Review Is Olymp Trade A Scam Forex Broker

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Olymp Trade India #1 Review

User Review


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.


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


• 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)

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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 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.


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. Review: Is Olymp Trade A Scam Forex Broker?

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General Information
Broker Name: Olymp Trade
Broker type: ECN
Country: Seychelles
Operating since year: 2020
Number of employees: 300
International offices: Seychelles
Regulation: The Financial Commission, The Financial Commission
Address: James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building, Saint Vincent and the Grenadines
Broker status: Broker
Accepting US clients? No
Account Options
Account currency: USD, EUR
Funding/Withdrawal methods: Credit Card, Debit Card, WebMoney, Neteller, Skrill, FasaPay, Bitcoin, Boleto
Swap free accounts: No
Segregated accounts: No
Interest on margin: No
Managed accounts: No
Accounts for money managers (MAM, PAMM): No
Customer Service
Phone: No
Fax: No
Email: [email protected]com
Languages: English, Spanish, Japanese, Russian, Indonesian, Malay, Thai, Arabic, Vietnamese, Korean, Malay
Availability: Chat, Email
Trading Platforms: MetaTrader 4, Web Platform, Mobile Platform, MT4 (via bridge)
Trading platform(s) timezone: (GMT -8:00) Pacific Time (US & Canada)
Demo Account: Yes
Mobile trading: Yes
Web based trading: Yes
OCO orders: No
Trading over the phone: No
Hedging allowed: Yes
Trailing stops: Yes
One click trading: Yes
Bonuses: Yes
Contests: No
Other trading instruments: Indices, Commodities, Energies, CFDs, Cryptocurrency, Precious Metals
Minimum deposit ($) 10.0
Maximal leverage (1:?) 400
Minimum lot size 0.01
Maximum lot size 20.0
Commission 1.1
We have 2 types of account: 1. ECN; 2. Standard: In the first type, traders pay a commission for trades ($4 per lot), but the spread starts from 0 pips. In the second type, traders do not pay a commission for trades, but they are paying the spread, which starts at 1.1 pips.
Spread Variable
Decimals 5 decimals
Scalping allowed Yes
General information about Olymp Trade

Olymp Trade (OT) is focused on providing access to markets regardless of the size of the investor. OT began in 2020 but now has over 200,000 clients on their platform monthly. OT has no hidden fees or commissions, and no fees on deposits and withdrawals.

OT offers a wide range of currency pairs, commodities, and exchange traded funds to their clients. OT is recognized by both its clients and its peers as a superior brokerage service and was the Best Trading Platform of 2020 according Forex Awards.

OT clients trade Forex on a state of the art platform with customizable tools for analysis. OT is dedicated to the education of its clients providing free tutorials, access to professional traders, and other media in multiple languages and 24 hours a day customer service in 13 languages.

The International Financial Commission rates Olymp Trade as a Category A Broker. Another example that OT truly believes in giving its clients what they need for successful trading.

Olymp Trade

Olymp Trade is a new dawn on the market of binary options. This broker have created a company that meets the highest requirements of clients. In Olymp Trade all the stages of trading are as simple as possible, and the entry threshold is lowered to a record sum — 10 dollars. This is an important step that allows even beginners to start opening trades immediately and get their first profit. The main target of Olymp Trade is to make a significant contribution to the binary options market around the world, so they have started putting these ideas into practice from the very first day.

Legal name: Olymp Trade

  • Founded in: 2020
  • Regulated: FinaCom PLC

Trading conditions

  • Trading platform: Olymp Trade
  • Insurance on the deposit: Yes
  • Trading tools: Stocks, Сurrency, Indices, Goods
  • Мinimum deposit: $10
  • MAX profit: up to 80% (common user), 90% (VIP-account)
  • Type option: Call-Put

Additional information

  • Demo platforms: Olymp Trade
  • Payments system: Visa, Mastercard, Fasapay, Neteller
  • Multilanguage sites: Russian, English, Thai
  • Clients Support languages: Russian, English, Thai
  • Clients Support: Phone number, email, online chat, WhatsApp

Video – Olymp Trade

Is the OlympTrade broker a scam?

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What is Olymp Trade?

If you are an Internet user you must have seen Olymp Trade app advertisement at least once.

Now, Talking about Olymp Trade it is a multi-asset trading Platform owned by Inlustris ltd.

It is a Digital Trading Platform, where we can BUY or SELL commodities, Currencies & more.

However, Olymptrade is popular for Binary Options Trading. It provides one of the simplest trading platforms.

In case you don’t know what actually is the Binary Option.

It is the Financial exotic option in which the later payoff is either fixed or nothing at all.

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    Free Trading Education!
    Sign-up Bonus!

  • Binomo

    Trustful Broker!

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