Olymp Trade Fees – How Much Does It Cost To Trade
Type of fees | Fees from |
---|---|
Deposit fees | $0 |
Withdrawal fees | $0 |
Inactivity fees | $5 |
Trading fees | $0 |
Olymp Trade is an internet brokerage firm that was founded in 2014. This financial brokerage is managed by Saledo Global LLC and is located in St. Vincent & the Grenadines. It is accessible to traders from over 30 nations worldwide.
In this article, we will take a closer look at Olymp Trade’s fees. How much does it cost to trade with the broker? An overview of all charges and costs.
See here an overview of all charges and costs:
Deposit fees: | No deposit fees |
Withdrawal fees: | No withdrawal fees |
Account maintenance fees: | No account maintenance fees |
Inactivity fees: | $10 monthly after 90 inactive days |
Fees on binary options trades: | No spreads, but commissions of up to 13.5% on the Advanced Account and 20% on the Expert Account. |
Overnight fees: | Variable, max.15% |
Currency conversion fee: | No currency conversion fees |
Market data fee: | No market data fees |
Trading platform fees: | No trading platform fees |
(Risk warning: Your capital can be at risk)
What you will read in this Post
Spread fees, commissions, and swap fees on Olymp Trade
The Olymp Trade charges commissions of up to 13.5% on the Advanced Account and 20% on the Expert Account. Olymp Trade is not a spread betting broker; spread betting fees will not apply.
The platform does not charge a spread list. Traders registering a real account with Olymp Trade are exempted from paying spread fees.
???? Commissions on deposits and withdrawals: | No commissions on deposits and withdrawals |
???? Commissions on trades: | Up to 13,5% – 20% |
???? Spread fee: | No spread fees |
???? Swap fee: | Apply |
Trading fees on Olymp Trade
The charge for conducting a Forex trade is based on the following factors:
- Amount of the transaction
- Multiplier
- Market situation
- Specific requirements
The top 2 reasons determine the position volume. For example, if you want to exchange a $10 at x50 multiples, the overall volume will be $500, and the charge will be calculated depending on this amount.
The current trading charge amount is displayed where the trade icon is positioned. Considering this, the ultimate payout may differ slightly owing to the context’s volatility.
The charge limitation is specified in the assets’ specification, which is a technical document that can be viewed on Olymp Trade’s website.
Trading fees for currency pairs
Olymp trade has no binary options fees on currency pairs, and you can choose from various forex pairs, including:
Currency pair: | Binary Options fees: | Minimum trade amount: |
EUR/USD | No | $1 |
GBP/JPY | No | $1 |
AUD/CHF | No | $1 |
USD/JPY | No | $1 |
GBP/USD | No | $1 |
NZD/USD | No | $1 |
Trading fees for cryptocurrencies
You can choose from three cryptocurrencies on Olymp Trade, all available without any spreads or additional fees.
Cryptocurrency: | Binary options fees: | Minimum trade amount: |
Bitcoin | No | $1 |
Litecoin | No | $1 |
Ethereum | No | $1 |
Trading fees for stocks
You have some of the most popular stocks available, such as Amazon, Apple, and Alibaba. Here, you can trade them again without having to pay any binary options fees.
Stock: | Binary options fees: | Minimum trade amount: |
Boeing | No | $1 |
Caterpillar | No | $1 |
Chevron | No | $1 |
Trading fees for indices
There are no binary options fees for index trading on Olymp Trade!
Index: | Binary options fees: | Minimum trade amount: |
Dow Jones | No | $1 |
NASDAQ | No | $1 |
S&P 500 | No | $1 |
Trading fees for commodities
Currently, there is only one commodity available on Olymp Trade, which is BRENT OIL. Expect to pay zero binary options fees when you trade that asset.
Commodity: | Binary options fees: | Minimum trade amount: |
Brent Oil | No | $1 |
About the Olymp Trade platform:
The platform is simple to use, with a strong emphasis on customer engagement. It’s sleek, well-organized, and has backlinks that make it elementary to discover whatever you’re searching for.
The Olymp Trade network is accessible through the website, a specialized desktop program (for Windows and Macintosh), and a mobile phone application (for Android/iOS). The site is easy to operate and offers clients just everything they require to know — not just to log their transactions but also to trade profitably.
The homepage has a simple, straightforward chart with numbers and timeframes that makes it easy to grasp. You can even customize these charts in terms of graphing style and color. Clients can find information about open/closed transactions, as well as an assistance facility, on the bottom of the website page.
This style turns out to be extraordinarily convenient for users to locate everything they require.
Fees and commissions on Olymp Trade-How much does it cost to trade
In the finance industry, there are a variety of fees. Brokerage firms are no exception; firms can levy extra fees on practically every client move.
In comparison to other brokerage firms, traders welcomed Olymp Trade’s charge policy in particular as the charges rates are low. In this section, we will educate you regarding the platform costs listed on the Olymp Trade trading platform.
(Risk warning: Your capital can be at risk)
Maintenance fees
Yearly maintenance charges are common practice for debit card and savings account owners. Brokerage firms may impose this fee as well as additional costs, such as deposit fees, online account maintenance charges, a safekeeping fee, and so on.
Olymp Trade doesn’t charge these costs. The inactivity charge is the sole fee that the site charges its clients.
This implies that when a user hasn’t done a real transaction on a genuine account in 3 months and hasn’t executed any deposits or withdrawals, the firm has the ability to levy the client a $10 inactivity or subscription charge.
All incentives will be canceled if there is no actual money in the brokerage account. However, if a user’s account is zero, there is no charge for the same.
Overnight charge
This is the type of fee that a brokerage imposes on leveraged trades (a multiplier.) It’s known as swaps, and it’s generally calculated based on differences between the bank’s interest rates of the nations whose currency a trader is dealing with.
Olymp Trade charges a predefined rate that is computed without considering interest compounding. The set charge is specified, and its value is restricted to 15% of the amount invested.
Fees for deposits and withdrawals
It is the most common type of charge encountered by traders. Several brokerage firms, for instance, charge up to $50 to transfer funds from a user’s bank account. Trading becomes expensive if a trader’s investment is smaller than a few thousand dollars.
Olymp Trade is among the few firms that do not collect fees for deposits or withdrawals from accounts. Such expenses are covered by the broker’s internal capital.
However, it is important to mention that certain banks or payment networks may charge a fee for transferring money to your brokerage account. As a result, we advise you to clarify these details with your financial institution.
(Risk warning: Your capital can be at risk)
Types of accounts and their fees
Traders can choose between two sorts of ‘real’ accounts after checking out the demo account. The following are some of them:
Basic Account
A $10 initial deposit is all that is required to start a basic account. Traders can start trading for as little as $1 and as much as $2,000. The minimum withdrawal sum is $10, and there are no limits on how much you may withdraw. Spreads on the regular accounts are typically about 1.1 pips.
Premium Account
Clients must deposit at least $2,000 to be eligible for a Premium account. As compared to the capabilities offered on a basic account, these account categories provide certain extra privileges. VIP account users can conduct trades for up to $5,000 and have access to a VIP adviser. These advisors are seasoned financial experts who can help you decide which transactions to execute.
VIP account owners get accessibility to special education resources that normal account users do not.
Although additional account categories would be useful, the majority of the clients will have to choose between a basic or VIP account.
Conclusion: Low commissions and no hidden fees with Olymp Trade
Summing up, Olymp Trade is a wonderful choice for new traders who want to understand the fundamentals. The firm’s learning and instructional tools are quite helpful and guarantee that users are well-prepared for future trading careers.
Investors may also trade in a variety of assets, like currencies, cryptos, equities, and commodity markets, using the platform. There are over 80 distinct alternatives to pick from.
However, it must be highlighted that the brokerage is not regulated anywhere in the globe, and client accounts are not protected, so traders must exercise caution while depositing money. Nonetheless, Olymp Trade appears to have a strong ecosystem of pleased users and long-term clientele by giving a comprehensive trading platform with a lot of additional benefits.
(Risk warning: Your capital can be at risk)
Most asked questions (FAQs) about Olymp Trade fees:
Do I have to pay for market data on Olymp Trade?
No! You do not have to pay for market data on Olymp Trade. All the necessary information is provided to you for free, ensuring one of the best trading experiences a binary trader can have. There are no hidden fees.
Are Olymp Trade’s fees high compared to other brokers?
No, Olymp Trade is one of the brokers that offer the lowest fees. The platform does its best to provide users with a good trading experience and to promote binary options trading. Compared to other brokers, their fees are quite low.
Are there any overnight fees on Olymp Trade?
Olymp Trade charges overnight fees (also known as swap fees) for positions that are held overnight. However, there is an Islamic account available, giving muslim traders the chance to participate in halal binary trading while respecting their religious values.
Are there any deposit or withdrawal fees on Olymp Trade?
Yes, deposit and withdrawal fees may apply at Olymp Trade. But there is a trick to avoiding them. Use alternative payment methods instead of Visa or Mastercard. For example, you can deposit with cryptocurrencies to avoid deposit and withdrawal fees. Then you will not pay any deposit/withdrawal fees and you will have more capital to trade with.
(Risk warning: Your capital can be at risk)