Olymp Trade is definitely an online broker which has been offering digital options and currency trading since 2014. This broker is regulated by the IFC and has over 25,000 traders making use of their platform everyday.
But could this options broker actually be trusted or is he just a scam? Continue looking over this Olymp Trade review to find out reality.
Trading Platform
Olymp is straightforward to navigate and extremely user-friendly. System looks clean and organized, with links making it readily available what you should want for. Will come your way Olymp Trade three different ways.
1. Their main website
2. A desktop application (designed for both Windows and Mac)
3. Phone application (for Android and iOS)
Being able to view your trades everywhere you look with a phone app is very convenient. This is particularly considering the site concentrates on fast, short-term trades. Their mobile app is responsive and contains precisely the same capabilities from the desktop and web version. Quite simply, trading off their phones are not missing out.
The Olymp Trade website is very straightforward, showing you exactly what you have to track your trades and turn into successful. They present an obvious, clear to see trade chart around the main page. You will see the timing and amounts alongside the chart, making it very easy to immediately understand. It’s also possible to get a new charts by choosing the type of graph and color. On the bottom from the page, there is information on open and closed trades as well as a help chat. The look allows users to view only what they need in the basic and clear presentation.
Countries and Availability
Olymp Trade just isn’t supported in the usa, Australia, Canada, EU, UK, Japan, or Israel. Olymp Trade can be an international broker service for sale in the subsequent regions:
• India
• Pakistan
• Middle East
• North Africa
• Latin America
• Southeast Asia
To match the demands of their large international market Olymp Trade can be found in the subsequent languages:
• English
• Spanish
• Arabic
• Chinese
• Thai
• Vietnamese
• Portuguese
• Malay
• Indonesian
• Hindi
Beginner Friendly
The most unique aspects of Olymp Trade is its concentrate on education for beginner traders. They are adamant about trading not only being for professionals, speculate an easily accessible income or hobby for any person. Their free educational training is targeted on teaching strategy-based trading. Guide familiarize users together with the arena of finance and the way to think being a trader. Members have accessibility to education in the form of:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They even can offer courses tailored towards experienced traders. Higher classes give attention to analyst webinars. These teach essentials like managing capital and trading techniques for the current market.
Another feature of Olymp Trade which makes it accessible for beginners could be the low deposits. The minimum deposit is set at $10, and also the minimum trade amount is $1. First time traders do not have to worry about losing a large investment. They’re able to make low risk trades until they feel more comfortable.
Temporary Trades
Olymp Trade targets short-term trades. These positions could be held as short as 15 seconds to three hours. The woking platform allows traders to pick a certain expiration time. This offers users with additional control over their trade. Glowing cancel a losing trade without notice. These unique features allow beginning traders to acquire their grip.
Free Demo
In addition to training materials, Olymp Trade offers free practice accounts. When you register, you obtain access to 10,000 virtual coins to play around with. This way, you never risk losing all of your a real income to get in the learning curve. The demo account can be another valuable feature for experienced traders to acquire a feel for the interface. You can view if it is best for your needs without having to invest real currency.
Varieties of Accounts
Following the initial demo account, there’s 2 different alternatives for accounts. You can attempt these out an individual will be ready to start investing real money.
Standard
To open up a typical account, you will need to deposit a minimum of $10. Yes, it is a suprisingly low minimum. Investors can trade at the least $1 as well as a maximum of $2,000. The minimum amount for withdrawal is $10, and there’s maximum. You’ll be able to only make one withdrawal for day. Withdrawals take around 72 hrs to process.
VIP
To be qualified to apply for a VIP account, you must deposit at the very least $2,000. This account provides additional benefits the conventional account won’t offer. The VIP account ups your maximum trading total $5,000. Another huge benefit is entry to a VIP consultant. VIP consultants are leading, experienced financial analysts. This too paves the way to additional tools to assist in your education and understanding of trading.
Security and Regulation
Before selecting a binary options broker, one of the main concerns needs to be their security. You shouldn’t invest your money using a site in which you do not feel safe. In February of 2016, Olymp Trade became an A-recognized part of the International Financial Commision (FinaCom). FinaCom is an organization that secures investors. When you use a platform secured by FinaCom, any unlawful acts are handled by up to $20,000.
Additionally it is crucial that you look for well-established platforms. Olymp Trade has around 25,000 people trading daily and a $171 million monthly turnover. They have also won numerous accolades including:
• Fastest Growing Broker – ShowFx World 2016
• Best Options Broker – Forex Expo 2017
• Best Financial Broker – CPA Life Awards 2017
• Best Trading options Platform – Le Fonti 2018
Assets
Experienced traders may find the volume of assets limiting. However, it’s convenient rather than overwhelming for those getting their feet wet in the arena of trading. It is up to you if you wish to target just one asset or choose a complete gang of assets. They currently offer 79 financial instruments, including:
• 36 currency pairs
• 5 ETFs
• 9 cryptocurrencies
• 13 stocks
• 6 commodities
• 10 indices
Olymp Trade accepts deposits using the following methods:
• Credit and debit cards
• Bank wire transfer
• E-payments such as Skrill and Neteller
• Cryptocurrency for example Bitcoin
Depositing costs nothing with no extra charges, with all the minimum deposit being $10. This makes the website easily accessible to everyone plus a start for starters. Funds deposit relatively fast, but wire transfers take more time than other methods. Cryptocurrency will deposit the easiest.
Withdrawals
The maximum withdrawal amount is dependent upon regardless of whether you use a VIP or standard account, together with the minimum always remaining at $10. Your funds go back to whatever payment method you accustomed to deposit the money. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take One day to a few days for traditional investors. It takes only some hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed issues with withdrawing their. Most of these issues could be resolved if you make sure your account is fully verified. This simply involves having your entire required personal data on record. The subsequent steps must verify your bank account and begin receiving payouts.
1. Uploading photo identification from an ID or passport. The photo should be out of your shoulders up and completely visible.
2. If you’re using a credit or debit card, you’ll want to scan the charge card that you will be using. The name, first 6 and last 4 digits must be visible. You only need to upload the front from the card not the trunk.
3. If you are using an electronic wallet (ex. Skrill), an image of one’s electronic digital purse is necessary.
Trade Types and Payouts
Many organizations offer 6 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 a more One day and therefore are ideal for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer support
Customer support is accessible 24/7 via email, live chat, or phone. With a VIP account, your customer service experience is much more phenomenal. In part, for the reason that Olymp Trade is maintained by FinaCom. Should they do not resolve an issue after 2 weeks, you’ll be able to file a dispute with FinaCom. Customer care is normally fast to settle any troubles before it grows to this aspect.
Olymp Trade Review Conclusion – Final Thoughts
Experienced investors might be disappointed with the lack of assets and trading options. However, Olymp Trade could still be an expedient selection for someone searching for binary trading with mobile options. The interface is made with new traders in your mind, spending some time to formulate education and an immersive demo. The limited options will make it less intimidating for freshies to leap into trading. And also the uncluttered, simple design and low deposit requirements allow it to be a beautiful selection for anyone seeking to get into trading.
To learn more about Olymp Trade app for Android check out this webpage.