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||XTB 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 Xtb.
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 Xtb offers Currencies, Commodities, Indices, Stocks, Bonds, Crypto, Futures.
Broker Type: Many types of brokers can be found in the most dynamic market in the world. Olymp Trade is Broker, while Xtb is STP.
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 Xtb has a Minimum Deposit Requirement of 0.
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 Xtb regulated by BaFin, CNMV, CySEC, FCA, IFSC. 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 Xtb offers EUR, USD, GBP, HUF 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 Xtb offers English, Spanish, Arabic, French, Italian, Portugu 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 Xtb offers Credit Card, Neteller, PayPal, Skrill, 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 Xtb offers MetaTrader 4, xStation 5.
There’s no such thing as a perfect broker, but some are going to be a better fit for you than others.
Objectively, Xtb is more reliable based on our criteria above. Regulations play a huge role in protecting the traders/investors interest as they compel the financial service providers such as forex brokers to act in a fair and ethical manner. Xtb broker is regulated in more major hubs. Only Xtb Offers the MetaTrader Platform. MetaTrader platform is a comprehensive trading platform that is often touted as being the best for forex trading. A popular, versatile and unique tool. Xtb offers a wider range of platforms making it easier for the traders to choose one that matches their needs most. Only Xtb provides training and education resources which is extremely critical to beginner traders who may not be familiar with most of what goes on in the Forex markets.
XTB offers a fast deposit and withdrawal, and multiple options to deposit, including credit/debit cards. The account opening is also fast and user-friendly, will be ready within a day. XTB has good research tools, including news flow, market sentiment, and an economic calendar.
XTB has limited product portfolio, provides mostly CFD and FX, and some stocks and ETFs. Account opening is is quick, but the sales team can be very pushy. 24/7 customer support is also missing.
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.