Holla! Today, we will be discussing Olymp Trade.
Olymp Trade is a full-time financial service provider that allows you to trade on fixed time and Forex Instruments.
It has over 370,000 active daily traders from 9 million registered users and processes up to $350,000 in daily withdrawals.
If you want to know if this broker is safe for you, then this post is for you. My review of Olymp Trade will answer all your questions.
Also, I have a bonus for you at the end of this post on how to trade profitably.
If you are ready, let’s check it out.
Post Summary
I want you to ride along with me very closely as I walk you through the post, so I have listed everything I will discuss here today.
Get your pen and paper and jot things down;
- Olymp Trade Overview
- Traded Instruments
- Restricted Countries
- Registration Process
- Trading Accounts
- Deposits And Withdrawal Method
- Bonuses On Olymp Trade
- Customer Support And User Interface
- Pros And Cons
- FAQ
- Conclusion
Now, Let’s dive right in.
Olymp Trade Overview
Olymp is owned and managed by Saledo Global LCC. It is located in St Vincent and Grenadines, a Caribbean Island in North America.
The company was established in 2014 and has since become one of the fastest-growing trading platforms in the world.
Trading here is seamless and lucrative.
Olymp Trade not only offers you a chance to earn but also teaches you how to. This is made possible by a team of world-class analysts.
Its users are constantly growing every day, with over 240,000 traders and up to 35,000,000 trades closed every month.
This broker has received several notable awards making it a top-flight trading platform.
It is impressive that the broker is registered under the International Financial Commission (FinaCom).
FinaCom guarantees monetary compensation of up to 20,000 Euros to any trader Olymp Trade has unfairly treated.
That’s about the company in a nutshell.
However, we’re just getting started.
Traded Instruments
All the instruments traded fall under these two trading platforms, and you can easily switch between them.
1. Fixed Time Trades
Here, you choose the direction you think the market will go (either up or down) and set the time period from 1 minute to 24 hours.
If the market goes your way, you earn up to 92% profit.
If it goes the other way, you will lose the staked capital.
Fixed-time trades used to be called Binary options or Options; however, the company does not wish to be addressed by that term.
2. Forex
In this type, there is no time limit; you choose the direction you think the market will go.
If the market goes in the direction you chose, your profit increases proportionately.
If it goes in the opposite direction, it decreases proportionately.
You can choose to close this trade whenever you want.
79 assets are currently traded on Olymp Trade. These are grouped into 5 instruments, as listed in the table below.
| S/N. | PARAMETERS | DESCRIPTION |
| 1. | Currencies | 35 currency pairs |
| 2. | Crypto Assets | 10 cryptocurrencies including Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), DASH, etc. |
| 3. | Commodities | 6 commodities, including Silver, Gold, BRENT, Platinum, Copper, Natural Gas |
| 4. | Indices | 16 in number, including DAX, Dow Jones, S&P 500, etc. |
| 5. | Stocks | 12 caches, including BMW, Facebook, and Google etc. |
Restricted Countries
Most countries from every part of the world especially Africa, Latin America and Asia (such as, Nigeria, South Africa, Brazil, India, Vietnam, Pakistan, Ukraine, etc.) are accepted by Olymp Trade.
However, users from the following countries are restricted from trading on this platform;
- UK
- USA
- Israel
- Canada
- Russia
- Australia
- Japan
Most countries from Europe are not allowed.
Registration Process
All that is required to start trading with Olymp Trade is your name, email address, and phone number.
However, once you start making big trades, you will be required to complete the KYC by sending your photo ID and proof of residency via email.
Trading Accounts
Olymp Trade offers three trading account types.
- Demo account
- Standard account
- VIP account
Demo Account
The demo account is the first account you are given when you sign up. It comes preloaded with $10,000 virtual money for you to practice with.
Note that this money cannot be withdrawn.
You can test out the platform to see if it suits you. The demo account has all the features of the Standard account.
Standard Account
Once your first deposit is made, your account becomes a standard account (real account).
Olymp Trade rewards deposit bonuses for deposits of $30 and upwards.
When you deposit $30, you will receive $33, a 10% bonus. Users receive as much as 100% on their first deposit.
I will discuss this more below.
VIP Account
If you deposit up to $2,000 and above, you automatically become a VIP trader.
The benefits include:
- Increased earning percentage
- Maximum trade amount
- Personal consultant
- Risk-free trades – this means you can trade a portion of your deposit without the risk of losing it
- Individual training
- Private webinars
- Secret strategies
- Trading signals
- Exclusive event
Deposits And Withdrawal Methods
There are over 10 deposit and withdrawal methods. This includes
- Visa and MasterCard
- AstroPay Card
- Epayments
- Neteller
- Skrill
- Bitcoins
- WebMoney
- Yandex
- FasaPay
- Qiwi Wallet etc.
Deposits are instant and at no transaction charge. Withdrawals take 1 to 5 working days.
From my experience living in Nigeria, I prefer to deposit and withdraw using e-payment wallets like Neteller and WebMoney.
I have not tried the Card deposit method on Olymp Trade.
This is because most brokers pay through the same method you use to make your deposit.
However, brokers in Nigeria tend to have issues paying with cards. To be on the safe side, I use WebMoney or Neteller.
If you are in Nigeria, you can exchange WebMoney for Naira on Instantgoldng.
You can also exchange Neteller for Bitcoin on Paybis from anywhere in the world.
The minimum deposit amount is $10, while the maximum is $5,000.
To deposit above that, you will need to contact customer support.
The minimum trade amount is $1.
Bonuses On Olymp Trade
Olymp Trade offers many bonuses to its users, ranging from 10% to 100%.
The 100% bonus is only awarded if you deposit within the first hour of registration.
The bonuses sound great, right?
Yeah! … But hold on. Some conditions apply to these bonuses
There are some conditions for the bonus to stand ;
- Bonuses can be used only if your main deposit falls to 0.
- If you order a withdrawal of any amount, all bonuses will be deducted from your account.
- You cannot withdraw bonuses, but you can withdraw the profit gained from bonuses.
- Bonuses are not loans; you do not have to pay them back.
Customer Support And User Interface
There are four major ways to contact Olymp customer support
- Online chat: This is the fastest medium. Although the 15-seconds waiting time is stated on the website, I was answered almost immediately when I contacted Customer Support.
- Hotlines: There are two hotlines, one in Argentina and the other in South Africa. These are available 24/7
- Email support
All these can be found on the Olymp Trade Support page.
The user interface is set up in a simple and easy-to-understand layout. An average person can get familiar with it in a few minutes.
The navigation and trading assets are to the left, the trading buttons to the right and the chart at the center.
There are also 86 educational materials and videos to teach you how to trade. If you are seriously considering fixed-time trading, please go through these tutorials.
Responsiveness – Olymp Trade Apps
In addition to the web platforms, this broker has apps for all the major devices, including iOS, Android, MacOS, and Windows.
Apps respond much quicker during trades and thus are preferable.
Note that mobile apps are not as sophisticated as the desktop apps and Web platform
Pros And Cons
Just like every other trading platform, this broker has its ups and downs;
Pros
- It has a Demo Account.
- Deposit Bonuses are available
- Ease to Use interface
- Active Customer Support
Cons
- Not Available in EU, US, and Canada
- Withdrawal may take up to 5 days
Frequently Asked Questions
I have been trading on Olymp Trade for some years now.
Based on my experience, I will tell you that Olymp Trade is not a scam broker because of the following reasons;
– It’s registered under the International Financial Commission (FinaCom). FinaCom Prides itself on certifying only honest, transparent, and reputable companies with a high quality of service.
– If Olymp Trade is found guilty of unfair treatment, you will be rewarded 20,000 euros, while Olymp Trade risks losing its certification.
I have attended various Trading forums discussing Olymp Trade, and there are both positive reviews and negative ones.
One of the negative comments is losing money. Trading is risky; it requires skills.
You should test out the system using the demo account and go through the tutorials before putting in your money.
Since being certified by FinaCom, Olymp Trade has won 6 awards between 2016 and 2018. Here are are some;
– Best Fixed Time Trade Broker ( Forex Expo 2017)
– Fastest Growing Broker ( ShowFx World 2016)
– Best Financial Broker (CPA Life Awards 2017)
– Best Options Trading Platform (Le Fonti 2018)
One of the world’s top Rugby players in South Africa (Eben Etzbeth) is in partnership with Olymp Trade.
The company supports the LCR Honda Team at MotoGP 2020.
Your profit directly depends on the following;
The standard return percentage on the invested amount is 100%.
The return rate determines the extent of profit. The higher the return rate, the higher your profit.
If the number of sellers is over-weighted than the number of buyers, the company cuts the profitability for the out of balance asset.
But in any case, your 100% profit from successful trades will be paid in full.
Conclusion
From my Olymp Trade Review above, you can see that this broker takes its business seriously. Since its certification in 2016, It has won 6 notable awards.
The speed at which its customer support responds is exceptional; there is practically no waiting time.
The deposit bonus is another feature that makes it stand out because no other top brokers do this.
Another outstanding feature is the number of analytical and tutorial tools available. You cannot find this number in any other broker.
If you are considering fixed-time trades or Forex, this platform is one of the best.
Do you have any experience in Forex trading?
What are your best winning strategies?
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Thanks!
Risk Warning
Trading Options carries a high-risk level. You cannot really predict the direction of the market this can work both to your advantage and disadvantage. As a result, Options may not be suitable for all investors because it is possible to lose all of your invested capital. You should never invest money that you cannot afford to lose. Before trading, please ensure you understand the risks involved.
Also, Read;
- Binary Options Explained- The Ultimate Guide + Vital Trading Tips
- 4 Outstanding Differences Between Binary Options And Smart Options
- 5 Best Binary Option Trading Platforms In Nigeria
- Expert Option Review 2020- 1 Important Thing You Need To Know
- IQ Options Review 2020- All You Need To Know Before Signing Up
I paid attention to this broker mainly because so many people mentioned it. I’m not one of those guys who measure thousand times and then only do a small cut. Come on, the depo is only 10 bucks here, what are the risks?
Hello Danjuma, the only risk there is that trading options does not guarantee you profits. The market can take any turn.
I like FTT more because it is more dynamic trading and I can make good money.
Of course, for this you need to develop a strategy and not trade on emotions.
To make money on FTT with Olymp Trade is possible and very good. But most of the newbies, seeing what sums are on the deposits of experienced traders, begin to imagine that everything is easy and simple. Everything is a little bit different. To start earning in this area, you need a lot of practice, and you need to know (necessarily) what are “Candlesticks”, “Levels”, and the patterns of these candlesticks. In general, I can advise people who have recently learned about this subject to open a demo account. I started with it.
I think that after six months to a year you will have good results. My profit here is very good.
Interested to know what you like better, FTT or forex?
I often read reviews on Olymp Trade and I can say that it is a revelation every time, as the company is constantly changing and adapting to changing market conditions.
What will always be meaningful to me is that the company gives unlimited access to demo, because this is the most productive tool for adapting to the market without risk.
Well, I believe that traders should dedicate as much time as they can to the process of choosing a broker, because brokers matter even more than your further steps in trading activity. You face this process on your very initial stages in trading and it’s like a preparation for further difficulties in trading.
Nevertheless, if you pay attention to this broker, then you will notice that everything is in harmony here. There are plenty of trading instruments, such as currencies, indices, stocks and many other tools. It lets you to have a choice, you can determine which asset is the most preferable for your and start trading actually. Moreover, there is an educational center, where you can gain basic knowledge in trading.
I came to the broker solely to trade fixed-time. Earlier I traded Forex, but the more I explored fixe-time the more I wanted to shift to it from Forex. Some folks criticize fixed-time for expiration. I can argue they can’t use it. It’s possible to even trade in the long term with expiration. I’m already doing this.
If we talk about the current time, trading with a smartphone is the largest and most desirable audience for brokers. That’s why all serious companies are trying to provide the opportunity to trade from a smartphone. And Olymp Trade broker is no exception to this rule.
By the way, the mobile application from Olymp Trade was named the best mobile trading app. I think this was well-deserved because the app has a great design with an intuitive interface. At a glance, it’s easy to find one function or another.
About your question about FTT, my answer would be yes. There are three types of modes available to users, from which you can choose FTT (Fixed Time Trading), FX (Forex Trading) or SPT (Stock Price Trading).
I have always found it interesting to trade CFDs. Luckily for me, I opened an account with Olymp Trade broker. This is my chance. I liked that trading could be easier because it has an interesting FTT trading method.
Please tell me I can trade Olymp Trade FTT with my smartphone? Maybe there is some kind of mobile application?
Hello Adesina,
Yes, the mobile application is available for Android and iOS.
Visit your Playstore or Appstore to download.
It’s a very interesting broker for me
I heard that this brokerage company is associated with fixed-time trading first. However, once I tried to trade on its real account, it became obvious for me that it’s more valuable to trade Forex. Fixed-time trading is a chaotic thing for me. To some extent I can trade fixed-time with a large expiration period, but this expiration restricts my freedom. Instead, I prefer to trade Forex.
In this regard, the broker is very attractive. You have a possibility to trade fixed amounts instead of risking the entire depo. It teaches you to measure the level of risk, which is a very useful quality for any trader.
I perceive this broker as a Forex one. I do neglect fixed-time trading because it’s nonsense in my understanding, while Forex trading is quite favorable here. The broker made it possible to trade without spreads. Besides this, you can set detailed parameters for each trade, including a fixed amount that will act as a lot size and a multiplier value that stands for a leverage size.
Yes, I also trade with the Olymp Trade broker. Sometimes forex, sometimes FTT with a mobile app and more often than not I trade gold and bitcoin. I advise you to try trading these assets too!
I am a beginner trader, but already experienced) I recommend Olymp Trade to all novice traders. Everyone has free access to improve their skills and I also want to draw your attention to free training. Olymp Trade will provide you not only with instructions for working with a specific broker, but will give you access to a large amount of very informative material on trading and forex. A demo account is also available, which will allow you to freely practice your acquired knowledge. Personally, I have been working with the broker for several months, not taking into account the time of the platform test. So far, everything suits me. Interested in what trading instruments the company provides, besides currency trading?
Thank you for the work done and the review of the OlympTrade broker.
Yes, I agree that Olymp Trade is an excellent broker for Forex trading. The withdrawal process has two advantages. The first is super fast withdrawal. Second, there is no commission. Why I think Olymp is really different from other brokers – it’s a user-friendly web platform. It is built on the principles of intuitive design. Highly recommended for traders who love comfort. To avoid misunderstandings, it is recommended to go through full verification before making a deposit.
Both the mobile and web-platform have certain specific features, but their functions are basically the same. You merely have to consider that mobile phones have different management principles, plus the screen is way smaller, so the platform looks overall different. However, all the things you do on the web-platform are easily performed on the mobile one.
The most important difference between the PC and mobile platforms that I’ve noticed is the limited number of indicators used simultaneously. For instance, the mobile platform allows a maximum of 5. But who actually uses more than five indicators at once?:) Personally for me, that’s quite enough.
So I’m pretty fine with the mobile platform. In fact, I trade on it more often than on PC. But in my opinion, both platforms are equally good – that’s just a matter of preference.
I would like to give my honest review on this platform since I’ve been their client for a long time.
The user interface is simple, almost every person can get familiar with it in a few minutes.
Deposits are instant and at no transaction charge. However, withdrawal may take up to 5 days.
Most countries from the world are accepted.
There are lots of ways to contact customer support. You can even contact them via phone.
Yet, guys, trading requires discipline. Don’t even strart if you can’t keep emotions under control.
A very interesting Forex broker.
There are several features that make this broker unique. But I should stress from the very beginning that I’m not impressed by fixed-time trading. It’s because it doesn’t allow me to trade the way I got used to. Unfortunately, expiration isn’t psychologically compatible with me. I’m a Forex trader and can’t imagine another way of trading.
Fortunately, Olymp strives to make trading Forex a very convenient thing. You can choose between trading on MT4 and their web platform. Perhaps, it makes no sense to talk about Metatrader 4 because here is everything clear. But trading Forex on the web platform may surprise you. Here you can choose leverage for each trade. To do this, you need to choose a multiplier value. Besides this, you can’t trade using the whole depo here. Intead, you are expected to choose a fixed amount for each trading position. As you see, this system allows to control risks much better compared to what you can do on Metatrader.
I’ve been tading with Olymp Trade for a while now but I didn’t know it’s regulated by FinaCom. That’s a piece of excellent news. Now I’ll be able to recommend the brokerage to friends without any doubts, as, franky speaking, I had some before I read this Olymp Trade review.
Its easy to manage and take responsibility for your own money. HOwever, if you recommend a brokerge to somebody else youj want to be sure that their funds re REALLY safe. The fact that FinaCOM provides funds protection really is a relief.
I can confirm that the brokerage is fun and profitable to trade with. As I said I’ve been trading with them for a while so I can make this judgement.
That’s a really unique broker
My acquaintance with this broker was a pleasant and unique experience. That’s the first company that showed me something I have never seen before. That’s fixed-time trading. I read about it on the site, tested this type of trading on a demo account and it impressed me. So, I had to spend several days viewing extra materials on the subject. I will keep exploring fixed-time trading. I need to learn more trading strategies that fit this specific type of trading, but at least, it’s not boring. It reminds me of my acquaintance with Forex.
I’m personally glad to find this broker. With a three-year experience of working in the foreign exchange market, I’m still open for new things in trading. So, I’m currently taking a look at fixed-time trading with great curiosity. What I saw in their web terminal on a demo account interests me, however, I should confess that I haven’t got used to expiration yet. As for their Forex trading mode, I appreciate how Olymp delivers. I can choose between their user-friendly web platform and old tried and tested Metatrader 4.
i actually had similar issues with this Stop loss thing but after i took a course with babypips.com i
now have an edge in that aspect.
Now stop loss is actually a tools that closes your position( trade you opened) when your trade is going against you. Like you buying and price begins to go way down now the stop loss actually helps you close that trade. A stop loss is actually set a few pips away from your open price and it can be set before or after you open a trade( modification)
Take profit is the opposite of stop loss as it is your profit target for the trade you open the trade is also closed when that target is met. Eg. when you buy and trade keeps going higher it closes when your profit target is met.
You can learn to use the stop loss & take profit on YouTube decisive trading and the secret mindset is a good lookout.
i hope this little explanation works out for you the way it ought