Olymp Trade – a review of trusted and reliable trading platform

The Main Trading Conditions of Olymp Trade

Regulated – CROFR, FINACOM…add in brackets (FINACOM also regulates RoboForex and Grand Capital.

Supported Languages – Russian, English, Thai, Portuguese, Spanish, Indonesian, Turkish, Vietnamese.

Trading Platform – Olymp Trade

The minimum deposit is $10

Maximum deposit – no limits

The minimum investment is $1

Maximum investment – $2000

Profitability of trading platform up to 90%

Welcome Bonus – up to 50%

Demo account – Yes

Trading instruments – Above/Lower, Short-term (60 seconds, 2 and 5 minutes)

Refund – up to 60% in case of a loss-making transaction (refund rates – up to 80%)

Number of assets – 20 (currencies, stocks, commodities, indices)

Deposit replenishment – credit cards (Visa and MasterCard), QIWI, Webmoney, Yandex Money, NETELLER, ePayments, Skrill, and Fasapay

Apps – Android, iOS

Account currencies – US Dollar, British Pound, Japanese Yen, Euro, Swiss Franc, and Russian Ruble.

Web-based platform – no download required.

Automatic trading is not provided.

It is possible to cancel transactions.

There is professional customer support 24 hours/day (for communication, you can use the online chat on the broker’s website). Based on these indicators, we can conclude that the Olymp Trade platform does not fall into the category of classic fraudulent schemes, which, as a rule, are designed to only last for a short period and attract sufficiently high deposits from potential victims.

Registration and Trading Account from Olymp Trade

Olymp Trade offers near-instant account registration.

All you need to do to register is fill in four required fields (name, surname, e-mail, phone number) in either the desktop site or the mobile application.

A pleasant plus is that you can start trading with Olymp Trade immediately.

You will not need to check your email for a verification message.

You also have the opportunity to sign up for a demo account without time restrictions.

The demo account will provide an account balance of $10,000 (virtual) that you can use to practice trading with.

Remember, though, that if the funds on the demo account are lost in the trading process, they can’t be replenished.

Currently, the broker offers only one type of trading account, with a minimum balance of $10.

Also, depending on the account currency, you can receive an introductory bonus of up to 100% of the deposit amount, though you can’t withdraw any bonus funds.

Regardless of the trading account size, users will be provided with training materials, analytics, and professional market reviews from Olymp Trade.

Olymp Trade Basic Assets

An important criterion for many traders is the quantity and assortment of trading assets that the broker provides.

On Olymp Trade, you can conduct transactions with currency pairs, stock indices, stocks, commodities, and cryptocurrencies.

Some of these assets are quite limited, however.

Only Bitcoin is available for cryptocurrency trading, and the only currency pairs supported are the USD/Ruble and EUR/Ruble.

Several types of commodities are available on this site, in particular gold, silver, platinum, and oil.

An interesting highlight is the ability to trade a random asset, which has unpredictable price variations.

This may be interesting for beginners but probably not for experienced traders.

Also, you should pay attention to the indices, especially CryptoIndex, which is based on the prices for call fixed-time trades on Bitcoin (BTC), Ethereum (ETH), and Litecoin (LTC).

Trading Conditions of Olymp Trade

On Olymp Trade, the minimum transaction amount is 30 rubles, and the minimum amount to replenish an account is 350 rubles/$10/10€.

The broker suggests using a demo account with a balance of 10,000 units of the selected currency so that a potential trader can fully appreciate its advantages.

Depending on the account currency, the minimum transaction amount will be 30 rubles/$1/1€, and the maximum amount is 150,000 rubles / $2,000 / 2,000€.

For VIP users, however, the maximum transaction amount is higher: 400,000 rubles / $5,000 / 5,000 €.

Olymp Trade sets limits on the size of positions for one asset, depending on the currency of your account, in the amount of:

• Non-VIP accounts: 750,000 Russian rubles / $10,000 / 10,000 €
• VIP accounts: 800,000 Russian rubles / $10,000 / 10,000 €
• For all users: 1,600,000 Russian rubles / $20,000 / 20,000 €
• On all tools for all users: 1,600,000 Russian rubles / $20,000 / 20,000 €

Deposits and Withdrawals

Funds can be deposited into a trading account with credit cards (Visa, MasterCard) and payment systems, including QIWI, Webmoney, Yandex Money, NETELLER, ePayments, Skrill, and Fasapay.

After opening a real trading account with Olymp Trade, no personal account verification will be required to withdraw funds to the bank card or electronic payment system used for the initial deposit.

The minimum withdrawal amount is $10.

The withdrawal period is up to 5 working days (after the application registration), but 90% of applications are processed within 24 hours.

It should be noted that the process of withdrawing money from the account is very simple compared to other brokers because commissions from payment systems are accepted by Olymp Trade.

Trading Platform

The uniqueness of the trading platform makes it possible for a trader to be a competitive participant in the fixed-time trades market and, simultaneously, an advantageous partner.

The PC version is comfortable because it adapts to various screen resolutions, allowing you to conduct transactions without any inconvenience.

Also, a “one-click deal” function is available.

Olymp Trade has not announced the development of a mobile application.

For some, this platform is easy to learn because the broker offers only one type of instrument for trading, namely the higher/lower fixed-time trades.

In addition, six time-frames are supported, from 1 minute to 1 hour.

On the left side of the trading platform, there is a block displaying the trades of other traders.

If you lose funds from a loss-making transaction, 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 ability to close a deal early is available, but only if at least 25% of the total time of the fixed-time trade remains.

Training Olymp

On Olymp Trade’s official website, you can find the service joint trade with an experienced analyst, which greatly facilitates the process of training novice traders.

Many of Olymp Trade’s clients managed to get all the knowledge necessary to work in the world financial market by using only materials presented on the site.

On the broker’s website, training materials for both beginners and professional traders are freely available.

On the main page are links to Training and Analytics to assist you in developing your ability to undertake competent market analysis and make good decisions when trading.

The Training section contains videos that present practical information, terms, and questions and answers.

There is also an e-book about all the intricacies of trading from the experts at Olymp Trade.

In addition, webinars about trading are held regularly, where everyone can ask questions.

The Analytics section contains an economic calendar, signals, and a live schedule with the possibility of adding indicators and constructing structures for conducting your own analysis.

This section also includes market and volatility reviews at different times in the context of specific currency pairs.

Customer support for Olymp Trade

Olymp Trade provides 24/7 professional customer support via online chat on the website.

All answers to any questions asked will be provided by professionals who have experience working with financial markets.

Several languages are supported, including Russian, English, Thai, Portuguese, Spanish, Indonesian, Turkish, and Vietnamese.

This trading platform – which is considered one of the best for beginners and is also used by large players in the binary market – still has some not-so-positive qualities that are worth summarizing, namely:

• A limited number of assets and only one type of fixed-time trade.
• Access to a demo account and webinars is only possible after user registration.
• Withdrawal of funds takes approximately three days and is possible only after personal data is verified (including a scan of your passport). Once verified, however, most withdrawals (90%) are made in 24 hours or less.
• The trading platform is designed for beginners (some professional traders consider it too simple).

But, despite the negatives mentioned above, Olymp Trade has the following advantages:

• Bonuses and rewards.
• The site can be accessed no matter where you are.
• The minimum deposit is 350 rubles, which is equal to the minimum withdrawal amount!
• Deposits are kept in the European Bank.
• Profitability of transactions is up to 90%.
• Free demo account.
• Free access to analytical and training materials.
• The broker has received licenses from serious organizations!
• Reliable protection of personal data and financial information.

In conclusion, I believe that this broker deserves your attention, especially if you have not yet decided on a trading platform.

After all, if you decide to change to another broker, you can easily withdraw the entire amount of money you invested.

And remember that at the current time, the broker provides a monetary bonus for the first replenishment of the account balance. Before deciding on a broker, also read our Quotex Review.

Olymp Trade – perfect platform to try yourself at trading!

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