Olymp Trade can be an online broker which has been offering digital options and forex trading since 2014. This broker is regulated by the IFC and contains over 25,000 traders utilizing their platform everyday.
But sometimes this options broker really be trusted or are they simply a scam? Continue reading this article Olymp Trade review to discover the truth.
Trading Platform
Olymp is simple to navigate and very user-friendly. The platform looks and also organized, with links that make it simple to find what you are looking for. Will come your way Olymp Trade three various ways.
1. Their main website
2. A desktop application (intended for both Windows and Mac)
3. Phone application (both for Android and iOS)
Being able to view your trades everywhere you look by way of a phone app is quite convenient. This is particularly with the site focuses on fast, short-term trades. Their mobile app is responsive and contains exactly the same capabilities from the desktop and web version. Quite simply, trading from their phones are certainly not missing out.
The Olymp Trade web site is very straightforward, revealing what exactly you’ll want to track your trades and become successful. They present an obvious, straightforward trade chart for the main page. You can observe the timing and amounts plus the chart, which makes it very easy to immediately understand. You may also customize the charts by selecting the sort of graph and color. On the bottom of the page, there’s info on open and closed trades along with a help chat. The structure allows users to view only what they really want in a simple and easy clear presentation.
Countries and Availability
Olymp Trade isn’t supported in america, Australia, Canada, EU, UK, Japan, or Israel. Olymp Trade is surely an international broker service obtainable in these regions:
• India
• Pakistan
• Middle East
• North Africa
• Latin America
• Southeast Asia
To fit the demands of their large international market Olymp Trade is available in these languages:
• English
• Spanish
• Arabic
• Chinese
• Thai
• Vietnamese
• Portuguese
• Malay
• Indonesian
• Hindi
Beginner Friendly
One of the most unique facets of Olymp Trade is its target education for beginner traders. These are adamant about trading not just being for professionals, speculate an readily available income or hobby for anybody. Their free educational training focuses on teaching strategy-based trading. They assist familiarize users using the world of finance and the ways to think being a trader. Members get access to education by means of:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They even can offer courses tailored towards experienced traders. Heightened classes focus on analyst webinars. These teach essentials for example managing capital and trading techniques for the existing market.
Another feature of Olymp Trade that means it is available for beginners is their low deposits. The minimum deposit is set at $10, and also the minimum trade amount is $1. Newbies don’t need to bother about losing a sizable investment. They’re able to make safe trades until they are more comfortable.
Temporary Trades
Olymp Trade focuses on short-term trades. These positions could be held for as short as 15 seconds to three hours. The working platform allows traders to decide on a unique expiration time. This gives users with additional control over their trade. They can also cancel a losing trade at any time. These unique features permit beginning traders to get their foot in the door.
Free Demo
In addition to training materials, Olymp Trade offers free practise accounts. Once you register, you get use of 10,000 virtual coins to learn around with. By doing this, you never risk losing many real cash to get over the learning curve. The demo account is also a valuable feature for knowledgeable traders to secure a feel for the interface. You can view when it is best for you while not having to invest real currency.
Types of Accounts
Following your initial demo account, there are 2 different choices for accounts. You can test these out an individual will be able to start investing real money.
Standard
To open a regular account, you must deposit at the very least $10. Yes, this is the really low minimum. Investors can trade at the least $1 plus a more $2,000. The minimum amount for withdrawal is $10, and there isn’t any maximum. It is possible to only make one withdrawal for day. Withdrawals take around 72 hrs to process.
VIP
To get qualified to receive a VIP account, you have to deposit a minimum of $2,000. This account provides additional benefits the common account will not offer. The VIP account ups your maximum trading add up to $5,000. Another huge benefit is use of 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 options broker, one of your main concerns needs to be their security. You must not invest your hard earned money which has a site in which you do not feel safe. In February of 2016, Olymp Trade became an A-recognized member of the International Financial Commision (FinaCom). FinaCom is an organization that secures investors. When you use a platform secured by FinaCom, any unlawful acts are addressed by as much as $20,000.
It is usually important to look for well-established platforms. Olymp Trade has around 25,000 people trading daily as well as 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 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 need to target just one asset or choose a whole band 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 atm cards
• Bank wire transfer
• E-payments like Skrill and Neteller
• Cryptocurrency for example Bitcoin
Depositing is provided for free with no extra charges, using the minimum deposit being $10. This makes the site readily available to everyone as well as a start for novices. Funds deposit relatively fast, but wire transfers take longer than other methods. Cryptocurrency has a tendency to deposit the easiest.
Withdrawals
The maximum withdrawal amount depends upon whether you have a VIP or standard account, with the minimum always remaining at $10. Your funds should go time for whatever payment method you accustomed to deposit the cash. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take A day to 3 days for normal investors. It will only take a few hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed difficulty with withdrawing their own. A large number of issues may be resolved if someone makes sure your account is fully verified. This simply involves having all your required personal data on file. The next steps have to verify your account and initiate receiving payouts.
1. Uploading photo identification from an ID or passport. The photo should be from a shoulders up and completely visible.
2. If you are using a debit or credit card, you have to scan the charge card you are using. The name, first 6 and last 4 digits has to be visible. You only need to upload top of the card not the back.
3. If you use an electronic digital wallet (ex. Skrill), a photo of the electric purse is required.
Trade Types and Payouts
A lot of companies offer Six or seven trading options like one touch, long-term, ladders, and call/put options. Olymp Trade only offers high/low trading. High/low trading expiry times are limited to some more 24 hours and so are perfect for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer satisfaction
Customer service is available 24/7 via email, live chat, or phone. Using a VIP account, your customer service experience is even more phenomenal. To some extent, it is because Olymp Trade is maintained by FinaCom. When they usually do not resolve an issue after 2 weeks, it is possible to file a dispute with FinaCom. Customer support is often fast to resolve any issues before it reaches this point.
Olymp Trade Review Conclusion – Conclusion
Experienced investors could be disappointed with the lack of assets and trading options. However, Olymp Trade could still be a handy selection for someone looking for binary trading with mobile options. The interface was made with newbies in your mind, taking time to formulate education with an immersive demo. The limited options makes it less intimidating for starters to leap into trading. Also the uncluttered, simple design and low deposit requirements make it an attractive option for anyone thinking of getting into trading.
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