The best Quotex DEMO Alternative

Before you begin your trading journey using a demo account offered by any online broker, it is essential to ensure that you are trading with the right trading platform. Yes, you may trying to open a demo account with Quotex or any other fixed time trading platform. However, you may do not know that better options are available for you to start your trading journey. Olymp Trade is one of such trading platform that you can try out. You will able to compare Olymp Trade with Quotex and choose the better broker.

Olymp Trade platform entered into the financial trading market 10 years ago while Qxbroker entered 5 years ago which means OlympTrade is older than Quotex trading platform. Olymp Trade is an award winning platform which is recently named as Most Transparent Broker by World Finance magazine, Most Trusted Financial Broker in Latin America and Best Online Trading and Investment Platform in MENA region by World Business Outlook. We were unable to find out any award that has been awarded to Qxbroker recently. Furthermore, Olymp Trade mobile app has been downloaded by 10 million users while Quotex mobile app still has 1 million downloads at Google Play store. This shows that Olymp Trade is an established company when compared to Quotex. Typically, traders prefer established companies as it gives them a safer and more comfortable environment to enjoy their online trading journey.

These two brokers offer deposit and withdrawals via major credit or debit cards. However, Quotex offers limited deposit and withdrawal methods when compared to OlympTrade. If you are looking for a platform that supports popular e-wallets such as Skrill, Neteller, WebMoney, FasaPay and AstroPay, OlympTrade is the best option as they support these payment methods while Quotex only supports limited number of e-wallets such as Perfect Money.

Although there is up to 93% return on investment within a pre-determined period from 1 minute to 23 hours for fixed time trades, it may not suitable for all traders. Forex trading would be the better option for those who want to have typical risk management options such as stop loss and take profit. At this time, Quotex platform offers only digital options trading for their customers. When it comes to Olymp Trade, traders can trade fixed time trades as well as forex trading with zero spreads and transparent commissions starting from 0.6pips which means it is a good alternative for those who are looking for both fixed time trades and forex traing on a single trading platform. You will be able trade against all major currency pairs including EUR/USD, USD/JPY, GBP/USD as well as minor currency pairs such as EUR/GBP, EUR/JPY, GBP/JPY, GBP/CAD etc. You can practice forex trading with the same demo account by changing the trading mode to forex trading.

If you are an experienced trader who use both technical analysis and fundamental analysis for your trading strategies, you need to have the main charting indicators such as moving average, simple moving average, Bollinger bands, ichimoku cloud, alligator and parabolic indicator as well as oscillators such as MACD and RSI. You also need to have financial market insights to do fundamental analysis. Both Quotex and OlympTrade trading platforms consists of these charting tools and market insights which helps you to plan and execute your trades accordingly.