While choosing a binary options broker to trade with, you need to consider several factors. First, the binary options broker you choose to work with should be licensed and regulated. Other factors such as minimum deposit and service offered, come into play too. Trading with a good binary options trader gives you better chances of profiting from the trade. Two of the most popular binary options brokers are Expert Option and Olymp Trade. This is a short review that seeks to compare the two and draw a logical conclusion about which one is the best in specific circumstances.
Expert Option is a fairly new entrant into the binary options trading scene. Expert Option is a binary options broker based in St. Vincent and the Grenadines. The broker bust into the scene in 2015, and has risen through the ranks to become one of the biggest binary options brokers. The award-winning broker estimates that it has over 8.5 million registered traders on its platform. It is available in over 150 countries around the world. The broker is not available in USA, Canada, Israel, Switzerland among several others.
The account offers five types of accounts on its platform. The accounts are;
- Basic – minimum deposit of $50
- Silver – a minimum deposit of $500
- Gold – a minimum deposit of $2500
- Platinum – a minimum deposit of $5000
- Exclusive – entered through referrals
Expert Option offers up to 95% profit on stake amount in payouts. The broker is licensed and regulated by CROFR.
Olymp trade is about the same age as Expert Option. The brokerage entered the industry in 2014 and has seen a gradual rise since then. It is currently one of the biggest binary options brokers. Olymp trade currently has over 20000 traders trading every day on its platforms. The brokerage is based in Cyprus and has headquarters in Seychelles. It is also very active in Russia. It offers two types of accounts on its platforms. The accounts are;
- Standard – this is a basic account that requires a minimum deposit of $10.
- VIP – this is a more advanced account that requires a minimum deposit of $200. You are offered a personal account manager when you sign up for this account.
Olypm trade offers a payout of 85% profit on the staked amount for traders on the standard account, and 90% for those on the VIP account. It has lots of educational materials. The brokerage is also licensed and regulated by CySec as well as FCA. FCA insures the traders against fraud.
So, which one of these brokers can lay claim to being the best?
Which One is Better?
On the surface, Expert Option seems like the best binary options broker between the too. But lacks some fundamental features. First, the CROFR is not known, neither is it respected. That put the credibility of Expert Option in question. When the credibility of a binary options broker is questioned, all the other pros it has do not hold water as a far as comparisons are concerned. Olymp trade, therefore, rises on top as the best binary options broker between the two, whether you are a beginner or a veteran.
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