One of the most distinguished and well-known brokerage companies in the CIS, which has a category “A” of the International Financial Commission, is Olymp Trade. Over the entire period of its existence, it “acquired” both grateful users and irreconcilable opponents.
Olymp Trade is a young Russian platform founded in 2014. This is one of the most famous brokerage companies in the CIS, which has a category “A” by the International Financial Commission. Initially, the broker was created for the Russian market. Currently, the number of Olymp Trade clients is steadily increasing, together with the offered trading conditions, modern service and software, it is possible to safely assume the stability of this trend.
The main feature of Olymp Trade is that it is the only one that offers traders only one type of contracts, fixed by Call / Put time with expiration time from one hour to one minute. In other words, this broker is an excellent option for traders who place bets on small amounts, because as such, there are simply no opportunities for fundamental analysis.
The owners of the presented trading platform are Smartex International Ltd (Seychelles), which is additional proof of its reliability. But despite the above factors, many users consider this broker to be unreliable, and some argue that this is a common fraudulent scheme. To answer the question who Olymp Trade really is, it is necessary to study in detail all available information about it, filtering out subjective conclusions and assumptions.
MAIN TRADING CONDITIONS OF OLYMP TRADE
Based on the above indicators, we can conclude that the presented trading platform does not belong to the category of classic fraudulent schemes, which, as a rule, are designed for a short period of work and sufficiently high deposits for potential victims.
REGISTRATION AND TRADING ACCOUNT FROM OLYMP TRADE
Olymp Trade offers almost instant account registration. All you need to register is filling in 4 required fields (name, surname, e-mail, phone number) in the desktop version of the site or in several areas in the mobile application. A nice plus – to start trading with Olymp Trade you will not need to check your email for a verification letter.
It is possible to start trial trading on a Demo account without any time limits. You will also have access to an amount of $ 10,000 currency units, which can be used in the trading process at any convenient time, and even after the start of real trading. But it is worth remembering that if the funds on the Demo account are lost in the trading process, it will be impossible to replenish them.
Today the broker offers only one type of trading account, the minimum deposit of which is $ 10. Also, depending on the currency of the account, an introductory bonus can be credited in the amount of up to 100% of the deposit amount, which cannot be withdrawn. Regardless of the amount that a trader deposits into his trading account, he will be provided with educational materials, analytics and professional market reviews from Olymp Trade.
OLYMP TRADE UNDERLYING ASSETS
An important role for most traders is played by the number and range of trading assets that the broker provides to its clients. At Olymp Trade, you can trade with currency pairs, stock indices, stocks, commodities and some cryptocurrencies.
Speaking of the assets offered, their number is also limited. You are provided with a choice of Bitcoin and currency pairs, which also include $ / RUB and € / RUB. Several types of commodity assets are also available on this site, in particular gold, silver, platinum and oil. The highlight is the Random asset, it can be traded at any time, and its price changes unpredictably. In fact, this asset will be of interest to beginners rather than experienced traders. Also, it is worth paying attention to the indices, directly CryptoIndex, which is the author’s development of Olymp Trade, which is based on the prices for call contracts, fixed in time Bitcoin (BTC), Ethereum (ETH) and Litecoin (LTC).
OLYMP TRADE TRADING CONDITIONS
At Olymp Trade, the minimum transaction amount is 30 rubles, while the minimum amount to fund an account is 350 rubles / 10 $ / 10 €. The broker also offers to use a Demo account with a balance of 10.000 units of the selected currency, so that a potential trader of the site could fully appreciate its advantages. The minimum transaction amount, depending on the account currency, will be 30 rubles / 1 $ / 1 €, and the maximum – 150,000 rubles / 2.000 $ / 2.000 €. While for VIP users, the maximum transaction amount, depending on the account currency, will be 400,000 rubles / 5,000 $ / 5,000 €.
Olymp Trade has set limits on the size of positions for one instrument, depending on the currency of your account, in the amount:
• 750.000 rubles / 10.000 $ / 10.000 € for non-VIP-users is;
• 800.000 rubles / 10.000 $ / 10.000 € for VIP-users;
• for all users – 1.600.000 rubles / 20.000 $ / 20.000 €,
as well as for all instruments for all users – 1.600.000 rubles / 20.000 $ / 20.000 €.
DEPOSIT AND WITHDRAWAL OF FUNDS OLYMP TRADE
It is possible to replenish a trading account using Visa / MasterCard and QIWI, Webmoney, Yandex Money, NETELLER, ePayments, Skrill and Fasapay payment systems. After opening a real trading account with Olymp Trade, verification of a personal account is not required to withdraw funds to a bank card and / or electronic payment system from which the balance of this account was originally replenished.
The minimum amount allowed for withdrawing funds from a trading account is $ 10. The maximum withdrawal period will be 5 working days (after the application is submitted), but 90% of applications are processed within 24 hours. It is worth noting that the process of withdrawing money from the account is quite simplified, compared to other brokers, because the commission from payment systems will be accepted to the Olymp Trade account.
Practice shows that the methods of deposit replenishment and withdrawal of funds from their account provided by the developers of the Olymp Trade trading platform are completely satisfactory for both beginners and experienced traders.
OLYMP TRADE TRADING PLATFORM
The uniqueness of the Olymp Trade trading platform allows the broker to be a competitive participant in the market for fixed-term contracts, and, at the same time, a profitable partner. The PC version is completely comfortable to use, as it is adapted to different screen resolutions, which allows you to conduct transactions without any inconvenience. Also, the function “one-click deal” is available. Regarding the mobile version of the platform, while Olymp Trade has not announced its development.
For some traders, this platform is due to the fact that the broker offers only one type of instruments for trading, namely the “higher / lower” contract. In addition, 6 time frames are supported – from 1 minute to 1 hour.
On the left side of the trading platform, there is a block displaying ongoing transactions of other traders. In case of loss of funds from a losing trade, a small window will appear in which the trader will be asked to go to the training section, or see the signals available at the moment. The option of early closing of a deal is available, but only if at least 1/4 of the total time of the contract remains until the end of its expiration.
OLYMP TRADE TRAINING
On the official website of the company, each user can find such a service as joint trading with an experienced analyst, which greatly facilitates the learning process of novice traders. Many clients of the broker managed to get all the knowledge necessary to work in the global financial market, using only the materials presented at Olymp Trade.
The broker’s website provides free access to training materials for both beginners and professional traders. The main page contains links to the “Training” section and the “Analytics” section for competent analysis of the market and making the right decisions by the trader.
The “Training” section contains training videos that contain practical information, terms, questions and answers. An e-book about all the intricacies of trading from Olymp Trade specialists is also available here. Additionally, webinars are held on the practical side of the trading process, where everyone can ask a question of interest.
The “Analytics” section contains an economic calendar, signals and a “live” chart with the ability to add indicators and build structures for your own analysis. Additionally, the section added market and volatility reviews at different hours in the context of currency pairs.
OLYMP TRADE CUSTOMER SUPPORT
Olymp Trade provides professional customer support 24/7 through the live chat on the website. All answers to the questions asked will be carried out exclusively by professionals who have experience in working with financial markets. Support language – Russian, English, Thai, Portuguese, Spanish, Indonesian, Turkish, Vietnamese.
This trading platform, which is predominantly considered the best option for beginners, despite its use by large market traders, still has several not so positive qualities that are worth summarizing, namely:
• limited number of assets (13 pieces) and one type of contracts, fixed in time
• access to Demo account and webinar is possible only after user registration
• withdrawal of funds in about 3 days, which is possible only after providing personal data (including a scan of the passport), in 90% of cases within 24 hours
• the trading platform is designed primarily for beginners (some professional traders consider it too “simple”).
But still, despite the above facts, Olymp Trade has the following advantages:
• clients of the broker are provided with various bonuses and rewards;
• a trader can control the situation on the site, regardless of his location (the main thing is the presence of the Internet and the corresponding device);
• the minimum deposit amount is 350 rubles, which is equal to the minimum withdrawal amount (!)
• deposits are kept at the European Bank
• the profitability of transactions is up to 90%
• availability of a Demo account
• free access to analytical and training materials
• the broker owns licenses of serious organizations (!)
• provides reliable protection of personal data and financial information
In conclusion, I would like to add that this broker deserves your attention, especially if you have not yet decided on the choice. Indeed, if, for some reason, you want to change your broker, you can easily withdraw the invested amount of money back. And remember that at the current time, the broker is additionally charged a cash bonus for the first replenishment of the account balance.
All of the above facts confirm that Olymp Trade is a decent and reliable company that fulfills its obligations, and in most cases pays remuneration to its clients on time.