Olymp Trade is a Forex Binary Broker offering Forex Trading services via Mobile and Web trading platforms. Regarding orders execution model, Olymp Trade is a b-book broker (market maker). Olymp Trade offers trading of currencies, indices, shares and commodities - binary options only. Olymp Trade is regulated by the FinaCom (Hong Kong).
|#||Broker's Features||OLYMP TRADE Availability||PLUS500 Availability|
|#||Accepts US traders||❌||❌|
|#||24 hour trading||✔||❌|
|#||Trading by phone||❌||❌|
|#||1st deposit bonus||❌||❌|
|#||Forex contests competitions||❌||✔|
|#||Interest charges on the balance||❌||❌|
|#||24 hour support||✔||✔|
The variety of online brokers on the internet is very huge, so it is necessary to do a transparent review and comparison of the companies. After spending several days researching different forex brokers for trading FX, our team at onlineforextrading.net team collected over 50 data points. For this review, we will compare Olymp Trade vs Plus500.
Financial Trading and Investment Services: First of all, you should know which financial instrument you want to trade and then searching for the right broker. This can be stocks, forex, CFDs, cryptocurrencies or options. Olymp Trade offers Online Financial Trading and Investment Services Such as Crypto-currencies, Currencies, Commodities, Indice, while Plus500 offers Trade over 2000 CFDs instruments on Shares, Indices, Forex, Cryptos and Commodities.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. Olymp Trade is Broker, while Plus500 is No dealing desk.
Minimum Deposit Requirement: To compare these two FX brokers, we will then take a look at how much is required as a basic minimum to open an account. You need to consider how much money you can spare to start off a Forex brokerage. Olymp Trade recommended minimum capital is 10, while Plus500 has a Minimum Deposit Requirement of .
Is the Forex broker regulated? Commissions and fees aside, let's take a look at regulation. Trust is critical, and you should highly consider choosing a broker that regulated in a major hub. Olymp Trade is regulated by IFC, while Plus500 regulated by FCA, CySEC, MAS, IE, ASIC, AFSL, FMA, FSP. For our reviews, official regulation of an official financial authoritarian is required. Brokers have to fulfill certain conditions to get these licenses. In order to violate the rules, they would lose their license and a lot of money.
Account currencies: Next lets consider the Account currencies each broker offers. Olymp Trade offers dollar, euro, ruble, Brazilian real, Thai baht, Ch different account currencies for each account types, while Plus500 offers Most of the currencies are being supported account currencies.
Languages Available: Next lets have a look at each broker's different Language options. Olymp Trade offers English, Thai, Indonesian, Portuguese, Spanish, Tu, while Plus500 offers platform is offered in 32 languages. Support is of Customer Support Languages.
Payment methods: Next lets have a look at each broker's payment options. Olymp Trade offers Credit Card, QIWI, Skrill, Webmoney, Bitcoin, Yand different payment methods for each account types, while Plus500 offers Credit Card, Skrill, PayPal, Wire Transfer payment methods.
Trading platforms: Next, let's look at the tools and features fx traders desire. With trading platforms, Olymp Trade makes Olymp Trade platform available to clients, while Plus500 offers Plus500 in-house platform.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Olymp Trade is more reliable based on our criteria above. Olymp Trade offers a wider range of Account currencies. Why does base currencies matter? Because if you fund your account in the same currency as your bank account, currency conversion fees won't be charged. Customer service in your national language might not be a major concern for traders based in English-speaking countries, but it is a defining requirement for traders from other regions such as Asia and South America. Olymp Trade has a wider range of languages in which customer service is offered making the broker more accessible. One of the criteria we looked at before opening an account on a forex broker is the minimum deposit amount. Olymp Trade broker offers lower minimum deposit requirement.
Plus500 has limited product portfolio, provides only CFDs. It has high financing rates. Some standard research tools, like recommendations, fundamental data, or news feeds are missing from the Plus 500 platform.
Finally, if you're really not sure you can always use our free tool (takes 15 seconds) that will help you find a suitable Personalised Broker based on your precise requirements here.