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The Olymp Trade
online trading platform -
main pros and cons.

14 February 2021 by Otto Green
Min. deposit: $10
Maximum leverage: 500
Products: Currency pairs, Cryptocurrencies, Stocks, Indices, Commodities
Demo account: Free
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.

Content on this page is intended for information and educational purposes only and should not be considered investment advice or investment recommendation.

A short intro

Olymp Trade has been operating its services on the financial market since 2014. But despite its young age, the company managed to make a good brand name in the industry. With this broker, you can trade currencies, digital assets, ETFs, and other tools. The company has chosen the right strategy of development, allowing clients from all over the word access online trading with only $10 investment. It enabled the platform to activate over 25 million trading accounts within only several years. For today, the Olymp Trade terminal manages to handle around 30 million deals a month with $8 million being paid to customer deposits. And its monthly turnover is more than $150 million. In 2016, Olymp Trade platform became a member of category A of the Financial Commission.

The success of the broker is supported by several prestigious awards:

  • 2017 Best Broker at Forex Expo;
  • 2018 Best Trading Terminal at The Forex Awards.

The broker invites traders from all locations in the world to join its community. To simplify the communication process, the official site is translated into 19 languages and available in 134 countries. We have prepared this Olymp trade survey to make it easier to understand how brokerage companies work and what benefits you may enjoy trading with Olymp Trade.
Olymp Trade mobile app
Olymp Trade mobile app
Olymp Trade on different devices

Facts and figures

Olymp Trade in figures

Trading instruments

  • Currency pairs - 50+ options are available;
  • Cryptocurrencies - you can now trade Bitcoin, Ethereum, Litecoin, Bitcoin Cash, Bitcoin Gold, Ripple, Monero, Dash, Zcash, Ethereum Classic;
  • Stocks - 20 + variants of the largest companies' shares;
  • Indices - 10 stock indices are available for trading;
  • Commodities - 6 commodity assets are offered.

This list is constantly increasing as the broker works hard to expand the selection of trading options.
Olymp Trade assets
Olymp Trade assets

Account types

Once you join the platform, the choice is easy – you can select either a demo or a real-money account.
Demo account
Standard account
This free account becomes available right after the registration on the site. It is an excellent possibility for a beginner or just a new platform user to check all the details of the trading terminal. You will be given a virtual account with $10,000. And you can use this money to simulate real trades. It is the best method for a new market participant to see how everything works. The broker has no restrictions for the training account – you can use it as long as you need and refund your deposit every time.
This trading account is not accessible for free. You need to replenish your deposit for at least $10. But in return, you will get access to real trading. The deals are available for $ 1 only. The maximum deal amount is $ 2,000. The main attraction of this account is that you can receive a lot of additional incentives, depending on the sum you invest. Based on it, the broker offers three statuses – Starter, Advanced and Expert.
Have a look at the below table to see the benefits each of them offers:
Account types

A demo account

It is vital to receive some trading experience before you are ready to invest real money. This approach will allow you to enhance your trading skills without a risk to your deposit. The Olymp Trade demonstration account is a convenient tool that can be used by any user who is registered on the platform. Olymp Trade is one of those brokers who are ready to provide their clients with a demo account for as long as they need to make decisions confidently and with ease. Once you activate a training account, you get virtual $1000 for trading. The main advantage of a demo account is that it is completely identical to a real terminal interface - from the list of trading instruments to a variety of additional features. You can replenish your demo account an unlimited number of times. For beginners, it is a must-have tool. Thanks to it, they will quickly learn to trade without financial losses. And only when the basic nuances of trading are successfully mastered, you can proceed to work with a real account. The only inconvenience is that it is not possible to use Olimp Trade demo account without registration.

Platform

The broker's trading terminal is accessible from the personal account. Its design is reasonably similar to the terminals of most companies, but at the same time its functionality leaves behind many of them. The professional team created flawless software with multiple tools to make the trading process easy and profitable.

The program is available for PC, through a browser, and for gadgets via an application. The first option is more convenient due to a simple interface and a large screen on which all the necessary information is displayed. The second one provides access to trading from anywhere, the main thing is to have access to the Internet.

The Olymp Trade terminal uses quotes from the largest investment banks, which allows you to make correct decisions. You can conclude fixed time trades of two types: by duration (from 1 minute to several hours) and by expiration time (from 1 minute).
Olymp Trade mobile
Olymp Trade mobile
Demonstration of the trading app Interface

A Mobile App

Most traders work from the computer. However, more and more brokers provide the opportunity to trade binary options from a smartphone or tablet. And Olymp Trade created a mobile app for both Android and iOS. The application is well designed. After the authorization, you can immediately start trading. The program interface is convenient and easy to navigate. Therefore, you do not have to spend a lot of time trying to find the right button.

The Olymp Trade app uses the minimum amount of smartphone resources. It works without failures and errors in all modes. But it is necessary to have constant access to the Internet for its normal operation.
Olymp Trade mobile
Olymp Trade mobile
Olymp Trade Mobile App

Payments and Commissions

The broker supports several payment methods:

  • Banking cards
  • E-payment systems
  • Crypto wallets.
There is one important detail if you want to top up your deposit in digital money. Even if the initial deposit is only $ 10, but for crypto payment your account must be replenished by $ 40. You can apply for withdrawal any amount over $ 10. There are no transaction fees on the site regardless of the transfer method. But you may need to pay the fees of the bank or wallet service, so check it additionally.

It is important to know that the site deducts the commission if the account is idle for some time. The subscription fee is charged only if the client has not made trading operations on a real account within 180 days or has not performed non-trading operations - did not withdraw funds and / or did not replenish the trading account. This fee is $10 per month.
Olymp Trade payment methods
Olymp Trade payment methods
Payment methods of the Olymp Trade platform

Customer support

Sooner or later each trader faces a technical problem on the site that cannot be resolved with professional help. And Olymptrade does its best to provide its clients with several communication channels to speed up resolution of all issues. You can contact the support team in one of the following ways:
As you see the company supports traders in all possible ways. And according to Olymp Trade reviews, all interaction channels work excellently.

Educational and analytical resources

Every successful broker must have excellent knowledge of online trading principles. It is best to learn from experienced players on financial exchanges who know exactly how everything functions and who are familiar with financial setup from the inside. And the Olympic Trade broker can become an excellent mentor.

After sign up, a trader gets access to his account and a special section devoted to training - Academy. The broker added this option only recently, but it immediately gained great popularity. These are free online courses that are followed by a test at the end. The course is sufficient to understand the methods of market analysis by key indicators. Besides, the course explains everything about the concept of money management and how to apply it in practice. After the course, a trader can continue his study of Forex market:

  • get acquainted with all the nuances of market analysis;
  • get detailed training materials on existing strategies with methods of their application;
  • view video materials with real transactions being made;
  • study articles and other blog content that will be useful in future work.

With regard to analytical resources, the traders can use a live chart and add the preferred indicators to it to make it easier to conduct a technical analysis. Besides, all users of the platform have access to:

  • Economic calendar
  • Trade signals
  • Technical analysis
  • Smart Trade service.

These services do help a lot in the trading process, making it easier to predict the asset price movement.
Lesson on how to start trading at Olymp Trade

Bonuses

There are several ways to get financial incentives from the broker:

  • You can get a promo code from a company that allows you to get a nice plus to your deposit. Such promotions are regularly held. Promo codes are published on the Olymp Trade platform, you only need to follow the news from the company on its official site.
  • You can receive a financial reward for your active trading on the terminal.
  • The broker often shares promo codes in its communities and official social network groups.
  • You can also receive an attractive bonus for depositing money to your account. The more you deposit, the higher your bonus will be.

Olymp Trade Bonuses are actually virtual money that can be used for trading. Unfortunately, these funds cannot be withdrawn from the platform. But it is an extra help from the broker to increase your deposit and chances to earn more. Once you manage to get a profit trading with bonuses, you can withdraw these earnings.

Earn with Olymp Trade

To become a partner of Olymp Trade, you can join its affiliate program. All you need to do is to engage more clients to the resource by sharing a referral link leading to the broker's official website. Each new user, after clicking on it and registering, starts working. For his every transaction, the partner will receive a minimum percentage, which will create his profit. The broker is a generous partner and allows you to earn up to 50-60% of interest.
Olymp Trade affiliate program
Olymp Trade affiliate program
Affiliate Program

Advantages and disadvantages

  • Insufficient regulation
  • Monthly fee for inactive accounts
DISADVANTAGES
ADVANTAGES
  • Starting deposit is only $10
  • A trade starts from $1
  • You can achieve 80%-95% of profit on the platform
  • A refundable training account
  • Academy resource with educational materials
  • Attractive bonus system
  • Constantly growing asset selection
Please note that CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. At average of 83% of retail investor accounts lose money when trading CFDs. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
The main purpose of this Olymp Trade review was to show to potential clients all the strong sides of this trading platform. The broker has created a really favorable environment for all trades, regardless of their professional level. We analyzed a lot of Forex brokers to compare Olymp Trade to other companies providing similar services. Thousands of users prove this Olymptrade review fully matches the reality. Even if you are making the first steps on the financial market, this platform can become a good starting point in your career. The main and most important benefit is that you will find enough resources for Forex education and access them absolutely for free.
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