Olymp Trade Review – Online Platforms, Commission, Leverage, Account Types, Features & more
Olymp Trade has been one of the strongest players in the financial industry. Over time, the platform has earned a high-status in the online trading marketplace.
Therefore, being a small investor, this place can prove to be a reliable option. Here, you can confidently invest your hard-earned money and secure a highly profitable position.
This online trading broker features an excellent option that incredibly hones your trading skills. The forex broker is a well-built and beautifully designed online trading platform.
If you’ve never stepped into a fully-digital trading platform, it’s the best way to move on.
This online broker allows you to put your strategy into execution that often surprises you when you draw profitable outcomes.
Thus, let’s dive into this Olymp Trade Review without waiting for long and bring to light all points stating how this platform provides you a leading edge in the market.
About Olymp Trade & Accepted Countries
Olymp Trade holds a reputed position in the industry since its first operation in 2014. The platform is famous for its loyalty and high-end efforts that satisfy its clients a lot.
Every year, the company is setting a new record for its success. The brand has built a large repo in the online marketplace, which has become famous among young traders.
Today, the brand continues to evolve, and the awards that this online trading broker has achieved witness it.
For instance- the brand has won 2017 CPA life awards, the best Options Broker award and Forex-Expo, and much more.
All these plus points draw trader’s attention towards the online trading broker. With a plethora of trading options and services, the platform is on the rise in the market.
For both new and expert traders, Olymp trade continues to be the top-grade option. The rest of the details we’ll capture about the broker by going deep into the article. So let’s go!
Accepted countries for Olymp Trade
Traders from Thailand, Singapore, South Africa, Hong Kong, United Arab Emirates, Saudi Arabia, Kuwait, India, Luxembourg, Qatar, and most other countries can use it.
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Olymp Trade Trading Platforms
The Olymp Trade makes sure that every visitor on this fantastic online trading platform doesn’t encounter any confusion.
It is the best. Mainly for those users who often go a little overwhelmed after seeing too much technical on an online trading platform.
For traders, trading on this platform becomes much easier as this entire platform is easy to navigate. Every option is well-organized that delivers easiness in the trading activities.
You can use this one-stop trading solution via web and smartphone too. At Olymp Trade, you can track the market and trade at the same time.
Every feature of this mind-blowing trading platform is clear and concise. Amid the trading, if you encounter any issues, the chat function also pops up on the screen.
Hence, it’s the best online broker by all means.
Olymp Trade Mobile App
Suppose you’re a mobile user who hardly finds time to trade and check the market’s rising and declining pattern.
Don’t worry then; the Olymp Trade Mobile app here comes up as the best option for you.
You can go with it even though you are an Android phone user or iOS user. Just visit the mobile app store and download the Olymp Trade app.
You can also install the app by visiting their official website in the .apk file format. The app is responsive and easy to use and quite more helpful than its web version.
However, you can also assume it a small trading tool that you’ll be carrying for all time in your pocket. Whenever you wish to make a well-informed decision, this app will always assist you.
Check out Mobile Apps of more Forex Brokers
Olymp Trade Commission or Brokerage
Olymp Trade displays a very clear commission or fee structure. If we talk about the spread, it varies as it depends upon the account type that the user has picked.
However, you might have found this same thing in other online trading platforms too.
For instance, as you spend higher for a premium account, the lower spreads you get. The same thing goes on in here.
It is also crucial to point out that the value of spreads can rise or fall as the market conditions go up and down.
On the other hand, if we glance at the fee structure that Olymp Trade charges. The one thing is sure that it isn’t an utterly free platform.
You’ll have to pay off a significant fee if you want to trade overnight. Apart from this, the platform also charges a subscription fee and inactivity fee.
But you get relief of paying off the custodial fees or maintenance fee as Olymp-Trade doesn’t charge on such things.
Ensure that the platform can close your account if you haven’t maintained a sufficient balance in your account. Also, the market situation can influence the fee structure set by the broker.
Olymp Trade Exposure or Leverage
The leverage is one of the critical things that attract traders a lot. If it also draws your attention, then you’ll probably love using Olymp Trade that offers leverage up to 1:400.
But it also varies as per the type of instrument you choose for trading. For instance- across popular forex pairs, you can find 1:30 set leverage, and at minors pairs- leverage is around 1:200.
It’ll be best for new traders to skip this point if you haven’t yet grasped the vital information related to leverage.
Payment Methods provided by Olymp Trade
Thanks to the multiple payment options in Olymp Trade, users can deposit or withdraw their money via their favorite payment gateway.
Though, the platform will never accept your withdrawal request from the different payment options.
So make sure you’re choosing the same mode of payment while depositing and withdrawing the money.
You can mainly use a credit/debit card, Cryptocurrency, Neteller, Skrilll, or Bank Transfer to fund your account.
If you’re opting for a bank transfer, you may have to wait for a few hours or an entire day. Don’t worry; deposits are free of commission.
Find out Payment Methods provided by other Forex Brokers
Investment in Asset Classes or Markets by Olymp Trade
If you love putting your smart strategies while trading and always prefer multiple trading options, then Olymp Trade will surely be made for you.
The platform allows the user to trade multiple assets at the same time. Traders can invest in stocks, currencies, ETFs, Commodities, and Crypto Currencies through this single interface.
Though, the country where you reside is the chief deciding factor in whether you can trade in a particular asset or not.
Virtual Trading Account or Demo Account
Suppose you wish to get better in your trading skills. Suppose you want to take a full overview of this online trading platform before using its premium account.
Then, of course, you must use the Demo account. The demo account by Olymp Trade is a complete copy of the premium account.
Whatever the features you’ll use in the premium accounts, you can get a glimpse of every pinpoint at the demo account.
In the demo account, the virtual account balance of £10,000 allows you to trade in a virtual environment.
Since you’ll not be paying a single penny in the demo account, so feel free to take strategic steps and learn from your mistakes.
For new traders, a demo account has always been the first helping hand. Similarly, if you’re also a new trader without any prior trading experience, don’t skip using the demo account.
You can use the demo account right after the simple registration process.
Olymp Trade Offers or Deals
Surprisingly, Olymp Trade offers attractive deals and bonuses for its clients from time to time. In terms of deals and promotions, users can get a 50% bonus on their initial deposit.
But make sure you first understand the terms and conditions of using these bonuses.
Olymp Trade Regulation or Licensing
The regulation and licensing describe the reliability of any online marketplace related to monetary exchange.
If you are afraid of putting your money for trading via a random trading platform, you can check its licensing.
Olymp Trade has been approved by the IFC (International Financial Commission) in St. Vincent and Grenadines.
However, it often becomes hard for a few traders to trust IFC regulatory bodies because it isn’t that famous.
Find out Regulations & Licensing of more Forex Brokers
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Olymp Trade Features
Apart from educational tools, Olymp Trade comes with a plethora of features. The platform guides and encourages new users through recommendations.
The platform can also manage your account, but it’s a strange little feature you get alongside.
Perhaps it’s a helpful thing for beginners, but it isn’t for expert traders who have significant capital to invest in.
The platform offers you informative content on varying strategic points that raise your skills in trading.
The video tutorials, webinars, and interactive courses are some of the best things you get with this online broker.
These specs don’t focus solely on new traders; expert traders can also learn much more through these portals.
For instance, how you can manage capital, the latest trading tips, etc. In a nutshell, the forex broker has everything that supports each of its clients in his/her trading journey.
Olymp Trade Account Types
Olymp Trade mainly offers three types of accounts to its users. These include:
Standard Account: You can open the Standard Account in Olymp Trade with a deposit of at least £10, and there’s no maximum limit on withdrawals.
Though, the spreads you get in a standard account are only 1.1 pips.
VIP Account: For the VIP account, you must have a minimum of £2,000 for the deposit amount. As compared to a standard account, a VIP account provides you more features and functionalities.
That’s why it’s special and highly recommended to expert users. If you make a trade up to £5,000, you also get the opportunity to interact with a VIP consultant personally.
With the help of these consultants, you can enjoy profitable results. The additional benefits included in a VIP account are truly unbelievable.
For instance- you can get attractive spreads, high leverage value, and much more.
Demo Account: The demo account is the learning account that provides you a brief overview of the broker. You can trade without risking yourself.
Olymp Trade Account Opening Process
Follow the steps to open a trading account in Olymp Trade-
- Sign in using an email address
- Add personal details about you.
- Select account type (e.g., as stated above)
- Accept the Terms and Conditions
- Select the payment option and start trading
Olymp Trade Benefits
- Leverages of up to 1:400
- Eye-catching spreads
- Multiple payment methods available
- MT4 supported
- Supports multiple languages
- Multiples asset classes access
- The low minimum deposit amount
- Interactive and easy to navigate design
- User-friendly mobile app
Olymp Trade Drawbacks
- Tricky terms and conditions on bonuses
- Withdrawal issues
- Regulation and licensing aren’t entirely reliable.
- VIP account gets more advantages
Olymp Trade Trading Hours
Trade using Olymp Trade 24 hours a day without any restriction. No matter whether you’re trading through mobile or desktop, if you’re using Olymp Trade, you can invest at any time, anywhere.
But make sure you first notice the original market timeframes. Especially if you’re planning to invest in Forex Market that doesn’t remain open for all time.
Every market follows varying timeframe and you may find yourself restricted to invest in your favorite asset.
Olymp Trade Customer Care or Contact Details
Don’t worry, if you’re facing any issue, contact the customer support team of Olymp Trade via the following channels:
- For live chat: olymptrade.com
- Phone: +84 2844 581 413
- Email: firstname.lastname@example.org
Olymp Trade Safety & Security
Olymp Trade is reliable and secure. The platform uses high-end encryption, which provides full protection to the user’s data.
Every detail you share with the company remains fully secure.
The platform runs under IFC regulation, which isn’t a reputable regulator, and that may cause a little hitch in your decision to choose Olymp Trade for trading.
Olymp Trade – Conclusion
Olymp Trade is one of the cheapest alternatives for new traders to start trading. You can choose between standard to VIP trading account to start trade.
Though, in terms of education, the platform assists new traders a lot. Still, trading with a VIP trading account is more profitable but requires a relatively high minimum deposit amount.
The regulatory bodies are also not so reliable. But the rest of the features that this Trading Platform offers you are truly attractive.
The bonuses are another big advantage you get along with opening an account in Olymp Trade.
Thousands of people are using their App since 2014. That’s why you can also trust this online trading platform easily.
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