Olymp Trade Trading Account – Review, Types, Process, Benefits, Charges & more
Find out everything about Olymp Trade Trading Account here. A well-structured trading account plays a chief role in the success of an online trading broker.
Such as Olymp Trade that grew popular within the shortest span just because of its good-working trading account.
More than 25,000 daily users actively use Olymp Trade broker for trading. Similarly, the average monthly trading volume goes up to $179.2 million.
It clearly makes Olymp Trade trading accounts the best overall option for traders.
If you are searching for the best trading account that suits your trading ambitions, this article will help you out.
Olymp trade is one of the best trading platforms, but is it worth your demands? Let’s find out.
Olymp Trade Trading Account and Benefits
Olymp Trade was first rolled out in 2014 by Andreas, headquartered in St. Vincent and the Grenadines.
The company is working with a team of only 50, which often surprises us as with a limited workforce, the broker is achieving the benchmark that it sets.
Another notable thing about the Olymp Trade trading account is that IFC regulates Olymp trade, making trading more secure.
The broker currently offers 53 tradable assets on its trading account. In addition to general assets, the account also features 33 currency pairs and 11 types of crypto-currency.
Thus, it won’t be wrong to say that Olymp Trade is the best spot for traders.
But the debate doesn’t end here. Olymp Trade trading account has much more to reveal. Users are exposed to some fantastic features that level up their trading skills.
So let’s go further with the discussion and unleash all the extra benefits that this trading account has to offer you.
Fill up the Form – Open Forex Trading Account Now!
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Olymp Trade Trading Account Charges
|Trading Account Charges|
|Account Type||ECN Account||Standard Account|
|Spread||0.6 pips||1.1 pips|
|Commission||$4 Per Lot||0|
Before you register for a trading account at an online trading platform, charges are the first things to pop up in mind.
Thus, it’s better first to explore the type of charges that Olymp trade asks from its users against its trading account.
The first monetary transaction of a user with Olymp Trade begins from a minimum deposit amount of $10.
After this initial step, users get access to their trading account. But if we talk about further fees, these include a 15% fixed overnight fee if you don’t close your position.
Apart from that, there’s a custodial fee, maintenance fee, subscription, and inactivity fee charged periodically.
However, if your account doesn’t have sufficient funds to deduce the charges, you’ll lose access to your account.
In most cases, Olymp trade also charges fees on forex trading, which depends upon the trading amount, markets, multiplier, and further specs.
In addition to these internal account charges by Olymp trade, bank transactions are also subjected to charges.
Types of Olymp Trade Trading Account
|Types of Trading Account|
|Trading Desk Type||ECN and Standard|
|Maximum Leverage||Upto 1:400|
|Suitable for beginners||Yes|
|Suitable for professionals||Yes|
|Suitable for scalping||Yes|
|Suitable for daily trading||No|
|Suitable for Weekly trading||No|
|Suitable for swing trading||Yes|
Olymp Trade offers standard and Electronic Communication Network (ECN) trading accounts.
Thus, few assets are clearly subject to direct charges and commission.
To simply put, if you choose an ECN account, $10 will be charged from you per lot. But if you are a standard account user, no fees are charged.
If we talk about spreads, a standard account offers 1.1 pips whereas ECN account users receive 0.6 pips.
But whether the rest of the assets will be charged or not will be subjected to the market patterns and assets.
In most cases, the location from where you trade also decides the type of amount to be charged.
The minimum deposit amount stays the same for both account users, including leverage 500:1 offered in both.
Beyond a doubt, Olymp trade makes a fair deal with its users as these charges are also reasonable.
But it’s worth noting that the deposit amount is the lowest on the Olymp Trade platform.
Olymp Trade Account Opening and Trading Process
Now let’s catch a glimpse of the Olymp trade trading account opening process and how the whole trading structure works.
Follow this step-by-step process and make your first move-
- Begin with a standard log-in process; simply visit Olymp Trade’s official website and register yourself with the broker using an e-mail id and password. Confirm the log-in details and proceed.
- Now enter the verification details, or submit the documents asked to get your account verified.
- Here the broker asks you to choose between a standard and VIP/ECN account.
- The minimum deposit amounts are similar in both account types with minute differences.
- Now you have successfully created your trading account at Olymp Trade. Make your first purchase, hold and sell assets from the given alternatives.
VIP traders here receive a great treat from the broker, including personal consultants, to hit a robust financial analysis.
Moreover, VIP traders gain access to some fantastic trading tools and are allowed to trade up to $5000, which is limited to $2000 for standard account users.
The rest of the trading process is similar to any trading account you use online. Such as, search your favorite asset from the given instruments.
Conduct a robust technical analysis using charts and tools, buy, hold and sell whenever the market indicates a right time.
Next, we’ll take a glance at an assortment of features that makes trading over Olymp Trade more gainful for traders.
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Olymp Trade Trading Account – Features
|Social Trading / Copy Trading||Yes|
|Guaranteed Stop Loss||No|
|Guaranteed Limit Orders||No|
|Guaranteed Fills / Liquidity||No|
|Trading From Chart||No|
|Interest On Margin||No|
|Other Trading Features||No|
Here are the key features contributing a big role in making Olymp Trade online trading highly gainful to the users.
Varying Tradable Assets
Users can trade Currencies, Commodities, Indices, Stocks, Crypto-currency, and ETF via Olymp Trade online trading broker.
Educational Content Offered
The broker wants its users to get versed in trading, so their practices yield better returns.
For which Olymp Trade offers educational content on its trading platform once you become a registered user.
Social Trading / Copy Trading
Not so many brokers offer copy trading features on their trading platforms, but Olymp Trade does.
The feature helps you copy the trading moves of expert traders if you are a beginner.
Trading Charts / Indicators
Without charts and indicators, a trading platform is worthless.
Thus, Olymp Trade doesn’t forget to include this vital thing on its trading account.
Olymp Trade also runs promotional activities for its users that engage them.
VIP account users get personal expert advisors at Olymp Trade who help you conduct a robust financial analysis, so your moves yield more results.
Using some helpful tools, users can take their trading activities on automation.
Pre-set orders, command for sale, and wait for the results.
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Olymp Trade Trading Account – Conclusion
That’s all that you get in the Olymp Trade trading account.
Beyond a doubt, this review for the Trading account by Olymp Trade is truly an eye-opener.
Even though Olymp trade isn’t a free platform to kick-start your trading journey, still the fees and commissions are reasonable.
Traders with a low budget can continue with the standard account and gain access to some standard features.
As VIP account users receive some extra helpful offerings, but that comes at a certain cost.
The rest of the Olymp Trade features are cool and deliver a brilliant user experience.
Olymp Trade Online Trading – FAQs
Here are a few FAQs related to the Olymp trade trading account:
Does Olymp Trade provide online trading?
Olymp Trade is an online trading platform where users can visit and trade their favorite assets.
The entire account opening process at Olymp Trade is carried out online. Meanwhile, there’s no need to undergo any offline tasks.
What Are The Commission charges in Olymp Trade?
The commissions and fee structures at the Olymp Trade trading platform vary.
In the mainstream, it depends upon the user and the tradable assets he chooses for trading.
Though, traders are asked to submit $10 as an initial deposit amount.
Does Olymp Trade Provide Demo Account Trading?
Yes, Olymp Trade provides its users access to a well-designed demo account.
So new users could get over any confusion.
Moreover, the broker also offers virtual currency in the demo account, making the virtual experience feel realistic to the users.
Is Trading Free At Olymp Trade?
Trading is free at Olymp trade.
No fees are charged from users who opt for a standard account except for charges if the user’s activities don’t meet the terms of services.
At the same time, if a user opts for a VIP account, charges mount up due to extra offerings.
Does Olymp Trade Provide Spot Metals Trading?
With Olymp Trade, users can invest in a total of 77 types of assets which also includes spot metals.
Simply log in to your account, search for the available assets you wish to trade, and make your first trade.
However, not every asset is available for trading at Olymp Trade. Still, you can find some popular ones.
What are Spot Metals trading charges at Olymp Trade?
The spot metals trading charges vary at the Olymp Trade trading account.
To simply put, there are either no charges or fewer charges on standard account users, but if you are a VIP account user, charges can go higher.
Thus Spot metals trading charges depend upon what type of user you prefer to become for Olymp Trade.
Does Olymp Trade provide Stock Trading?
At Olymp Trade, traders can invest in stock trading as well.
The broker offers a wide array of stocks and popular companies’ shares on its trading platform.
But in addition to stock trading, users can even invest in currency pairs, commodities, and crypto-currency to keep the portfolio entirely profitable.
What is Spread At Olymp Trade?
The spread at Olymp trade varies for both standard and VIP account users.
To simply put, standard account users, gain access to 1.1 pips, and it is at 0.6 for VIP or ECN users.
Visit Olymp trade’s official website to get more details on it. Mobile users can also get such information on Olymp Trade mobile app.
Is Olymp Trade Safe for Trading?
Olymp Trade is one of the safest trading platforms where users can invest confidently and generate great returns.
The platform adheres to the rules and regulations by IFC, and thousands of active users evidence that the broker can work away better than your expectations.
Does Olymp Trade provide Trading Tips?
Olymp Trade online trading brokers do care about the knowledge of their users.
The broker expects that its users always capture great returns, which is only possible with proper guidance.
Thus, Olymp trade never forgets to share some fantastic tips with its users via its educational services.
Fill up the Form – Open Forex Trading Account Now!
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