If you are currently researching different binary options brokers that might suit you, then you are probably asking yourself the following question: Olymp Trade vs. Binomo – Which is better?
This is justified, as new binary options traders often find it difficult to choose a reliable trading platform. Many brokers claim to be the best, which makes it all the more important to find out who does what they say they do.
In this article, we will make a detailed comparison between Binomo and Olymp Trade. We will give an honest review, and compare their features, trading conditions, and more so that you can find the right one between these two trading brokers.
100+ Markets
- Professional Platform
- Free Demo Account
- $10 Minimum Deposit
- Webinars and Education
- High Payouts
50+ Markets
- Low minimum deposit of $10
- Easy platform to use
- $1,000 demo account
- Fast payouts
- Free bonuses
- Trading contests
100+ Markets
- Professional Platform
- Free Demo Account
- $10 Minimum Deposit
- Webinars and Education
- High Payouts
from $10
(Risk warning: Trading is risky)
50+ Markets
- Low minimum deposit of $10
- Easy platform to use
- $1,000 demo account
- Fast payouts
- Free bonuses
- Trading contests
from $10
(Risk warning: Trading is risky)
What you will read in this Post
Olymp Trade vs. Binomo features comparison
See the core facts of both brokers here:
(Risk warning: You capital can be at risk)
A detailed comparison between Olymp Trade and Binomo
Here we will make a detailed comparison of some key criteria of these two platforms to help you choose the right one. The areas of evaluation will be reputation level, traffic, trading support programs, popularity, deposits, withdrawals, weekend trading, account types, and trading types. Stay tuned!
Reputation level
In terms of reputation, Binomo and Olymp Trade are very popular among traders. That’s because they are both category A brokers and members of the Financial Commission.
If individuals trading binary options on either of these platforms lose money illegally, they can receive compensation of up to €20,000. This shows that Binomo and Olymp Trade are transparent trading platforms that do not believe in cheating their clients.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 8/10 | 8/10 |
Reputation: | Category A broker, Member of Financial Commission | Category A broker, Member of Financial Commission |
Compensation: | Up to €20,000 | Up to €20,000 |
Popularity level
In terms of popularity, the two trading platforms are quite similar. It would be helpful to compare them in thriving countries like Russia, Vietnam, India, and more.
Talking about popularity by region, it is revealed that Olymp Trade gets more attention than Binomo. So you can conclude that Olymp Trade has a slightly better reputation than Binomo.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 7/10 | 5/10 |
Popularity: | More attention in regions like Russia, Vietnam, India | Similar, slightly less attention |
Online rankings and traffic
Amazon’s Alexa tools have revealed that when it comes to global online rankings, Olymp Trade is way ahead of Binomo. To be precise, Olymp Trade is ranked 1269 globally, while Binomo is ranked 7587.
The largest country with the most traffic is India, which accounts for almost 1/3 of the global traffic for both platforms. In short, Olymp Trade dominates Binomo in terms of online rankings and traffic.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 9/10 | 6/10 |
Global online rankings: | 1269 | 7587 |
(Risk warning: You capital can be at risk)
Deposit and withdrawal services
When registering for a trading platform, it’s important to find out about the deposit and withdrawal services. After all, you would not want to use a platform that takes a long time to deposit and withdraw funds. These are important factors that can have a direct and powerful impact on a trader’s rating.
Fortunately, both platforms have smooth deposits and withdrawals. But Olymp Trade wins with its fast service and multiple payment gateways. Binomo, on the other hand, is great for its enthusiastic support. This means that both platforms are similar.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 7/10 | 7/10 |
Maximum Withdrawal Amount: | No limits to the Olymp Trade withdrawal | No limits to the Binomo withdrawal |
Deposit/Withdrawal Fees: | No fees for Olymp Trade deposits & withdrawals | No fees for Binomo deposits & withdrawals |
Withdrawal Duration: | Within 24 hours | A few minutes up to hours (max 5 working days) |
Payment Gateways: | Multiple, including Credit Card, e-Wallets, Cryptocurrencies | Multiple, including Credit Card, e-Wallets, Cryptocurrencies |
Trading support programs
This section compares both trading platforms in terms of promotions, affiliate programmes, and tournaments. It can be seen that Binomo offers these benefits while Olymp Trade doesn’t. This makes Binomo a strong opponent.
The affiliate model that Binomo has allows for revenue models. In addition, this trading broker regularly organises private tournaments so that registered traders can stay motivated and win a huge payout.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 4/10 | 8/10 |
Promotions: | – | Offers promotions |
Affiliate Programs: | Available | Available |
Tournaments: | – | Available |
Weekend trading with OTC Market
As a registered Binomo trader, you have the opportunity to participate in the OTC market to earn a better income. However, Olymp Trade does not allow its registered traders to do so.
As OTC market trading is allowed, many traders choose Binomo over Olymp Trade.
(Risk warning: You capital can be at risk)
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 0/10 | 10/10 |
OTC Market Trading: | Not available | Available |
Account types and features
When you choose Binomo, you get three types of accounts: Standard, Gold, and VIP. With any of these accounts, you can participate in the tournaments. By depositing $10, you can get access to a Standard account. By depositing $500, you can trade through a Gold account. A Binomo VIP account requires a minimum deposit of $1000.
In comparison, Gold and VIP accounts offer more funds to trade with. With a Gold account, you can expect a 150% bonus, a 90% payout rate, faster withdrawals, and a 5% cashback. Similarly, a VIP account offers the largest market for trading.
With a VIP account, traders can expect withdrawals within 4 hours, a 90% payout rate, a deposit bonus of up to 200%, a personal manager, insurance, 200% cashback, prizes, and risk-free trading.
A demo account is available for all three trading accounts. In addition, you can trade during Happy Hour with any trading account.
On the other hand, if you register with Olymp Trade, you can choose from three accounts, including Starter, Advanced and Expert. By making a low minimum deposit of $10, you can gain access to a Standard account. The maximum amount you can deposit into this account is $499.
An Advanced trading account is available with a minimum deposit of $500 and a maximum deposit of $1999. And if you are serious about trading, you can choose an Expert trading account by depositing $2000.
A Starter account gives you access to free educational and basic trading features. With an Advanced account, you get monthly analyst consultations, weekly private webinars, funds, withdrawals, and pre-configured trading strategies.
The Expert Trading Account comes with weekly analyst consultations, exclusive trading ideas, trading signals, and pre-configured strategies. You also benefit from 24-hour withdrawals and private webinars. So if you want a smooth trading experience, you should deposit more.
(Risk warning: You capital can be at risk)
Trade types and payout rates
As a registered Binomo trader, you can trade with Up/Down. You must correctly speculate on the market movement for your trade to end in the money. The maximum payout you can receive from Binomo depends on the type of account you have. With the Standard account, you can earn 85% payout. The Gold and VIP accounts offer a payout of 90%.
Olymp Trade also allows you to trade in an up/down format. With a Starter account, you can expect a payout of 82% and with an Advanced account, you can expect a payout of 84%. However, if you have an Expert account, you will receive a payout of 92%.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 8/10 | 7/10 |
Payout: | 82-92% | 85-90% |
Regulations
The Vanuatu Financial Services Commission regulates Olymp Trade, underlining its commitment to high quality service and customer protection, including deposit insurance. Binomo is also regulated by the International Financial Commission, which adds to its credibility. Neither platform offers European or US regulation, reflecting their target operating markets. However, Olymp Trade’s overall rating is higher, indicating a stronger regulatory position in comparison.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 9/10 | 7/10 |
Regulation: | Vanuatu Financial Services Commission | International Financial Commission |
European Regulation: | No | No |
US Regulation: | No | No |
Other regulators: | – | – |
Bonus programs
Olymp Trade offers an attractive deposit bonus of up to 100% for new traders, adding significant value to the initial investment. Binomo matches this with a promo code that can also double the deposit, but Olymp Trade stands out for its lack of specific turnover requirements to claim the bonus, giving traders more flexibility. While risk-free trading is a feature of Binomo’s VIP account, Olymp Trade’s simple and trader-friendly bonus terms may be more appealing to a wider audience.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 9/10 | 7/10 |
Deposit bonus: | Up to 100% Olymp Trade bonus (welcome bonus) available | Up to 100% Binomo bonus (with promo code) available |
Cashback bonus: | – | – |
Risk-free bonus: | – | Risk-free trades for VIP |
Balance bonus: | – | – |
Percentage of turnover bonus: | – | – |
Bonus turnover: | No specific turnover requirement | Based on leverage factor and deposit amount |
Free lottery: | – | – |
Margin trading
Olymp Trade offers a form of margin trading through its multiplier feature, which works similarly to leverage in Forex trading, increasing both potential profit and risk. Binomo also offers margin trading, which allows traders to control larger positions than their capital would normally allow.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 8/10 | 7/10 |
Margin Trading: | Available (with multiplier as leverage) | Available |
Platform: | Olymp Trade Platform | Binomo Platform |
Auto trading
Auto trading is available on Olymp Trade, which can be a significant advantage for traders looking to implement automated strategies. Binomo’s auto-trading features are only available through third-party software, so traders who prioritize auto-trading features may prefer to use Olymp Trade for this functionality.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 8/10 | 0/10 |
Auto Trading: | Available via an Olymp Trade robot | Not available |
Trading signals
Olymp Trade offers a variety of signals for different assets, including cryptocurrencies, metals, and more, with costs starting at $2. These signals are available on multiple platforms, including iOS, Android, and the web, making them highly accessible to traders. On the other hand, Binomo prides itself on offering highly accurate trading signals. However, in our experience, they are not very accurate. Binomo provides more than 30 signals daily, which can also be used during demo trading, allowing traders to build confidence and formulate effective trading plans.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 9/10 | 6/10 |
Trade signals: | Yes | Yes |
Signal Accuracy: | Up to 95% win rate | Not very accurate from our experience |
Signal Availability: | For various assets including cryptocurrencies and OTC | More than 30 signals per day |
Cost of Signals: | Starts from $2 | Free |
Copy trading
Both Olymp Trade and Binomo offer copy trading features, allowing users to mirror the strategies of successful traders. Olymp Trade scores slightly higher due to its comprehensive platform accessibility and robust community-building aspect. Binomo also facilitates effective copy trading with automated features, but platform accessibility is not as great. Both platforms require users to carefully select traders to follow and consistently monitor their account activity to align with personal trading strategies and risk management.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 9/10 | 8/10 |
Copy Trading Available: | Yes | Yes |
Platform Accessibility: | iOS, Android, Web | Not specified |
Trade Management: | Automated with manual oversight | Automated with manual oversight |
Minimum deposits and withdrawals
In this head-to-head comparison, Olymp Trade emerges as the more favorable platform, with a higher overall rating. Both platforms require a low minimum deposit of just $10, ensuring accessibility for traders with varying budgets. Olymp Trade offers a fast withdrawal process of less than 24 hours, which is a significant advantage over Binomo’s longer withdrawal timeframe. In addition, Olymp Trade offers a variety of payment methods with no deposit or withdrawal fees, enhancing the user experience and financial convenience for traders.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 9/10 | 7/10 |
Minimum deposit: | $10 | $10 |
Deposit/withdrawal fees: | No | No |
Payment methods: | Credit Card, (Visa/Master), Skrill, Neteller, WebMoney, Bitcoin, Yandex, Qiwi, ePayments | Bank transfer, Credit cards, E-Wallets, Crypto |
Withdrawal duration: | Less than 24 hours | A few minutes up to hours (maximum 5 working days) |
Assets and trading conditions
Olymp Trade has a higher rating in the comparison, with a return on investment that can reach up to 92%. Both platforms offer binary options and a wide range of assets, although Olymp Trade does not have the availability of OTC trading. Forex and CFD trading are available on Olymp Trade, allowing for a diverse trading experience.
Specification | Olymp Trade | Binomo |
---|---|---|
Rating (based on this comparison): | 7/10 | 6/10 |
Return on Investment: | Up to 92% | Up to 90% |
Binary Options: | Yes | Yes |
Forex / CFD Trading: | Available | Available |
Assets: | 200+ (including cryptocurrencies, stocks, indices, commodities) | 200+ (including cryptocurrencies, stocks, indices, commodities) |
OTC trading: | Not available | Available |
Trade execution: | 0,5 ms | 0,5 ms |
A quick overview of Binomo and Olymp Trade platforms
Both Olymp Trade and Binomo are household names in the trading world, so it is worth having a quick overview of both brokers. Traders use them to predict market movements and hope for huge payouts. But are both brokers the same, or are there significant differences in their features and pricing? Read on for the answer.
What is Olymp Trade?
Let us start with Olymp Trade. This is a reliable trading platform that supports two forms of trading, namely Forex and Fixed Time Trading. Individuals using this platform need to trade based on the price fluctuations of currency pairs, cryptocurrencies, commodities, and stocks.
With this broker, traders must speculate on the price movement of the asset in order to win the trade correctly. If the speculation is wrong, they will lose all the money they have traded. The secret to not losing money is to know the market and the movement of the asset.
Olymp Trade has some advantages and disadvantages like any other reliable broker. But you must remember that its advantages outweigh its disadvantages, making it a better trading broker.
Benefits
The interesting thing about Olymp Trade is that it has lots of benefits. First of all, the platform offers access to over 70 assets. This means that you have the chance to choose from several options.
In addition, this broker offers several tools and instruments, such as Olymp Trade indicators, which traders can use to better understand the market. Furthermore, it charges a minimum deposit fee of $10, which is low compared to other brokers.
Drawbacks
Although Olymp Trade is a reliable broker, it does have some drawbacks. It is not available to US/EU citizens. Some traders have also reported that this platform can be slow at times.
(Risk warning: You capital can be at risk)
What is Binomo?
Like Olymp Trade, Binomo is an excellent trading broker. It uses derivative tools to make money on the market. The registered traders on this platform have to predict the price movement of assets over a certain period. But if the predictions are wrong, they lose all the money they have traded.
Binomo was founded in 2014 and is managed by Tiburon Corporation Limited. Professional and new traders use this platform because of its transparent terms and conditions.
(Risk warning: You capital can be at risk)
Benefits
If you want to trade using an easy-to-use platform, Binomo is ideal. You can easily use it by making a minimum deposit of $10. Furthermore, you can also get access to the Binomo demo account where you can learn the basics of binary options trading.
What’s better? Well, Binomo allows you to trade in fixed contracts using various strategies available for market predictions. It also organizes tournaments with prizes ranging from $300 to $600.
Drawbacks
A major disadvantage of Binomo is that it is not available for trading in the USA and many European countries. It also offers limited trading contracts, i.e. call/put. Besides, it only offers a small number of assets for trading.
Conclusion: Olymp Trade wins the comparison
In conclusion, when it comes to choosing between Olymp Trade and Binomo, Olymp Trade emerges as the superior platform, earning a higher overall rating. Both platforms are reliable, transparent, and user-friendly, catering to both novice and experienced traders. However, Olymp Trade outperforms Binomo in several aspects such as reputation, online rankings, traffic, and deposit and withdrawal services, making it the preferred choice for binary options trading.
(Risk warning: You capital can be at risk)
Frequently asked questions about Olymp Trade vs Binomo
Which platform, Olymp Trade or Binomo, has a better reputation and higher online rankings and traffic?
When comparing Olymp Trade to Binomo in terms of reputation and online presence, Olymp Trade takes the lead with a significantly better reputation and higher online rankings. It has a global rank of 1269, surpassing Binomo, which has a rank of 7587 according to Amazon’s Alexa tools. This indicates a stronger online presence and trustworthiness of Olymp Trade in the trading community.
Do both Olymp Trade and Binomo offer demo accounts for practice?
Yes, both Olymp Trade and Binomo prioritize education and practice by offering demo accounts to their users. These accounts allow traders to practice and hone their trading skills in a risk-free environment, ensuring they are well-prepared for live trading.
Binomo vs OlymP Trade: Which platform offers better deposit and withdrawal services?
Olymp Trade stands out in the Olymp Trade vs Binomo comparison for its deposit and withdrawal services. It offers faster services and a variety of payment gateways, making financial transactions smoother and more convenient for users, outperforming Binomo in this aspect.
How do the account types and features compare between Olymp Trade and Binomo?
Binomo offers three different account types: Standard, Gold, and VIP, each with unique features and benefits. Olymp Trade, on the other hand, offers Starter, Advanced, and Expert accounts. The Expert account at Olymp Trade is particularly noteworthy as it offers exclusive trading ideas, trading signals, and faster withdrawals, providing a comprehensive trading experience in the Olymp Trade vs Binomo comparison.
Which platform, Olymp Trade or Binomo, allows weekend trading on the OTC market?
In the context of Olymp Trade vs. Binomo, Binomo offers its registered traders the opportunity to participate in the OTC market for weekend trading. This feature is not available on Olymp Trade, giving Binomo an edge for traders who prefer to trade over the weekend.