This contrast overview helps individuals who struggle to pick between OANDA and Olymp Trade to discover the very best online broker for their trading and investment demands. It examines the main features of both brokers side by side to assist users contrast their service and make an informed choice.
To aid individuals pick the ideal broker in between OANDA and Olymp Trade to locate the best-suited system, listed below is a list of broker’s advantages and disadvantages, adhered to by a contrast of their main trading functions, including trading platforms & tools, fees, mobile trading, deposit & withdrawal, assets, policy, and client support.
OANDA vs. Olymp Trade: Summary
OANDA is a reputable forex and CFD broker founded in 1996. It is regulated by seven tier-one regulators. [Note: This comparison is based on OANDA Corporation (US division), regulated by the CFTC and NFA. OANDA has multiple divisions with different regulatory bodies and conditions. Please refer to OANDA’s official resources for division-specific details at OANDA Divisions.] Their users have access to approximately 76 tradable instruments, including 68 forex pairs and 8 cryptos via Paxos. [Note: Instrument availability may vary by division.] Traders can choose between a proprietary platform (web and desktop version), MT4. Their trading platform has an intuitive design, offers automated trade execution, and multiple features for algorithmic trading. Market research features are powered by TradingView.
OANDA’s trading fees are above average compared to similar forex and CFD brokers like AvaTrade and Pepperstone. They charge an average spread of approximately 1.4 pips on EUR/USD for their standard account in OANDA Corporation (US division). [Note: Spreads may vary depending on market conditions, division, and account type, including different spreads for standard and premium accounts like Core Spread accounts.]
OANDA’s customer service in OANDA Corporation (US division) is available by email, live chat (chatbot), and phone, with initial filtering by a chatbot before connecting to an agent. [Note: Customer service availability and processes may vary by division.]
Olymp Trade is a multinational binary options broker based in Saint Vincent and the Grenadines. It is not regulated by any tier-one regulator and is not considered safe. Users can trade on various markets, including 35 forex pairs, 12 cryptocurrencies, 10 indices, 4 metals, 2 energies, and 12 stocks. Additionally, users can invest in stocks or speculate on options.
Olymp Trade trading fees are above average compared to similar brokers from the industry, like IQ Option and AvaTrade. They charge low spreads from 0.8 pips EUR/USD and $4 commission per lot on its ECN accounts. Payouts on options are 86.5%. The broker doesn’t charge non-trading or inactivity fees.
Olymp Trade’s customer support is available through email and live chat.
Pros
- Low minimum deposit ($10)
- Competitive forex spreads (0.8 pips EUR/USD)
- Compatibility with MT4 and TradingView
- Broad range of financial instruments
- High payouts on options (86.5%)
Cons
- Higher account tiers come with more benefits
- Non-transparent overnight fees and margin requirements
- Limited advanced charting and trading tools
Key features
- Access to 65 + forex currency pairs
- Compatibility with MT4 and TradingView
- Zero commission stock trading
- Wide range of available payment methods
- Low trading fees and high binary option payouts
- Bonuses of up to 100%
OANDA vs. Olymp Trade Comparison
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OANDA
Olymp Trade
BROKER COMPARISON
Trading Platform & Tools
| Automated Trading | ||
| Charting Tools | ||
| Conditional Orders | ||
| cTrader | ||
| Demo Account | ||
| Desktop Platform | ||
| Max Leverage | 1:50 | 500:1 |
| MetaTrader 4 (MT4) | ||
| MetaTrader 5 (MT5) | ||
| Mobile Version | ||
| Mutual Fund Management | ||
| Proprietary Platform | ||
| Social/Copy Trading | ||
| Trading Alerts | ||
| Trading signals | ||
| Watchlist | ||
| Web Version |
Fees
| Withdrawal Fee | $20 + Fee | 0 |
| Deposit Fee | 0 | 0 |
| Inactivity Fee | $10 a month after 12 months | $10 if no trades in a month |
| Cost Per Trade | 0 | 0 |
| Cost Per Month | 0 | 0 |
| Forex (EUR/USD) | 1.3 | 1.1 |
| Stocks & ETF | 0 | 0 |
| CFD (Gold) | 31 | 20 |
| Crypto | 0 | 0 |
| Options | 0 | 0 |
| Conversion Fees | 0 | 0 |
| Misc. Fees | 0 | 0 |
| Overnight Fees |
Deposit & Withdrawal
| Minimum deposit (in UAE) | $0 | $10.00 |
| Bank Wire | ||
| Credit/Debit Card | ||
| Cash | ||
| Check | ||
| Islamic Account Transfer | ||
| E-payments | ||
| Paypal | ||
| Skrill | ||
| Neteller |
Assets
| Shares | 0 | 80+ |
| ETF & Funds | 0 | 10+ |
| Crypto | 20+ | |
| Commodities | 0 | 10+ |
| Indices | 0 | 10+ |
| Options | 0 | 0 |
| Futures | 0 | 0 |
| Bonds | 0 | 0 |
| Forex Instruments | 68 | 100+ |
| CFD Indices & Funds | 12 | 21 |
| CFD Stocks | 0 | 40 |
| CFD Commodities | 35 | 6 |
| CFD Crypto | 0 | 21 |
| CFD Bonds | 3 | 0 |
| Binary Options | 0 | 0 |
| SWAPS | 0 | 0 |
| Saving Plans | 0 | 0 |
Research & Education
| Webinars | ||
| Educational Resources | ||
| Daily News Updates | ||
| Market Indepth Analysis | ||
| Pers. Training & Room | ||
| Market Research |
Customer Support
| Phone | ||
| Live Chat | ||
| 24/7 support | ||
| Multilingual | ||
| Personal Account Manager |
Winner
OANDA vs. Olymp Trade Comparison Conclusion
The results of our comparison of OANDA vs. Olymp Trade are involved the table listed below.
| Broker: | Best For: |
| OANDA | Forex and CFDs |
| Olymp Trade | Binary Options |
Picking the appropriate option in between OANDA and Olymp Trade can be tough. Both on-line brokers have similarities but differ regarding trading tools, systems & apps, guideline, down payment & withdrawals, and research and education. Picking the most effective broker relies on individuals’ trading & investment objectives, specific preferences, and experience degree.
To make a better-informed decision, users can read our detailed broker reviews, comparison or use our broker selector to help them find the ideal broker.