Olymp Trade is amongst the most popular forex brokers. It has more than 25,000 clients trading on the platform daily. The broker began its operations in 2014, and since then, it has been improving the trading platform for the interests of its traders.
Over time it has been in operation, it has bagged many awards including CPA Life Awards 2017 and Le Fonti 2016. Besides, it also went home with ShowFx World 2016 for emerging as the fastest growing broker. The Forex industry is full of frauds.
Therefore, it is important to research thoroughly on any trading platform before you sign up. With our understanding of that, we have come up with a comprehensive review and frequently asked questions of the Olymp Trade online broker.
Olymp Trade Trading Platform
The trading platform Olymp Trade is userfriendly and easy to traverse. From its look alone, you can notice its neat organization: Olymp Trade login is fast and easy, the whole registration process takes less than 1 minute. The links are at strategic positions to ensure that you easily find what you need. There are three ways through which you can access the broker.
- Main website
- Access through a desktop application available for Mac and Windows.
- Access through a mobile application for both iOS and Android.
It is extremely convenient to access your trades using the phone app from wherever you are. It is a considerate aspect, especially because the site focuses on quick short term trades. The mobile application responds flawlessly and has similar capabilities as those in the web and desktop version. Therefore, phone traders won’t miss anything that Olymp Trade offers.
The site is straightforward and indicates what you require to trace your trades and success. On the main page, you will find a clear and uncomplicated trade chart. Besides, the timings and amounts are available next to the chart, making it easy to understand on the spot. The charts are customizable by selecting the colour and type of graph
Olymp Trade: Countries and Availability
Olymp Trade accepts traders from India, Nigeria, Pakistan, Singapore, Thailand, Ukraine, Indonesia, Kenya, Egypt, Malaysia, Vietnam Sri Lanka, Vietnam, Brazil and the Philippines. However, it does not accept traders from Europe, United States, UK, Israel, Japan, Canada and Australia. The trading platform is available in several languages for the convenience of its clients from different regions. The languages include
Beginner Friendly Trading Platform & Mobile App
Olymp Trade focuses a lot on educating its beginner traders, an aspect that makes it unique. They are obstinate about trading not only for experts but also as a straightforward income earner and hobby for any person.
Their free educational tutoring emphasizes on strategy-based training. They assist in familiarizing users with the fiscal world and how to think in the perspective of a trader. Clients can access the tutorials in the following ways.
- Interactive sessions
- Strategies from financial analysts
- Video tutorials
Besides, the broker also gives courses designed to fit experienced traders. More advanced training sessions concentrate on analyst webinars. They teach crucial topics such as capital management and strategies to trade the current market.
Other than the educational training, Olymp Trade is also accessible due to its low deposits. The minimum deposit is $10 while minimum trade amount is $1. Beginners have fewer worries that they lose huger sums of their investment. They can execute low-risk trades until when they are more comfortable with increasing their amounts.
Short Term Trades
Olymp Trade gives more attention to short term trades. You can hold the positions for between 15 seconds and three hours. The platform gives the trader a chance to select a particular expiration time. Therefore, users have more control over their moves. It is possible to terminate any losing trade move at any time. The exceptional features come in handy, especially for beginners.
Olymp Trade Free Demo Account with 10,000 Virtual Currency to Practice Trading Online
Olymp Trade also has free demo accounts in addition to the training courses. After registration, you get 10,000 virtual coins that you will use to practice trading. The demo is crucial as it helps you to familiarize with the trading platform before you commit your real cash. It is possible if the interface is suitable for you before taking a step forward.
Types of Accounts
When you are ready to begin trading with real cash, there are two types of accounts that you can choose.
- Olymp Trade Standard
You will need to deposit a minimum of $10 to open the account. Besides, you can trade between $1 and $2,000. There is no maximum amount for the withdrawal, but the minimum is $10. You are only eligible to make a single withdrawal in a day. Besides, it is important to note that withdrawals process will take about three days.
- Olymp Trade VIP Account
For eligibility for a VIP account, you have to deposit a minimum of $2,000. The account offers additional benefits that you won’t find in a standard account. The VIP account increases your highest trading amount to $5,000.
With this account, you are set to access a VIP consultant who is an expert in financial analysis. Therefore, you have extra tools to assist in your education and grasping of the trading concepts.
Olymp Trade Security and Regulation
The first concern when choosing a broker is to be assured of security. Olymp Trade is Category A member of the International Financial Commission (FinaCom). The organization is keen on securing investors; thus, you should have no worries when trading with the broker.
Olymp Trade Official Website: https://olymptrade.com
79 Assets to Trade
The number of assets available at Olymp Trade may be limiting for experienced traders. However, it is a convenient quantity for those who are in their early stages of trading. You can choose a whole group of assets or focus on a single one. At the moment, the broker has 79 instruments.
- Ten indices
- 36 currency pairs
- Six commodities
- Nine cryptocurrencies
- Five ETFs
- 13 stocks
Frequently Asked Questions
1. Can you make money from Olymp trade?
With a minimum investment at Olymp Trade, you can make up to 90 per cent profit. The lower limit for trade requirement is $. With that, you can earn 80 per cent profit on a standard account and a maximum of 90 per cent for the VIP type.
2. Is Olymp trade free?
With a VIP account, there is no risk for the traders. The requirement to open that account is to have a minimum deposit of $2000. It gives you one risk-free trade. When you deposit $5000, you can execute three risk-free trades.
3. Why can’t I deposit in Olymp trade?
Depositing funds on Olymp Trade using Visa may fail due to transaction limitations or inadequate balance. To fix, you need to either fund your account or contact your bank to increase the transaction limit when cashing in large amounts.
4. How do I unblock my Olymp trade account?
If your account gets blocked for violating rules on Olymp Trade, then you have limited chance of unblocking it. But you can still contact the support and ask for help.
5. Is Olymp trade is genuine?
Being a member of the International Financial Commission is enough to guarantee to tell that you that Olymp Trade is a legitimate broker. The organization protects the investors in case there is a dispute with the broker.
The only likely disappointment for experienced traders is few assets and trading options. However, Olymp Trade is a very suitable option for investors looking to trade with mobile options. Besides, the interface considers beginners with its in-depth educational courses. But generally, the low deposit requirement makes it appealing for anyone who wishes to start trading.