Olymp Trade can be an online broker that’s been offering digital options and currency trading since 2014. This broker is regulated by the IFC and it has over 25,000 traders utilizing their platform everyday.
But could this binary options broker be trusted or is he just a scam? Continue scanning this Olymp Trade review to find out reality.
Trading Platform
Olymp is straightforward to navigate and very user-friendly. The working platform looks clean and organized, with links which render it readily available what you deserve for. You have access to Olymp Trade three different ways.
1. Their main website
2. A desktop application (designed for both Windows and Mac)
3. Phone application (for Android and iOS)
Opening your trades everywhere via a phone app is very convenient. This is particularly with the site specializes in fast, short-term trades. Their mobile app is responsive and possesses the same capabilities in the desktop and web version. To put it differently, trading from their phones usually are not missing out.
The Olymp Trade website is very straightforward, revealing exactly what you need to track your trades and stay successful. They present an obvious, clear and understandable trade chart around the main page. You can 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 type of graph and color. On the base from the page, there is info on open and closed trades and also a help chat. The structure makes it easy for users to see only what they desire in the simple 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 for sale in the next regions:
• India
• Pakistan
• Middle East
• North Africa
• Latin America
• Southeast Asia
To adjust to the demands of their large international market Olymp Trade will come in the following languages:
• English
• Spanish
• Arabic
• Chinese
• Thai
• Vietnamese
• Portuguese
• Malay
• Indonesian
• Hindi
Beginner Friendly
The most unique aspects of Olymp Trade is its focus on education for beginner traders. These are adamant about trading not only being for professionals, but as an readily available income or hobby for anyone. Their free educational training is targeted on teaching strategy-based trading. Help familiarize users with the whole world of finance and how to think being a trader. Members have access to education by means of:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They will offer courses tailored towards experienced traders. Higher 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 make it available for beginners is the low deposits. The minimum deposit is defined at $10, as well as the minimum trade amount is $1. Newbies need not be worried about losing a sizable investment. They could make safe trades until they think convenient.
Short Term Trades
Olymp Trade targets short-term trades. These positions could be held at as short as 15 seconds to 3 hours. The working platform allows traders to pick a specific expiration time. This provides users with additional hold over their trade. They can also cancel a losing trade at any time. These improvements make it easy for beginning traders to have their foot in the door.
Free Demo
As well as training materials, Olymp Trade offers free practice accounts. When you register, you obtain access to 10,000 virtual coins to learn around with. By doing this, you don’t risk losing any real money to get in the learning curve. The demo account can be another valuable feature for knowledgeable traders to secure a sense of the interface. You can observe if it’s best for your needs without having to invest real currency.
Varieties of Accounts
Following the initial demo account, there’s two different choices for accounts. You can try these out when you are willing to start investing real cash.
Standard
To open up a standard account, you need to deposit at least $10. Yes, this is the suprisingly low minimum. Investors can trade no less than $1 as well as a maximum of $2,000. The minimum amount for withdrawal is $10, and there’s maximum. You are able to only make one withdrawal for day. Withdrawals take around 3 days to process.
VIP
To get qualified to receive a VIP account, you need to deposit a minimum of $2,000. This account provides additional benefits the standard account doesn’t offer. The VIP account ups your maximum trading figure to $5,000. Another huge benefit is access to a VIP consultant. VIP consultants are leading, experienced financial analysts. This opens the door to additional tools to aid in your education and knowledge of trading.
Security and Regulation
Prior to you buying a binary options broker, one of the 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 is an organization that secures investors. When utilizing a platform secured by FinaCom, any unlawful acts are addressed by around $20,000.
Additionally it is crucial that you search for well-established platforms. Olymp Trade has around 25,000 people trading daily and 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 Trading options Platform – Le Fonti 2018
Assets
Experienced traders might discover the amount of assets limiting. However, it really is convenient and never overwhelming for those getting their feet wet in the world of trading. It is your decision if you need to concentrate 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 such as Skrill and Neteller
• Cryptocurrency for example Bitcoin
Depositing is free with no extra charges, together with the minimum deposit being $10. This may cause the web page easily accessible to every one and a starting point for novices. Funds deposit relatively fast, but wire transfers take more time than other methods. Cryptocurrency tends to deposit the fastest.
Withdrawals
The most withdrawal amount is dependent upon whether you have a very VIP or standard account, using the minimum always remaining at $10. Your funds goes returning to whatever payment method you employed to deposit the cash. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take 24 hours to three days for traditional investors. It takes only several hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed issues with withdrawing their funds. Many of these issues might be resolved if someone makes sure your money is fully verified. This simply involves having your entire required information that is personal on file. These steps are needed to verify your account and initiate receiving payouts.
1. Uploading photo identification from an ID or passport. The photo has to be out of your shoulders up and completely visible.
2. If you are using a credit or debit card, you’ll want to scan the card that you’ll be using. The name, first 6 and last 4 digits have to be visible. You simply need to upload leading in the card not the trunk.
3. If you are using an electric wallet (ex. Skrill), an image of the electronic digital purse is necessary.
Trade Types and Payouts
Most companies offer 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 with a more One day and they are suitable for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer care
Customer support can be acquired 24/7 via email, live chat, or phone. Which has a VIP account, your support experience is much more phenomenal. To some extent, it is because Olymp Trade is backed up by FinaCom. If they don’t resolve a worry after Fourteen days, you are able to file a dispute with FinaCom. Customer service is normally fast to solve any troubles before it extends to this point.
Olymp Trade Review Conclusion – Conclusion
Experienced investors could be disappointed together with the insufficient assets and trading options. However, Olymp Trade could nevertheless be an opportune selection for someone seeking binary trading with mobile options. The interface was created with first time traders at heart, spending time to produce education and an immersive demo. The limited options can make it less intimidating for starters to jump into trading. Even the uncluttered, simple design and occasional deposit requirements allow it to be a nice-looking alternative for anyone wanting to get into trading.
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