Olymp Trade was founded in 2014 and has since grown and become one of the most well-established internet brokers. It strives to develop its services on a regular basis and to provide an easy-to-use and reliable trading platform for its customers. This platform is widely regarded as among the most respectable and well-known brokers in the industry, and it has garnered numerous forex awards over the years.
Read the Olymp Trade review in-depth, though, to become familiar with all of the platform’s offerings and get to know: Is Olymp Trade a gamble or not?
What you will read in this Post
What is Olymp Trade?
The Olymp Trade platform is simple to use, and there is a strong emphasis on providing a positive user experience. It’s clean and well-organized, and it includes links that make it really simple to find what you’re looking for on the site.
There are three different ways to use the Olymp Trade platform: over the web, through a specialized desktop application (available for Windows and Mac), and through a smartphone/tablet application (Olymp Trade App available for Android and iOS).
The website is easy to navigate and provides users with all of the information they require — not only to track their trades but also to trade effectively.
On the main page, there is a clear, succinct chart that includes numbers and timeframes, which makes it easier to grasp what is going on. Charts could also be customized by selecting a graph type and a color scheme. Data on active and closed trades, as well as a help/chat option, are located at the bottom of the web page for users’ convenience.
Olymp Trade regulation
As previously stated, the International Finance Corporation (IFC) is the formal regulator of the company. When compared to other fixed-time trade brokers, this is a significant benefit. It is the most crucial factor to consider before making a financial investment with an online broker. The International Finance Corporation (IFC) is a global organization with offices in England as well as Hong Kong.
Category A regulates the activities of the broker. This is the most prestigious classification. The trading technology, as well as the dependability for customers, are scrutinized by the regulatory body.
They would lose their license if they violated the terms of the agreement. Traders who are experiencing difficulties with a broker can contact the IFC for assistance. The International Finance Corporation (IFC) is a neutral supporter who would also clear this matter of objections.
For its traders, Olymp Trade provides excellent tools, indicators, features, financial instruments, educational resources, and excellent customer service, among other things.
This platform is suitable for both novice and experienced traders, and it provides high-level security in accordance with industry requirements.
It also offers free binary demo trading, which allows investors to get a feel for the market before committing their funds to actual trading.
The terms and conditions
Olymp Trade provides you with a risk-free demonstration account. To begin trading using real money, you must make a deposit of at least ten dollars. Deposit bonuses that double your money are available on occasion, and risk-free trades are also available.
The minimum starting value for a trade is one dollar, and the maximum starting amount is two thousand dollars. VIP accounts are permitted to trade with a maximum of 5000$ in a single transaction.
On the site, traders can trade in over 200 different asset classes at the same time. The deal execution has surpassed my expectations in a very short period of time. When dealing with regular accounts, the yield/return can range between 75 and 95%. You can earn larger returns in the VIP Account, up to 92% and higher. To summarize, Olymp Trade provides a trader with all of the alternatives he requires.
Regarding fees, Olymp Trade charges a set rate overnight fee for overnight trades, which is restricted to 15% of the entire investment amount. Olymp Trade does not charge commissions.
While the brand doesn’t really charge an account maintenance cost or any custodial fees, if you’re not using your account within 180 days, you might well be charged a subscription price (depending on your account type) or an inactivity fee depending on the circumstances.
This usually amounts to $10 each month. It is possible that the account would be closed if there is insufficient money available.
In addition, Olymp Trade charges a fee for each trade in the forex mode, which is based on the size of the trade, the multiplier, the specification requirements, and the current market position.
It should be noted that the site also gives users a free sample account, which includes 10,000 virtual dollars, which is available to them as soon as their account is created. Beginners will appreciate the fact that this platform offers a free demo mode, which allows them to experiment with a few trades.
Additionally, there really is no time limit to take into consideration when using the free demonstration. Investors and users of this platform have the freedom to experiment as much as they like without having to risk their money.
Deals and promotions
According to the Olymp Trade service agreement, the company claims to provide trading bonuses. However, the broker doesn’t really specify what the withdrawal criteria are in this service agreement, which makes it difficult to determine what they are.
It’s important to remember that trading bonuses are really prohibited in the EU as well as in other regulated markets, mostly due to the additional withdrawal requirements and stipulations that are tied to the bonus. This is frequently expressed in the form of a minimum trading volume requirement, which might be prohibitively difficult – even for experienced traders – to meet.
Olymp Trade gives new users promo codes on a regular basis, allowing them to take advantage of incentives of up to 50%. New users will earn a 50% bonus on Olymp Trade at the end of their initial deposit if they sign up using these promotional codes throughout the registration process.
However, it is important to consider the terms and conditions of these incentives, as well as if it is advantageous to take advantage of them in terms of the amount of money you deposit.
Conclusion: Is Olymp Trade a gamble?
To summarize, we can say that perhaps the Olymp Trade platform is among the finest brokers that offer a proprietary trading platform that is straightforward and easy to use for its clients. It provides investors with a streamlined technology as well as an easy-to-use interface that allows them to master the art of profitable trading.
It provides traders with a variety of trading tools that allow them to maximize their earning potential when trading just on the platform. It is the most suitable alternative for beginning traders who wish to understand the fundamentals of successful trading. This platform also provides training and instructional materials that are beneficial to investors who are interested in learning more about trading on the platform.