Olymp Trade Broker Review (2023) ++ Scam or not? | Real test
Olymp Trade
Is Olymp Trade a scam or not? – We will honestly answer this question in the following broker review. With more than nine years of experience in online trading We have tested the Olymp Trade trading platform with real money investments. And we will give you an exact tutorial on how it works. We will also show the conditions, functions and possibilities for new traders who want to open an account with this. online broker .
(Risk Warning: Your capital may be at risk)
Is Olymp Trade a regulated company?
Before you register with any online broker You should check the company regulations. On the Internet, there are many fraudulent websites that are not regulated and want to steal customers' money. They look professional. but there is no regulation Find the company's regulations on the broker's website. in most cases You will find information on regulations and registration at the bottom of the website.
Olymp Trade is a fully regulated and legal company. The broker “Olymp Trade” is regulated by the International Financial Commission since 2016. From our experience we know that there are many differences. forex broker Regulated by this authority, Olymp Trade is regulated with category "A", which represents greater advantages and safety for its clients. In the next section, we will discuss the rules of fact and details.
Category “A” means the Financial Guaranteed Financial Commission. Compensation up to 20,000 €. Trader's funds will be backed up if something goes wrong or the broker or bank goes bankrupt. The Financial Commission is the contact point for every trader. If you have a problem with a broker You can contact them.
Violation of the rules of the certificate results in the loss of the license. In addition, the regulator monitors the broker's trading operations. More than 5000 orders are executed by IFC employees as traders. You can be sure that you will get the best execution with Olymp Trade, proven by IFC.
The controller (IFC) is located in Hong Kong and London. It is an international body for international brokers and is slightly different from the regulators of different countries. It is a trusted regulator and fraud by Olymp Trade can be excluded. All in all, Olymp Trade shows that it is a real and legit company that is officially regulated. in the next section We will go into more detail about the security of the trading platform.
Olymp Trade is a regulated company:
- Regulated by the International Finance Committee
- approved trading technology
- confirm action
- Compensation Fund 20,000 Euro
- independent contact
(Risk Warning: Your capital may be at risk)
Is Olymp Trade safe?
in the previous section We show you that Olymp Trade is a fully regulated company. That is the first sign of good and safe. Online broker . There are also additional points for customer safety that we will present to you. First of all, you need to verify your phone number and profile for account security.
Client funds are handled in European banks which are also fully regulated. If you deposit or withdraw money, Olymp Trade only uses regulated payment systems such as e-wallets, credit cards or banking transactions. In addition, the broker does not use your funds for hedging or speculation. Funds are very safe.
to make your account more secure You can enable two-factor authentication. This feature lets you sign in to your account twice. When you sign in to your account You will receive a verification code via SMS or you can use the Google Authentication app. to gain full access to your account. This feature stops hackers before they get into your account.
Olymp Trade is a very safe broker:
- Funds are managed in a European bank.
- Regulated payment methods
- The broker does not invest your money.
- Two-factor authentication for more security (Google, SMS)
(Risk Warning: Your capital may be at risk)
What is behind Olymp Trade? – Company facts
Olymp Trade has been operating since 2014 and accepts foreign traders. The broker's website is owned and operated by Industries Ltd., located at James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building. It is represented by Wallfort Limited, located at KPMG Center, Level 1, 1 Agias Fylaxeos Street, 3025 Limassol. , Cyprus These companies are legally and officially registered.
The broker offers option trading and forex trading. on a versatile trading platform as we can see on their website The broker and platform has received many awards from other institutions and websites for its credibility and professionalism. Olymp Trade is also the sponsor of the LCR Honda team in the MotoGP 2019.
The company has a very good track record. and more and more traders Want to trade on their trading platform, Olymp Trade has grown rapidly and is growing now. Online Broker Worldwide Due to the easy access to financial markets through the Olymp Trade platform, it is very popular. It is also very comfortable to trade there. which we will prove in the next section.
More than 25,000 users trade daily on the platform. and the number keeps increasing. when there are more traders Payouts and the number of traders per month have also increased. In total, Olymp Trade pays out more than 13 million dollars to its clients each month. As an international broker Traders get international support in 13 different languages.
In conclusion, Olymp Trade is one of the most popular online platforms because investing in financial markets is very easy and comfortable. The company has a good track record and is trusted by many institutions.
facts about the company
⭐ Rating: | 5 / 5 |
🏛 Established: | 2014 |
💻 Trading Platform: | Olymp online trading platform and app |
💰 Minimum deposit: | $10 |
💱 Account Currency: | USD, EUR |
💸 Withdrawal limits: | no |
📉 Minimum Trade Amount: | $1 |
⌨️ Demo Account: | yes |
🕌 Islamic Account: | yes |
🎁 Bonus: | Yes, there are several bonuses. |
📊 Assets: | Forex Commodities Indices Stocks ETF Bonds |
💳 Payment methods: | Bank cards, Neteller, Skrill, Perfect Money, various cryptocurrencies. |
🧮 Fees: | Exchange trading commissions Variable Service Fee |
📞 Support: | 24/7 via chat, phone or email. |
🌎 Languages: | 13 languages |
See the full review of the Olymp Trade trading platform:
(Risk Warning: Your capital may be at risk)
What are the pros and cons of Olymp Trade?
In this section, we will talk about the pros and cons of Olymp Trade. Each broker has its pros and cons. But before we talk about Let's start by saying that the broker is popular and trusted in the industry. Mainly for traders from Africa and Asia. This is mainly due to the low minimum deposit requirement.
Advantages of Olymp Trade | Disadvantages of Olymp Trade |
✔ Trusted and regulated company | ✘ Can't access MetaTrader 4 or MetaTrader 5 |
✔ Low minimum deposit | ✘ Fees and charges are rare on their website. |
✔ Various deposit methods | ✘ Some trading methods are not available on Olymp Trade. |
✔ The trading platform is very beginner friendly. | |
✔ No withdrawal or deposit fees | |
✔ High level of security with 2-factor authentication | |
✔ Scheduled trades and trades on one platform | |
✔ Return up to 92% |
Is Olymp Trade easy to use?
As mentioned briefly, this broker is very popular. And we love the fact that it's easy to understand. Optimized for mobile phones And there are great deposit options. Below you will find our Olymp Trade application.
criterion | score |
General website design and setup | ★★★★ Fast loading, easy to use, but some information is harder to find than other websites. |
application process | ★★★★ The sign-up process for a trial account took less than two minutes. |
use of trading area | ★★★★ Trading platforms are generally very easy to use. However, some advanced features are not immediately visible. |
mobile app usage | ★★★★★ Olymp Trade makes trading on smartphones very easy with their app. |
How to open an account with Olymp Trade
To open an account with Olymp Trade, you need to follow the next steps. from our experience It is very easy to access the trading platform and start trading. This section will explain exactly to you how to do it.
First you need to register on the broker's website or use the registration form below. After you enter your personal details You will have access to the trading platform. Olymp Trade allows you to use the platform in a free demo account or start with a real deposit of 10$. You can trade with real money without having to fully verify your account. We recommend doing it first.
Sign up for your free account:
after applying You should complete your account details. (See image below) means you verified your email address and phone number. It's important to use your real data. This is because the broker may require different documents for further verification. After you set up your account You can start trading on the platform.
Open your account step by step:
- Register with Olymp Trade (use the form above)
- Confirm your email address
- Verify your phone number
- Complete your account profile.
- start trading
(Risk Warning: Your capital may be at risk)
important inspection steps
The verification process takes only a few minutes. It's very easy to complete your account profile. as mentioned earlier You must verify your email address and phone number. in the picture below You will see Olymp Trade account dashboard allows you to trade without verification and full profile. But we do not recommend doing so.
If you trade with high order volume or large transactions The broker can request additional documents from you. This could be a passport photo or a utility bill. The broker does so to combat money laundering. This is not a special and well known process performed by 99% of forex brokers .
Free Olymp Trade demo account for everyone
As a professional broker, Olymp Trade offers free and unlimited demo accounts for traders. Anyone can use this account without the need to deposit real money. The demo account is a demo account filled with virtual money. Traders can use the platform risk-free and try out new strategies or markets to trade in. It's a great way to learn more about the software.
The demo account is loaded with 10000$ and you can switch with one click between the demo and real account. In the image above you can see how to do it. This means that you can deposit virtual money into your account if you lose, for example.
We recommend all users to try the demo account first. Getting knowledge about trading platforms and financial products is very important before you deposit real money. A demo account is the best way to improve your trading skills and a useful tool for online trading.
Advantages of a demo account:
- $10,000 balance
- free and unlimited
- Switch between real money and demo accounts with one click.
- top up by yourself
(Risk Warning: Your capital may be at risk)
Demo account with real money trading
Another point to prove is the execution of orders. Order execution should be the same on real and demo accounts. as a professional trader We can tell you that there is almost no difference between order execution in the demo account and in the real account.
Why you should use a demo account:
- Learn about trading platforms
- Learn how to trade financial products ( Forex and Time Trading ).
- Develop a new trading strategy
- Try new markets and assets.
Review Olymp Trade account types
Olymp Trade provides status updates for your account. You can be upgraded to your real account if you deposit $500, $2000 or more on the platform. Advanced and Expert accounts offer many different advantages for traders. which we will talk about in this section.
The key feature of this account is the higher rate of return. account manager and risk-free webinars Further education and professional services are also available for traders. compared to other places online broker The requirements for the expert account are very low. The $2000 deposit is not a huge amount for most traders.
Check out the advantages for traders with each account type:
| DEFAULT ACCOUNT: | ADVANCED ACCOUNT: | EXPERT ACCOUNT: | |
|---|---|---|---|
| MINIMUM DEPOSIT: | $ 10 | $500 | $2000 |
| YIELD: | Up to 82%+ | Up to 85%+ | Up to 92%+ |
| MAXIMUM TRADE AMOUNT: | $2000 | $3,000 | $5000 |
| ACCOUNT MANAGER: | no | ✔ | ✔ |
| RISK-FREE TRADE: | no | no | ✔ Depends on turnover |
| INDIVIDUAL TRAINING: | no | ✔ | ✔ |
| PRIVATE WEBINAR: | no | ✔ | ✔ |
| SECRET STRATEGY: | no | no | ✔ |
| TRADING SIGNALS: | ✔ | ✔ | ✔ |
| SPECIAL EVENTS: | no | no | Free gifts depending on turnover |
(Risk Warning: Your capital may be at risk)
How to deposit money in Olymp Trade:
To deposit real money on the platform You can use different payment methods. It depends on the country you live in which payment methods are always accepted. The minimum deposit is only $10, you can start trading with an investment amount of $1 for each trade.
You will now receive a payment notification if the process is successful. You will also receive an email with the deposit details. You will see the message in the image below:
Deposit methods for a minimum deposit of 10$:
- credit card
- Neteller, Skrill
- Bitcoin
- Ethereum
- WebMoney
- Fasapay
- JCB
- and other methods It depends on the country you live in.
➔ Read our full Olymp Trade deposit review.
(Risk Warning: Your capital may be at risk)
How to withdraw your money:
For withdrawals, you can use the same methods as deposits. Withdrawals are very easy too. Just go to your account dashboard and click "Withdraw". Most withdrawals are processed within 24 hours. We test the process and funds reach our account in less than 5 hours. The maximum withdrawal period is three working days.
Click on “Submit Request” and Olymp Trade will process the payment. The minimum limit for withdrawal is 10$ and there are no fees either. There is also no maximum limit for your account.
in the picture below You will see our withdrawal request. We paid 90$ with Neteller payment method, it's a very efficient way to make international transactions.
Advantages of withdrawing Olymp Trade:
- Very fast (in our experience, no more than 24 hours)
- no fee
- $10 minimum limit and no maximum limit.
(Risk Warning: Your capital may be at risk)
There is a free Olymp Trade bonus.
Olymp Trade offers bonuses for traders. The bonus can be up to 100% of the deposit. For every new trader there is a unique first deposit bonus offer. Olymp Trade doubles your deposit for free. In addition, you can get a high bonus on your deposit. more (see image below)
You can use the bonus to make more profit. The bonus amount cannot be withdrawn. But you can withdraw your profit earned from the bonus amount. There are no restrictions on your account and the account balance will not be blocked. Compared to other bonus offers from other brokers This is a new type of bonus.
Can I activate the bonus? After you activate the bonus and make a deposit. You will receive additional bonus balance in your account. Remember that you cannot withdraw the bonus.
In conclusion, the Olymp Trade bonus is a very good program for traders who want to trade more volume in the market. It's completely free and there are no restrictions on your account. There is only one advantage and we recommend getting free bonuses.
Benefits of bonuses:
- up to 100%
- free deposit bonus
- There are no restrictions or blocking on the account balance.
- You cannot withdraw the bonus. But profits can be withdrawn
- fair conditions
Are there any Olymp Trade fees?
Surprisingly, there are no fees for deposits and withdrawals. This is a huge advantage compared to other Forex brokers, you can make unlimited money transactions for free. In addition, there are no fees for trading options. When you only trade forex Is there a commission for opening orders?
for inactive accounts Inactivity fees may apply. When you are not trading for 180 days, there will be a service fee of 10$. This fee will only be incurred if you have funds in your account. to avoid service charges You must make at least one trade in 180 days.
Fees for merchants:
- No deposit fee
- No withdrawal fee
- No options trading fees
- Forex trading commissions
- Inactivity fee after 180 days ($10)
(Risk Warning: Your capital may be at risk)
Olymp Trade trading platform review
In the next section, we will show you the Olymp Trade trading platform with all details and functions. The platform is multifunctional and offers a wide range of markets and assets. This software works on all devices. That means you can trade with your computer, smartphone or tablet.
from our experience The platform is easy to use and understand. within minutes You will know how to trade because all functions are clearly displayed in the software. For more information, Olymp Trade offers an education center with webinars, strategies, tutorials and videos. Overall, it is one of the most user-friendly platforms for traders. Read on to get a definitive overview of how it works.
As you can see in the picture above. Multiple charts can be used. You use different indicators and chart types. to analyze the market We'll go into more detail later. On the platform, you can find any function in less than three clicks. It's a very clear platform. And all functions are available for mobile (app) and desktop.
Advantages of Olymp Trade software:
- Easy to use and multifunctional.
- customizable
- easy to understand
- clear platform
- Compatible with all devices
- Lots of indicators and analytical tools
(Risk Warning: Your capital may be at risk)
What can you trade on the platform? – offers for traders
Traders can trade options or forex on the platform. These are two different financial products, which we will discuss in more detail in the next section. You can invest in these financial products in over 200 different markets, including currencies, cryptocurrencies, stocks, ETFs and indices.
In the menu you can select the desired market. You will see changes within 24 hours and yields. Favorites can also be saved. The rate of return (yield) for fixed time trading is up to 92%+ . It is important to know the normal trading hours of your assets. because the return will be higher
The platform works 24/7. And it is possible to trade OTC assets or cryptocurrencies over the weekend. surprises on the platform You will find many different cryptocurrencies assets. Traders can make huge profits as these assets are highly volatile.
In summary, if you are looking for short-term or long-term investments. You have come to the right place with this platform. Olymp Trade offers any market and any financial product. to the trader he needs to make a profit
Offers for merchants:
- More than 200 different markets
- Forex trading and timed trading on one platform
- Productivity up to 92%+
- Long and Short Trading
- Currencies, cryptocurrencies, indices, commodities, stocks, ETFs
- Trading 24/7
(Risk Warning: Your capital may be at risk)
Mobile Trading (Olymp Trade App)
Another important point in reviewing a reliable online broker is the mobile app . For successful trading, a mobile phone is sometimes required. on the other hand Many traders prefer to trade with their smartphones or tablets instead of computers. We have fully tested the app. And we will show our review in this section.
The Olymp Trade mobile app is available for Android and Apple (iOS) devices. You can also use a tablet for trading. You can install the app within 1 minute by downloading it from the app store. in the picture below You will see a direct screenshot of the app.
Similar to the web version, the Olymp Trade app has the same functions and offers for trading. The differences between desktop and apps are not that great. You can use analytical tools, indicators and chart types for trading.
The advantage of the mobile app is that you can connect to your portfolio whenever you want. You just need your smartphone to access over 200 different markets. In addition, order execution is fast. The same applies to the desktop version. In conclusion, the mobile app is another point that makes Olymp Trade very popular.
Mobile trading is possible:
- This app is available for all devices (Android, Apple).
- Fast execution like desktop trading
- Same functionality as the desktop version.
- Trade 24/7
(Risk Warning: Your capital may be at risk)
Chart types and indicators for analysis
For trading options and forex it is best to use technical analysis. On the platform you can use various chart types and indicators. Olymp Trade offers many tools for analysis. If that's not enough for you You can use fundamental news and analytics provided by Olymp Trade.
If you click on the chart next to the symbol A menu for chart types and indicators opens. You can use more than 4 types of charts for trading. The most popular chart type is Japanese candlesticks. It allows you to get more information from a chart than using a line chart.
for further analysis more than technical analysis You can click on the menu to get basic information Olymp Trade provides economic calendar. Trading signals (VIP) and information about volatility to you. We recommend checking the news before trading. Because volatility can be extreme in certain events, such as economic news.
Do professional analysis with Olymp Trade:
- More than 20 indicators
- technical analysis tools
- economic calendar
- fundamental analysis
- different types of charts
Multiple charts can analyze more than one chart simultaneously.
Fixed time forex trading tutorial:
When it comes to trading Many traders ask how to make money on the Olymp Trade platform . You can choose between scheduled trading and forex trading from the menu. You can switch between these two financial products with just one click. in the next section We will talk about how to trade on the platform and how it works to invest your money.
Timed trading (wikipedia) is very popular because it is easy to understand how it works. And you will get a 50/50 chance of earning up to 92%+ just by choosing a market or asset for your analysis and investment. Predict the future price direction. You can choose the expiration time when the contract will end. At the end of the option The price must be lower or higher than the strike price (entry point). You can trade in both directions (up or down).
(Risk Warning: Your capital may be at risk)
There are only two options. You can lose the investment amount or get a high return. Before you start trading You already know all the terms. Overall this means that your hit rate must be greater than 50% or you must double your investment when you lose trades. when using assets that yield high investment returns You will be able to make more money.
The minimum investment is 1$ per trade. You can choose the trade expiry time. It is possible to trade short-term and long-term timeframes. The minimum expiration time for a timed trade is 60 seconds, that's why the option is so popular. You can make a lot of money in a short period of time. And the market must only move 1 point in the direction you predicted.
Summary of trades for the specified time:
- Choose the asset you want
- Analyze and predict price movements.
- Choose the expiration time of the timed trade.
- trade up or down
- make profit or loss
Olymp Trade Forex Trading Tutorial:
There are some differences between these two financial products. The main difference between forex trading and timed trading is that Forex trading will bring you more profit if the price moves more in your direction. with options trading Profits are limited. Forex trading means you can make unlimited profits or losses.
For all awesome traders You cannot create debt on the platform. The broker will close your trade automatically. with forex trading You can set limits for profit and loss with Take-Profit and Stop-Loss. For example, you invest in one currency and sell another. If the price increases, you can make a profit. Also, short trading is possible because you always trade two different currencies in one currency pair.
Forex trading is leveraged trading. That means you are trading with more money than you own. The maximum leverage is 1:500 and you can clearly see it on the trading platform. Leverage is necessary for forex trading as volatility is very low.
Forex trading summary:
- Choose the market you want to trade.
- Make forecasts and analyze charts.
- Choose your investment amount
- Set Stop-Loss and Take-Profit
- start trading
- Close the trade whenever you want with profit or loss.
(Risk Warning: Your capital may be at risk)
Is negative balance protection included in Olymp Trade?
Yes, Olymp Trade offers its clients negative balance protection in the sense that the trading balance cannot drop below zero. And you will never lose more money trading than you invested. Even if you use a multiplier, for example, if you open a position for $500, the maximum loss of that trade is the same amount.
How does Olymp Trade make money from you?
The way the broker has their fee structure is quite generous for the broker. There are no spreads or fees on fixed price trading. And the broker also refrains from charging commission on deposits and withdrawals. Only forex trading will you pay commission per trade. Based on the investment amount and the selected multiplier. besides that The only fee is a small fee, for example, a $10 inactivity fee. In conclusion, Olymp Trade is a very cheap broker with minimal fees.
Review Support for Merchants
Olymp Trade offers chat, email and telephone services. Employees work 24 hours a week every day. Support is available in more than 13 languages.
from our experience The support works quickly and professionally. If you have any questions You can directly write to an expert through the chat option. There are also a number of FAQ articles to answer the most frequently asked questions. VIP traders have personal account managers who will personally assist them. Nothing special, but Olymp Trade makes a good effort to communicate with customers.
SUPPORTS: | LANGUAGE: | CHOICE: | PHONE NUMBER: |
|---|---|---|---|
24/7 | over 13 | Phone Email Chat | +27 (21) 1003880 Cape Town, South Africa +54 (11) 59175747 Buenos Aires, Argentina |
Olymp Trade education center and free webinars
Olymp Trade offers very good services for traders. There is a large educational center with learning materials. You can learn about each indicator. about the news about strategy and analysis There are more than 318 videos for traders. Beginners should be comfortable with a lot of study.
For more information You can join the webinar. They are free to join and run by professional traders. Webinars on topics such as strategies or tutorials for beginners. Additionally, you can ask questions and chat with other traders.
Video tutorials:
- how to trade
- trend indicator
- Oscillator
- strategy
- webinar
All in all, Olymp Trade tries to educate traders. Can you use this offer? It's complete for everyone. from our experience There is information for beginners and advanced traders.
(Risk Warning: Your capital may be at risk)
Summary of Olymp Trade Review: Recommended Broker
The results of our tests and reviews indicate that Olymp Trade is one of the best brokers for fixed time and forex trading . Forex Brokers . Now you have a good overview of the platform. and know why you should sign up.
Olymp Trade offers very good trading conditions for trading options and forex on one platform. The software is professionally designed and easy to use by both beginners and advanced traders. You can customize charts for different strategies. that you want Another advantage of the broker is that you can start trading with a small deposit of 10$. Moreover, the minimum investment per trade is only 1$.
In conclusion, Olymp Trade is not popular for no reason. You can get quick access to the financial markets. And you can trade with a very high return on investment on the platform. Trusted and Recommended Broker
Why you should open an account with Olymp Trade:
- A regulated and secure company
- free demo account
- The minimum deposit is $10.
- more than 100 markets
- Returns up to 92%+
- account type
- bonus program
- Free education and webinars
- Timed trading and Forex trading on one platform
Olymp Trade Review
summarize
Olymp Trade is a regulated and secure company with a bonus program and high returns of 92%+.
Olymp Trade is legal and reliable. Online broker . You can invest using the best conditions for forex and options trading 
(5/5).
(Risk Warning: Your capital may be at risk)
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