Olymp Trade Commission or Brokerage Charges – Review, Plans, FAQs & more
Know in detail about Olymp Trade Commission or Brokerage Charges here.
Due to notable features, a wide range of tradable assets, and prettiest leverage, people are rushing towards Olymp Trade.
Your search for the best online trading broker is likely to end on Olymp trade because it is an incredible online broker to start trading with.
The broker serves more than 25,000 clients globally. Daily a new user check-in to the Olymp Trade trading account.
But features alone aren’t the chief attention-driving factor here. It is the lowest commission indeed that insists users keen on an idea of starting trading at Olymp Trade.
But if you are still confused about whether the Olymp trade is worth it or not, this article will keep you sorted. Below we share brief information over charges that you pay on being Olymp trade users.
What are Olymp Trade Charges, and when are they incurred? Let’s find out.
Olymp Trade Commission or Brokerage Charges
Even though Olymp Trade isn’t counted among those brokers with decades-old existence in the trading sector, it still built a reliable position for itself within the shortest time.
Since its inception, the platform shows great concern for trader’s choices which makes it favorite among traders.
No matter if you are a beginner or carry a bit of experience in trading, Olymp trade does care for what you need.
It makes a good reason why the broker kept its minimum deposit amount to $10 only.
Though deposits are free of charges, you don’t pay even a single penny, except for Olymp Trade brokerage charges that also vary.
Such as, the Olymp Trade Charges 0.8% to 15% brokerage fee of the total investment value.
Apart from that, the minimum trading amount has been kept at $1 only.
In addition to the basic brokerage charges, the broker does charge certain fees that we discuss next.
These Olymp Trade Fees include overnight charges, custodial fees, or inactivity fees that are worth noting while trading.
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Types of Olymp Trade Commission Plans
|Types of Commission Plans|
|Account Type||ECN Account||Standard Account|
|Commission||$4 Per Lot||0|
Before we consider the Olymp Trade Commission, it’s worth pointing out that Olymp Trade offers two trading accounts.
The first is the ECN account, and the second is the standard account. Both accounts take the varying needs of users into consideration.
To simply put, an ECN account, also referred to as a VIP account, is ideal for big traders.
Traders can invest up to $5000 in an ECN account and $2000 in Standard Account.
But, in comparison to the standard account, the ECN account comes with significant benefits.
Such as, traders are exposed to several features and functions in an ECN account, including access to VIP consultants.
These consultants possess a rich familiarity in trading, making it an extremely great feature of a VIP account.
But there is a big flaw as the users are charged $4 per lot on trading via ECN.
In contrast, the standard account doesn’t include any Olymp Trade Fees, making it an ideal port for traders with limited investment capital.
Overnight fees and inactivity fees are charged at a fixed rate in both accounts.
Though, the trading account is exempt from maintenance fees, which is a big plus point. Spreads can go up and down as it depends upon the type of assets a trader chooses.
The Olymp Trade Commission plans tend to vary; hence it is always advised to review Olymp Trade brokerage charges and fees to get sorted out earlier with your decision.
Olymp Trade Account Opening Process
The account opening process at Olymp Trade stands similar to the account opening process on any online trading platform.
For instance, the process begins from simple log-in steps that are as follows-
- Sign-in to Olymp Trade using an email id and password and become a registered user
- Verify your account once again but make sure the password is strong
- Now, submit the documents regarding EKYC at the asked field by Olymp Trade
- Hit the “Next” button and go-ahead
- Now select between ECN and Standard account to get a desired group of assets on the screen.
- Fund your account with a minimum deposit amount of $10 in both ECN and standard account
- Again, submit the trading amount anything from $1 to $5000 and start trading.
Mobile users can access the Olymp Trade trading account by following these general steps.
The deposit amount is fixed in both standard and ECN accounts except for Olymp Trade brokerage charges.
Standard account users can feel stress-free as no fees are charged.
But this doesn’t mean that Olymp trade goes a bit unfair with ECN account users.
Even though the broker charges a significant fee from ECN/VIP users, amazing features, expert consultants, and exposure to helpful tools make it a fair deal.
Olymp Trade Payment or Withdrawal Methods
|Deposit Options||Skrill, Yandex Money|
|Withdrawal Options||Skrill, Yandex Money|
Traders can confidently make payments, pay Olymp Trade Commission and withdraw the amount from their trading account at Olymp Trade.
The payment portals are fully encrypted and kept secured from any online activity that reflects a threat to transactions.
You can choose the ideal payment mode at Olymp Trade from the given options-
Payments: Skrill, Yandex Money, UPI Money Transfer, Wallets, Net Banking, Bank Cards, Neteller
Withdrawals: Skrill, Yandex Money, UPI Money Transfer, Wallets, Net Banking, Bank Cards, Neteller
However, Olymp Trade requests its users to make withdrawals from the same payment mode used before to fund an account.
This step prevents money laundering that has always been a big concern in the financial market.
Deposits are free of charges; the broker charges nothing from its users on account funding. However, your bank may charge a significant fee on the transaction.
To get more details on bank transactions, get in touch with your bank.
Olymp Trade Investment Assets
|Supported Cryptocoins||Bitcoin, Dash, Ethereum, Litecoin or Ripple|
|Total Tradable Assets||52|
|Number Of Currency Pairs||33|
|Number Of Cryptocurrencies||11|
|Number Of Stocks||NA|
|Number Of Indices||NA|
|Number Of Commodities||NA|
|Number Of Futures||NA|
|Number Of Options||NA|
|Number Of Bonds||NA|
|Number Of Etfs||NA|
Olymp Trade brings you an amazing opportunity to invest in the most profitable assets that have always been the charm of your eyes.
But it’s worth pointing out that assets at Olymp Trade may or may not be available for trading as the country where a user resides determines asset accessibility.
Apart from that, the brokers offer the following assets on its trading platform-
- Total Tradable Assets 52
- Number Of Currency Pairs 33
- Number Of Cryptocurrencies 11
For cryptocurrency trading, the broker offers Bitcoin, Dash, Ethereum, Litecoin or Ripple, etc.
But make sure you are aware of the types of Olymp Trade Commission charged on crypto-trading.
Apart from that, choose from the given assets that go ideal to your trading interest and pile up a solid return.
Olymp Trade Commission – Conclusion
The Olymp Trade Commission is an easy-going trading platform.
User’s location, the type of assets they choose, including account, decides the ultimate fees they are liable to pay.
Apart from that, no commission is that hectic.
Beginners can begin with a standard account as the brokerage is zero.
Big traders can go with an ECN account that is a bit expensive but ideal for large-scale trading.
But as compared to other trading platforms, we find Olymp Trade a pretty good choice due to its flexible pricing and plans.
Olymp Trade Charges or Fees – FAQs
Here are the few FAQs related to Olymp Trade Charges or Fees –
Does Olymp Trade Charges Commission?
Olymp Trade is a privately owned trading platform that charges a certain commission from its users.
For instance, the broker charges a subscription fee, overnight fee, etc., that are charged at a fixed rate from its users.
How Much Does Olymp Trade Charge Brokerage?
Olymp Trade brokerage charges can vary from 0.8% to 15%.
The charges are levied on the total amount you invest.
But in addition to this significant fee, the broker doesn’t charge fees on account maintenance.
What Is The Minimum Deposit Required In Olymp Trade?
The minimum deposit amount to access a trading account at Olymp Trade is $10.
The deposit amount stays the same on both Standard and ECN accounts.
Though the amount is mandatory to be submitted; else the broker won’t give you any access to its trading account.
How Much Leverage Does Olymp Trade Provide?
Olymp Trade trading platform offers leverage up to 500:1, which is truly breathtaking.
Traders can invest more than what they have to invest.
However, leverage can vary from one asset to another, such as traders are exposed to 1:300 leverage on forex pairs.
How Much Is Spread At Olymp Trade?
Spread at Olymp trade starts from 0.6 in the ECN account and goes up to 1.1 in the standard account.
What Type Of Commission Plans Available In Olymp Trade?
The commission plans at Olymp trade isn’t specified as it tends to vary.
The type of account you use for trading and the type of assets you trade at Olymp Trade decides the ultimate commissions.
Still, if we had to explain an average commission, it varies between 0.8% to 15%.
Does Olymp Trade Provide Crypto-currency For Investment?
Yes, Olymp trade does provide crypto-currency for investment at its online trading platform.
The broker offers a total of 11 Crypto-currencies for trading.
These crypto-currencies include Bitcoin, Dash, Ethereum, Litecoin, Ripple, and other popular crypto-currencies that deliver the highest return.
Is Olymp Trade A Legit Forex Broker?
Yes, Olymp Trade is a fully legit forex broker.
Traders can locate the best performing crypto-currency by performing an extensive analysis of the market.
The broker won the Forex Expo award in 2017 for being the best. Thus it won’t be wrong to call it a legit forex broker.
Can I Invest In Olymp Trade With $5?
Yes, traders can invest $5 in their favorite assets at Olymp Trade.
Even traders can start trading at Olymp Trade from as low as $1 only.
But this trade shouldn’t include any amount from the $10 minimum deposit amount that should remain in your account till you are an active user of Olymp Trade.
Are There Any Hidden Charges Available With Olymp Trade?
Olymp Trade is a privately owned trading platform that charges commissions from its users.
Hence, you may have to encounter issues with hidden charges at Olymp Trade; apart from that, it is a great online trading broker.
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