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FOREX.com , OLYMPTRADE Broker Comparison

Do you want to know which is the better broker between FOREX.com and OLYMPTRADE ?

In the table below, you can compare the features of FOREX.com , OLYMPTRADE side by side to determine the best fit for your needs.

  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
  • Rating
  • Basic Information
  • Benchmark
  • Account Information
  • Relevant information
  • Relevant exposure
 2 / 3   brokers in total
Rating
Score
Regulatory Status
WikiFX Guarantee
WikiFX Survey
Risk Evaluation
Exposure
Basic Information
Established
Regulatory license
MT4
MT5
Crypto
Deposit and withdrawal method
Benchmark
environment rating
Transaction Speed
Transaction speed rating
Average transaction speed
The highest transaction speed
The highest speed of opening positions
The highest speed of closing position
Slowest transaction speed
The lowest speed of opening positions
The lowest speed of closing position
Trading slippage
Transaction slippage rating
Average slippage
Maximum transaction slippage
Maximum positive slippage
Maximum negative slippage
Transaction Cost
Transaction cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Rollover Cost
Rollover cost rating
  • Average transaction cost
  • (EURUSD)
  • Average transaction cost
  • (XAUUSD)
Disconnection results
Software disconnection rating
Average disconnection frequency (times/day)
Reconnection time
Account Information
Accounts
Account name
Products
Deposit REQ
Maximum Leverage
Spread of majors
Forced Liquidation Ratio
Spread Types
Minimum Position
Crypto
Lock postition
Scalping
EA trading
FOREX.com
8.45
Domestic Regulation
Under guarantee
15-20 years
ASIC,FCA,FSA,NFA,IIROC,MAS
--
AAA
AA
373.5
189
189
189
1857
1770
1857
AA

EURUSD: -0.1

XAUUSD: 0.1

28
-2
28
C
14.7 USD/Lot
47.4 USD/Lot
AAA

Long: -1.32

Short: -0.49

Long: -5.4

Short: -0.68

AAA
0.2
52.1
STP PRO,COMMISSION,Standard
60 currency pairs Gold & silver
$25,000
--
--
0.00
--
--
--
OLYMPTRADE
1.95
No Regulation
Under guarantee
--
5-10 years
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
--
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FOREX.com 、 OLYMPTRADE BrokersRelevant information

FOREX.com 、 OLYMPTRADE BrokersRelevant exposure

Which broker is more reliable?

You can determine the reliability and credibility of a broker by checking four factors:

1.Forex broker introduction。

2.Are the transaction costs and expenses of forex-com, olymptrade lower?

3.Which broker is safer?

4.Which broker provides better trading platform?

Based on these four factors, we can compare which is reliable. We have broken down the reasons as follows:

Forex broker introduction

forex-com

Let's start here:

Forex.com is a major player in forex trading, providing various options including currencies, commodities, indices, and cryptocurrencies. Their platforms, like the popular MetaTrader 4, are available worldwide to meet different trader preferences. Backed by robust regulation and a strong focus on security, Forex.com is a favored choice for professionals looking for an all-encompassing trading experience. Now, let's delve deeper to verify if Forex.com lives up to its reputation.

Quick Forex.com Review in 10 Key Points
Registered in USA
Regulated by FCA (UK), IIROC (Canada), NFA(USA), ASIC (Australia), and CySEC (Cyprus), MAS ( Singapore), CIMA ( Cayman Islands)
Year(s) of incorporation More than 20 years
Market instruments currency pairs, precious metals, energies, indices, bonds, cryptocurrencies and equities
Minimum initial deposit $100
Maximum leverage Variant
Minimum spread Floating
Trading platform Forex.com and MT5
Deposit and withdrawal methods credit card (Visa, Mastercard, Maestro), bank wire transfer, Skrill and Neteller
Customer Service E-mail address/live chat

It is important to note that the information provided in this review may be subject to change due to the constant updating of the company's services and policies. In addition, the date on which this review was generated may also be an important factor to consider, as information may have changed since then. Therefore, readers are advised to always verify updated information directly with the company before making any decision or taking any action. Responsibility for the use of the information provided in this review rests solely with the reader.

In this review, if there is a conflict between the image and the text content, the text content should prevail. However, we recommend that you open the official website for further consultation.

Pros and cons of Forex.com

Pros Cons
  • Well-regulated
  • Less user-friendly for novice traders
  • Wide variety of investment products
  • An inactivity fee applied after 12 months of no account activity
  • Advanced trading tools
  • High stock trading fees
  • Low forex fees, no fx commissions
  • Multiple trading platforms available
  • Decent customer service
  • Negtive balance protection

What is Forex.com?

Forex.com is one of the most respected and trusted forex brokers in the foreign exchange trading industry. Founded in 2001, Forex.com is a global company licensed and regulated by several reputable regulatory authorities, including ASIC in Australia, FCA in the United Kingdom, FSA in Japan, NFA in the United States, IIROC in Canada, CIMA in the Cayman Islands and MAS in Singapore. These regulators are known for their strict compliance and oversight requirements, which means that Forex.com is required to meet high ethical and operational standards to protect its clients and ensure the safety of their funds.

In the following article, we will analyze the characteristics of this broker in all its dimensions, offering you easy and well-organized information. If you are interested, read on.

basic-info

Broker type

Pros Cons
Offers tighter spreads Acts as counterparty in the operations of its customers
Guarantees the execution of operations under normal market conditions. There may be conflicts of interest
Can offer a greater amount of liquidity and depth in the marketplace Traders do not have direct access to the interbank market.
Offers an easy to use and customizable trading platform Traders may prefer ECN or STP brokers.

Forex.com is a worldwide forex broker offering online trading services in multiple markets, including forex, indices, commodities, cryptocurrencies and stocks.

Forex.com is a Market Maker broker, which means that it acts as a counterparty to its clients' trades, rather than sending trades to the interbank market. As such, Forex.com can offer tighter spreads and guarantee execution of trades under normal market conditions. However, some traders may prefer ECN or STP brokers, which send trades directly to the interbank market and do not act as a counterparty to their clients.

Is Forex.com legit?

Yes, Forex.com operates legally. Forex.com, a globally recognized broker, is part of an international holding company regulated by reputable authorities worldwide, including the FCA (UK), IIROC (Canada), NFA(USA), ASIC (Australia), and CySEC (Cyprus), MAS ( Singapore), CIMA ( Cayman Islands).

Regulated Country Regulated Authority Regulated Entity License Type License Number
ASIC STONEX FINANCIAL PTY LTD Market Making(MM) 345646
FCA Gain Capital UK Limited Market Making(MM) 113942
FSA GAIN Capital Japan Co., Ltd Retail Forex License 関東財務局長(金商)第291号
NFA GAIN CAPITAL GROUP LLC Market Making(MM) 0339826
IIROC GAIN Capital - FOREX.com Canada Ltd. Market Making(MM) Unreleased
CIMA GAIN Global Markets, Inc Market Making(MM) 25033
MAS STONEX FINANCIAL PTE. LTD. Retail Forex License Unreleased

Forex.com's Australian entity, STONEX FINANCIAL PTY LTD, regulated by the ASIC in Asutralia under regulatory number 345646, holding a license for Market Making(MM).

regulation

Forex.com's UK entity, Gain Capital UK Limited, regulated by tier-one regulatory FCA under regulatory number 113942, holding a license for Market Making(MM).

regulation

The entity based in Japan, GAIN Capital Japan Co., Ltd, regulated by FCA under regulatory number 関東財務局長(金商)第291号, holding a license for Retail Forex License.

regulation

GAIN CAPITAL GROUP LLC, the US entity, regulated by the NFA under regulatory number0339826, holding a license for Market Making(MM).

regulation

Candian entity, GAIN Capital - FOREX.com Canada Ltd., is regulated by the IIROC, holding a license for Market Making (MM), with license unreleased.

regulation

GAIN Global Markets, Inc, another entity in the Cayman Islands, regulated by CIMA under regulatory number 25033, holding a license for Market Making (MM).

regulation

STONEX FINANCIAL PTE. LTD., the entity in Singapore, regulated by the MAS in Singapore, holding a license for retail forex.

regulation

Market instruments

Pros Cons
It offers a wide variety of trading instruments, allowing traders to find opportunities in different markets. Offering a wide variety of trading instruments, it can be overwhelming for traders who are new to the market and do not have experience in all available markets.
Diversification of trading instruments can help traders manage the risk of their portfolios. Some trading instruments may have higher costs in terms of spreads or commissions, which may reduce the profitability of trades.
Forex.com offers a variety of market analysis and education tools to help traders make informed decisions about trading instruments. Traders may find that the variety of trading instruments may be too wide, making it difficult to identify profitable trading opportunities.

Forex.com offers a wide variety of trading instruments, including currency pairs, precious metals, indices, futures and options, stocks. Traders have a wide range of options to choose from and can find opportunities in a variety of markets.

products

Forex.com Minimum Deposit

The minimum deposit amount required to register a Forex.com Standard live trading account is $100 USD, which is quite friendly to most investors.

Here is the table showing the comparison of Forex.com minimum deposit with other brokers:

Broker Minimum Deposit
label
$100
label
$10
label
$5
label
$200

Forex.com Account Types

Pros Cons
Demo account available for risk-free practice No Islamic account offered for traders who follow Shariah law
Offers two account types to suit different trading needs The standard account has wider spreads compared to the MT5 account.
The standard account is ideal for traders looking for a wide variety of advanced charting tools and a wide selection of markets. MT5 account can be more complex for beginner traders
Both accounts offer access to Forex.com's award-winning, technologically advanced and easy-to-use trading platform. The MT5 account has a more limited selection of markets to trade compared to the standard account.
Customers can switch between the two accounts at any time to meet their business needs. The standard account does not offer multi-asset class trading, like the MT5 account.

Forex.com offers its clients two types of trading accounts: the standard account and the MT5 account. The standard account is ideal for traders looking for a wide range of advanced charting tools with more than 80 technical indicators and a wide selection of markets to trade with competitive spreads starting from 0.8 pips on the EUR/USD currency pair. In addition, this account does not charge commissions on over 300 markets. On the other hand, the MT5 account is ideal for traders looking for up-to-date tools and analysis, multi-asset class trading, expert advisors and custom indicators. Both accounts offer access to Forex.com's award-winning, technologically advanced and easy-to-use trading platform. In addition, clients can switch between the two accounts at any time to suit their trading needs.

account-types

Forex.com Demo Account

Forex.com provides beginners with demo accounts, allowing them to practice in a real trading setting without any financial risks. Demo accounts come with $50,000 in virtual funds and are active for 30 days from the time of registration. Please be aware that once this period ends, you won't be able to access the demo account with the same login details. Notably, each email address can only be used to open one demo account for each type, whether it's on FOREX.com platforms or MetaTrader.

With Forex.com demo accounts, you can enjoy the following features:

  • $50,000 virtual funds

  • Demo accounts active for 30 days

  • Access to 80+ tradable FX pairs, plus gold and silver

  • Using customizable charts

Here is the simple demo account sign-up process for you to follow:

Step 1: click the “Free Demo Account” button on the “Account” Navigation section;

demoa-acount

Step 2: Fill in your full name, email and phone number in the form, and then click “ I'm not a robot” for verification.

demo -account

Step 3: After a simple registration, you can use the demo account and start trading.

Spreads and commissions

Pros Cons
Low spreads on a wide range of instruments Spreads can be variable and can widen during periods of high volatility.
Low commissions for stock trading Forex.com is a Market Maker broker, which means that there may be a conflict of interest.
Average speed of fast execution It does not offer trading accounts with variable spreads.
Very low spreads on the EUR/USD currency pair Some traders may prefer ECN or STP brokers that send trades directly to the market.
Low spreads for spot oil trading
Low spreads for gold trading

Forex.com offers competitive spreads and low commissions on a wide range of trading instruments. Spreads for the EUR/USD currency pair start from as low as 0.018 pips, which is very low compared to other brokers. In addition, spreads for the Germany 40 and UK 100 indices start from 1 pip, and commissions for trading stocks start from 0.1%. Traders can also trade spot oil with spreads starting from 0 pips, which can be very attractive for those interested in commodity trading. In addition, the average trade execution speed on Forex.com is 0.04 seconds, which means that traders can expect fast execution of their trades. Finally, spreads for gold start as low as 0.15 cents, which can be very attractive for traders looking to trade the precious metals markets.

spread-commission

Trading Platform

Pros Cons
Forex.com's MT5 platform is fast and offers a wide range of technical analysis tools and resources. Some traders may prefer other popular platforms such as MetaTrader 4.
The MT5 platform can be customized to each trader's preferences. Traders who prefer a simpler platform may find the Forex.com platform a bit overwhelming.
The Forex.com platform is easy to use and designed to provide an intuitive trading experience. The Forex.com platform is not as advanced as MT5 and may not be suitable for more experienced traders looking for more advanced tools.

Forex.com offers its clients the MT5 trading platform, one of the most popular and advanced trading platforms on the market. MT5 is known for its fast order execution and wide range of technical analysis tools and resources. In addition, traders can customize the platform according to their needs and preferences.

In addition to MT5, Forex.com also offers its own trading platform, the Forex.com platform. This platform is easy to use and is designed to provide an intuitive and customizable trading experience. The Forex.com platform features advanced trading tools, real-time charting and a wide range of technical indicators, making it a good choice for traders of all experience levels.

trading-platform

Forex.com Margin

Margin on Forex.com is a financial requirement that traders must meet in order to maintain their open positions. The margin requirement varies by platform (FOREX.com or MetaTrader), market, asset class and position size. Each instrument on Forex.com has its own margin information that can be found on the market information sheet on the FOREX.com platforms. To calculate the margin required to open a position, simply multiply the total nominal value of the trade (quantity x instrument price) by the margin factor. Traders can use the platform's margin calculator to find out the margin required before opening a position. In addition, Forex.com allows monitoring the margin requirements of each position individually and reviewing the total margin requirement of the account through the Margin Indicator. It is important to remember that the margin requirement may change over time as market prices fluctuate.

Negative balance protection

Forex.com offers negative balance protection on all of its trading accounts. This means that clients cannot lose more money than they have in their account, providing an additional layer of security and peace of mind in trading. In the event that an extreme market situation occurs and a position moves against the client, Forex.com will automatically close the position before the account balance falls below zero. This protection helps limit risk for clients and is an important feature to consider when choosing a forex broker.

Deposit and Withdrawal

Forex.com offers several payment methods for depositing and withdrawing funds, such as credit card (Visa, Mastercard, Maestro), wire transfer, Skrill and Neteller. Deposits are processed within 24 hours, which means traders can start trading quickly. Withdrawals are also fast, usually taking 1-2 business days to process. It is important to note that Forex.com does not charge any additional fees for deposits or withdrawals, but payment service providers may impose their own fees.

deposit-withdrawal

Forex.com Education

Forex.com offers a wide variety of tools and resources to help traders make informed decisions, including technical analysis, economic calendars, real-time news, free webinars and seminars, and a free demo account to practice and improve trading skills.

educational-resources

Forex.com Customer Service

Forex.com offers exceptional customer service, with 24-hour support in multiple languages via live chat, email and address. In addition, the broker has an extensive online help center covering topics from account opening to trade execution and risk management. It also offers a news and analysis section, which includes an economic calendar and real-time market news, allowing clients to stay informed and make informed decisions. Overall, Forex.com demonstrates a strong commitment to customer satisfaction and provides all the tools necessary for traders to succeed in their trading experience.

E-mail: support@forex.com

Address: 30 Independence Blvd, Suite 300 (3rd floor), Warren, NJ 07059, USA

Conclusion

In summary, Forex.com is a well-regulated and respected broker with a wide variety of trading instruments and easy-to-use trading platforms. With its solid reputation in the industry and its focus on security and protection of client funds, Forex.com is an attractive option for traders looking for a reliable and secure broker.

Frequently asked questions about Forex.com

Q: Does Forex.com offer a demo account for practice?

A: Yes, Forex.com offers a free demo account for traders who want to practice before trading with real money. The demo account offers full access to the trading platforms and market analysis tools for a limited period of time.

Q: What is the minimum deposit to open an account at Forex.com?

A: The minimum deposit to open a Forex.com account varies depending on the type of account the trader chooses and the trader's location. In some cases, it can be as low as 10 0 dollars.

Q: Does Forex.com charge commissions for trades?

A: Forex.com charges commissions for some trades, such as stock trading. However, it does not charge commissions in most markets. Instead, Forex.com earns profits through the spread between the bid and ask prices of assets.

Q: Does Forex.com have any kind of training or education program for traders?

A: Yes, Forex.com offers a wide variety of educational resources for traders of all levels, including live webinars, seminars, trading guides, articles and educational videos.

Q: What payment methods does Forex.com accept?

A: Forex.com accepts various payment methods, including credit and debit cards, bank transfers, as well as electronic payment systems such as Skrill and Neteller. Processing times and deposit and withdrawal limits may vary depending on the method chosen and the trader's location.

olymptrade
Registered in St. Vincent and the Grenadines
Regulated by No effective regulation at this time
Year(s) of establishment 2-5 years
Trading instruments Information not available
Minimum Initial Deposit Information not available
Maximum Leverage Information not available
Minimum spread Information not available
Trading platform MT4
Deposit and withdrawal method Information not available
Customer Service Email/phone number/address
Fraud Complaints Exposure Yes

Note: At this time, we only have a cursory look at OLYMPTRADE as the company's official website (https://olymptrade.com/ ) does not open properly.

General information

Screenshot time: 01/28/2023

WikiFX provides dynamic scoring, it will track the broker's dynamic real-time scoring, the current time screenshot scores do not represent past and future scoring.

General information and regulations

OLYMPTRADE is registered in St. Vincent and the Grenadines and appears to be a fraudulent broker without any credible regulation, with a history of no more than 5 years. Unfortunately, we could not find any more detailed information about this broker on the internet.

OLYMPTRADE caters to a diverse range of traders, including beginners and experienced traders alike.The platform offers a wide range of financial instruments for trading, including currencies, stocks, metals, indices, commodities, cryptocurrencies, ETFs, OTC, and composites. Traders have the flexibility to choose between two types of accounts: Real Account and Demo Account. The Real Account allows traders to engage in live trading with real money, while the Demo Account provides a risk-free environment for practice. While specific information about spreads is not available on the website, OLYMPTRADE mentions that there are no commissions charged.Traders can access the OLYMPTRADE trading platform via a downloadable application on both mobile and desktop devices. The platform offers a user-friendly interface with various trading tools, features, educational resources, market analysis reports, and customer support services available 24/7.

When choosing a forex broker, you should know that a regulatory license does not necessarily guarantee the reliability of a broker as it may be an expired or cloned regulatory license, but a broker without any regulatory license has a high probability of being unreliable.

Pros and Cons

OLYMPTRADE offers a user-friendly trading platform with a wide range of market instruments, a demo account for practice, comprehensive customer support, and educational resources. However, it is not regulated by a reputable authority, lacks transparency on leverage and spreads, provides limited information on fees and commissions, has a relatively low minimum deposit requirement, and offers limited advanced features. Traders should carefully consider these pros and cons before deciding to trade with OLYMPTRADE.

Pros Cons
User-friendly trading platform with a range of tools and features. Not regulated by a reputable financial authority, which carries higher risk.
Wide selection of market instruments, including currencies, stocks, metals, cryptocurrencies, and more. Lack of transparency regarding leverage and spreads.
Demo account available for practice and learning. Limited information on trading fees and commissions.
Comprehensive customer support available 24/7. Relatively low minimum deposit requirement may attract inexperienced traders.
Educational resources to enhance trading knowledge and skills. Limited availability of advanced trading features and platforms.

Market Intruments

OLYMPTRADE offers a diverse range of market instruments, including currencies, stocks, metals, indices, commodities, cryptocurrencies, ETFs, OTC trading, and composites, providing traders with ample opportunities to engage in various trading strategies.

  1. Currencies: OLYMPTRADE offers a wide range of currency pairs for trading, including major pairs such as EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs like USD/TRY and NZD/CAD. Traders can speculate on the exchange rate movements between these currency pairs.

  2. Stocks: OLYMPTRADE provides access to a variety of stocks from global markets. Traders can invest in individual company stocks, such as Apple, Amazon, or Google, and speculate on their price movements. Stock trading allows traders to benefit from the performance of specific companies.

  3. Metals: OLYMPTRADE allows trading in precious metals like gold, silver, platinum, and palladium. These metals are often seen as safe-haven assets and can be used as a hedge against inflation or economic uncertainties. Traders can speculate on the price fluctuations of these metals.

  4. Indices: OLYMPTRADE offers trading on major stock indices from around the world, including the S&P 500, NASDAQ, FTSE 100, and Nikkei 225. Index trading allows traders to speculate on the overall performance of a specific stock market, rather than individual stocks.

  5. Commodities: OLYMPTRADE provides access to various commodities such as oil, natural gas, and agricultural products like corn and wheat. Commodity trading allows traders to speculate on the price movements of these essential goods, which can be influenced by factors like supply and demand dynamics, weather conditions, and geopolitical events.

  6. Cryptocurrencies: OLYMPTRADE offers trading in popular cryptocurrencies like Bitcoin, Ethereum, Litecoin, and Ripple. Cryptocurrency trading allows traders to speculate on the price volatility of these digital assets, which have gained significant popularity in recent years.

  7. ETFs (Exchange-Traded Funds): OLYMPTRADE allows trading in ETFs, which are investment funds traded on stock exchanges. These funds are composed of a basket of assets, such as stocks, bonds, or commodities. Traders can invest in ETFs to gain exposure to a diversified portfolio of assets.

  8. OTC (Over-the-Counter): OLYMPTRADE provides over-the-counter trading, which refers to trading financial instruments directly between two parties without the involvement of an exchange. OTC trading allows for more flexible and customized transactions, particularly for certain derivatives and exotic instruments.

  9. Composites: OLYMPTRADE offers composite instruments, which are synthetic assets created by combining multiple financial instruments. These composites can represent various strategies or themes, such as a basket of stocks from a particular sector or a combination of different asset classes. Traders can speculate on the performance of these composites.

market-instruments

Trading platform(s) offered by OLYMPTRADE

Although a long time has passed since the launch of MT4, it is still a major player in the market and is loved by traders all over the world. Accessing it from different devices also makes it easier for users to trade.

plataformas de trading

Account Types

OLYMPTRADE offers two types of accounts: Real Account and Demo Account. The Real Account allows traders to engage in live trading with real money, providing access to the full range of market instruments and features offered by OLYMPTRADE. Traders can deposit funds into their Real Account and trade in real-time market conditions, experiencing the actual risks and rewards of trading.

On the other hand, the Demo Account is a practice account that allows traders to simulate trading without using real money. It is an excellent option for beginners or those who want to test trading strategies and explore the platform's functionalities. The Demo Account provides virtual funds, enabling traders to practice and gain confidence before venturing into live trading.

account-types

How to open an account?

Here is a brief description of the account opening process for OLYMPTRADE:

open-account
  1. Registration: Visit the OLYMPTRADE website and click on the “Register” button to start the registration process. Fill in the required information, such as your name, email address, and preferred password. Make sure to read and agree to the terms and conditions before proceeding.

  2. Account Verification: After completing the registration, you may need to verify your account. OLYMPTRADE may require you to provide certain documents for verification purposes, such as a copy of your identification document (e.g., passport or driver's license) and proof of address (e.g., utility bill or bank statement). Follow the instructions provided by OLYMPTRADE to submit the necessary documents.

  3. Account Funding: Once your account is verified, you can proceed to fund your account. OLYMPTRADE offers various deposit methods, such as credit/debit cards, bank transfers, and electronic payment systems. Choose your preferred payment method and follow the instructions to make a deposit. Be aware of any minimum deposit requirements set by OLYMPTRADE.

  4. Platform Access: Once your account is funded, you will gain access to the OLYMPTRADE trading platform. You can log in using your registered email address and password. The platform provides a user-friendly interface with a range of trading tools and features.

  5. Account Configuration: Before you start trading, you may need to configure your account settings. This includes selecting your preferred language, setting up notifications, and adjusting other platform preferences according to your trading preferences. Take some time to explore the platform and familiarize yourself with its features.

It's important to note that the specific steps and requirements may vary, so it's advisable to refer to the official OLYMPTRADE website or contact their customer support for the most accurate and up-to-date information regarding the account opening process.

Leverage

The official website of OLYMPTRADE does not provide specific information about leverage. However, it is common for similar types of brokers to offer leverage ratios ranging from 100:1 to 500:1. Please note that leverage allows traders to multiply their trading positions, but it also amplifies both potential profits and losses. It is important to fully understand the implications of leverage and exercise responsible risk management when trading on any platform. For accurate and up-to-date information about leverage on OLYMPTRADE, it is recommended to refer to the broker's official website or contact their customer support.

Spreads & Commissions (Trading Fees)

OLYMPTRADE's official website does not provide specific information about spreads. However, it is mentioned that there are no commissions charged. In general, similar brokers in the industry offer spreads that start from 0 to 0.1 pips. Spreads refer to the difference between the bid and ask prices of a financial instrument and can vary depending on market conditions and the specific asset being traded. For accurate and up-to-date information about spreads on OLYMPTRADE, it is recommended to refer to the broker's official website or contact their customer support.

spreads-commission

Deposit & Withdrawal

OLYMPTRADE provides a simple and convenient deposit and withdrawal process for its traders. The minimum deposit amount is 10 USD/10 EUR, making it accessible for traders with varying budgets. OLYMPTRADE supports multiple deposit and withdrawal methods, including Bank Transfer, Credit/Debit Cards, Bank Wire Transfer, E-wallets, and Cryptocurrency.

Traders can choose to deposit funds using popular payment options such as credit or debit cards, bank transfers, and e-wallets.

Similarly, when it comes to withdrawing funds, OLYMPTRADE supports the same methods used for deposits. The withdrawal process is typically straightforward, and the platform strives to process withdrawal requests promptly. However, the processing time may vary depending on the chosen withdrawal method and the policies of the respective financial institutions involved.

deposit-withdrawal
deposit-withdrawal

Customer support

The support service provided by OLYMPTRADE is not very extensive. It can only be accessed via email, address and a phone number. Since the company's website is not currently open, we do not know if it offers other services such as live chat, callback, FAQ, 24/7 or 24/5 service, etc.

Below are the details about the customer service.

Email: support@olymptrade.com

support-en@olymptrade.com

Phone Number: +356 20341634

Address: 54, Immakulata, Triq il-Mina ta Hompesch, ZABBAR ZBR 9016.

Users exposures

On our website, you can see that many users have reported scams. Please be aware and exercise caution when investing. You can check our platform for information before trading. If you find such fraudulent brokers or have been a victim of one, please let us know in the Exposure section, we would appreciate it and our team of experts will do everything possible to solve the problem for you.

users' exposure

Conclusion

OLYMPTRADE is an online trading platform that caters to a diverse range of traders, offering a wide selection of market instruments and account types. The platform provides a user-friendly interface, downloadable on mobile and desktop devices, with access to real-time market quotes, trading tools, and educational resources. However, it is important to note that OLYMPTRADE is not regulated by a reputable financial authority, which poses a higher risk for traders. The platform lacks transparency on leverage and spreads, limited information on fees and commissions, and advanced features. Traders should carefully evaluate these pros and cons before deciding to trade with OLYMPTRADE. While OLYMPTRADE offers convenience and comprehensive customer support, traders should exercise caution and conduct thorough research before opening an account.

FAQs

Q: Is OLYMPTRADE a regulated broker?

A: No, OLYMPTRADE is not a regulated broker.

Q: What is the minimum deposit required to open an account with OLYMPTRADE?

A: The minimum deposit required to open an account with OLYMPTRADE is 10 USD/10 EUR.

Q: What trading instruments are available at OLYMPTRADE?

A: OLYMPTRADE offers a wide range of trading instruments, including currencies, stocks, metals, indices, commodities, cryptocurrencies, ETFs, OTC trading, and composites

Q: Does OLYMPTRADE offer a demo account?

A: Yes, OLYMPTRADE offers a demo account that allows clients to practice trading in a risk-free environment with virtual funds.

Q: What trading platforms does OLYMPTRADE offer?

A: OLYMPTRADE offers their our trading platform.

Are the transaction costs and expenses of forex-com, olymptrade lower?

To compare transaction costs across different brokers, our experts analyze the transaction-specific fees (such as spreads) and non-trading fees (such as inactivity fees and payment costs).

To get a comprehensive understanding of how cheap or expensive forex-com and olymptrade are, we first considered common fees for standard accounts. On forex-com, the average spread for the EUR/USD currency pair is -- pips, while on olymptrade the spread is --.

Which broker between forex-com, olymptrade is safer?

To determine the safety of our top brokers, our experts will consider many factors. This includes which licenses the broker holds and the credibility of these licenses. We also consider the history of brokers, because long-term brokers are usually more reliable and trustworthy than new brokers.

forex-com is regulated by ASIC,FCA,FSA,NFA,IIROC,MAS. olymptrade is regulated by --.

Which broker between forex-com, olymptrade provides better trading platform?

When our experts review brokers, they will open their own accounts and trade through the broker's trading platform. This enables them to comprehensively evaluate the quality, ease of use, and function of the platform.

forex-com provides trading platform including STP PRO,COMMISSION,Standard and trading variety including 60 currency pairs Gold & silver. olymptrade provides trading platform including -- and trading variety including --.

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