Olymp Trade vs OctaFX: Which Offers Better Trading Tools for Beginners?
The digital world is treasured with numerous trading platforms that provide their users with excellent trading features. Olymp Trade and OctaFX are two such platforms that attract a vast community of traders worldwide. Both platforms offer trading solutions that cater to the needs of beginners.
While choosing a trading platform, beginners look for an intuitive interface, easy navigation, and a range of trading instruments to explore. In this article, we will compare Olymp Trade and OctaFX on various parameters to understand which platform offers better trading tools for beginners.
Interface and Navigation
The interface and navigation of the trading platform play an essential role in attracting and retaining new traders. An easy-to-use and intuitive interface makes the journey of a beginner trader comfortable and smooth. Both Olymp Trade and OctaFX have user-friendly interfaces that allow traders to perform trades seamlessly.
OctaFX has a more classic design with easy-to-understand navigation options. The platform offers a range of tutorials and guides to help beginners understand how the platform works. The overall layout of OctaFX is aesthetic and provides excellent visibility of the trading charts, indicators, and tools.
On the other hand, Olymp Trade has a more modern and trendy interface, making trading a fun activity for beginners. The platform provides an extensive range of educational resources like webinars, courses, and eBooks, making it easier for beginners to learn and execute trades.
Both Olymp Trade and OctaFX offer a range of trading instruments like Forex, commodities, stocks, cryptocurrencies, and more. However, when it comes to the number of trading instruments, OctaFX provides a more extensive range than Olymp Trade.
OctaFX offers around 28 currency pairs, 4 metals, 2 trading energies, 4 indices, and 3 cryptocurrencies for trading. On the other hand, Olymp Trade provides around 28 currency pairs, 6 commodities, 12 indices, and 28 stocks for trading.
While OctaFX offers more trading instruments, Olymp Trade provides a broader range across different asset classes, making it easier for beginners to diversify their portfolio.
Trading Platform Features
Trading platform features like indicators, charts, and analysis tools are crucial for traders to make informed decisions. Both Olymp Trade and OctaFX offer a range of advanced trading tools that help beginners make well-informed trades.
Olymp Trade provides a built-in economic calendar that displays upcoming financial events and allows traders to adjust their trading strategies accordingly. The platform also offers a range of tools like trend indicators, moving averages, and Bollinger Bands to help beginners analyze market trends and make profitable trades.
OctaFX offers traders access to professional-level charting packages that help them visually analyze market fluctuations. The trading platform comes with a range of indicators like moving averages, Bollinger Bands, and RSI. The platform also provides traders with access to trading signals that give them real-time market insights.
Customer support is an essential aspect to consider while choosing a trading platform. Both Olymp Trade and OctaFX offer round-the-clock customer support to their clients.
Olymp Trade provides several options to contact their customer support, like phone, email, and live chat. The platform has a dedicated support team that is proficient in resolving any queries of the traders.
OctaFX also offers 24/7 customer support through various channels like email, phone, and live chat. The platform provides multilingual support to their traders, making it easier for traders to communicate their concerns.
Security is a vital parameter to consider while choosing a trading platform. Olymp Trade and OctaFX both provide a high level of security to their traders.
Olymp Trade is regulated by the International Financial Commission (IFC), which ensures that the platform performs fair trading activities. The platform also offers two-factor authentication to enhance security further.
OctaFX is regulated by the Cyprus Securities and Exchange Commission (CySEC), which ensures the platform’s security and transparency. The platform provides SSL encryption, two-factor authentication, and segregated client accounts to ensure utmost security.
Both Olymp Trade and OctaFX are excellent trading platforms that provide a range of features to beginners. However, considering the parameters discussed above, Olymp Trade provides better trading tools for beginners than OctaFX.
Olymp Trade has a more modern and intuitive interface, provides broader range across different asset classes, offers an economic calendar, and has a range of educational resources. Moreover, the platform is regulated by IFC and provides excellent customer support.
On the other hand, OctaFX has a more classic design, offers more trading instruments, and provides professional-level charting packages.
In conclusion, beginners can choose either platform according to their preference and requirements. However, Olymp Trade holds an upper hand when it comes to the overall experience of beginner traders.
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