User Review( vote)
Founded in 2014, Olymp Trade is an online trading platform that not only presents an opportunity to earn, but also to learn. The team behind the online trading platform comprises the world’s best analysts, who are fully capable of developing innovative trading strategies. They also train traders on how to successfully implement these strategies through webinars and online meetings.
• Free training for experienced traders and beginners
• Sign in with Facebook or Google+
• Trade on iOS and Android smartphones and tablets and desktop computers
• Small selection of assets
• Few trading options
Olymp Trade is the winner of the following industry awards:
- Le Fonti’s Best Options Trading Platform (2016 and 2018)
- CPA Life Awards’ Best Financial Broker (2017)
- Forex Expo’s Best Options Broker Award (2017)
- IAFT Awards’ Innovative Broker (2017)
- KROUFR Awards’ Best Options Broker (2016)
- ShowFx World’s Fastest Growing Broker (2016)
- How Olymp Trade Works – Brief Guide to Trading
- Is Olymp Trade Reliable?
- Getting Started – Open Two Types of Accounts
- Become a VIP Trader at Olymp Trade
- List of Assets at Olymp Trade
- Making Deposits and Withdrawals
- How to Get Help and Information at Olymp Trade
- Our Take on Olymp Trade
How Olymp Trade Works – Brief Guide to Trading
Olymp Trade offers two varieties of options:
- Classic Options – Also referred to as Up Down Trades, they require traders to select not only the amount of the trade, but also its time frame.
- Time Options – These present a convenient and up-to-date way of trading on active markets. Traders can open a trade by selecting the expiry time of an option. If they make the correct prediction, they can increase their profits by as much as 92 percent of the amount they invest.
You can use time options for multi-trading. You can open as many trades as you wish, but the trading platform will close them all at the same time.
Olymp Trade offers three ways to trade:
The steps for digital options trading are as follows:
- Traders have to select the asset they would like to trade.
- They have to choose the amount they would like to trade as their profits depend a great deal on the investment amount. They can make as much as 100% profits on a trade.
- The next step is to choose a time frame and strike price.
- The trading platform compares strike price to asset price at the closure of a trade.
- Accordingly, up trades earn profits when asset price is more than the strike price and down trades earn profits when asset price is less than the strike price.
- Customers have to decide whether the asset price will rise or fall.
- Traders have the option of using a tool called Sell to close trades early and claim a refund before they expire.
The steps for time options trading are as follows:
- Select the Time tab and open the chart related to any asset of your choice.
- The option “time left for buyout” indicates the time left for traders to purchase the option.
- The option “time left for expiry” indicates the time left for the option to expire.
- Traders have to choose the time of trade closure.
- They have to then make a prediction.
- If their prediction turns out to be correct, they will make a profit.
- If they make the wrong call, it will result in a loss.
Olymp Trade offers a mechanism called pending trades, which enables customers to delay a trade or make a trade only when the asset price reaches a certain level. In other words, they can buy or sell options only when their pre-determined conditions are satisfied. However, this tool can be used only for classic options.
One of the best features of Olymp Trade is the free training it offers not only for beginners, but also for seasoned traders. This training comes in the form of video tutorials, online courses, and daily webinars. While beginners can learn the basics of finance, trading strategies, and trader psychology, seasoned traders can learn more about capital management and original trading strategies in addition to enjoying the benefits of analyst webinars.
Is Olymp Trade Reliable?
Being an A category member of the Financial Commission, Olymp Trade is a reliable online trading platform. Those trading on the platform report that its services are high quality and that the platform delivers excellent support, quick dispute resolution, and deposit insurance to all traders. Victims of fraud can claim compensation of up to €20,000 at Olymp Trade. In addition, customers can rest assured of quick assistance in case of problems.
Olymp Trade became a member of the International Financial Commission (FinaCom) in February 2016. The FinaCom accepts as members only companies that are known for their repeated demonstration of quality, reliability, and integrity. You can view the membership certificate on the Olymp Trade website.
Getting Started – Open Two Types of Accounts
Open a Free Demo Account
You can get started with a free demo account at Olymp Trade. Getting started is as simple as registering an account by clicking on the Free Demo Account with 10,000 in Virtual Funds tab. You will have to input your email address, create a password, declare that you are of the legal age for trading and agree to the terms and conditions by checking a box, and then click on the yellow Register button. You can then use your free demo account to learn all about trading without risking your own hard-earned money.
Open a Real Money Account
If you want to trade for real, you have to click on the menu symbol on the top left of the Olymp Trade website and then click on the Registration link.
An online registration form will appear on your screen, prompting you to input your name, email address, phone number, and create a password. You have to then select Dollar or Euro as your currency and check the box against the declaration that you are of the legal trading age and that you agree to the online trading platform’s terms and conditions. Finally, you have to click on the green Register button.
Once you have registered, you have to deposit a minimum of $/€1 to a maximum of $/€10. You are now ready to start trading. You will be pleasantly surprised to learn that you do not need to understand the complexities of trading or have in-depth market knowledge to start trading online. However, you do need some basic working knowledge of the market and you have to read the economic news regularly.
Trading options at Olymp Trade is as simple as choosing an asset, making an investment, setting a time frame for your prediction to be proved correct, predicting whether the price of your selected asset will rise or fall within that time frame, and then waiting for the trade expiry to find out whether your prediction will turn out to be correct and make you a profit.
The only downside is that you cannot delete your account if you find out that trading is not your cup of tea. You can only block it by calling +357 22007136 or sending an email to [email protected]
Become a VIP Trader at Olymp Trade
You can become a VIP trader at Olymp Trader, but you can get complete details about this only from a customer care representative. The information presented on the website is rather scanty, but one understands that VIP traders can enjoy benefits such as profits of up to 92%, personal VIP consultants, risk-free trades, exclusive strategies, and private VIP webinars.
List of Assets at Olymp Trade
Olymp Trade offers trading on the following assets:
- Currency pairs USD/JPY, EUR/USD, USD/CHF, GBP/USD, AUD/USD, USD/RUB, USD/CAD, EUR/RUB, EUR/CHF, EUR/JPY, and many others
- Stocks on international companies such as Google, Facebook, Boeing, Apple, Coca-Cola, Tesla, IBM, Microsoft, Starbucks, BMW, Nintendo, and Visa
- Commodities such as gold, silver, Brent, natural gas (NG), copper, and platinum
- Indices such as FDAX (DAX), ES (S&P500), NQ (NASDAQ 100), YM (Dow Jones), CAC 40, EURO STOXX 50, Hang Seng Index, RUSSELL 2000, Nikkei 225, and FTSE 100
- Crypto assets such as Bitcoin, ETH/USD, Ethereum, Bitcoin Cash (BCH), LTC/BTC, Ripple (XRP), Bitcoin Gold (BTG), Monero (XMR), Zcash (ZEC), Dash (DASH), Ethereum Classic (ETC), and Litecoin (LTC)
Making Deposits and Withdrawals
Olymp Trade displays its list of banking options only to registered traders. According to trader reviews, you can use a variety of methods including web wallets, credit cards, debit cards, and prepaid cards to load your account with funds for trading.
To withdraw your profits, you have to visit the withdrawal page from your dashboard, input the amount you wish to withdraw, and then click on submit request. The online trading platform says its processes payout requests fast, but usually, it takes up to five banking days. You can withdraw as little as $/€10.
How to Get Help and Information at Olymp Trade
Traders who need help and information at Olymp Trade have the options of clicking on a question mark symbol at the top right of the homepage or on the Support link at the bottom of the homepage.
Clicking on the Support link takes you to a page that offers company information, contact details, frequently asked questions, list of assets, how to start tutorial, and a glossary. Clicking on the question mark symbol opens a side window with options such as Ask a Specialist, video tutorials, and Assistant.
If you need to contact a customer support agent at Olymp Trade, you can use the following methods:
- Toll Free Number – Indian clients can use the toll-free number 0008000402044 on their mobile phones.
- Email – Traders can email their questions and issues to [email protected] to get a response within one working day.
- Live Chat – Click on the green Open Chat button on the support page to instantly connect with a customer support agent.
- Online Contact Form – Use an online contact form on the support page.
Our Take on Olymp Trade
Our research shows that Olymp Trade is a reliable platform. We couldn’t find any trader complaints on popular forums, indicating that the trading platform has mostly satisfied customers. According to figures on the homepage, the platform paid $9,449,968 to its customers in the last month and closed 36,476,772 trades during the last month.
At the same time, trading of any kind is risky, and we suggest that you understand the basics before plunging into it. Fortunately, you can get started with a basic demo account at Olymp Trade. The trading platform also provides free training, so you can also take it as an opportunity to get trained without risking your money.
Olymp Trade Review 2019: Is It Reliable Trading Platform or Scam?