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The WikiFX Score of this broker is reduced because of too many complaints!

OlympusFx

Saint Vincent and the Grenadines|5-10 years|
Suspicious Regulatory License|MT4/5 full license|Regional Brokers|High potential risk|

http://olympusfx.com/

Website

Rating Index

MT4/5 Identification

MT4/5 Identification

Full License

1
Server Name
OlympusFinancialGroup-Live MT5
Server Location United States

Contact

http://olympusfx.com/
The WikiFX Score of this broker is reduced because of too many complaints!

Licenses

No valid regulatory information, please be aware of the risk!

VPS Standard
No restriction on the broker account. Support service provided by WikiFX

Single Core

1G

40G

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Broker Information

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Company Name

Olympus Finanacial Group

Company Abbreviation

OlympusFx

Platform registered country and region

Saint Vincent and the Grenadines

Company website

Pyramid scheme complaint

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Warning: Low score, please stay away! 2
Previous Detection : 2024-03-29
  • It has been verified that this broker currently has no valid regulation. Please be aware of the risk!
  • The number of the complaints received by WikiFX have reached 15 for this broker in the past 3 months. Please be aware of the risk and the potential scam!

WikiFX Verification

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    OlympusFx · Company Summary

    Note: For some unknown reason, we cannot open OlympusFxs official site (http://olympusfx.com/) while writing this introduction, therefore, we could only gather relevant information from the Internet to present a rough picture of this broker. Traders should be careful about this issue.

    General Information & Regulation

    General Information & Regulation

    OlympusFx, a trading name of Olympus Financial Group Limited, presents itself as an STP and ECN broker established in 2014 and registered in Saint Vincent and the Grenadines that claims to provide its clients with 100+ tradable financial instruments with leverage up to 1:500 and floating spreads from 0.6 pips on the leading MetaTrader5 trading platform. Here is the home page of this brokers official site:

    General Information & Regulation

    As for regulation, it has been verified that OlympusFx does not fall under any valid regulations. That is why its regulatory status on WikiFX is listed as “No License” and receives a relatively low score of 1.77/10. Please be aware of the risk.

    General Information & Regulation

    Market Instruments

    OlympusFx advertises that it offers access to 100+ trading products, which include forex and metals such as gold and silver, as well as cryptocurrencies of Bitcoin Ethereum, Ripple, Dash, Litecoin, and SataCoin.

    Account Types

    OlympusFx claims to offer demo and Standard accounts. However, it says nothing about the minimum initial deposit requirement to open an account.

    Leverage

    The maximum leverage available from OlympusFx is 1:500 which can be selected when opening up an account. It is important to keep in mind that the greater the leverage, the greater the risk of losing your deposited capital. The use of leverage can both work in your favour and against you.

    Spreads

    OlympusFx claims that the typical spread on the currency pair EUR/USD - 0.6 pips on standard account type.

    Trading Platform Available

    The platform available for trading at OlympusFx is the industrys leading MetaTrader5. In any case, we recommend using MT4 or MT5 for your trading platform. Forex traders praise MetaTrader's stability and trustworthiness as the most popular forex trading platform. Expert Advisors, Algo trading, Complex indicators, and Strategy testers are some of the sophisticated trading tools available on this platform. There are currently 10,000+ trading apps available on the Metatrader marketplace that traders can use to improve their performance. By using the right mobile terminals, including iOS and Android devices, you can trade from anywhere and at any time through MT4 and MT5.

    Trading Platform Available

    Deposit & Withdrawal

    The deposit page gives ASEAN Bank Transfer and RMB Bank Transfer as the only two options with OlympusFx, so bank wire transfers are the only method available. The minimum initial deposit requirement is said to be $50. There is no deposit fee charged. Withdrawal requests will be processed within 24 hours. After this, the time it takes will depend on your own banks processing time but is normally completed between 1 to 5 working days after being processed by this broker.

    Deposit & Withdrawal

    Bonuses

    OlympusFx claims to offer a 100% bonus, and you have 30 days to complete the turnover requirement or the bonus will be removed from your account. In any case, you should be very cautious if you receive a bonus. Bonuses aren't client funds, they're company funds, and fulfilling the heavy requirements that are usually attached to them can prove a very daunting and difficult task. Note that brokers are prohibited from using bonuses and promotions by all leading regulators.

    Bonuses

    Customer Support

    OlympusFx‘s customer support can be reached by email: support@olympusfx.com and info@olympusfx.com. Company address: Suite 305, Griffith Corporate Centre P.O. Box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines. However, this broker doesn’t disclose other more direct contact information like telephone numbers that most brokers offer.

    Risk Warning

    Online trading involves significant risk, and you may lose all of your invested capital. It is not suitable for all traders or investors. Please ensure that you understand the risks involved and note that the information contained in this article is for general information purposes only.

    User Reviews

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    Comments

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    寒风
    more than one year
    Just one piece of advice: Don’t trade with offshore brokers. They will eat up your money and leave you nothing but tears and a broken heart.
    2023-02-16 10:32
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    苹果4775
    more than one year
    This alleged brokerage - OlympusFx and its staff are nothing but scammers and devious people. Do not trust them as it is impossible to get a withdrawal from them.
    2022-12-07 16:08
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    17
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    consumer hotline:006531290538
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