Olymp Trade is an online broker which has been offering digital options and currency trading since 2014. This broker is regulated with the IFC and possesses over 25,000 traders using their platform everyday.
But could this options broker really be trusted or is he simply a scam? Continue reading this Olymp Trade review to determine the truth.
Trading Platform
Olymp is easy to navigate and incredibly user-friendly. The working platform looks and also organized, with links which render it simple to find what you are looking for. Will come your way Olymp Trade three different methods.
1. Their main website
2. A desktop application (designed for both Windows and Mac)
3. Phone application (both for Android and iOS)
Opening your trades from anywhere using a phone app is very convenient. Almost all of the thinking about the site focuses on fast, short-term trades. Their mobile app is responsive and contains the same capabilities with the desktop and web version. Basically, trading from other phones are certainly not at a disadvantage.
The Olymp Trade website is very straightforward, revealing what exactly you’ll want to track your trades and become successful. They present a definite, easy to understand trade chart for the main page. You can observe the timing and amounts plus the chart, rendering it an easy task to immediately understand. It’s also possible to get a new charts by selecting the graph and color. On the bottom with the page, there exists facts about open and closed trades and also a help chat. The look makes it easy for users to determine only what they already want inside a basic and clear presentation.
Countries and Availability
Olymp Trade is not supported in the United States, Australia, Canada, EU, UK, Japan, or Israel. Olymp Trade is surely an international broker service available in the subsequent regions:
• India
• Pakistan
• Middle East
• North Africa
• Latin America
• Southeast Asia
To adjust to the requirements their large international market Olymp Trade comes in the next languages:
• English
• Spanish
• Arabic
• Chinese
• Thai
• Vietnamese
• Portuguese
• Malay
• Indonesian
• Hindi
Beginner Friendly
Probably the most unique aspects of Olymp Trade is its target education for beginner traders. They’re adamant about trading not only being for professionals, but as an easy to get to income or hobby for anybody. Their free educational training is targeted on teaching strategy-based trading. Guide familiarize users using the realm of finance and ways to think being a trader. Members have access to education as:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They can offer courses tailored towards experienced traders. Heightened classes target analyst webinars. These teach essentials like managing capital and trading methods for the present market.
Another feature of Olymp Trade which makes it obtainable for beginners is low deposits. The minimum deposit is scheduled at $10, and the minimum trade amount is $1. Newbies do not have to bother about losing a substantial investment. They could make safe trades until they are much more comfortable.
Short-term Trades
Olymp Trade is targeted on short-term trades. These positions can be held as short as Just a few seconds to a few hours. The working platform allows traders to pick a specific expiration time. This provides users with additional hold over their trade. Glowing cancel a losing trade whenever you want. These unique features permit beginning traders to obtain their foot in the door.
Free Demo
As well as training materials, Olymp Trade offers free practice accounts. If you register, you will get access to 10,000 virtual coins to play around with. This way, you do not risk losing many real money to get within the learning curve. The demo account is another valuable feature for skilled traders to obtain a sense of the interface. You will see whether it is best for you without having to invest real currency.
Varieties of Accounts
After the initial demo account, there are 2 different options for accounts. You can test these out when you’re able to start investing actual money.
Standard
To open a regular account, you have to deposit a minimum of $10. Yes, it is a very low minimum. Investors can trade at the least $1 as well as a maximum of $2,000. The minimum amount for withdrawal is $10, and there is no maximum. It is possible to only make one withdrawal for day. Withdrawals take around 3 days to process.
VIP
Being entitled to a VIP account, you should deposit at least $2,000. This account provides additional benefits the standard account won’t offer. The VIP account ups your maximum trading add up to $5,000. Another huge benefit is usage of a VIP consultant. VIP consultants are leading, experienced financial analysts. This too paves the way to additional tools to assist in your education and idea of trading.
Security and Regulation
Prior to buying a options broker, your main concerns needs to be their security. You must never invest your money which has a site in places you tend not to feel safe. In February of 2016, Olymp Trade became an A-recognized member of the International Financial Commision (FinaCom). FinaCom can be an organization that secures investors. When using a platform secured by FinaCom, any unlawful acts are covered by as much as $20,000.
Additionally it is vital that you seek out well-established platforms. Olymp Trade has around 25,000 people trading daily along with a $171 million monthly turnover. They also have won numerous accolades including:
• Fastest Growing Broker – ShowFx World 2016
• Best Options Broker – Forex Expo 2017
• Best Financial Broker – CPA Life Awards 2017
• Best Options Trading Platform – Le Fonti 2018
Assets
Experienced traders could find the volume of assets limiting. However, it really is convenient and never overwhelming for all those getting their feet wet in the arena of trading. It can be your choice if you wish to target just one asset or choose a whole number of assets. They currently offer 79 financial instruments, including:
• 36 currency pairs
• 5 ETFs
• 9 cryptocurrencies
• 13 stocks
• 6 commodities
• 10 indices
Olymp Trade accepts deposits using the following methods:
• Credit and an atm card
• Bank wire transfer
• E-payments for example Skrill and Neteller
• Cryptocurrency including Bitcoin
Depositing is free without having extra charges, using the minimum deposit being $10. As a result the web page easy to get to to everyone as well as a starting point for beginners. Funds deposit relatively fast, but wire transfers harder than other methods. Cryptocurrency will deposit the fastest.
Withdrawals
The absolute maximum withdrawal amount depends on regardless of whether you have a VIP or standard account, together with the minimum always remaining at $10. Your funds go returning to whatever payment method you accustomed to deposit the bucks. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take One day to 3 days for standard investors. It takes only a couple of hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed difficulty with withdrawing their funds. A large number of issues can be resolved if someone makes sure your money is fully verified. This simply involves having all of your required private information on record. These steps are needed to verify your account and commence receiving payouts.
1. Uploading photo identification from an ID or passport. The photo should be from the shoulders up and completely visible.
2. If you’re using a debit or credit card, you should scan the card you will be using. The name, first 6 and last 4 digits should be visible. You only need to upload leading of the card not the rear.
3. If you use an electronic digital wallet (ex. Skrill), a picture of one’s digital camera purse is required.
Trade Types and Payouts
Most companies offer 6 trading options such as one touch, long-term, ladders, and call/put options. Olymp Trade only offers high/low trading. High/low trading expiry times are limited into a more Twenty four hours and are ideal for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer satisfaction
Customer support can be obtained 24/7 via email, live chat, or phone. Which has a VIP account, your customer service experience is even more phenomenal. To some extent, the reason being Olymp Trade is backed up by FinaCom. When they tend not to resolve a concern after Fourteen days, you are able to file a dispute with FinaCom. Customer service is normally fast to resolve any troubles before it extends to this time.
Olymp Trade Review Conclusion – Conclusion
Experienced investors may be disappointed together with the not enough assets and trading options. However, Olymp Trade could be an expedient selection for someone seeking binary trading with mobile options. The interface is made with new traders in mind, spending some time to produce education and an immersive demo. The limited options causes it to be less intimidating for newbies to leap into trading. The uncluttered, simple design and low deposit requirements help it become a nice-looking option for anyone seeking to get into trading.
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