Olymp Trade is a universal online trading platform where you can trade currency pairs, commodities, stock indices, company’s shares, and cryptocurrencies. OlympTrade proved itself one of the best Binary Broker among its competitors like IQoption. Here in this article, I am publishing an unbiased Olymp Trade Review that explains all aspects of the Broker.
Olymp Trade Review
At the very beginning, the company focused on customers from CIS countries. Since then, the company’s user base has significantly expanded. Now, the platform is actively used by traders from Southeast Asia (Indonesia, Malaysia, Vietnam, Thailand), Latin America (Argentina, Brazil), India, Pakistan, and Arab countries.
The company has repeatedly won various awards for the high level of quality of service since 2014 when it was founded.
Read: IQ Option Review
Olymp Trade Trading Platforms
The list of advantages is not exhaustive, so we offer you a detailed description of the functionality of the trading platform.
Olymp Trade Platform Versions
Olymp Trade is a product created by a team of experienced developers who are constantly improving the platform. Any interface and service decisions are based on the financial analysts’ recommendations and user preferences.
Now, the trading platform is presented in three versions:
- A browser one, without the need to download additional software: https://olymptrade.com
- A desktop application for Windows and macOS, which is completely identical to the browser version, but has some additional features: https://olymptrade.com/download
- Mobile trading applications for Android and iOS devices:
Features of Olymp Trade Platforms
The Olymp Trade platform is fully localized to the following languages: Russian, English, Thai, Indonesian, Portuguese, Spanish, Turkish, Vietnamese, Chinese, Arabic, Hindi and Malay.
The versatility of the platform is based on the possibility of using various chart settings and well-known systems of analysis as well as editing the list of assets.
A trading assistant is a unique feature of Olymp Trade. This is a special real-time chatbot that explains how different tools work.
User functions of Olymp Trade Platforms
1. Two-color schemes are available – a light one and a black one.
2. Several types of charts – a line chart, a bar chart, Japanese candlesticks, heikin-ashi.
3. Indicators for Technical Analysis – SMA, EMA, WMA, Parabolic SAR, MACD, RSI, Stochastic, DeMarker, Bulls Power, Bears Power, Williams %R, Bollinger Bands, Ichimoku Cloud, Sentiment, Alligator, Aroon, Zig Zag, CCI, Momentum, Rate Of Change, Gator, Awesome Oscillator, Detrended Price Oscillator, Average Directional Index.
4. Graphic Analysis Tools – A trend line, a horizontal line, Fibonacci retracements, Fibonacci fan.
5. Chart Indicator Assistant – When choosing an indicator, a user can quickly become learn the principles of its work by clicking the “Assistant” button. After that, he will see a special pop-up window with the training material and the examples.
6. Chart timeframe – A trader can choose the timeframe he needs manually from the following options: 15 seconds, 1 minute, 5 minutes, 10 minutes, 15 minutes, 30 minutes, 1 hour, 4 hours, 1 day, 7 days, a month. For a line chart, the timeframe may range from 1 minute to 4 months.
7. The list of assets – There are special buttons above the chart to choose the asset you need fast.
8. Asset Selection – Assets can be selected one by one, or a trader can choose the whole sector. This way, cryptocurrency enthusiasts can mark the entire block of digital assets and work with them only.
In total, the platform gives traders access to:
- 36 currency pairs, including both major and cross pairs.
- 10 cryptocurrencies against USD. They are the most popular and dynamic assets by the daily trading volume from the TOP-20 list.
- 2 cryptocurrency pairs. This kind of asset shows the ratio of two digital coins’ value.
- 6 commodities. The global economy depends on the value of these financial instruments.
- 10 stock indices. The indices indicate the financial market’s condition, as they show the weighted average value of a certain number of the companies’ shares.
- 13 shares of the largest companies worldwide, including the securities of such famous companies as Apple, Tesla, Facebook, etc.
Each kind of asset has its own trading characteristics and advantages. For example, understanding of political processes goes well with trading currency pairs. Understanding the companies’ financial reports as well as the interest in their work will help trade securities.
Olymp Trade Brokerage Charges and Fee
Olymp Trade Brokerage Charges vary from 0.8% to 15% of the total investment amount. However, Olymp Trade does not charge any account maintenance fee for an active account in the last 180 days.
Olymp Trade Brokerage Charges and Fees in India
The OlympTrade does not charge any additional fees for Indian Trader. The Olymp Trade Brokerage charges and fee in India is the same as other countries and varies from 0.8 to 15% of the total investment amount.
If you are from India then you much read about Binary Trading in India.
The Advantages of Olymp Trade
There are several major benefits that make the OlympTrade platform so popular among its competitors like IQ Option.
1. Safety and Reliability
Olymp Trade is a category A member of the Financial Commission (FinaCom). FinaCom is an independent international organization that provides and guarantees the protection of traders’ rights. In case there is an unfair practice by Olymp Trade, the Commission protects the trader by its Compensation Fund for up to €20,000 per case.
The quality of trade execution on the OlympTrade platform is certified by an independent system Verify My Trade. An audit of 5,000 customers’ trades found that 64% of the trades had been made at the best prices. It should be noted that the official report of Olymp Trade recorded the fact that no trades were rated as “acceptable” and “below average.”
An independent study of Verify My Trade shows the quality of the execution a broker is providing. This helps traders economize on fees, as well as improve their final trading results.
Olymp Trade is a vivid example of the company’s fulfillment of obligations to customers.
2. Democratic financial conditions
- The minimum deposit to start trading is only $ 10 / € 10 / $ 350 / $ 20R$.
- A minimum order size for any asset is $ 1 / € 1 / 30₽ / 2R$.
- The minimum withdrawal amount is $ 10 / € 10 / $ 350 / $ 20R
At the same time, Olymp Trade does not charge extra fees for transferring funds to the client.
3. Training account
After registration, each user can start trading on a demo account with a balance of 10,000 demo units. This simulator precisely simulates trade execution and helps the client prepare for trading with real money.
If the account balance is less than 5000 units, it can be restored to the initial 10 thousand an unlimited number of times.
4. Learning for free
The team of professionals has been creating comprehensible and interesting learning content for 4 years. Almost every day Olymp Trade analysts hold theoretical and practical webinars on how trading strategies and methods of technical and fundamental analysis work.
Extra trading benefits on Olymp Trade
1. Trade orders
To make a trade, a trader can use trade orders. This service is an analogue of pending orders in the forex trading.
The user selects the type of order “at the strike price” or “at the fixed time” and selects the necessary conditions. The trade will open automatically if the preconditions specified by the trader are met.
When the price limit order is placed, the trade opens only when the chart reaches the specified price if other conditions are also met (the yield on the asset, the availability of the required amount on the trading account).
When the time limit order is placed, the trade opens at the selected time if other conditions are also met (the yield on the asset, the availability of the required amount on the trading account).
2. VIP status
A trader can get a VIP status when he deposits a lump sum of $ 2000 / € 2000 / ₽100000 / R$ 5000 or more into his trading account.
A VIP status gives a trader the following privileges:
- An increased return on the assets: the return is 10% higher than that of standard traders.
- An increased maximum trade amount: $ 5000 / € 5000 / ₽4000000 / 35000R$.
- A personal VIP consultant who provides support to the trader and teaches him online trading strategies.
- VIP traders join the “Boost your trading volume” program, which allows them to receive risk-free trades monthly for the high trading volume.
- Teaching secret trading strategies.
- The opportunity to participate in private theoretical and practical webinars.
- Daily market reviews.
- A standard account and a VIP account compared
|Minimum trade amount||$1 / €1 / 30₽ / 2R$||$1 / €1 / 30₽ / 2R$|
|Minimum deposit||$10 / €10 / 350₽ / 20R$||$10 / €10 / 35₽ / 20R$|
|Maximum trade amount||$5000 / €5000 / ₽400000 / 35000R$||$2000 / €2000 / ₽150000 / 20000 R$|
|Maximum total amount of open positions on different assets||₽4000000 / $50000$ / €50000 / R$200000||₽1500000 / $20000 / €20000 / R$50000|
|Maximum total amount of open positions on the same asset||₽750000 / $10000$/€10000/ R$35000||₽1500000 / $20000 / €20000 / R$50000|
|Maximum withdrawal time period||1 working day||up to 5 working days|
|Withdrawal fee||no fee is charged||no fee is charged|
|Risk-free trades for trading volume||+||–|
Deposit and Withdrawal of funds from Olymp Trade
The main banking methods of Olymp Trade depositing and withdrawing funds are Visa and Mastercard. To deposit funds, a bank card must have your details and permission to pay for purchases on the Internet.
Electronic payment systems are the most popular methods of carrying out financial transactions on Olymp Trade. Users can use ePayments, Qiwi, Yandex. Money, WebMoney, Neteller, Skrill, Fasapay, Bitcoin.
Olymp Trade Awards
The following awards have been won by the broker Olymp Trade:
Awards in 2016
- “The fastest-growing broker” ShowFx World 2016
- “The best broker” KROUFR Awards
- “The best platform for trading” Le Fonti 2016
Awards in 2017
- “The best financial broker” CPA Life Awards 2017
- “The best broker” Forex Expo 2017
- “Innovative broker” IAFT Awards 2017
Awards in 2018
- “The best trading platform” Le Fonti 2018
Olymp Trade Support & Contact
Olymp Trade technical support team works 24/7, so you can get help from the experts at any time:
Hotline numbers of Olymp Trade:
- +357 (2) 5030996 – Nicosia, Cyprus
- +234 (1) 2279021 – Lagos, Nigeria
- +66 (2) 026-03-56 – Bangkok, Thailand
- +27 (21) 1003880 – Cape Town, South Africa
Olymp Trade Support E-mail: [email protected]
Bottom Line – OlympTrade Review
More than 20 million users from around the world have chosen the Olymp Trade platform. They receive the best support, comfortable and transparent financial conditions, a user-friendly interface, and all the necessary market analysis tools.
The platform reliability is time-tested and confirmed by the international regulator. Olymp Trade maybe your stable partner in the world of trading!