Is Olymp Trade legal in India? – Review for Indian traders

Trading Digital Options in India has been tricky for most people to discuss. However, I will show you how you can trade Forex and Digital Options with a trusted broker.

I will also tell you more about the company and give you a comprehensive guide on how to safely trade and invest in the financial markets. And we will answer the question: Is Olymp Trade legal in India?

Regulatory warning: Olymp Trade is not legal in India

Recently, The Reserve Bank Of India published a document that shows trading platforms without authorization in India. Olymp Trade is one of them. That means Olymp Trade has no approval to operate in India for offering foreign exchange services. You can read the full document here: https://m.rbi.org.in/scripts/bs_viewcontent.aspx?Id=4183

Indian traders can still register on the Olymp Trade website and start trading. There is no update yet from the official Olymp Trades website about this warning. We will see in the future if the broker gets approved by the Indian government to offer its services legally.

Is it legal to trade digital options and forex in India?

It is perfectly legal to trade Digital Options and Forex in India. The Forex and Options market in India has grown over the past few years, attracting more retail brokers and Olymp Trade is one of them. The company has a website dedicated to Indian traders, which indicates the level of commitment to the market.

What is Olymp Trade? – Honest review for Indian traders

Olymp Trade is one of the leading international brokers for Digital Options and Forex. The company which is managed by Smartex International Ltd has been around for half a decade now. To show that it is safe for investors, Olymp Trade is regulated by the International Finance Commission (IFC). The compensation funds which cover the traders are one of the most significant advantages of the platform.

Olymp Trade has robust customer support that ensures that users are attended to at all times. One of the best perks of the platform is the availability of over 200 assets, including forex, crypto, stocks, and commodities.

This gives users a wide range of assets to invest and trade in at all times. The fact that Olymp Trade is regulated and the protection it offers to investors make it one of the leading Digital Options Brokers you can find in India.

Why you should open an account with Olymp Trade

• Regulated by the IFC
• Has a 24/7 customer support
• Offers over 200 assets
• It is open to Indian traders
• You can start with as a low as $10
• Users can take advantage of the demo account

Olymp Trade is a broker that is known internationally. The platform has 25,000 active daily traders all across the world in countries like Brazil, Malaysia, Indonesia or Nigeria. 

Does India restrict digital options and Forex trading?

Although trading is a very delicate topic in India, it is not illegal to trade Digital Options and Forex in the Asian country. Brokers can operate in the country without having to obtain licenses from regulatory agencies such as SEBI or RBI. Thus, Indians looking to earn extra income via the financial market can use Olymp Trade without any issues.

The fact that Olymp Trade has a platform dedicated to Indian traders shows just how serious they are about providing their services in the country. Customer support is available 24/7, and they have published numerous articles that would help beginners know how to navigate the financial markets.

Deposit and withdrawals for Indian traders

Olymp Trade has a minimum deposit of $10 on its platforms, India inclusive. Users can deposit and withdraw funds from the platform using various methods, and they don’t have any restrictions when it comes to either one.

Olymp Trade allows users to deposit and withdraw funds electronically and supports the following payment methods:

• Bank card (Mastercard and Visa)
• NETELLER
• Skrill
• Webmoney
• Fasapay
• Yandex Money
• Mastro
• QIWI WALLET
• ePayments
• Visa Electron

How do digital options work in India?

In India, just like in other markets across the globe, Digital Options and Forex Trading have emerged as excellent tools that allow people to make money from the financial markets. Short-term Options allow investors to bet on a market to either rise or fall. Thus, profiting when the event they predict comes to pass.

Digital Options offer users higher returns, most times upwards of 90 percent. The forex market meanwhile allows traders to trade currencies against each other. The performance of currencies will determine how traders make a profit in this market.

The win percentage in this market differs depending on the price movement of the currencies. The yield for both binary options and forex trading depends on the market situation.

Step by step guide:

• The first thing to do is to use professional trading tools to help determine the direction of the market.
• Register on the platform and choose the amount you wish to deposit
• Stake the amount you will invest and in the case of Digital Options, the expiry date of the trade.
• Decide your trading move, either Call or Put
• Earn profit or record losses after the expiry time.

Use the demo account to get acquainted with the platform

If you are just starting as Digital Options or Forex trader, I would advise you to use the free demo account Olymp Trade allows. The Digital Options and forex markets require knowledge, and it is essential that you learn about Olymp Trade and how the markets work. To understand things better, use the free demo account to test out new strategies.

Since the demo account is funded with virtual money, it doesn’t involve any risks. After you try out strategies and make profits with the demo account, you can start trading with your real account.

Expiry time for options trading

The binary options market allows people to choose a timeline for their predictions. For Olymp Trade India, the deadline ranges from just a minute to a month or even longer. The end of the expiry date will determine if you made a profit from a trade or not.

For a beginner, I will advise them to choose longer durations as short timelines are for traders with vast experience due to the nature of the markets.

Review of the support for Indian traders

Olymp Trade provides excellent customer support for clients in the country. As a trader, you can contact Olymp Trade via email, and they are available at all hours of the day to tend to your needs.

Asides from India, Olymp Trade has active customer support in a few other countries across the globe.

• Educational articles and posts to help beginners
• 24/7 customer support
• VIP section

Conclusion: Is Olymp Trade legal in India? – No, it is not at the moment

Olymp Trade is not legal in India at the moment. The RBI published warning information about the service of this broker. It is not authorized to operate in India. Indian traders can still sign up with the trading platform.

Olymp Trade is one of the leading international brokers that allows Indians to access the Digital Options and forex markets. They offer over 200 assets, including forex, stock, crypto, and commodities. They have robust customer support that ensures that users are attended to at all times of the day.

Olymp Trade is regulated by the IFC and has insurance that covers the users. Thus, it is an excellent way for Indians to make money from the financial markets.

If you want to get more into Olymp Trade, click here to get to know the best strategies for trading with the platform.