MAIN BENEFITS AND SHORTCOMINGS OF THE OLYMP TRADE PLATFORM

Olymp Trade different platforms
Posted on 2 September 2021
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Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

Olymp Trade is one of the most widely used internet trading platforms for financial markets.
— Otto Green
OlympTrade appeared on the international trading arena in the second half of 2014. At first, the platform was focused on the Russian-speaking audience, so it is very convenient for traders from the CIS countries.

Based on the Olymp Trade reviews and expert opinions, the broker is popular due to its attractive trading conditions and friendly climate. The broker has the following main features:

  • A free demonstration account;
  • Initial investment is $10;
  • Unique trading terminal;
  • Support in several languages;
  • Maximum return is up to 92%;
  • Trades start from $1;
  • Execution time - from 1 minute.

For today, the platform has activated over 25 million trading accounts and registers over 30 million trades on a monthly basis. Currently the broker is present in 134 countries of Asia, Africa, Europe and Latin America. Keep reading this Olymp Trade survey to learn more about its attractive sides and shortcomings.
Olymp Trade on different platforms
Olymp Trade on different platforms

Olymp Trade Regulation

OlympTrade has membership in the International Fin Commission. It is a sign of the company's financial solvency and a high level of clients' confidence. What are the advantages of IFC?
FinaCom Olymp Trade license
Refunds
Commission compensates up to $20,000 in case of failure or other illegal actions of the broker. This system resembles the insurance of deposits in banks. So all funds traders deposit to Olymp Trade accounts are insured for up to $20,000. If the company declares itself bankrupt or for some other reasons cannot fulfill its obligations to you, then the lost funds will be reimbursed by the Compensation Fund.
Legal assistance
In the event of any disagreements with the broker, including legal proceedings, you have the right to apply to the Commission for qualified legal assistance.
Training
The broker's membership in the IFC means that all the materials necessary for training and raising the level of a trader are freely available on its website.

Sign up process

It will take you a few minutes to become a full-fledged user of the platform.
1
Go to the OlimpTrade official website
2
Enter your contact information and submit the form
3
The final step is to follow the link sent to you by email to verify your account
After your profile is completed, you can immediately start using a demo account entering your OlympTrade login and its password. Moreover, you can use various training materials and open a real trading account once you are ready to participate in live trades.

Furthermore, you can sign in to the site using one of your social network profiles data or as standard with Olymp Trade login and password.

Account types of Olymp Trade

Roughly, the broker supports a free training account and a paid trading account.

A free account is available to all registered users. In fact, it is a free trading simulator. In demo mode, you can view charts of assets, make transactions, however, instead of real funds, you will use virtual currency. The use of the demo account is not limited in time. In addition, if your balance drops below 5000 units, you can easily replenish it to the initial $10,000 in just a few clicks. The trading environment is identical to that on a real account. Therefore, in the training trading mode, you can test new trading strategies, which will then be effectively used when working with real investments.

A real trading account can be activated with only $10. Olymp Trade offers various privileges for your real trading account. You can change or status for a higher one if you top up your balance with $500, $2000, or more. Higher deposits will allow you to receive many different benefits for traders, have a look at the comparison table:
You should also know about these precaution measures:
Clients are prohibited from creating multiple accounts at once. In this case, technical support reserves the right to block all your accounts.
You can choose a currency only once, so be careful about this issue. This opportunity opens up to users during the registration of the account.
If a trader starts to make risky trades, for example, use scalping, additional restrictions may be imposed on him. This precaution is temporary and only lasts a few hours.

Additional services – VIP account

OlympTrade allows you to enjoy some privileges when you invest bigger sums. Thus, if you activate a VIP account, you will get a professional consultant at your disposal. This option is a perfect opportunity to get exclusive advice on financial markets. To become an owner of an account with advanced features, you must make a deposit of $2000 and more.

Other advantages of VIP account include:
Personal consultant;
development of a personal trading strategy;
risk-free transactions;
unique webinars and master classes from experts;
increased profitability on transactions from 82% to 90% on currency pairs.

Olymp Trade Platform

Olymp Trade has a strong proprietary platform that was developed on its request. But the choice is not restricted by this only option. OlympTrade makes it possible to trade via MetaTrader 4 and a mobile application.

Traders can speculate options or other tools on the platform. You can invest in financial products in over 200 different markets choosing currencies, crypto, shares, ETFs, and indices.

From the menu, you can choose the market you want. It is important to know the regular trading times of your asset because the yield will be higher.

The platform works in a non-stop regime and you can trade OTC assets or cryptocurrencies on weekends. You will also find many different cryptocurrency assets. Traders can make huge profits because the volatility of these assets is very high.
Olymp Trade platform
Olymp Trade mobile
Trading application interface
Offers for traders can be summed up:
Access to 200+ markets
Returns on investment are 92%
Various trading strategies
Currencies, Cryptocurrencies, Indices, Commodities, Stocks, ETFs
Trading 24/7
The software is well adapted for all devices. In other words, you can trade both from your desk and on the go. According to Olymp Trade review, it will literally take you minutes to learn how to trade in Olymp Trade because all functions are clearly shown in the interface. For more information, OlympTrade offers an educational center with webinars, strategies, tutorials and videos.
In general, this is one of the most convenient platforms for a trader. Continue reading to get an accurate overview of how it works.
Otto Green

Olymp Trade App

Mobile application is adapted for a smaller screen and touch control instead of a mouse and keyboard. The design and the trading controls have been optimized for mobile format. At the same time, mobile applications include the same basic and advanced features as the desktop version.
FinaCom Olymp Trade license
For traders using mobile devices, the Olymp Trade Market, Trader's Path, multi-accounts, etc. are available. Thus, their opportunities for making a profit are unlimited and they can achieve the same success as traders who trade through a computer.

The assets available in the Olymp Trade app are practically the same as in the desktop version of the platform. The same variety of assets are available to you. Some of the most popular ones are:
    Major pairs:
    EUR/USD, GBP/USD
    Stocks
    of industry giants
    Indices:
    S & P500, Dow Jones
    Metals:
    gold, silver
    Commodities:
    Brent, natural gas
    ETFs, cryptocurrencies
    and more
    According to Olymp Trade users' reviews, this mobile platform is one of the finest in the business, as evidenced by many accolades. At the 2019 Global Brands Awards, the broker received Best Mobile Trading Platform award.

    Customer support

    Traders usually underestimate the importance of technical support until they come across an issue they cannot solve on their own. Moreover, this OlympTrade review will show you that the broker values its customers and developed a powerful support service. You can reach a company operator in a number of ways:
    Online chat
    It is round-the-clock service
    Contact form on the site
    Describe your problem and leave your phone number. You will receive a call back and a suggested solution
    Email
    Send your query you support-en@olymptrade.com and get a reply within 24 hours
    Telephone
    +35725030996
    Social media pages
    Follow broker on Facebook, Twitter, and Instagram
    It is important to note that all the above channels really work without downsides.
    Otto Green

    Olymp Trade training service

    On the platform, you will have access to a huge educational center with training materials. You can learn about each indicator, news, as well as strategies and analysis. There are 300+ different videos for traders. Beginners will appreciate this amount of useful content.

    On the platform, you will have access to a huge educational center with training materials. You can learn about each indicator, news, as well as strategies and analysis. There are 300+ different videos for traders. Beginners will appreciate this amount of useful content.

    You can also join webinars. They are free to join live broadcasts made by professional traders. Webinars are held on various topics such as strategies or beginner guides. In addition, you can ask questions and chat with other traders.
    Olymp Trade mobile
    Instructional videos
    The most popular video lessons are:

    • How to trade
    • Trend indicators
    • Oscillators
    • Strategies
    • Webinars

    Therefore, it is highly advisable to begin your acquaintance with trading from this resource.

    Payment options

    There are many ways to deposit real money into the platform. Payment methods depend on your country of residence. Everyone is admitted to trading with only $10. It is enough to invest $1 for each trade.

    You will definitely find a suitable method for you:
    Plastic cards Visa / MasterCard
    Electronic systems
    Crypto wallets
    You can apply for withdrawal with any amount over $10. The broker does not charge any transaction fees regardless of the transfer method. But you may need to pay the fees of the bank or wallet service, so make sure to check it in advance.

    Another thing to note is a fee for keeping your account inactive for more than 180 days. In this case, you will need to pay $10 per month.
    Olymp Trade payment methods
    Olymp Trade payment methods

    Olymp Trade bonuses

    The broker allows its traders a lot of ways to increase their profits. You can receive either bonuses or use promo codes.
    The broker allows its traders a lot of ways to increase their profits. You can receive either bonuses or use promo codes.
    pocket option bonus
    Bonuses
    The bonus can be up to 100% from the deposit. For every newcomer there is a unique first deposit offer. Olymp Trading doubles your deposit for free. In addition, you can get a high bonus on further deposits. You will not be able to withdraw bonus money, but you can use the bonus to get extra profit and withdraw your profit, which was received with the help of bonus funds.
    Promo codes
    The promo code gives the user a one-time opportunity to receive this or that bonus. For example, a promo code will improve your chances to trade and avoid additional investments. It means that if you use a promo code for a 50% bonus, then the amount you will use to replenish your account will grow. It works like this - you send $50 to your account, and with the bonus you will get $75).
    Here is a quick overview on how to activate promo codes to fund your account.
    Log in to your profile and click the "Deposit" button. Select a deposit method and click on "Use promo code"
    Add the promo code on the page and activate it
    Enter the amount you want to deposit, and your bonus will be automatically added
    Log in to your profile and click the "Deposit" button. Select a deposit method and click on "Use promo code"
    Add the promo code on the page and activate it
    Enter the amount you want to deposit, and your bonus will be automatically added
    All promo codes can be found on the official site of the broker.
    All promo codes can be found on the official site of the broker.

    Olymp Trade platform summary

    Pros
    • Customer-oriented platform
    • A good range of various assets
    • Bonus system and promo codes
    • Exclusive training materials
    • Low minimum deposit
    Cons
    • Insufficient regulation
    • Additional fee for idle accounts
    Pros
    • Customer-oriented platform
    • A good range of various assets
    • Bonus system and promo codes
    • Exclusive training materials
    • Low minimum deposit
    Cons
    • Insufficient regulation
    • Additional fee for idle accounts
    After detailed study of the official website and analysis of the reviews on independent resources, it is fair to say that OlympTrade can be safely called a professional company that cares about its traders and image. We did our best to compare OlympTrade with other online trading platforms. Moreover, this broker will be a great start for beginners, as it has a free demo account and a lot of educational materials. The list of advantages significantly outweighed all the negative aspects, therefore, OlympTrade is highly recommended as a reliable broker.

    GENERAL RISK WARNING:

    CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage.
    87% of retail investor accounts lose money when trading CFDs with this provider.
    You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
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