Olymp Trade is surely an online broker that is offering digital options and foreign currency trading since 2014. This broker is regulated by the IFC and contains over 25,000 traders using their platform everyday.
But can this binary options broker really be trusted or are they simply a scam? Continue looking over this Olymp Trade review to determine reality.
Trading Platform
Olymp is straightforward to navigate and intensely user-friendly. The platform looks clean and organized, with links which render it readily available what you deserve for. Will come your way Olymp Trade three various ways.
1. Their main website
2. A desktop application (available for both Windows and Mac)
3. Phone application (for both Android and iOS)
Being able to view your trades everywhere you look by way of a phone app is extremely convenient. This is especially taking into consideration the site focuses primarily on fast, short-term trades. Their mobile app is responsive and it has the same capabilities with the desktop and web version. Basically, trading from their phones aren’t getting left behind.
The Olymp Trade website is very straightforward, revealing what exactly you need to track your trades and turn into successful. They present an obvious, straightforward trade chart for the main page. You can view the timing and amounts plus the chart, making it easy to immediately understand. You may also modify the charts by selecting the type of graph and color. On the base with the page, there is certainly information on open and closed trades and also a help chat. The style makes it easy for users to determine only what they really want inside a easy and clear presentation.
Countries and Availability
Olymp Trade is just not supported in the United States, Australia, Canada, EU, UK, Japan, or Israel. Olymp Trade is an international broker service accessible in these regions:
• India
• Pakistan
• Middle East
• North Africa
• Latin America
• Southeast Asia
To fit the requirements their large international market Olymp Trade will come in the following languages:
• English
• Spanish
• Arabic
• Chinese
• Thai
• Vietnamese
• Portuguese
• Malay
• Indonesian
• Hindi
Beginner Friendly
Probably the most unique aspects of Olymp Trade is its target education for beginner traders. They may be adamant about trading not merely being for professionals, but because an easily accessible income or hobby for anybody. Their free educational training concentrates on teaching strategy-based trading. Help familiarize users with the whole world of finance and how to think like a trader. Members gain access to education as:
• Interactive courses
• Strategies from experienced financial analysts
• Video tutorials and webinars
They will offer courses tailored towards experienced traders. More complex classes focus on analyst webinars. These teach essentials for example managing capital and trading strategies for the existing market.
Another feature of Olymp Trade that means it is available for beginners is the low deposits. The minimum deposit is placed at $10, as well as the minimum trade amount is $1. First time traders don’t have to bother about losing a sizable investment. They are able to make safe trades until they feel much more comfortable.
Short-term Trades
Olymp Trade focuses on short-term trades. These positions could be held as short as Just a few seconds to a few hours. The woking platform allows traders to decide on a certain expiration time. This gives users more control over their trade. They may also cancel a losing trade whenever you want. These improvements permit beginning traders to get their foot in the door.
Free Demo
As well as training materials, Olymp Trade offers free demo accounts. Once you register, you get usage of 10,000 virtual coins to learn around with. In this way, you never risk losing many real money while getting in the learning curve. The demo account is also a valuable feature for experienced traders to obtain a sense of the interface. You can view when it is good for you without needing to invest real currency.
Types of Accounts
Following your initial demo account, there’s two different alternatives for accounts. You can attempt these out an individual will be ready to start investing actual money.
Standard
To open up an ordinary account, you need to deposit at least $10. Yes, it is a minimal minimum. Investors can trade at the least $1 along with a more $2,000. The minimum amount for withdrawal is $10, and there’s no maximum. You can only make one withdrawal for day. Withdrawals take around Three days to process.
VIP
Being eligible for a VIP account, you should deposit a minimum of $2,000. This account provides additional benefits the standard account doesn’t offer. The VIP account ups your maximum trading total $5,000. Another huge benefit is entry to a VIP consultant. VIP consultants are leading, experienced financial analysts. This also paves the way to additional tools to help in your education and idea of trading.
Security and Regulation
Before selecting a binary options broker, one of your main concerns needs to be their security. You shouldn’t invest your money having a site in places you tend not to feel safe. In February of 2016, Olymp Trade became an A-recognized an affiliate the International Financial Commision (FinaCom). FinaCom is an organization that secures investors. When using a platform secured by FinaCom, any unlawful acts are addressed by as much as $20,000.
It’s also vital that you seek out well-established platforms. Olymp Trade has around 25,000 people trading every single day plus a $171 million monthly turnover. They also have won numerous accolades including:
• Fastest Growing Broker – ShowFx World 2016
• Best Options Broker – Forex Expo 2017
• Best Financial Broker – CPA Life Awards 2017
• Best Trading options Platform – Le Fonti 2018
Assets
Experienced traders might discover the quantity of assets limiting. However, it’s convenient instead of overwhelming for all those getting their feet wet in the realm of trading. It really is your choice if you wish to focus on an individual asset or choose a full band of assets. They currently offer 79 financial instruments, including:
• 36 currency pairs
• 5 ETFs
• 9 cryptocurrencies
• 13 stocks
• 6 commodities
• 10 indices
Olymp Trade accepts deposits using the following methods:
• Credit and debit cards
• Bank wire transfer
• E-payments such as Skrill and Neteller
• Cryptocurrency such as Bitcoin
Depositing is free with no extra charges, together with the minimum deposit being $10. This will make your website easily accessible to every one and a starting point for novices. Funds deposit relatively fast, but wire transfers take longer than other methods. Cryptocurrency has a tendency to deposit the best.
Withdrawals
The absolute maximum withdrawal amount is dependent upon regardless of whether you use a VIP or standard account, using the minimum always remaining at $10. Your funds goes back to whatever payment method you accustomed to deposit the money. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take 24 hours to three days for traditional investors. It will only take a few hours for VIP investors.
Negative Complaints
Some negative Olymp Trade reviews claimed difficulty with withdrawing their funds. These types of issues might be resolved if you make sure your account is fully verified. This simply involves having your required private information on file. The subsequent steps are required to verify your bank account and start receiving payouts.
1. Uploading photo identification from an ID or passport. The photo has to be from the shoulders up and completely visible.
2. If you’re using a credit or debit card, you have to scan the credit card that you will be using. The name, first 6 and last 4 digits have to be visible. You only need to upload the leading in the card not the back.
3. If you use an electronic wallet (ex. Skrill), images of one’s electronic digital purse is essential.
Trade Types and Payouts
Many organisations offer 6 trading options for example one touch, long-term, ladders, and call/put options. Olymp Trade only offers high/low trading. High/low trading expiry times are limited into a maximum of A day and they are ideal for beginner traders. Standard investors have 82% successful trade payout while VIP investors have 92%.
Customer satisfaction
Customer service can be obtained 24/7 via email, live chat, or phone. Having a VIP account, your support experience is more phenomenal. In part, this is because Olymp Trade is backed up by FinaCom. Whenever they don’t resolve a concern after 2 weeks, you’ll be able to file a dispute with FinaCom. Customer support is normally fast to eliminate any troubles before it grows to this aspect.
Olymp Trade Review Conclusion – Conclusions
Experienced investors could be disappointed together with the insufficient assets and trading options. However, Olymp Trade could nevertheless be a convenient choice for someone searching for binary trading with mobile options. The interface is designed with new traders in mind, taking time to formulate education with an immersive demo. The limited options makes it less intimidating for freshies to jump into trading. And also the uncluttered, simple design and low deposit requirements ensure it is an attractive choice for anyone thinking of getting into trading.
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