Olymp Trade Review
Read Olymp Trade Review and you will know how to trade on Olymp Trade easily. Olymp Trade is one of the most famous online trading brokers in the industry and currently has over 25,000+ clients trading every day on their platform. This trading broker has been around since 2014 and has continuously improved its trading platform for more than years.
Olymp Trade has won many awards such as Best Financial Broker (CPA Life Awards 2017), Best Options Online Trading Platform (Le Fonti 2016), The Best Options Broker (Forex Expo 2017), and The Fastest Growing Broker (ShowFx World 2016).
Olymp Trade Review – Why choose Olymp Trade?
This trading platform claims to be more than a project provided to users or traders. Their objective transcends, as they have advanced financial instruments to develop their financial and business skills as many people as possible.
- Year Founded: 2014
- Minimum Deposit: $10
- Minimum Trade: $1
- Payouts: 92% Max
- Demo Account: Yes
When you invest in Olymp Trade Brokers, you can choose from over 400 assets available for digital Trading
Is Olymp Trade the legit broker?
With so many scams in the trading industry, it’s essential to do your due diligence before signing up with any Online Trading Platform. In this Olymp Trade review, we’ll cover everything you need to know about this online broker.
Olymp Trade Platform
Olymp Trade is easy to navigate and very user-friendly. The trading platform looks clean and organized, with links that make it easy to find what you are looking for. You can access Olymp Trade in three different ways.
- Their website
- A desktop version application (available for both Windows and Mac)
- Phone version application (for both Android and iOS)
Accessing your trades from anywhere via a mobile app is highly convenient. This is especially considering the website specializes in fast, short-term trades. In addition, their mobile app is responsive and has the same capabilities as the desktop and web versions. So put, trading from their phones is not missing out.
The Olymp Trade website is straightforward, showing you precisely what you need to track your trades and be successful. They present a clear, easy-to-understand trade chart on the main trading page. Now, You can see the timing and amounts alongside the chart, making it immediately understandable. you can also customize the charts by selecting the type of graph and color. At the bottom of the page, there is information on open and closed trades, along with a support chat. The design makes it easy for traders to see what they need in a simple presentation.
Olymp Trade Review – Availability and Countries
Olymp Trade does accept users and traders from regions such as India, South Africa, Nigeria, Pakistan, and Thailand. Also, Kenya, Indonesia, Malaysia, Singapore, Ukraine, Vietnam, Brazil, Egypt, Thailand, Vietnam, Philippines, and Sri Lanka. In addition, most countries inside of Asia, Africa, and Latin America are accepted by this binary broker.
Unfortunately, Olymp Trade does not approve clients from the US, Europe, Canada, Australia, Japan, Russia, UK, or Israel.
To fit the needs of their large international trading market Olymp Trade is available in English, Spanish, Arabic, Thai, Vietnamese, Portuguese, Malay, Chinese, Indonesian, and Hindi languages
Olymp Trade Review – Beginner Friendly
One of the unique aspects of Olymp Trade is its focus on education for beginner traders. They are adamant about trading being for professionals and as an easily accessible income or hobby for anyone. Their free trading educational training focuses on teaching strategy-based trading. They help familiarize traders with the world of finance and how to think like a trader. Users have access to education in the form of:
- Strategies from experienced financial analysts
- Interactive courses
- Video tutorials and webinars
They even offer courses tailored towards experienced users or traders. More advanced class analysts focus on webinars. They teach the essentials for the current market, such as capital management and trading strategies
Another feature of online Olymp Trade that makes it accessible for beginners is its low deposits. The minimum trade amount is $1, and the minimum deposit is $1. As a result, new traders do not have to worry about losing a significant investment. Instead, they can make low-risk trades until they feel more comfortable.
Olymp Trade Review – Short Term Trades
Olymp Trade focuses on short-term trades. These positions can be held for as short as minimum 15 seconds to 3 hours. In addition, the trading platform allows traders to choose a specific expiration time. This gives traders more control over their trade. They can also cancel a losing trade at any time. These unique features make it easy for new traders to get their foot in the door.
Olymp Trade Review – Free Demo
In addition to training materials, Olymp Trade offers demo accounts. When you register, you get access to $ 10,000 virtual coins to play. That way, you don’t risk losing any of your real money when you cross the learning curve. The demo account is a valuable feature to experience the interface of experienced traders. You can see if this is right for you without investing in real money.
Olymp Trade Review – Types of Accounts
After the initial free demo account, there are two different options for accounts. You can try these when you are ready to start investing in real money.
To open a standard account, you need to deposit at least $ 10. Yes, this is a very low minimum. Investors can start their trade a minimum of $ 1 and a maximum of $ 2,000. The minimum withdrawal amount is $ 10, and there is no maximum. You can only withdraw one for the day. The withdrawal process takes about three days.
To be eligible for a VIP account, you must deposit at least $ 2,000. This account offers additional benefits that standard accounts do not offer. A VIP account increases the maximum amount of your trading up to $ 5,000. Another notable benefit is access to VIP consultants. VIP Advisors is a leading, experienced financial analyst. It also opens the door to additional tools to help you understand your education and trading.
Olymp Trade Review – Security and Rules – Regulation
Before choosing a broker, one of your main concerns should be their security. You should never invest your money in a site where you do not feel secure. In February 2016, Olymp Trade became an A recognized member of the International Financial Commission (FinaCom). Finacom is a company that protects investors. When using a platform protected by FinaCom, any illegal activity is covered up to $ 20,000.
It is also essential to look for well-established trading platforms. Olymp Trade has around 25,000 users trading every day and a $171 million monthly turnover. They have also won many accolades, including:
- Best Financial Broker – CPA Life Awards 2017
- Fastest Growing Broker – ShowFx World 2016
- Best Options Trading Platform – Le Fonti 2018
- Best Options Broker – Forex Expo 2017
Experienced traders may find the number of assets limiting. However, it is convenient and not overwhelming for those getting their feet wet in trading. It is up to you to focus on a single asset or choose an entire group of assets. They currently offer 79 financial instruments, including:
- 36 currency pairs
- 5 ETFs
- nine cryptocurrencies
- 13 stocks
- six commodities
- ten indices
Olymp Trade approves deposits via the following methods:
- Credit and debit cards
- Bank wire transfer
- E-payments such as Skrill and Neteller
- Cryptocurrency such as Bitcoin
Deposit free with no extra charge, minimum deposit $ 10. This makes the site easily accessible to everyone and a good starting point for beginners. Funds are deposited relatively quickly, but wire transfers take longer than other methods. Cryptocurrency is the fastest way to deposit.
The maximum withdrawal amount is always $ 10, depending on whether you have a VIP or standard account. After that, your funds will go back to the payment method you used to deposit money. Both Standard and VIP traders enjoy fast withdrawal processing time. Withdrawal takes 24 hours to 3 days for standard investors. For VIP investors it only takes a few hours.
Some negative Olymp trade reviews have claimed problems with withdrawing their funds. However, most of these issues can be resolved once your account is fully verified. It involves having all the personal information you need in the file. Here are the steps you need to take to verify your account and start paying.
- I am uploading photo identification from an ID or passport The image should be above your shoulders and fully visible.
- If you use a credit or debit card, the card you will use needs to be scanned. The name, the first six and the last four numbers must be visible. You only need to upload on the front of the card, not the back.
- If you use an electronic wallet (e.g. Skrill), you need a picture of your electronic digital wallet.
Trade Types And Payouts
Most companies offer 6 or 7 trading options such as one-touch, long-term, ladder, and call/put options. Olymp Trade only offers high/low trading. High / Low trading expiration time is limited to a maximum of 24 hours and is ideal for new traders. 82% of standard investors have successful trade payouts, while 92% of VIP investors have.
Customer support is available 24/7 via email address, live chat or phone. With a VIP account, your customer support experience is even more amazing. This is partly because FinaCom backs up the Olymp trade. If they do not resolve the issue after 14 days, you may file a dispute with FinaCom. Customer service is usually quick to resolve any issues before reaching this point.
Olymp Trade Review – Final Thoughts
Experienced investors can be frustrated with the lack of assets and trading options. However, Olymp Trade can still be a convenient option for online trading with mobile options. The interface is designed with new users or traders in mind, education development and an immersive demo. Limited options can make it less scary for newcomers to jump into trading. Also, the chaotic, simple design and low deposit requirements make it an attractive option for anyone who wants to trade..