Olymp Trade is an online broker that has been offering digital options and forex currency trading since 2014. This broker is regulated by the IFC and contains over 25,000 traders using their platform everyday.
But can this options broker be trusted or is he merely a scam? Continue reading this article Olymp Trade review to determine the reality.
Trading Platform
Olymp is easy to navigate and intensely user-friendly. The working platform looks neat and organized, with links which render it easy to find what you deserve for. You can get Olymp Trade three different methods.
1. Their main website
2. A desktop application (available for both Windows and Mac)
3. Phone application (either way Android and iOS)
Being able to access your trades everywhere with a phone app is quite convenient. Almost all of the thinking about the site specializes in fast, short-term trades. Their mobile app is responsive and has the same capabilities in the desktop and web version. Put simply, trading from their phones aren’t getting left behind.
The Olymp Trade web site is very straightforward, showing you precisely what you need to track your trades and turn into successful. They present a definite, easy to understand trade chart about the main page. You will see the timing and amounts plus the chart, so that it is very easy to immediately understand. It’s also possible to change the charts by selecting the graph and color. At the base with the page, there is certainly information about open and closed trades as well as a help chat. The design allows users to view only what they desire inside a simple 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 definitely 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 is available 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 focus on education for beginner traders. They are adamant about trading not simply being for professionals, speculate an easy to get to income or hobby for any person. Their free educational training concentrates on teaching strategy-based trading. They help familiarize users using the whole world of finance and how to think as being a trader. Members get access to education by means of:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They can offer courses tailored towards experienced traders. Heightened classes concentrate on analyst webinars. These teach essentials for example managing capital and trading techniques for the existing market.
Another feature of Olymp Trade which make it offered for beginners is their low deposits. The minimum deposit is scheduled at $10, and the minimum trade amount is $1. New traders don’t need to worry about losing a substantial investment. They are able to make safe trades until they feel much more comfortable.
Short-run Trades
Olymp Trade concentrates on short-term trades. These positions can be held as short as Just a few seconds to 3 hours. The woking platform allows traders to choose a particular expiration time. This offers users additional control over their trade. Like cancel a losing trade at any time. These unique features make it easy for beginning traders to acquire their foot in the door.
Free Demo
Along with training materials, Olymp Trade offers free practice accounts. When you register, you get access to 10,000 virtual coins to experience around with. By doing this, you don’t risk losing any actual money whilst getting within the learning curve. The demo account is another valuable feature for knowledgeable traders to get a sense of the interface. You can see if it’s best for you and never have to invest real currency.
Kinds of Accounts
As soon as the initial demo account, there are two different options for accounts. You can look at these out once you are ready to start investing real cash.
Standard
To start a typical account, you must deposit at least $10. Yes, it is a really low minimum. Investors can trade at the least $1 along with 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 Three days to process.
VIP
To get entitled to a VIP account, you have to deposit at least $2,000. This account provides additional benefits the typical account won’t offer. The VIP account ups your maximum trading total $5,000. Another huge benefit is use of a VIP consultant. VIP consultants are leading, experienced financial analysts. This also paves the way to additional tools to aid in your education and understanding of trading.
Security and Regulation
Before selecting a options broker, each of your main concerns needs to be their security. You must not invest your cash having a site in places you don’t feel safe. In February of 2016, Olymp Trade became an A-recognized part of the International Financial Commision (FinaCom). FinaCom can be an organization that secures investors. When working with a platform secured by FinaCom, any unlawful acts are covered by approximately $20,000.
It’s also crucial that you try to find well-established platforms. Olymp Trade has around 25,000 people trading each day and a $171 million monthly turnover. They have also won numerous accolades including:
• Fastest Growing Broker – ShowFx World 2016
• Best Options Broker – Forex Expo 2017
• Best Financial Broker – CPA Life Awards 2017
• Best Trading options Platform – Le Fonti 2018
Assets
Experienced traders could find the volume of assets limiting. However, it’s convenient and never overwhelming for all those getting their feet wet in the arena of trading. It is your decision if you wish to focus on a single asset or choose a complete 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 through the following methods:
• Credit and debit cards
• Bank wire transfer
• E-payments like Skrill and Neteller
• Cryptocurrency like Bitcoin
Depositing is free without extra charges, with the minimum deposit being $10. This makes your website readily available to every one plus a good starting point for newbies. Funds deposit relatively fast, but wire transfers take longer than other methods. Cryptocurrency is likely to deposit the best.
Withdrawals
The most withdrawal amount depends upon whether you possess a VIP or standard account, with the minimum always remaining at $10. Your funds go to whatever payment method you employed to deposit the bucks. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take 24 hours to 3 days for standard investors. It will only take some hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed difficulties 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 information that is personal on record. These steps have to verify your and start receiving payouts.
1. Uploading photo identification from an ID or passport. The photo has to be from a shoulders up and completely visible.
2. If you are using a debit or credit card, you need to scan the card you are using. The name, first 6 and last 4 digits has to be visible. You simply need to upload the leading with the card not the back.
3. If you are using a digital wallet (ex. Skrill), a picture of the electronic purse is essential.
Trade Types and Payouts
Many organizations offer 6 or 7 trading options including one touch, long-term, ladders, and call/put options. Olymp Trade only offers high/low trading. High/low trading expiry times are restricted to some maximum of 24 hours and so are suitable for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer Service
Customer care is available 24/7 via email, live chat, or phone. Which has a VIP account, your customer service experience is much more phenomenal. Partly, this is because Olymp Trade is maintained by FinaCom. Whenever they do not resolve an issue after 14 days, it is possible to file a dispute with FinaCom. Customer satisfaction is usually fast to resolve any troubles before it grows to this point.
Olymp Trade Review Conclusion – Conclusions
Experienced investors might be disappointed together with the lack of assets and trading options. However, Olymp Trade could nevertheless be a convenient alternative for someone searching for binary trading with mobile options. The interface was created with newbies at heart, slacking to develop education and an immersive demo. The limited options makes it less intimidating for freshies to leap into trading. And also the uncluttered, simple design and low deposit requirements help it become an attractive alternative for anyone thinking of getting into trading.
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