As such, it gets really hard differentiating one from the other.
For this reason, I have put together this article to put to rest the question of which one between Olymp Trade and Expert Option is the best.
You see, as a trader, the trading platform you choose will either break or make you.
Through various features and tools that aid you in having a successful trading day. By that, I mean the educational resources available, technical analysis tools supported, ways of accessing the platform, customer support, and more.
In this post, I will compare the two brokers and lest you draw a logical conclusion based on everything covered in the comparison.
Let’s get started, shall we?
Market experience comes in in form of years the broker has been operational since its inception. Based on this, Expert Option leads since it was founded back in 2015 in St. Vincent and the Grenadines.
On the other hand, Olymp Trade was founded in 2014. And ever since, it has captured the minds of online traders making it rise the ranks to be the best fixed time trades, broker.
Olymp Trade has its headquarters in St. Vincent and the Grenadines.
Size of the customer base.
Olymp Trade boasts of over 23 million active traders. These contribute to the monthly transaction threshold of worth over $131 million. Conversely, Expert Option has accumulated over 11 million customers, making them busy with monthly transactions worth at least $30 million.
Olymp Trade draws most of its clients from South America, while Expert Option has a huge following in Russia. Based on these alone, you can immediately tell why the two brokers are pretty popular.
Additionally, the two serve traders from around the world.
But despite this huge number of customers, both brokers have exceptions. They do not accept traders from the United States, New Zealand, Australia, among other countries.
For this reason, before signing up with any of the brokers, make sure they are accepting your country.
Olymp Trade and Expert Option, are they regulated?
Here is the thing:
When there is no regulatory body to keep brokers in check, they may end up doing what’s contrary to traders’ expectations.
For this reason, you should only consider trading with brokers who’re fully regulated. Between Olymp Trade and Expert Option, which broker is legit?
The former is monitored and licensed by International Financial Commission. While the latter is regulated by Vanuatu Financial Services Commission.
Looking at it, you will realize that these regulatory bodies are pretty reputable financial overseers. This alone should give you the peace of mind that both brokers are not scammers.
Now that you know you can trust them with your money, the next big question is what options do you have by the broker?
Available investment options (accounts)
Starting with Olymp Trade, the broker has three types of trading accounts. The first one is the stater account type. Here, the minimum deposit is $10 and you get to invest as low as a dollar per trade up to $2000.
The second type is the Advanced trading account. To access this account type, you need a deposit of at least $500. And unlike the standard account, investment per trade here is upwards of $3K.
The third account status in OlympTrade is the Expert Account status. Commonly revered to as the VIP status.
To activate this account type you will need to deposit at least $2000 (lump sum). You can still trade with a minimum of $1 and the maximum trade amount is increased to $5000
Apart from what we have mentioned here, each account status has 10+ other benefits. Learn more about the account type you are interested in.
Lest I forget, as a VIP trader on Olymp Trade, you have access to a personal account manager, personalized training, customized webinars to guide you through trading signals and strategies.
Also, the payout is the highest. Up to 92% profit.
On the other hand, Expert Option comes with six types of trading accounts categorized according to minimum deposit requirements.
- The micro trading account comes with a minimum deposit of $10, making it most suitable for beginners.
- Basic account – comes with a minimum deposit of $50 and you can invest at least $25 per trade. That is not all. You cannot have more than 10 open trades at the same time
- Silver account – Minimum deposit shoots to $500 and at least $250 investment per trade. Also, no more than 15 trades per session. As a reliever, you have access to financial manager, daily market reports and of course financial research to aid in your trading decision making
- Gold trading account – Minimum deposit of $2500, 30 trades open at the same time, the maximum money invested per trade is $1000. You enjoy all the privileges as a silver account owner along with priority withdrawal with an extra profit of 2%
- Platinum account – this type of Expert Option trading account requires at least a $5K deposit with a minimum investment per trade standing at $2K. Unlike the previous accounts, here, there is no restriction on the number of trades open at the same time. You enjoy the add-ons of Gold account with a double extra profit of 4%
- The exclusive trading account on Expert Option – this is an invitation-only trading account. The maximum you can invest in trade is $5K and no restrictions on the number of open trades at a time. Besides receiving access to account manager, research reports and market reviews, priority withdrawal processing, trading strategies, you get extra profits of up to 6%
Despite the different types of trading accounts in both platforms, they have a free demo account loaded with $10,000 virtual funds to facilitate your practice.
And when these funds are exhausted, you can replenish them easily.
Once you get a trading account, you need to deposit some money to start trading live and to earn real money.
How is the depositing process for both Olymp Trade and Expert Option?
Although both brokers accept a huge number of deposit methods such as e-wallets, and use of bank cards, this goes to Olymp Trade.
The broker has a smooth and straightforward payment process. Additionally, they are constantly adding new payment methods, for example, MPESA.
And once you complete the funds’ transfer, typically, it takes a couple of minutes to days to reflect on your trading account. A huge factor here is the method of payment you used.
Trading instruments on Olymp Trade and Expert Option
Well, this is where you are spoiled for options.
And yes, the popularity of these brokers can be traced back to the availability of a huge variety of tradable assets.
If you have found your preferred asset to trade, how does the payout look like?
Rate of returns (profits per trades).
I must say this, both brokers give you good returns on your invested money.
On Olymp Trade, expect to earn up to 92% returns for the VIP account holders and up to 82% if you are on a standard account.
On the other hand, the Expert Option gives you upwards of 90%.
But here is the thing:
The actual profit will depend on the type of asset you pick and the time of trading.
Once you start earning a profit, you will need a seamless withdrawal process. Whose go it?
How about the withdrawal process?
This is a deal-breaker, I know.
How fast can you get your money?
Well, this can take a few hours and up to 5 business days. Also here, the huge differentiator is your type of trading account and the withdrawal method.
You see, on Expert Option, accounts like Gold, Platinum, and Exclusive enjoy priority withdrawals. Here, their requests are hurriedly processed within 24 hours. And so does VIP traders on Olymp Trade.
Note: – Withdrawals via Skrill on both platforms is instant.
Whether you have a laptop or a smartphone, you can easily access both brokers. They have both desktop and smartphone applications and not forgetting the browser applications. Also, you can access Olymp Trade via the MT4 platform.
This means that you can trade anywhere you are and on any device.
If you are going to trade on a platform, you will need assurance of getting help whenever you need it.
Customer service response.
Although you can contact both brokers through phone, email, and chat, this with no doubt goes to Olymp Trade. Their customer support responds quickly.
Trading tools and ease of use.
Both platforms have trading interfaces you will find easy to understand and navigate. But when it comes to tools such as technical indicators, you will get several of them on Olymp Trade.
Additionally, the Expert Option gives you only 60 seconds of trade time frame. And as a beginner, this can be daunting and a fast way to lose your money. On the flip side, Olymp Trade gives you flexible time frames.
In-built chat tools (social forums).
Talking of beginners, if you are one, you need help from established traders. You can learn from their mistakes and trading strategies. For this reason, you may find the Expert Option chat feature useful.
Olymp Trade hasn’t been left behind. They too have an inbuilt forum where you can interact with fellow traders.
I know I had promised to reveal the best broker between Olymp Trade and Expert Option.
And instead of deciding for you, I think it’s pretty clear. All I can say is that Olymp Trade is best for trading fixed time trades. Also, if you are starting with a small account.
But with Expert Option’s different types of accounts, you have a variety to choose from.
Or better yet, why not try both of them and decide as you go? It doesn’t hurt, right?
Bottom line is, both Olymp Trade and Expert Option are the best platforms for trading online. and it doesn’t matter if you are a beginner or a seasoned trader.