Choosing between Olymp Trade and Pocket Option can be a challenging task for traders. Olymp Trade is renowned for its user-friendly interface and extensive educational resources. On the other hand, Pocket Option is celebrated for its extensive list of assets and innovative social trading features that appeal to both new and experienced traders.
In this article, we will conduct an in-depth comparison of Olymp Trade and Pocket Option, examining the key aspects of each platform to help you make an informed decision. We will look at their trading tools, asset availability, customer support, and much more to give you a clear understanding of what each platform has to offer.
What you will read in this Post
Olymp Trade vs. Pocket Option comparison chart
See the key facts about both brokers here:
| Specification | Olymp Trade | Pocket Option |
|---|---|---|
| Rating (based on this comparison): | 7/10 | 9/10 |
| Demo account: | Yes | Yes |
| Minimum deposit: | $10 | $50 |
| Minimum withdrawal: | $10 | $10 |
| Assets: | 200+ | 100+ |
| Deposit and withdrawal methods: | Credit Card, (Visa/Master), Skrill, Neteller, WebMoney, Bitcoin, Yandex, Qiwi, ePayments | Credit cards, debit cards, bank transfers, electronic payments |
| Regulation: | IFC | IFMRRC |
| Mobile trading: | Yes | Yes |
| Social trading: | No | Yes |
| Copy Trading: | Available | Available |
| Margin trading: | Available | Available |
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Detailed comparison between Olymp Trade and Pocket Option
Now, we will compare some of the key criteria of these two platforms to help you choose the right one. The comparison will be based on trading types, payouts, deposits, withdrawals, customer support, and assets. Stay tuned!
Trade types and payout
Pocket Option is known to offer a single trade type, but it is the best and quickest way to get an impressive payout.
The simple high/low options of the Pocket Option make it suitable for beginners. That’s because it offers some of the simplest types of trading available on the market. To trade high/low options, all you need to do is set a time limit. You simply speculate whether the price of an asset will rise or fall from the time you set the clock. It is as simple as that!
A high/low option is ideal for traders who want to make money quickly. Traders who are new to the world of binary options trading also use this trading option to understand how the market works. They usually set the timer to 60 seconds. However, those who want to play for longer can set the timer to one hour.
Good to know: Pocket Option is one of the few trading brokers that can offer high payouts to traders. 50% is the lowest payout a trader can expect. If you perform better, you can expect a much higher payout. Typically, experienced traders will receive between 80% and 100%.
Now, let us take a closer look at Olymp Trade.
Similar to Pocket Option, Olymp Trade offers a single type of trade, high/low. Traders registered with this broker usually set a maximum time limit of 24 hours.
The payout offered by Olymp Trade depends on the type of account you are trading with. For example, if you have a Starter account, you can expect a payout of 82%, and if you have an Advanced account, you can expect a payout of 84%. But if you have an Expert account, you will get a payout of 92%.
| Specification | Olymp Trade | Pocket Option |
|---|---|---|
| Rating (based on this comparison): | 7/10 | 10/10 |
| Trade Types: | High/Low, 60 Second Trades | High/Low, Turbo |
| Payout (Starter Account): | 82% | 50% – 218% |
| Payout (Advanced Account): | 84% | 50% – 218% |
| Payout (Expert Account): | 92% | 50% – 218% |
| Payout (VIP Account): | 82% – 92% | 50% – 218% |
| Maximum Payout: | 92% | 218% |
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Deposits and withdrawals
Let’s take a closer look at the deposit and withdrawal methods of each platform. In fact, Pocket Option has a very simple and easy-to-use deposit and withdrawal method. After registering with this trading platform, you will need to verify your account by providing the required identification documents.
After that, you are required to make a minimum Pocket Option deposit of $50. You can fund your trading account through different payment options. Commonly accepted deposit methods include credit cards, cryptocurrencies, and e-wallets.
Since Pocket Option supports a variety of payment methods, you can easily fund your account. The minimum Pocket Option withdrawal amount is $10. In addition, this trading broker does not charge any commission fees. This means that the amount you withdraw is exactly the amount your bank account receives. There is no deduction.
However, you may have to pay a small fee when you convert the currency as some banks charge this. You need to be aware of these additional charges to avoid unexpected costs.
Similar to Pocket Option, Olymp Trade accepts a variety of deposit methods, including bank transfers, e-payments, cryptocurrencies, and credit and debit cards. Traders can easily fund their accounts with no additional fees.
As an Olymp Trade customer, you can only withdraw an amount greater than $10. After you request the withdrawal, the funds will be sent to the payment method you used to deposit the money.
If you have a VIP account, your Olymp Trade withdrawal request will be processed within a few hours, but it may take longer for Standard Trading account holders. In unfortunate circumstances, the withdrawal process can take up to 3 days.
| Specification | Olymp Trade | Pocket Option |
|---|---|---|
| Rating (based on this comparison): | 7/10 | 7/10 |
| Minimum Deposit: | $10 | $50 |
| Minimum Withdrawal: | $10 | $10 |
| Deposit Methods: | Various including bank transfers, e-payments, cryptocurrencies, and cards | Various including credit cards, cryptocurrencies, and e-wallets |
| Withdrawal Speed (VIP Account): | Few hours, maximum 1-3 business days | Few hours, maximum 1-3 business days |
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Customer support
If you have any problems using Pocket Option, you can easily contact their support team. Traders receive 24/7 customer service via phone and email. In addition, you can reach them through social media sites such as Instagram, Twitter, Facebook and many others.
If you would like to contact Pocket Option Support, simply fill out the form on their website. Once submitted, the Pocket Option support group will contact you in a timely manner.
On the other hand, Olymp Trade’s customer support is also available around the clock. Traders can get help by phone, email and live chat. If a trader has a VIP account, they can enjoy enhanced customer support.
This means that if a trader’s query is not resolved within 14 days, the trader can lodge a complaint with FinaCom.
| Specification | Olymp Trade | Pocket Option |
|---|---|---|
| Rating (based on this comparison): | 8/10 | 10/10 |
| Support Availability: | 24/7 | 24/7 |
| Contact Methods: | Phone, Email, Live Chat | Phone, Email, Social Media |
| Enhanced Support (VIP Account): | Yes | Yes (24/7 support, priority withdrawal) |
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Assets
When you register with Pocket Option, you can choose from 130 different assets across five categories. The categories include Cryptocurrencies, Stocks, Indices, Forex and Commodities.
When you visit the Pocket Option website, you can see the list of assets that clients can trade with this broker. The list also mentions the payout percentage that traders can expect. Finally, the list includes information about OTC and general assets.
Like Pocket Option, Olymp Trade offers a wide range of trading assets. Traders can choose from 79 impressive financial instruments, including 10 indices, 13 stocks, 5 ETFs, 36 currency pairs, 6 commodities, and 9 cryptocurrencies.
| Specification | Olymp Trade | Pocket Option |
|---|---|---|
| Rating (based on this comparison): | 6/10 | 8/10 |
| Total Number of Assets: | 79 | 130 |
| Types of Assets: | Indices, Stocks, ETFs, Currency Pairs, Commodities, Cryptocurrencies | Cryptocurrencies, Stocks, Indices, Forex, Commodities |
A quick overview of Pocket Option and Olymp Trade platforms
Pocket Option and Olymp Trade have become reliable trading platforms, so it is helpful to get a quick overview of both platforms. None of them have a history of scamming traders. But are they similar or is there a difference? Read on for the answer.
What is Olymp Trade?
Olymp Trade is a trading broker established in 2014. It allows the trading of various assets, including commodities, stocks, currency pairs, and cryptocurrencies.
Good to know: Traders registered on the platform must correctly speculate on the price of an asset. If the speculation turns out to be correct, the trader wins the payout. If not, the trader loses all funds deposited.
Although many traders use Olymp Trade, it has certain advantages and disadvantages. However, the pros of this broker outweigh the cons, making it a reliable option.
If you are a client of Olymp Trade, you will need to monitor the market closely and use their trading tools, as this platform offers some pretty unique features. Let us take a closer look at the benefits of Olymp Trade!
(Risk warning: You capital can be at risk)
Benefits
- One thing that makes Olymp Trade different from others is its low Olymp Trade deposit fee.
- Any trader can open an account with them by paying $10. It also offers 70 assets so that traders can choose from a variety of options.
- Registered traders can also access demo accounts to practice their trading skills.
- Furthermore, they can use trading tools and signals in the demo account to get an idea of real trading.
Drawbacks
The only downside to this impressive trading platform is that it does not support US and EU traders.
(Risk warning: You capital can be at risk)
What is Pocket Option?
Pocket Option is also a trusted trading broker owned by Gembell Limited. The platform was launched in 2017 and is legally regulated by the Financial Market Relations Regulation Centre.
This broker offers more than 100 assets and supports different trading strategies, allowing traders to achieve great profitability.
Due to the uncertainty of the market, binary options trading has a bad reputation, but Pocket Option is one of the few reliable brokers that many traders trust. Mainly because it is transparent and easy to create an ID with. Whether you are a new trader or an experienced one, you will be impressed with Pocket Option.
(Risk warning: You capital can be at risk)
Benefits
One thing that makes Pocket Option so popular is its assets. The variety of assets keeps traders interested and helps them win trades.
In addition, Pocket Option offers its registered traders instant access to social trading. The fast pass saves traders from wasting time and energy. Finally, it comes with a $50,000 tournament prize.
Drawbacks
The disadvantage of the Pocket Option is that the IFMRRC is not its official regulator. As a result, the broker has limited funding options.
(Risk warning: You capital can be at risk)
Conclusion: Pocket Option wins the comparison
In conclusion, both Olymp Trade and Pocket Option are excellent trading platforms, but Pocket Option clearly wins our comparison. Both have their advantages and minor limitations. However, Pocket Option can be considered a superior binary options broker due to its reliability, transparency, and user-friendly interfaces, making it suitable for both new and experienced traders. Therefore, we recommend choosing Pocket Option.
(Risk warning: You capital can be at risk)
(Risk warning: You capital can be at risk)
Frequently asked questions about Olymp Trade vs Pocket Option:
Which platform requires a lower minimum deposit, Olymp Trade or Pocket Option?
Olymp Trade is more favorable for traders on a limited budget, requiring a minimum deposit of just $10, which is significantly lower than Pocket Option’s $50. This low barrier to entry makes Olymp Trade an attractive option for new traders or those wishing to test the platform without a large initial investment.
Can I practice trading both Olymp Trade and Pocket Option on a demo account?
Yes, both Olymp Trade and Pocket Option prioritize training and practice by offering demo accounts to their users. These accounts are loaded with virtual funds, allowing traders to simulate trading activity, test strategies and familiarise themselves with the platform’s features without risking real money.
Between Olymp Trade and Pocket Option, which platform offers a greater variety of assets?
Pocket Option leads the way in terms of asset diversity with a selection of over 100 trading assets, while Olymp Trade offers a comprehensive range of around 79 assets. Pocket Option’s extensive list of assets ensures that traders have ample opportunity to diversify their trading portfolio and explore different markets.
How does Olymp Trade’s customer support compare to Pocket Option’s?
Both Olymp Trade and Pocket Option are committed to providing exceptional customer support 24/7 through multiple channels including phone, email and live chat. This ensures that users receive timely assistance whenever they need it. Olymp Trade, powered by FinaCom, offers an additional layer of support, allowing traders to escalate their issues if they are not resolved within 14 days.
Pocket Option vs Olymp Trade: Which one is more suitable for beginners?
Both platforms are designed with beginners in mind, with user-friendly interfaces, educational resources and demo accounts. However, Pocket Option has a slight advantage for newcomers due to its straightforward high/low options, instant access to social trading and a diverse range of assets to suit different trading preferences.
