Olymp Trade can be an online broker that’s been offering digital options and forex currency trading since 2014. This broker is regulated through the IFC and possesses over 25,000 traders employing their platform everyday.
But sometimes this options broker really be trusted or could they be merely a scam? Continue looking over this Olymp Trade review to determine the facts.
Trading Platform
Olymp is easy to navigate and extremely user-friendly. The platform looks clean and organized, with links making it simple to find what you deserve for. You can get Olymp Trade three other 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 view your trades everywhere you look by way of a phone app is quite convenient. Many of the with the site specializes in fast, short-term trades. Their mobile app is responsive and possesses the same capabilities from the desktop and web version. Quite simply, trading using their phones usually are not missing out.
The Olymp Trade website is very straightforward, demonstrating precisely what you should track your trades and become successful. They present a specific, clear and understandable trade chart for the main page. You will see the timing and amounts plus the chart, so that it is simple to immediately understand. It’s also possible to customize the charts by selecting the graph and color. On the bottom of the page, there’s information about open and closed trades and also a help chat. The structure makes it easy for users to view only what they already want in a easy and clear presentation.
Countries and Availability
Olymp Trade is not supported in the us, Australia, Canada, EU, UK, Japan, or Israel. Olymp Trade is surely an international broker service available in these regions:
• India
• Pakistan
• Middle East
• North Africa
• Latin America
• Southeast Asia
To adjust to the requirements of their large international market Olymp Trade is available in the next languages:
• English
• Spanish
• Arabic
• Chinese
• Thai
• Vietnamese
• Portuguese
• Malay
• Indonesian
• Hindi
Beginner Friendly
One of the most unique elements of Olymp Trade is its focus on education for beginner traders. They may be adamant about trading not only being for professionals, but as an easy to get to income or hobby for anybody. Their free educational training targets teaching strategy-based trading. They assist familiarize users with the realm of finance and how to think as being a trader. Members get access to education available as:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They will offer courses tailored towards experienced traders. Higher classes target analyst webinars. These teach essentials including managing capital and trading approaches for the present market.
Another feature of Olymp Trade that makes it offered for beginners could be the low deposits. The minimum deposit is set at $10, and also the minimum trade amount is $1. Newbies need not worry about losing a sizable investment. They can make safe trades until they are more comfortable.
Short-term Trades
Olymp Trade is targeted on short-term trades. These positions can be held as short as 15 seconds to three hours. The working platform allows traders to choose a certain expiration time. This offers users with additional hold over their trade. They may also cancel a losing trade anytime. These unique features make it easy for beginning traders to acquire their grip.
Free Demo
Together with training materials, Olymp Trade offers free practise accounts. When you register, you get access to 10,000 virtual coins to experience around with. In this way, you don’t risk losing many a real income while getting over the learning curve. The demo account is a valuable feature for knowledgeable traders to get a sense of the interface. You will see if it is best for your needs and never have to invest real currency.
Kinds of Accounts
After the initial demo account, there are two different alternatives for accounts. You can look at these out when you are able to start investing a real income.
Standard
To spread out a regular account, you have to deposit at least $10. Yes, this can be a very low minimum. Investors can trade at the least $1 plus a more $2,000. The minimum amount for withdrawal is $10, and there isn’t any maximum. It is possible to only make one withdrawal for day. Withdrawals take around 3 days to process.
VIP
To be entitled to a VIP account, you have to deposit at the very least $2,000. This account provides additional benefits the typical account won’t offer. The VIP account ups your maximum trading add up to $5,000. Another huge benefit is access to a VIP consultant. VIP consultants are leading, experienced financial analysts. This also paves the way to additional tools to assist in your education and comprehension of trading.
Security and Regulation
Before choosing a binary options broker, your main concerns should be their security. You must not invest your money using a site that you usually do not feel safe. In February of 2016, Olymp Trade became an A-recognized part of the International Financial Commision (FinaCom). FinaCom is definitely an organization that secures investors. When working with a platform secured by FinaCom, any unlawful acts are addressed by up to $20,000.
Additionally it is imperative that you look for well-established platforms. Olymp Trade has around 25,000 people trading daily along with 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 volume of assets limiting. However, it is convenient instead of overwhelming for those getting their feet wet in the arena of trading. It’s your choice if you need to give attention to just one asset or choose a complete 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 via the following methods:
• Credit and debit cards
• Bank wire transfer
• E-payments such as Skrill and Neteller
• Cryptocurrency like Bitcoin
Depositing is free without having extra charges, with all the minimum deposit being $10. As a result the site easy to get to to every one along with a good starting point for newbies. Funds deposit relatively fast, but wire transfers take longer than other methods. Cryptocurrency will deposit the easiest.
Withdrawals
The maximum withdrawal amount depends on regardless of whether you use a VIP or standard account, with all the minimum always remaining at $10. Your funds go returning to whatever payment method you used to deposit the amount of money. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take One day to a few days for traditional investors. It takes only several hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed problems with withdrawing their own. These types of issues can be resolved if one makes sure your bank account is fully verified. This simply involves having all your required personal data on file. The subsequent steps have to verify your money and commence receiving payouts.
1. Uploading photo identification from an ID or passport. The photo must be out of your shoulders up and completely visible.
2. If you use a debit or credit card, you’ll want to scan the card you will be using. The name, first 6 and last 4 digits must be visible. You simply need to upload leading in the card not a corner.
3. If you use a digital wallet (ex. Skrill), an image of your electric purse is essential.
Trade Types and Payouts
A lot of companies offer 6 trading options such as one touch, long-term, ladders, and call/put options. Olymp Trade only offers high/low trading. High/low trading expiry times are restricted with a more 24 hours and so are perfect 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 care experience is even more phenomenal. Simply, the reason being Olymp Trade is maintained by FinaCom. Should they tend not to resolve a concern after 2 weeks, you can file a dispute with FinaCom. Customer care is usually fast to settle any challenges before it reaches this aspect.
Olymp Trade Review Conclusion – Summary
Experienced investors could be disappointed with the not enough assets and trading options. However, Olymp Trade could nevertheless be a convenient option for someone trying to find binary trading with mobile options. The interface was created with new traders in mind, spending some time to build up education and an immersive demo. The limited options can make it less intimidating for starters to leap into trading. The uncluttered, simple design and low deposit requirements make it a beautiful alternative for anyone seeking to get into trading.
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