Review: What is Olymp Trade and why are they insanely popular?
Olymp Trade is an online broker that provides automated VIP trading services for Forex, CFDs, Stocks and Cryptocurrencies (such as Bitcoin and Ethereum).
They are quite popular in India due to their native Hindi customer assistance, narrow pip spreads, quick withdrawal of cash, and general stability of their trading platform.
India and Indonesia are the most important markets for Olymp Trade.
- When comparing Olymp Trade to IQ Option and Expert Option, particularly for India, it is by far the finest broker.
Since 2014, Olymp Trade has registered 30 million accounts in over 102 countries.
Olymp Trade boasts approximately 5 million traders, with tens of thousands actively trading every day.
In India, its daily trade volume exceeds 1000 crores.
- Every day, Olymp Trade executes over 1 million trades from India.
- The average deposit is Rs. 15,000, however some professional investors deposit more than Rs. 25 Lakh every other month.
Pros and Cons of Olymp Trade on Trustpilot, Reddit and SiteJabber
Olymp Trade Reddit Reviews
A user in India posted a question about Olymp Trade basically asking if people really made money on their trading platform:
Hey u all I am really interested in learning everything there is to know about olymptrade because I am quite knowledgeable about traditional trading brokers such as zerodha and upstox. However, despite having spent over ten hours reading online blogs and videos, I am still unable to persuade myself that it is a fraud. The comments sections of these websites are packed with people who have both lost money and gained money from participating in the scheme. - Olymp Trade Reddit
To which other Reddit users replied:
Reddit User BabyLeast said: You shouldn't put any restrictions on your ability to trade using binary app platforms. You should give Olymp Trade a go since it is worth trading. It provides a practice account where you may learn different trading strategies before allowing you to move on to the real thing.
Reddit User rehanOnlineWork said: Educated and experienced traders have a lower risk of incurring financial losses, are not considered to be inexperienced traders, and unquestionably are aware of how to trade. I am a trader at olymp trade, and although I have been trading for more than a year, this year has turned out to be one of the best years of my life. Therefore, it is not at all a con, but you should have some training in trading before engaging in it.
However, Zerodha's - which is a direct competitor of Olymp Trade in India - company representative on Reddit did not waste this opportunity to taunt them.
Jealous much? Anyways this is what he had to say:
Nikhil_A, a verified account rep of Zerodha bad-mouthed Olymp Trade on Reddit to discourage users from signing up with them: u/nithin_kamath wrote about these platforms in this post: https://zerodha.com/z-connect/sticky/the-twisted-world-of-illegal-cfds-binary-options
Olymp Trade Trustpilot Reviews
According to Olymp Trade's Review Chart on Trustpilot; their overall rating comes down to:
55% of Reviewers of Olymp Trade gave this broker an Excellent rating on Trustpilot
28% of Reviewers of Olymp Trade gave this broker a Great rating on Trustpilot
1% of Reviewers of Olymp Trade gave this broker an Average rating on Trustpilot
<1% of Reviewers of Olymp Trade gave this broker a Poor rating on Trustpilot
15% of Reviewers of Olymp Trade gave this broker a Bad rating on Trustpilot
The final tally of votes on Trustpilot gives Olymp Trade trade a combined rating of 3.9/5.0 based on over 500 authentic reviews by users who deposited at least $10 on their trading platform. - Olymp Trade Trustpilot
Olymp Trade Sitejabber Reviews
Olymp Trade enjoys a very good reputation on Sitejabber:
User Hemakuta B. said: Olymp Trade is one endeavor that I will not give up
on. Why should I even try? Never crushed Please withhold any difficulties when
withdrawing my money.
I do my trades in the manner that best suits me.
To which Olymp Trade Staff replied: Hello, Hemakuta B.!
I am grateful to you for the warm sentiments. Our clients are very important to us, and we place a high priority on ensuring them complete pleasure. As a result, everyone in our staff puts in their very best effort to deliver first-rate services. Your praises are our inspiration. We wish you success in your business endeavors!
With warmest regards, Olymp Trade's team. - Olymp Trade Sitejabber
Review: How to get started on Olymp Trade
- Register for an account here. You can also download their app for Google Playstore and iOS App store there.
- Visit Investopedia to understand all of the fundamentals of investing with confidence.
- Olymp Trade assists all of its clients in the trading of Forex, Bitcoin, and CFDs. It makes no difference whether you are a novice or a seasoned market participant.
- Make a deposit and begin trading.
- Take things slowly. Do not invest significant sums of money anyplace, let alone Olymp Trade. Open an account and begin trading. You'll ultimately figure out if it was a smart investment or not.
- There are many Indians who share their own Olymp Trade trading success stories on platforms such as Reddit, Quora, and Trustpilot. To keep motivated, read them.
- The Olymp Trade app is compatible with any modern Android or iOS smartphone. It is recommended, however, to utilise a desktop computer for a more thorough presentation of graphics and functions. Within a week, anyone can learn how to utilise their trading platform. To get a feel for it, sign up for a demo account.
- It is safe to establish an account with Olymp Trade while residing in India. There is no prohibition against them. There is no law that prevents Indians from creating accounts and trading on the Olymp Trade platform.
- Olymp Trade's Automated Trading Systems are suited for both newbies and experienced traders who know what they're doing. Profits cannot be generated by automation unless all requirements and pre-conditions are satisfied precisely.
- Withdraw your cash once you have made a profit.
Olymp Trade Demo Account Review
Review: The demo account at Olymp Trade is not a forgery.
Apart from the amounts displayed in the balance, there is no difference between the demo and the genuine version. This is a common perception among new traders, however it is unfounded. Before creating a real account at Olymp Trade, trading instructors normally advise 1 to 2 weeks of demo account instruction.
Review: Olymp Trade's demo account isn't a magic elixir, but it may assist inexperienced traders grasp the fundamentals of how financial markets function.
- Open Olymp Trade Account with a deposit.
- For deposits less than $2,000, select a trading signal source from their network.
- If you deposit more than $2,000, you will be assigned a personal fund manager who will advise you on every trade.
- You should be able to earn money after roughly a week of trading.
- Withdraw proceeds to your Indian bank account.
This area contains active promo codes for Olymp Trade for things like no deposit bonuses and risk-free trades, as well as a list of countries that are supported. Olymp Trade is able to provide free deposit incentives for all plan kinds. Simply start a chat window with an account representative before establishing an account, and that person should be able to add in the deposit bonus. These are the codes we propose. A trader can obtain a bonus on their deposit or risk-free trades by entering a series of symbols in the "Promo Code" area on the trading platform.
Review: Applicable Countries
₽ - Russian ruble, $ - United States dollar, € - Euro, R$ - Brazilian real, ¥ - Chinese yuan, ฿ - Thai Baht, د.إ - UAE dirham, AR$ - Argentine peso, COL$ - Columbian peso, £ - Egyptian pound, Rp - Indonesian rupiah, ₹ - Indian rupee, M$ - Mexican peso, RO - Omani rial, SR - Saudi riyal, S$ - Singapore dollar, ₫ - Vietnamese dong.
Arab world - Palestine, State of, Yemen, Bahrain, Oman, Egypt, Turkey, United Arab Emirates, Lebanon, Morocco, Comoros, Kuwait, Algeria, Libya, Djibouti, Syrian Arab Republic, Qatar, Iraq, Sudan, Mauritania, Jordan, Somalia, Tunisia, Saudi Arabia.
Europe - Belarus, Latvia, Andorra, Austria, Sweden, Russian Federation, Estonia, Croatia, Denmark, Åland Islands, Slovenia, Romania, Cyprus, Ukraine, Bosnia and Herzegovina, Bulgaria, Switzerland, Albania, Iceland, Italy, Portugal, Luxembourg, Belgium, France, Finland, Netherlands, Poland, San Marino, Monaco, Spain, Montenegro, Hungary, Germany, Greece, Slovakia, Liechtenstein, The United Kingdom of Great Britain and Northern Ireland, Norway, Czech Republic, Serbia, Moldova (Republic of), Lithuania, Malta, Ireland, Macedonia (the former Yugoslav Republic of).
North America - Belize, Antigua and Barbuda, Canada, United States of America, Saint Lucia, Barbados, Trinidad and Tobago, Saint Vincent and the Grenadines, Dominica, Mexico, Bahamas, Saint Kitts and Nevis.
Africa - Kenya, Senegal, Gambia, Sao Tome and Principe, Mayotte, Burundi, Cabo Verde, Burkina Faso, Angola, South Africa, Gabon, Guinea, Ghana, Zambia, Benin, Congo, Congo (Democratic Republic of the), Central African Republic, Niger, Equatorial Guinea, Namibia, Tanzania, United Republic of, Zimbabwe, Nigeria, Madagascar, Guinea-Bissau, Chad, Sierra Leone, Swaziland, Botswana, Rwanda, Malawi, Ethiopia, Ivory Coast, South Sudan, Réunion, Mauritius, Eritrea, Liberia, Mali, Cameroon, Mozambique, Togo, Uganda, Lesotho.
Asia - Tajikistan, Uzbekistan, Thailand, Singapore, Taiwan, Province of China, Bhutan, Kyrgyzstan, India, Afghanistan, Nepal, Azerbaijan, Kazakhstan, Malaysia, Maldives, Turkmenistan, Hong Kong, Myanmar, Macao, Israel, Sri Lanka, Brunei Darussalam, China, Philippines, Korea (Republic of), Georgia, Indonesia, Viet Nam, Lao People's Democratic Republic, Japan, Korea (Democratic People's Republic of), Armenia, Pakistan, Cambodia, Iran (Islamic Republic of), Bangladesh, Mongolia.
Latin America - Panama, French Guiana, Chile, Guyana, Cayman Islands, Argentina, Bolivia (Plurinational State of), Grenada, Bonaire, Sint Eustatius and Saba, Turks and Caicos Islands, Anguilla, Puerto Rico, Costa Rica, Dominican Republic, Sint Maarten (Dutch part), Honduras, Guatemala, British Virgin Islands , Guadeloupe, Jamaica, Ecuador, U.S. Virgin Islands, Paraguay, Suriname, Brazil, Cuba, Venezuela (Bolivarian Republic of), Martinique, Aruba, Curaçao, El Salvador, Montserrat, Uruguay, Nicaragua, Colombia, Peru, Haiti.
Greenland - Greenland.
Other world - British Indian Ocean Territory, Faroe Islands, Bermuda, French Polynesia, Seychelles, Micronesia (Federated States of), Cook Islands, Timor-Leste, Guam, American Samoa.
Oceania - Northern Mariana Islands, Papua New Guinea, Australia, Tonga, Solomon Islands, Vanuatu, Tuvalu, Palau, Fiji, New Zealand, Kiribati, Samoa, Marshall Islands, Nauru, New Caledonia.
Review: How to register at Olymp Trade
- To log in, go to Olymp Trade and look in the upper right corner of the screen.
- In addition to the Registration button, there will be a "login" link. When you click this link, you will be sent to the relevant URL, where you may enter your login and password to access Olymp Trade's trading platform.
- There is no special function for deactivating or deleting an Olymp Trade account.
- You can just opt not to use it. If there is a legal obligation for you to do so, contact their help staff and explain the issue. They should be allowed to deactivate or remove after speaking with upper management.
- If you can't remember your password, go to their main website and search for the Login button in the upper right corner, just below the Registration link.
- To login, click on it and enter your username and password.
- If you have forgotten your user details, please email email@example.com or click on the Open Live Chat button to talk to a consultant directly.
Review: Olymp Trade Office in India
- As of this date, Olymp Trade does not have a physical office in India.
- Olymp Trade has Hindi-speaking support experts who are ready to assist you.
- It does not have an Indian customer service number, however it does offer three foreign customer service numbers: +27 (21) 1003880 Cape Town, South Africa | +54 (11) 59175747 Buenos Aires, Argentina | +35620341634 Malta | Available 24 hours a day, seven days a week.
Review: Olymp Trade Social Media
- Olymp Trade does have a significant presence on Social Media with hundreds of thousands of followers.
- The name of Twitter handle of Olymp Trade is @OlympTrade.
- The Facebook page of Olymp Trade has many members as well. Their official YouTube channel can be viewed here.
Olymp Trade CEO
Here is an excerpt of the interview of the CEO of Oylmp Trade:
"The basic gist is that the more you invest, the more we will help you succeed by introducing you to our secret internal network of direct financial deals with top-tier banks and highly sophisticated currency trading dark pools based in New York, London, and Tokyo," said Andreas A., CEO of olymptrade.com, in a very rare and exclusive phone interview with ForexBrokers.co.in. "The volume of trading affects our platform. Only when our Indian clients actively invest do we generate the highest money. They are the heart and soul of our organisation, which has surpassed Zerodha, Sharekhan, and 5Paisa to become the country's leading broker."
Olymp Trade Gold OTC Review
The Olymp Trade platform fully allows the trading of XAUUSD or gold. It is also one of the most frequently traded instruments on their smartphone app.
Trading Limits Review
Olymp Trade allows a total trade amount of $150,000 ($5,000 for Stock CFDs, Oil, Gold, and ETFs) and $120,000 for FX pairs ($4,000 per trade with a maximum of 30 open positions).
Review: Best Time to Trade Olymp Trade
- In India, the ideal time to trade on Olymp Trade's platform is generally when the trading day begins in London and New York, which converts to 1:30 PM to 10:00 PM IST for the London trading session and 8:00 PM to 2:30 AM IST for the New York trading session.
- Cryptocurrencies may be exchanged nonstop 24 hours a day, seven days a week.
Review: Are Fixed-Time Trading Brokers Bad?
- Olymp Trade is frequently marketed on the internet as a Binary Options broker, particularly through affiliate marketing companies that promote competitor firms.
- The term "Binary Options" has a poor reputation because to the unethical practises of companies based in or affiliated to Israel.
- Back in March 2016, the well-known Banc De Binary fraud did significant harm to this unique financial instrument.
- The past is the past, and no one can alter it. Honest and dependable brokers, such as Olymp Trade, have to pay the price for the terrible activities of scam brokers.
- As a result, Olymp Trade chose to begin using the term "Fixed-Time transactions" instead of "Binary Options."
- The time and effort necessary to repair the public relations harm created by fraudulent binary options firms is not worth it.
- In any event, traders who want to trade on platforms like Metatrader 4 and Metatrader 5 may still do so. I hope this clears up any doubts regarding whether or not Olymp Trade is a Binary Options Broker.
Review: Is Olymp Trade Fake or a Scam?
- Olymp Trade is a legitimate, registered broker. It is not a forgery or a hoax.
- There are several client testimonials accessible on the App Store and Google Play that demonstrate that Olymp Trade is not a scam and is, in fact, a fantastic broker.
- Olymp Trade is a secure trading platform.
- India is home to tens of thousands of active forex and bitcoin traders.
- The only way to validate anything great or negative with Olymp Trade is to register an account, test them out with tiny sums, and then develop your trust from there.
- Even on a stock exchange, most orders are executed by market makers, who own the bulk of the stock and are in charge of both buying and selling stocks.
- Because fixed-time deals are not executed on an exchange, they are not any less essential, especially since CFDs function in the same manner.
- Olymp Trade is a market maker and will take the opposite side of your transactions, but so do the vast majority of premier brokers and institutions.
- It always comes down to ethics and trust, which are both strengths of this broker.
Review: How much minimum amount required to open an Olymp Trade Account?
- To start a live trading account on their platform or mobile app, Olymp Trade demands a minimum deposit of $10. At least Rs. 50,000 is an excellent starting point.
- At Olymp Trade, Statuses are the designations given to accounts depending on the total amount of deposits made by the client: Starter (no minimum deposit required), Advanced (minimum deposit $500), and Expert (minimum deposit $2,000).
- The maximum size of a trading position per order is limited by Olymp Trade.
- It is determined by the customer's status level. Starter: $20,000; Advanced: $60,000; Expert: $150,000. If you require more roles, please contact a consultant to upgrade your account to a bespoke solution, which is also accessible to VVIP clients.
Olymp Trade Loss Recovery Review
- Taking a loss in the financial markets is something that most people do on a regular basis. Trading on Olymp Trade platform without losing money is practically difficult.
- What traders should concentrate on is minimising losses while allowing winnings to ride.
- New traders nearly usually lose money in the beginning. They may, however, improve their trading skills by practising various trading tactics over time.
- Consider your losses from internet trading as a company expenditure. Looking at defeats from a new perspective will make you feel a lot better.
- Without a doubt, you have the potential to become a successful Olymp Trade trader. So long as you have a decent trading plan, efficient capital management, and a firm understanding of market psychology. On the Olymp Trade platform, there is no one way for accurately predicting your trades.
- To maximise the possibilities of making good trades, you must employ a wide range of technical and fundamental trading techniques and analysis.
- Everyone is allowed to experiment with alleged methods and cheats for the Olymp Trade platform.
- The irony is that hundreds of people try to defraud them every day after viewing YouTube videos published by imposters. In the end, it is ineffective.
Olymp Trade Earning Proof Review
Thousands of traders use the Olymp Trade app or desktop platform to earn enough money to cover their monthly rent and other expenses.
- Earning INR 10,000 or more each week is not a big thing, thus it is certainly achievable.
- You might be shocked to learn that more than 65 percent of Olymp Trade's Indian clients are under the age of 25.
- Olymp Trade is immensely popular among young Indian college and university students as a result of this fact.
- As a result, yes, many students trade on their app on a regular basis in order to profit from the foreign exchange and cryptocurrency markets.
Review News Trading Olymp Trade Platform
- The primary news events that influence the currency markets quickly are the unemployment rate, GDP, CPI, and overnight interest rates.
- Most small brokers are unable to manage the incoming orders and may temporarily disable the platform in order to shield themselves from negative exposure.
- The easiest strategy to trade news events on the Olymp Trade platform or app is to enter the trade before to the event and exit 15 to 20 minutes after the economic data is revealed.
Olymp Trade Profit Calculator Review
- The calculation of Olymp Trade profit and loss is straightforward.
- For Long or Buy positions, subtract the "Opening Price" from the "Closing Price," then divide the result by the "Opening Price."
- Multiply the result by the multiplier and the amount, and then deduct Olymp Trade's overnight swap cost (if any).
- To calculate a short or sell position, subtract the "Closing Price" from the "Opening Price" and divide the result by the "Opening Price."
- Multiply the result by the multiplier and the amount, and then deduct the Olymp Trade charge (if any).
Olymp Trade Fixed Time Trades Review
For fixed-time transactions, the Olymp Trade trading platform and app provide 1 minute, 5 minute, 10 minute, 15 minute, and 23 hour expiries.
- The main Olymp Trade trading platform is based on fixed-time deals.
- This implies that when the specified time interval expires, all active transactions will automatically close or terminate in either a profit or a loss.
- Users can also choose their own time of expiry.
Review: Quickler is an Olymp Trade feature that allows traders to enter brief 5-second deals 24 hours a day, 7 days a week, with an 80 percent profit return.
For fixed time trading, the Olymp Trade trading platform and app allow traders to choose their own expiry time.
- When using their time-based trading platform, Olymp Trade clients may anticipate a rate of return of up to 92 percent on a winning trade. You can make risk-free trades valued up to 5% of your total amount.
- In the event of a loss, this money can be reimbursed to your account.
- Traders on the Olymp Trade platform may utilise the multiplier tool to boost the margin of their transactions by 50, 100, 150, and 200 times. It is simple to use leverge on transactions completed on the Olymp Trade platform.
- For example, if a trader starts a forex position utilising the x200 times multiplier feature, the trader can place a position worth $200 for every $1 in account balance.
Olymp Trade Regulation Review
- Olymp Trade is regulated by the International Financial Commission of A category under the parent company Saledo Global LLC.
- There are several brand names with IFC licences on the market.
- It isn't ideal, but it is far superior to no protection at all.
- You can read the real audit results at VerifyMyTrade.
- For Olymp Trade's trading platform, it has successfully scanned 50,000 order executions.
Review: Is Olymp Trade a Gamble?
Trading cannot be considered gambling.
- Earning actual money on the Olymp Trade platform or app in India is definitely achievable.
- However, the proportion of such individuals is quite modest, hovering about 15% of their consumer base.
- This also implies that profiting from financial markets is difficult.
- The rate at which someone may make money quickly on any trading platform, let alone Olymp Trade, is determined by that individual's financial experience and trading style. No, making money quickly is not possible for newcomers.
Olymp Trade Verification Review
Olymp Trade requires all system users to register a valid mobile phone number.
- So, yes, it is critical that all customers provide a valid mobile phone number in order to obtain a verification OTP (One Time Password) from Olymp Trade; otherwise, your withdrawal request will be refused.
Review: You can download Metatrader 4 and 5 on your PC or laptop, however the Olymp Trade app is only accessible for Android and iOS devices.
People using their app on a smartphone with a mobile data plan should have at least a 3G connection; 4G or 5G is even better.
- For landline DSL connections, a minimum speed of 4 Mbps should suffice.
- Users of PCs and laptops should use a regular web browser to access the Olymp Trade platform.
- There are several obvious hacks for the Oymp Trade app accessible, but none of them work because any form of software weakness is rapidly patched up by their technical staff.
- Unless you choose to use Metatrader on your PC, you can perform most of your trading through a browser or via Olymp Trade's mobile app.
Review: Olymp Trade runs under Saledo Global LLC
The Olymp Trade app has offices in numerous countries, including St. Vincent & the Grenadines, South Africa, Argentina, and Cyprus.
- The services by Olymp Trade are provided and regulated by Saledo Global LLC, which is registered at First Floor, First St. Vincent Bank Ltd Building, P.O. Box 1574, James Street, Kingstown, St. Vincent & the Grenadines, and is fully licenced to carry out its activities under the laws of that country.VISEPOINT LIMITED, registration No. C 94716, registered at 54, Immakulata, Triq il-Mina ta' Hompesch, ZABBAR ZBR 9016 Malta, manages payment transactions on behalf of Olymp Trade.
Review: Olymp Trade does not have a Wikipedia Page
There is currently no Wikipedia entry on Olymp Trade on the internet.
However, many websites have Wikis submitted under their brand name. In any case, you don't need to read a Wiki. The majority of the relevant information on them is already available on this webpage.
Olymp Trade Success Stories Review
- It is difficult to determine whether the Olymp Trade trading success tales of Vihaan Khatri, Anika Singh, and Sai Reddy, which have been widely circulated on Google, are genuine; yet, because there is no proof that they are false, one must presume that they are.
- However, one must keep in mind that many firms advertise their brand through sensationalist stories, and Olymp Trade is no exception.
In-depth Review of Olymp Trade for Indians
Review: What exactly is the Olymp Trade?
Since it was first established, the broker has grown to become one of the most well-known and respected internet brokers.
- It is located on the first floor of the building that houses First St. Vincent Bank Ltd. St. Vincent and the Grenadines is home to the broker's headquarters, and the organization has been a member of the International Financial Commission since 2016.
- Olymp is a global broker that serves tens of millions of customers all over the world.
- It offers more than 80 different trading products, some of which include commodities, equities, indices, cryptocurrencies, and even traditional currencies.
Olymp Trade's Primary Offerings and Benefits Review
Review: The following is a list of some of the most important services that the broker provides:
- According to the findings of our investigation, one of the most significant aspects is that the brokerage has attained a positive impression from its customers and that it is a Category A member of Finacom; this verifies that the Olymp Trade team has received such positive feedback and that it is a trustworthy broker.
- This brokerage services traders from 194 nations throughout the world, and the user-friendly interface of the site is offered in 13 different languages. Recently, this broker has expanded its platform to include the addition of thirty additional assets. The "Experience Points XP" incentive program is a new initiative that has been implemented by this financial broker. The program is designed to provide its active traders with additional rights and advantages.
- The feature of the tool known as "Profit Line" assists traders in locating the moment at which they will have broken even on each deal. In addition to that, it provides a tool known as the "Adviser" that examines a variety of indicators in accordance with the trading techniques used by its trading community.
- It provides a straightforward and uncluttered experience for users, and users are able to trade using any device, whether it be a desktop computer or a mobile phone, according on their preference. The platform was created specifically for the customer, so it can easily adapt to work with any device, and moving between devices is completely painless.
- A demo account with 10,000 virtual dollars is made available to customers of the broker so that they may learn and practice trading. They are also able to personalize the platform to their liking by employing specialized and helpful tools to develop their abilities.
- The most significant benefit is that it provides customers with access to a personal manager, through which they are able to receive unique one-on-one financial advice from trade experienced experts. The support staff of the broker is quite accessible and can be reached at any time of the day or night. Users may get in touch with them using the website's live chat feature or by email, and their questions are resolved quickly.
- The customer service department of the website provides assistance in a number of languages, including English, Russian, Thai, Portuguese, Indonesian, Turkish, Spanish, Chinese, Vietnamese, Arabic, Malayan, and Hindi. Other languages may be added in the future. In addition to this, it gives sophisticated chart choices and the necessary configurations for a bar chart, a line chart, a heikin-ashi chart, and candlesticks.
- The Olymp Trade platform themes, which come in both light and dark variations, give consumers with an experience that is quite beneficial. Additionally, the users have access to a real-time trading chatbot helper and the various ways in which it may be employed.
Olymp Trade Review by Quora, Trustpilot, Reddit and Sitejabber Users
The following is what Indian users on Quora, Trustpilot, Reddit and Sitejabber believe about Olymp Trade:
- Trading systems available over the web and mobile devices include an intuitive user interface.
- The broker does not work with customers from the EU or the US.
- Attractive spreads, as well as leverage of up to 400:1, are offered.
- There are only so many deals and incentives available.
- Both Android and iOS users will have no trouble downloading and using the Olymp Trade mobile app.
- Withdrawal issues might arise for accounts that have not been confirmed.
- Low required minimum deposit in comparison to more standard online gambling venues.
- Bonus terms are not explained in a transparent manner.
- Provides access to a diverse selection of assets for trading.
- Olymp provides customer service around the clock.
- Offers support for a diverse selection of payment options.
- The broker offers a variety of instructional approaches.
Free Trial Account Review
Olymp Trade gives users the opportunity to try out their platform risk-free by providing a sample account.
- Before spending their hard-earned money, consumers are able to test the functionality of the various indicators and other platform features thanks to this feature.
- Additionally, a virtual sum of $100,000 is available to use with this trial account.
- The demo account is a carbon copy of the ordinary account holder, which is a feature that the user will find quite helpful.
- The user must register on the website in order to use the free demo account; however, they are not required to give any kind of identification evidence unless they want to utilize a premium account that carries a high level of risk.
- Users who are satisfied with the demo account can next choose between two different sorts of paid accounts: a normal account or a VIP account.
Regular Customer Account Review
A user is required to make a deposit of at least $10 into their account in order to be able to open a regular account.
- If they wish to trade, they can begin trading with a predetermined sum, which can be as little as one dollar and as much as two thousand dollars.
- The normal trading account features spreads of 1:1 pips, and the minimum amount required to withdraw begins at $10.
- There is no upper limit to the amount that may be withdrawn, though. In addition to that, it provides ECN accounts.
VIP User Account Review
If the user is interested in obtaining a VIP account, they are need to make a deposit of at least $2,000 in order to qualify.
- When compared to a regular account, this particular kind of account offers a greater number of perks and conveniences.
- Those with VIP accounts have the ability to conduct deals for up to $5,000, and they also have access to VIP advisors.
- VIP consultants are financial analysts that have a broad range of job experience and are able to give beneficial advise on precisely which trades to execute utilizing the Olymp Trade approach.
- Additional trading Olymp Trade tips, features, and tools are made available to this account holder in addition to those that are accessible only to individuals with basic accounts.
Olymp Trade's Leverage Review
The Olymp platform provides traders with different leverage sizes; the magnitude of the leverage is determined by the type of trade the trader intends to execute when they make a transaction.
- It provides maximum leverage of up to 400:1, depending on the situation.
- A leverage of 30:1 is made available for some of the most popular trading pairs in forex, such as EUR/USD.
- A leverage of 20:1 is made available for smaller currency pairings, such as NZD/USD, AUD/CAD, and USD/SGD.
Olymp Trade's Spreads Review
When compared with trading platforms offered by other brokers, this broker's platform is regarded well and provides some of the most competitive spreads available.
- Spreads for ordinary accounts start as low as 1.1 pips and are among the most competitive in the industry.
- The value of cryptocurrencies like bitcoin, as well as stock values, are determined by assets.
- When users carry out fixed-time trading on the platform, it is possible to observe it on the live trading platform.
Olymp Trade's Trading Costs Review
This particular broker does not impose any commission fees on any trades that are carried out using the ordinary account right from the get-go.
If a trader does not make any transactions on this platform for more than 180 days in a row, the platform will charge the trader a monthly fee of $10.
Review: Overnight Fee
When the transactions are conducted overnight, the Olymp Trade team does impose a set rate overnight fee; the price can be as high as 15 percent of the total investment amount.
This information was gleaned from our overwhelmingly positive evaluation of Olymp Trade. In currency mode, you will also be subject to a cost.
Review: Fee for inactivity
This broker does not charge any kind of account maintenance cost or custom fees; nevertheless, it does charge a sort of fee that is dependent on subscriptions and is also referred to as an activity fee.
- The fee is reduced to $10 per month in the event that there is no trading activity for 180 consecutive days.
- In the event that there are not enough money in the account, the account will be closed.
- Trading foreign currency with this broker incurs a nominal fee, the amount of which is variable and is based on fixed quantities, conditions specified in the specifications, the multiplier that is necessary, and the current state of the market.
Review: Fees for Deposits and Withdrawals
When compared to other platforms in the trading business that charge a small number of fees as a deposit or withdrawal fee, the Olymp Trade platform does not charge any kind of cost to traders for deposits or withdrawals.
- This is in contrast to other platforms in the trading industry.
- Before getting familiar with the website, investors should check with their financial institution about the minimum withdrawal amount as well as any associated costs in order to make the most of every opportunity.
Olymp Trade Deposit and Withdrawal Options Review
According to Indiana on Quora, it provides various alternatives for deposits and withdrawals, however investors can withdraw cash using the same way that they used to deposit funds.
Although it provides several options for deposits and withdrawals.
Olymp Trade Bonuses and Special Offers Review
This brokerage firm does not provide any more information on the requirements that need to be satisfied in order to qualify for the trading incentives or other promotions that they provide.
This platform frequently gives new traders an Olymp Trade promo code, which allows them to take advantage of discounts and bonuses worth up to fifty percent of their first investment.
Program to Reward Loyalty Review
This particular business provides its clients with a customer loyalty program that may be completed at one of three different levels: beginner, advanced, or expert.
- A certain number of privileges come with the achievement of each level.
- The higher the level of the user, the more trading rights they are granted, which are ideal for active traders.
- For instance, a beginning level begins with the most fundamental status, however an advanced or expert level grants access to additional rights, such as a personal account manager, that are not available at the starter level.
Educational Material Review
Olymp Trade offers a variety of instructional and training materials to traders, such as analyst help, webinars, live tracking, and analysis of the values of various assets.
- In addition to this, it offers a number of helpful resources, such as webinars on certain topics and economic calendars.
- In addition to this, it offers blogs on a variety of subjects, such as profitable trading and the operation of markets, which assists investors in keeping up with the most recent risk-free trades, keeping track of market trends, and utilizing a variety of trading methods.
- This is the firm that comes highly recommended by us to first-time traders who want to get their feet wet.
- It only requires a $10 initial deposit, there is no cost for using the sample account, and there are many educational tools available through the "Olymp Trader's club."
Olymp Trade Affiliate Program KingFin Review
The Olymp Trade team provides consumers with a referral program that enables them to earn passive revenue online throughout the course of time spent trading with this broker.
- This online broker offers a partnership opportunity for those who are participants in the Olymp Trade affiliate program, allowing them to obtain this as a potential source of revenue.
- The investor has to begin the process of creating an account by going to the website's homepage and clicking on the link there.
- It will provide a link to the trader, so that they may email it to the other members of their family or their friends.
- They are eligible to earn between 50 and 60 percent of the total earnings made through the referral link when they join utilizing the link.
Olymp Trade App Review
This broker offers a mobile application that can be installed on tablets or smartphones as long as there is a constant internet connection; it is downloadable for both Apple and Google operating systems.
- This application is readily available for direct download from either the Google Play Store or the Apple app store.
- The mobile application for Olymp Trade has received great marks from customers, and it features a responsive design in addition to having the same functionalities as the website version.
- This suggests that traders who speculate using their mobile phones are not missing out on any features that would otherwise be available to them.
- Traders who are able to effectively trade financial products using their mobile devices are given a competitive advantage when they use this platform to trade actual financial instruments.
- Therefore, the Olymp Trade app is an absolute must.
Olymp Trade Precautions and Safety Review
This website provides the most up-to-date encryption standards for its customers, so they can rest certain that their data is secure.
- Because customers may add funds to their accounts by using a wallet, it is not necessary for them to supply their personal banking information in order to make a deposit; this information is already kept on the platform.
- This platform's user experience in terms of the deposit and withdrawal process has been controlled by the financial commission in order to protect users.
- If you want to pick a brokerage, the first thing you need do is choose the most reliable platform that is supervised by a regulatory organization.
- This business was granted a license and subject to regulation by the International Financial Commission (IFSC).
Olymp Trade's Assistance to Customers Review
This broker provides outstanding customer care in eight different languages, and it operates its customer service department around the clock, seven days a week.
- You may get in touch with the Olymp trading staff by e-mail, over the phone, or through live chat.
- Additionally, it has a Frequently Asked Questions area that can be seen on the website.
- This section is quite beneficial for consumers as it allows them to anticipate the correct answers to their questions.
- In the event that they were unable to locate a solution to any of their questions, they are encouraged to get in touch with the customer support number for Olymp Trade at any time.
- This number allows clients to receive rapid direction.
Review: Is it Okay to Engage in Olymp Trade in India?
Yes, Olymp Trade India operates within the law.
- Additionally, it is a participant in the regulatory organization known as Finacom.
- It is a regulatory organization that oversees a number of online trading brokers and makes certain that this web trading platform adheres to the regulations set out by Olymp Trade India.
Review: Is Olymp Trade a Risky Venture?
There is a laudatory review that claims Olymp is a trustworthy broker since the accounts of the investors are shielded from fraud by means such as limitations, KYC standards, and a number of other safeguards.
- A verification procedure, often known as KYC, should be carried out on a person whenever they register a new account.
- Additionally, this broker was registered with Finacom, which is one of the regulatory authorities that assists customers in protecting their financial assets.
Review: What Kind of a Broker Is Olymp Trade?
People are able to engage in risk-free trades with a minimum investment of ten dollars on the Olymp Trade broker platform, which is widely recognized as being the most popular online trading environment.
This platform has shown itself to be trustworthy and reputable for merchants who wish to conduct their business online ever since it was first introduced in 2014.
Review: What is the lowest amount that may be deposited into Olymp Trade?
Olymp Trade minimum deposit is €/$10.
Review: How Much Time Is Needed in Order to Withdraw Money From Olymp Trade?
The request is completed within twenty-four hours of being received; in many instances, this broker credits the cash within a short period of time.
On the other hand, if there is an issue of any kind, the process of withdrawing money can take up to five days or even longer.
Review: How Much Time Does It Take to Make a Deposit on Olymp Trade?
The monies that are deposited are promptly credited to the investor accounts; however, depending on the payment provider that the trader uses, there are certain instances in which the process might take anywhere from two to five working days.
Review: Is It Really Worth It to Open an Account at Olymp Trade?
According to a number of customer testimonials, Olymp Trade is among the most trustworthy brokers and consistently pays its clients.
The broker has to implement a modest
minimum deposit requirement of ten dollars so that clients may still make a
healthy profit from their trades.
That is it folks. Hope you loved reading this page. Be sure to share it around.
Thank you and godspeed in navigating these very complex and difficult-to-grasp financial markets.
Good luck with your trading adventures.
Learn more about Forex, Bitcoin, CFDs, and Stocks Trading in India.
Tweets by OlympTrade
Written by Swarna Shrivastav
I'm an investment banker. But I also write for, and fact-check articles published by ForexBrokers.co.in. Full Bio.
Copyright ForexBrokers.co.in. All Rights Reserved.