Olymp Trade is definitely an online broker that has been offering digital options and foreign currency trading since 2014. This broker is regulated through the IFC and has over 25,000 traders using their platform everyday.
But can this options broker really be trusted or is it just a scam? Continue looking over this Olymp Trade review to discover reality.
Trading Platform
Olymp is simple to navigate and extremely user-friendly. The working platform looks as well as organized, with links making it simple to find what you are looking for. You can get Olymp Trade three various ways.
1. Their main website
2. A desktop application (designed for both Windows and Mac)
3. Phone application (either way Android and iOS)
Being able to view your trades everywhere by way of a phone app is very convenient. Almost all of the with the site focuses primarily on fast, short-term trades. Their mobile app is responsive and it has exactly the same capabilities in the desktop and web version. To put it differently, trading from their phones aren’t really missing out.
The Olymp Trade web site is very straightforward, showing you what exactly you’ll want to track your trades and turn into successful. They present an obvious, straightforward trade chart for the main page. You can observe the timing and amounts alongside the chart, so that it is simple to immediately understand. You can also change the charts by selecting the type of graph and color. On the bottom from the page, there is certainly information about open and closed trades plus a help chat. The look makes it easy for users to find out only what they really want in the basic and clear presentation.
Countries and Availability
Olymp Trade just isn’t supported in the United States, Australia, Canada, EU, UK, Japan, or Israel. Olymp Trade is definitely an international broker service obtainable in the next regions:
• India
• Pakistan
• Middle East
• North Africa
• Latin America
• Southeast Asia
To suit the requirements their large international market Olymp Trade is available in these languages:
• English
• Spanish
• Arabic
• Chinese
• Thai
• Vietnamese
• Portuguese
• Malay
• Indonesian
• Hindi
Beginner Friendly
Just about the most unique facets of Olymp Trade is its give attention to education for beginner traders. They may be adamant about trading not simply being for professionals, speculate an easily accessible income or hobby for everyone. Their free educational training targets teaching strategy-based trading. Guide familiarize users with the arena of finance and the way to think like a trader. Members have accessibility to education available as:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They will offer courses tailored towards experienced traders. More complex classes focus on analyst webinars. These teach essentials like managing capital and trading strategies for the actual market.
Another feature of Olymp Trade which make it offered for beginners is low deposits. The minimum deposit is scheduled at $10, and also the minimum trade amount is $1. New traders need not bother about losing a substantial investment. They can make low risk trades until they feel much more comfortable.
Short Term Trades
Olymp Trade concentrates on short-term trades. These positions can be held at as short as 15 seconds to 3 hours. The platform allows traders to choose a particular expiration time. This provides users additional control over their trade. They can also cancel a losing trade whenever you want. These improvements help beginning traders to get their grip.
Free Demo
In addition to training materials, Olymp Trade offers free practise accounts. Once you register, you get usage of 10,000 virtual coins to play around with. In this way, you don’t risk losing many real cash while getting over the learning curve. The demo account can be another valuable feature for knowledgeable traders to obtain a feel for the interface. You can see if it’s good for you and never have to invest real currency.
Types of Accounts
Following the initial demo account, there are two different choices for accounts. You can try these out once you are willing to start investing a real income.
Standard
To start an ordinary account, you will need to deposit at least $10. Yes, it is a very low minimum. Investors can trade at the least $1 as well as a maximum of $2,000. The minimum amount for withdrawal is $10, and there isn’t any maximum. You can only make one withdrawal for day. Withdrawals take around 72 hours to process.
VIP
To be qualified to receive a VIP account, you must deposit no less than $2,000. This account provides additional benefits the typical 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 too opens the door to additional tools to assistance with your education and understanding of trading.
Security and Regulation
Before choosing a binary options broker, one of your main concerns needs to be their security. You must not invest your money having a site where you do not feel safe. In February of 2016, Olymp Trade became an A-recognized an affiliate the International Financial Commision (FinaCom). FinaCom is surely an organization that secures investors. When utilizing a platform secured by FinaCom, any unlawful acts are handled by approximately $20,000.
It is also imperative that you 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 can be convenient rather than overwhelming for anyone getting their feet wet in the world of trading. It’s up to you if you want to give attention to an individual asset or choose a full gang 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 an atm card
• Bank wire transfer
• E-payments like Skrill and Neteller
• Cryptocurrency for example Bitcoin
Depositing costs nothing without having extra charges, with the minimum deposit being $10. This may cause your website easy to get to to everyone along with a good starting point for starters. Funds deposit relatively fast, but wire transfers take longer than other methods. Cryptocurrency will deposit the easiest.
Withdrawals
The most withdrawal amount is determined by regardless of whether you have a very VIP or standard account, with all the minimum always remaining at $10. Your funds goes back to whatever payment method you utilized to deposit the money. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take One day to three days for traditional investors. It’ll only take some hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed difficulties with withdrawing their funds. Many of these issues may be resolved if one makes sure your is fully verified. This simply involves having all of your required personal data on file. The subsequent steps must verify your account and commence receiving payouts.
1. Uploading photo identification from an ID or passport. The photo should be from the shoulders up and completely visible.
2. If you use a credit or debit card, you should scan the card you are using. The name, first 6 and last 4 digits should be visible. You simply need to upload the front with the card not the rear.
3. If you are using an electronic digital wallet (ex. Skrill), a photo of your electronic purse is necessary.
Trade Types and Payouts
Many organisations offer 6 or 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 limited to some maximum of 24 hours and they are suitable for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer Service
Customer care can be acquired 24/7 via email, live chat, or phone. Using a VIP account, your customer service experience is more phenomenal. To some extent, it is because Olymp Trade is maintained by FinaCom. If they usually do not resolve a problem after 14 days, you can file a dispute with FinaCom. Customer service is usually fast to eliminate any issues before it gets to this time.
Olymp Trade Review Conclusion – Final Thoughts
Experienced investors could be disappointed with all the insufficient assets and trading options. However, Olymp Trade could always be a handy choice for someone searching for binary trading with mobile options. The interface was made with first time traders in your mind, spending time to develop education with an immersive demo. The limited options makes it less intimidating for freshies to leap into trading. And also the uncluttered, simple design and occasional deposit requirements help it become a nice-looking alternative for anyone looking to get into trading.
More information about Forexof official website you can check our new net page.