Comparing Olymp Trade and Binomo: Which Platform is Right for You?

Introduction

When it comes to online trading platforms, choosing one that suits your needs can make all the difference. Olymp Trade and Binomo are two such platforms that have been making waves in the trading world in recent years. Both platforms have their own strengths and weaknesses, and as such, it can be challenging to determine which one is better suited for your needs.

In this article, we will compare the features of Olymp Trade and Binomo, shedding light on the essential details that every trader should know. Whether you are a beginner or an experienced trader, read on to find out which platform is right for you.

What is Olymp Trade?

Olymp Trade was established in 2014, and it has its headquarters in St. Vincent and the Grenadines. It is an online trading platform that specializes in forex, digital options, and cryptocurrency trading.

The platform is regulated by the International Financial Commission, which guarantees that traders’ interests are protected. Olymp Trade is available in 134 countries, and it boasts of over 20 million registered users globally.

What is Binomo?

Binomo is an award-winning online trading platform that was launched in 2014. It has its headquarters in St. Vincent and the Grenadines, just like Olymp Trade. Binomo specializes in forex, digital options, and cryptocurrency trading.

Binomo is regulated by the International Financial Commission and is available in 133 countries. The platform has won several awards, including the best binary options broker award in 2016 and the IAIR award for the best broker for beginners in 2015.

Comparing Olymp Trade and Binomo

Trading Instruments

Both Olymp Trade and Binomo offer forex, digital options, and cryptocurrency trading. However, Olymp Trade has a wider range of tradable assets than Binomo. Olymp Trade offers over 70 trading instruments, while Binomo offers around 50.

Therefore, if you are looking for a platform that offers a wider range of assets to trade, Olymp Trade could be the better option.

Trading Platforms

Both Olymp Trade and Binomo have simple and user-friendly trading platforms that are well designed for beginners. These platforms have intuitive interfaces that are easy to navigate, with well-organized menus and icons.

Olymp Trade’s platform supports desktop, web, and mobile trading, making it more versatile than Binomo, which supports only web and mobile trading. Therefore, if you prefer a platform that supports desktop trading, Olymp Trade should be your choice.

Trading Accounts

Both Olymp Trade and Binomo offer standard and VIP trading accounts. The standard account offers basic trading features that are suitable for beginners, while the VIP account offers advanced trading features that are suitable for more experienced traders.

In terms of minimum deposit requirements, Olymp Trade requires a minimum deposit of $10, while Binomo requires a minimum deposit of $5. With Olymp Trade’s higher minimum deposit requirement, you get access to more tradable assets and better trading education.

Trading Conditions

Olymp Trade has a higher payout percentage than Binomo, with Olymp Trade’s payout ranging from 82% to 92% compared to Binomo’s payout ranging from 70% to 87%. Therefore, if you are looking for a platform with higher payouts, Olymp Trade is your ideal choice.

Both platforms have a commission-free trading policy, and the minimum trade size is $1. However, Binomo has a more generous bonus system than Olymp Trade, with bonuses ranging from 10% to 80%, depending on the type of account.

Conclusion

When it comes to choosing between Olymp Trade and Binomo, both platforms have their unique features that make them ideal for different types of traders. However, if you are a beginner trader or a trader looking for a wider range of trading instruments, Olymp Trade would be your best choice.

On the other hand, if you are a more experienced trader seeking a platform with more generous bonuses, Binomo would be the better option. Ultimately, the choice between these two platforms comes down to personal preference and what features are most important to you as a trader.