Olymp Trade Review

Initial Deposit: $10

Visit Site

Overview

Logo

Rating

Overall

Offering of Investments

Commissions & Fees

Platform & Tools

Research

Mobile Trading

Education

Exness Review 2024

Initial Deposit: Depends on account type
Deriv Review 2024

Initial Deposit: $5
Elitetraderfunding Review 2023 : Is it safe to trade?

Initial Deposit: $250
Coinex Review: Exploring Trading Options, Security, and Fees

Initial Deposit: $0
Phemex: A Secure and Advanced Cryptocurrency Derivatives Trading Platform

Initial Deposit: $0
Bybit Review: A Great Option for Crypto Trading
Bingx: The Ultimate Cryptocurrency Derivatives Trading Platform
Fidelcrest Review

99%

Trust score

Tradeable Symbols (Total): 80+

Year Founded: 2014

Publicly Traded (Listed): No

Bank: Yes

Visit Site

Pros 👍🏻

The web and mobile trading platforms provide an easy to use interface.
Attractive spreads and offers leverage of up to 400:1.
Olymp Trade mobile app is easy to access on Android and iOS devices.
Low minimum deposit compared with other traditional platforms.
Offers a wide range of assets for trading.
Olymp offers 24×7 customer service.
Supports a wide range of payment methods.
The broker has an array of training methods.

Cons 👎🏻

The broker does not accept EU or US clients.
Deals and bonuses are limited.
Non-verified accounts have problems with withdrawals.
Does not provide clear terms on Bonus.

Description

About Olymp Trade

Olymp Trade has been sharing financial freedom with traders since 2014. In a continuous effort to give traders a more comfortable and safe experience, its experts have been improving the platform ensuring traders can enjoy and make use of that freedom to trade whenever and wherever they like.

Olymp Trade Company Overview

Olymp Trade has been operational since 2014, and the firm has a reputation for continuing to improve their trading platform with each successive year.

The brand has picked up several awards, including:

Best Financial Broker at the CPA Life Awards 2017,
Best Options Broker at the Forex Expo 2017,
Best Options Trading Platform at Le Fonti 2016
Fastest Growing Broker at ShowFx World 2016.

As one of the more popular brokers on the market, Olymp Trade offers an easy user interface, great customer service and plenty of options to learn how the markets work.

It’s a platform which is suitable for new users and experienced traders alike, and its high level of daily users is testament to the sort of service provided by the brand.

Olymp Trade Spreads and Commissions

Olymp Trade does not charge a spread list. Traders who register a real account with Olymp Trade are exempted from paying a spread. However, Olymp Trade charges commissions of up to 13.5% on the Advanced Account and 20% on the Expert Account.

The Olymp Trade brokerage company sets a high commission for all trade participants. The commission may vary depending on the transaction amount and the leverage provided for a specific asset. There is no non-trading commission for depositing and withdrawing funds from the broker.

Additional Trading Fees

When trading financial instruments such as forex, traders can often expect that overnight fees or swap fees will be charged when positions are held for longer than a trading day.

Olymp Trade does not credit/charge swaps on any of the accounts offered. In addition, there is no option for an Islamic Account as all accounts are already compliant with Sharia law.

This means that all trading is halal, and all traders have access to swap-free trading without any additional requests or the conversion of accounts.

Olymp Trade does not offer spread betting and thus spread betting fees do not apply.

Types of accounts

Account Type	Description
Demo-account	A demo account can be used by both novice and professional traders. This is the best way for a novice trader to train and get experience in trading. Using a demo account, a professional market participant can test new trading styles and strategies and to identify the most effective and profitable ones. There is no need to invest a cent to start working on such an account. Moreover, immediately after registration you will get $10,000 on a demo account and can use them for educational purposes.
Real account	This account provides the same options as the demo account. The only difference is that it allows you to earn and lose money. One of the following shall be assigned after registration: Starter, Advanced, or Expert. Each has its own advantages. After a real account registration, you can change your account status by depositing the minimum amount for the status selected.
Starter	The status is intended for novice traders. Make a minimum deposit of $10 to get started. If required, this amount can be increased but you need at least $10 to start trading. The maximum profitability is 82%, the maximum number of open transactions is 10, and the maximum transaction amount is $2,000. You’ll have access to basic training materials.
Advanced	This status is perfect for traders who have experience in trading. Replenish a deposit of at least $500 to activate the status. The transaction’s profitability could be up to 84%, and you will be provided with 2 assets with higher profit margins. On such an account, you can open not more than 20 transactions and the maximum transaction amount is $3,000. Except for basic training materials, you’ll have access to 7 unique trading strategies, 1 personal analyst consultation per month and access to 1 private webinar per week, and access to tailored material.
Expert	This status is intended for professional traders. To open it, replenish a deposit for $2,000 or more. The order margin is up to 92%; the client is also provided with 6 assets with higher profit margins. You can open up to 30 orders with the Expert status. The maximum transaction amount is $4,000; Additionally, you will get access to all closed training materials, trading signals, and also have 1 consultation from a personal analyst, access to 3 closed webinars per week, 15 unique trading strategies, and exclusive trading ideas.
Account for МТ4	This account is intended for users who prefer standard Forex trading over binary options. The registration process is in no way different from opening a real account, but you will use MetaTrader4 as the trading platform.

Leverage

Trading leverage is a popular financial tool that allows you to increase the opportunities and profits of a trader. The Olymp Trade platform has its specifics, in which the multiplier = leverage. The multiplier allows traders to access much more significant trading amounts than they could with their own funds.

Olymp Trade that offers leverage up to 1:400. But it also varies as per the type of instrument you choose for trading. For instance- across popular forex pairs, you can find 1:30 set leverage, and at minors pairs- leverage is around 1:200.

Olymp Trade Deposit and Withdrawal

Payment Methods

There is a unique list of payment and withdrawal methods available for every country. They can be grouped into:

Bank cards.
Digital wallets (Neteller, Skrill, etc.).
Payment invoice generation in banks or special kiosks.
Local banks (bank transfers).
Cryptocurrencies.

For example, you can deposit and withdraw your funds from Olymp Trade in India using Visa/Mastercard bank cards or by creating a virtual card in the AstroPay system, as well as using e-wallets like Neteller, Skrill, WebMoney, FasaPay, GlobePay. Bitcoin transactions are also good to go.

You can find the recommended methods in the Recommended section. In India, we recommend Olymp Trade customers use Visa and Mastercard bank cards, and also Skrill and Neteller e-wallets.

Pay your special attention to Skrill and Neteller as in these digital payment systems the process of funds withdrawal is carried out as quickly as possible.

Funds Withdrawal

If your broker ever charged you $50 for funds withdrawal, that was definitely not Olymp Trade. On the contrary, we use own funds to cover the commission amount.

However, note that some payment systems do charge their customers for depositing or withdrawing money. We recommend checking with your financial services provider in advance.

Is Olymp Trade safe?

Olymp Trade is safe. As an international broker concerned with protecting our clients at every turn safety is a priority.

From membership in FinaCom through KYC protocols, Olymp Trade exceeds the international broker’s standard. We go above and beyond to keep our clients safe. Protecting our clients through from scammers and overly volatile markets through dedicated teams monitoring the latest activity that could harm traders.

Trading Flatform

Trading Platforms, Software

The forex trading software, also called the platform, provided by a broker company to its clients to carry out their trades can be a multi-asset one that allows clients to trade forex as well as other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

Some companies provide their own proprietary platform, which may benefit traders due to specific characteristics developed by specialists employed by the broker, while others prefer to provide the better-known platforms that were tried and tested through time.

If there is a choice, the trader should keep in mind what he would like to trade and find the platform that suits his needs best.

OLYMP TRADE offers its own Olymp Trade platform with features that make it easy to use.

The Olymp Trade platform can be accessed via the web, a dedicated desktop application (available for Windows and Mac), and a smartphone or tablet app for Android and iOS.

Features include a concise chart with amounts and timings, and the ability to be customized via graph type and color.

The mobile apps are highly rated with a responsive design and the same capabilities as the web version.

Since recently OLYMP TRADE also provides the MetaTrader 4 platform.

Customer Support

This company offers customer service that operates 24×7; quality service is offered in 8 languages. The Olymp trade team can be reached through email, phone, and live chat. It also provides a FAQ section that can be seen on the website which is very helpful for users to expect the right answers to the queries. If they couldn’t find an answer to any of the queries, they can kindly contact the Olymp Trade customer support number anytime, which provides immediate guidance to their customers.

Olymp Trade Customer Support

Final Thought

Olymp Trade is interesting for beginners and advanced traders. In conclusion, it is a very reliable broker for fixed-time trades and forex trading. The company provides a very good service since 2014. I tested the platform in detail to provide you with good feedback. I have to mention the platform gives you the best execution for trades and you can customize it as you want.

FAQ’s

How can I withdraw money ?

You can withdraw money from your Olymp Trade account by clicking on the “Withdrawals” tab on the main section. You will then need to choose your preferred withdrawal method.

Can Olymp Trade make you rich?

Yes, by placing correct trades at the right time and making profits you can become rich. This works both at Olymp Trade and at other regulated brokers. However, it should be said that binary options trading is not a get-rich-quick scheme. It is also possible to lose money. Ultimately, the goal is to generate a surplus to increase your capital. If you acquire trading knowledge and consistently place the right trades, you can make a lot of money with Olymp Trade.

Is Olymp Trade legal in India?

Yes, you can trade with Olymp Trade when you are located in India. The platform also offers its trading services in many other countries.

Is Olymp Trade good for trading?

From our view, Olymp Trade is a good platform for trading. There are more than 100 assets available. Moreover, it offers very fast order execution and a user friendly interface. The customer support is available 24/7 and deposits and withdrawals work without any problems, making it a great platform. Overall, Olymp trade performs well compared to other brokers. Olymp Trade is not a scam.

Reviews (0)