Olymp Trade Review | All About Olymp Trading
Olymp Trade is a longtime broker within the digital choices marketplace having launched back in 2014. They are certified by FinaCom making them a trusted choice for any online trader. Their background is very much as an international broker with a seamless platform and packed education centre available in 12 languages.
With over 25,000 people trading every day and around $171 million of monthly turnover Olymp Trade are a massive company in this space. Adding to the brokers’ prestige is an award cabinet to be proud of, including “Best Options Trading Platform” Le Fonti 2018. They are a grade A broker with a proven track record.
A solid offering of over 70 asset types including currency pairs, commodities, stocks, indices and crypto gives you plenty of opportunities. Another distinction between Olymp Trade is their comfortable level of entry. Traders can start with a small $10 deposit with minimum trades as low as $1 which is excellent news if you’re new to the world of digital options.
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What is Olymp Trade?
As mentioned above, the company behind this trading platform is half a decade old. However, its story begins in the early 2010s, when a team of finance and IT professionals came together with the aim of making online investing easy for the masses.
From the very beginning this collective has set its goal to democratize financial trading and make it available to literally anyone, not just to those who had a hefty starting capital or high appetite for risk.
The first version of the Olymp trading platform was an instant hit in its home markets of Eastern Europe and South-East Asia: even those who had zero experience with investing found it simple to use, and free demo accounts allowed for hands-on learning without the need to risk any real money.
From that initial version, a lot has been improved and changed over the years, but the core idea has remained the same:
to provide the easiest way for anyone to invest into popular financial assets such as currencies, stocks, and crypto.
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This (rather simple) idea turned out to fit quite well with the needs of millions of active and potential investors around the world: during just several years, Olymp Trade has expanded its offers to more than 12 languages in all regions of the world and executes over 20 trading orders every second.
The primary product of Olymp, and the thing that makes all of the above possible, is their online trading platform. Using a balanced combination of powerful features and thoughtful design, it makes trading easy even for the most inexperienced beginners.
Account Types and Demo Trading
What are the account types available on Olymp Trade? Basically, there is a demo account and two types of real accounts.
The demo account is free and provides the user with access to virtual funds, useful for practicing and learning how the platform works. The demo account is where you get to learn the trading process in a risk-free environment.
From the demo account, you can now transfer what you have learnt to the real trading setup, which provide two real account types for you.
There is the Standard account, which is the entry level account type.
The VIP account, which is ideally for those with access to greater capital, and who also have more trading experience under their belts. $2,000 is the minimum deposit required to qualify for a VIP account. The VIP account also confers some privileges which are not presented to Standard account holders.
Let us spend some time to highlight the advantages of a VIP account. The advantages are as follows:
=> Payouts on trades are higher. For instance, where a Standard account holder expects a payout of 80%, the VIP account holder can expect to get a 90% payout offer.
=> There is an option to claim a 50% account deposit bonus.
=> The maximum investment amounts for VIP account holders have a higher cap than Standard account holders. This provides a greater earning potential for the VIP account holder.
=> VIP account holders tend to get some form of cash backs on trades. Under this offer, a certain number of bad trades will see the VIP account holder get the amount invested on those trades refunded.
=> How about those invite-only educational webinars and trade analytics that have been shown to improve outcomes? VIP account holders get access to these.
=> A personalized account manager is always on hand to guide the VIP trader through any processes which may be challenging.
If no trades are made and there are withdrawals made within 15 days of the initial $2,000 deposit, the VIP status is revoked.
Olymp Trade Education
On website all the facts about the financial markets, systemized them and created the type of coaching that doesn’t have any analogies. Their courses contain Where to start, Your own analyst, Trading strategy from the ground
Olymp Trade trading platform
Olymp Trade trading platform is maximally custom-made for people who create their 1st steps within the world of choices.
One of the key advantages of the trading platform is the availability of a demo account immediately after the registration, which is not common. Usually, a demo account may be opened only when the replacement of a true account for a considerable amount. Both demo and real accounts enable to cancel the dealing before it’s completed with a refund of up to hour of the dealing quantity
Olymp Trade trading platform is maximally adapted for those who make their first steps in the world of options. At your initial log the system can tell you the way to figure with it within the form of convenient interactive prompts. And for those who really want to learn how to trade options, there is an entire tutorial section. The disadvantages of the trading platform include perhaps a relatively small list of tools for trade, but there are all the most popular financial assets here. Olymp Trade trading conditions
How does it work?
The outcome of a deal is determined by the change in price of your chosen asset over the time you choose when opening the deal. Let’s look at an example:
You open a one-minute, “up” deal on gold, which currently costs $1300. If the price of gold after one minute is higher than the current price, no matter by how much – you will earn a profit on your deal.
The convenient thing about this is that you know your potential gain and the exact payout of a successful deal before opening the deal. This means you can plan your trades more effectively and avoid depleting your account too much in case of several consecutive unsuccessful predictions. Neat!
You can choose among many possible financial instruments on Olymp Trade platform – but in general they all can be grouped into four major categories:
=> 35 various currency pairs, from the classical EUR/USD or GBP/JPY to more exotic USD/MXN or AUD/CAD. This is like trading forex, but you don’t need to take into account complicated margin requirements and leverage ratios.
=> 10 largest stock indexes from the most active stock exchanges around the world: from New York’s NASDAQ to Tokyo’s Nikkei 225.
=> 13 stocks of big multinational corporations, like Coca Cola, Tesla or Apple: the trading hours for these assets correspond with the opening hours of the respective stock exchanges.
=> 6 commodities, including precious metals like gold and silver, as well as energy-related goods such as oil and natural gas.
Apart from that, there’s a fifth class of tradable instruments on Olymp Trade that has been introduced just several years ago, but quickly gained in popularity: crypto. This one deserves its own chapter.
Deposits and Withdrawals
To make your first and subsequent deposits, click the yellow “Make a Deposit” button on the top right corner of the platform interface, or click on the “Deposit” tab on the left side of the trading platform, where you have the navigation tabs. If you are using a mobile device, click on the “+” button.
A new page will display all the deposit options available on Olymp Trade. These options include the bank wire, credit/debit cards, Bitcoin and various e-wallet options such as Skrill, Astropay, Fasapay and Neteller.
Clicking the payment option you want to use will first display the option of getting a bonus. Various bonus amounts (from 10% to 50% of deposit amount) are shown. You have an option to choose not to receive a bonus by clicking a drop down menu on the right hand side of the screen which displays three options: “deposit bonus”, “promo code” and “no bonus”.
You can choose to save your preferred payment method so you can use the one-click function to deposit with this method. Usually, clicking the payment method will send you to the integrated web app of that payment method, which will allow you securely login, conduct the transaction and get redirected to the Olymp Trade website with the deposit completed.
Withdrawals follow the same method the trader chose for fund deposits. Depending on the payment method chosen, withdrawals can take up to 4 days to process. Card methods and e-wallets are usually processed same day. Bitcoin withdrawals are processed once the required confirmations are completed. Bonuses cannot be withdrawn.
Large withdrawals will require additional verification. You will be asked to submit documents confirming your identity and place of residence. This is a one-off process.
We have spoken to some profitable traders on Olymp Trade who have shown proof of withdrawal of profits. Millions of dollars is paid to its clients on a monthly basis. Delays may occur due to verifications or during bank transfers (which typically take time).
Olymp Trade wouldn’t be a modern trading platform if it didn’t have highly convenient mobile interfaces. Why are we using plural here?
Because Olymp clients have two alternatives for trading on a mobile device: either through a native application or via the mobile browser, by simply opening the company’s website.
The two options look almost identical, as you can see from the screenshots above, so it’s down to your personal preferences whether you’ll use one or another.
Olymp Trade’s designers have managed to retain the simplicity and power of their full-size trading platform, while allowing users to open deals from any place with a mobile network connection.
The native app is of course available for Android and iOS devices, and can be downloaded using direct links.
How can you contact Olymp Trade to sort out issues or make inquiries about their product offering? There are several means available to you.
There is a Live Chat function which allows for instant communication with a representative of Olymp Trade. Access the live chat function by clicking the encircled question mark on the top right of the platform interface or website.
An online contact form is also available, as is a phone line which is available 24/7. The quality of customer support on Olymp Trade is quite good. Not only are responses fast, but the tone is friendly and helpful. Olymp Trade also has support staff who join online forums that are devoted to trading and contribute answers to some questions people have on those forums about the company’s trading product.
Olymp Trade may be a large player within the digital choices marketplace, and their seamless platform and competitive rates of return are excellent. Their minimum $10 deposit and $1 trades means that the service is accessible to anyone who wants to trade and their education service supports their commitment to new traders.
For the more experienced among you, there is the VIP Account, which boosts the rate of return further and the maximum trade amount as well as offering lots of special features.
Olymp Trade pays out over $9 million per month to traders in several countries around the world. They are a category A broker of the International Financial Commission which gets awarded to those that are proven to be honest and reliable.