Olymp Trade is definitely an online broker that is offering digital options and forex trading since 2014. This broker is regulated through the IFC and has over 25,000 traders using their platform everyday.
But tend to this binary options broker actually be trusted or is it just a scam? Continue scanning this Olymp Trade review to determine the reality.
Trading Platform
Olymp is not hard to navigate and intensely user-friendly. The platform looks neat and organized, with links which render it simple to find what you deserve for. You can access Olymp Trade three different ways.
1. Their main website
2. A desktop application (available for both Windows and Mac)
3. Phone application (both for Android and iOS)
Being able to access your trades from anywhere via a phone app is extremely convenient. Almost all of the considering the site focuses primarily on fast, short-term trades. Their mobile app is responsive and contains precisely the same capabilities of the desktop and web version. Put simply, trading from their phones are not at a disadvantage.
The Olymp Trade website is very straightforward, revealing just what you need to track your trades and stay successful. They present a clear, easy to understand trade chart for the main page. You can observe the timing and amounts plus the chart, which makes it very easy to immediately understand. It’s also possible to get a new charts by selecting the sort of graph and color. On the bottom of the page, there is facts about open and closed trades along with a help chat. The look makes it easy for users to determine only what they need in a easy and clear presentation.
Countries and Availability
Olymp Trade is not supported in the United States, Australia, Canada, EU, UK, Japan, or Israel. Olymp Trade is an international broker service for sale in these regions:
• India
• Pakistan
• Middle East
• North Africa
• Latin America
• Southeast Asia
To fit the requirements 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 facets of Olymp Trade is its target education for beginner traders. They’re adamant about trading not just being for professionals, but as an readily available income or hobby for everyone. Their free educational training targets teaching strategy-based trading. Help familiarize users with all the realm of finance and how to think like a trader. Members have accessibility 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. Higher classes give attention to analyst webinars. These teach essentials such as managing capital and trading approaches for the existing market.
Another feature of Olymp Trade which makes it offered for beginners is their low deposits. The minimum deposit is scheduled at $10, as well as the minimum trade amount is $1. New traders don’t need to be worried about losing a substantial investment. They’re able to make safe trades until believe that convenient.
Short-run Trades
Olymp Trade targets short-term trades. These positions could be held at as short as 15 seconds to three hours. System allows traders to select a specific expiration time. Thus giving users with additional control over their trade. They can also cancel a losing trade anytime. These improvements permit beginning traders to obtain their grip.
Free Demo
Together with training materials, Olymp Trade offers free practice accounts. Once you register, you get entry to 10,000 virtual coins to experience around with. Using this method, you never risk losing any real money to get on the learning curve. The demo account can be another valuable feature for skilled traders to obtain a sense of the interface. You will see if it’s good for you and never have to invest real currency.
Kinds of Accounts
As soon as the initial demo account, there are 2 alternative ideas for accounts. You can look at these out when you are able to start investing actual money.
Standard
To open up an ordinary account, you will need to deposit at the very least $10. Yes, it is a really 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 is no maximum. You are able to only make one withdrawal for day. Withdrawals take around 72 hrs to process.
VIP
Being qualified to apply for a VIP account, you have to deposit no less than $2,000. This account provides additional benefits the conventional account will not 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 also opens the door to additional tools to assist in your education and understanding of trading.
Security and Regulation
Before selecting a options broker, your main concerns needs to be their security. You should never invest your dollars using a site in which you don’t 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 working with a platform secured by FinaCom, any unlawful acts are covered by approximately $20,000.
It’s also important to search for well-established platforms. Olymp Trade has around 25,000 people trading each day 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 Options Trading Platform – Le Fonti 2018
Assets
Experienced traders could find the amount of assets limiting. However, it really is convenient rather than overwhelming for those getting their feet wet in the realm of trading. It can be your decision if you need to focus on an individual asset or choose a whole number 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 atm cards
• Bank wire transfer
• E-payments like Skrill and Neteller
• Cryptocurrency like Bitcoin
Depositing is provided for free without extra charges, with all the minimum deposit being $10. This will make your website readily available to every one along with a good starting point for beginners. Funds deposit relatively fast, but wire transfers harder than other methods. Cryptocurrency will deposit the easiest.
Withdrawals
The most withdrawal amount is dependent upon regardless of whether you use a VIP or standard account, using 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 Twenty four hours to 3 days for traditional investors. It takes only a couple of hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed problems with withdrawing their. Many of these issues may be resolved if you make sure your account is fully verified. This simply involves having your required personal information on record. The subsequent steps have to verify your bank account and start receiving payouts.
1. Uploading photo identification from an ID or passport. The photo has to be from your shoulders up and completely visible.
2. If you’re using a debit or credit card, you need to scan the charge card that you’ll be using. The name, first 6 and last 4 digits should be visible. You simply need to upload top of the card not the rear.
3. If you are using a digital wallet (ex. Skrill), a photo of one’s electronic digital purse is required.
Trade Types and Payouts
Many organisations offer 6 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 to some maximum of 24 hours and are suitable for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer Service
Customer service is available 24/7 via email, live chat, or phone. Using a VIP account, your customer support experience is much more phenomenal. To some extent, the reason being Olymp Trade is maintained by FinaCom. If they tend not to resolve a worry after 2 weeks, you can file a dispute with FinaCom. Customer care is often fast to resolve any challenges before it gets to now.
Olymp Trade Review Conclusion – Summary
Experienced investors could possibly be disappointed with the not enough assets and trading options. However, Olymp Trade could still be an expedient selection for someone searching for binary trading with mobile options. The interface is designed with first time traders in mind, spending some time to formulate education as well as an immersive demo. The limited options makes it less intimidating for starters to jump into trading. And also the uncluttered, simple design and occasional deposit requirements help it become an attractive choice for anyone looking to get into trading.
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