Quotex vs. Olymp Trade – Which one is the better broker?

Whether you are a beginner or an experienced trader, comparing Quotex and Olymp Trade will help you. Not only have we compared their features and services, but we have also thoroughly researched them.

Are you interested in the ease of use of the interface, the range of assets available, or the reliability of the trading platforms? Or maybe you’re curious about the support and educational resources they offer? We’ll tell you all about it and more.

In this article, we give you the opportunity to look at Quotex and Olymp Trade from different perspectives. You will learn more about which platform best suits your trading needs, whether it is the ease of use of the interface, the range of trading instruments available or the reliability of the platforms.

Detailed comparison between Quotex and Olymp Trade:

For the comparison, see the core facts of both brokers here:

Let’s get more into details. What do both of the brokers offer their clients?

#1 Minimum deposits and withdrawals

The minimum deposit is relatively similar for both brokers. Both the minimum Quotex deposit / Quotex withdrawal and the minimum Olymp Trade deposit & Olymp Trade withdrawal are $10. Nevertheless, Quotex offers more payment methods, which is exciting for those who want to deposit with cryptocurrencies. Therefore, Quotex tops the list with a slight plus.

#2 Regulations

Quotex is only regulated by the IFMRRC, while Olymp Trade is regulated by the International Financial Commission and FinaCom. Therefore, Olymp Trade is better in terms of regulation. Nevertheless, both platforms are safe for traders.

#3 Bonus

Traders receive a variety of bonuses to choose from at Quotex. This platform offers deposit bonuses, cashback bonuses, risk-free bonuses, and many more. The Olymp Trade bonus, on the other hand, is only for deposits, which is why Quotex performs better in this comparison. Olymp Trade has a welcome bonus as well. However, those who attach great importance to bonuses may be better off with Quotex, as there is much more variety.

#4 Assets and Trading Conditions

When looking at the assets and trading conditions, their offerings differ fundamentally. Quotex only offers about 100 assets to trade with. At Olymp Trade, there are more than 200 assets. Unfortunately, Olymp Trade only offers a return on investment of 92%. Quotex performs better here, with a higher ROI of up to 95%.

#5 Margin Trading

There is no margin trading at Quotex, therefore we have to give the platform 0 points in this regard. Olymp Trade offers up to 1:500 leverage in Forex trading. Therefore, in terms of leverage, Olymp Trade is superior to Quotex.

#6 Auto Trading

Quotex does not directly offer the auto trading function integrated into the platform. It is only available through third-party providers. Some of these are dubious, and we expressly warn against them, as no one wants to fall for a scam robot. Olymp Trade is much better in this regard, as they offer the auto trading feature integrated into the platform.

#7 Trading Signals

An exciting aspect for ambitious traders is the ability to create signals. Both platforms offer special features for this, but the signals at Quotex are significantly more intuitive, and there are more customization options. Therefore, Quotex scores 10/10 points, while Olymp Trade also fares well with a solid 7/10.

#8 Copy trading

Neither Quotex nor Olymp Trade has a copy trading feature. Although it is valued and popular among many traders, it cannot be found on these platforms. Therefore, both platforms score 0 points in terms of copy trading

About Olymp Trade:

Olymp Trade is a digital trading platform that helps you to multiply your money through shares and to overcome the uncertainty of the market. Olymp Trade offers its users basic functions such as deciding when to increase their investment in a stock and when to close their trade.

Automated trading is also available in Olymp Trade, which helps the user to take advantage of every opportunity to get the right price for their investment, even when they are away or not active in trading.

There are opportunities to get high returns on a single investment through this platform. Here are some of the things Olymp Trade promotes to its users and why they should use Olymp Trade:

• This platform can work on different devices. For example, if you register on your computer, you can also register on your mobile phone through the application.
• The minimum trade on the Olymp Trade platform is $1 and the security of the site is also tight as the person logging into the platform has to go through 2-factor authentication to start trading.
• Olymp Trade fees are 0% on deposits and 0% on withdrawals.

About Quotex:

Quotex, on the other hand, is a website that supports the trading of digital assets and is one of the most trusted platforms for traders who like to place their bets online. Quotex is new in the game, so it has had some difficulty finding its place in the market, but that doesn’t mean it’s inferior to any other trading platform website.

So when it comes to choosing the right trading platform, many people spend hours searching for the right one, looking at reviews and features. But it’s not easy to get the right information until you’ve had the experience yourself.

Is Quotex regulated? Sadly, no. However, the Quotex team has 20 years of trading and development experience behind the website and application, so as a user, you can see that this platform is trustworthy. Quotex is for professionals and beginners who want to start their trading journey from a trusted website. If you are wondering Is Quotex real or fake? It is a genuine and legitimate platform.

Users will find around 400 tools in Quotex, so you don’t have to go anywhere else to start trading with ease. Different trading options are given, such as currency quotes, stocks, major, metals, oil, gas or the trending cryptocurrency.

The benefits of using Quotex

There are several benefits to using Quotex as your broker for binary options trading:

• The site offers full transparency to its members and users get only premium quality in everything related to trading.
• The users can check the Quotex indicators anytime, and it is because of the cooperation of reliable brokers. 
• The support service of the Quotex is available every day with lightning-fast replies so that any user wouldn’t miss their trade because of any confusion. 
• It is easy to understand and doesn’t contain any fancy systems that distract the client from the main purpose, which is trading.
• Quotex signals are 87% accurate, which helps you to create your effective trading strategy.
• Use the most effective trading indicators that will help you increase your account balance.
• Quotex is built using the latest technology. As a result, it runs at an incredible speed and the response time is also better than most trading platforms.

So if you are wondering – Is Quotex legitimate? The answer is yes. Quotex offers many benefits to its traders and there are many positive reviews from experienced traders who appreciate the many advantages of this trading platform.

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(Risk warning: Trading is risky)

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Trading Platforms Face-Off: Quotex vs. Olymp Trade

We’ve seen both trading platform websites, but now it’s time to make a comparison and decide which one is better for the trader. You will be familiar with these trading platforms, but read this article to the end to get the answer for those who are new to online trading.

We have gathered some information to help our readers make an easy decision and save time and effort in finding the right trading platform for daily trading.

#1 Platform supported 

Olymp Trade supports different platforms like Android, iPhones, iPad, and Saas. On the other hand, Quotex only supports the Saas platform.

However, Quotex’s official website states that they have developed a new feature that allows traders to use the Quotex trading platform as an app on their mobile phones.

#2 Audience 

Olymp Trade is a website that is suitable for all traders, whether professionals or beginners, as it helps to provide the necessary details about trading and to improve trading skills. Olymp Trade is also entitled to provide free assistance to its users, and if any broker is caught cheating, the trader will receive compensation of €20,000.

Quotex is for trading purposes only as this website is designed for online investment and trading exclusively. It is not suitable for beginners.

#3 Support

Both trading platforms offer excellent customer support with a 24-hour helpline, even on public holidays.

You will get quick answers to your problems, making your experience on these trading platforms a good one.

#4 Payment methods

Quotex gives many options for payment methods in Bitcoin, Credit Cards, MasterCard, Neteller, Perfect Money, QIWI, Skrill, Union Pay, Visa, and Webmoney.

Olymp Trade uses Doku Wallet, Skrill, and Yandex Money. 

#5 Alternatives 

Well, it’s always good to have a backup plan, isn’t it? The best alternatives for the Olymp Trade platform are Binary.com, Binomo, IQ Option, FiNMAX, and Pocket Option. The best alternatives for Quotex are Nadex, Olymp Trade, Expert Option, and IQ Option.

#6 Categories 

In Olymp Trade you will find different categories that the website and platform support, such as algorithmic trading, binary options and forex trading. Not every trading platform is set up to practice Forex trading, which gives Olymp Trade a strong point to be above in the game.

Quotex also supports the binary option, which is good for professionals as they don’t have to go through all the other functions and can concentrate on one.

From the above points you can conclude that both options are good, but it depends on your use. Olymp Trade is the best if you are a beginner and want to set up your business.

On the other hand, Quotex is all about professionalism and is good for traders who like to invest professionally. Quotex comes with limited but effective options, so if you are a professional trader looking for a seasoned platform to use, then Quotex is best for you.

People’s opinion on Olymp Trade vs Quotex

Both platforms receive positive feedback from users who are satisfied with the way they work. However, the reviews favour Quotex with 4.2 stars and Olymp Trade with 1.5 stars on trusted review sites.

Well, people can have changed opinions, and it’s all depending on the user whether he likes the trading platform for their use or not. You can check out the internet for more reviews and some YouTube videos to learn about their features and working status.

Conclusion: Quotex wins the comparison

When comparing Quotex and Olymp Trade, it is clear that both platforms have their own unique features and benefits and appeal to different types of traders. However, if a choice has to be made, Quotex seems to have a slight edge, mainly due to its higher user ratings and the plethora of tools it offers, making it the preferred choice for professional traders. It offers a more focused and effective trading experience, with around 400 tools available to users, and its platform is built with advanced technologies to ensure speed and responsiveness.

Is Quotex secure? Yes, it is! The platform is highly rated for its transparency, top quality trading aspects and lightning fast support service. However, Olymp Trade is more versatile in terms of platform support and is more beginner friendly, offering tools to improve trading skills.

Frequently Asked Questions: