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’ve already tried this platform on a demo account. I find it very interesting, although I need some time to get used to it because it offers a different approach to money management. Here I’m expected to trade fixed amounts on Forex. It’s not easy to choose the right fixed amount to survive a probable pullback. Well, I already understand something, but I need more practice.
I want to ask. I heard it’s possible to trade fixed-time here. Where can I find it on the platform?
You can reach out to the Support Team to help you with that.
I rarely read such articles, as in fact I see no sense in them. However, this one grabbed my attention because of the broker it describes. Olymp Trade is my primary broker (by the way it was a secondary one back in the days). I trade here for several years and face no problems.
Sometimes, maybe, there are difficulties with communication with customer support, because they are pretty busy, but it’s a minor thing.
I like this broker. For some reason I didn’t hear about it before or I was misled about it. Now I practice fixed-time trading here. It has many advantages over classical Forex trading.
Olymp Trade has a very nice branded trading platform. The interface is smooth and user-friendly and platform is beowser-based, which is very handy. Moreover it has three trading modes: Forex, Stocks and FTT, so everyone can find something for themselves.
this broker suits me one hundred percent! i am comfortable and easy to use trading platform!
The amount of assets doesn’t really surprise me, but the fact that you can trade them without any freezes on the platform wonders me for real.
Some traders don’t care about it, but it matters for me a lot. Olymp Trade optimized its platform better than other brokers and it’s a fact.
Olymp trade platform is available in all iterations imaginable. Desktop app is one of them surely. It’s the main tool for traders, although I can’t say on behalf of all traders, it’s the main trading tool for me. I use it on a daily basis. The whole concept of the olymp trade platform when it’s a trading platform plus personal area is amazing. No need to manage a separate account, just do everything with the olymp platform. You can even deposit or withdraw money in it. How convenient is that?!
By the way, I like mobile app too. Very valuable piece of software. Basically with it you can stay in the market everywhere.
customer support team here works on full. I wonder how did olymp trade manage to create such a customer support, which is responsive and polite.
sometimes, I have difficulties with various features, like bonuses for example, but it doesn’t really matter.
So I have been trading with Olymp trade for about half a year now and everything is just fine. I really like the branded trading platform for its intuitive and user friendly interface. I use mobile app also when I’m on the go. But when I’m working via PC I prefer the desktop platforms. So I would like to know if there is a desktop version for branded trading platform?
Hello Kuhan,
You can reach out to the Support Team to find out.
Thank you.
Olymp Trade has excellent asset selection to trade. With this selection, I can always find entry point. Of course, every financial instrument has its own peculiarities. I consider it in my strategy.
Some traders aren’t surprised by the amount of trading instruments, but I am surprised. 79 assets for trading, lol, you can trade various instruments during almost 2.5 months without repeats. It’s quite good.
Nevertheless, I gotta assess the platform, yeah? That’s right. All the brokers have their own pros and cons obviously, but here I haven’t find any serious cons yet. Maybe there are no such ones, but I don’t believe. Traders have to be vigilant when they trade with particular brokers, because the behavior of the broker directly reflects its atittude to traders.
Here everything is okay and run like a clockwork.
Olymp trade offers a huge variety of trading instruments actually. There are tools for both short-term traders and long-term investors. If you are fond of investing, then there are news, economic calendars and other things.
If you are, like me, a true intraday trader, then the surplus of indicators on the platform will surprise you I bet. There are several types of oscillators, all the types of moving average indicator and various instruments for drawing on the graphic.
In addition, I’d note quite democratic conditions on depositing and withdrawing money, btw, the processes are pretty quick without any delays. If there are delays – then apply to your bank, because as a rule all the money are delayed by financial services.
Just wanna warn you, cuz’ once I had a small talk with customer support on this matter and they submitted the fact of money delay from the bank.
TY for review. I developed such a strategy where I don’t care whether it’s forex or fixed time trading. I make profit with olymp.
I trade with olymp for 4 years and now its time to say all i think about this broker. I came here with strong idea to become a good trader. I explored everything from education and research platforms, till demo account, indicators, oscillators and trading tools.
It takes a lot of time but its worth of it, because now i have money freedom and more time to spend on investing and trading.
Olymp trade has open and clear registration, regulation and licensing.
Company audited by financial commission and has A category with 20k$ money fund insurance for clients.
Olymp’s trading platform is user friendly and has all needed technical tools. Charts are well designed and comfortable to use drawing tools.
I feel fine trading here.
im satisfied with the condition that olymp provides. since covid 19 started trading became what helps me to survive. even being far away from my home place i can easily take my money from account and use it for goods and services around. what a unique time we live in!
my friends often asking me about how to trade and so on, but they are not ready to start with big deposit. is it still possible to use some welcome bonuses or referal links for them?
Hey Peter, you can try that if you want.
I have decent experience trading with olymp. The broker is mainly known for its customer service and strong traders’ community. It’s a plus, for sure. For me, the most important thing is the competitive quotes. The broker doesnt have a spread but has a substantial commission. The Forex section has the most common assets to trade which are pretty the same among other brokers. In this case, additional features are usually influential—for example, a status system giving extra functionality. Now, being an acrive trader, I usually have the Expert one. With this status I have 20% discount for forex commission.
multiplicators are really cool. I tried to calculate profits with classical leverages and multiplicators and came to the conclusion that it’s much easier to calculate profits with mults rather than with leverage.
Nevertheless, I would point that not everything is so cool as I describe. Bonus system seems to me pretty strange. I couldn’t understand how o interact with these bonuses and that’s why I thought that I would stay away of the idea trading with bonuses.
What you have to control here is the order size and leverage.
The leverage here is in the range up to 1:500, which is a big plus of course, but you should be careful.
Trading currency pairs seemed like a very hard job to me, but when I saw the statistics on the Internet, I thought.
There were more brokers and traders … many boasted about their earnings, and I thought that they were no worse than other people.
Since the most popular broker on the Internet was and is Olymp Trade, I chose to trade here .. it’s logical .. agree?
So, I’m trading now on a demo account and I want to know how much capital I need in order to start earning real money here??
Thanks in advance for ur answer!
Hello Alade,
The minimum deposit amount is $10. Anything higher than this will fetch you something depending on how much you are willing to invest.
As always, the trading rule still stands: do not invest more than you can afford to lose.
I often go out of town, so I often don’t have an access to my computer. It’s cool that this broker offers mobile applications, which are easy to use.