Olymp Trade is a well-established broker in the fixed-time trading market that started back in 2014.
The company is registered in Cyprus, Saint Vincent, and the Grenadines.
Olymp Trade is a massive company in this space, with more than 25,000 people trading every day and approx. $171 million in monthly turnover.
Olymp Trade has won several awards, which include:-
- “Best Financial Broker” at the CPA Life Awards 2017
- “Best Broker” at the Forex Expo 2017
- “Best Trading Platform” at the Le Fonti 2016 (IAIR Awards)
- “The Fastest Growing Broker” at the ShowFx World 2016
- “Innovative Broker” at the IAFT Awards 2017
- “Best Broker” at the KROUFR Awards 2016
- “Best Trading Platform” at the Le Fonti 2018
- “Best Trading Platform 2018” at The Forex Awards
- “Best traders FB community in Thailand “at the Traders Fair 2018
Speaking of Olymp Trade India, Olymp Trade is not technically illegal but is in no way supervised or regulated by SEBI or RBI.
This means that if a trader faces any problems regarding the transactions or collections of the app, Indian authorities will not be able to assist.
Since Olymp Trade is not regulated by the Indian authorities, several Indian banks do not deal directly with the platform.
You will be able to learn the following essential aspects of the Olymp Trade Review:-
- Features and benefits of the Olymp Trade Platform
- Details of services provided by Olymp Trade
- Is trading with Olymp Trade safer?
Pros And Cons
Following are the pros and cons we have found in our Olymp Trade Review:
Pros:
Low Deposit requirement you can begin trading with just $10, one of the lowest deposits in the industry.
- Free Demo Account
You can start immediately with a free demo account that includes all the real version functionality and have no need to run the risk of real money.
- User-Friendly Interface
Olymp Trade has made it very easy to use its online platform. In fact, a beginner can understand how to use the platform in just a few hours.
- Operations Are regulated
Olymp Trade’s operations are regulated by the International Financial Commission.
- Best Trader Education
Get direct exposure to 171 educational resources from the Olymp Trade’s Education suite.
Besides, the Analytics section gives access to the news calendars and trading signals.
- Fast withdrawal Without Charges
Withdrawals of earnings are typically processed within 1-4 business days.
There are no additional fees charged by the company, so the only cost is the fee from your payment provider.
Cons:
- Asset Index Is Comparatively Small
Relatively speaking, the asset index of Olymp Trade is not as robust as that of some of its competitors.
There are relatively few assets made available.
- Restricted countries
Traders are not permitted to use Olymp Trade from Belgium, Bulgaria, Canada, Japan, the United States, Australia, Austria, Cyprus, Denmark, Poland, Finland, France, Germany, Ireland, Portugal, Norway, Italy, Israel, Latvia, Russian Federation, Lithuania, Netherlands, New Zealand, United Kingdom, Romania, Slovakia, El Salvador, Spain, Switzerland, Sweden.
Trading Platforms
Olymp Trade Trading Platform is simple to operate, and there is a clear emphasis on user experience.
Low entry and simplified systems make it a spotless and seamless trading option.
You can access the Olymp Trade platform through the web, the dedicated desktop application (available for Windows and Mac), and the smartphone/tablet app (available for Android / iOS).
The website is simple & clear and shows users exactly what they really want and not just to track their business, but also to trade successfully.
With payments varying from 82% to 92% in the VIP account, they are very well placed on profitability.
On the main page, there’s a clear, concise chart that features amounts and timings, which actually makes it easy to understand.
The graph type and color can also be used to customize the charts.
Users will find information about open/closed trades at the bottom of the web page and a help/chat feature.
This design makes it extremely easy for users to find out what they need in a simple way.
Assets/Markets
Olymp Trade gives users the chance to trade in the below markets. However, it is worth noting that the availability of instruments will differ depending on where the trader resides:
- Stocks
- ETFs
- Commodities
- Cryptocurrency
- Currencies
Some brokers offer many different types of trading, including Call / Put or High / Low trades, then Ladders and Pairs, Range, One Touch, and Long Term.
With Olymp Trade, there are only two kinds of trades, the classic, tried and tested High / Low, and 60-second trades.
- High/Low Trades
With a manageable 70 assets to trade and the lowest deposit of $10, it’s a beautiful chance for new players to cut their online trading teeth.
Just select your assets, currency pairs, gold or silver, and begin trading.
Predict correctly whether the asset will rise or fall by the time of expiry, and you could see lucrative returns.
- 60 Second Trades
As the name suggests, 60-second trades have expiry periods of 60 seconds or one minute, so you don’t have to spot and seize the moment long.
Making these trades means things happen very fast and make a profit if you have the right investment strategies.
Mobile Trading
Mobile trading is carried out in two ways on Olymp Trade.
- The first alternative is to trade on a mobile device using a web-based interface.
This allows users to use a mobile-optimized view on their phone or tablet device without downloading the Olymp Trade mobile application.
- The second alternative is downloading the Olymp Trade mobile app from the iPhone and iPad App Store, or the play store version of Android.
Account Types
Olymp Trade offers its users three types of accounts to make the most out of the platform
- Demo Account
Olymp Trade provides users with a free demo account to test their platform.
This enables the users to see whether the platform will work for them before they decide to invest real money.
There is no charge for Demo Account, so all you need to do is register online.
You get to trade with pre-loaded 10,000 virtual units, and there’s always the possibility to recharge the balance.
This demo account is useful because it helps new arrivals to gain a better understanding of how trading works.
- Standard Account
All you need is a $10 deposit to open a real account, offering you access to all the financial instruments, assets, educational materials, and analytical tools available.
You will also have the chance to take advantage of up to 82% returns, a competitive offer.
- VIP Account
Users must deposit a minimum of $2000 to qualify for a VIP account.
These account types offer some extra benefits compared to the available features from the standard account.
VIP account holders are allowed to conduct trades subject to a maximum of $5,000 and gain access to a VIP consultant.
These consultants are experienced financial analysts capable of providing advice on which transactions are to be executed.
VIP account holders also have access to extra training tools that are not accessible to standard account holders.
Account opening
You can open an account in Olymp trade in 2 ways,
- Set up an account that is connected to your Facebook or Google Email account.
- Use the Online Registration Form to create a new account using your email ID.
This registration puts you automatically in the demo trading mode. If you want to trade in real money, click the Deposit button on the left side of the navigation tab on the demo account interface.
Platform Regulations
In 2016, Olymp Trade gained a license from the Financial Commission.
The Financial Commission’s main objective is to supervise financial institutions and ensure that the customers’ deposits are safe.
Olymp Trade can also provide a Financial Commission membership certificate that indicates your deposit is safe.
In case any disputes arise between the company and its clients, the International Financial Commission acts as a neutral intermediary.
The Commission ensures a $20,000 compensation fund for any case where the dispute is resolved for the customer’s benefit.
Copytrading Option
If you are searching for automated binary options software, you may have found this new setup promising to be the best technology, OlympBot.
Formed specifically for working with the Olymp Trade brokers, this trading program will automatically open and execute transactions on your behalf, in your broker account.
A trading robot is a program or method based on mixed and matched forex trading signals that help determine the price chart direction of currency pairs and other commodities.
The robot’s profitability is over 70 percent. The robot is a unique trading tool on the Olymp Trade trading platform.
Trading robots remove the psychological trading component and concentrate on the formula that traders use to put different types of trades.
The robot can connect to the OlympBot Cloud Analytics market server. That allows it to trade more accurately on signals.
Instructions:
To achieve full functionality, activation is required, and it consists of 2 steps.
- You must register an OlympTrade account to enable the robot.
- Deposit a sum of $100 or more. The deposit sum is calculated by the robot’s strategy (in case of a failed transaction, a reserve is required to cover it).
Education Materials
Looking at their website, you will observe that they always emphasize the education of Traders.
More than 100 lessons cover the fundamentals of financial trading, as well as advanced topics like technical indicators and specific trading strategies.
Besides, each VIP status holder is given access to invite-only webinars and VIP analytics, and a personal assistant is assigned to consult them on any aspect of the trading platform.
Latest Offers
Bonus
Customers who have opened a standard or VIP are entitled to a first deposit bonus of up to 50%.
Note that the bonus amount can’t be withdrawn; however, you can still remove any profits you earn using that money.
Concerning the latest Olymp Trade offers, you can get a bonus of up to 20% to 30% by using the promo codes given on olymptradeclub.com.
There are various offers available in August 2020, and the validity is up to 31st March 2023, depending on the offer you select.
Also, in specific promo codes, there are conditions where minimum deposits are required to be done.
Transaction Charges
As far as fees are concerned, Olymp Trade charges a fixed rate for overnight transactions, which is restricted to 15 % of the total amount invested.
The brand does not charge a maintenance fee for the account or any custody fees; however, they may charge a subscription (based on your type of account) or an inactivity fee if your account has not been used within 180 days.
Usually, this is $10 a month. Also, your account will be closed if there are insufficient funds in the account.
Olymp Trade charges a fee, based on trade volume, multiplier, specification conditions, and current market situation and per trade in Forex Mode.
Deposits & Withdrawals
Speaking of the Olymp Trade Payment method, the primary payment method for depositing real money funds includes the use of a credit and debit card.
Olymp Trade users can choose between several different methods of deposit and withdrawal.
Withdrawals shall be made using the same manner as the initial deposit (up to the adjusted deposit amount).
Deposits
Deposits can be made through the following methods:
- Credit/debit card
- Bank transfer
- Neteller
- Skrill
- Cryptocurrency
Although banking transfers can take several hours, most payments are processed immediately.
There is no commission on deposit; however, your bank may charge you a fee for the transfer of funds.
You can even initiate trading with the lowest deposit is just $10.
Withdrawals
Withdrawals are made quickly and using the same deposit method. Most of the withdrawals are processed on the same day, though the operator suggests three working days are allowed (especially for bank transfers).
Customer Service
There’s a Live Chat function that lets you have real-time interaction with an Olymp Trade representative.
Olymp Trade Customer Support is available 24/7, using the following means:
- Phone: +84 2844 581 413
- Email: news@olymptrade.com
Conclusion
After going through the Olymp Trade review, we can tell you that Olymp Trade is a credible broker. The most noteworthy thing is their membership with the Financial Commission.
Customers can use eWallets to fund their accounts, meaning that they don’t have to put their personal banking information on the site.
The company has also gone far from its competitive environment by providing excellent quality trader education, an Analytics suite, and a system that ensures prompt payment of withdrawals.
Olymp Trade is a broker with whom you can trust your money. You can register for a trading account if you are interested.
In the beginning, you can always start a free demo account and see how it works for you.