Olymp Trade - a credible binary options platform, started its operations in September 2014. On the official website of Olymp Trade, you will find currency pairs, raw materials, indices, crypto pairs, and ETFs. At the very start, Olymp Trade made a bet on novice traders and created the optimal conditions for starting work in the world of progressive investments. However, it has never stopped developing, and currently it provides a quality binary options trading product for both novice and qualified traders.
The broker is winner of a number of awards in various nominations: Best Broker (Forex Expo 2017) and Best Trading Platform 2018 (The Forex Awards).
In just 7 years, the broker built a strong community by registering over 25 million trading accounts. Every month, around 30 million trades are carried out on the platform, with a turnover exceeding $150 million. The monthly payouts to the traders make $8 million.
The broker’s site is translated into 19 languages and available in 134 countries. Keep reading this Olymp trade survey to learn the trading conditions of the platform and its main benefits.
Since 2016 Olymp Trade platform is a member of category A of the international Financial Commission FinaCom. This financial authority ensures that customer deposits are kept separate from the company's operational funds. In case of illegal actions of the company, the trader can file a claim with FinaCom. If the decision is taken in favor of the client, but the member of the commission does not comply with the regulator's decision, the client receives compensation of up to 20,000 euros.
The security of all transactions are monitored by an SSL certificate, in the event that money comes from a bank card, the 3D Secure system is used.
The quality of transaction execution on the Olympic Trade platform is certified by the independent Verify My Trade system.
Olimp Trade is considered one of the best companies for traders who are just getting started with options earning opportunities. And it is fully justified by number of the following factors:
- the platform interface is available in several languages;
- unlimited demo account with $10,000 balance.
- the minimum deposit is 10 dollars;
- the minimum trade is 1 dollar;
- an attractive bonus system;
- affiliate program;
- a trader can enjoy various privileges based on the deposit;
- free education and analytical tools.
Traders can trade Fixed Time contracts. This is the standard way of trading Above / Below. To make a profit, you need to correctly predict where the price will go after opening a deal.
The Forex trading type is also available on the broker's platform. The trader pays a commission for opening, and the size of the profit or loss depends on the price change. The deal has no expiration date: it is closed by the trader's order or by zeroing the balance. Forex contracts are used with x5 and x10 leverage. This means that with a $ 10 bet, a trader can significantly multiply the profits.
The registration procedure is simple and well-explained on the OlympTrade website. First of all, the client goes through a standard questionnaire with the indication of personal data. The second step is to verify your identity. To do this, you should send scans of documents confirming the information specified during registration. This process is called verification. You can access the demo account without being a verified user, but this step is obligatory for real trading, and especially for money withdrawals.
The Olymp Trade user has the right to open one of the 2 offered accounts:
After registration, each user can start trading on a demo account. To make the virtual trades, the broker allows to use virtual money - $ 10,000. This training account has all the same features as a real account. It enables a beginner to test how the whole process works and helps the client prepare for real money trading. There are no restrictions on a demo account. You can trade here for as long as you need and replenish your virtual account when you use the funds. A demo account is a great opportunity for novice users to get acquainted with the site and practice.
To activate it, you need to top up the account with a minimum deposit of $ 10. You will need to select the currency of the account. The minimum amount for one trade is $ 1 and the maximum is $ 2,000. Withdrawals are made from $ 10. The withdrawal process takes from 1 to 5 days;
Moreover, based on the amount of your deposit you can have one of three statuses – Starter, Advanced and Expert. Have a look at the below table to see the benefits each of them offers:
|Return rate||Up to 82%||Up to 84%||Up to 90%|
|Risk-free trades||no||no||5% of the deposit|
|Commission discount||no||Up to 10%||Up to 20%|
|Personal analyst||no||1 consultation/month||4 consultations/month|
The OlympTrade trading platform can be called flawless. Along with a pleasant and convenient interface, it offers advanced tools for market analysis and conclusion of transactions.
So, the following features are available in the trading platform:
- A large-format chart allowing to view the market history, change the scale and switch the interval for displaying quotes. The price on the chart can be displayed in a zone and candlestick form, as well as through Heiken Ashi bars and candles.
- non-stop and one-click trading
- different types of options - classic, digital, time options and pending trades;
- technical analysis function with an extended set of options;
- built-in technical indicators (17 items) and tools for graphical drawing of horizontal and trend lines;
- more than 75 assets in the arsenal of trading instruments;
- profitability of contracts is up to 92%
- the ability to use two instruments at once - binary options and Forex contracts
- the ability to use robots (Olympbot, Belobot, personal Robot)
- refundable demo account with $10,000 virtual training funds;
- expiration period of options from a minute to 24 hours (the function of specifying any desired time is available)
- news feed;
The Olymp Trade app is developed for iOS and Android. It duplicates the web terminal interface with some changes. For example, when working from a smartphone, you cannot set pending transactions.
Besides trading from a smartphone, the mobile terminal allows you to customize your profile, change your status, communicate with support, use analytics, and learn. You can download the terminal from the website, App Store or Play Market.
Training with Olympic Trade
The broker has a separate section with useful and interesting materials designed to train new traders and improve the knowledge of experienced platform participants. The following categories of information can be found here:
- a glossary with basic terms;
- answers to frequently asked questions;
- video tutorials with practical tips;
- electronic manuals for trading.
Also, the platform regularly holds webinars, which provide an opportunity to study the key nuances of organizing trades and applying specific tactics. Every new visitor of the site is offered an introductory master class that explains how to trade on a demo account.
The broker supports all popular payment methods:
- Banking cards
- Electronic payment systems
- Bitcoin crypto wallet.
The minimum deposit is $ 10, but for a crypto wallet you need to top up your account by $ 40. You can withdraw any amount starting from $ 10. Financial transaction fees are not charged regardless of the transfer method.
Withdrawal of funds is possible only to the same payment details from which the last deposit was made. The speed of payments depends on the status of the trader, but usually does not exceed two business days. In very rare cases, you may wait up to five days for your money to arrive.
The minimum top-up amount is $ 10. Commission for deposit and withdrawal of funds is 0%. All your payments are secure as the broker uses 2048-bit strong SSL protection.
How to top up? To do this, you must log in and enter your personal account on the official website and select a payment method. For the convenience of customers, the company covers all the costs of commissions of payment systems and bank cards.
The company can request verification. In this case, a trader must submit copies of identifying documents.
According to Olymp Trade reviews, the broker’s support system works fine. You can reach Olymp Trade by phone around the clock, by email, via the contact form on the website or via chat. So if you have any doubts about the Olymp Trade platform, do not hesitate and contact the support team via one of these channels:
- Hotline: +35725030996
- Email: firstname.lastname@example.org
- Online chat – a banner is available on the site.
The statistics show that average response time is 13 seconds and the company operators provide replies to over 5000 queries a day. The support team is available in 13 languages. You will also find Olymp Trade on Facebook and YouTube.
The "Analytics" section contains a "real" chart with the ability to install indicators on it and conduct a technical analysis, a calendar of economic events and signals from the INVESTING_com information portal, as well as 2 separate articles with an overview of the market situation and volatility in different time periods and on certain currency couples. All traders have access to:
- Economic calendar
- Trade signals
- Technical analysis
- Smart Trade service.
The analytics service will be an excellent addition to the used trading system and a full-fledged tool for forming a correct forecast.
Olymp Trade bonuses
The platform tries to support traders in all possible ways. And it is proved by attractive financial incentives. Traders can enjoy bonuses for replenishing deposits in the amount of up to 100 percent. The amount of the bonus depends on the amount of the deposit you are transferring to your account.
- You can also receive a bonus if you have a promo code. You can use this promo code when funding your account. You can get a promo code from the following sources:
- Promo codes are often given directly on the platform – check the deposit tab on the site.
- You can receive a bonus as a reward for your active trading on the platform.
The broker often shares promo codes in its communities and official social network groups.
A trader can use the bonus as a tool to get additional profit. The bonus cannot be withdrawn, however, you can get the profit obtained as a result of trading with the bonus amount.
The Olymptrade affiliate program is an additional method of making money online by attracting new users to the platform. It is based on the simplest scheme in the form of ordinary advertising, which allows you to earn any amount in a few minutes. All you have to do is to share a referral link leading to the broker's official website. Each new user, after clicking on it and registering, starts working. The partner will receive a percentage for every transaction of the attracted trader which will build up his profit.
The Advantages and Disadvantages of Olymp Trade
|Minimum deposit is $10||Not enough regulation|
|Minimum trade is $1|
|Options bring 80%-95% of profit|
|A free training account for beginners|
|The platform provides a lot of educational resources|
As this Olymp Trade review shows, the company has created an excellent online trading platform and offers excellent starting conditions. It has many strong aspects and allows you to trade from the cozy atmosphere of your home. We have studied dozens of similar service providers and did our best to compare Olymp Trade to other online brokerage companies. Almost all Olymptrade review feedback is positive. And perhaps, the greatest attraction of the broker is an opportunity to develop your skills from a beginner to a professional trader. If you have no experience in online trading, but have a serious desire to learn, you may fully rely on this platform. Competent training and proven strategies will make you a real trader.