Olymp Trade is definitely an online broker that is offering digital options and foreign currency trading since 2014. This broker is regulated by the IFC and possesses over 25,000 traders using their platform everyday.
But tend to this options broker really be trusted or is he merely a scam? Continue reading this Olymp Trade review to discover the facts.
Trading Platform
Olymp is easy to navigate and incredibly user-friendly. The working platform looks and also organized, with links which make it no problem finding what you are looking for. You have access to Olymp Trade three different ways.
1. Their main website
2. A desktop application (available for both Windows and Mac)
3. Phone application (for both Android and iOS)
Being able to view your trades everywhere via a phone app is extremely convenient. This is particularly considering the site focuses primarily on fast, short-term trades. Their mobile app is responsive and it has the identical capabilities with the desktop and web version. Quite simply, trading from other phones usually are not missing out.
The Olymp Trade web site is very straightforward, displaying what exactly you have to track your trades and become successful. They present a definite, straightforward trade chart about the main page. You can view the timing and amounts plus the chart, so that it is easy to immediately understand. You can even get a new charts by selecting the graph and color. On the bottom of the page, there’s information on open and closed trades as well as a help chat. The structure makes it easy for users to see only what they desire in the easy and clear presentation.
Countries and Availability
Olymp Trade just isn’t supported in america, Australia, Canada, EU, UK, Japan, or Israel. Olymp Trade can be an international broker service accessible in the following 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 the subsequent languages:
• English
• Spanish
• Arabic
• Chinese
• Thai
• Vietnamese
• Portuguese
• Malay
• Indonesian
• Hindi
Beginner Friendly
Just about the most unique aspects of Olymp Trade is its target education for beginner traders. They’re adamant about trading not merely being for professionals, but as an easily accessible income or hobby for everyone. Their free educational training is targeted on teaching strategy-based trading. Help familiarize users with all the world of finance and ways to think just like a trader. Members gain access to education in the form of:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They even can offer courses tailored towards experienced traders. More advanced classes give attention to analyst webinars. These teach essentials like managing capital and trading approaches for the existing market.
Another feature of Olymp Trade which makes it obtainable for beginners is low deposits. The minimum deposit is scheduled at $10, as well as the minimum trade amount is $1. First time traders need not bother about losing a sizable investment. They’re able to make low risk trades until they feel more comfortable.
Short Term Trades
Olymp Trade focuses on short-term trades. These positions may be held for as short as Just a few seconds to a few hours. The platform allows traders to decide on a certain expiration time. This provides users with additional hold over their trade. They may also cancel a losing trade without notice. These improvements allow beginning traders to obtain their grip.
Free Demo
As well as training materials, Olymp Trade offers free practise accounts. Once you register, you obtain usage of 10,000 virtual coins to try out around with. In this way, you do not risk losing all of your a real income while getting on the learning curve. The demo account is another valuable feature for knowledgeable traders to acquire a sense of the interface. You will see if it is best for you and never have to invest real currency.
Types of Accounts
After the initial demo account, there’s two different options for accounts. You can look at these out an individual will be ready to start investing actual money.
Standard
To start a typical account, you need to deposit at the very least $10. Yes, this is a really low minimum. Investors can trade at the very least $1 and a maximum of $2,000. The minimum amount for withdrawal is $10, and there’s maximum. You can only make one withdrawal for day. Withdrawals take around Three days to process.
VIP
To become entitled to a VIP account, you have to deposit a minimum of $2,000. This account provides additional benefits the standard account won’t offer. The VIP account ups your maximum trading amount to $5,000. Another huge benefit is usage of a VIP consultant. VIP consultants are leading, experienced financial analysts. This opens the door to additional tools to assistance with your education and comprehension of trading.
Security and Regulation
Before selecting a options broker, one of the main concerns needs to be their security. You shouldn’t invest your dollars which has a site where you don’t feel safe. In February of 2016, Olymp Trade became an A-recognized member of the International Financial Commision (FinaCom). FinaCom is definitely an organization that secures investors. When using a platform secured by FinaCom, any unlawful acts are covered by up to $20,000.
It’s also vital that you seek out well-established platforms. Olymp Trade has around 25,000 people trading daily as well as 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 Options Trading Platform – Le Fonti 2018
Assets
Experienced traders might discover the volume of assets limiting. However, it really is convenient and never overwhelming for anyone getting their feet wet in the arena of trading. It is your decision if you need to focus on an individual asset or choose a full 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 through following methods:
• Credit and atm cards
• Bank wire transfer
• E-payments like Skrill and Neteller
• Cryptocurrency like Bitcoin
Depositing is free without any extra charges, with all the minimum deposit being $10. This will make the site easy to get at to every one plus a starting point for beginners. Funds deposit relatively fast, but wire transfers take longer than other methods. Cryptocurrency tends to deposit the easiest.
Withdrawals
The utmost withdrawal amount is determined by whether you possess a VIP or standard account, with the minimum always remaining at $10. Your funds will go back 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 a few days for standard investors. It’ll only take some hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed problems with withdrawing their own. Many of these issues could be resolved if you make sure your money is fully verified. This simply involves having your required personal information on record. The subsequent steps must verify your money and start 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 use a credit or debit card, you’ll want to scan the credit card you are using. The name, first 6 and last 4 digits have to be visible. You only need to upload the front in the card not the rear.
3. If you are using a digital wallet (ex. Skrill), an image of the electronic purse is essential.
Trade Types and Payouts
A lot of 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 with a more A day and are perfect for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer Service
Customer service can be obtained 24/7 via email, live chat, or phone. With a VIP account, your customer support experience is even more phenomenal. Simply, this is because Olymp Trade is maintained by FinaCom. If they usually do not resolve an issue after 14 days, you are able to file a dispute with FinaCom. Customer support is usually fast to resolve any challenges before it reaches this point.
Olymp Trade Review Conclusion – Final Thoughts
Experienced investors could possibly be disappointed with the insufficient assets and trading options. However, Olymp Trade could still be an expedient selection for someone looking for binary trading with mobile options. The interface was created with new traders planned, spending some time to produce education and an immersive demo. The limited options makes it less intimidating for starters to jump into trading. Also the uncluttered, simple design and low deposit requirements allow it to be a stylish alternative for anyone seeking to get into trading.
Check out about Best Forex brokers check out our new website.