Olymp Trade vs FXTM

Olymp Trade vs FXTM Comparison Table 2024
Olymp Trade FXTM
1.5
4
United States Flag Traders from US not accepted
United States Flag Traders from US not accepted

Olymp Trade was established in 2014 and now boasts over 89 million traders. With a presence in over 130 countries and support in 13 languages, the brand offers a stable platform and attractive rewards for new traders. Olymp Trade also offers fixed time trades (FTT) over a diverse range of markets. The brand is licensed offshore by the VFSC.

FXTM is a top-rated forex and CFD broker established in 2011 and operating across 4 continents. The company is secure and regulated by leading authorities, including the FCA and CySEC. Offering 1000+ day trading markets and three account types, they cater to all levels of trader.

Bonus Offer
30% up to $100 via Exinity Ltd
Comment by Reviewer
"Olymp Trade remains a good choice for beginners looking for a user-friendly bespoke platform and mobile app, plus 24/7 customer support. The $10 minimum deposit makes it easy to get started, however, the range of additional day trading tools trails competitors." "FXTM is a good pick for day traders seeking low forex commissions on the MetaTrader 4 platform. That said, the range of other assets is not extensive for those looking to diversify, especially stocks and cryptocurrencies."
Pros
  • Short-term strategies are catered to with scalping signals and chart timeframes from 5 seconds
  • Diverse range of day trading markets including commodities, cryptos and composite indices
  • Over 10 flexible payment methods available including bank cards and Bitcoin deposits
  • Beginner-friendly blog section with analytics, trading education and market news
  • Minimum deposit and withdrawals of only $10, ideal for newer traders
  • Fixed time trades (FTT) on popular markets with payouts up to 93%
  • 24/7 customer support via the broker's hotline, email or live chat
  • Commission discounts up to 20% for experienced investors
  • The broker delivers an excellent charting environment for day traders, with over 30 technical tools offered in the MT4 platform, plus a range of additional platform indicators for monitoring spreads, orders, pivot levels and more
  • Beginners can access a strong range of free educational materials and short-term market insights, including a podcast hosted by the brand’s expert team
  • FXTM offers free VPS hosting for active day traders looking for 24/7 uninterrupted connection with up to 99.9% uptime
  • The broker has a good reputation with multiple industry awards and oversight from top-tier regulators like the CySEC
  • Customer support is reliable and available in 30+ languages, making FXTM a top choice among global traders
  • Negative Balance Protection is available to clients registering with the EU and UK entities
Cons
  • Weak regulatory oversight and offshore registration means traders will receive limited safeguards compared to top alternatives
  • Only one proprietary platform available, with no access to popular third-party software such as MT4 or cTrader
  • Commissions charged on all assets - up to 15% on standard trades and up to 10% on FTT
  • The best conditions are available only to those who can deposit at least $500
  • Very limited range of charting tools and indicators on the platform
  • Research and education trails most alternatives
  • Limited transparency on the website
  • It’s a shame that ETFs and bond products are not available, and the selection of stocks is not extensive compared to competitors like AvaTrade
  • Spreads are mediocre in the commission-free accounts, with typical EUR/USD spreads around 1.9 pips - the industry average is around 1.2 pips
  • Withdrawal fees apply, including a 30 EUR fee on bank wire withdrawals
  • There are limited e-wallet payment options compared to alternatives
Awards
  • Best Mobile Trading Platform - World Finance Awards 2021
  • Best Investment Broker - The Forex Awards 2021
  • Best FX Trading Platform - Forex Expo 2020
  • Best Trading Experience 2021 - World Finance Awards
  • Best Online Leveraged Trading Services 2021 - Global Business Awards
  • Best Forex Education Partner Nigeria 2021 - World Business Outlook
  • Best Trading Experience 2020 - World Finance Awards
  • Best ECN Broker 2020 - DayTrading.com
Instruments
Forex, CFD, Stocks, Indices, Commodities, Crypto, ETFs, OTC, Fixed Time Trades Forex, CFDs, Indices, Commodities, Stocks
Demo Account
Yes Yes
Minimum Deposit
$10 $10
Trading Platforms
  • Olymp Trade Platform
  • FXTM App
  • MT4
  • MT5
Payment Methods
Minimum Trade
$1 0.01 Lots
Regulator
VFSC CySEC, FCA, FSCA, FSC
Margin Trading
No Yes
STP Account
No Yes
ECN Account
No Yes
DMA Account
No No
MAM Account
No Yes
PAMM Account
No Yes
LAMM Account
No No
Demat Account
No No
AI / Machine Learning
No No
Robo Advisor
No No
Negative Balance Protection
No Yes
Market Maker
No Yes
P2P Trading
No No
Spot Trading
No Yes
Mobile Apps
Android & Windows iOS & Android
App Review

FXTM deliver a great mobile trading experience. Fast, secure and easy-to-use, the app supports both MetaTrader 4 and 5 and delivers real time quotes, all trading execution types and full account maintenance. The charting facilities are also among the best of any mobile app. Download it today.

Android App Rating
4.4
iOS App Rating
4.8
Auto Trading
Expert Advisors (EAs) on MetaTrader
Copy Trading
No No
Social Trading
No No
Trade Signals
Yes
VPS Hosting
No Yes
Tournaments
No No
Demo Competitions
No No
Ethical Investing
No No
Custodial Account
No No
Guaranteed Stop Loss
No No
Inactivity Fee
$10 $5
Islamic Account
Yes Yes
Account Currencies
  • USD
  • USD
  • EUR
  • GBP
Stock Exchanges
Commodities
CFD Trading
You can speculate on a small range of CFDs covering popular asset classes such as forex, indices, commodities, cryptos and ETFs. Whilst prices trail the best brokers, the CFD trading platform is a compelling solution for beginners looking for simplicity, and you can get started with just $10. FXTM’s CFD offering spans 250+ forex, stocks, commodities and indices, plus crypto CFDs at the global entity. Leverage up to 1:30 is available from the CySEC-regulated branch, though highly seasoned traders can also access massive 1:2000 rates from the global entity.
Leverage
1:2000
FTSE Spread
1.3
GBPUSD Spread
0.2
Oil Spread
5.0
Stocks Spread
0.1
Forex Trading
Olymp Trade offers the industry average of around 30 currency pairs. Spreads came in at 1.1 pips for EUR/USD during tests, which is not the most competitive compared to leading brands like AvaTrade (0.9 pips). That said, experienced traders can access multipliers up to x500 on major pairs. FXTM offers a strong range of 60+ currency pairs - more than many competitors including AvaTrade. There’s also 6 currency indices for day traders looking to diversify their forex portfolios. The brand’s ECN account offers competitively low spreads from 0 pips, with equally low commissions up to $2 per lot.
Forex App

FXTM deliver a great mobile trading experience. Fast, secure and easy-to-use, the app supports both MetaTrader 4 and 5 and delivers real time quotes, all trading execution types and full account maintenance. The charting facilities are also among the best of any mobile app. Download it today.

GBPUSD Spread
0.2
EURUSD Spread
1.1 0.1
EURGBP Spread
0.6
Assets
30+ 50+
Currency Indices
  • USD
  • USD
  • EUR
  • GBP
  • JPY
  • AUD
  • NZD
Cryptocurrency
Olymp Trade offers a handful of leading cryptos like Bitcoin and Ethereum. The Basic Altcoin Index is also a great addition, offering broader exposure to the currency market for those that don't want to put all their money in one crypto. Cryptocurrency CFDs are available on 11 popular digital coins for those using the international entity. Bitcoin is available, alongside popular altcoins like Avalanch and Dogecoin. Spreads are floating and minimum lot sizes from 0.01 are available.
Spread
Variable Variable
Coins
  • BTC
  • ETH
  • LTC
  • DASH
  • AVX
  • BNB
  • BCH
  • LNK
  • DOGE
  • GLM
  • SOL
  • XTZ
  • XRP
  • ADA
  • DASH
  • EOS
  • KSM
  • MAT
  • DOT
  • XLM
  • UNI
  • BTC
  • ETH
  • LTC
  • XRP
Crypto Lending
No No
Crypto Mining
No No
Crypto Staking
No No
Auto Market Maker
No No
Binary Options
Olymp Trade offers fixed time trades (FTT) on a diverse but modest range of markets, from OTC currencies to composite indices. FTT commissions are charged between 5%-10% and you can trade with ultra-short time frames from 5 seconds. Payouts are available up to 93% for those who can afford the $2000 'Expert' status deposit. Binary options trading not offered
Payout
93%
Expiry Times
5 seconds - 23 hours
Ladder Options
No No
Boundary Options
No No
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