Quotex vs Olymp Trade for Indian traders
Identical entry cost, identical payment routes, identical regulatory position — and Quotex ahead on the rest. This is the least close comparison in the category.
Quotex, without much argument. Same $10 entry and the same indirect UPI route, but an advertised ceiling of 98% against 92% and a stronger typical band on majors. We found no criterion where Olymp Trade leads.
Side by side, India columns only
 |  | |
|---|---|---|
| UPI deposit | Indirect | Indirect |
| Minimum deposit (advertised) | $10 | $10 |
| Real cost in ₹ (our calculation) | ~₹1,075 | ~₹1,080 |
| Advertised payout ceiling | up to 98% | up to 92% |
| Typical payout band, majors | 80–92% | 70–86% |
| Our score | 7.8 | 7.0 |
| RBI Alert List | Listed | Listed |
| SEBI licence | None | None |
| Free demo | Yes | Yes |
| Minimums and payout ceilings are as published by each platform and change without notice — verify on their site before depositing. The rupee row is our calculation at ₹95.82/$ mid-market (23 Sep 2026) plus a typical processor spread, not a quoted price. Both platforms appear on the RBI Alert List and neither holds a SEBI licence. | ||
The payout gap is the whole argument
A typical band of 80–92% against 70–86% moves the break-even win rate by nearly two percentage points. In a market where sustaining anything above 52% is already difficult, giving that away for nothing is the clearest argument here.
What is identical
- Entry cost: both a $10 minimum, roughly ₹1,075 once the processor spread is included
- UPI: indirect on both, through third-party processors
- Regulation: both on the RBI Alert List, neither SEBI-licensed
- Tax: 30% flat under Section 115BBJ either way
Verdict
Quotex. When the entry cost, the payment routes and the legal position are identical, and one platform offers a materially better payout band, there is not much left to weigh.
Frequently asked
Which is better, Quotex or Olymp Trade?
Quotex. Same $10 entry cost and the same indirect UPI route, but an advertised ceiling of 98% against 92% and a stronger typical payout band on major pairs.
Is Olymp Trade legal in India?
It is in the same position as Quotex: on the RBI Alert List, no SEBI licence, not banned. Neither platform is authorised here.
Do they cost the same to start?
Yes — both a $10 minimum, roughly ₹1,075 once the processor spread is included, and both route UPI through a third-party processor rather than accepting it directly.
Related guides
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Risk warning. Binary options are high-risk speculative products and the majority of retail traders lose money. A payout percentage is the return on a winning trade, not an expected return. Quotex is not authorised by SEBI and appears on the RBI Alert List; Indian residents remitting funds to unauthorised platforms may be exposed under FEMA and have no local dispute resolution. Nothing on this page is investment, legal or tax advice. Consult a SEBI-registered adviser and a chartered accountant before acting. Never trade money you cannot afford to lose entirely.