When it comes to online trading, choosing the right broker is essential. Two of the most popular platforms in the market today are Deriv.com and Olymp Trade. Both offer a variety of trading options, but which one should you choose? In this article, we’ll compare Deriv.com vs Olymp Trade based on key factors like usability, asset offerings, fees, and customer support. This guide will help you decide which platform is best suited for your trading needs.
Before we jump into our full review, let’s take a quick look at the table below which provides a clear side-by-side comparison of the key features of both Deriv.com and Olymp Trade to help you quickly see the differences.
| Feature | Deriv.com | Olymp Trade |
|---|---|---|
| Platform Usability | Multiple platforms: DTrader, DBot, DMT5 (for all levels of traders) | Simple, user-friendly platform (ideal for beginners) |
| Asset Offerings | Forex, stocks, commodities, cryptocurrencies, synthetic indices | Forex, stocks, commodities, cryptocurrencies, indices (no synthetic indices) |
| Fees and Commissions | Commission-free, lower spreads, transparent fees | Commission-free, higher spreads compared to Deriv |
| Deposit/Withdrawal Methods | Bank transfers, credit/debit cards, e-wallets, cryptocurrency support | Bank transfers, credit/debit cards, e-wallets (no cryptocurrency support) |
| Withdrawal Speed | 1-2 business days | 1-5 business days |
| Customer Support | 24/7 live chat, email, responsive | 24/7 live chat, email (slower during peak times) |
| Regulation | Regulated by MFSA, Financial Commission | Member of the Financial Commission |
| Mobile Trading | Available on Android and iOS with full functionality | Available on Android and iOS, easy to use |
| Best For | All levels of traders, those seeking more asset variety and flexibility | Beginner traders seeking a simple platform |
Platform Usability
Deriv.com:
Deriv.com provides a user-friendly platform, offering three main trading platforms: DTrader, DBot, and DMT5 (MT5). Each caters to different levels of trading experience. For example, DTrader is perfect for beginners, while DMT5 is ideal for more experienced traders. The platform is sleek, and intuitive, and allows for customization.
Olymp Trade:
Olymp Trade also offers an easy-to-use platform. It has a simple interface that is especially suitable for beginners. The platform is designed to help new traders learn fast, but it can be somewhat limiting for advanced users who seek more complex features.
Verdict: Deriv.com has a slight edge here for offering multiple platforms for various skill levels, while Olymp Trade is more beginner-centric.
Asset Offerings
Deriv.com:
Deriv.com offers a wide range of assets to trade. You can choose from Forex, stocks, commodities, cryptocurrencies, and even synthetic indices. The inclusion of synthetic indices, which simulate real markets, sets Deriv apart from many other brokers.
Olymp Trade:
Olymp Trade has a wide range of tradable assets as well, including Forex, stocks, commodities, cryptocurrencies, and indices. However, Olymp Trade doesn’t offer synthetic indices, which could be a dealbreaker for some traders who are looking for this feature.
Verdict: Deriv.com offers more variety, particularly with its unique synthetic indices, giving it an advantage.
Fees and Commissions
Deriv.com:
One of the attractive features of Deriv.com is its transparent fee structure. The platform doesn’t charge commissions on trades, and spreads are competitive. There are no hidden fees, although overnight fees (swap rates) apply to some positions.
Olymp Trade:
Olymp Trade offers commission-free trading on many of its assets. However, the spreads can sometimes be higher than those found on Deriv.com. Like Deriv, Olymp Trade also charges swap rates for overnight positions.
Verdict: While both platforms offer commission-free trading, Deriv.com tends to have lower spreads, making it more cost-effective for frequent traders.
Deposit and Withdrawal Methods
Deriv.com:
Deriv.com offers multiple options for deposits and withdrawals, including bank transfers, credit/debit cards, and e-wallets like Skrill, Neteller, and Fasapay. It also supports cryptocurrency transactions, which is a plus for traders who prefer digital currencies. Withdrawals are generally fast, and processed within 1-2 business days.
Olymp Trade:
Olymp Trade also supports various payment methods, including bank transfers, credit/debit cards, and popular e-wallets like Skrill and Neteller. However, cryptocurrency withdrawals and deposits are not supported. Withdrawal times are usually between 1-5 business days, depending on the method used.
Verdict: Deriv.com takes the lead here, offering more flexibility with cryptocurrency transactions and faster withdrawal times.
Customer Support
Deriv.com:
Deriv.com provides customer support through live chat, email, and a comprehensive help center. Their live chat is responsive and available 24/7, making it easy for users to get quick assistance.
Olymp Trade:
Olymp Trade also offers 24/7 customer support via live chat and email. It additionally provides a detailed FAQ section to help users find solutions independently. However, some users report that response times can be slower during peak periods.
Verdict: Both platforms offer good customer support, but Deriv.com edges out slightly for its faster response times.
Regulation and Safety
Deriv.com:
Deriv.com is regulated by several financial authorities, including the Financial Commission and the Malta Financial Services Authority (MFSA). These regulations ensure that the platform adheres to strict financial standards, making it a reliable and safe choice for traders.
Olymp Trade:
Olymp Trade is a member of the Financial Commission, which provides users with a compensation fund of up to €20,000 in case of disputes. While it is not as heavily regulated as Deriv.com, it still operates under a trustworthy regulatory body.
Verdict: Deriv.com wins in terms of regulation, offering more assurance with its multiple regulatory licenses.
Mobile Trading
Deriv.com:
Deriv.com has a mobile app available for both Android and iOS. The app is well-designed, allowing traders to execute trades and monitor markets on the go. It includes most of the features found on the web platform.
Olymp Trade:
Olymp Trade also offers a mobile app for Android and iOS users. The app is intuitive and offers nearly the same functionality as the web platform, making it suitable for traders who want to trade on the move.
Verdict: Both platforms provide good mobile trading experiences, so this one’s a tie.
Conclusion
In the battle of Deriv.com vs Olymp Trade, the choice depends on your specific needs as a trader.
- If you’re a beginner looking for a simple, easy-to-navigate platform, Olymp Trade might be a better option.
- However, if you want more variety in asset offerings, lower fees, faster withdrawals, and additional tools for experienced traders, Deriv.com stands out as the better option.
At the end of the day, both platforms have their strengths, and the best choice comes down to your personal preferences and trading style. Make sure to try out the demo accounts available on both platforms before committing to real trading.
Editorial Staff at Chweya is a team of financial experts led by Vincent Nyagaka, with over 9 years of experience in finance, commerce, forex, crypto, and marketing. Started in 2014, Chweya is now among the largest free financial resource sites in the industry and is often referred to as Wikipedia for business.