Binomo vs Olymp Trade Comparison Table
|Binary Options Broker||Maximum Payout Rate||Minimum Deposit|
Olymp Trade vs Binomo Comparison
Both of these brokers offer binary option trading on user friendly trading platforms. Each has a low minimum trade size of $1 and a low minimum deposit of $10. Both provide account types with additional features for higher minimum deposits (e.g. VIP accounts). Thus the trader can trade with a smaller or larger account size. Both brokers offer a similar maximum payout rate for their High/Low trading format, however Olymp Trade has a higher maximum payout rate for its Classic format.
Minimum deposit and minimum trade size
- The minimum deposit for Binomo is $10 (but can be lower in some countries). The minimum deposit for Olymp Trade is $10.
- The minimum trade size for Binomo is $1. The minimum trade size for Olymp Trade is also $1.
Formats, payout rates and account types
- Binomo offers trading in High/Low, where the value of the option at the end of the trade is compared with its value at the start. The maximum payout rate varies depending on the account type. The Standard account offers payout rates up to 85%. The Gold account offers payout rates up to 86%. The VIP account offers payout rates up to 87%.
- Olymp Trade offers trading in two formats, Classic and Time. Classic is a format with payout rates up to 100%, where the trader chooses a strike price and an Up or Down direction, with time frames from 1 to 5 minutes. Time is a High/Low format with a maximum payout rate of 92%, where the trade has to be higher or lower than its value at the start of the trade.
- Binomo offers three live trading accounts. These are Standard, Gold and VIP. All accounts allow for participation in tournaments. The minimum deposit for the Standard account is $5, for Gold $500 and for VIP $1000. Gold allows for faster withdrawals, higher payout rates, a personal manager, trading strategies and weekly cashback of 5%. VIP allows for higher payout rates, even faster withdrawals, and expanded list of markets to trade, exclusive features and weekly cashback of 10%.
- Olymp Trade offers 2 account types, Regular and VIP. The minimum deposit for the regular account is $10. The minimum deposit for the VIP account is $2000. The VIP account offers a higher maximum payout rate than Regular (92% vs 82%) a higher maximum trade size than Regular ($5000 vs $2000) and includes a personal consultant, individual training, private webinars, strategies, signals and events.
Platform and markets
Binomo provides a trading platform for desktop and mobile trading apps.
Olymp Trade offers a trading platform available for desktop and mobile trading apps.
- Binomo offers binary options markets, covering Forex Pairs, Stocks, Commodities, Indices and Cryptocurrencies.
- Olymp Trade offers binary options markets, covering Forex Pairs, Cryptocurrencies, Energy, Indices, Metals, Stocks and ETFs.
Fastest trade time
The fastest trade time on Binomo is 30 seconds. The fastest trade time on Olymp Trade is 1 minute.
Why Binomo or Olymp Trade ?
Traders who want to trade binary options on a user friendly trading platform can do so at either broker. Each lets the trader trade with smaller account sizes, offering a low minimum deposit and trade size. However for traders who want to trade with larger sums, then each offers account types with additional features for higher minimum deposits.
- Both offer binary options trading
- Each has a minimum trade size of $1
- Both offer a minimum deposit of $10
- Each provides VIP accounts, with higher minimum deposits
- Binomo has a faster trade time