Olymp Trade Review 2020

Olymp Trade can be described as a multi-asset online trading platform which is owned by Saledo Global LLC, and registered at St Vincent Bank limited building, James Street Kingstown. Olymp Trade was established in the year 2014 and has quickly progressed. There are several millions of users using the online portal to trade every day. It offers FTT (fixed time trade) and Forex trading. This platform is unique from other platforms and they offer a wide range of assets for its users.

Olymp Trade Review - Multi-asset Trading Platform
Olymp Trade Review – Multi-asset Trading Platform

What is Olymp Trade?

  • Olymp Trade can be described as an established broker that was launched a few years back. It is certified by FinaCom, and is trusted by traders around the world. They have an easy to use portal and several educational resources which are available in 12 languages.
  • As per our Olymp Trade review, every day more than 25,000 users are trading on the Olymp Trade platform. It has more than $171 million in monthly turnover. This broker offers several trading tools for its traders, and has received the most prestigious award of the best trading platform, from Le Fonti in the year 2018; which shows they have a good track record and are considered as grade A brokers.
  • Olymp Trade presents more than 70 asset types which include commodities, currency pairs, indices, stocks, and cryptocurrencies. One of the most advantageous features offered by this platform is that traders and brokers can start trading with a small amount of $10 as a deposit. They can execute the trades as low as $1 which is an excellent feature.
  • The most important reason why Olymp Trade is different from other high leverage forex brokers is it offers low entry-level fees and a demo account which is free of charge and is available for every trader.
Olymp Trade reviews - Awards Received
Olymp Trade Awards

Features Of Olymp Trade

Some of the exclusive features of this broker are discussed below –

  • As per our Olymp Trade review, this trading platform offers a seamless trading online platform that presents the best features and functionalities.
  • When compared to other brokers that are available in the market, Olymp Trade presents free registration to its members and it offers its traders 10,000 free credits. and can be used using a demo mode.
  • Olymp Trade is one of the leading online brokers that offers security and reliability to its customers. Being one of the most popular and leading online investing platforms, it is considered as a grade-A member of the international financial commission, an organization which safeguards investors. Since Olymp Trade is a member of this organization, it offers a compensation fund covered up to $20,000 for each trader.
  • The trade platform offers a demo account that is available for new traders with $10,000 virtual cash. The traders can successfully practice with the demo account and try different trade strategies before they proceed with Live trading by using real money.
  • Olymp Trade’s required minimum amount to deposit on the trading platform is $10. This implies that anyone can and start trading.
  • The broker olymp trade imparts access to its training and educational materials, which helps the traders to train themselves on the platform. When compared to other trading platforms, this platform does not offer any incentive; instead, it offers a minimum amount to start trading.
  • As per our review, the online portal was designed by a team of experienced programmers, financial analysts, and traders. Further, the team is set out to continuously improve its services, so that traders can efficiently trade on the platform 24×7.
  • One of the most distinctive features of this platform is it offers a very good education center, by offering 56 webinars along with 20 strategies and regular trend lessons. It offers a wealth of information and technical analysis. If a user has a VIP account, they can look forward to additional perks along with one-to-one training sessions and also a few private webinars.
  • Recently, by offering fixed time trades, this broker has added Forex to its trading platform. People who are interested in Forex trading can benefit from their MetaTrader 4 platform; it offers a wide range of currency pairs for its users.
Olymp Trade Review - Features
Olymp Trade Features

Is Olymp Trade platform regulated?

Olymp Trade trading platform comes under the category of grade A broker, a membership offered by the financial commission which implies the high-quality services offered by this broker. Moreover, members of the financial commission guarantee customer support, deposit insurance, and it offers excellent support for all its users. Brokers who are reliable and honest in trading businesses tend to offer high-quality services for its members, which proves its reliability. The traders can view Olymp trade financial commission membership certificates on their website.

Olymp Trade Reviews - Certificate of membership
Olymp Trade Certificate

Pros and Cons

Let us see a few Pros and Cons of Olymp Trade –

Pros Cons
      The platform is intuitive and user-friendly       Olymp Trade offers limited types of trades
      The minimum deposit is very low       Offers only limited account types
      It offers exhaustive educational resources       Provides limited assets to trade
      Olymp Trade provides MetaTrader 4 platform
      It offers a VIP program which is risk-free for its traders and also provides a personal consultant and trade incentives
      This broker allows hedging and scalping
      This broker presents dedicated customer support

Is Olymp Trade Legit or is it a scam?

  • If the broker is regulated, it is considered as one of the most important factors which determines whether the broker is legit or not. If you want to trade with a new trading broker, you should be aware that your money is insured or not.
  • Olymp Trade is regulated by FinaCom’s regulations and policies, which comply with the strict guidelines that are followed by the platform. Further, this regulator offers legal assistance to traders in case they have any issues or dispute against any trading platform or broker which are registered with them.
  • They are a member of FinaCom which is a good indicator that it is a legit broker. All the disputes raised by the traders are offered assistance by FinaCom to settle the disputes. Moreover, Olymp Trade settles all its disputes via their client solutions department.
  • According to Olymp Trade reviews, their clients are offered $20,000 from the compensation fund if they found the complaint raised by them are valid. As an online trader, you would like to know the deposit is insured and whether it can be recovered in case if the broker goes bankrupt.
  • Olymp Trade answers all their customer emails within 24 hours and they offer solutions to their problems and how it can be rectified. Moreover, if the trader is not satisfied with the solution offered by them within 14 days, this broker permits their traders to file a complaint with FinaCom.

Licensing and Regulation

  • Olymp Trade is owned by an offshore company which is based in St Vincent and the Grenadines. All the payments made towards the broker are processed by Cyprus based Wall fort limited. This broker claims that they are regulated by the international financial commission.
  • Before selecting a broker to trade, you should analyze the platform whether it is regulated by any regulatory authority or an official government body. We can see that Olymp Trade is regulated by the international financial commission which shows its regulatory status.
  • One of the reasons why you should look out for a broker who is regulated is that the regulated broker keeps the trader’s money safe, and they will not use the trader’s money for other purposes.

What are the reasons that make Olymp Trade unique?

  • As per our review, Olymp Trade imparts a free demo account which is already credited with 10,000 virtual cash. This is very helpful for traders to trade on the platform without using real money. This demo account virtual cash can be replenished in case if the balance goes below 5000 dollars.
  • If a complaint is placed with Olymp Trade and if it is not resolved in 14 days, the traders can contact FinaCom and have their problem solved.
  • After registration and opening an account, the trader can place a trade as low as $1. Besides, they need not risk huge amounts of money on a single trade and this helps the trader to manage their account.
  • The traders find the Olymp Trade platform can be accessed through three ways. The first one is through their website. The second method is through the desktop application available for Windows and macOS, which offers additional features on the web version. Thirdly, Olymp Trade can be accessed via mobile apps that are available for both Android and IOS smartphones.

Who can use Olymp Trade?

  • We get to know from Olymp Trade reviews that it is highly recommended for beginners who want to trade for the first time. By this way, new traders can benefit from the platform where they only need to deposit 10 dollars to access the demo account.
  • It also offers several educational resources and traders clubs for learning. Olymp Trade presents excellent educational resources for its users which includes analyst support, webinars, analysis of prices, real-time tracking, and several more.
  • The company provides the users to use Fixed Time trades, they can also use useful tools such as economic calendars and trading seminars. Besides, the company has a blog site which helps the traders to learn about the latest trading strategies.

Advantages of Olymp Trade

Let us discuss few advantages of Olymp Trade –

  • Olymp Trade minimum deposit requirements are as low as $10 and it also means that the trader can easily transit from a demo account to a live account, where the trader can practice without using  real money.
  • Even though several online trading brokers offer free demo accounts for a limited period, Olymp Trade company imparts an unlimited demo account that is offered for free, which enables the traders for risk-free practice and to perfect their trading strategies. The demo account imparts all the functionalities of a real trading environment.
  • Olymp Trade presents an excellent user interface and it is very easy to use. Besides, a new trader can learn about how to use the platform in just a few hours.
  • This broker offers no minimum deposit and the trader can started trading with a minimum investment of $1. It is considered as the lowest amount when compared to other online platforms.
  • When compared to other unregulated brokers that are available in the market currently, the operations of Olymp Trade brokers are regulated by the international financial commission. Further, it is also a member of IFC’s compensation fund, which offers insurance of $20,000 for any disputes, where the user has lost their money as a result of bankruptcy.
  • Olymp Trade presents several educational resources for its users. It also offers access to the economic calendar and also trading signals. These can be accessed from the analytics section.
  • This broker offers faster withdrawal and does not charge any hidden charges. In this way, the trader can withdraw their money as little as 10 dollars within 1 to 4 working days without any hidden charges.

Working of Olymp Trade

  • Olymp Trade is considered as one of the most popular and highly efficient online brokers which offers fixed time trades and has a proven track record for its services. It also helps the traders to make fixed time trades and to make predictions on various markets or assets that are available on the platform.
  • Olymp Trade presents a trading chart with several features that are added on the screen like analysis, and technical indicators.
  • In the Olymp Trade company website’s bottom of the screen, the trader can find a trading history that will help them to overview the market position with a glimpse. If you want to trade on the platform the trader should open an account and after opening an account, the trader can use the demo or real account.

Tips for successful trades on Olymp Trade

  • Every trader wants to execute profitable trades. Olymp Trade imparts 80% profit on the invested amount if they are a standard account trader and 90% profit if they are a VIP account holder.
  • The users can use Fixed Time trades and they can also develop a strategy that is the smartest way to execute profitable trades. The majority of the trades revolve around a good winning strategy; several traders treat trading as gambling and finally they end up losing everything.
  • Before starting trading, the trader should understand the different terminologies and the resources to execute good trades. Also, they should understand about leveraging the resources and use them for their benefit.

Types of Account

Olymp Trade provides a user-friendly and easy to use platform, which provides three well-managed trading accounts, where the trader can choose between a demo account, standard account, and VIP accounts. All three accounts offer a good trading experience and it is easy to sign up.

  • Demo Account

Olymp Trade offers a free demo account, which is one of the most advantageous features for new traders who want to know about the features and functionalities that are offered by the platform.  The first step would be to register on the platform and they are offered a demo mode with $10,000 virtual cash. The traders can use a demo mode to practice trading and to familiarize themselves with the platform by using virtual cash. This helps them to reduce the level of risk of losing money.

  • Standard Account

By using the standard account, the trader needs to deposit a minimum deposit of $10 which offers access to all the trading instruments, educational materials, assets, and analytical tools. The trader can take advantage of returns of a minimum 82% for this account which is competitive. The maximum trade amount of $2,000 enables the traders to trade without any constraint. The standard account offers comprehensive benefits and the rate of return is excellent.

  • VIP Account

The VIP account was designed by keeping experienced traders in mind; it offers several exclusive benefits for its traders. With the maximum amount of $5000, the rate of return goes up to 90%. This account offers an exhaustive list of features which includes the availability of risk-free trades, personal consultant, and private webinars for the customers. This account is a well-structured account and highly competitive and it is considered an excellent choice for an experienced trader.

Opening An Account

Opening an account with Olymp Trade platform is very straightforward and easy; it offers two types of trading such as Olymp options trading and Olymp Forex trading. When you need to open a new account the first thing is to be registered on the Olymp option trading platform, where people start trading on this platform. Moreover, Olymp options trade is set on-time duration or expired time. Olymp Forex trading platform supports trading in long and short by keeping the assets at a current rate, and also the trade duration is unlimited without spread, the trader can pay to execute the trades.

Step 1:- Registration

To open an account, the first step is to register on the platform. The user needs to go to the Olymp Trade website or an app and they need to fill the registration form. They need to fill a few details like name, phone number, email address, and the currency option either it is Euro or dollars and a password.

Step 2:- Verification

For completing the verification, the trader needs to send the below documents –

  1. A current photo that holds the passport or ID card, where the face is seen. It is more like a selfie.
  2. They also need to send the photo or a scanned copy of the document that they want to use either ID or a passport
  3. In case if they have used a deposit on a credit or debit card, they should also send a scanned copy of the photo of the card from where the payment is made.
  4. If they have used deposit for some e-wallets photo, a screenshot of e-wallet should be also sent.

Step 3:- Demo Account

When the registration is complete, the trader can go to the demo mode and try out the features and functionalities that are offered on the platform. When they are familiarized, they can use a real account with real money. The demo account offers $10,000 virtual cash which is risk-free where there is no need to add real money. We highly recommend you try them all out because to avoid the risk of losing your money.

Step 4: -Live trading

After trying out the demo account and when you are confident you can deposit the real money and proceed with the live trading. To start with live trading, you need to deposit real money and with the investment of as low as $1, you can execute more trades without much risk. A bit of investment advice, always use a demo account first, and when you are confident, proceed with live trading.

Deposits & Withdrawals

  • Olymp Trade accepts the primary payment methods for depositing money which include, debit card, credit card, bank wire transfer, and e-payment solutions such as Neteller and Skrill from their customers. Moreover, their customers can pay by using Bitcoin and other cryptocurrencies.
  • Depositing money on this platform is a simple process, even though deposit is made using wire transfer which takes a longer time. Further, Crypto deposit are much faster and straight forward and all the deposits are free of charge. The minimum deposit is $10 which is required for opening an account with this broker.
  • The withdrawal process does not take more than one day. Further, the same payment methods that are used for making deposit can be used for withdrawal too. Eventually, the trader should make sure the trading account is fully verified to avoid withdrawal problems.

Deposit methods

Olymp Trade offers several deposit methods, where the trader can use depending upon their convenience. This broker serves clients internationally and also offers an easy to use website. It also presents several good educational resources that can be accessed in 12 languages.

Some of the deposit methods available on the platform are –

  • Credit Cards
  • Fasapay
  • QIWI Wallet
  • Yandex Money
  • Skrill
  • Webmoney

The above methods can be used for withdrawal of money too. Withdrawal with Olymp Trade are processed in not less than 24 hours. This platform offers more than 70 assets for the traders to trade, and the traders can choose from a wide choice of assets. After registration and adding a minimum amount of money, the traders are ready to start trading on the platform.

Why should you Open an Account with Olymp Trade?

Some of the reasons why you should open an account with Olymp Trade are discussed below-

  • After registering on the platform, the trader should switch either to the demo account or to the live account. The demo account offers $10,000 virtual cash and the trader can trade with $1 minimum trade size, which implies that the trader can utilize $10,000 virtual cash for practicing the trades before proceeding with the live trading.
  • The platform offers advanced charts, tools, and technical indicators for the trader’s benefit. This platform offers the trader to simultaneously open other charts by using the technical tab. Besides, execution is fast, and the trader can trade quickly by using a one-click trading method. Moreover, Olymp Trade offers the traders to trade on MetaTrader 4.
  • The users can use FTT (Fixed Time trades) and they can also trade Forex on the platform. By using the Fixed time trade mode, the user places the trade for a limited period and they receive a rate of return which is fixed for the forecast predicted correctly about the movements of the asset, such as currency, stock, index, and several more.
  • The forex mode is used for opening the long or short positions at the current level prices with unlimited duration for executing the trade. There is no spread involved here, but there is a brokerage fee that the trader needs to pay for executing the trades or for holding them till the next day.
  • Olymp Trade utilizes the quotes that are used by the major investment banks and suggests a weighted average price on the platform.
  • The software is very user friendly and well-designed. It offers educational resources that can be accessed in many languages. Further, it offers trade strategies, webinars, and a well developed economic calendar. With a minimum deposit of $10 and an unlimited demo account, it offers a welcoming package that is truly beneficial for the new traders.
  • Olymp Trade also offers bonuses for first time traders, but there is no clear explanation about the bonus policy. Besides, the trader has a choice about whether to accept or not a bonus during sign up.

Benefits of Olymp Trade

Let us discuss some of the benefits that are offered by Olymp Trade –

  • User-friendly website

The website offered by Olymp Trade is very easy to navigate, yet information is a bit difficult to find. The FAQ section offered by this platform offers answers to several questions the trader might have. The vast resources offered in the education section are available in several languages. It also offers a mobile app as well as a demo account for the benefits of its traders.

  • Offers several assets

Olymp Trade’s assets have grown over the years, and currently, it offers 81 assets which range from currency pairs, indices, stocks, commodities, and quite recently it has added cryptocurrencies such as Bitcoin, Ethereum, Bitcoin Cash, Litecoin, Dash, Ripple, Monero and several more.

  • Commissions

Olymp Trade does not charge any commissions for account opening, and it does not charge any amount for withdrawal and deposits, yet it charges $10 monthly if there is an activity in the account after 180 days. The customer support executives are highly helpful and dedicated to attending to the customers who have issues or difficulties. They can also be contacted through email and the traders can get an immediate response within one day.

  • Deposits and withdrawals

If the trader wants to deposit money, this company offers several methods such as Skrill, Neteller, credit cards, and WebMoney. The minimum amount of money for withdrawal is $10, and the payment methods are the same as the deposits.

  • Offers several features

This broker offers the users to use Fixed Time trades and several tools are offered by the Olymp Trade platform such as candlestick charts, which offer several time frames. It also offers technical indicators such as MACD, RSI, SMA, and Stochastic Oscillator. By using the technical analysis, the user can access the fully functional candlestick charts where they can change the time frames, draw lines and they can use several tools and indicators. It also offers one-click trading which is also available on the platform. If the trader wants to switch from live trading to demo trading it can be done in just a click.

Trading Tools

Even though Olymp trade offers standard tools on its website, it also offers several friendly tools for promoting a good trading experience. Some of the tools are discussed below-

  • This platform supports cryptocurrency trading which includes Bitcoin, Ethereum, and Litecoin. The trader can choose their assets and trade anytime; which is known to provide a good return on Investments.
  • If the trade placed by the trader is not satisfying, this platform offers the traders a chance to cancel a trade. If this option is used, the traders can get up to 60% of their investment.
  • Olymp Trade offers training through its educational resources if the trader opens an account with Olymp Trade. Moreover, traders have a chance to access free educational resources that can help them in trading. All the users on the platform can use the below-given resources that are offered by Olymp trade –
  • Interactive courses
  • Webinars
  • Charting
  • Video tutorials
  • Recommendations on trading strategies by financial experts
  • Olymp Trade offers multi- charting facilities, which means the traders can open more than 1 asset at the same time. Also, charts are available in various types and they can be customized by the trader. The charting software functions very smoothly and without any problems like the trader can switch between different timeframes in less than a second. Some of the types are given below –
  • Charts
  • Line Chart
  • Candlesticks
  • Bar Chart
  • Mountain Chart
  • As we are all aware that technical indicators are very important for analyzing the trade strategies, Olymp Trade provides a wide range of indicators and there are over 20 different types that are available. The trader can add them in one click and they can customize anything on the portal. They can use the indicator to confirm the technical analysis and they can also use moving average and Bollinger bands and several more to improve their profits.
  • Olymp trade offers drawing tools such as horizontal lines, trend lines, vertical lines, and Fibonacci that can be very useful to the traders. Also, Olymp trade provides a wide range of tools for analyzing various assets that help the trader to trade on the website successfully.

Trade Features

  • Payouts:

Even though several brokers offer several trade types which include call or put options, high or low trades, and several more features, if you are using Olymp Trade there are only two types of trades, the classic trade and the 60-second trades. In the VIP account, the payouts range from 82% to 92%, which offers more profits to the trader. The simplified systems offered by Olymp Trade makes trading a seamless experience.

  • 60 Seconds Trades

As the name suggests 60-second trades have a 1-minute expiry time, so that the trader may not wait a long time to identify and execute the trades. Executing these olymp trade 1-minute trades means making a profit very quickly if the trader uses the right trading strategies.

  • Trades

This broker offers more than 70 assets for the traders to trade, with the minimum amount of money to deposit is $10, which is one of the most advantageous features for the beginners for avoiding the risk of losing money. They need to choose their asset, currency pairs, and proceed with trading. They need to predict precisely whether the asset will rise or fall within the expiry time. If the prediction is right, they could be making more lucrative profits.

  • Take profits and limit losses

As we are all aware the cryptocurrency market is prone to volatility, and they are unpredictable. Moreover, trends might suddenly reverse. In this situation, the user would like to get more profits before the winning rate turns into a loss. On the contrary, the trader would like to limit their losses, in case their speculation is not correct. Olymp Trade provides some of the features like limiting their losses which can be set manually from the trader’s account.

Trading platform

  • Olymp Trade presents proprietary website and a mobile app for Android and IOS. The Olymp trading app can be downloaded on the Google play store, and the Apple app store depending upon the device used by the trader.
  • The platforms are very intuitive and user friendly. There are several Olymp Trade reviews and testimonials offered by the traders that its app is the best online trading app that is currently available.
  • The platform offered by Olymp Trade is very self-explanatory and it is easy to navigate. It also offers technical indicators, several analysis tools for its traders. A history tab is also seen at the bottom of the page where the trader can review the progress of their chosen asset.
  • This broker also offers several trading charts and several educational resources for the traders so that they can learn about the platform and can get confidence in trading.

Mobile Trading

  • When Olymp Trade was launched in 2014, it had understood the need for mobile technology and they had developed a seamless and award-winning trading software. The mobile app offered by this broker is very responsive and it is available for both IOS and Android.
  • They can be downloaded from the Google play store and Apple app store for those traders who would like to trade by using a mobile rather than browser trading.
  • Even though several mobile apps are available in the market, Olymp Trade mobile app is very responsive and it offers several features for the benefit of its traders.
  • Their website allows easy access and a completely regulated online portal which provides access to real-time prices, trading algorithms, and dedicated customer support.

Forex trading

By using Forex trading offered by this broker, this software multiplies the trade by allowing the trader to purchase Bitcoin, which is worth a thousand dollars only by using $100. This allows the trader to make more profits when there are fluctuations in the market. The multipliers can vary for each currency pair, but some of them give the trader a 500 times multiplier, permitting the traders to make more profits on the trading positions only with a small amount of their capital. This offers reduced risk leverage, that is needed by the small investors when they are planning to build their capital.

Cryptocurrency Trading with Olymp Trade

  • Olymp Trade provides cryptocurrency and Bitcoin trading with fixed time trades over 12 major digital tokens.
  • The software is very user-friendly when compared to other online portals. Besides, the charts are very simple and the user can simultaneously open a few charts at the same time and they can review their trading history anytime.
  • The users can trade 12 types of cryptocurrencies on the website. Several traders trade Bitcoin as its payout ratio is much better than the other brokers.
  • Olymp trade team provides several types of indicators so that the traders can get good entry point signals for trading. Meanwhile, it also offers a mobile app for iOS and Android so that the users can access the portal from their mobile.
  • While trading cryptocurrencies, if the user faces any problem or issues, they can directly contact the support team, where they are offered support through email, phone, online chat, or through the online contact form. The customer support team helps to solve the issues efficiently and immediately.

Trading Terms of Olymp Trade

Below given are the trading terms of Olymp Trade –

  • The minimum deposit required to be added is $10, and if the trader deposits $2000, they can upgrade to a VIP account
  • $1 is the minimum amount of money that is required to trade on the online portal
  • For standard account holders, the minimum amount that is needed to trade is $2000 and for VIP account holders it is $5000
  • Trade payout for standard account investors is 82% and for VIP account holders is 90%
  • The minimum amount of money that can be withdrawn is $10 and the withdrawal times for standard account holders is 24 hours to 3 days and for VIP account holders it is a few hour’s max
  • Olymp Trade does not charge any withdrawal fees from the users.

What are the types of orders that can be placed on Olymp Trade?

Some of the types of orders that can be placed with Olymp Trade are discussed below. The user can place the trade by placing an order in two ways –

  • Firstly, the user can place an order when their asset reaches a strike price which is pre-specified like if they forecast the price of the assets to rise, by this way they can set the platform to place a buy order automatically when the price hits a specific point.
  • Secondly, the users can place a time limit order like, if they forecast the asset price to go up in the next 5 minutes, they can set the online portal to place a buy order automatically in the next 5 minutes.
  • one of the most advantageous features of Olymp Trade is, it does not charge fees or commissions on the trades that are placed or on withdrawal. In this way, the user can keep whatever they have earned. The standard account holders can gain 80% on successful trades while VIP account holders gain 90% on successful trades.

How to start trading

When you are planning to open an account with Olymp Trade, you should be well aware of the two types of accounts that are available for the users. The users can choose either the demo account, standard account, or VIP account. Some of the steps are given below-

  • The first step is to visit the website of Olymp Trade.
  • The second step is to click open a new account.
  • The third step would be to register an account and verify the link sent to their email address.
  • The fourth step would be to confirm the terms and conditions of the Olymp Trade.
  • The last step is to choose a demo account to start practicing the trading. They can also use the virtual cash given in the demo account for practice.

Additional Features of Olymp Trade

Olymp Trade Academy

  • Olymp Trade is regulated by FinaCom, which shows it is a trusted and reliable online broker. Since its Inception, this broker has provided several new features for the traders, and one of the outstanding features is the minimum deposit, which is as low as $10. In this way, beginners can gain experience and they can improve their skills without a huge investment.
  • Olymp trade team offers an Olymp Trade academy for the users who want to trade and learn about the trades. Also, it offers a learning institution where the new traders and the experienced traders can train their trading skills at a reasonable fee.
  • This academy is run by experienced traders who make sure that the traders are updated with the current skills that are required to trade.

Fees

  • Considering fees, this platform charges a fixed rate as on overnight fees for the trades done overnight, which are limited to 15% of the total investment amount.
  • Olymp Trade does not charge any account maintenance fees or custodial fees even though they might charge a subscription fee which is based on the account type or they might charge an inactivity fee if the trader has not used the account for 180 days which comes to $10 per month.
  • If the trader does not have sufficient money in their account, then their trading account will be closed.
  • This broker charges a fee per trade when the trader is using forex mode and it depends upon the trade amount, specific conditions, current market situation, and several more.

Mobile Apps

  • Olymp Trade offers a mobile app which is suited for smartphone, tablet or IOS, and Android users. They can be easily downloaded in Google play store and the Apple app store.
  • When we checked the ratings of the mobile apps, Olymp Trade’s app is highly rated among the apps. It offers a responsive design with the same features as that of the web version, where the traders can execute the trades on their phones without missing out on other features.
  • Olymp Trade’s mobile app is very useful for the traders who are on the move, and they need not be in front of the system every time. This helps the traders to make quick decisions wherever they are.
  • Even though it might be a bit difficult to get the required information on a mobile screen which is small, one of the good news is that the mobile app comes with all the analysis that the trader might require to make informed decisions.
Olymp Trade Reviews - Mobile app
Olymp Trade Mobile App

Assets

Olymp Trade provides traders with fixed time trades which is a good opportunity to trade in the markets. Besides, the trader should be well aware that the instrument availability will depend upon where the user resides. Below given are the assets that are offered by them –

  • Stocks
  • Cryptocurrency
  • Commodities
  • ETFs
  • Currencies

Spreads

Olymp trade offers competitive spreads when compared with other online brokers that are available in the market. The spreads are also offered in the standard account, and are very competitive and the trader should be well aware that the spreads are likely to increase or decrease depending upon the current market conditions.

Leverage

Olymp Trade offers leverage which is variable and depends on what type of trade the trader is considering. The website of Olymp Trade offers attractive leverages of up to 1:400 for some of the major and most popular forex pairs like EUR/USD the leverage is 1:30.

Analytics

One of the most advantageous features offered by Olymp trade team is it offers an important trading tool called Analytics. Also, it offers the below tools for its users –

  • Olymp Trade offers economic calendar and this is a real-time calendar offered by the third party known as investing.com
  • Olymp Trade provides complete information about how to use trading signals. It gets trading signals from a wide range of assets like stocks, forex, commodities, and indices.
  • Trading signals can be obtained by using technical analysis tools and the users can use these trading signals for making accurate predictions and executing profitable trades.

Social Media

  • Olymp Trade is one of the most popular and leading investing platforms that has its presence on social media platforms like Facebook and YouTube. The social media platforms are used to distribute learning resources and materials to their users.
  • Traders and students who are interested in trading can watch live stream videos on Facebook or they can join webinars that are hosted on YouTube. By offering several educational resources and webinars, we can say that this broker is very helpful for all types of traders.
  • Currently, the website has over 6.5 million users and over 20,000 traders based on Olymp Trade review 2020, who are using this online portal daily.

Promotions and Deals

As per the service agreement of Olymp Trade, it says that it provides trading bonuses; but it does not disclose any of the details and what are the withdrawal conditions offered in the service agreement, which needs further clarity. One should always know that in the EU, trading bonuses are banned and several other regulated markets. Olymp Trade regularly provides the new trader’s promo codes to avail bonuses of up to 50%. When the new users are signing up, they will receive promo codes and a 50% bonus on top of their minimum initial deposit.

Customer Support

  • Several rural online platforms offer different levels of support like virtual live assistants and several other features. This includes email support, phone support, support forums, and several more. The broker Olymp Trade provides a dedicated and strong support team that is available 24×7.
  • The Customer support offered by Olymp Trade has the highest rated feature. Olymp trade team is exceptional and the traders can get support through emails, phone support, and many more. They operate round the clock and they can be reached through email, live chat, or phone, and the questions are answered immediately within a few minutes.
  • Customer support is offered 24×7, in 8 different languages and the trader can talk to the customer support who understands their language.
  • Also it offers an online contact form where the trader can use it to contact the customer support representative. They need to enter their first name, email address, message, and the contact number for the team to contact back.
  • Moreover, the customer support team can also be contacted through social media such as Facebook and YouTube.

Olymp Trade Affiliate Program

Olymp Trade is one of the most popular international brokers and trading platforms. This broker offers a simple and multi-functional user interface. For new users who are not familiar with binary trading options, they can use the platform very easily and it also offers a dedicated analyst team with 24×7 support. This broker presents an affiliate program, which allows the trader to get a monthly bonus of up to 15,000 dollars and unlimited income for any referrals.

Highlights of Olymp Trade Affiliate Program

  • One of the most advantageous features of this affiliate program is, it offers the highest revenue sharing for a lifetime, which is up to 60% of the profit from every deposit
  • It offers a large selection of promotional tools in 7 languages and it also offers faster payouts
  • This broker accepts clients from Russia, Southeast Asia, the Middle East, LATAM. CIS, and Africa
  • Olymp trade has higher registration to trader conversion.
  • It also offers regular promotional events and contests
  • Other features include education for traders, VIP account, mobile apps and several more
  • It also offers a referral program where the trader gets 5% as referral income
Olymp Trade Review - Affiliate Program
Olymp Trade Affiliate Program

Wrap up

From our Olymp Trade review, we conclude that this is considered as one of the best online trading platforms. It offers competitive rates where the trader needs to deposit 10 dollars and start trading by using as slow as $1. They offer a wide range of educational resources and it is the best trading platform for beginners. For experienced traders, there is a VIP account which offers the maximum rate of return with additional special features. Olymp Trade is considered as category A broker by the international financial commission which shows its reliability.

FAQ’s

1. Is Olymp Trade Safe?

Ans. This broker is a member of the international national commission which in turn ensures the trader’s protection, who are trading on the website more effectively where they protect fraudulent activities. Olymp Trade is good for beginners, and they offer several features, where it takes a few minutes to understand. Further, opening an account takes a few minutes, and as well as deposit and withdrawal are very fast. They also offer several tools for successful trading.

2. Is Olymp Trade genuine?

Ans. Olymp Trade is an established broker that was started in the year 2014, and it is certified by FinaCom. This shows they are a trusted choice for online trading. It is considered as an international broker that offers an excellent website and educational resources that are offered in 12 languages.

3. What’s the minimum deposit and trade amount?

Ans. The minimum deposit that is needed by Olymp Trade is $10 to proceed with trading. The trader can start with trading with as low as $1 and they need not risk a huge amount.

4. Can I start trading on a free demo account?

Ans. The trader can proceed with trading with a demo account when they have registered on the website. Olymp trade demo account comes with $10,000 virtual money where the trader can use it for practicing trading on the portal.

Olymp Trade

9

PAYMENT OPTIONS

8.1/10

SUPPORT

9.6/10

USER EXPERIENCE

9.1/10

REPUTATION

8.9/10

SECURITY

9.5/10

Pros

  • The platform is intuitive and user-friendly
  • The minimum deposit is very low
  • It offers exhaustive educational resources

Cons

  • Olymp Trade offers limited types of trades
  • Offers only limited account types
  • Provides limited assets to trade
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