OLYMP TRADE REVIEW

In this article, we’re gonna observe one of the most trusted and hyped online broker websites nowadays - Olymp Trade!

So…

What is Olymp Trade?

Olymp Trade was founded in 2014 and since then the company has been one of the leading in the field of online brokerage and providing various tools for successful derivatives (and other instruments) trading.

The broker’s website belongs to and is managed by Industries Ltd. which is based in James Street, Kingstown, First St Vincent Bank Ltd Building. The agent is Wallfort Limited which is based in KPMG Center, 1-st floor, 1 Agias Fylaxeos Street, 3025 Limassol, Cyprus. Needless to say that these companies are fully legal and officially registered.

Вот тут можно сделать навигацию по статье с якорными ссылками

Also, Olymp Trade is a sponsor of the LCR Honda team at the MotoGP 2019.

The Olymp Trade platform is a popular platform for trading cryptocurrencies and other financial instruments, with over 60 million registered users worldwide, $ 16 million in average monthly payments to users, 30 million transactions on the platform, and $ 211 million in a monthly trade turnover.

The company operates in more than 194 countries around the world, being the choice of both beginners and professionals in the world of trading.

Countries where Olymp Trade operates

Olymp Trade accepts traders from Thailand, South Africa, Singapore, Hong Kong, India, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.

Traders can’t use Olymp Trade from Canada, Australia, United States, Japan, Austria, Belgium, Bulgaria, Cyprus, Denmark, Finland, France, Germany, Ireland, Italy, Israel, Latvia, Lithuania, Netherlands, Norway, New Zealand, Portugal, Poland, Romania, Slovakia, El Salvador, Spain, Switzerland, Sweden, United Kingdom, Russian Federation.

In this review, we will talk about all the aspects of working on the platform, starting with an overview of the trading platform and services/tools available for trading on the platform and ending with registration and opening your live/demo trading accounts.

Olymp Trade Interface

The Olymp Trade login interface is extremely easy to get used to and not overloaded with unnecessary information panels, unlike other similar platforms for online brokers.

  • The platform itself is multi-platform, that is, it is possible to use both Android / IOS applications and trade on the platform through a browser, in the form of a web application.
  • A simple and convenient chart on the main page for classic trading, which displays all the necessary information in the form of patterns and timeframes, which is very easy to learn and read, and do not forget that the entire interface (columns, menus, candles on the chart, displaying indicators) available for individual customization.
  • A wide variety of different assets for trading in different markets. As one of the leading online brokerage companies, Olymp Trade has a variety of assets and instruments available to trade in various markets such as stocks, fiat currencies, cryptocurrencies, and even ETFs.
  1. ETFs
  2. Stocks
  3. Regular currency pairs
  4. Cryptocurrency

Commissions and spread

To test the platform's capabilities, we traded a little on both a demo account and a standard Olymp Trade account, and we can conclude that with a spread of 1.1, the platform is one of the most competitive brokers on the market.

Of course, VIP accounts have lower spreads than those on standard accounts, but even on a standard account, the spreads are quite decent.

Fees

Yes, unfortunately, the fixed commission rate for transactions is quite high at Olymp Trade and equals 15% of the total amount.

Account maintenance is free of charge, but you can sign up to your account by subscription (a regular monthly subscription will cost you $ 10 per month, which is automatically canceled if this amount of money is insufficient at the beginning of each month).

It is also worth noting that if you do not use your account for six months, then the service will switch to a paid basis.

Olymp Trade

You can see there are all kinds of assets available for trading

Olymp Trade also charges a commission for a Forex trade, depending on the presence of various factors, such as the market situation, multiplier, and so on.

Of course, as with any reputable trading platform, Olymp Trade login also provides leveraged trading, which varies depending on the choice of a particular trading pair (both a regular currency pair and cryptocurrencies).

Usually, the difference in the preset leverage comes down to the choice of the most or less popular currency pairs. For example, for the most popular trading pairs, the leverage is usually preset at 1:30.

Various minor currency pairs such as the Canadian dollar to the Swiss franc or the New Zealand dollar to the USD have lower leverage.

Olymp Trade App

Mobile applications are now overtaking desktop applications in popularity since they are the most practical to use in comparison with their desktop counterparts.

Of course, the Olymp Trade team did not ignore this trend and the project team timely developed its own mobile application, both for IOS and Android. You can download those apps from Appstore and PlayMarket, respectively.

By the way, for the review, we also tested mobile applications and we can say with confidence that they leave Olymp Trade competitors practically no chance, due to the amazing speed and ease of use.

In terms of usability, the Olymp Trade mobile application is not much inferior to Binance Exchange or the mobile application from Kucoin or Bybit.

Those who have at least once placed limit orders or traded futures on mobile applications have already got used to the interface since it is largely identical in Olymp Trade.

Deposit/Withdrawal Methods

Olymp Trade offers many ways for both depositing funds into a trading account and withdrawing money from the platform. Methods for depositing money into the platform include:

  • Credit/debit card
  • Bank transfer
  • Cryptocurrency
  • Skrill
  • Neteller

What's nice is that there are no commissions for depositing funds to a trading account, which differs from the Binance exchange, for example, where the percentage can go up to 2.5% only for depositing fiat money to the platform from a debit card.

In addition, the minimum deposit amount is only $ 10, which will definitely delight newcomers.

There are about the same number of withdrawal methods as there are methods of depositing money on the platform, however, as a rule, the withdrawal process itself can take a little longer to process (usually in the range from 1 to 3 days). However, most of the withdrawals are completed within 1 hour or even less, as evidenced by the experience of most users of the platform.

Demo Account

Also, as with most similar online brokerage platforms, Olymp Trade offers a demo account with a virtual deposit of $ 10,000 to practice its trading skills. In practice, it is no different from a regular account, except that the money is virtual, due to which there will be much less emotional factor in your trading decisions.

We strongly recommend that you try trading on a demo account before moving on to real practice on a live trading account, especially if you are a beginner.

An additional bonus will be that to register on a demo account, you will not need a passport photo, or providing some additional identification documents, or a bank statement. Just use your email to register and you can start practicing!

Bonuses, achievements and promotions

Also, the Olymp Trade platform provides various trading bonuses for users for fulfilling various conditions. For example, the achievement of a certain trading volume over a specified time period.

“This can be one of the significant advantages of Olymp Trade since in the EU trading bonuses are actually prohibited due to additional provisions on withdrawal and difficulties with regulation. Therefore, the very fact that there are bonuses and achievements on the platform is already an excellent bonus ”.

Don't forget to use different promotional codes if you ever manage to get one! They will allow you to use the services of the platform with substantial discounts.

Among other things, Olymp Trade also serves as a kind of “educational portal” that provides many training materials and various courses in the field of financial literacy and day-trading. In our opinion, this bonus will be especially useful for newcomers to the field of trading who want to improve their skills with the help of reliable sources.

At your service are various webinars, tutorials, courses from famous trading gurus, and so on.

Differences between standard and VIP accounts

After practicing a lot in the sandbox of the demo account, users have the opportunity to try their hand at either a standard Olymp Trade account or a VIP account.

To trade on a standard account, users need to enter on the platform a minimum deposit amount of $ 10, and the minimum transaction amount will be $ 1, up to a limit of $ 2,000.

As for the withdrawal of money, the maximum withdrawal amount is not limited, but the minimum will be equal to $ 10.

The standard account offers spreads with around 1.1 pips.

As you can see, a standard account has its advantages (manifested as a minimum threshold for starting trading being considerably low, that is, anyone can start trading on the platform), and disadvantages, in the form of limits on the amount, which is limited to $ 2,000.

This drawback is devoid of a VIP account, which allows you to make transactions up to $ 5,000 + a personal VIP financial analyst who will be able to advise you, helping you build up your own personal financial strategy.

VIP account holders can also access additional training tools which are not available to standard account holders.

Overall benefits/drawbacks of Olymp Trade login platform

Benefits

Drawbacks

Platform availability

Olymp Trade can boast of high reliability, speed, and smoothness of transactions. Also, you can access Login Olymp Trade at any time of the day, from any available device, application, or web browser whatsoever.

Although, of course, the availability concerns exclusively the platform, but not the financial markets or various exchanges on which the trades take place since most of them operate within a strictly allotted time frame.

Contact Details / Customer Support

Olymp Trade technical support works around the clock and promptly resolves problems encountered by users.

As we wrote in the previous article with an analysis of another similar online broker platform - “the quality of a particular platform is largely determined by the quality of its support service”. 

In this respect, Olymp Trade is undoubtedly one of the highest quality platforms for online brokerage and binary options and derivatives trading, as its support team is at the highest level.

Did you know that Olymp Trade seems to be exceptionally popular in India? The number of various reviews and tutorials in Hindi is truly astonishing

Security of user deposits and protection against hacking

Olymp Trade was developed by leading financial analysts and the largest specialists in the IT field, so you can be sure of the safety of your funds when trading.

Verdict

Olymp Trade is a proven online brokerage trading platform for futures, binary options, and derivatives trading, operating in more than 190+ countries around the world and developed with the help of leading experts in the field of finance and IT.

It is not surprising that with such a track record and the presence of top specialists among members of the Login Olymp Trade team, this platform has earned the love and respect of a huge number of traders (both beginners and real day-trading sharks) from all over the world.

Is Olymp Trade Safe?

- we can almost shout with an astounding “yes”.

Based on our experience with the platform, we can confidently conclude that Olymp Trade is a reliable and proven online broker for trading multiple types of assets using a wide variety of instruments that can provide you with a regular income (with diligence and constant improvement of your trader qualification).

Is Olymp Trade Legal In India?

Of course it is, no doubt. Olymp Trade is legal in India, since the company has a license that allows it to provide online brokerage in several hundred countries, including India.

Olymp Trade

Multi-platform, speed of execution of transactions (without any delays), the presence of variability in the methods of depositing money into the trading account, the presence of indicators and other tools for thoughtful technical analysis and a large friendly community of traders and qualified the work of technical support combined makes the Olymp Trade platform one of the best today.

That’s it, folks.

We’ll be keeping you updated on further news regarding this project and the similar ones.