Olymp Trade Review 2020

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Sign-up Bonus!

  • Binomo
    Binomo

    Trustful Broker!

Contents

Olymp Trade Review: Your in-depth Guide

With advances in technology within the financial sector, it has allowed many individuals to find new avenues to profit from the financial markets. Olymp Trade is a website that allows you to trade or bet on certain markets such as crypto or currency pairs. The idea with Olymp Trade is it allows you to access markets that otherwise require large capital requirements, through different means and methods. This article will go over Olymp Trade and you can decide for yourself if this company is right for you.

What Is Olymp Trade?

Olymp Trade has been around since 2020, in offering various trading instruments. With continued growth and evolution, the company provides users with a seamless platform that allows for potential portfolio growth. From there, the company offers its users various educational options to expand their knowledge of trading and the markets in general. Through webinars or one-on-one consultations, there appears to something to fit most traders needs. That being said, the company shows increasing payouts, increasing users, and increasing trades per month.

Is Olymp Trade Platform Reliable?

Given the various different platforms to trade and utilize, it would be uncommon for you the end user not to be skeptical. According to OlympTrade’s website, they are a member of the International Financial Commission. They joined in February of 2020, and this states that deposits can be refunded up to $20,000 in the event of fraud by the legal assistance, and full access to educational information. Here you can read testimonials about Olymp Trade platform.

Should you encounter an issue, Olymp Trade states they will respond within 24 hours. If 14 days lapse with no resolution, you can file a claim with the FinaCom and escalate your issue accordingly.

How Does Olymp Trade Work?

With the various trading platforms out there, there are many different products but typically they are all in the same area. Olymp Trade offers three different types of trading mechanisms and we’ll go over them individually, allowing you to find what may fit you best.

Digital Options

The first product is a digital option, which is described as first selecting your asset. We’ll go over the different assets shortly, but for now, you can trade currency pairs, commodities, stocks of major global companies, and exchange indexes. From there, you can decide your trade amount. The size with which you trade will determine the payout amount, should you investment decision be correct. Then, you set the time or expiration time for your digital option. Once you’ve selected a time, you then select the strike price, or the price you believe the underlying market to be above or below, depending on your opinion. Finally, after you’ve made your decision you are ready to execute your trade. Should you want to close your position early, Olymp Trade offers a special tool that can allow you to close your position and get a refund.

Time Options

Secondly, you can utilize the time options that Olymp Trade provides. First you will need to switch over to the time tab on the trading platform. Then you can start by choosing the asset you wish to begin trading. When you select your asset, you will see time to expiry, which is the time left until that option expires. Simply, if the trade expires in the money, you will make a profit, but if it does not, you will lose the amount invested at the time of the option purchase. The idea here is you have a defined set of limits that allows you to define your trade quicker.

Pending Trade

Lastly are the pending trades, which is “a mechanism that enables you to delay trades or trade when an asset reaches a certain price”. In traditional market speak; it works similar to a stop loss or setting a specific purchase price, rather than a market order. According to their website, this can only be utilized for a “classic” type of option. Should you set a pending trade, if your criteria is not met within 24 hours, your request will expire. This option allows you to put forth an order without the constant need to be watching your screen.

What Assets Can You Trade?

Olymp Trade, as already mentioned offers trading on currency pairs, commodities, stocks of major global companies, and exchange indexes in Europe, Asia, and the United States. Having the ability to trade different assets gives you the flexibility to find what fits your portfolio best.

For the currency pairs, you can trade EUR/USD, USD/JPY, GBP/USD, USD/CHF, USD/RUB, AUD/USD, and many more. You can view the complete list here, as it covers many different currency pairs. Also on that list are the equities, which include the likes of Apple, Microsoft, McDonalds, and BMW. These are some of the most popular, well-known, and highly traded equities in the world. Lastly, you will find the major indexes around the world, included the S&P 500 and FTSE 100.

Also, for those of you interested in cryptocurrency trading, Olymp Trade has various cryptocurrencies that include Bitcoin, Litecoin, and Ethereum. This can be an effective way to begin learning and gaining experience in the cryptocurrency space.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Sign-up Bonus!

  • Binomo
    Binomo

    Trustful Broker!

Type of Accounts

Knowing the different types of accounts are important because depending on your trading goals, you need the right account to fit your needs. First, Olymp Trade does offer a demo account to gain a level of familiarity with their platform. It doesn’t make sense to purchase a car without test-driving, and it doesn’t make sense to lose money due to you being unfamiliar with the platform. Opening a demo account will provide you with $10,000 in virtual money, allowing you to test-drive the platform and see if it is a good fit for you.

Secondly, there is the regular account, which is as simple as it sounds. This is the account you open and fund to begin trading on the Olymp Trade platform. The minimum deposit amount is $10 to get started, and the smallest trading size is $1. Certainly you can deposit more as time progresses, but if you wish to withdraw your funds, keep in mind the withdraw minimum is $10 as well.

Lastly is the VIP account, which first must be satisfied by depositing an initial $2,000. According to their website, VIP status will grant you a personal VIP consultant, 92% profit on trades, and risk-free trades. Also, your maximum trade amount will be increased from $2,000 to $5,000, as well as a few other VIP only benefits.

Olymp Trade Mobile Platform

Given that financial technology continues to grow, it is important to have access to your account on the go. Olymp Trade offers mobile trading on both iOS and Android operating systems. This allows you to access the market while you are away from your computer, make deposits and withdraws, and monitor any current positions you may have.

Free Education with Olymp Trade Academy

Olymp Trade provides users with a plethora of information and educational videosВ on various financial topics, as well as trading strategies. When beginning to trade the financial markets, it can be intimidating with the amount of information that is out there. With the education center at Olymp Trade, you can go through the various topics and find what fits your needs and strategies best.

You can even take your learning a step further with webinars that can go further into detail about certain topics and strategies. Whether you utilize the strategy or not, it is beneficial to know about the options out there should you update your own personal strategy or the markets change.

How To Open An Account

Once you’ve decided you would like to open an account, the steps are simple. You can go to the website and fill out the forms accordingly with the requested information. From there, you can fund your account with the minimum of $10 required.

When you’ve opened your account, you may request to undergo the verification process. This process includes a color copy of your passport page or ID card. Then you will need to take a photo of you holding the passport, as well as confirmation of the payment used in the trading account. Olymp Trade states this process could take up to five business days to complete. Once completed, your verification process is complete.

Deposits and Withdraws

As previously stated, to fund the account you need a minimum of $10 dollars and the same amount is required for minimum withdraws. To begin trading, you position size must be at least $1.

Olymp Trade Service Agreement

Before registering with Olymp Trade or any other financial company, it is important to read the Service Agreement to fully understand what is expected of both parties. Many times, and individual overlooks these details and it costs them should an issue arise. Typically the Service Agreement is fairly straight forward, but it is up to you to determine if you agree with the content. For example, section 5.3 states Olymp Trade can refuse communication if you use profanity, an emotional valuation, or speak ill of the company.

Also, ensure that you understand the laws with which the company is governed; in this case it is Saint Vincent and the Grenadines.

Overall Conclusion

The overall conclusion is Olymp Trade can potentially be a useful way to gain exposure to the markets, without opening traditional brokerage accounts. Difficulties in traditional trading accounts include the margin requirements and having the right software in place. With Olymp Trade, they offer educational information, webinars, and a demo account for those that are new to the platform. Certainly this type of trading is not for everyone and involves risk. However, it is up to you to determine if it is the right fit for you. Some other potential drawdowns to consider include the limited selection of equities as well as the limited selection of trading products.

Check out Olymp Trade’s official website and see for yourself. This platform could be the beginning steps into taking your financial future into your hands. If you have any specific questions, email the company directly. Also, if you have any experience with Olymp Trade or have information relating to the trading products, leave a comment below for others to view.

Olymp Trade India #1 Review

User Review

Summary

Founded in 2020, Olymp Trade is an online trading platform that not only presents an opportunity to earn, but also to learn. The team behind the online trading platform comprises fundamental and technical analysts, who are fully capable of developing innovative trading strategies. They also train customers on how to successfully implement these strategies through webinars and online meetings.

Pros

• Free training for experienced traders and beginners
• Sign in with Facebook or Google+
• Trade on iOS and Android smartphones and tablets and desktop computers

Cons

• Small selection of assets
• Few trading options

Reasons for Indian Traders to Register at Olymp Trade

    25,000+ users trade daily on the Olymp Trade platform Interact with fellow traders on Facebook and YouTube Regular contests and special offers 24/7 support in 8 languages and 15-second response time

Olymp Trade is the winner of the following industry awards:

    “Best Trading Platform 2020“ The Forex Awards “Best traders FB community in Thailand“ Traders Fair 2020 CPA Life Awards’ Best Financial Broker (2020) IAFT Awards’ Innovative Broker (2020) ShowFx World’s Fastest Growing Broker (2020)

Here is a list of latest facts and figures we found on the Olymp Trade website:

    The financial service paid a total of $13,703,840+ in profits to lucky traders in March, 2020. Its payout rate is increasing by a 7% average. The trading platform serves more than 25,000 online traders daily. As many as 247,250+ traders purchased trades on live accounts in March, 2020.

The company’s turnover was $179,229,300+ (in March, 2020)

What is Olymp Trade and How it Works?

Olymp Trade offers two varieties of trades:

  1. 1-Click trade – Also referred to as Up Down Trades, they allow traders to open trades without confirmation – just click&trade.
  2. 1-Click closing – These present a convenient and up-to-date way of trading on active markets. It is possible to open a trade by selecting the expiry time. If correct prediction is made, traders can increase their profits by as much as 92 percent of the amount they invest. There is a risk of loosing investment in case of wrong prediction.

Olymp Trade offers two ways to trade:

Fixed Time Trades

The steps for Fixed Time Trades are as follows:

    Traders have to select the asset they would like to trade. They have to choose the amount they would like to trade as their profits depend a great deal on the investment amount. They can make as much as 100% profits on a trade. The next step is to choose a time frame and strike price. The trading platform compares strike price to asset price at the closure of a trade. Accordingly, up trades earn profits when asset price is more than the strike price and down trades earn profits when asset price is less than the strike price. Customers have to decide whether the asset price will rise or fall. Traders have the option of using a tool called Sell to close trades early and claim a refund before they expire.

The steps for FX trading are as follows:

    Select the Time tab and open the chart related to any asset of your choice. The option “time left for buyout” indicates the time left to purchase the FTT. The option “time left for expiry” indicates the time left for the FTT to expire. Traders have to choose the time of trade closure. They have to then make a prediction. If their prediction turns out to be correct, they will make a profit. If they make the wrong call, it will result in a loss.

Pending Trades

Olymp Trade offers a mechanism called pending trades, which enables customers to delay a trade or make a trade only when the asset price reaches a certain level. In other words, they can use Fixed Time Trades only when their pre-determined conditions are satisfied.

Is Olymp Trade Reliable?

Being an A category member of the Financial Commission, Olymp Trade is a reliable online trading service. Those trading on the platform report that its services are high quality and that the platform delivers excellent support, quick dispute resolution, and deposit insurance to all traders. Victims of fraud / scam can claim compensation of up to €20,000 at Olymp Trade. In addition, customers can rest assured of quick assistance in case of problems.

Olymp Trade became a member of the International Financial Commission (FinaCom) in February 2020. The FinaCom accepts as members only companies that are known for their repeated demonstration of quality, reliability, and integrity. You can view the membership certificate on the Olymptrade website.

How to Start Trading with Olymp Trade?

The online registration form is right on the homepage. Enter your name, email address, and mobile number. Choose your currency and create a password. Check the box to show that you are of the legal age to trade in India and that you accept Olymptrade’s terms and conditions. Finally, click on the blue “Register” button.

Alternatively, you can sign in with a Google or a Facebook account.

Types of Accounts – Demo, Real Money, and VIP Accounts

  1. Demo Account – Getting started at Olymp Trade with a demo account is highly recommended. When you create a demo account, you will receive 10,000 in virtual funds.
  2. Real Money Account (Starter) – While opening a real money account, you should deposit at least $10 in your account. You can now start trading.
  3. VIP Accounts – Olymp Trade allows you to open an Expert account if you are making a lot of trades. But you have to call the number 0008000402044 for complete details. The official website does not offer many details about Advanced / Expert accounts, but we gather that you can enjoy the following benefits as a VIP trader:
  • Up to 92% profits (for Expert account, and up to 84% for Advanced account)
  • Personal Analyst
  • Trading signals (basic and private)
  • Maximum number of open position (10 for Starter, 20 for Advanced and 30 for Expert account).
  • Unique strategies (7 for Advanced and 15 for Expert)
  • Risk-free trades (5% of the deposit for Expert account)
  • Private VIP webinars (1-3 per week)

How to Open a Free Demo Account

You can get started with a free demo account at Olymp Trade. Getting started is as simple as registering an account by clicking on the Free Demo Account with 10,000 in Virtual Funds tab. You will have to input your email address, create a password, declare that you are of the legal age for trading and agree to the terms and conditions by checking a box, and then click on the yellow Register button. You can then use your free demo account to learn all about trading without risking your own hard-earned money.

How to Open a Real Money Account

If you want to trade for real, you have to click on the menu symbol on the top left of the Olymp Trade website and then click on the Registration link.

An online registration form will appear on your screen, prompting you to input your name, email address, phone number, and create a password. You have to then select Dollar or Euro as your currency and check the box against the declaration that you are of the legal trading age and that you agree to the online trading platform’s terms and conditions. Finally, you have to click on the green Register button.

Once you have registered, you have to deposit a minimum of $/€1 to a maximum of $/€10. You are now ready to start trading. You will be pleasantly surprised to learn that you do not need to understand the complexities of trading or have in-depth market knowledge to start trading online. However, you do need some basic working knowledge of the market and you have to read the economic news regularly.

Trading FTTs at Olymp Trade is as simple as choosing an asset, making an investment, setting a time frame for your prediction to be proved correct, predicting whether the price of your selected asset will rise or fall within that time frame, and then waiting for the trade expiry to find out whether your prediction will turn out to be correct and make you a profit.

The only downside is that you cannot delete your account if you find out that trading is not your cup of tea. You can only block it by calling +912271279506 (India, New Delhi) or sending an email to [email protected]

Become a VIP Trader at Olymp Trade

You can become a VIP trader at Olymp Trader, but you can get complete details about this only from a customer care representative. The information presented on the website is rather scanty, but one understands that VIP traders can enjoy benefits such as profits of up to 92%, personal VIP consultants, risk-free trades, exclusive strategies, and private VIP webinars.

Olymp Trade Apps – How to Trade on the Move

Olymp trade offers downloadable apps for iOS, android, MacOS, and windows. You can find the links in the main menu at the bottom of the Olymp Trade website. To download the app for your device, you just have to click on the relevant link.

The Olymptrade mobile trading platform features easy and fast registration, interactive charts, a wide range of technical indicators, and a demo account with 10,000 demo credits. Similar to the desktop and browser-based trading platform, it offers top assets, a secure online trading environment, and excellent customer support.

List of Assets at Olymp Trade

Olymp Trade offers trading on the following assets:

    Currency pairs USD/JPY, EUR/USD, USD/CHF, GBP/USD, AUD/USD, USD/RUB, USD/CAD, EUR/RUB, EUR/CHF, EUR/JPY, and many others Stocks on international companies such as Google, Facebook, Boeing, Apple, Coca-Cola, Tesla, IBM, Microsoft, Starbucks, BMW, Nintendo, and Visa Commodities such as gold, silver, Brent, natural gas (NG), copper, and platinum Indices such as FDAX (DAX), ES (S&P500), NQ (NASDAQ 100), YM (Dow Jones), CAC 40, EURO STOXX 50, Hang Seng Index, RUSSELL 2000, Nikkei 225, and FTSE 100 Crypto assets such as Bitcoin, ETH/USD, Ethereum, Bitcoin Cash (BCH), LTC/BTC, Ripple (XRP), Bitcoin Gold (BTG), Monero (XMR), Zcash (ZEC), Dash (DASH), Ethereum Classic (ETC), and Litecoin (LTC)

Features of Olymp Trade

Olymptrade offers the following exciting features:

Free Trading Education

Olymp Trade is a great place to get educated. The service offers a total of 252 educational resources, including trend indicators, webinars, and strategies.

Trading Tools

The company offers a set of effective trading tools to help you make successful trades. It is home to a real time economic calendar from Investing.com. Also, it offers trading signals, which are bits of information derived from technical analysis tools. They help traders make correct predictions and execute successful trades.

How to Deposit Money in Olymp Trade from India?

Olymp Trade displays its list of banking options only to registered traders. You can use a variety of methods including web wallets, credit cards, debit cards, and prepaid cards to load your account with funds for trading from India:

  • Neteller
  • Skrill
  • Visa & MasterCard credit card
  • WebMoney
  • Bitcoin
  • Qiwi
  • Yandex

To withdraw your profits, you have to visit the withdrawal page from your dashboard, input the amount you wish to withdraw, and then click on submit request. The online trading platform says its processes payout requests fast, but usually, it takes up to five banking days. You can withdraw as little as $/€10.

How to Get Help and Information at Olymp Trade

Traders who need help and information at Olymp Trade have the options of clicking on a question mark symbol at the top right of the homepage or on the Support link at the bottom of the homepage.

Clicking on the Support link takes you to a page that offers company information, contact details, frequently asked questions, list of assets, how to start tutorial, and a glossary. Clicking on the question mark symbol opens a side window with options such as Ask a Specialist, video tutorials, and Assistant.

If you need to contact a customer support agent at Olymp Trade, you can use the following methods:

    Toll Free Number – Indian clients can use the toll-free number 0008000402044 on their mobile phones. Email – Traders can email their questions and issues to [email protected] to get a response within one working day. Live Chat – Click on the green Open Chat button on the support page to instantly connect with a customer support agent. Online Contact Form – Use an online contact form on the support page.

Our Take on Olymp Trade

Our research shows that Olymp Trade is a reliable platform. We couldn’t find any trader complaints on popular forums, indicating that the trading platform has mostly satisfied customers. According to figures on the homepage, the platform paid $9,449,968 to its customers in the last month* and closed 36,476,772 trades during the last month*

*February / March 2020.

At the same time, trading of any kind is risky, and we suggest that you understand the basics before plunging into it. Fortunately, you can get started with a basic demo account at Olymp Trade. The trading platform also provides free training, so you can also take it as an opportunity to get trained.

Conclusion

To sum up, Olymp Trade is worth signing up at if you live in India for the following reasons:

    Continuously improves its platform (localized into Hindi) according to the requirements and demands of its traders from India Offers free training through courses, video tutorials, and webinars Trade on Android, iOS, tablets, smartphones, and computers Olymp Trade apps for iOS and Android have been downloaded over 10,000,000 times. Get returns of up to 92 percent (for Advanced accounts) Learn from professional traders and get high quality trading signals Award winning trading platform

So if you are an Indian trader who wants to start trading online, you don’t have to hesitate to sign up at Olymp Trade.

Olymp Trade Review 2020

Olymp Trade is an unregulated broker with limited trading instruments. They offer educational resources, signals and analysis but do not have the popular MT4 trading platform.

Olymp Trade Review 2020, Pros & Cons
  • Only $10 deposit is required for live trading
  • Training resources & recorded webinar videos
  • Proprietary trading platform
  • Market news & analysis
  • Multilingual customer desk available 24/7
  • Not regulated
  • Platform does not support trade automation using trading softwares or robots
  • No Social trading
  • Limited trading instruments
  • No MetaTrader platform
  • Do not accept US or UK traders

In this detailed Olymp Trade review, our online broker research team have covered some of the most important aspects for you to consider when choosing the best broker for your online trading needs.

Olymp Trade is not ranked in our best forex brokers, best stock brokers, best cfd brokers, best crypto brokers or best online brokers categories. You can use our free broker comparison tool to compare online brokers including Olymp Trade.

Olymp Trade Review: Summary

Olymp Trade was founded in 2020 and is owned and managed by Inlustris Ltd which is registered in Saint Vincent and the Grenadines.

The broker offers forex, CFDs and digital options trading over the internet. Olymp Trade believes in trader education and so organises training webinars almost every week at no cost to all interested clients.

Olymp Trade states that about 25,000 users trade on its platforms everyday and over 240,000 clients trade on their live accounts every month. The broker also boasts that its trading volume has risen to over $170 million in turnover every month. This comes from over $37 million trades that are closed monthly. These figures are up to date as of 2020 but may have since changed.

The broker also has won more than 8 trading broker awards to its credit. At the 2020 forex awards, Olymp Trade won the ‘Best Trading Platform’ award. Other important awards are; ‘Best Options Broker’ which was won at the 2020 Forex Expo awards and ‘Innovative Broker’ which was won at the 2020 IAFT awards. Olymp Trade is also into sports sponsorship and has sponsored the LCR Honda team at MotoGP 2020.

Olymp Trade Review: Awards

Olymp Trade Review: Regulation

Olymp Trade states that it is a member of the Financial Commission (Finacom PLC). The International Financial Commission is a conflict resolution commission which settles disputes between member brokers and their clients. A client can claim a compensation of up to €20,000 for each case won. Finacom does not stipulate guidelines for broker operations and cannot be compared to standard regulatory agencies like the FCA, CySEC or ASIC.

Olymp Trade Review: Finacom Membership Certificate

Olymp Trade’s platform and website is protected by a 256-bit Secured Socket Layer (SSL). This is the industry standard security practice that engenders a digitally safe transaction environment for all clients. SSL encrypts all data to and from the servers. This is done in order to prevent cyber crimes such as identity and credit card theft, phishing and hacking.

In order to complete the registration process, clients are required to undergo identity verification. This entails the uploading of a copy of ID card, utility bill and payment means confirmation. It can take up to 5 business days before the verification process is complete.

Unfortunately, Olymp Trade are not regulated by any regulatory authority which will be very concerning for most potential clients as they do not have the same protection as they would from a regulated online brokerage.

Olymp Trade Review: Countries

Olymp Trade accepts clients from most countries excluding those where distribution or use would be contrary to local law or regulation. They cannot accept UK or US traders. Some Olymp Trade broker features and products mentioned within this Olymp Trade review may not be available to traders from specific countries due to legal restrictions.

Olymp Trade Review: Trading Platforms

Olymp Trade provides only its proprietary platform to all clients for trading activities. The platform is web based and so, requires no downloads and installations. The platform is optimised for mobile viewing and resizes to fit on most screens. It is available in 19 languages and has a range of tools for order placement and analysis. The following are some features of the Olymp Trade platform:

  • It has 4 chart styles; Area, Japanese candlesticks, Helken Ashi and Bar charts.
  • The charts can be displayed on 11 timeframes from 15 seconds to 1 month.
  • From the platform, deposits and withdrawals can be made into the trading account.
  • Supports one-click trading.
  • Switch between forex trading and binary options trading on the same platform.
  • Over 30 technical indicators including the most popular ones like MACD, RSI, moving averages, etc.

Olymp Trade Review: Trading Platform

Olymp Trade Mobile

This mobile app is developed by Olymp Trade for trading binary options. It is available for Android and iOS devices. The app is clean and user friendly. Here are the features of the mobile app:

  • Customisable assets list.
  • Switch between demo and real account.
  • Fund and withdraw from trading account.
  • One-click trading.
  • Access to customer support from the app.
  • Educational resources available from the app.
  • 2 Chart styles that can be displayed over 6 timelines form 15 seconds to 1 hour.
  • Technical indicators and drawing tools are available.

Olymp Trade Review: Trading Tools

Trading Signals

Olymp Trade gives trading signals on their website. The signals are given on selected instruments. Signals are based on technical indicators and analysts’ tools. They are available on currency pairs, commodities, indices and stocks.

Daily Review

This section of the Olymp Trade’s website features news, trends and analysis. It looks at selected instruments and gives their daily analysis. The analyses are based on charts, indicators, price action, news and economic releases.

Olymp Trade Review: Daily Review

Weekly Review

The weekly review looks at the events that are expected within the week as well as their potential impacts on the market. It also follows up on the happenings of the past week.

Olymp Trade Blog

This blog is updated frequently by Olymp Trade experts and analysts. It has different sections which include; education, analytics, FAQ, lifestyle and platform news. The blog features some interesting and informative articles.

Olymp Trade Review: Blog

Olymp Trade Review: Education

The brokers website and platform contain various training videos and articles aimed at teaching forex trading to a beginner. The training is grouped into video tutorials, strategies, technical indicators and webinars.

The education section of the Olymp Trade blog has articles on fundamental and technical analysis, trading psychology and money management.

There are over 250 videos of recorded past webinars that can be watched on the website. New webinars are scheduled at least every week. The webinars teach various topics ranging from indicators, options trading, etc.

Olymp Trade Review: Trading Instruments

Olymp Trade offers 32 forex pairs, 15 indices, 13 US stocks, 6 commodities and 9 cryptocurrency assets. This asset list is rather limited especially when compared to competitors. Some online brokers offer thousands of trading instruments for trading on their platforms.

Olymp Trade Review: Accounts & Fees

Olymp Trade does charges commission on all trades. The maximum leverage is 1:500. There are only two types of accounts. They are as follows:

  • Regular account: This account is designed for new traders. The minimum deposit for opening this account is $10.
  • VIP Account: The minimum opening deposit is $2,000. VIP account holders get private webinars, analysts’ consultation and invitations to exclusive events.

Demo accounts preloaded with $10 000 in virtual funds are available to test the different trading platforms and conditions before opening a real account.

Accounts can be opened in EUR, RUB, BRL & USD. The different currency options are beneficial as currency conversion fees do not apply when using an account in your own currency.

As broker fees can vary and change, there may be additional fees that are not listed in this Olymp Trade review. It is imperative to ensure that you check and understand all of the latest information on the official Olymp Trade website before opening a brokerage account.

Olymp Trade Review: Customer Service

The client support department is always available 24/7. The support desk speaks different languages. They can be reached on phone, email and instant web chat. They also have a ‘Contact Us’ form which can be used to ask quick questions to the support team. A knowledge base comprising of FAQs is provided on the website. The FAQs are grouped under trading platform, financial questions and verification questions. A trading glossary of over 50 items is provided. The Olymp Trade social media platforms are facebook, Twitter, YouTube and Instagram.

Olymp Trade Review: Deposit & Withdrawal

Olymp Trade does not charge deposit and withdrawal fees. The minimum withdrawal is $10. Withdrawals are processed within 24 hours.

  • Credit/Debit Card: The cards accepted are Mastercard, Visa Card and Maestro. The minimum deposit is $10. Card payments are instantly processed.
  • Online Payments: The internet payment gateways accepted are AstroPay, Neteller, Skrill, Fasapay and WebMoney. The minimum deposit is $10 and the payments are processed immediately.
  • Bitcoin: The minimum deposit is $25 and it is paid into Olymp Trade’s Bitcoin wallet. It is exclusively for clients who already own Bitcoins. The payment is processed within 24 hours.

Olymp Trade Review: Payment Options

Olymp Trade Review: Account Opening

Fill the form on the homepage of the website to open a new account. You can also click ‘Registration’ from the menu in order to register. If your country is not eligible then you will not be able to proceed.

Fill the form and click on ‘Register’. Alternatively, you can also sign in with Google or Facebook if you already have accounts with any of the websites. The new Olymp Trade account will receive information from the Google or Facebook account. Once you complete the registration, you are automatically logged into the trading platform’s demo account. A live account is also created. You can make a deposit and commence trading.

Olymp Trade Review: Conclusion

Olymp Trade is an unregulated offshore broker that offers options, forex and CFD trading on its platform. The web based platform is intuitive and has inbuilt tools for charting and analysis. Live trading can commence with only $10. The quantity of training resources provided and the frequency of webinars is commendable.

Despite being a member of the reputable Finacom, Olymp Trade remains an unregulated broker. Finacom membership cannot equate the stringent regulatory stipulations as being enforced by standard regulatory bodies like the NFA, CySEC, FCA or ASIC.

The asset listing is small when compared to other brokers that offer thousands of trading instruments. Also, traders cannot automate their strategies using the provided platform and they do not offer the popular MT4 trading platform.

Transactions with financial instruments offered on the Website involve substantial risk; trading may be very risky. If you make transactions with the financial instruments offered on this website, you might incur substantial losses or even lose everything in your account. Before you decide to start transactions with the financial instruments offered on the website, you must review the service agreement and risk disclosure information.

Min $10 Deposit

Olymp Trade is an unregulated broker with limited trading instruments. They offer educational resources, signals & analysis but do not have the popular MT4 trading platform.

Olymp Trade Review

Introduction

Olymp Trade is an established broker in the fixed time trades marketplace having launched back in 2020. They are certified by FinaCom making them a trusted choice for any online trader. Their background is very much as an international broker with a seamless platform and packed education centre available in 12 languages.

With more than 25,000 people trading every day and around $171 million of monthly turnover Olymp Trade are a massive company in this space. Adding to the brokers’ prestige is an award cabinet to be proud of, including “Best Trading Platform” Le Fonti 2020. They are a grade A broker with a proven track record.

A solid offering of over 70 asset types including currency pairs, commodities, stocks, indices and crypto gives you plenty of opportunities. Another difference between Olymp Trade is their comfortable level of entry. Traders can start with a small $10 deposit with minimum trades as low as $1 which is excellent news if you’re new to the world of online trading.

In this review, you will learn:

    Why they’re different from others in the market Our expertinvestor.net exclusive reader bonus The Olymp Trade platform features and benefits

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Account Types

Because Olymp Trade focuses on being user-friendly, they keep things simple, clean and easy to use. Whereas you might see a complicated list of accounts ranging from basic to gold, diamond or platinum offered by others, there are three well-managed choices. You can choose between demo, standard and VIP accounts. All of them are easy to sign up to and offer an excellent trading experience.

Demo Account

The Olymp Trade Demo Account is excellent for those wanting to get used to the platform, all you need to do is register, and you can start using $10,000 of virtual money straight away. Demo accounts are a tried and tested way for first-time traders to get used to trading or for those switching platforms and looking to familiarise themselves with the software.

Standard Account

You only need a $10 deposit to open a real account offering you access to all the available financial instruments, assets, educational materials and analytical tools. You’ll also have the opportunity to take advantage of returns of up to 82% which is a competitive offering. Maximum trade amounts are very respectable too at $2000 enabling you to trade freely. We love the standard accounts comprehensive benefits and excellent rate of return.

VIP Account

Aimed at the more experienced trader, the VIP Account offers many exclusive benefits. Maximum trade amounts rise to a massive $5000 as well as the rate of return being boosted up to an unbeaten 92%. The account also has an extensive list of features including everything from the availability of risk-free trades to a personal consultant and private webinars.

The VIP Account is a competitive and well-structured account which is an excellent choice for the seasoned trader.

Trade Types And Payouts

With payouts ranging from 82% to 92% with the VIP account, they are very well placed within the market when it comes to profitability. The low entry and simplified systems also make it a very clean and seamless trading option.

Some brokers offer lots of different trade types, and these include Call/Put or High/Low trades then there are Ladders and Pairs, Range, One Touch and Long Term. With Olymp Trade as there are just two types of trades, the classic, tried and tested High/Low and 60 second trades.

High/Low Trades

With a manageable 70 assets to trade with and a minimum of $10 deposit, it is the perfect chance for beginners to cut their online trading teeth. Just choose your asset, currency pairs, gold or silver, and start trading. Correctly predict whether the asset will rise or fall by the expiry time and you could be seeing lucrative returns.

60 Second Trades

60 second trades are as the name suggests, 60 seconds or one minute expiry times, so you don’t have long to spot and seize the moment. Making these trades means things happen very quickly including making a profit if you have the right trading strategies.

We’ve negotiated a new trader bonus which means they will double your deposit!

Bonuses And Promotions

Great news! Olymp Trade does generally not offer a standard bonus, but we have secured an exclusive introductory bonus that you must use to your advantage. We have managed to negotiate a new sign-up deal which means they will double your deposit! All you need to do is make a deposit in your live account within an hour after registration and get +100% of your deposit, free.

We know that because of their very affordable deposit level, excellent trading platform, free education centre and competitive rate of returns that they probably don’t need to offer bonuses to get people trading successfully with them, but we wanted to secure one for our readers anyway.

Mobile Trading

With trading on the move being more critical than ever before, a mobile app, responsive website and accessibility have to be at the forefront of brokers features. It is no longer enough to have a good desktop site and trade off reputation. So many criteria have to be met and being able to keep up with technological developments is one of them.

Launching in 2020, Olymp Trade understood the importance of mobile technology and have been able to build a modern, seamless platform. From the moment you login, you realise their mobile platform is exceptionally responsive. There is a bespoke Olymp Trade app for both Android and iOS available from Google Play and the Apple App Store for those who prefer apps to browser trading.

Deposits And Withdrawals

Like most brokers, the primary payment method of depositing real money funds include the use of a credit card and debit card. Bank wire transfer and other e-payment solutions such as Skrill and Neteller are also available. Customers can also pay using the latest Cryptocurrencies such as Bitcoin.

Depositing funds overall is simple although deposits using wire transfer will take longer than other methods. Crypto deposits are much more straight forward and as we found, slightly faster. All deposits are free, and with a deposit amount of only $10 required to open an account, it is a service that is accessible to all.

To withdraw funds request your withdrawal and funds will arrive back in your account or on your card within one day. Payments go to the same source that you used to fund the account in the first instance. Please make sure your trading account is fully verified to avoid any withdrawal problems. This broker told us the most significant cause of refusal is due to a lack of personal identification.

Special Features

A distinctive feature of Olymp Trade comes in the form of its packed education centre. With 56 webinars together with 20 strategy and trend lessons as standard, there is a wealth of information and technical analysis on offer. If you have a VIP Account, you can look forward to other perks with the addition of one-on-one training lessons and private webinars.

The Demo Account is available to anyone that registers on the site, and the $10,000 virtual money is there for traders to use to practise successful trading and get used to the dos and don’ts. The addition of our exclusive bonus if you join these guys makes their offering even more attractive.

In addition to fixed time trades, Olymp Trade has recently added Forex trading to its platform lineup. Forex traders can now benefit from their MT4 (MetaTrader4) platform and a huge range of currency pairs on offer.

Customer Support

Most online brokers offer varying levels of support from a virtual live assistant to a full menu of options to choose from including, emails, telephone numbers, support forums and more. Olymp Trade is no different; they have a strong support system in place and support is available by phone, via email or by live chat.

They offer helpful customer support 24/7 in 8 languages, so it’s highly likely you’ll be able to speak with someone who fully understands you no matter where you are. Throughout our Olymp Trade review process, we had no problems or difficulties contacting the various support departments.

Here are the contact details for Olymp Trade:

    Email – [email protected] Phone – +27 211 003 880 Address – Smartex International Ltd, Suite 305, Griffith Corporate Centre P.O. box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines

Conclusion

Olymp Trade is a massive player in the fixed time trading marketplace, and their seamless platform and competitive rates of return are excellent. Their minimum $10 deposit and $1 trades means that the service is accessible to anyone who wants to trade and their education service supports their commitment to new traders as one of the best brokers.

For the more experienced traders among you, there is the VIP Account, which boosts the rate of return further and the maximum trade amount as well as offering lots of special features. Olymp Trade pays out over $9 million per month to traders in several countries around the world. They are a category A broker of the International Financial Commission which gets awarded to those that are proven to be honest and reliable.

Essentially, they tick all of the boxes of a trustworthy broker including offering trader protection, backed by the IFC of up to $20,000. Following our thorough Olymp Trade review, we found no warnings to imply this broker is a scam and we only found a small number of online complaints. Compared to other broker reviews, Olymp Trade is highly recommended.

Risk Warning: The products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. You should never risk money that you cannot afford to lose.

Ad Disclosure: Some of the links that you will find on this website are advertisements for which we do receive financial gain from referring new customers.

Frequently Asked Questions

Is Olymp Trade legit, will they scam me?

Any online trading broker that we recommend is always checked and vetted by our experienced team and Olymp Trade was found to be entirely legitimate.

Do they have a decent mobile or tablet app?

Any good broker needs to ensure that they have a decent mobile platform. Here is no exception, both their website and mobile app are easy to use on all handheld devices.

What bonus do they offer for new traders?

We have negotiated an exclusive bonus with Olymp Trade, deposit in your live account within an hour after registration, and they will double the amount.

Can I start trading on a free demo account?

Yes, Olymp Trade offers a demo account to all registered account holders with the ability to trade up to $10,000 of virtual money.

What’s the minimum deposit and trade amount?

Olymp Trade is one of the few brokers that offer a minimum deposit of $10. Minimum trades of $1 are accepted making this broker stand out.

Robert has consulted for our website for five years and is a well-established member of the team. While he is passionate about the site, most of Robert’s time is focused on his current position as CEO of a professional coaching company.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    The Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
    Sign-up Bonus!

  • Binomo
    Binomo

    Trustful Broker!

Like this post? Please share to your friends:
Binary Options Wiki
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: