IQ Option vs. Olymp Trade vs. Binomo – Broker comparison

To find a good online broker is very hard because the offers for traders are quite large. In this review, I will compare the 3 biggest brokers (IQ Option, Olymp Trade, Binomo) for trading Binary Options and other leveraged financial products. With more than 5 years of experience in trading, I will show you exactly the details of each company and my official review. At the end of this comparison you will see which broker is the best for you. Get professional information to trade with the best conditions on the financial markets.

Note:

This comparison includes all checkpoints to find a trusted and reliable broker

Regulation and safety for customers

If you do online investments the company where you are investing should be regulated and safe. In the next section, I compare the regulation and safety of customers. IQ Option, Olymp Trade, and Binomo are regulated companies. Overall, IQ Option is the best-regulated broker because the company is officially regulated by and European authority (CySEC). Olymp Trade and Binomo are regulated by the International Financial Commission which applies to no country und is independend.

IQ OptionOlymp TradeBinomo
Regulation:CySEC (EU)International Financial CommissionInternational Financial Commission, FMRRC
Compensation fund:20,000€20,000€20,000€
Safety:Two-factor authenticationTwo-factor authentication
Summary:5 out of 5 stars (5 / 5)4.5 out of 5 stars (4.5 / 5)4.5 out of 5 stars (4.5 / 5)

Review of the offers and conditions for traders

In the next section I will give you an overview of the conditions for traders. That means what you can trade on the platforms and which offers are available. Every trader wants to make much profit as possible. So the broker should have a high return on investment and low trading fees.

More than 500 assets are available on regular market hours with IQ Option

In addition, it is important if you can test the platform with a free demo account and how high is the minimum deposit and minimum trade amount. Before you invest real money you should know all the conditions of the brokers in order to make much profit as possible. Also, it is necessary to get a good overview of the markets and assets. What is available and what it is not? – Find out at the next table.

IQ OptionOlymp TradeBinomo
Markets:Forex, cryptocurrencies, stocks, ETFs, commodities, metalsForex, cryptocurrencies, commodities, metalsForex, cryptocurrencies, metals
Assets:500+200+200+
Financial products:Options, Digital Options, Forex, CFDsOptions, ForexForex
Leverage Forex:max. 1:1000max. 1:500
Demo account:FreeFreeFree
Minimum Deposit:10$10$10$
Minimum trade:1$1$1$
Return of investment (Options):Up to 100%Up to 92%Up to 90%
Summary:5 out of 5 stars (5 / 5)4.9 out of 5 stars (4.9 / 5)4.8 out of 5 stars (4.8 / 5)

Noticeably IQ Option wins the comparison of the conditions. You can trade the most markets, the most financial products, and get the best return of investment with this broker. That does not mean that the other 2 brokers are bad but IQ Option got the best offers for traders.

Review of the Trading Platforms of IQ Option, Olymp Trade, and Binomo

First of all, you should try the trading platform by your self. You can easily create a free demo account with virtual money to test each trading platform. The trading platform is the most important tool for a trader. The platform should be easy to use and flexible. Furthermore, there should not be any lags or connection losses between the trade and the broker. Personally I tested each platform with real money so I can present your trusted results.

IQ OptionOlymp TradeBinomo
Devices:Computer, Tablet, Android, iOSComputer, Tablet, Android, iOSComputer, Tablet, Android, iOS
Multi Charting:YesYes
Chart types:444
Indicators:YesYesYes
Customizeable:YesYesYes
Timeframes:All timeframesAlle timeframesAll timeframes
Support:24/724/724/7
Education:Videos & TutorialsVideos & TutorialsVideos & Tutorials
Special:Trader chat, news, tournaments, market analysisAnalysisTournaments
Execution of trades:Very fastVery fastVery fast
Summary:5 out of 5 stars (5 / 5)4.9 out of 5 stars (4.9 / 5)4.8 out of 5 stars (4.8 / 5)

In my opinion, IQ Option got the best trading platform worldwide. It is very easy to use and got all the professional functions you need for successful trading. Compared to the other platforms IQ Option offers the most functions and customizability. The handling is very good. For this comparison I can recommend all 3 platforms but if you want to choose the best you have to open an account with IQ Option.

Next, to the multi-charting platform you get access to indicators, analysis, and widgets which will help you to find a good strategy. In addition, you can chat with other traders about trading ideas in a worldwide chat. If you want to trade stocks or cryptocurrencies IQ Option will present you with the best news about your asset. You can see the earnings and much more information about the markets.

Deposit and withdrawal methods for funds:

It is very easy to deposit and withdraw funds with online brokers. You can use different payment methods to fund the account. Through my review the country of your residence matters. Not every payment method is available in every country. So do not be surprised if you find other payment methods in your account than in my table below.

In comparison, IQ Option offers the most payment methods for traders but with Olymp Trade and Binomo, it is also no problem to do money transactions. Most of the time you can use more than 5 different methods.

How long does it take to make a withdrawal?

Withdrawals are very fast with IQ Option, Olymp Trade, and Binomo. It can take up to 3 business days but most withdrawals are done in less than 5 hours. Before do a withdrawal you should complete your trading profile. The broker needs information about your identity. Sometimes it is possible to do withdrawals without verification but the broker can ask you to provide additional documents.

IQ OptionOlymp TradeBinomo
Payment methods:Bankwire, credit cards, Neteller, Skrill, Qiwi, AdvCash, AstroPay, Boleto, PayPalCredit cards, Skrill, Neteller, WebMoney, Bitcoin, Yandex, Qiwi, BitcoinCredit cards, JCB, Webmoney, Neteller, AdvCash, Perfect Money, Bitcoin, Litecoin
Fees by the broker:
Duration:1 – 3 days1 – 3 days1 – 3 days
Summary:5 out of 5 stars (5 / 5)4.9 out of 5 stars (4.9 / 5)4.9 out of 5 stars (4.9 / 5)

Support and service for traders

Each broker offers phone, chat, and email support 24/7 in different languages. So there is no much difference between the offers. But for a complete review, you have to look into the additional offers for traders.

On each platform, you can watch education and analysis videos. Furthermore, there are strategies and professional knowledge available. Beginners should read through education centers. Also, analysis of the markets is every day available. In conclusion, there is not so much difference between the service and support for traders. Overall, you will get a good service with each broker.

IQ OptionOlymp TradeBinomo
Support:24/724/724/7
Type:Phone, chat, emailPhone, chat, emailPhone, chat, email
Service:Account managersAccount managersAccount managers
Education:Videos, strategies, daily analysisVideos, strategies, daily analysisVideos, strategies, daily analysis
Summary:5 out of 5 stars (5 / 5)5 out of 5 stars (5 / 5)5 out of 5 stars (5 / 5)

Account types

Another type of service for traders are account types. The normal standard account is available with a 10$ deposit. If you deposit more money you get access to more features and higher return of investment. Each broker offers a VIP account for traders. The VIP is a very good way to improve your profit and success.

IQ OptionOlymp TradeBinomo
Standard account:10$10$10$
VIP Account:3,000$2,000$1,000$
Advantages:More profit and better supportMore profit and better supportMore profit, better support, cashback
Summary:5 out of 5 stars (5 / 5)5 out of 5 stars (5 / 5)5 out of 5 stars (5 / 5)

Overall, Binomo offers the best VIP account because you will get the status with only a 1,000$ deposit. In addition, a 10% cashback of your trades is possible but in conclusion, it only will make the conditions better for a trader with big money.

Conclusion: IQ Option wins the comparison and review

On this website, I showed you all conditions and information about the broker IQ Option, Olymp Trade, and Binomo. In conclusion, IQ Option wins the comparison and is in my opinion the best online broker for a huge variety of investments.

In each case, IQ Option is better than its competitors. You will get the best trading platform and conditions for Binary Options and the highest return of investment which is up to 100%. Furthermore, you can invest in other financial products like cryptocurrencies, ETFs, stocks, or forex. Just open a free demo account to test the platform by yourself.

Summary: 

  1. IQ Option
  2. Olymp Trade
  3. Binomo

Advantages of IQ Option:

  • A regulated and safe company
  • Minimum deposit 10$
  • Free demo account
  • More than 500 markets
  • Best trading platform
  • High return of investment 100%+
  • Professional support 24/7

IQ Option is the best online broker for trading financial products. The overall package beats the competitors. 5 out of 5 stars (5 / 5)

Andre Wi,Professional Trader