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Olymp Trade and Expert Option comparison
There are two extremely popular platforms in the trading business. Olymp Trade is one of them. The other one is the Expert Option. From the time they were launched they gathered millions of customers all over the world. When you are a beginning trader you need to answer the question of which one is the best for you.
And this is why I prepared this article where I compare many different features between both platforms. Here you will find:
- When Olymp Trade and Expert Option were created
- Regulations
- Active traders
- The types of accounts
- Assets’ types
- Trades profits
- Acceptable payment methods
- Deposits and withdrawals
- Availability
- Customer support
- Other features
Key Takeaways🔑
| →Olymp Trade and Expert Option both offer a wide range of features for traders. |
| →They have different regulatory bodies and offer various account types. |
| →While they have some common features, each platform has its unique strengths. Research and compare before choosing. |
When Olymp Trade and Expert Option were created
Expert Option was first activated in 2014. Its offices are in Saint Vincent and Grenadines.
Olymp Trade was started in 2014 as well, with offices in Saint Vincent and Grenadines.
Regulations
Expert Option is regulated by the Vanuatu Financial Services Commission.
Olymp Trade is regularly checked and regulated by International Financial Commission.
Active traders
From the time the platforms were launched, Expert Option has engaged more than 11 million traders. Moreover, each month it carries transactions worth more than $30 million.
On the other hand, Olymp Trade has attracted more than 23 million users and conducts transactions worth more than $171 million per month.
These two platforms are well known around the world. There are some differences in regions where both are popular, but mostly the clients come from Latin America, Asia, Eastern Europe, and the Middle East. Neither Expert Option, nor Olymp Trade operates in Australia, New Zealand, the United States of America, and some others. Olymp Trade has most of its clients from South America and most Expert Option traders are from Russia.
The types of accounts
There are 6 types of the account at Expert Option.
Micro account for beginners. The minimum deposit is $10.
Basic account. The minimum deposit is $50. The maximum amount per trade is $25. The maximum number of open transactions at the same time is 10.
Silver account. Here your minimum deposit rises to $500. You may trade for a maximum of $250 and have 15 trades at the same time. Additionally, you receive a personal manager, daily market reviews, and financial research.
Gold account. The minimum deposit is $2500, the maximum amount per trade is $1000 and you are allowed to open 30 trades simultaneously. Apart from a personal manager, daily market reviews, and financial research, you receive priority withdrawal as well as up to 2% of profitable transactions.
Platinum account. The required deposit is $5000. The maximum investment per trade is $2000. The number of open transactions at the same time is unlimited. Of course, you get what was offered in the Gold account, but extra profit rises to 4%.
Exclusive account. You need to obtain an invitation to get access to this account. The maximum amount you can put in a single trade is $5000 and the number of open transactions at a time is unlimited. You receive an account manager, daily market news, a priority of withdrawal, access to trading strategies, and extra gains from profitable operations up to 6%.
On the Olymp Trade platform, there are two types of accounts.
Standard account. The required deposit is a minimum of $10. The minimum investment in trade is $1 and the maximum is $2000. All the financial instruments are available for you.
VIP account. The minimum deposit is $2000. The amount of investment per trade is $5000. You get the personal consultant, risk-free trades, individual training, webinars, strategies, and trading signals. You can also benefit from higher rates of return (up to 92%).
Also, both platforms have demo accounts in their offer. You receive $10000 virtual money and you can recharge the account before the balance is exhausted.
Assets’ types
Each of the two described platforms provides a wide range of assets. You will find among other currencies, financial derivatives, commodities, or cryptocurrencies. This broad product variety is probably the main factor in the growing popularity of both platforms.
Trades profits
The returns are good on both platforms. You can expect a profit from up to 90 percent for Expert Option and up to 92% for Olymp Trade (82% for a standard account). Bear in mind that the profits you can make are different for different assets and also depend on the time.
Acceptable payment methods
There are plenty of payment methods acceptable on both platforms. Credit and debit cards, e-wallets (like Skrill or Neteller), and more. But Olymp Trade has this advantage, that they constantly adding new ways of payment.
Withdrawals and deposits
The time after which your deposit will appear on the account depends on the payment method you are using. But normally you can expect it will be placed from a couple of minutes to a few days. As for withdrawals, they are typically completed within a few hours or up to 5 days. The time will be different for different types of accounts.
Priority withdrawals, which means they are processed within 24 hours, are available for Gold, Platinum, and Exclusive account at Expert Options and VIP account at Olymp Trade.
Availability
Both platforms are available through a web browser, computer applications (macOS and Windows), and mobile apps (iOS and Android.)
Customer support
Customer support works perfectly on both platforms. You can contact the support team by phone, email, or chat. From our experience, we can say that Olymp Trade support is extremely fast. They respond in a matter of seconds if you are using their chat.
Other features
Trading interfaces are intuitive on both platforms. Nonetheless, you have at your disposal more technical indicators and drawing tools at Olymp Trade. Also, candle timeframes are higher here. At Expert Option, they are limited to 60 seconds. Trading on small timeframes is not recommended for novice traders.
There is a social network feature available at Expert Option. You can communicate with other traders there. You can also see their real-time trading. Expert Option social network teams are especially useful for beginners.
You have the possibility to interact with others also at Olymp Trade. Their support and chat work perfectly and you can communicate without the need of leaving the platform.
Pros and Cons👍👎
Olymp Trade
👍 Pros:
- Wide variety of assets available for trading.
- Regulated by International Financial Commission.
- Demo account availability for practice.
👎 Cons:
- Does not operate in some countries like the USA, Australia, and New Zealand.
- Only two types of accounts available.
Expert Option
👍 Pros:
- Six types of accounts catering to different trading requirements.
- Regulated by Vanuatu Financial Services Commission.
- Micro account suitable for beginners with minimum deposit requirement.
👎 Cons:
- Also has restrictions in certain countries.
- Lower maximum amount per trade compared to Olymp Trade.
| Olymp Trade Features | Expert Option Features |
|---|---|
| Regulated by International Financial Commission | Regulated by Vanuatu Financial Services Commission |
| Two types of accounts: Standard and VIP | Six types of accounts: Micro, Basic, Silver, Gold, Platinum, and Exclusive |
| Up to 92% returns for VIP accounts | Up to 90% returns |
Summary
Both brokers are pretty good for those who are at the beginning of the trading journey and those more experienced as well. Expert Option has a wide spectrum of trading accounts. Thus, Olymp Trade is better if you want to start with small amounts. It is also a very good choice for those wanting to trade financial derivatives.
Tell us if you have experience on any of the above platforms. What is good, what is not? Write your observations in the comment section.
We wish you good choices!
Q&A:
- Q: What type of assets can I trade on these platforms?
- A: Both platforms provide a variety of assets, including currencies, financial derivatives, commodities, and cryptocurrencies.
- Q: Can I practice trading on these platforms before I start?
- A: Yes, both Olymp Trade and Expert Option offer demo accounts where you can practice trading with virtual money.
- Q: Are these platforms regulated?
- A: Yes, Olymp Trade is regulated by the International Financial Commission and Expert Option is regulated by the Vanuatu Financial Services Commission.
- Q: What is the minimum deposit requirement for these platforms?
- A: Olymp Trade requires a minimum deposit of $10 for a Standard account, while Expert Option’s minimum deposit starts from $10 for a Micro account.
- Q: Can I withdraw my money easily from these platforms?
- A: Yes, both platforms provide several withdrawal methods, including credit cards, debit cards, and e-wallets. Withdrawal times may vary depending on the type of account.