Global Broker governance & inquiry App

Olymp Trade

Saint Vincent and the Grenadines

2-5 years

Suspicious Regulatory License

Suspicious Scope of Business

High potential risk

Score

1.47 /10
Negative

Score

1.47

/10

Website

Basic Information

  Olymp Trade was founded in 2014 and is currently housed on the first floor of the First St. Vincent Bank Ltd Building, owned and operated by Saledo Global LLC. The company's headquarters are located in St. Vincent and the Grenadines. Since 2016, Olymp Trade has been a member of FinaCom, also known as the financial commission. Membership in FinaCom is only granted to businesses who guarantee the safety of their clients by compensating them for losses of up to 20,000 Euros through the Finacom compensation fund. Currently, Olymp Trade is not subject to any regulation authority.

Basic

  The brand has picked up several awards, including:

  • Best Financial Broker at the CPA Life Awards 2017,

  • Best Options Broker at the Forex Expo 2017,

  • Best Options Trading Platform at Le Fonti 2016

  • Fastest Growing Broker at ShowFx World 2016.

  As one of the more popular brokers on the market, Olymp Trade offers an easy user interface, great customer service and plenty of options to learn how the markets work.

  Its a platform which is suitable for new users and experienced traders alike, and its high level of daily users is testament to the sort of service provided by the brand.

Market Instruments

  Olymp Trade provides investors with access to a diverse range of trading assets, including major currency pairings, indices, cryptocurrencies, stocks, and commodities, sourced from well-known corporations such as Microsoft, Apple, and IBM. The platform provides less experienced traders with a user interface that is easy to understand.

Market

How many trading accounts are offered?

  A trader is required to make a minimum deposit of $10 into their account in order to initiate the creation of a starting Starter account. If they want to trade, they can begin trading with a fixed sum, which can be as little as $1 and as much as $2,000. The smallest amount that may be withdrawn is ten dollars, and there is no cap on the amount that can be withdrawn in total; however, if you want to open an Advanced account, you will need to deposit at least five hundred dollars into your account.

  If the trader is interested in having an Expert account, they need to make a deposit of at least $2,000 in order to qualify. When compared to other types of trading accounts, this form of account offers a greater number of perks.

Account

Brokerage Account Fee

  If a customer has not made any trades in their live account or has not deposited or withdrawn cash, a monthly fee of ten dollars (ten dollars in US currency or the equivalent in the customer's account currency) will be applied to their accounts. This policy is ingrained in both the KYC/AML Policy and the non-trading restrictions.

  In the event that there are insufficient money in the user account, the amount of the inactivity fee will be equal to the current balance of the account. An account that has no money in it will not be subject to any fees. If there is no money in the account, there is no obligation to pay the corporation any debt that has been accrued.

  If the trader makes one transaction in their live account within the previous 180 days, whether it be a trading or non-trading activity (funds deposit/withdrawal), there will be no charge for the account's service fee.

How to open an account?

  The first step in opening an account is to register on the website, which is a simple process. Click on the Register button on either the Olymp trade website or mobile app. Details like their complete name, email, and password are also required. They can also choose between Euros or dollars when submitting their information. It's also important that they provide a password that is strong enough to protect their genuine account. Verify the facts before moving on.

How

  Investors who sign up for the first time with Olymp Trade Broker will automatically be enrolled to trade options. After completing the registration process, the user will be able to access Olymp Trade Login and use the free demo account. Virtual funds of $100,000 are provided in this sample account, which is identical to the genuine account.

Leverage

  Olymp Trade provides traders with different leverage sizes; the magnitude of the leverage is determined by the type of trade the trader intends to execute when they make a transaction. It provides maximum leverage of up to 400:1. A leverage of 30:1 is made available for some of the most popular forex trading pairs, such as EUR/USD. A leverage of 20:1 is made available for smaller forex pairs, such as NZD/USD, AUD/CAD, and USD/SGD.

Trading Platforms Available

  Olymp Trade provides a web interface that is accessible on desktop computers as well as mobile devices. Advanced traders also have access to the MetaTrader 4 platform, which is supported by this broker.

  Olymp Trade also provides a mobile trading app, and users are able to utilize this mobile trading platform. This mobile trading software is available in both the Android and iOS versions, and it can be obtained from the Google Play Store and the Apple App Store, respectively. The user can download the software, and after it is installed, they will be able to trade real money online while they are on the move.

  Olymp Trade offers “Olymp Plus”, which is widely recognized as the encyclopedia of the various trading information that is presented in a way that is user-friendly and uncomplicated. The users are given access to a variety of resources, including tutorials, analysis of the financial markets in the form of films, tried-and-true strategies, advice from a variety of specialists, the most recent headlines, and market news and updates.

Trading

  The Olymp Trade platform is simple to use, with a strong emphasis on the user experience.

  It's clean, well-organized, and has links that make it really simple to discover what you're searching for.

  The Olymp Trade platform is offered over the web, a specialized desktop program (for Windows and Mac), and a smartphone/tablet app (for Android/iOS).

  The website is simple to use and offers users just what they need to know — not just to log their transactions, but also to trade profitably.

  On the main page, there's a clear, succinct chart with numbers and timeframes that makes it easy to grasp. Charts can also be customised via graph type and colour. At the bottom of the web page users will find information on open/closed trades along with a help/chat function.

  This design makes it exceptionally easy for users to find what they need in a simple manner.

Deposit & Withdrawal

  Olymp Trade gives customers a number of different choices when it comes to depositing funds. Bank transfers, credit or debit cards, Skrill, Neteller, and various cryptocurrencies are all examples of these payment methods. The processing of the payments happens almost immediately, although the bank transfers from their own bank account can take several hours. In addition, there are no fees or commissions associated with deposits, and the minimum amount required is only ten dollars.

  When an investor wants to withdraw funds, the process can be completed more quickly if they use the same method that was used to deposit cash in the first place. The withdrawal is handled on the same day; however, if the bank transfer option is used, it may take up to three business days to complete the transaction.

  Olymp Trade asserts that it does not levy any fees on traders for making deposits or withdrawing funds from their accounts.

Deposit

Customer Support

  Olymp Trade offers customer service that operates 24×7; quality service is offered in 14 languages. The Olymp trade team can be reached through email (support-en@olymptrade.com ), phone (+27-21 1003880 Cape Town, South Africa, +54-11 59175747 Buenos Aires, Argentina, +356-20341634 Malta) and live chat. It also provides a FAQ section that can be seen on the website which is very helpful for users to expect the right answers to the queries.

Customer

  Company Name: Olymp Trade

  Phone: +84 2844 581 413

  Email: news@olymptrade.com, support-cn@olymptrade.com

  Web: olymptrade.com

  Platform registered country and region: Saint Vincent and the Grenadine

  https://www.wikifx.com/en/dealer/4641743909.html

Pros and Cons

  Some advantage and disadvantage of this broker are listed below:

  Pros

  •   24/7 Dedicated Support

  •   Wide Range of Asset

  •   Extensive Training Optio

  •   Low Initial Deposit

  •   User-Friendly Platform

  Cons

  •   No Regulatio

  •   Limited Bonuse

  •   Not Accept US or EU Client

  •   Customer Accounts Not Segregated

User reviews

  Here, we have compiled some authentic customer reviews, taking into account the fact that each trader has a unique experience. Some investors believe that this broker is helpful in some way, while others consider him to be nothing more than a scam.

User
User
User

Educational Resources & Tools

  Olymp Trade offers a variety of instructional and training materials to traders, such as analyst help, webinars, live tracking, and analysis of the values of various assets.

  Traders of all experience levels can improve their abilities with the help of these materials. Users can gain access to a variety of fascinating subjects, relevant to their trading careers, whenever they want, wherever they are, provided they make use of educational materials and other tools.

  The following is a selection of tools that can be of use to traders in carrying out effective trading. Listed below are some of them:

  l Great Charting Package

  l Trading Checklist

  l Forex Market Hour

  l Traders Profit Calculator

  l Economic Calendar

  l Trade Log for Binary Optio

Assets/Markets

  Olymp Trade offers users the opportunity to trade in the following markets. However, it is worth pointing out that instrument availability will vary depending on where the trader resides:

  •   Stock

  •   Commoditie

  •   ETF

  •   Currencie

  •   Cryptocurrency

Spreads & Commission

  While testing a standard demo account, the benchmark EURUSD spread levelled at approximately 1.1 pips, which makes Olymp Trade one of the most competitive brokers in the marketplace. However, even on a standard account, spreads remain competitive. Its worth pointing out that spreads are liable to increase/decrease depending on the current market conditions.

Fees

  Olymp Trade imposes a fixed rate overnight fee on overnight trades that is restricted to 15% of the entire investment amount.

  The brand does not charge an account maintenance fee or other custodial costs, but it may charge a subscription (depending on your account type) or an inactivity fee if you have not used your account for 180 days.

  This is usually around $10 each month. The account will be terminated if there are insufficient funds in it.

  In currency mode, Olymp Trade additionally charges a fee each deal based on the trade amount, multiplier, specification criteria, and current market scenario.

Payment Methods

  Olymp Trade users have the choice of several different deposit and withdrawal methods. However, withdrawals must be made by the same method as the initial deposit (up until the matched deposit amount).

  This is standard practice in the industry to prevent money laundering.

Demo Account

  Olymp Trade offers users the chance to test out its platform with a free demo account. This allows users to see if the platform will work for them before they decide to invest real money.

  Each demo account comes pre-loaded with a balance of $10,000 virtual funds.

  This demo account is useful because it allows newcomers to gain an understanding of how trading works, while also allowing experienced traders to review Olymp Trade and get a feel for how the interface functions.

  All the options in a paid standard account are available in demo mode. To activate a demo account, users simply need to register with an email address, and wont need to provide any proof of identity unless they decide to register for a paid account.

Regulation & Licensing

  Before choosing a broker, you should be on the lookout for a platform which is well regulated by an official government body of note.

  Olymp Trade is regulated by the International Financial Commission (IFC) and headquartered in St. Vincent and the Grenadines.

  However, concern has been raised in the past about the legitimacy of the International Financial Commission, and users may want to conduct a little bit of research into this body before deciding whether to consider Olymp Trade as a completely trustworthy broker.

  The reason for this is because funds are generally only considered safe when a broker is regulated by an official body such as the UK Financial Conduct Authority (FCA), the Cyprus Securities & Exchange Commission (CySEC) or the Australian Securities & Investments Commission (ASIC).

Benefits

  •   Attractive spread

  •   Leverages of up to 1:400

  •   Variety of payment methods available

  •   MT4 supported

  •   Beginner-friendly

  •   Supports multiple language

  •   77 assets to choose from

  •   Low minimum deposit amount

  •   Intuitive desig

  •   User friendly mobile a

  •   Drawback

  •   Withdrawal problems for non-verified account

  •   Concerns over dubious regulatio

  •   Bonuses with unclear term

  •   Only two account type

Trading Hours

  It is possible to access the Olymp Trade website 24 hours a day, seven days a week, 365 days per year. Essentially, investors can trade whenever (and wherever) they see fit via mobile and desktop devices.

  It is, however, worth mentioning that the available markets are not open 24/7.

  While Olymp Trade can be accessed at any time, trading is limited to the hours that your market of choice is open. For example, the forex market in London opens between 3 am-12 pm GMT.

  In New York, the forex market operates between 5 pm-2 am GMT. In Tokyo, it opens between 7 pm-4 am GMT.

  There are usually opportunities to trade at any given time, although you may find yourself restricted, particularly if you only choose to trade on certain markets.

Accepted Countries

  Olymp Trade accepts traders from Thailand, South Africa, Singapore, Hong Kong, India, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar and most other countries.

  Traders can not use Olymp Trade from Canada, Australia, United States, Japan, Austria, Belgium, Bulgaria, Cyprus, Denmark, Finland, France, Germany, Ireland, Italy, Israel, Latvia, Lithuania, Netherlands, Norway, New Zealand, Portugal, Poland, Romania, Slovakia, El Salvador, Spain, Switzerland, Sweden, United Kingdom, Russian Federatio

Review

Unable to WithdrawNo llego a mi cuenta de banco el dinero que retire de Olymp Trade

El día 02 de noviembre realice retiro del broker Olymp Trade, con la sorpresa que este no acredito los fondos en mi cuenta de Nequi la cual está registrada con el número de celular. RAFAEL GONZALEZ FUENTES identificado con cedula de ciudadanía No. 17.973.759, también tiene una cuenta en el Broker Olymp Trade con el ID: #2846953958, de manera comedida adjunto prueba de soportes de la transacción para poder validar su estado actual y poder recuperar mi dinero.

nando9642 2023-12-19 02:27 Released in Colombia
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No llego a mi cuenta de banco el dinero que retire de Olymp Trade

Others88768928 my account id

i am deposit 1000 but credited in my account 3 days allready paid but not responding

FX6413856502 2023-05-15 23:50 Released in India
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88768928 my account id

ScamScammed

I got scammed from this app of recent,I deposited 52000 naira to this app claiming to double my money for me in the next 24hours,after 24hrs nothing was received and I even call their customer care they all blocked me,please run away from them

AJAO TOOSIN 2021-08-29 20:16 Released in Nigeria
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Scammed

ScamWas scammed by Olymp Trade

So they had someone message me on Instagram told me the start up amount was 20 dollars and I'll double that up in one day little did I know in 1 minute all that money would be gone but stupid me went and deposit more money in and for someone that doesn't work that was a lot of money to lose but I was so desperate to make money that I would believe everything and anything

FX1548076389 2021-05-26 21:11 Released in South Africa
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Was scammed by Olymp Trade

ScamOlymp Trade

Olymp Tradeโกงกราฟ bitcoinและอื่นๆก็น่าจะโกงด้วย

FX1731252162 2021-05-15 16:52 Released in Thailand
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Olymp Trade

Unable to Withdrawreturn back my money!

i can not withdraw my funds which i invest in olymptrade!

FX8529612728 2020-04-15 18:11 Released in Nigeria
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return back my money!
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