Olymp Trade Review
- REGULATION: IFC
- DEMO: Free
- MIN. DEPOSIT: 10$
- ASSETS: 100+
- YIELD: 92%+
- PRODUCTS: Options and Forex
One of the most attractive paths is online trading. Today, many platforms provide access to a variety of assets and allow you to conclude transactions from $1. The value of an asset changes every minute. Thanks to the difference in exchange rates and leverage, a trader can make a good deal and get a good profit. But it is important to choose a quality broker that will offer users the best conditions and guarantee a high level of security. Thanks to this Olymp trade review, you can find out a lot of useful information about the site and make the right choice.
Types of binary options at Olymp Trade
Binary options trading can bring in a lot of money. You just need to choose the right asset, develop an effective strategy, and implement it. Today, there are many different types of binary options that are available to traders. For example, the Olymp Trade platform offers several of the most popular options.
- Call/Put. The standard and most common type of binary options. Its principle is simple – a trader must choose an asset, analyze the situation, and decide how the price will change soon. If it grows, the “Call” option is selected, if it falls – “Put”. The correct forecast brings good profit (up to 200% depending on the selected asset).
- Touch/no-Touch. In this case, the broker determines a certain border of the asset value (above or below the current price). The main task of a trader is to predict whether the value will reach a specified value (Touch) or not (no-Touch). If the “Touch” option is selected and the condition is met, the trader can make a profit without waiting for the expiration time to expire.
- Digital-options. The choice of professional users. This type has a long expiration period (from a week to a month). This approach allows you to thoroughly analyze the market, pay attention to all important factors and indicators, and make an accurate forecast. However, increased security and predictability translates into lower profit margins.
- Turbo-options. The other side that attracts risky clients. In this case, the expiration time is extremely short (from one to five minutes). This does not allow making an accurate prediction, so trading here is like playing roulette. But many users choose this option due to the high percentage of return on success.
- Spread. Another option that requires careful analysis and a high level of professionalism. Because here it is necessary to determine not only the direction of price movement but also the exact value of the asset after a certain period. However, this method is attractive due to the large percentage of profit.
Main information about Olymptrade company
Olymp Trade (some also call it Olympic Trade) started operations in 2014. The brand is owned by Inlustris Ltd., registered in the offshore zone of Saint Vincent and the Grenadines. Payment transactions are secured by Frandom Holding Limited through the banks of Cyprus.
During this period of its existence, it has already managed to interest many users and become one of the leaders in the segment. This success was made possible thanks to a responsible attitude towards clients, providing a wide range of trading tools, and ensuring a high level of security. In this overview, you will learn useful information about the main features and benefits of the company.
Legality and licensees
This is one of the most important aspects when choosing a broker. Many potential users on their Olymp trade reviews want to know if they can make money safely and legally. The answer is “Yes”, the company is a member of the International Financial Commission (FinaCom PLC LTD), which guarantees the trader independent arbitration and reimbursement of disputed transactions up to €20,000, as well as “purity of transactions”.
FinaCom commissioners supervise the quality of execution of transactions by issuing a “Verify My Trade” certificate. The broker successfully passed this verification in September 2018, as evidenced by the mark on the site.
If we compare OlympTrade with other platforms, then it should be said that the site is among the members of the FinaCom financial commission of class A. This entitles clients to claim the maximum amount of compensation for losses. The insurance fund is formed from a tenth of the membership fees of the companies that make up the regulator. Depending on demand, the amount of compensation may vary.
Registration on the Olymp trade platform
Any user who has reached the age of majority can become a client of the company. The site is open around the clock and available to all customers. The pleasant color scheme does not tire the eyes, which allows you to maintain concentration for a long time.
Moreover, the page has ten language versions, so the entry threshold will be low and usability high. And thanks to the excellent functionality, you can quickly go through the registration procedure. Just a few simple steps are enough.
- Visit the official website of the company and click on the “Register” button;
- Now you will need to enter your data. The company needs to know your username, password to enter your account, an email address;
- Agree with the site rules (we recommend reading useful documents that will help you get more information);
- Check your e-mail – there is a new letter here. Now you need to follow the welcome link to complete the verification procedure.
Types of accounts on the Olimp Trade website
A quality broker creates the most comfortable conditions for its clients. For example, the page has a special information section where you can read a lot of useful articles. It contains an analysis of popular strategies, advice from professional traders, etc. Such useful knowledge can reduce the number of mistakes and make trading more efficient.
But most importantly, Olymp Trade offers several types of accounts. Each one has excellent conditions and benefits.
- Demo account. After completing registration, each user can start trading on a demo account, the balance of which is 10,000 virtual dollars. This account accurately simulates the execution of trades and helps the client prepare for real money trading. If the demo account balance is less than 5000 units, it can be restored to the initial 10 thousand for free an unlimited number of times.
Standard. To activate it, you need to deposit the amount of a minimum deposit of $10/€10/350₽/20R$. The user chooses the currency for work. The minimum amount for one option is at $1/€1/30₽/2R$, and the maximum is $2,000. Withdrawal limits are $10/€10/350₽/20R$. The withdrawal process can take up to 5 business days, and it will also require a verification procedure
- VIP. To open an account with this status, you need to replenish your account for $2000/€2000/₽100000/R$5000 or more. The minimum trade limit remains the same. Only the maximum has been increased – now it is $5000/€5000/₽400000/35000R$. Withdrawals are similar. Only the cost in a daily equivalent for the performance of this service is lowered to 1 working day.
The owner of the premium account gets additional benefits.
- Enhanced return on assets: 10% higher return than regular traders.
- Personal VIP-consultant who provides support to the trader and teaches trading strategies online.
- Connection to the program “Accelerate the turnover”, which allows you to receive monthly risk-free transactions for high trade turnover.
- Opportunity to participate in closed theoretical and practical webinars.
- Daily analytical market reviews.
Types of accounts on the Olimp Trade website
Each client of the platform can earn on the asset that is convenient and understandable for him.
The platform offers over 65 options, including:
- 6 commodities – precious metals, natural gas, oil, and copper.
- 35 currency pairs – classic: GBP/USD and EUR/USD, ruble: USD/RUB and EUR/RUB, rare: GBP/JPY and CAD/CHF.
- 13 variants of securities – shares of European and American companies: Google, Apple, Tesla.
- 10 indices – Hang Seng, FTSE100, and NASDAQ exchange-traded funds.
Moreover, trading on the site is convenient not only due to a wide range of tools. The platform allows you to add to the chart those signals or indicators that the user needs. This allows you to determine the best time to enter a trade, as well as close it with the maximum profit. But the main thing is that there are additional trading advantages that need to be discussed in the Olymp Trade survey.
Selling an option. If more than 1/6 of the specified time remains until the end of the deal, the user can use the “option sale” function and return part of the invested funds – or even earn up to 46% of the profit.
Orders for transactions. To conclude a deal, a trader can use orders for a deal. This service is analogous to a pending order in Forex.
The user selects the type of order “by the time” or “by price” and sets the necessary conditions. A deal will open automatically if the characteristics specified in the order appear on the market. In order at the price of an asset, the key activation condition is that the schedule reaches the price specified in the order, subject to other conditions (asset profitability, availability of the required amount on the trading account). In a timed order, a deal is opened at a specified time, also if other conditions are met (the profitability of an asset, the presence of the required amount on the trading account).
Tournaments and contests for traders
Olymp Trade clients have access to a variety of special offers, in which everyone can take part. For example, gambling tournaments, where you can earn great money with minimal investment. To become a participant in the competition, you need to go to your account and select “Tournaments” in the main menu panel. After that, an additional tab will be opened, where information about past and upcoming events is presented.
Immediately after the start of the tournament, the user receives virtual money on the account. They are used to make real deals. The main goal is to get the highest profit within a certain period and win a competition from other traders. The most successful participants receive valuable prizes.
Some competitions are not suitable for all traders and are only for VIP account holders. Also, for the clients of the Olymp Trade platform, various contests are available even to owners of a demo account.
Bonuses and unique benefits
It is worth mentioning the additional features of Olymp Trade. Each client can get more by using a special promo code. This code is published on social networks and gives access to unique tournaments with increased profitability. Besides, there are additional bonuses:
50% in addition to the account replenishment amount. This offer is relevant for all traders who deposit $4,000 or more.
100% to the amount of the deposit. The option is available to new customers who have recently passed the registration procedure. This bonus is credited automatically on the first deposit.
Another advantage of the company that makes trading pleasant and convenient is the Olymp Trade app. The program has several versions that allow you to trade from a mobile phone or tablet (iOS and Android).
The functionality of the application is very broad, and optimization allows you to trade with maximum efficiency even with a bad signal. Thanks to the program, you can earn money wherever there is an Internet connection.
Disadvantages of the platform
Of course, in the Olymptrade review, it is necessary to talk about the platform’s shortcomings. For example, the company bans all robotic trading. Therefore, in this matter, you need to be as careful as possible. Try not to send too frequent requests – this will be suspicious.
There are other features of the site – this is the absence of binary assets with a long-term holding interval. Long-term digital-options with a long timeframe are not available, which does not suit some users. Besides, the company is not certified by the European regulator CySec. However, the regulation of relations with traders is due to other reliable companies.
Account replenishment and profit withdrawal
To start working on the platform, a trader will need to make the first deposit. The minimum limit is $10 and the minimum trade size is $1. At the first deposit of the account, the trader has access to the Welcome Bonus x2, which will double the amount of the deposit.
The operation to withdraw money from the account requires a phased implementation. To do this, you need to go to your account and make an application for transferring funds from a brokerage account to bank details or an electronic wallet. After that, the appeal goes to the administrator for consideration. Most often, applications are accepted on a first-come, first-served basis, and the client receives confirmation within 3 working days.
The main methods of depositing and withdrawing funds from the Olymp Trade account are:
- electronic wallets: WebMoney, Yandex.Money, Qiwi;
- bank cards: Visa/MasterCard;
- payment systems: Skrill, Neteller.
Summing up, we can say that OlympTrade is one of the licensed brokerage organizations that is ideal for both beginners and professionals. To work on the platform, you will need a small initial deposit and a minimum investment to conclude the first deal, which can significantly reduce the level of risks.
Moreover, the company offers a demo account for traders, from which they can start training before switching to real money. With the help of the demo version, the user has the opportunity to master the basic principles of options trading, as well as to choose the most effective investment strategy for himself. Another reason to work with OlympTrade is the availability of the terminal and ease of registration. You don’t need to have special skills to create your account on the official web portal.