Quotex Broker Regulation Vs Olymp Trade Regulation

Quotex Broker is a binary options broker that offers access to its trading platform globally to traders who’d like to make money trading in shorter time frames. Just like Quotex, Olymp Trade is a Fixed time trading platform known the world over for short trades of between 5 seconds and 23 hours.

As it is the law for brokers to get regulated in most countries, both Quotex and Olymp Trade have taken drastic steps to ensure that they are regulated. In this article, we will compare and contrast the two broker regulations in order to help you make an informed decision about which of the two is best to start trading with.

What do Broker Regulators Do?

Broker regulatory bodies are watchdogs or supervisors of the financial markets and of brokers offering different financial products to traders worldwide.

When a broker is regulated, it gives traders the confidence to trade on the offered platforms knowing that their money is safe and the brokers they are dealing with are trustworthy.

Some of the most popular regulatory bodies that you should look for when creating a trading account with any broker include: –

Malta Financial Services Authority (MFSA) in Malta.
Finanstilsynet (FSA) in Denmark,
Comissão do Mercado de Valores Mobiliários (CMVM) in Portugal.
Autorité des Marchés Financiers (AMF) in France.
Comisión Nacional de Mercado de Valores (CNMV) in Spain.
Financial Market Authority (FMA) in Austria.
Bundesanstalt fürFinanzdienstleistungsaufsicht (BaFin) in Germany.
Swiss Financial Market Supervisory Authority (FINMA) in Switzerland.
Financial Conduct Authority (FCA). UK.
National Futures Association (NFA) USA.
Commodity Futures Trading Commission (CFTC) USA.
Australian Securities & Investments Commission (ASIC) Australia.
Financial Sector Conduct Authority (FSCA) South Africa.
Capital Markets Authority (CMA) Kenya.

I guess what I’m trying t say is, that every country has its own regulatory body but some are more strict and superior to others.

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If your country has a regulatory body for Forex and other financial products then you should look for brokers that it has allowed to operate in the country before you create a trading account.

For example,

In Kenya, we have the Capital Markets Authority (CMA) and some of the most popular brokers in Kenya regulated by CM are: – Papperstone, Hot Forex, and FX Pesa among others.

That said if I wanted to trade Forex and security was one of the features that I was interested in, I’d choose either of these brokers.

But, what if I wanted to trade Binary Options? Are there any broker watchdogs regulating binary options brokers locally? The simple answer is no.

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To trade binary options you’d have to trust international regulators like: –

The International Financial Commission (IFC)
The Financial Market Relations Regulation Center (IFMRRC)
Cyprus Securities and Exchange Commission (CySEC)
Abu Dhabi Global Markets (ADGM)
Financial Regulatory Services Authority (FRSA

Among other regulators known to watch over binary options trading platforms.

Is Olymp Trade Regulated?

Yes, Olymp Trade is Regulated by the International Financial Commission (IFC). I checked on the Olymp Trade license prior to posting this article on 30th August 2022 and it was still active.

Some of the benefits you get from trading with a broker regulated by IFC include: –

The right to file a complaint – Should you have any issue with Olymp Trade of unfair dealing then you can visit the IFC website and file your complaint against the broker.
Compensation fund – In the event that you have an issue about your trades in Olymp Trade, file a complaint and win, you will earn up to €20.000 per complaint brought to IFC against the broker.
Trade verification – IFC also does frequent trade verification where they audit a sample of 5,000 orders executed to gauge how fast and efficient broker platforms execute trades. This is an advantage to you as a trader because through these reports, you can tell if your broker is cheating you or not.

Is Quotex Broker Regulated?

Yes, Quotex Broker is Regulated by IFMRRC (International Financial Market Relations Regulation Center). A financial watchdog that’s also very popular among new brokers.

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Some of the advantages that you get from trading with brokers regulated by IFMRRC include: –

Trader protection rights – Other than regulation, IFMRRC also doubles up as a dispute resolution agent between brokers and traders. Should you have a problem with any broker regulated by IFMRRC, you can file your complaint on the IFMRRC website.
IFMRRC just like all the other binary options brokers has a compensation fund for reimbursing clients’ damages inflicted by the companies it has certified.
Brokers regulated by IFMRRC guarantee payout of funds to traders and investors deposited into accounts (proof required) if the broker goes bankrupt.

Between Quotex and Olymp Trade Regulators, Which is Best?

To answer this question without bias, we must look at all the offers claimed by each of the regulators for both Olymp Trade and Quotex.

Here’s a neck-to-neck comparison of the Olymp Trade regulator (IFC) and Quotex regulator (IFMRRC).

Benefits of (IFC): Olymp Trade Regulator	Benefits of (IFMRRC): Quotex Broker Regulator
✅ The right to file a complaint - Should you have any issue with Olymp Trade of unfair dealing then you can visit the IFC website and file your complaint against the broker.	✅ Trader protection rights - Other than regulation, IFMRRC also doubles up as a dispute resolution agent between brokers and traders. Should you have a problem with any broker regulated by IFMRRC, you can file your complaint on the IFMRRC website.
✅ Compensation fund - In the event that you have an issue about your trades in Olymp Trade, file a complaint and win, you will earn up to €20.000 per complaint brought to IFC against the broker.	✅ IFMRRC just like all the other binary options brokers has a compensation fund for reimbursing clients’ damages inflicted by the companies it has certified.
✅ Trade verification - IFC also does frequent trade verification where they audit a sample of 5,000 orders executed to gauge how fast and efficient broker platforms execute trades. This is an advantage to you as a trader because through these reports, you can tell if your broker is cheating you or not.	✅ Brokers regulated by IFMRRC guarantee payout of funds to traders and investors deposited into accounts (proof required) if the broker goes bankrupt.
Create a DEMO Account Here!Start trading with 1 click ➵	Create a DEMO Account Here!Start trading with 1 click ➵

How to Create a Trading Account in Quotex Via Email

If you’re looking to get started in the world of binary Options trading, you’ll want to make sure you have an account with a regulated broker. That means finding a broker that is registered either by your local Government or by the trusted international regulators mentioned in this post.

If you choose the create an account with Quotex, then here’s how to go about it via Email.

I have also previously done an article about how to create an account in Quotex via FaceBook, Apple, VK and Gmail. You can read it here.

Step #1

Visit the official Quotex Broker website at Quotex.io, Qxbroker.com or Quotex.com and click on either Sign up, register, or open a demo account as shown in the image below.

Step #2

Enter your Email address and password, and choose the currency you want your account balance to be shown in.

Done that? Confirm that you have read the service agreement and accept that you are at least 18 years of age. Next, click the SIGN-UP button to register your new account.

How to Create a Trading Account in Olymp Trade

If you want to trade on the Olymp Trade platform, you first need to create an account.

To do this, go to the official Olymp Trade website and click on the “Register” tab in the main navigation bar and enter your email address and password.

Next, confirm that you are at least 18 years old by clicking the checkbox on the registration form and clicking on the register button as shown in the image below to create your account.

It’s that simple.

Conclusion.

Between IFC (regulating Olymp Trade) and IFMRRC (regulating Quotex Broker), which regulator is best?

If you have read this post to this point then you should have a personal answer to this Question. Regardless, I still think that both brokers are good for trading beginners and you should try them both before you decide.

Of course, they both have demo accounts with $10,000 for training, take advantage of this to test both platforms risk-free.

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Quotex Broker Regulation Vs Olymp Trade Regulation

What do Broker Regulators Do?

For example,

Is Olymp Trade Regulated?

Is Quotex Broker Regulated?

Between Quotex and Olymp Trade Regulators, Which is Best?

How to Create a Trading Account in Quotex Via Email

Step #1

Step #2

How to Create a Trading Account in Olymp Trade

Conclusion.

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