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Trusted Olymp Trade Review – Scam or not?
Table of Contents
Is Olymp Trade a scam or not? – We will answer this question honestly in the following broker review. With more than 7 years of experience in online trading we tested the Olymp Trade trading platform with real money investments and we will give you an exact tutorial how it works. Furthermore, we will show you the conditions, functions, and possibility for new traders who want to open an account with this Forex Broker.
Trading is available for any device
Olymp Trade is a regulated company
|Review:||(5 / 5)|
|Regulation:||International Financial Commission (IFC)|
|Demo account:||✔ Free|
|Markets:||Forex, Cryptocurrencies, Commodities, Stocks|
|Products:||Fixed Time Trades & Forex|
|Yield:||up to 92%+|
|Support:||24/7 phone, chat, email|
(Risk warning: Your capital is at risk)
Watch our full review of the Olymp Trade trading platform:
Is Olymp Trade a regulated company?
Before you sign up with any online broker you should check the regulation of the company. On the internet, there are many scam websites that are not regulated and want to steal the customer’s money. They are looking professional but there is no regulation. Search for the regulation of the company on the broker´s website. In most cases, you will find the information about regulation and registration at the bottom of the website.
Olymp Trade is a fully regulated and legal company. The broker “Olymp Trade” is regulated by the International Finance Commission since 2020. Through our experience, we know that a lot of different Forex Brokers are regulated by this authority. Olymp Trade is regulated with the category “A” which implies more advantages and safety for the customers. In the next section, we will discuss the regulation of facts and details.
Category “A” means that the Financial Commission guarantees a monetary compensation up to 20,000€. The funds of traders are backed up if some mistakes happen or the broker or bank goes bankrupt. The Financial Commission is a contact person for every trader. If you got some issues with the broker you can contact them.
The violating of the rules of the certificate result in a loss of the license. Furthermore, the regulator verifies the trade execution of the broker. More than 5,000 orders are executed by the employees of the IFC. As a trader, you can be sure that you will get the best execution with Olymp Trade proofed by the IFC.
The regulator (IFC) is based in Hong Kong and London. It is an international authority for international brokers and a little bit different from the regulatory authorities of countries. From our experience, it is a trusted regulator and a fraud by Olymp Trade can be excluded. All in all, Olymp Trade shows that it is a real and legit company that is official regulated. In the next sections, we will go more into detail about the safety of the trading platform.
Olymp Trade is a regulated company:
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- Regulated by the International Finance Commission
- Approved trading technology
- Verified execution
- 20,000€ compensation fund
- Independent contact person
Is Olymp trade safe or not?
In the section before, we showed you that Olymp Trade is a fully regulated company. That is the first sign of a good and safe online broker. In addition, there are more points for the safety of customers which we will present to you. First of all, you have to confirm your phone number and your profile for the full security of the account.
The money of the clients is managed in European banks which are fully regulated, too. If you do a deposit or a withdrawal, Olymp Trade only uses regulated payment systems like online wallets, credit cards, or bank transactions. In addition, the broker does not use your money for hedging or speculation. The funds are very safe.
In order to get more safety for your account, you can enable the Two-factor authentication. This feature gives you a double login to your account. When you logged into your account you will get an SMS verification code or you can use the google authentification app to get full access to your account. This feature will stop hackers before they get into your account.
Olymp Trade is a very safe broker:
- Funds are managed in European banks
- Regulated payment methods
- The broker does not invest with your money
- Two-factor authentication for more safety (Google, SMS)
(Risk warning: Your capital is at risk)
What is behind Olymp Trade? – Company facts
Olymp Trade operates since 2020 and accepts international traders. The broker’s website belongs and is managed by Inlustris Ltd. which is based in James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building. The agent is Wallfort Limited which is based in KPMG Center, 1-st floor, 1 Agias Fylaxeos Street, 3025 Limassol, Cyprus. These companies are fully legal and official registered.
The broker offers options trading and forex trading on the multi-functional trading platform. As we can see on their website the broker and platform got many awards from other institutions and websites for being reliable and professional. Also, Olymp Trade is a sponsor of the LCR Honda team at the MotoGP 2020.
Olymp Trade Awards
The company got a really good track record and more and more traders want to trade on their trading platform. Olymp Trade grows very fast and is at the moment the most growing online broker worldwide. Because of easy access to the financial markets through the platform Olymp Trade is very popular. In addition, it is very comfortable to trade there which we will prove in the next sections.
More than 25,000 users are trading every day on the platform and the number is rising. With more traders, the payouts and the traders per month are rising too. Overall, Olymp Trade pays more than 13 million dollars to its clients each month. As an international broker, traders will get international support in 8 different languages.
In conclusion, Olymp Trade is one of the most popular online platforms because it is very easy and comfortable to invest in the financial markets. The company got a really good track record and is trusted by many institutions.
How to open your account with Olymp Trade
To open an account with Olymp Trade you have to follow the next steps. From our experience, it is very easy to get access to the trading platform and start trading. This section will explain to you exactly how to do it.
First of all, you have to sign up on the broker’s website or use the registration form below. After you insert your personal details you can get access to the trading platform. Olymp Trade allows you to use the platform in the free demo account or starting with a real money deposit of 10$. You can trade with real money without a full verification of your account. We recommend to do it first.
Sign up for you free account:
After signing up you should fullfill your account details (see the picture below). That means you confirm your email address and phonenumber. It is important to use your real data because the broker can require different documents for further verification. After you set up your account you can start to trade on the platform.
Open your account step by step:
- Sign up with Olymp Trade (use the form above)
- Verify your email address
- Verify your phonenumber
- Complete your account profile
- Start trading
Important verification process
The verification process only lasts a few minutes. It is very easy to complete the account profile. As mentioned before you need to confirm your email address and phone number. In the picture below, you can see the account dashboard. Olymp Trade allows you to trade without verification and full profile but we do not recommend to do that.
If you are trading with high order volume or make big transactions the broker can request further documents from you. That can be a photo of your passport or a utility bill. The broker does that to fight money laundering. This is nothing special and a well-known process that is done by 99% of the Forex Brokers.
Free Olymp Trade demo account for everyone
As professional broker Olymp Trade offers a free and unlimited demo account for its traders. Everyone can use this account there is no need for a deposit of real money. The demo account is a practice account filled up with virtual money. Traders can use the platform without risk and try new strategies or markets to trade. It is a good way to learn more about the software.
The demo account is filled up with 10,000$ and you can change with one click between the demo account and live account. In the picture above you see how you can do it. In addition, the demo account is unlimited. That means you can deposit virtual money on the account if you make a loss for example.
We recommend that every user try out the demo account first. It is very important to get knowledge about the trading platform and the financial products before you deposit real money. The demo account is the best way to improve your trading skills and a useful tool for online trading.
Advantages of the demo account:
- 10,000$ balance
- Free and unlmited
- Switch between real money and demo account with one click
- Fill up the balance by yourself
Demo account vs. real money trading
Another point to prove is the order execution. The order execution should be the same in the live account and demo account. As professional traders, we can tell you that there is nearly no difference between the order execution in the demo account and in the live account.
Why you should use the demo account:
- Learn about the trading platform
- Learn how to trade the financial products (forex and options)
- Develope new trading strategies
- Try out new markets and assets
(Risk warning: Your capital is at risk)
Review of the Olymp Trade VIP account
Another account type is the VIP account for traders. You can get an upgrade to your real account if you deposit 2,000$ or more on the platform. The VIP account got a lot of different advantages for traders which we will discuss in this section.
The key features of this account are a higher rate of return, account manager and risk-free webinars. Also, more professional education and service ist available for the traders. Compared to other online brokers the requirements for the VIP account are very low. A 2,000$ deposit is not a huge amount for most traders.
Check out the advantages for traders:
|Rate of return:||Up to 92%+|
|Maximum trade amount:||5,000$|
|Risk-free trades:||✔ depending on the trading turnover|
|Exclusive events:||Free gifts depending on the turnover|
How to deposit on Olymp Trade:
For deposit real money on the platform, you can use different payment methods. It always depends on your country of residence which payment methods are accepted. The minimum deposit is only 10$. You can start trading with 1$ investment amount each trade.
Some of the deposit methods
The deposits are made instantly to your account balance by electronic methods. In fact, is it quite easy to deposit money on the platform? Choose the payment method first. After that, you come into the next section (picture below). Traders can choose to take a free deposit bonus or not.
Make your deposit
Now you will get the payment notification if the process was sucessfull. Also, you will get a email with the deposit details. You will see the message in the picture below:
Confirmation of the payment
Deposit methods for 10$ minimum deposit:
- Credit Cards
- Neteller, Skrill
- And more methods depending on your country of residence
How to do your withdrawal:
For the withdrawal, you can use the same methods as the deposit. It is very easy to make a withdrawal too. Just go into the account dashboard and click on “withdraw”. Most withdrawals are processed within 24 hours. We tested the process and the money was in less than 5 hours into our account. The maximum duration for withdrawal is 3 business days.
Request your payment
Click on “send a request” and Olymp Trade will process the payment. The minimum limit for withdrawal is 10$ and there are no fees too. In addition, there are no maximum limits for your account.
In the picture below you will see our withdrawal request. We made a payment of 90$ with the payment method Neteller. It is a very efficient method to do international transactions.
Advantages of the Olymp Trade withdrawal:
- Very fast (from our experience in less than 24 hours)
- No fees
- 10$ minimum limit and no maximum limits
(Risk warning: Your capital is at risk)
Free Olymp Trade Bonus is available
Olymp Trade offers bonuses for traders. The bonus can be up to 100% of the deposit. For every new trader, there is a unique offer of a first deposit bonus. Olymp Trade doubles your deposit for free. Furthermore, you can get a high bonus on further deposits (see the picture below).
You can use the bonus to make additional profit. It is not possible to withdraw the bonus amount but you can withdraw your profit which is made by the bonus amount. There are no restrictions for your account and the account balance is not blocked. Compared to other bonus offers from other brokers this is a new type of bonus.
It is possible to activate the bonus or not. After you activated the bonus and made the deposit you will get an additional bonus balance in your account. Remember, you can not withdraw the bonus.
In conclusion, the Olymp Trade bonus is a very good program for any trader who wants to trade with more volume on the markets. It is completely free and there are no restrictions for your account. There are only advantages to it and we recommend to take the free bonus.
The advantages of the bonus:
- Up to 100%
- Free deposit bonus
- No restrictions or account balance blocking
- You can not withdraw the bonus but the profit
- Fair conditions
Are there Olymp Trade fees?
Surprisingly there are no fees for the deposit and withdrawals. This is a huge advantage compared to other Forex Brokers. You can do unlimited money transactions for free. In addition, for options trading, there are no fees to. Only when you trade forex there is a trading commission for open an order.
For an inactive account, there can be an inactivity fee. When you did not trade for 180 days there is a service fee of 10$. This fee only occurs if you got money in your account balance. To avoid the service fee you have to do at least 1 trade in 180 days.
Fees for traders:
- No deposit fee
- No withdrawal fee
- No option trading fee
- Forex trading commission
- Inactivity fee after 180 days (10$)
Olymp Trade Trading Platform Review
In the next section we will show you the Olymp Trade trading platform with all details and functions. The platform is multifunctional and offers a huge range of different markets and assets. The software is available for any device. That means you can trade with your computer, smartphone, or tablet.
From our experience, the platform is easy to use and understand. Within a few minutes, you will know how to trade because all functions are clearly shown in the software. For further information, Olymp Trade offers an education center with webinars, strategies, tutorials, and videos. All in all, it is one of the most user-friendly platforms for a trader. Continue reading to get an exact overview of how it works.
Olymp Trade Trading Platform
As you see in the picture above multi-charting is available. You use different indicators and chart types to analyze the market. We will go in more detail later. On the platform, you can find any function with less than 3 clicks. It is a very clear platform and all the functions are available for mobile (App) and desktop.
Advantages of the Olymp Trade software:
- User-friendly and multifunctional
- Easy to understand
- Clear platform
- Available for any device
- A lot of indicators and analysis tools
What can you trade on the platform? – Offers for traders
Traders can trade options or forex on the platform. These are 2 different financial products which we will discuss in the next section in detail. You can invest in these financial products in more than 200 different markets. Currencies, cryptocurrencies, stocks, ETFs, indices are available.
On the menu, you can pick the market you want. You will see the changes within 24 hours and the rate of return. It is also possible to save favorites. The rate of return (yield) for fixed time trades can be up to 92%+. It is important to know the regular trading time of your asset because the yield will be higher.
Chose any market
The platform works 24/7 and it is possible to trade on the weekend OTC assets or cryptocurrencies. Surprisingly on the platform, you will find a lot of different cryptocurrency assets. Traders can make a huge profit because the volatility is very high in these assets.
In conclusion, if you are searching for short-term or long-term investments then you are completely right on this platform. Olymp Trade offers the trader any market and financial product which he needs to make a profit.
Offers for traders:
- More than 200 different markets
- Trade forex and fixed time trades on one platform
- Yield up to 92%+
- Long-term and short-term trades
- Currencies, cryptocurrencies, indices, commodities, stocks, ETFs
- Trading 24/7
(Risk warning: Your capital is at risk)
Mobile Trading (Olymp Trade App)
Another important point to check for a reliable online broker is the mobile app. For successful trading is necessary to use the mobile phone sometimes. On the other side, a lot of traders prefer to trade with the smartphone or tablet instead of the computer. We tested the app completely and we will show you our review in this section.
The mobile app of Olymp Trade is available for Android and Apple (iOS) devices. Also, you can use a tablet for trading. You can install the app within 1 minute by downloading it from the app store. In the picture below you will see a direct screenshot of the app.
Screenshot mobile app
Similar to the web version the Olymp Trade app has the same functions and offers for trading. There are not so many differences between the desktop and the app. You can use the analytic tools, indicators, and chart types for trading.
The advantage of the mobile app is that you get a connection to your portfolio any time you want. You just need your smartphone to get access to over 200 different markets. In addition, the order execution is fast like in the desktop version. All in all, the mobile app is another point why Olymp Trade is so popular.
Mobile trading is possible:
- The app is available for any device (Android, Apple)
- Fast execution like desktop trading
- Same functions like desktop version
- Trade 24/7
Chart types and indicators for analysis
For trading options and forex a technical analysis should be used. On the platform, you can use different chart types and indicators. Olymp Trade offers a huge range of tools for the analysis. If this is not enough for you you can use fundamental news and analysis which is also provided by Olymp Trade.
Chart types and analysis tools
If you click on the chart next to the symbol the menu for chart types and indicators will open. You can use more than 4 different chart types for trading. The most popular chart type is the Japanese candlesticks. It allows you to get more information from the chart than by using the line chart.
For a further analysis more than the technical analysis, you can click on the menu to get fundamental data. Olymp Trade provides you the economic calendar, trading signals (VIP), and information about volatility. We recommend checking the news before trading because the volatility can be very strong on certain events like economic news.
Make professional analysis with Olymp Trade:
- More than 20 indicators
- Technical analysis tools
- Economic calendar
- Fundamental analysis
- Different chart types
Multi charting is possible to analyze more than one chart at the same time.
Fixed Time Trades trading tutorial:
When it comes to trading many traders are asking how to make money on the Olymp Trade platform. As mentioned before you can choose between fixed time trades and forex trading on the menu. It is possible to switch with one click between these two financial products. In the next sections, we will discuss how to trade on the platform and how does it work to invest money.
Fixed time trades (Wikipedia) is very popular because it is easy to understand how it works and you get a 50/50 chance to make a very high profit of up to 92%+. Just choose a market or asset for your analysis and investing. Make a forecast of the price direction in the future. You can choose an expiry time when the contract will end. At the end of the option, the price has to be below or above the strike price (entry point). You can trade in both directions (up or down).
Fixed Time Trades trading
There are only two options. You can lose the investment amount or win the high yield. Before you start the trade you know all conditions. Overall it means your hit rate has to be over 50% or you double your investment amount when you lose a trade. By using an asset with a high return of investment you can make a lot more money.
The minimum investment is 1$ per trade. You can choose any expiry time of the trade. It is possible to trade short-term and long-term fixed time trades. The minimum expiry time for the fixed time trade 60 seconds. That is why options are so popular. You can make a lot of money on a small-time horizon and the market has to move only 1 point in your predicted direction.
Summary of fixed time trades trading:
- Choose the asset you want
- Make an analysis and a forecast of the price movement
- Choose the expiry time of the fixed time trade
- Trade up or down
- Make profit or lose
(Risk warning: Your capital is at risk)
Forex Trading Tutorial:
There are some differences between these two financial products. The main difference between forex trading and fixed time trades trading is that with forex trading you will make more profit if the price moves more in your direction. With options trading the profit is limited. Forex trading means that you can make an unlimited profit or loss.
For all scary trader, you can not make a debt on the platform. The broker will close your trade automatically. With forex trading, it is possible to set limits for the profit and loss by the take-profit and stop-loss. For example, you invest in a currency and sell the other currency. If the price is rising you can make a profit. Also, short trades are possible because you always trade 2 different currencies in one currency pair.
Forex trading is leveraged trading. That means you trade with more money than you own. The maximum leverage is 1:500 and you see that clearly on the trading platform. Leverage is necessary for forex trading because there is very low volatility.
Summary of forex trading:
- Choose the market you want to trade
- Make a forecast and analysis of the chart
- Choose your investment amount
- Set the stop-loss and take-profit
- Start trading
- Close the trade whenever you want with profit or loss
Review of the support for traders
Olymp Trade offers a chat, email, and phone support. The employees are working 24 hours per week each day. In addition, as an international broker, the support is available in more than 8 languages.
From our experience, the support works very quick and professional. If you got any questions you can write a specialist directly through the chat option. Furthermore, there are huge FAQ articles to answer the most asked questions. VIP traders get a personal account manager which will help you personally. It is nothing special but Olymp Trade tries to make good contact with its customers.
|Support available:||Languages:||Options:||Phone number:|
|24/7||More than 8||Phone, email, chat||+27 (21) 1003880 Cape Town, South Africa
+54 (11) 59175747Buenos Aires, Argentina
Olymp Trade education center and free webinars
Olymp Trade offers a very good service for its traders. There is a huge education center with learning material. You can learn about each indicator, about the news, and about strategies and analysis. There are more than 318 different videos for traders. Beginners should be very comfortable with the mass of education.
Olymp Trade education
To get further information you can join the webinars. They are free to join and live made by a professional trader. The webinars are about different topics like strategies or beginner tutorials. In addition, you can ask questions and chat with other traders.
- How to trade
- Trend indicators
All in all, Olymp Trade tries to educate its traders. You can use this offer or not. It is completely for for everyone. From our experience, there is information for beginners and advanced traders.
Conclusion of the Olymp Trade review: Recommended broker
Our test result and review says that Olymp Trade is one of the best brokers for trading fixed time trades and forex. On this page we showed you all details and functions of the Forex Broker. Now you got a good overview of the platform and know why you should sign up.
Olymp Trade offers very good trading conditions for trading options and forex on one platform. The software is professionally designed and easy to use by beginners and advanced traders. You can customize the chart for different strategies like you want. Another advantage of the broker is that you can start trading with a small deposit of 10$. Also, the minimum investment per trade is only 1$.
In conclusion, Olymp Trade is not so popular without reason. You get very fast access to the financial markets and you can trade with a very high return of investment on the platform. It is a trusted and recommended broker.
Why you should open an account with Olymp Trade:
- Regulated and safe company
- Free demo account
- Minimum deposit $10
- More than 100 markets
- Fixed time trades and forex trading on one platform
Olymp Trade is a legit and reliable online broker. You can invest by using the best conditions for forex and options trading. (5 / 5)
Is Olymp Trade Scam? – Broker Review 2020
|(4.8 / 5)||IFC||10$||92%+|
Is Olymp Trade a reliable Digital Options and Forex Broker or not? – In this review, I will show you my test results of the company. Olymp Trade offers the possibility to bet on rising and falling markets to get a high profit/payout. Is it really worth to invest your money or not? – Now read more about it in this review.
The official homepage of Olymp Trade
What is Olymp Trade? – The company presented
Olymp Trade is an international Broker for Digital Options and Forex. The company is based in Suite 305, Griffith Corporate Centre P.O. box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines and managed by Walfort Limited. Since 2020. The Broker is regulated by the International Financial Commission. Traders are protected by a 20,000€ compensation fund. This is a really big advantage of this broker.
The broker offers you a free demo account to practice the financial instruments on the unique trading platform. Also, there is a phone, chat and email support. If you deposit 2000$ or more you can get a direct account manager and better support with special education and bonuses. In conclusion, it is a very experienced broker with knowledge. They pay out more than 9 million $ every month.
Facts about Olymp Trade:
- Broker since 2020
- Regulated by the IFC (20,000€ compensation fund)
- Free demo account
- Good and professional support
- Trade Digital Options and Forex on one platform
- Free education for the best success
For the first impressions, Olymp Trade offers a clearly structured and well-built website. Compared to other brokers they want to give the trader more than only Digital Options. As a customer, you got access to intensive education information about how to trade successfully. In addition, the broker provides his traders actually an analysis of the current market status. This is the best basis for becoming a professional trader.
Regulation and safety of the broker
Is Olymp Trade regulated? – As mentioned before the company is officially regulated by the IFC. This is a big advantage compared to other Digital Options Brokers. It is the most important point to check before you invest money with an online broker. The IFC acts internationally and is based in England and Hong Kong. The broker is regulated by category A. This is the highest category. The regulation checks out the trading technology and the reliability for customers.
By doing a violation of this license they would lose it. Traders can contact the IFC to report their problems with any broker. The IFC is neutral support who will clear this case of complaints.
Olymp Trade official regulation
Moreover, the website belongs to Inlustris Ltd where the agent is Walfort Limited. This is a company with the registration No. HE364695 based in KPMG Center, 1-st floor, 1 Agias Fylaxeos Street, 3025 Limassol, Cyprus. All in all, financial regulation and the company registrations show me that Olymp Trade is a legal and legit online broker.
Facts about the regulation:
- IFC regulation
- Monetary compensation up to 20,000€
- Registered company in Cyprus with No. HE364695
The conditions to trade with Olymp Trade
Olymp Trade offers you a free demo account. For trading with real money, you have to deposit the minimum of 10$. Sometimes there is a deposit bonus which doubles your money or you can get risk-free trades. The start amount for a trade is 1$ and the maximum is 2000$. VIP accounts can trade with maximum 5000$ in one trade.
More than 200 different assets are available to trade on the platform. The trade execution is out of my experience very fast. The yield/return for normal accounts can be between 75 – 95%. In the VIP Account, you can get higher returns of 92%+. In conclusion, Olymp Trade gives a trader all the options he needs.
Facts about the conditions:
- Only 10$ minimum deposit
- Start trading with 1$
- Free demo account with virtual money
- Maximum trade is 2000$, VIP 5000$
- Over 200 assets with high profit (92%+)
- Trading 24/7
- Forex, Cryptocurrencies, Stocks, ETFs, and more
Trading with Digital Options follows a very simple principle. Just make a forecast for the price direction of the markets in a certain expiry time and bet on rising or falling markets. You have to predict it correctly to get a high return on investment. On the platform, you can trade short-term or longterm trades (read more below). Digital Options are available for a diversity of underlying assets. The broker offers popular stocks for example of the S&P 500 and more other indices. Trade forex, commodities and cryptocurrencies 24/7 via computer or smartphone.
|Assets:||Support:||Trading on weekend:||Trade execution:|
|100+ Forex, Crypto, Stocks, Commodities||24/7 Phone, Chat, Email||Yes||Very fast and no laggs|
Review of the Olymp Trade Platform
In this review of Olymp Trade, it is important to look at the trading platform. At first glance, the platform looks very clear and user-friendly. After some practice, you will feel very comfortable. With Olymp Trade you can use the version for your computer or for your smartphone/tablet as an app.
There are a lot of functions in the interface. Do one click trades and sell options early before the expiry time. It is possible to develop different strategies with free indicators and technical analysis in a separate window. You can easily customize the chart. It is possible to trade 24/7 on this platform (crypto-currencies and OTC for example). The biggest advantage is the use of demo and real account in one window. You can change between the two accounts in a few seconds.
Facts about the platform:
- Flexible and user-friendly platform
- One-click trading
- Sell options early
- Use free indicators and strategies
- Get VIP Signals for high profit
- Change between Digital Options and Forex Trading
Charting for professional trading
As you see in the upper picture Olymp Trade offers multi-chart. That means you can open more than one asset at the same time. The chart is available in different types and you can customize it by yourself. The charting software works very smooth and without any lags. For example switch between different timeframes within less than 1 second.
- Line Chart
- Bar Chart
- Mountain Chart
Free indicators are available
Indicators are necessary for technical analysis and strategies. Olymp Trade offers a huge range of indicators. There are more than 20 different types to use. Just add them by one click. In addition, you can customize the period, color and more by the trading platform. Use the indicator like a confirmation for your technical analysis. You can improve your profit by using RSI, Bollinger Bands, Moving Average and more.
Drawing tools for Technical Analysis
Also drawing tools are available on the trading platform. Horizontal lines, vertical lines, trend lines, and Fibonacci can be used by traders. In conclusion, Olymp Trader offers a wide range of different tools for analyzing the assets. The platform provides a trader what he needs to trade successfully.
Available for any device
Olymp Trade Mobile Trading (App) for any device
Nowadays it is important for brokers to provide a mobile platform. Trades want to trade with their smartphone or tablet. Check out your portfolio and opened position while you are on the road. The app is available for any device and there are the same functions as in the web-based version. From my experience, the mobile app runs quickly and without lags. It completes the portfolio of the broker.
Trading tutorial: How to use Olymp Trade?
Olymp Trade offers to invest in rising or falling markets. You can buy short (put) and long (call) Digital Options or trade Forex. The financial products are very flexible and tradeable for different underlying assets. The advantage of Digital Options is that the risk is limited to the bet amount and you can earn a high profit in a short period of time. Also, long time horizons for trading are available on Olymp Trade.
For Forex Trading you are not limited by time but the market has to move more prices into your favor in order to make high profit. In the next section, I will explain to you how to trade with Olymp Trade.
Example Digital Options – EUR/USD – 92%:
Make a forecast of the EUR/USD in a certain expiry time. Buy or sell the asset with a Digital Options. If the market moves in your direction, you will get a high payout of 92%. 1000$ investment means a return of 1920$. 1000$ is the return of your bet amount and 930$ is the profit. For example, this can happen on a time horizon of 60 seconds or longer.
Earn up to 93$ in a small time horizon with Digital Options
- Select an asset based on the return or your analysis
- Select a chart type and do a forecast of the movement
- Choose a trade time
- Choose your investment amount
- Start trading (invest in falling or rising prices)
- Wait till the trade ends (The price have to be above or below your entry point)
- Earn a huge return or lose your invested money
Example Forex Trading with Olymp Trade:
Choose an asset you want and make a forecast like with Digital Options. The difference is now that your profit is depending on the market movement. In Forex Trading you buy or sell an asset and now you have to wait if the price is falling or rising. The more the price goes in the direction of prognosis, the greater the profit. For Forex Trading you can use a leverage of up to 1:500 and use a loss limit (stop loss) and profit limit (take profit).
Forex Trading with Olymp Trade
- Select any asset you want (currencies, cryptocurrencies, ETFs, stocks, commodities)
- Make a successful chart analysis
- Choose your investment amount (be careful because it is leveraged trading 1:500)
- Use a market order (by asset price) or limit order (by time)
- Select risk limits (stop loss and take profit)
- Start trading and earn money when the price is falling or rising
Free and unlimited Demo Account
Another important criterion for a reliable broker is the demo account. It is an account with virtual money. So you can trade without risk. Most traders get their first experience with this account by practicing their first trades. The account is useful for getting your first impression of the broker. Beginners and advanced traders can improve their strategies without risk.
Olymp Trade offers a free and unlimited demo account. As a trader, you can switch with one click between the demo and the real money. If you feel comfortable, start trading with real money. The conditions on these 2 accounts are the same and there is no difference.
Sign up on this form below and get a direct access to the trading platform:
Open your real account
With Olymp Trade you got only one account. The advantage is that you can switch between the demo and real money with one click. Just register with your full name, email, phone number, and a secret password. You can choose between a euro or dollar account. In addition to that, you can start trading directly with real money after the deposit. In my opinion, you should verify the account first because the broker only can withdrawal to verified accounts. It only takes a maximum of 10 minutes to verify your account. In addition, you can activate some features for more safety (picture below).
Account types review: VIP status and basic account
I like it that Olymp Trade offers some traders the VIP account. You have to deposit more than 2000$ for the VIP status. The VIP traders get better support and more education like webinars for trading. In addition to that, there are VIP managers who will help you in any situation and the maximum trade limit is higher (5,000$).
The biggest advantage is the high return of 92% or more. The chance of making money is higher than in the regular account. In conclusion, I recommend using the VIP account for trading.
Fast withdrawal and deposit with Olymp Trade
Just deposit and withdrawal with different payment methods in a few seconds. The deposit is as easy as the withdrawal. The withdrawal system works very fast and they payout in less than 3 days. Sometimes I waited for my withdrawal only 10 hours. Use your bank card (MasterCard, debit card, credit card) or an electronic payment system (Skrill, Neteller, Epayments, Yandex). Also, you can use Bitcoin. Sometimes the payment methods depend on your country.
There are no hidden fees for your transactions. This is a big advantage for Olymp Trade.
These payment methods are available:
- Credit Card (Visa/Master)
- Read my full “deposit tutorial” with real money
- Read my full “withdrawal tutorial” with real money
Olymp Trade fees and commission review
Olymp Trade does not charge any fees for deposits, withdrawals, and trading Digital Options. Sometimes it can happen that your payment method is charging a small fee. For Forex Trading is a small trading commission charged. This fee is depending on the market situation and the asset. You can see transparent the trading fee on the platform.
In conclusion, there are no hidden fees and Olymp Trade is one of the few brokers which charges no fees on deposits and withdrawals.
Bonus and conditions
Olymp Trade offers a range of deposit bonuses. The bonus depends on the amount and on the promotions. Sometimes there are special promotions for new customers.
For example, you do a deposit of 1000$ in your account and activate the bonus of 100%. Now you get the balance of 2000$ and 1000$ is additional money gifted by the broker. Now you can trade with more risk and money to improve your profit. It sounds very easy but you have to be a successful and profitable trader.
Most brokers have restrictions for their bonus offers like a turnover of the trading volume. Not so with Olymp Trade. You can withdraw your money and profit at any time but it is not possible to withdraw the bonus. In conclusion, the bonus can be used to earn additional profit but can not withdraw.
Facts about the bonus:
- Olymp Trade offers a free bonus
- There are no restrictions for you account balance
- You can not withdraw the bonus
- The bonus can be used to make additional profit
- Read more about the Olymp Trade Bonus Conditions
Are Robots and automated trading allowed with Olymp Trade?
Robots and automated trading tools are not allowed with Olymp Trade. If the broker finds out that you are using automated trading your account can be banned forever without warning.
On the internet, you will find a lot of different Olymp Trade bots or robots. From my experience, these systems are fake and they try to steal your money. I recommend it never to try any automated strategy or system which you will find on the internet without any proven statistic. So it is fake news that you can use a robot with Olymp Trade.
Robots are scam and fake
Olymp Trade does not allow robots and automated tools to protect its customers because there are a lot of scammers with automatic trading systems. In conclusion, you should never use any Olymp Trade robot or automated bot.
Webinars, Strategies and more – Olymp Trade education
The education is provided for beginners and experienced traders with Digita Options and Forex Trading. Learn more about new strategies, economic news and the psychology for traders. The range of education is very big. You can see the last webinars as videos in the education center. I did not watch all the videos yet because there is so much information.
The advantage is that everybody can use the education center. Just create a demo account an learn how to trade successfully. Start trading with virtual money and when you feel comfortable you can deposit real money. Earn hard dollars with the right knowledge.
Support and service for traders
Another important point of this review is the support and service for traders. From my experience, the support is very competently and works fast. Traders got a range of possibilities to ask questions. First of all, you can use the FAQs (frequently asked questions). Also, direct contact via chat and phone is possible. Another advantage is that the broker got well-educated account managers for VIP-Accounts. They are personally available for bigger clients. In conclusion with more than 8 different languages, the support is reliable and recommendable.
Facts about the support:
- 24/7 Support
- Account Managers
- Fast and professional support
- More than 8 different languages
- Vip training
Which countries are available?
As mentioned before the support speaks more than 8 different languages. Also, the website is available in more than 13 languages. The broker tries to improve its service for international clients by getting more additional service employees. Digital Options and Forex Trading are growing fast around the world but there are some countries where Olymp Trade does not provide its service:
These countries are prohibited: European Union, USA
Asian and Africa is the fastest growing region for Digital Options. Many traders ask: Is Olymp Trade legal in India? – Yes, it is. There are no restrictions for trading binary in Asia, India, and Africa. The Broker tries to improve its service in these countries.
The fastest growing countries are:
|Phone, Chat, Email||24/7||+27 (21) 1003880 – Cape Town, South Africa
+54 (11) 59175747 – Buenos Aires, Argentina
|Suite 305, Griffith Corporate Centre P.O. box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.|
Review conclusion: Is Olymp Trade real? – Scam or reliable Broker?
Olymp Trade is interesting for beginners and advanced traders. In conclusion, it is a very reliable broker for Digital Options and Forex Trading. The company provides a very good service since 2020. I tested the platform in detail to provide you good feedback. I have to mention the platform gives you the best execution for trades and you can customize it as you want.
Usually, the yield/return for normal accounts is between 75 – 95%. It depends on the asset and market you are trading. Otherwise, you can get a higher return with the VIP account. At the moment Olymp Trade is one of the best Online Brokers for private trading. I did not notice anything bad during this test.
Advantages of Olymp Trade:
Start trading with only 10$
Very good and professional trading platform
Trade Digital Options and Forex on one platform
Fast withdrawal and deposit
Free education for successful trading
Olymp Trade is one of the best addresses for Digital Options Traders. Earn a high profit in a small time horizion with a regulated company (4.8 / 5).
Olymp Trade Review
Olymp Trade is one of the most popular binary option brokers in the industry and currently has over 25,000+ clients trading everyday on their platform. This broker has been around since 2020 and has continuously improved their trading platform over the years.
Over the years, Olymp Trade has won numerous awards such as Best Financial Broker (CPA Life Awards 2020), Best Options Trading Platform (Le Fonti 2020), Best Options Broker (Forex Expo 2020), and The Fastest Growing Broker (ShowFx World 2020).
But is Olymp Trade the right broker for you? With so many scams in the industry, it’s important to do your due dilligence before signing up with any trading platform. In this Olymp Trade review, I’ll cover everything you need to know about this binary options broker.
Table of Contents
Olymp is easy to navigate and very user-friendly. The platform looks clean and organized, with links that make it easy to find what you are looking for. You can access Olymp Trade three different ways.
- Their main website
- A desktop application (available for both Windows and Mac)
- Phone application (for both Android and iOS)
Being able to access your trades from anywhere via a phone app is extremely convenient. This is especially considering the site specializes in fast, short-term trades. Their mobile app is responsive and has the same capabilities of the desktop and web version. Put simply, trading from their phones are not missing out.
The Olymp Trade website is very straightforward, showing you exactly what you need to track your trades and be successful. They present a clear, easy to understand trade chart on the main page. You can see the timing and amounts alongside the chart, making it easy to immediately understand. You can also customize the charts by choosing the type of graph and color. On the bottom of the page, there is information on open and closed trades along with a help chat. The design makes it easy for users to see only what they need in a simple and clear presentation.
St. Vincent and the Grenadines
IFC (International Financial Commission)
Yes ($10,000 Practice Account)
Deposits and Withdrawals:
Credit Card, Wire Transfers, E-Wallets, Cryptocurrency
Number of Assets:
ETFs, Stocks, Commodities, Indices, Currencies, Cryptocurrency
Up to 92% Profit
1 min, 5 min, 10 min, 3 hour, custom time.
Countries and Availability
Olymp Trade does accept traders from regions such as India, Nigeria, South Africa, Pakistan, Thailand, Singapore, Kenya, Indonesia, Malaysia, Ukraine, Vietnam, Brazil, Egypt, Thailand, Vietnam, Philippines, and Sri Lanka. Most countries inside of Asia, Africa, and Latin America are accepted by this broker.
Unfortunately, Olymp Trade does not accept clients from the United States, Europe, Canada, Japan, Australia, UK, Russia, or Israel.
To fit the needs of their large international market Olymp Trade is available in the following languages:
One of the most unique aspects of Olymp Trade is its focus on education for beginner traders. They are adamant about trading not only being for professionals, but as an easily accessible income or hobby for anyone. Their free educational training focuses on teaching strategy-based trading. They help familiarize users with the world of finance and how to think like a trader. Members have access to education in the form of:
- Interactive courses
- Strategies from experienced financial analysts
- Video tutorials and webinars
They even offer courses tailored towards experienced traders. More advanced classes focus on analyst webinars. These teach essentials such as managing capital and trading strategies for the current market.
Another feature of Olymp Trade that makes it accessible for beginners is their low deposits. The minimum deposit is set at $10, and the minimum trade amount is $1. New traders do not have to worry about losing a large investment. They can make low risk trades until they feel more comfortable.
Short Term Trades
Olymp Trade focuses on short-term trades. These positions can be held for as short as 15 seconds to 3 hours. The platform allows traders to choose a specific expiration time. This gives users more control over their trade. They can also cancel a losing trade at any time. These unique features make it easy for beginning traders to get their foot in the door.
Along with training materials, Olymp Trade offers free demo accounts. When you register, you get access to 10,000 virtual coins to play around with. This way, you don’t risk losing any of your real money while getting over the learning curve. The demo account is also a valuable feature for experienced traders to get a feel for the interface. You can see if it is right for you without having to invest real currency.
Types of Accounts
After the initial demo account, there are two different options for accounts. You can try these out once you are ready to start investing real money.
To open a standard account, you have to deposit at least $10. Yes, this is a very low minimum. Investors can trade a minimum of $1 and a maximum of $2,000. The minimum amount for withdrawal is $10, and there is no maximum. You can only make one withdrawal for day. Withdrawals take around 3 days to process.
To be eligible for a VIP account, you must deposit at least $2,000. This account provides additional benefits the standard account does not offer. The VIP account ups your maximum trading amount to $5,000. Another huge benefit is access to a VIP consultant. VIP consultants are leading, experienced financial analysts. This also opens the door to additional tools to aid in your education and understanding of trading.
Security and Regulation
Before choosing a binary options broker, one of your main concerns should be their security. You should never invest your money with a site where you do not feel safe. In February of 2020, Olymp Trade became an A-recognized member of the International Financial Commision (FinaCom). FinaCom is an organization that secures investors. When using a platform secured by FinaCom, any unlawful acts are covered by up to $20,000.
It is also important to look for well-established platforms. Olymp Trade has around 25,000 people trading every day and a $171 million monthly turnover. They have also won numerous accolades including:
- Fastest Growing Broker – ShowFx World 2020
- Best Options Broker – Forex Expo 2020
- Best Financial Broker – CPA Life Awards 2020
- Best Options Trading Platform – Le Fonti 2020
Experienced traders may find the number of assets limiting. However, it is convenient and not overwhelming for those getting their feet wet in the world of trading. It is up to you if you want to focus on a single asset or choose an entire group 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 via the following methods:
- Credit and debit cards
- Bank wire transfer
- E-payments such as Skrill and Neteller
- Cryptocurrency such as Bitcoin
Depositing is free with no extra charges, with the minimum deposit being $10. This makes the site easily accessible to everyone and a good starting point for beginners. Funds deposit relatively fast, but wire transfers take longer than other methods. Cryptocurrency tends to deposit the fastest.
The maximum withdrawal amount depends on whether you have a VIP or standard account, with the minimum always remaining at $10. Your funds will go back to whatever payment method you used to deposit the money. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take 24 hours to 3 days for standard investors. It takes only a few hours for VIP investors.
Some negative Olymp Trade reviews claimed issues with withdrawing their funds. Most of these issues can be resolved if you make sure your account is fully verified. This simply involves having all of your required personal information on file. The following steps are required to verify your account and start receiving payouts.
- Uploading photo identification from an ID or passport. The photo must be from your shoulders up and completely visible.
- If you are using a credit or debit card, you need to scan the card that you will be using. The name, first 6 and last 4 digits must be visible. You only need to upload the front of the card not the back.
- If you are using an electronic wallet (ex. Skrill), a picture of your electronic digital purse is required.
Trade Types and Payouts
Most companies offer 6 or 7 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 to a maximum of 24 hours and are ideal for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer support is available 24/7 via email, live chat, or phone. With a VIP account, your customer support experience is even more phenomenal. In part, this is because Olymp Trade is backed up by FinaCom. If they do not resolve an issue after 14 days, you can file a dispute with FinaCom. Customer service is usually fast to resolve any issues before it gets to this point.
Olymp Trade Review Conclusion – Final Thoughts
Experienced investors may be disappointed with the lack of assets and trading options. However, Olymp Trade could still be a convenient option for someone looking for binary trading with mobile options. The interface is designed with new traders in mind, taking time to develop education and an immersive demo. The limited options can make it less intimidating for newbies to jump into trading. Also the uncluttered, simple design and low deposit requirements make it an attractive option for anyone looking to get into trading.
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