Olymp Trade can be an online broker that has been offering digital options and currency trading since 2014. This broker is regulated with the IFC and has over 25,000 traders employing their platform everyday.
But could this binary options broker sometimes be trusted or are they only a scam? Continue reading this article Olymp Trade review to discover the facts.
Trading Platform
Olymp is easy to navigate and intensely user-friendly. The platform looks clean and organized, with links that make it easy to find what you are looking for. You can access Olymp Trade three different methods.
1. Their main website
2. A desktop application (intended for both Windows and Mac)
3. Phone application (either way Android and iOS)
Getting at your trades everywhere you look via a phone app is quite convenient. Almost all of the thinking about the site focuses on fast, short-term trades. Their mobile app is responsive and contains the same capabilities in the desktop and web version. To put it differently, trading from other phones are not really missing out.
The Olymp Trade website is very straightforward, revealing precisely what you need to track your trades and stay successful. They present an obvious, clear and understandable trade chart about the main page. You can view the timing and amounts alongside the chart, making it very easy to immediately understand. It’s also possible to customize the charts by selecting the type of graph and color. At the base in the page, there’s info on open and closed trades plus a help chat. The design allows users to determine only what they already want inside a simple and clear presentation.
Countries and Availability
Olymp Trade isn’t supported in the usa, Australia, Canada, EU, UK, Japan, or Israel. Olymp Trade is an international broker service available in the following regions:
• India
• Pakistan
• Middle East
• North Africa
• Latin America
• Southeast Asia
To adjust to the demands of their large international market Olymp Trade comes in the subsequent languages:
• English
• Spanish
• Arabic
• Chinese
• Thai
• Vietnamese
• Portuguese
• Malay
• Indonesian
• Hindi
Beginner Friendly
The most unique aspects of Olymp Trade is its focus on education for beginner traders. They may be adamant about trading not simply being for professionals, but because an easy to get to income or hobby for anyone. Their free educational training is targeted on teaching strategy-based trading. They assist familiarize users together with the world of finance and how to think just like a trader. Members have access to education available as:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They even can offer courses tailored towards experienced traders. More advanced classes concentrate on analyst webinars. These teach essentials including managing capital and trading approaches for the existing market.
Another feature of Olymp Trade that means it is available for beginners could be the low deposits. The minimum deposit is placed at $10, and also the minimum trade amount is $1. Newbies don’t have to concern yourself with losing a large investment. They can make safe trades until they are much more comfortable.
Short-term Trades
Olymp Trade focuses on short-term trades. These positions can be held at as short as 15 seconds to three hours. The working platform allows traders to select a certain expiration time. This provides users with additional hold over their trade. Glowing cancel a losing trade at any time. These unique features permit beginning traders to get their foot in the door.
Free Demo
As well as training materials, Olymp Trade offers free practise accounts. Whenever you register, you get entry to 10,000 virtual coins to learn around with. Using this method, you don’t risk losing any of your a real income whilst getting over the learning curve. The demo account is also a valuable feature for knowledgeable traders to obtain a sense of the interface. You can observe if it is best for you without having to invest real currency.
Types of Accounts
After the initial demo account, there are 2 different alternatives for accounts. You can look at these out once you are willing to start investing real money.
Standard
To open up an ordinary account, you need to deposit a minimum of $10. Yes, it is a suprisingly 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’s no maximum. You can only make one withdrawal for day. Withdrawals take around 72 hours to process.
VIP
To become eligible for a VIP account, you need to deposit at least $2,000. This account provides additional benefits the common account doesn’t offer. The VIP account ups your maximum trading figure 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 comprehension of trading.
Security and Regulation
Prior to buying a options broker, one of the main concerns must be their security. You must never invest your money having a site where you don’t feel safe. In February of 2016, Olymp Trade became an A-recognized part of the International Financial Commision (FinaCom). FinaCom is surely an organization that secures investors. When utilizing a platform secured by FinaCom, any unlawful acts are covered by approximately $20,000.
It is usually crucial that you search for well-established platforms. Olymp Trade has around 25,000 people trading each day along with a $171 million monthly turnover. They have also won numerous accolades including:
• Fastest Growing Broker – ShowFx World 2016
• Best Options Broker – Forex Expo 2017
• Best Financial Broker – CPA Life Awards 2017
• Best Trading options Platform – Le Fonti 2018
Assets
Experienced traders might find the number of assets limiting. However, it’s convenient instead of overwhelming for all those getting their feet wet in the arena of trading. It really is your responsibility if you want to target one particular asset or choose a full 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 through the following methods:
• Credit and atm cards
• Bank wire transfer
• E-payments such as Skrill and Neteller
• Cryptocurrency like Bitcoin
Depositing is free without extra charges, together with the minimum deposit being $10. This makes the web page easy to get to to everyone along with a starting point for novices. Funds deposit relatively fast, but wire transfers harder than other methods. Cryptocurrency will deposit the fastest.
Withdrawals
The absolute maximum withdrawal amount depends upon regardless of whether you possess a VIP or standard account, together with the minimum always remaining at $10. Your funds go time for whatever payment method you accustomed to deposit the amount of money. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take A day to three days for traditional investors. It takes only some hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed difficulties with withdrawing their funds. Most of these issues may be resolved if someone makes sure your account is fully verified. This simply involves having your required private information on record. The subsequent steps have to verify your bank account and commence receiving payouts.
1. Uploading photo identification from an ID or passport. The photo should be from the shoulders up and completely visible.
2. If you’re using a credit or debit card, you need to scan the credit card that you will be using. The name, first 6 and last 4 digits has to be visible. You only need to upload the leading of the card not a corner.
3. If you are using a digital wallet (ex. Skrill), a photo of the electronic digital purse is necessary.
Trade Types and Payouts
Many organisations offer 6 or 7 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 with a maximum of Twenty four hours and are well suited for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer satisfaction
Customer care can be acquired 24/7 via email, live chat, or phone. Having a VIP account, your customer support experience is even more phenomenal. To some extent, it is because Olymp Trade is maintained by FinaCom. Whenever they usually do not resolve an issue after Fourteen days, it is possible to file a dispute with FinaCom. Customer satisfaction is normally fast to resolve any challenges before it reaches this time.
Olymp Trade Review Conclusion – Final Thoughts
Experienced investors could be disappointed together with the insufficient assets and trading options. However, Olymp Trade could always be a handy choice for someone seeking binary trading with mobile options. The interface was created with newbies planned, spending time to develop education as well as an immersive demo. The limited options causes it to be less intimidating for newbies to jump into trading. Even the uncluttered, simple design and low deposit requirements ensure it is a beautiful option for anyone seeking to get into trading.
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