Quotex vs Olymp Trade. Which Broker to Sign up With?

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Quotex vs Olymp Trade which broker should you sign up with?

This is a common question that we get all the time, especially from newbie traders who want to sign up to start trading but don’t want to make the mistake of choosing the wrong broker.

In today’s post, we put Quotex head to head with Olymp Trade we will look at: –

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  1. Quotex vs Olymp Trade history.
  2. Quotex vs Olymp Trade regulation.
  3. Olymp Trade vs Quotex account types.
  4. Olymp Trade vs Quotex pros and cons.
  5. Quotex vs Olymp Trade account opening process.
  6. Quotex vs Olymp Trade deposit and withdrawal process.
  7. Olymp Trade vs Quotex trading strategies.
  8. Olymp Trade vs Quotex tips for winning and more.

Before we proceed though, a quick reminder; we have a new signals service that works with both Quotex and Olymp Trade. You can join us here if you are interested.

Understanding Fixed Time Trading.

Olymp Trade vs Quotex, which product do they offer?

A quick glance at the two platforms shows that they both offer the same product. And while it may have one name in Olymp Trade (Fixed time trading); and another in Quotex, it’s just the same thing. Binary options trading.

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Rajesh P. from India became Trader of the week on Quotex platform, he earned $18,663! Congratulations to Rajesh P. on excellent results and we wish everyone successful trading!

But what is Fixed time trading? And how does it work in Quotex or Olymp Trade?

Fixed-time trading refers to trades that are opened for a fixed duration. For example, 1 minute.

In order to profit from Fixed Time Trading, you will need to choose an asset to trade.

Most FTT brokers offer major currency pairs, some exotic pairs, and maybe, 1 or two minor pairs. For example, EUR/USD in Olymp Trade and  CAD/CHF on Quotex…

Depending on which broker you choose and the asset you choose to trade, you can get a rate of return of up to 92%.

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All you have to do is predict the direction of the pair you are trading. For example, if you are trading on EUR/USD, you can predict that the price in the chart will increase by clicking the UP button.

More on how to trade on Quotex and how to trade on Olymp Trade later.

Quotex vs Olymp Trade: History

How old is Olymp Trade? And how old is Quotex?

In the periods that they have been operational, how much have they achieved?

Are they regulated?

Who owns Quotex? And who owns Olymp Trade?

In this section, we disclose everything that you didn’t know about both Olymp Trade and Quotex and more.

1). Olymp Trade History.

Olymp Trade is a Fixed Time Trading platform that was launched in 2014 to help fill the gap in alternative trading methods.

Though it is widely known for Fixed Time Trading, Olymp Trade also offers Forex and stock point trading on the platform.

All three platforms can be accessed with the same account. However, they all have different interfaces.

a). Olymp Trade by numbers.

Over the 8 years that it has been operational, over 60 million people have created user accounts on the platform.

Every month Olymp Trade pays out over $16 million to users.

30 million-plus transactions are done on the platform monthly and the turnover generated from all the trade-in Olymp Trade every month amounts to more than $210 dollars.

b). Does Olymp Trade Work Globally?

Yes, Olymp Trade is global. It works in over 190 countries with an exception of only a few that do not allow Fixed Time Trading in their jurisdictions.

To help serve all the 190 plus countries better, Olymp Trade has localized the platform to at least 14 languages. And the process to translate the website to more languages is still underway.

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Some of the languages that you can use to trade on Olymp Trade at the moment include: –

English, Bahasa Indonesia, Hindi, Tiếng Việt, Русский, ไทย, Português, Bahasaa Melayu, Türkçe, العربية, Español, Français and 한국어.

Did you miss your language on the list, don’t worry, use the English version as you wait for the website to be translated into your language.

c). Olymp Trade Regulation.

Is it safe to trade with Olymp Trade? Is Olymp Trade legal? Where is Olymp Trade regulated?

The answer to these questions lies in this simple answer.

Yes, Olymp Trade is regulated by Finacom where it is a category A member.

At Finacom, one of the basic guarantees that a broker must adhere to is the insurance of all deposits made by clients. This is a good thing because there is a guarantee that you will get your money back in the event that a broker ceases operations.

Finacom also guarantees compensation of €20,000 if you report an issue and they are able to pin the wrongdoing on the side of the broker. Read more about Finacom.

d). Olymp Trade Achievements.

Olymp Trade has repeatedly received international professional trading community awards.

Some of those awards include: –

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1). Best Customer Support Broker, Forex Broker’s Awards 2020.

2). Best Financial Broker, CPA life awards 2017

3). Best Customer Service Broker, Global Brands Award 2019

4). Bes Trading Platform (Forex) in Asia.

The list is endless. You can learn more about Olymp Trade achievements on the official Olymp Trade Website. About Us Page.

e). Social Media Community.

If there is a broker that’s so consistent with delivery and keeping up to date on its social media platforms then it’s Olymp Trade.

Not a day passes without the crew posting on Facebook, YouTube, and Instagram.

You can follow them on these channels to learn more about the product, interact with other traders, participate in competitions, and/or ask questions.

Olymp Trade social media

2). Olymp Trade Account Types.

Ideally, there are only two account types in Olymp Trade.

a). The demo account.

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b). The live account

a). Olymp Trade Demo Account.

A demo account is a type of trading account offered by brokers, often loaded with virtual cash to help traders test a trading platform before going live.

At Olymp Trade, the demo account comes with $10,000 virtual cash which you can use to learn how to trade, find your way around Oltmp Trade, and come up with trading strategies.

One major benefit of trading with the demo account at Olymp Trade is, at allows you to access the real market and trade on it without risking your money.

Plus, if you lose money on the demo account, you can just refresh the account balance and it will be replenished back to $10,000.

The only disadvantage of trading with a demo account is, that no matter the number of profits you end up making, you can not withdraw. It’s virtual cash remember!

b). Olymp Trade Live Account.

The Olymp Trade live account is the real account that you activate by making real deposits.

The minimum deposit in Olymp Trade is only $10 and there is no limit on withdrawal.

It is on the Olymp Trade live account that you find different account levels depending on how much you deposit and/or, your trading volume.

Starter AccountAdvanced AccountExpert Account
✅ Minimum Deposit $10✅ Minimum Deposit $500✅ Minimum Deposit $2,000
✅ Rate of return 82%✅ Rate of return 85%✅ Rate of return 82%
✅ Maximum Trade up to $2,000✅ Maximum Trade up to $3,000✅ Maximum Trade up to $5,000
✅ Maximum of 10 open positions✅ Trading Stop Loss✅ Access to Basic & Private Education
✅ Standard funds withdrawal (takes up to 5 business days).✅ Withdrawals process within 1 business day✅ Priority Withdrawals
Click here to registerClick here to registerClick here to register

3). Olymp Trade Pros And Cons.

What are the advantages of trading with Olymp Trade?

1). High and consistent rate of return – The rate of return for most pairs on Olymp Trade is always consistent at over 80%.

2). Instant deposits and withdrawals – You will receive your money either on your account or on your wallet if you deposit and withdraw via Mpesa, Skrill, Perfect Money, Advash, or Neteller.

3). Free trading education – Olymp Trade has more than enough education resources to help new traders get started. You can read trading blogs, watch youtube videos or talk to other traders on Olymp Trad forums for help.

4). Easy to use – The Olymp Trade platform is straightforward on all devices and it’s so simple and user-friendly that even someone who has never traded before can open the app and start trading.

5). Personal finance analysts for clients – you will also get a personal finance analyst to help you depending on the status of your account.

6). No fees on deposits and withdrawals.

7). You can trade on Olymp Trade 24/7  – Olymp Trade also offers OTC trading on currencies and indices which you can trade alongside crypto on weekends.

What are the disadvantages of trading with Olymp Trade?

1). MT4 or MT5 platforms – It’s not available on MT4 or MT5 platforms and this can be a serious drawdown to anyone seriously interested in Forex trading.

2). Not available in some countries – Olymp Trade is not available to US/EU citizens.

3). Trading limits – Olymp trade algorithm can easily limit your daily trading to a smaller amount depending on your trading style and other unknown parameters.

4). How to Open a new account in Olymp Trade.

The signup process in Olymp Trade is FREE and simple. You only need to be 18 years of age and above and have a valid email address to get started.

Are you 18 years of age and do you have some interest in trading? Here’s how to create a new account in Olymp Trade.

a). Visit the official Olymp Trade website and enter your email, and password, confirm that you are above 18, and register.

Olymp Trade registration

Once you click on the registration button you’re done.

You can now log in to your Olymp Trade account to verify and start trading.

a). How to Deposit Money to Olymp Trade.

Olymp Trade has multiple deposit methods tailored for different countries.

For example, the methods that are active in Asia may not be active in Africa and vice versa.

If you are in Africa, Kenya to be specific, you can fund your account via Skrill, Mpesa, Neteller, Advcash, Webmoney, Perfect Money, bank cards, and crypto.

In case you missed it, here is, here’s how to fund Olymp Trade via all the 11 methods.

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b). How to Withdraw money from Olymp Trade.

Apart from crypto, all the deposit methods in Olymp Trade are instant.

Just login to your Olymp Trade account and tap/click on the withdrawal button then follow prompts to receive your payments.

5). How to Trade on Olymp Trade.

Trading on Olymp Trade is also very easy.

There are two types of Fixed Time trades that you can open on the platform.

1). An UP trade – Open if you are forecasting that the price of the asset you want to trade will increase in price until the expiry of the trade.

2). Down trade – Open if you are predicting that the price of the asset you are trading will fall at expiry.

When trading, ensure you also use strategies.

Olymp Trade has tens of ready-made strategies that you can use for free or buy. You can also develop your own strategy on the demo account.

2). Quotex History

Quotex is a fairly new trading platform that only launched in 2019 so there isn’t so much information about it except that it offers trading instruments similar to Olymp Trade.

The website is owned by Maxbit LLC and its address is in St. Vincent and Grenadines.

a). Quotex Numbers

There is no information about how many accounts have been registered on Quotex so far.

Neither is there information about the payouts it makes often and/or it’s turnover.

One thing that’s clear though, Quotex has gone far and beyond because how else would I know about it here in Kenya if it’s not popular.

And how else is one of the traders in my signals VIP group using the platform from Turkey if it’s not popular there?

b). Does Quotex Work Globally?

The simple answer is YES. Quotex is global. Apart from countries where digital options is prohibited, Quotex works everywhere.

d). Quotex Regulation

Quotex is licensed by the International Financial Market Relations Regulation Centre (IFMRRC).

Regulation by IFMRRC also includes membership to a compensation fund, which reimburses customers if the brokerage infringes on the license or cannot make payments.

In other words, it is safe to trade with Quotex if the regulation covers your jurisdiction.

Quotex Account Types

Quotex offers two account types. The demo account and the live account.

It’s in the live account where further you find three account types in Quotex. Standard, Pro and VIP.

How do these three live account types differ from the other?

What sets these three account types from one another is the minimum amount required to get elevated to the next level.

While the minimum deposit in Quotex is $10, if you deposit $1,000 or more, you automatically qualify for a pro account with extra benefits from what’s offered in the standard account.

You can also opt for the VIP by making a deposit of $5,000 or more.

Quotex Pros And Cons.

What sets Quotex apart from the rest of the brokers? Quotex advantages.

1). High rate of return – Quotex is the only broker that offers up to 98% rate on return on assets.

2). Instant deposits and withdrawals – You will receive your money either on your account or on your wallet if you deposit and withdraw via Mpesa, Skrill, Perfect Money, Advash, or Neteller.

3). Free trading education – There are lots of traders who are currently using the platform and sharing their experiences. You can learn from those resources.

4). Easy to use – The Quotex platform is straightforward on all devices and it’s so simple and user-friendly.

5). No fees on deposits and withdrawals.

7). You can trade on Olymp Trade 24/7  – Quotex also allows 24 hours trading 7 days a week.

What are the disadvantages of trading with Olymp Trade?

1). MT4 or MT5 platforms – It’s not available on MT4 or MT5 platforms and this can be a serious drawdown to anyone seriously interested in Forex trading.

How to Open an Account on Quotes, Deposit, Trade, and Withdraw.

The Verdict.

Between Olymp Trade and Quotex, which broker should you signup with?

Well, that’s a tough one. Quotex is fast making a name for themselves and who knows what tomorrow holds for them?

Olymp Trade on the other hand is an established broker, easy to use, and with numbers to show for their success.

Which broker should you sign up with?

Compare them below and decide for yourself.

If you insist that I choose though, I’ll choose both. Plus there is no limitations on how many brokers you can create accounts with.

So, how about you create a Quotex account if you already have an account in Olymp Trade? And an Olymp Trade account if you already have an account on Quotex and try them both.

Quotex Vs Olymp Trade Comparison.

Broker FeaturesOlymp TradeQuotex
1). Fixed Time Trades✅ Available✅ Available
2). Trading Signals✅ Available✅ Available
3). Account Type✅ DEMO & LIVE✅ DEMO & LIVE
4). Trading Bonus✅ Use JOON30. 30% Bonus.✅ Use JOON50. 50% Bonus.
5). Deposit Methods✅ Crypto, E-wallets & Bank Cards Available✅ Crypto, E-wallets & Bank Cards Available
6). Withdrawal✅ Crypto, E-wallets & Bank Cards Available✅ Crypto, E-wallets & Bank Cards Available
7). Registration✅ FREE✅ FREE
8). DEMO Account✅ $10,000✅ $10,000
9). Rate of ReturnUp to 92%Up to 98%
10). Weekend Trading✅ Available✅ Available
11). MT4 Trading❌ Not Available❌ Not Available
12). Technical Analysis Tools✅ Available✅ Available
13). FREE Education✅ Available❌ Not Sufficient
14). Customer Support✅ Live chat, Email & Calls.✅ Calls, Zoom, & Email
15). Mobile App Trading✅ Available✅ Available
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