Olymp Trade Review – Know Whether the Platform is Legit or Scam

OlympTrade is an online trading platform well known for its liability. This popular trading platform was started in 2014 and since then it has been continuously growing and serving better to its customers. Want to know why the OlympTrade platform is most popular among experienced traders and is being a choice for many other beginners. The platform is certified FinaCom which makes them the most trusted platform for any trader.

Over 25,000 people trade per day and the monthly turnover for the broker is around $171 million, OlympTrade is the leading platform for trading with no stopping since it was built. In 2018 Le Fonti awarded the platform as the “Best Options Trading Platform” also marked them as a grade-A level broker with proven track records.

OlympTrade offers a bunch of opportunities by providing more than 70 tradings assets including commodities, currency pairs, indices, cryptocurrencies and stocks. Olymp Trade believes in offering stressless trades opportunities to its traders, it maintains the ease of trading for the new traders by letting them start trading with the smallest deposit of $10 and the minimum trade of $1 this makes the platform stand out from other brokers if you are new to the trading world you can explore ample of opportunities with OlympTrade.

Know-How Safe the OlympTrade Platform Is!

We can not neglect the fact that the OlympTrade platform is regulated by FinCom and the efforts the broker has made to earn the trust of the traders.

While doing our research we know about the fact that their support staff claims they have applied for the CySEC certification, but till now we didn’t find any solid proof about the platform being regulated and none of their known authorities claims about this.

However, this absolutely doesn’t mean that the broker is not safe for trading, regulations and privacy policies of FinaCom are as strict as other regulators

Awards of OlympTrade

Though Olymp Trade is in the trading industry for less than 5 years, it has earned remarkable success and attention from major financial institutions for positive reasons. The broker has won many awards including:

• ShowFX World in 2016 awarded it as The fastest-growing broker
• Le Fonti in 2016 awarded The best trading platform
•  KROUFR awarded The best broker in 2016
• CPA Life awarded as The best financial broker in 2017
• In IAFT Awards, Platform received the Innovative broker award in  2017
•  In Forex Expo, the platform received The best broker award in 2017
•  Le Fonti awarded The best trading platform award in  2018

All these awards make Olymp Trade the top leading broker in the whole world in terms of transparency, performance, trust and overall performance.

Why OlympTrade is best out of other brokers?

One thing that makes the platform more trustable is their membership with FinCom. FinCom is the legal body that monitors trading brokers to maintain its trader’s privacy and security while trading.

If for some reason you raise a complaint with Olymp Trade’s customer support and your query is not resolved with the time period of 14 days, you can directly contact FinCom, they will resolve your problem.

FinCom ensures that the trader’s complaints are always answered and handled professionally.

OlympTrades offers a demo account for beginners with available credit of the virtual amount of $ 10,000. New traders can efficiently learn trading tactics and ideas about the platform, how they can trade with the broker. The credit of the demo account can be replenished if a balance goes below $5000.

You can access Olymp Trade in three ways one you can access it through its web version i.e from its own website. Second, with an OS app for macOS and windows, these apps offer more features than you find on their own website. Third, you can access it with your mobile phones both Android and iOS

If you decide to open a real trading account, you can trade with a minimum of $1, you don’t have to invest a huge amount in one time. This will help you manage your account and investment with ease.

Why you should open an account with Olymp Trade!

The platform offers unique and important features which make it more worthy to be trusted. You can practice trading with the demo account available with the credit of $10,000. Once you have an idea of how the platform works you can start investing your real money.

The platform offers a minimum trade of $10, which is quite less in comparison to other trading brokers. You can make a single trade of even $1 which is not that big amount if you lose your first trade. Plan your move with an affordable amount of trade.

Other Features of the Platform

To make a successful trade It is good to have the right options available in one place. Olymp trades offers almost 20 indicators and about 4 types of charts which are absolutely easy to access within the user interface. If you wish to access more tools you can fetch them from the “technical analysis” button.  One thing which we found interesting is the assistant button that will accompany each indicator. What exactly it does is, trigger a pop-up button that will take you to the training materials for the specific indicators.

Not only a demo account, but Olymp Trade also offers a number of training resources. Traders can access important webinars and instructive courses for learning about financial instruments. These courses and webinars are updated on a daily basis to provide exact information and the latest trading techniques.

You have the option to choose between a regular account or a VIP account. The perks of having a VIP account are that you get your own personal consultant that will help you in your trades and daily market reviews. Moreover, you can withdraw faster with the VIP account.

As a new account holder, you will be offered bonuses for trading. Although, you can reject the bonus.

Olymp Trade offers almost 82% for its, standard account holders whereas 92% for its VIP account holders, which is quite high if you compare with other brokers. Also, VIP holders get access to the training materials, daily insights of trade as well as get a personal consultant. With Olymp Trade, traders get a chance to earn more profit through various contests and special offers that are provided by the platform.

Currently, the platform offers about 77 different assets. It is a great platform if you don’t want to confuse yourself with a vast collection of assets. But if you are an old trader and want to invest in huge assets then n that case this may be devastating for you as it limits the option. It has got a very user-friendly interface it comes with a button at its top which helps you find your desired assets.

Moreover, it is your choice whether you want to choose a single asset or want to choose an entire assets group. Let’s understand with an example, you chose to trade with Bitcoin but you would like to add more options in your trade so you get an option to choose all the cryptocurrencies. This functionality makes it easier to analyze the movements of trade groups which makes it easier for traders.

Only one type of trade is offered by Olymp Trade(call/put digital options). This is quite limited for experienced traders. Moreover, Call/put digital options make it easier for traders to predict how the trade will go.

You have an option to cancel the trade before its expiring period with this you can limit your loss. You can set the Timeframes of charts manually. The range of timeframes can be kept between 15 seconds to 1 month. This makes it easier when you track price movements of assets between the time period.

Drawbacks of OlympTrade

As per our research, the platform has limited assets for trade. There are about 77 trading instruments available on a platform that includes currency pairs, cryptocurrency pairs and indices. 77 asset might seem to be less but for beginners, it’s a great opportunity to learn and explore trading ethics and they can learn to trade easily.

Languages offered:

Olymp Trade is available in English, Indonesia, Russian and Thai among other languages.

Accounts and Deposits:

Olymp Trade offers various payment methods including wire transfer, e-wallet or credit card options for Real or VIP accounts. You can make withdrawals with the same channels. With this platform, you can withdraw the total amount. Moreover, all the withdrawals are free, which means you can keep your earnings safely.

All the withdrawal requests are processed within 24 hours, depending upon the payment methods, for some instances it may take up to 5 business days to process money.

If it delays even more than that you can contact OlympTrade customer support through phone, email or online chat. Besides these methods, you can also contact them through their social media accounts.