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IPS is a type of display, LED... well they're a light source, basically.

 

OLED on the other hand, is a type of display as well. 

 

OLED produces brighter and more vivid colours than IPS (some people even find it too vivid), and has darker blacks, because pixels that need to be black turn off completely. That allows for reduced power consumption if the content (or interface on a smartphone is optimised). However, OLED is more expensive to produce than IPS, and it degrades faster (although not to any significant degree, you'll throw away the device long before the display goes bad).

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They can both be in the same display. IPS is the panel type, whereas LED is how it's lit.

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IPS is a sub-set of LED. IPS displays have better viewing angles than TN panels (the other option) and usually superior color accuracy, but are slower responding and so typically don't have as high of a refresh rate. Some 120hz panels are slowly being introduced, but TN is still the way to go for high refresh rate gaming.

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Whats the diffrence of them ? i mean i've use both and i dont see any diffrence ? can you guys tell me the diffrence ?

 

IPS and LED aren't the same thing your comparing, IPS is the panel type and LED is just the back-lighting itself. IPS panels tend to give better and more accurate colors with wider viewing angles say compared to VA or TN panels.

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