Rating
/10
The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints! The WikiFX Score of this broker is reduced because of too many complaints!
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Regulatory Index
No valid regulatory information
Please be aware of the risk!
Company Name:
olymptrade.comCompany Abbreviation:
OLYMPTRADEPlace of registration:
Regulatory Status:
Lots of ComplaintsCustomer Service Email Address:
support-en@olymptrade.comCustomer Service Phone Number:
+27 (21) 1003880Company summary
Olymp Trade has been one of the leading online brokers since 2014. Olymp Trade joined the IFC in 2016. Olymp Trade received the 2017 Best Options Broker Award at Forex Expo and the 2017 CPA Life Best Financial Broker Award. Olymp Trade's official website does not show any regulatory information. About MoreWarning: Low score, please stay away!
Previous Detection: 2021.04.12 Risk: 3 Item
Exhibition Area
Survey
MT4/5
Website
Genealogy
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Time Machine
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Market Analysis
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Language
I think it's a fraud platform... so far I have spent over 300 dollars trying to trade with some progress, at the blink of a second, the price trends will suddenly reverse to a lose of trade, this occurs again and again thereby causing me to eventually lose all my money .... Please stay away....
unable to withdraw.........
You can see the trading histofry from following pictures. Stay away from this fraud platform!
I've deposited nearly $200.
I mistakenly deposited less than the minimum deposit and never got refunded I hope it gets fixed
Once again, WikiFX received a complaint email from Olymptrade, the content of which was ridiculous and made people wonder whether their IQ worked or not. In the email, they claimed that the financial services they had been providing were legal and didn’t require any form of regulation. It was shocking that a Forex trading platform could claim that they did not need any regulations. Their bold statement was not only irresponsible but also breached the law. Olymptrade has repeatedly stressed that now that investors have chosen to invest on its platform, they should bear the potential risks of forex and know all the legal information. Olymptrade has been exploiting legislation loopholes and carrying out its illegal forex services.
WikiFX has received a massive amount of complaints from victims about OLYPMPTRADE on official Facebook.
It is estimated that the average daily trading volume in Nigeria's forex market may be around 350-450 million naira (US$1-1.2 million), and this figure is still on the rise. The number of Nigerian investors who are interested in forex has been growing steadily over the past decade, and Nigeria may have as many as 300,000 retail forex traders, among which about 25 percent are active traders.
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The data are from WIKI Research
2021.04.12 updated
WikiFX prompts you
Please choose wisely! Please avoid unnecessary loss
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Basic Information & Regulators of Olymp Trade
Olymp Trade has been one of the leading online brokers since 2014. Olymp Trade joined the IFC in 2016. Olymp Trade received the 2017 Best Options Broker Award at Forex Expo and the 2017 CPA Life Best Financial Broker Award. Olymp Trade's official website does not show any regulatory information.
Safety Analysis of Olymp Trade
The essential prerequisite to measure the safety of a forex trading platform radical is whether it is formally regulated. Olymp Trade is currently unregulated, which means that users' trading activities and the safety of their funds cannot be effectively protected. Investors should be careful to avoid Olymp Trade as a forex trading platform.
Market Instruments
Olymp Trade offers traders a wide range of financial instruments, mainly Forex currency pairs, commodities, indices, stocks, cryptocurrencies, exchange-traded funds, and OTC.
Leverage & Accounts of Olymp Trade
To meet the investment needs and trading experience of different investors, Olymp Trade offers two different types of accounts: Standard and Premium. Olymp Trade offers maximum trading leverage of 1:400, 1:30 for the most popular currency pairs, and 1:20 for minor currency pairs.
Spreads & Fees of Olymp Trade
There is no detailed information about spreads on the official Olymp Trade website. By testing a standard demo account, the spread on EURUSD is around 1.1 pips. Olymp Trade charges a fixed rate of overnight fees for overnight trades, up to 15% of the total investment amount. For accounts that have been inactive for 180 days, Olymp Trade charges a monthly fee of $10.
Trading Platform Available of Olymp Trade
Olymp Trade trading platform pages are easy to navigate with a real focus on user experience. Olymp Trade supports web, desktop applications (for Windows and Mac), and smartphones/tablets (for Android/iOS).
Deposit and Withdrawal
Olymp Trade welcomes a variety of deposit and withdrawal methods, mainly bank cards, credit cards, UnionPay, Bitcoin, TEDA, NETELLER, Skrill, Perfect Money, WebMoney
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Given the complexity of forex industry, some brokers are issued legal licenses by cheating regulation institutes. If the data published by WikiFX are not in accordance with the fact, please click "Complaints "and "Correction" to inform us. We will check immediately and release the results.
Foreign exchange, precious metals and over-the-counter (OTC) contracts are leveraged products, which have high risks and may lead to losses of your investment principal. Please invest rationally.
Special Note, the content of the Wikifx site is for information purposes only and should not be construed as investment advice. The Forex broker is chosen by the client. The client understands and takes into account all risks arising with Forex trading is not relevant with WikiFX, the client should bear full responsibility for their consequences.