Olymp Trade is a trading platform, and like every other trading platform, it allows people to invest and earn money. This company has been providing service to the people since 2014, and it has offered reliable service to the people who are interested in trading.
Olymp Trade is a leading trading platform, and it is regulated by the IFC (International Financial Commission). Olymp Trade provides a user-friendly interface and custom-built trading platform that is easy to use. Olymp Trade is suitable for both the beginners who have recently started their trading journey and professionals.
Olymp Trade allows the people to have fixed-time trades on assets, and the payout is up to 90%. Recently Olymp Trade has offered forex trading to its customers, seeing the growing demand for forex trading. You can have fixed time trades that range from 1 minute – to 3 hours. Olymp Trade provides educational help to people with trading and strategies.
Users can get trading materials for free on different trading indicators and strategies. For beginners, free webinars are extremely helpful to start fixed-time trades. You can trade forex, Bitcoins, and CFD easily on Olymp Trade and book a profit from the price fluctuations. So, let’s have a look: Is Olymp Trade legal in Malaysia?
What you will read in this Post
Olymp Trade platform overview
Olymp Trade platform is designed by experienced programmers. The traders and analysts constantly work together to improve the functionality of the platform. Trades can get accessed 24/7, and here are some of the unique features that can be beneficial for traders.
- You can easily select from various types of charts- Heiken Ashi, Aerea Chart, Japanese Candlesticks, and Bars.
- Olymp Trade allows choosing from a wide range of indicators- Ichimoku cloud, Donchain channel, RSI, Stochastic, Bollinger bands, ZigZag.
- Some of the drawing tools can be helpful to analyze the chart.
A risk-free trading platform with demo money
Olymp Trade is undoubtedly being the best trading platform for beginners because it provides risk-free trading. The risk-free demo account helps beginners to learn trading and the features of the platform.
Olymp Trade gives 10k virtual money on a demo account as soon as the users sign up with Olymp Trade. This is a way to welcome the beginner and give them an opportunity to learn everything without investing money.
Is Olymp Trade legal in Malaysia?
Many people have questions about “is Olymp Trade legal in Malaysia?” The answer is yes. Olymp Trade gives a wide range of benefits to traders around the world, including Malaysia. Olymp Trade finishes due diligence of all traders to avoid scams and money laundering.
Olymp Trade proceeds the money withdrawals and the fund deposits by maintaining the highest standards of security and safety. But you are responsible for tax liabilities for the money you are making from trading. Make sure to look into more legal aspects of fixed times trading in Malaysia.
Regulation for trading in Malaysia
If you are wondering about “how can I use Olymp Trade in Malaysia?” or is it legal to trade in Malaysia or not, then you must know the legal status first. You should know that Bank Negara Malaysia declared in February 2012 that selling and buying foreign currency is legal in Malaysia.
But you will be able to trade only with Islamic banks, licensed commercial banks, international Islamic banks, and investment banks. There are three laws and regulations that you must obey to start forex trading in Malaysia. If you are a trader, then you must understand these regulations while trading.
#1 The Exchange Control Act of 1953
According to this act, there will be general restrictions on the foreign exchange by the non-residents and residents. Additionally, the non-residents will not face any restrictions to invest in Malaysia to purchase land property, securities, and ringgit assets. Also, you can transfer all profits, divestment, and returns from their investment.
#2 The Security Commission Act of 1993
According to this act, the security commission has the power to regulate license and other dealing securities, and it has the recent updates of 2017.
#3 The Money Changing Act of 1998
This act allows licensing and regulation of money-changing businesses. Under this act, an individual with a license under the exchange control act 1953 can purchase and sell foreign currency. And it is one of the most important acts for traders.
All these three acts show that there is no restriction for trading in Malaysia. The trading system and regulations in Malaysia have changed over the years, and now it offers so many advantages for traders.
Securities Commissions of Malaysia
The securities commission act of 1993 gave rise to the Securities Commissions of Malaysia. This team is only answerable to the finance minister of Malaysia. The main job of this team is to regulate the businesses that deal with securities in Malaysia. Some other functions of the team are following:
- To supervise the clearance, exchanges, and central depositories
- To approve the corporate bond issues
- Regulation of everything that is related to futures contracts and securities.
Regulation of Olymp Trade
If you are signing up for any trading platform, then you must know about the regulation. There are many fake companies available in the market that focus on stealing money from people.
But Olymp Trade is a regulated company, and this trading platform has been regulated by the IFC (International Finance commission) since 2016. Most of the forex brokers are regulated by this authority. Olymp Trade is in the category “A” that shows the safety and advantages for the customers.
Category “A” also means that the Financial Commission Guarantees compensation in case of any problem. And the funds of the traders will be safe in case of any problem arises, or the bank goes bankrupt. Anyone can contact the Financial Commission in case of any problem.
Additionally, the regulator verifies the broker’s trade execution. Suppose there is an order of more than 5,000, then it will be executed by the employees of IFC. IFC is based in London, and this international authority is for the international brokers.
Review of Olymp Trade for Malaysian traders
Olymp Trade in Malaysia offers various tools to the users, such as charts, education, indicators, and many more. These tools can come in handy while trading.
One of the main advantages of Olymp Trade in Malaysia is the clean and intuitive surface. It is easy to organize, navigate and there are all the features available for a good trading experience. This trading platform can be accessed from Mac, windows, desktop, mobile, and web.
The website of Olymp Trade is easy to use and straightforward. Users can customize them with various types of area charts, Japanese candles, Heikin Ashi, bars, colors, and indicators.
Just like the other trading application in Malaysia, the mobile Olymp Trade is highly optimized. It has a great design and high ratings from the app stores. The features are the same as the web versions and desktop. So, by choosing mobile as a medium for trading, people will not miss out on anything.
The only disadvantage of using the mobile platform is that the screen is not big as the PC or laptop. So, it gets tough to keep track of things and a high amount of information. But the traders will not face any other problems. Traders can trade a lot of assets such as stocks, currency pairs, metals, commodities, and so on.
In Malaysia, currency pairs are the most popular assets in Olymp Trade. The pairs give information about the price ratio of the two currencies.
The stock indices are related to the stock market that represents the price of the investment portfolio: for example, Hang Seng Index and EURO STOXX 50.
Malaysian traders can earn a profit by trading in gas, oil, and other resources like silver, gold, copper, platinum, natural gas, and BRENT. And the stocks securities of huge corporations include Boeing, Tesla, Google, Apple, and more.
Now Olymp Trade has added cryptocurrency assets for Malaysian traders. The traders can Ethereum Classic, Ripple, Litecoin, Dash, ETH/BTC, Bitcoin, Zcash, trade Ethereum, LTC/BTC.
Olymp Trade gives a demo account to all the users who sign-up for this trading platform. The main motive of the demo account is to teach users how to use it properly and to improve knowledge and skills. Malaysian traders can get a free demo account to learn the key things about trading. Of course, there are no bonuses available with the demo account.
In the standard account, a user has to deposit a minimum amount of $10. After this deposit, you will get $10,000 virtual money to your demo account. Before trading real money, try to learn everything with the help of demo account money. Once you get an idea of how it works, you can start your investment.
As we have mentioned earlier, the Olymp Trade is also available as a mobile app, and you can trade through the mobile phone if necessary. Most of the traders prefer to trade with tablets or mobile compared to a computer.
Olymp Trade has an easy interface for mobile that makes trading fun. The people in Malaysia can download the app from the app store.
The Olymp Trade mobile app is available on both Android and Apple stores.
The mobile version of Olymp Trade functions in the same way, and there is no difference between the desktop and this app. The best thing about using the mobile version is that you can get access to your portfolio anytime you want. You can also use the indicators, chart types, and analytic tools as well. The fees are also the same.
Chart types and indicators
Olymp Trade in Malaysia offers so many features to the traders for an amazing trading experience. Here the trades can do technical analysis through the charts and indicators. Apart from that, Olymp Trade gives a wide range of tools for analysis. Traders can also take the help of fundamental news for trading.
If you click on the chart in this trading platform, then many indicators will open. Here you will be able to access more than four chart types for trading. To get fundamental data, you can click on the menu as well.
Fixed Time Trades trading
Many beginners don’t know how to make money on Olymp Trade. That is what Olymp Trade has introduced to this tutorial so that the beginners won’t face any issues. Fixed-time trading is a very popular concept in the trading world.
Here the investors take a 50/50 chance to make money. Here either you can get either get profits or end up losing money. This can be risky; that is why understanding this concept is crucial.
How to open a trading account in Olymp Trade Malaysia?
Every user has to open an account on the Olymp Trade platform to start trading. Opening an account is an easy process, and it involves these easy steps.
- Open the Olymp Trade platform.
- Then click on the start trading option.
- Then give your phone number and email, then your account will be verified. Create a strong password and pick the currency you want to trade with.
- You can make deposits in Olymp Trade through e-wallets, bank cards, and cryptocurrency.
- You can withdraw from your account whenever you want.
What is the minimum deposit of Olymp Trade in Malaysia?
The deposit for every country is different, and you can check it by clicking on the “Deposit” button, then “Deposit Amount.” For most countries, the minimum deposit is $10.
The minimum deposit is the amount you have to pay to start trading, and you can always check it.
Olymp Trade deposit methods in Malaysia
While trading in Malaysia, the traders can use various simple and easy payment methods for the deposit of funds in the Olymp Trade account; Olymp Trade allows them to deposit the amount instantly.
Traders in Malaysia can use a debit card, credit card for deposits. Additionally, there are other methods for deposit as well.
Money withdraws in Olymp Trade Malaysia
If you have doubts like “Can I withdraw money from Olymp Trade in Malaysia?” then don’t worry at all.
Withdrawing money from Olymp Trade in Malaysia is an easy process. The trader needs to follow the simple steps, but before that, they need to verify the account. Verification takes a little extra time, and this is one for security purposes so that no one will be able to take your money. The verification will be possible only if all the details are true; otherwise, it will take some extra time.
Steps for money withdrawal
- Go to the withdrawal section of the Olymp Trade platform.
- Choose a method in which you want to receive your money. Money withdrawal can be possible in the same ways you have deposited money. It means you can withdraw your money straight to the e-wallet or bank account.
- After selecting the payment method, proceed with the request and then fill in the details. After completion of this process, you will receive money in a short period of time. But the time you have to wait depends on various factors such as proper verification, the accuracy of data. In most cases, it takes one day, and in the worst case, it takes five days.
Another thing to remember is that Olymp Trade only allows a minimum payout of $10, depending on the currency of your account.
Support to the Malaysian traders
Olymp Trade offers all the features to Malaysian traders for a better trading journey. Olymp Trade uses the latest encryption to make sure the data are safe and secured.
The traders can get access to a wide range of tools that make the trading smoother. Olymp Trade platform provides 24/7 customer support to the Malaysian people.
Is Olymp Trade legal in Malaysia?
Yes, Olymp Trade is legal in Malaysia.
Can I withdraw money from Olymp Trade in Malaysia?
Yes, you can easily withdraw money from Olymp Trade in Malaysia.
How can I use Olymp Trade in Malaysia?
You can use Olymp Trade in Malaysia with your phone, tablets, or PC.
Can I trade on Olymp Trade in Malaysia?
Yes, you can trade on Olymp Trade in Malaysia.
There is no doubt that Olymp Trade is one of the best trading platforms for Malaysian traders. Here you see all functions and details of the Olymp Trade platform. Now you have a complete idea about why you should sign up.
Olymp Trade offers a safe platform to trade, with good traditional conditions. This software is designed to give a wonderful trading experience. You can also customize the chart for your trading strategies. And you don’t need to have a lot of money to start your trading journey.
In conclusion, Olymp Trade justifies why it has gained so much popularity over the years. Traders can get so many features and get fast access to the financial markets. Now it is one of the most trusted and recommended trading platforms for Malaysian users.