ❌

Fees

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.

Compare IQ Option

IQ Option

  • Award Winning Platform
  • Payouts up to 900%
  • Regulated by CySec
  • Great selection of financial assets

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IQ Option vs Olymp Trade
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