Olymp Trade Assessment
Olymp Trade is an international broker for online trading, with a high-tech platform, which has been in operation since 2014, owned and operated by two different companies.
The first is Smartex International Ltd., headquartered at 103 Sham Peng Tong Plaza, Victoria, Mahe, Seychelles, the second is Frandom Holding Ltd., headquartered at 60 Vasileos Pavlou, Agios Dometios, CY 2360, Nicosia, Cyprus.
Olymp Trade is one of the most popular brokers in the industry and currently has over 30.000 clients trading daily on its platform.
The Broker is certified by International Financial Commission (FinaCom) as a member of category A.
The Financial Commission grants traders protection for their account of up to $20.000 if a dispute between a trader and a broker is resolved in favor of the trader (under conditions set by FinaCom).
Olymp Trade is an “A” member of the International Finance Commission, an independent organization that provides and guarantees the protection of clients' rights. Specifically, if the broker acts illegally, the commission reimburses the trader up to $20.000 from his compensation fund.
- 1 Olymp Trade: Trading Platform
- 2 Countries and Availability Olymp Trade
- 3 Free Olymp Trade Education
- 4 Types of OlympTrade Accounts
- 5 Olymp Trade Safety and Regulation
- 6 Deposits on the Olymp Trade Platform
- 7 Types of Businesses and Payments Olymp Trade
- 8 Conclusion About Olymp Trade Broker
Olymp Trade: Trading Platform
The Olymp Trade platform is easy to navigate and very easy to use. The platform has a clean and organized look, with links that make it easy to find the trader you are looking for. You can access the trading platform in three different ways.
- Main site
- A desktop application (available for Windows and Mac)
- APP for mobile devices (for both Android and iOS)
Customers can access their business from anywhere through APP which is extremely convenient.
This is especially given that the site specializes in quick and short-term trades. Your mobile application has the same features as the 'desktop' and 'web' version.
The platform is very simple and intuitive, and shows you exactly what you need to follow your business and be successful.
They present a clear and easy-to-understand business framework on the home page. You can see the time and quantities next to the graph, making it easy to understand.
You can also customize charts by choosing chart type and color. At the bottom of the page there is information about open and closed deals, with a help chat.
Countries and Availability Olymp Trade
Olymp Trade accepts customers from regions such as Nigeria, South Africa, Thailand, Singapore, Kenya, Indonesia, Malaysia, Pakistan, Ukraine, Vietnam, Philippines, Brazil, Egypt, India, Thailand and Sri Lanka. Most countries in Asia, Africa and Latin America are accepted by this broker.
Unfortunately, Olymp Trade does not accept customers from Europe, USA, Canada, Japan, UK, Russia, Australia and Israel.
To meet the needs of its large international market, Olymp Trade is available in the following languages: Spanish, Chinese, Thai, Portuguese, Indonesian, Arabic, Malay, Vietnamese, English.
Trade on Olymp Trade with the MT4 Graphics Platform
MetaTrader 4 is a platform developed by MetaQuotes. Trading software is licensed to foreign exchange brokers.
These brokers, as far as you are concerned, provide the platform for your clients. It allows users to view live quotes, prices and make trades.
It is generally available for Windows and mobile devices. There are also some custom versions developed by brokers for the Mac OS.
MetaTrader 4 was widely recognized between 2007 and 2010. This time, many brokers started using it as an alternative to their proprietary software.
It is seen as the preferred choice even when compared to its successor – MetaTrader 5. This software did not get the same response from MetaTrader users.
Free Olymp Trade Education
Another important feature is its dedicated section to make people learn about fixed time trading.
Olymp Trade does a great job of providing educational material such as online lectures and seminars to clients.
Traders who have registered on the Olymp Trade platform get a more attractive capability: learning to trade forex and fixed-time trading, absolutely free. The broker offers everything needed for this:
● Video tutorials;
● Interactive courses;
● Strategies developed by leading analysts.
The materials include background information that will be useful for novices and more detailed information for experienced operators.
Short Term Trading Olymp Trade
Olymp Trade focuses on short term trading. These positions can be opened from 15 seconds to 3 hours. The platform allows traders to choose a specific expiration date.
This gives the customer more control over their business. They can also cancel an operation that is out of money. These unique features facilitate entry for novice traders.
Free Olymp Trade Demo
In addition to educational materials, Olymp Trade offers free demo accounts. When signing up, the trader has access to $10.000 in virtual training funds.
This way you don't risk losing any of your real money while you're learning.
The demo account is also a valuable feature for experienced traders to get a clear view of how the platform works.
Types of OlympTrade Accounts
After the initial demo account, there are two different account options. You can try them out when you're ready to start investing real money.
To open a standard account, you must deposit at least $10. Yes, this is a very low minimum.
Traders can trade with a minimum of $1 and a maximum of $2,000. The minimum withdrawal amount is $10, and there is no maximum.
Only one withdrawal can be made per day. Withdrawals take approximately 3 days to process.
To be eligible for a VIP account, a deposit of at least $2,000 must be made. This account offers additional benefits that the standard account does not.
The VIP account increases the maximum trading amount to $5.000. Another big advantage is access to a VIP advisor.
VIP advisors are experienced financial analysts. This also opens the door to additional tools to help your education and understanding of trading.
In addition to the standard tools, OlympTrade customers have access to several tools:
1. Cryptocurrencies: Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC). These assets are traded 24 hours, 7 days a week and produce a high rate of return even on weekends.
2. Business Cancellation Tool: if a forecast turns out to be wrong and the asset price goes in the opposite direction to the forecast, the trader can cancel an open contract and an amount of up to 60% of the investment is returned to the trader.
Cancellation is available for the first 5/6 of the option's expiration period. For example, if you open a business for 60 minutes, you can cancel it within the first 50 minutes and get a portion of the funds back in your account.
3. Pending Trading Tool: a pending trade is an order to buy or sell an option within a specified time, or when selected.
Example: You know that an important news item will increase the cost of Brent oil, and you want to open a suitable trade, but you cannot because you will not have access to the 'internet'.
A pending deal will help resolve this issue: you have created the appropriate order, and when the indicated time comes, the contract is automatically opened.
Olymp Trade Safety and Regulation
Before choosing a broker, one of your main concerns should be your security.
You should never invest your money with a site where you don't feel safe. In February 2016, Olymp Trade became a recognized member of the International Finance Commission (FinaCom).
FinaCom is an organization that assures investors. When using a platform insured by FinaCom, any irregularity is covered for up to $20.000.
It is also important to look for well-established platforms in the market. Olymp Trade has around 30.000 people who trade daily and a monthly turnover of 172 million dollars. They've also won numerous awards, including:
- Fastest Growing Broker — ShowFx World 2016.
- Better Options Broker — Forex Expo 2017
- Best Financial Broker — CPA Life Awards 2017
- Best Options Trading Platform — Le Fonti 2018
Deposits on the Olymp Trade Platform
Olymp Trade accepts deposits through the following methods:
- Crypto Coins Like Bitcoin
- Bank transfer
- Credit and debit cards
- Electronic payments such as Neteller and Skrill
The deposit is free, no additional fees, and the minimum deposit is $10. This makes the site easily accessible to everyone and a good starting point for beginners.
Funds are deposited relatively quickly, but bank transfers take longer than other methods. Cryptocurrencies tend to register a deposit faster.
Withdrawal of Funds
The maximum withdrawal amount depends on whether you have a VIP or standard account, with the minimum always being $10. Your funds will be sent to the payment method you used to deposit the money.
VIP members enjoy fast withdrawal processing times. Withdrawals take between 24 hours and 3 days for normal investors. For a VIP investor, it only takes a few hours for the money to fall into the account.
Some negative ratings on Olymp Trade say they have had trouble withdrawing their funds. Most of these issues can be resolved if you make sure your account is fully verified.
This simply entails having all your required personal information on file. The following steps are necessary to verify your account and start receiving payments.
- Upload a photo ID from an ID card or passport. The photograph must be from the shoulders up and fully visible.
- If you are using a credit or debit card, you must scan the card you will be using. The name, first 6 and last 4 digits must be visible. Just load the front of the card, not the back.
- If you are using an eWallet (eg Skrill), a picture of your digital eWallet is required.
Types of Businesses and Payments Olymp Trade
Most companies offer 6 or 7 trading options, such as one touch, long term, ladder, and call/put options. Olymp Trade only offers buy/sell trade.
Expiration times for buy/sell transactions are limited to a maximum of 24 hours and are ideal for those starting out in this type of negociação. Normal traders have an 82% return rate on successful trades on their transactions, while VIP traders have a 92% return rate.
- Live Chat
Customer service is available 24 hours, 7 days a week via email, live chat or telephone.
With a VIP account, your customer service experience is better. In part, this is due to the fact that Olymp Trade is registered with FinaCom.
If they don't resolve an issue after 14 days, you can get into a dispute with FinaCom. Customer service is usually quick to resolve any issues before it gets to this point.
Conclusion About Olymp Trade Broker
Olymp Trade is therefore a reliable broker that guarantees the security of all financial transactions, a stable broker that offers a wide range of tools and free education, which makes trading short term, hassle free and efficient.
That's why more and more traders are choosing OlympTrade around the world. THE platform it now has over 6,5 million registered users, at least 30.000 traders are actively trading each day, and that number is growing.
Pros / Cons
- Minimum deposit for entry
- Free demo account
- Many teaching tools
- intuitive design
- Mobile APP Easy to use
- Supports multiple languages
- Great customer service
- Does not accept EU Trades
- Does not accept US Traders