Olymp Trade is an online broker that’s been offering digital options and foreign currency trading since 2014. This broker is regulated from the IFC and has over 25,000 traders utilizing their platform everyday.
But tend to this binary options broker actually be trusted or is it only a scam? Continue scanning this Olymp Trade review to learn reality.
Trading Platform
Olymp is easy to navigate and intensely user-friendly. System looks and also organized, with links which make it no problem finding what you deserve for. You have access to Olymp Trade three various ways.
1. Their main website
2. A desktop application (available for both Windows and Mac)
3. Phone application (either way Android and iOS)
Being able to view your trades everywhere you go using a phone app is quite convenient. This is particularly considering the site concentrates on fast, short-term trades. Their mobile app is responsive and it has precisely the same capabilities of the desktop and web version. Basically, trading off their phones are not missing out.
The Olymp Trade web site is very straightforward, revealing just what you should track your trades and become successful. They present an obvious, clear and understandable trade chart on the main page. You will see the timing and amounts alongside the chart, so that it is an easy task to immediately understand. You can even customize the charts by choosing the type of graph and color. On the bottom in the page, there exists information about open and closed trades and also a help chat. The look allows users to find out only what they need within a simple and easy clear presentation.
Countries and Availability
Olymp Trade isn’t supported in america, Australia, Canada, EU, UK, Japan, or Israel. Olymp Trade can be an international broker service obtainable in the subsequent 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 subsequent languages:
• English
• Spanish
• Arabic
• Chinese
• Thai
• Vietnamese
• Portuguese
• Malay
• Indonesian
• Hindi
Beginner Friendly
The most unique areas of Olymp Trade is its target education for beginner traders. They may be adamant about trading not merely being for professionals, but as an readily available income or hobby for anyone. Their free educational training focuses on teaching strategy-based trading. Help familiarize users with the world of finance and ways to think just like a trader. Members have accessibility to education available as:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They even offer courses tailored towards experienced traders. More complex classes focus on analyst webinars. These teach essentials including managing capital and trading approaches for the current market.
Another feature of Olymp Trade that makes it offered for beginners is their low deposits. The minimum deposit is defined at $10, and the minimum trade amount is $1. First time traders do not have to be worried about losing a sizable investment. They can make safe trades until they think convenient.
Short Term Trades
Olymp Trade concentrates on short-term trades. These positions could be held at as short as 15 seconds to a few hours. The platform allows traders to select a particular expiration time. This gives users with additional hold over their trade. They may also cancel a losing trade at any time. These improvements help beginning traders to obtain their foot in the door.
Free Demo
As well as training materials, Olymp Trade offers free demo accounts. Whenever you register, you receive use of 10,000 virtual coins to experience around with. In this way, you don’t risk losing any of your real cash whilst getting on the learning curve. The demo account can be another valuable feature for experienced traders to obtain a feel for the interface. You can observe whether it is best for your needs without needing to invest real currency.
Varieties of Accounts
Following your initial demo account, there’s two different options for accounts. You can test these out when you are able to start investing real cash.
Standard
To open an ordinary account, you will need to deposit a minimum of $10. Yes, this is the minimal minimum. Investors can trade at the least $1 plus a more $2,000. The minimum amount for withdrawal is $10, and there’s no maximum. You are able to only make one withdrawal for day. Withdrawals take around 3 days to process.
VIP
Being eligible for a VIP account, you should deposit a minimum of $2,000. This account provides additional benefits the conventional account doesn’t offer. The VIP account ups your maximum trading add up to $5,000. Another huge benefit is use of a VIP consultant. VIP consultants are leading, experienced financial analysts. And also this opens the door to additional tools to assistance with your education and understanding of trading.
Security and Regulation
Prior to buying a options broker, one of your main concerns should be their security. You shouldn’t invest your cash with a site that you don’t feel safe. In February of 2016, Olymp Trade became an A-recognized part of the International Financial Commision (FinaCom). FinaCom can be an organization that secures investors. When you use a platform secured by FinaCom, any unlawful acts are handled by approximately $20,000.
It’s also imperative that you look for well-established platforms. Olymp Trade has around 25,000 people trading each day and 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 Trading options Platform – Le Fonti 2018
Assets
Experienced traders might find the number of assets limiting. However, it is convenient and never overwhelming for all those getting their feet wet in the realm of trading. It can be your choice if you wish to target one particular asset or choose an entire 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 through the following methods:
• Credit and atm cards
• Bank wire transfer
• E-payments such as Skrill and Neteller
• Cryptocurrency such as Bitcoin
Depositing is free of charge with no extra charges, with the minimum deposit being $10. This makes the site readily available to everyone as well as a good starting point for starters. Funds deposit relatively fast, but wire transfers harder than other methods. Cryptocurrency has a tendency to deposit the fastest.
Withdrawals
The most withdrawal amount depends upon regardless of whether you use a VIP or standard account, using the minimum always remaining at $10. Your funds go returning to whatever payment method you utilized to deposit the bucks. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take A day to three days for traditional investors. It takes merely a couple of hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed difficulty with withdrawing their own. Many of these issues could be resolved if one makes sure your is fully verified. This simply involves having all of 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 should be from your shoulders up and completely visible.
2. If you’re using a credit or debit card, you should scan the credit card you are using. The name, first 6 and last 4 digits has to be visible. You only need to upload leading from the card not the rear.
3. If you use a digital wallet (ex. Skrill), an image of your electronic digital purse is needed.
Trade Types and Payouts
Many organizations offer 6 or 7 trading options like one touch, long-term, ladders, and call/put options. Olymp Trade only offers high/low trading. High/low trading expiry times are limited to some maximum of 24 hours and so are ideal for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer care
Customer support is available 24/7 via email, live chat, or phone. With a VIP account, your customer service experience is even more phenomenal. Partly, this is because Olymp Trade is backed up by FinaCom. If they do not resolve a problem after Fourteen days, you can file a dispute with FinaCom. Customer care is usually fast to solve any troubles before it grows to this aspect.
Olymp Trade Review Conclusion – Conclusions
Experienced investors might be disappointed together with the deficiency of assets and trading options. However, Olymp Trade could always be an expedient alternative for someone looking for binary trading with mobile options. The interface was made with first time traders in your mind, slacking to formulate education plus an immersive demo. The limited options makes it less intimidating for newbies to leap into trading. Even the uncluttered, simple design and low deposit requirements allow it to be a nice-looking option for anyone wanting to get into trading.
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