Olymp trade online trading app review

OLYMP TRADE can be summarized as a trustworthy broker with a high trust score of 70 out of 100. OLYMP TRADE is regulated by FinaCom and offers leverage up to 1:500 with a minimum deposit amount of $10 USD.

Olymp Trade at a glance

🔍 Brokers NameOlymp Trade 📍 HeadquarteredSt. Vincent and the Grenadines 📅 Year Founded2014 🏛 Regulating AuthoritiesInternational Financial Commission (FinaCom) 🌐 Countries not accepted for tradeUnited States and United Kingdom ☪️️ Islamic Account (Swap Free)No – All accounts are Sharia compliant 📒 Demo AccountYes 💻 Institutional AccountsNo 💻 Managed AccountsNo 📊 Maximum Leverage1:500 💰 Minimum Deposit$10 💳 Deposit Options Credit/Debit Cards Neteller Skrill Bitcoin WebMoney FasaPay Bank Wire Transfer 💳 Withdrawal Options Credit/Debit Cards Neteller Skrill Bitcoin WebMoney FasaPay Bank Wire Transfer 📉 Platform TypesOlymp Trade Platform 📲 OS CompatibilityWeb browsers, Android, iOS 📊 Tradable Assets Commodities Stocks Indices ETFs Forex Cryptocurrencies 🌐 Languages supportedEnglish, Chinese, Portuguese, Spanish, French, Filipino, Russian, Malaysian, Indonesian, Turkish, Vietnamese, Arabian, Hindi, Thai, and more. ☎ Customer Service Hours24 hours a day/7 days a week 👉 Open a account👉 Open Account

• 4.7/5

Olymp Trade Review Revealed – A Key 21-Point Quick Overview

Finding a reputable OLYMP TRADE review local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source. Below is an in-depth review regarding OLYMP TRADE to help you make an informed decision before opening your account or trading on their platform.

Olymp Trade Overview

A Forex broker like OLYMP TRADE provides traders with access to one or more platforms that will allow them to buy and sell foreign currencies. Forex brokers are also known as retail or currency trading brokers. Retail currency traders in turn use these broker companies to gain access to the 24-hour currency market for speculation purposes.

Forex broker services can also be provided for institutional clients and large companies such as investment banks. OLYMP TRADE is a category A broker that has entered the online trading market in 2014.

With a team of world-class analysts, the broker developed original trading strategies and teach traders how to use them by means of open webinars and one-on-one consultations with traders.

OLYMP TRADE is a member of the International Financial Commission and has repeatedly demonstrated the according to the high quality of service. Customers are secured by up to a € 20 000 indemnification amount.

Olymp Trade Awards and Recognition

In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation. Such awards are usually mentioned with pride on the company website.

📍 OLYMP TRADE has accumulated the following awards during its years of service to traders:

➡️ Best Financial Broker at the CPA Life Awards in 2017

➡️ Best Trading Platform at Le Fonti in 2016

➡️ Best Broker at KROUFR Awards in 2016

➡️ The Fastest Growing Broker at ShowFx World in 2016

➡️ Best Broker at Forex Expo in 2017

➡️ Innovative broker at IAFT Awards in 2017

➡️ Best Trading Platform at Le Fonti in 2018

➡️ Best Trading Platform at The Forex Awards in 2018

➡️ Best traders FB community in Thailand at Traders Fair in 2018

Olymp Trade Account Types

A forex account is a trading account held by a trader with a company like OLYMP TRADE, that is issued with the primary purpose of trading through its platforms.

Usually, the number and type of accounts that a trader can open with a broker company differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose jurisdiction it operates.

Accounts usually differ in the way spreads or commissions are applied, what minimum deposit is needed to open that type of account, and certain services or advantages that account holders may get access to.

In the case of Muslim customers, special Islamic accounts, that is swap-free accounts, are offered that mirror the other account types, but which operate in accordance with Shariah law.

Olymp Trade Account Features

OLYMP TRADE offers the following account types:

Demo Account

OLYMP TRADE users can test out its platform with this free demo account before they decide to invest real money. A demo account comes pre-loaded with a balance of £10 000 virtual funds and offers all the options of a paid standard account.

Standard Account

To open a standard account, users need to deposit a minimum of £10. They can trade at a minimum of £1 and up to a maximum of £2 000. The minimum withdrawal amount is also £10, with no maximum withdrawals. This account offers spreads in the region of 1.1 pips.

VIP Account

To qualify for a VIP account, at least £2 000 must be deposited but this account offers some additional benefits to those available on a standard account.

VIP account holders may make trades up to a maximum of £5 000, and they also can access a VIP consultant who can provide advice on which trades to make. These consultants are experienced, financial analysts. VIP account holders can also access more training tools than those available to standard account holders.

• 4.7/5

Olymp Trade Deposit fees and deposit methods

OLYMP TRADE requires a minimum deposit of £10 to open a Standard Account and at least £2 000 to open a VIP account.

The website states that a variety of payment methods may be used to fund accounts, but little more information is given. It seems that credit cards, Neteller, Skrill, WebMoney, and Bitcoin may be used to fund accounts and withdraw money. A minimum of £10 can be withdrawn, but no maximum is stipulated.

Olymp Trade Fees and Spreads

The cost of trading depends on different factors like commissions, spreads, and margins. The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move. One pip is 0.01 for currency pairs with JPY as the term currency and 0.0001 for all other pairs.

The amount of money required in your account to open a position is called the margin and is calculated according to the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your account.

Commissions are the charges imposed by an investment broker on a trader for making trades on the trader’s behalf. The level of commissions depends on the asset being traded and the type of service offered by the broker.

Execution-only brokers, which do not involve in personal investment advice and give traders complete control over how they trade the markets, usually charge lower commissions.

While contract for differences (CFDs) trading is a form of derivative trading that enables traders to speculate on the rising or falling prices of fast-moving global financial markets, it’s trading on shares will incur commission. CFD trades on other markets has no commission but do wrap a spread around the market price of a certain instrument.

The benchmark EURUSD spread with OLYMP TRADE leveled at approximately 1.1 pips, which makes it one of the most competitive brokers in the marketplace. Spreads also vary according to the type of account the user holds, with VIP accounts offering lower spreads.

OLYMP TRADE charges a fixed rate overnight fee on overnight trades (limited to 15% of the total investment amount) but no account maintenance fee or any custodial fees. Based on the account type it may charge a subscription or inactivity fee if an account hasn’t been used within 180 days – typically $10 per month. OLYMP TRADE also charges a fee per trade.

Olymp Trade Leverage

Leveraged product trading magnifies a trader’s potential profit – but of course, also increases the potential loss. This facility that enables traders to get a larger exposure to the market than the amount they deposited to open a trade, is called leverage.

The amount of leverage is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that a trader has $1 000 in a trading account and is trading ticket sizes of 100 000 USD/JPY, that leverage will equate to 100:1.

Traders should always keep in mind that, although high leverage offered may be a plus point for the brokerage, but trading at such high leverage should only be attempted by experienced traders that know how to prevent big losses.

OLYMP TRADE allows its traders to use a maximum leverage ratio depending on the types of trade, up to 1:400. For the most popular forex pairs (such as the benchmark EURUSD), leverage is set at 1:30. Minor pairs such as NZDUSD, USDSGD, AUDCAD, EURNOK, and EURPLN have leverage of 1:20.

Olymp Trade Sign-up Bonus

Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.

The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader once the person has proved himself as an active trader.

Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile.

The European Securities and Markets Authority (ESMA) has also recently placed investor protection measures on the marketing, distribution, or sale of CFDs which prevent brokers to provide the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution or sale of a CFD, thus ruling out the offering of such bonuses.

According to the company website and other sources, OLYMP TRADE traders have access to bonuses from 20% to 50% for making deposits. The bigger the amount, the larger the bonus. It is not clear what the withdrawal conditions are within this agreement.

Olymp Trade Trading Platforms

The forex trading software, also called the platform, provided by a broker company to its clients to carry out their trades can be a multi-asset one that allows clients to trade forex as well as other asset classes like CFDs on stocks, stock indices, precious metals, and cryptocurrencies.

Some companies provide their own proprietary platform, which may benefit traders due to specific characteristics developed by specialists employed by the broker, while others prefer to provide the better-known platforms that were tried and tested through time.

If there is a choice, the trader should keep in mind what he would like to trade and find the platform that suits his needs best. OLYMP TRADE offers its own Olymp Trade platform with features that make it easy to use.

The Olymp Trade platform can be accessed via the web, a dedicated desktop application (available for Windows and Mac), and a smartphone or tablet app for Android and iOS. Features include a concise chart with amounts and timings, and the ability to be customized via graph type and color.

The mobile apps are highly rated with a responsive design and the same capabilities as the web version. Since recently OLYMP TRADE also provides the MetaTrader 4 platform.

Olymp Trade Markets, Products, and Instruments

Most brokers offer all or some of the following market instruments for trading:

Forex:

Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.

Commodities:

As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.

Indices:

Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes that measure the value of a specific section of a stock market.

Precious metals:

This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable.

Energy:

The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.

Cryptocurrencies:

📍 Tradable cryptocurrencies include the following:

➡️ Bitcoin (BTC) is the digital currency with the largest market capitalization and price levels and dominates 50% of the total crypto market cap.

➡️ Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.

➡️ Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.

➡️ Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system.

➡️ Bitcoin Cash (BCH) was created as a new version of the blockchain with different rules.

OLYMP TRADE offers different instruments depending on where a trader resides, but in general, traders can trade Commodities, Stocks, Indices, ETFs, Currencies, and Cryptocurrencies.

Olymp Trade Safety and Regulation

Before deciding to join a brokerage company to start trading, a potential trader needs to establish whether a broker like OLYMP TRADE is safe and secure to trade with.

One of the most reliable benchmarks to measure the safety of a brokerage is to establish which regulating authorities are watching and overseeing its actions and whether the company complies with those regulations. In general, a so-called “offshore” broker tends to have a less favorable reputation and potential traders should think carefully before investing with them.

Secondly, the safety of client’s funds should be guaranteed and in the case of the company defaulting or going bankrupts, a safety net of some sorts would come in handy to prevent customers from taking more losses.

OLYMP TRADE joined and is regulated by the International Financial Commission (IFC) in 2016 which guarantees monetary compensation of up to €20,000 if the decision of the authority on a dispute is not voluntarily executed by a member of the organization.

📍 For traders this means the following:

➡️ Legal assistance

➡️ Assistance in resolving your issue.

➡️ Free trading tutorials and information for every Financial Commission participant.

The OLYMP TRADE website uses up-to-date encryption to ensure that data remains safe.

Olymp Trade vs Juno Markets vs JFX Corporation – A Comparison

🥇 Olymp Trade🥇 Juno Markets🥇 JFX Corporation 💳 Minimum Deposit$10$100$2000 🎉 Bonus❌☑️❌ 💻 MT4❌☑️☑️ ☪️️ Islamic Account❌☑️☑️ 👉 Open a account👉 Open Account👉 Open Account👉 Open Account

Olymp Trade Customer Support

Potential traders need to be assured that the broker company they chose can offer the necessary support and help whenever they may need it. The ease with which such support teams can be contacted may also play a role when choosing a broker. The customer support team of OLYMP TRADE can be reached via live chat, emails, and phone. They offer support 24/7 in eight languages.

Olymp Trade Education and Training

Before starting to trade, potential OLYMP TRADE clients should arm themselves with all possible information and trading skills needed to be successful in the world of forex and commodity trading. If OLYMP TRADE’s website itself does not provide enough means, a trader should explore other information sources to obtain that skills and knowledge.

📍 OLYMP TRADE does offer an education page with sections on:

➡️ Trading Basics

➡️ Learn How to Trade in 30 Minutes

➡️ Forex Guide and Strategies

➡️ Fixed Time Trades Guide

➡️ FTT Strategies

➡️ Start Trading Using Technical Analysis and Advanced Technical Analysis

➡️ Start Trading Using Fundamental Analysis and Advanced Fundamental Analysis

➡️ Trend Indicators

➡️ Oscillators

Lots of webinars and a YouTube channel with videos in different languages are also available.

Olymp Trade Research

Potential traders need to be enabled to do as much as possible research about speculative trading before commencing to do it and while trading with a specific brokerage.

Trading successfully relies heavily on knowledge and understanding of the markets and the platforms offered by a broker, therefore research options offered by brokers form an integral part of its features when choosing the right company to trade with. OLYMP TRADE’s educational section offers ample research options even for more advanced traders too.

Olymp Trade Customer Reviews – TrustPilot

my opinion about the trading platform

I want to write my opinion about the trading platform. Apart from being a reliable broker with a solid customer security system, this company provides an excellent tool for trading. I am talking about FTT. For those who don’t know what FTT is on this company’s website. What I want to say is that I like the benefits that come with this trading mode.

Finally found the broker which…

Finally found the broker which completes my trading circuit and increases my power of my abilities. Compact and secure, which is all I need.

I traded here for a week before making…

I traded here for a week before making sure that I am getting al other accounts at different brokers empty and moving all the funds here. You know why?

– They have the most decent looking and colorful charts out there – They can really compete with other brokers in terms of trading costs – They really care about what customer service means

Olymp Trade Current Popularity Trend

According to Google Trends, here is an overview of how frequent the search term – “Olymp Trade” is entered into Google’s search engine.

Olymp Trade Pro and cons

✔️ Pros❌ Cons High leverageFees charged per trade Low minimum depositRegulation lacking

• 4.7/5

Conclusion

OLYMP TRADE is a popular broker with an intuitive user interface that makes trading easy. Its benefits include attractive spreads, leverages of up to 1:400, multilingual support, the availability of MT4, many assets to choose from, low minimum deposits, and a user-friendly mobile app.

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Disclaimer

OLYMP TRADE warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors.

Before clients decide to trade the products offered by OLYMP TRADE, they are advised to contemplate their investment objectives, financial situation, needs, and level of experience carefully before investing money that they cannot afford to lose.

Especially when traders use OLYMP TRADE’s leveraged accounts, they should make sure to maintain a sufficient level of margin to sustain their positions, since trading Forex/CFD and Options on margin and using a higher than necessary leverage can be either beneficial or detrimental to a trader. It is always possible to sustain a loss of some or all of an initial investment.

While OLYMP TRADE promises to make all efforts to fill a trade at the requested price, trading online does not necessarily reduce risks associated with currency trading, therefore quotes and trades are usually subject to the terms and conditions of a Client Agreement, which is accessible through the broker’s website.

Potential traders should first acquaint themselves with all these associated risks and seek advice from an independent financial advisor.

Olymp Trade Risk Management

Olymp Trade is a financial services company that provides online trading services for forex, stocks, and other securities, including risk management. Risk management refers to the process of identifying, assessing, and managing the potential risks associated with trading in financial markets.

Olymp Trade may offer a range of risk management tools and services, such as trade analysis, market analysis, and risk management strategies, to help clients manage and mitigate the risks associated with online trading.

Additionally, Olymp Trade may offer its clients the ability to set stop-loss orders, which are orders that automatically close a trade when a certain price level is reached, as a way to manage and limit potential losses.

Frequently Asked Questions

What is Olymp Trade?

Olymp Trade is a digital online trading platform that offers trading in a variety of financial markets including Forex, stocks, indices, commodities, and cryptocurrencies.

Is Olymp Trade a regulated company?

Olymp Trade is regulated by the International Financial Commission (FinaCom) and has received several awards for its services and innovative approach to digital trading.

What type of trading platforms does Olymp Trade offer?

Olymp Trade offers its own proprietary web-based and mobile trading platforms, with features such as interactive charts, technical analysis tools and a wide range of indicators.

Is Olymp Trade is a trusted app?

Yes. Olymp Trade operates in a regulated environment and provides the risk mitigation tools necessary to make trading on our platform as safe as possible.

Can you really make money on Olymp Trade?

Despite tough competition, Olymp Trade provides a number of unquestionable benefits: Initial deposit starts from 10 dollars. This is a great opportunity to make your first orders, withdraw profits and make sure that the company is financially reliable.

Is Olymp Trade legal in US?

This broker is not regulated by any authorities in Europe, North America, or Asia. However, it is a member of the Finance Commission (FinaCom), an external dispute resolution body in the field of online trading. Olymp Trade is registered as an A-class broker with this commission.

What are the disadvantages of Olymp Trade?

👎 Disadvantages of OlympTrade:.

few trading instruments;.

no tournaments or contests for traders;.

delays when withdrawing funds;.

few deposit and withdrawal methods;.

no investment programs;.

only two trading platforms;.

different trading conditions for different assets..