OLYMP TRADE REVIEW 2020

$10
Min. Deposit
50%
Bonus
Regulated byIFC
Leverage1:500
Customer Support24/5
Open Account

Olymp Trade Summary

Olymp Trade is a well-known online trading platform, which was established in 2014.It offers many different assets, including binary options, which are a rare trading asset in forex brokers. Olymp Trade also has it own mobile application with more than 50M installations.

Olymp Trade is part of an international organization, the Financial Commission, which regulates that any illegal acts are reimbursed up to $20,000 of real money that is sourced from the Compensation Fund.

A strong advantage is the minimum amount that is required to start trading and opening a live account. In order to start trading with Olymp Trade, the minimum amount is ten dollars, so anyone can join the financial technology company and start trading.

Technical support is available 24/7 with a multi-lingual team of specialists, available by email, phone and chat, which are always ready to respond quickly and efficiently.

Clients of Olymp Trade can also have easy access to educational resources and training materials. Any members of Olymp Trade have the option to utilize any of those materials and resources at any time. Olymp Trade is available for traders from all countries except: Australia, Canada, USA, Japan, UK, EU (all countries), and Israel.

This Olymp Trade review is an in-depth analysis of everything there is to know about this trading services provider and what it has to offer

Olymp Trade Main Features
Established in:
2006
Headquarters:
St. Vincent and the Grenadines
Regulations:
IFC
Country of regulation:
St. Vincent and the Grenadines
Minimum Deposit:
$10
Platforms:
Olymp Trade WebTrader
Demo Account Available:
Yes
Leverage:
1:500 on FX Trading
Withdrawal fee amount:
0$
Inactivity Fee:
No

Pros

  • No deposit or withdrawal fee
  • Free Demo Account available
  • Member of the Financial Commission
  • Customer service available 24/7

Cons

  • Only one trading platform available
  • Not available for trading in all countries (EU, UK, and USA included)
  • Long withdrawal process

Safety and Regulation

Although Olymp Trade does not hold a strong financial services license, it is a certified and validated brokerage firm that is part of the International Financial Commission. The Financial Commission is an international finance organization that allows a 20,000EUR guarantee for traders, full access to their resources, and legal assistance if needed.

In other words traders can enjoy many rare forex trading perks with a safety line.

Pros

  • Regulated by the Financial Commission
  • Provides 20,000EUR for compensation
  • Legal assistance is available
  • Investor protection available

Cons

  • Not regulated by any financial regulator
Olymp Trade is a certified brokerage firm by one of the best and strictest financial organization in the world, the Financial Commission.

The Financial Commission is a financial organization that acts as a mediator and regulator, in the case of any issue with a trader. Any member with the IFC must provide an annual report and act with full transparency towards the IFC and their traders.

In order to keep their traders safe, Olymp Trade focuses on the financial compensation 0f 20,000EUR if any misconduct occurred to the trader. The trading service provider also provides annual report to the IFC on their yearly trades, as well as allows traders full legal assistance from the IFC, if any issue may arise.

Olymp Trade Fees

Olymp Trade have relatively low trading fees, which is uncommon for Forex brokers. Most FX brokers make their profit from their non-trading fees, which is why it is best to consider whether the cost is worth the service.
Deposit and withdrawal Fees 
Deposit Fee0USD
Withdrawal fee0USD
Minimum withdrawal Limit10USD
Minimum Deposit10USD
 OlympXMEtoroFP markets
Account FeeNoNoNoNo
Inactivity feeYesYesNoNo
Deposit fee0$0$0$0$
Withdrawal fee0$0$25$10AUD

Pros

  • No withdrawal fees
  • No deposit fees
  • Minimum withdrawal and deposit amount is very little
  • Large payout amounts for both types of accounts

Cons

  • Overnight fees required

Account Opening

Olymp Trade VIP Account

The account is available for clients who are advanced in trading, and is preferred by very expert traders. In order for an account to be live and utilized, traders must deposit two thousand dollars($2000), or its currency equivalent.

The clients who acquired the VIP Accounts benefit from faster withdrawals, and they get the assistance of a VIP consultant, financial analysts, and various trading instruments.

Pros

  • Faster withdrawals
  • VIP Consultant
  • Suitable for elite traders
  • Accommodating for large investment traders
  • Free Demo Account available

Cons

  • High minimum deposit amount
  • Not suitable for novice traders

Olymp Trade Standard Account

The trading account that is used by most traders is the Standard Account, and is available for any prospective client that wants to casually trade or test a free Demo Account.

The account has a minimum amount to trade with, which is one dollar, and a maximum amount to trade with, which is two thousand dollars. The Standard Account allows the maximum possible profit of eighty percent when there is a successful trade. With the Standard Account, there is a minimum withdrawal fund of ten dollars, with no limit for any withdrawal.

Withdrawals can take up to 24 hours, with a maximum waiting time of three days.

Pros

  • Free Demo Account available
  • Low trading fees
  • Low minimum deposit account
  • Maximum possible profit of 80% for each successful trade
  • Low minimum withdrawal amount

Cons

  • Long withdrawal process

How to Open an Olymp Trade Account

STEP ONE: Fill in your name, email address, password, and your preferred base currency.
Olymp Trade STEP 1

STEP ONE: Fill in your name, email address, password, and your preferred base currency.

STEP TWO: You will be activated as a Demo Account holder for 60 minutes, where you will have to deposit funds to your trading account to go live.
Olymp Trade STEP 2

STEP TWO: You will be activated as a Demo Account holder for 60 minutes, where

STEP THREE: You can start trading now!
Olymp Trade STEP 3

STEP THREE: You can start trading now!

Deposit and Withdrawal

Olymp Trade offers their traders with various options on deposits and withdrawals. With deposits, traders can fund their accounts through different payment methods; these methods include the use of Visa and MasterCard, electronic payments, and Boleto. Boleto is an option available for all clients based in Brazil.

Clients who prefer using e-wallets can apply through Web Money, Neteller, Skrill, Bitcoin, Qiwi, and Yandex Money. Withdrawals have the exact same options for payment, as well.

Pros

  • No deposit fee
  • Low minimum deposit amount
  • Fast deposit process
  • Various options for deposits

Cons

  • None

Olymp Trade Deposit Options

  • Bank Wire Transfer
  • Credit And Debit Cards
  • Electronic Wallets

Withdrawals

With Olymp Trade, there is an option that traders can make a withdrawal, after completing the deposit. The maximum waiting time for a withdrawal request can take up to three days, but Olymp Trade attempts to finish the transaction as fast as possible. Any trader with the Standard Account, the average waiting time is twenty four hours. However, as a VIP Account holder, the average waiting time is only a few hours.

There are no withdrawal fees and the minimum withdrawal amount is ten dollars. Along with that, all transaction fees are on Olymp Trade and they do not charge commissions to traders.

Pros

  • No withdrawal fee
  • Fast withdrawal process
  • Low minimum withdrawal amount

Cons

  • None

Olymp Trade Withdrawal Options

  • Bank Wire Transfer
  • Credit And Debit Cards
  • Electronic Wallets

Trading Platforms

The current trade platform for Olymp Trade is an in-house trading-platform that is established and developed by Olymp Trade’s software developers. The trading platform operates on both Android and iOS software, as a mobile application. This means that all clients of Olymp Trade can trade anytime, anywhere.

According to client reviews and feedback, the trading platform is user-friendly and it has a sense of direction when it comes to the client’s trading strategies. Olymp Trade and its mobile application is considered to be one of the best binary applications that are available in the financial market.

The trading platform for Olymp Trade is self-sufficient and very easy to comprehend; it contains technical indicators and analysis instruments that facilitate traders find the best trading strategy. The in-house Olymp Trade trading platform also provides a history section at the bottom of the page, allowing traders to stay updated on a specific asset and track its progress. On the left side of the page, there is a trading chart and on the right side of the page is an icon where the trader is allowed to define the duration of the trade, the amount for trading, and to place a Put or Call option.

You will also find that there is a MetaTrader4 trading platform available for you. MT4 is one of the most common and most effective trading platforms in the world, and most traders are familiar with it.

Web Trading Platform

There are two types of trading orders with Olymp Trade, price orders and time orders. With price orders, you can place an order, depending on the price you have limited to. As for the time orders, you can place an order at a specific time, which will be automatically executed at the time requested.

You may not be able to activate alerts and notifications for your Olymp Trade trading platform account, but you will be able to view all of your past and pending orders. You will also have the option to look through your past traders, along with a detailed report of those trades. This will help you keep track of your trades, and what your next could be.

With Olymp Trade platform, the interface is very simple and easy to use. You will not find any issue with finding the indicators, tools, and financial markets. The web trading platform is a multi-chart platform, which means that you can operate several charts at once.

Desktop Trading Platform

The desktop trading platform is similar to the Olymp Trade web trading platform, but the desktop trading platform must be downloaded as an add-on to your device, Windows or Mac.

Pros

  • Available on Windows and MT4
  • Multi-functional charting tools
  • Easy access and user friendly
  • Customizable
  • 200+ financial markets available

Cons

  • No alerts and notifications

Mobile Trading Platform

There are two types of trading orders with Olymp Trade mobile application, price orders and time orders. With price orders, you can place an order, depending on the price you have limited to. As for the time orders, you can place an order at a specific time, which will be automatically executed at the time requested.

With Olymp Trade mobile application, you are able to use your fingerprint as a form of logging in to your trading account. The fingerprint recognition feature is very rare to find, since it requires advanced technology. Despite not having a two-step login process, the fingerprint recognition is a better alternative.

With the mobile application platform, you are able to activate alerts and notifications through your mobile settings. You will see it in the form of  a push notification found in your device’s settings.

Overall, the Olymp Trade mobile application is very user friendly and it allows traders- on-the-go to never miss an essential opportunity to trade. The mobile application is available for traders with software, iOS and Android. With the Android, you can enable the fingerprint recognition feature, as another form of logging in.

Pros

  • Trading 24/7
  • User friendly
  • Fingerprint recognition for login available
  • 200+ financial markets available
  • Multi-charts feature available

Cons

  • No two-step login process

Markets and Financial Instruments

Olymp Trade offers clients the chance to Trade in Stocks, Commodities, ETFs, Currencies, Cryptocurrency. Nonetheless, instrument availability will fluctuate depending upon where the trader resides.

Leverages with Olymp are variable and rely upon the types of trade the client is considering.

36 Currency Pairs9 Cryptocurrencies
6 Commodities13 Stocks
10 Indices5 ETFs
Binary Option

Market Research and Trading Tools

Olymp Trade has an expanding range of educational materials and resources, allowing educating traders on everything they need to make good trading decisions and find the best trading strategies. These educational resources are: webinars, video tutorials, trend indicators, blog posts, and a social media platform presence.

Olymp Trade is considered one of the trendiest and most popular trading providers that utilize social media to their benefit. Social media platforms like Facebook and YouTube are used to disseminate educational resources to their traders. Any client who is interested in being educated in the trading industry has access to do so through a live stream via Facebook, or join the webinars available on YouTube.

The video tutorials available for traders consist of guidelines and how-to videos that articulate over any confusion traders might have over the website.

Pros

  • Uses social media as an educational tool
  • Easy access for traders
  • Visual aid on using the platform
  • Free educational resources
  • Daily and weekly reviews available on blog
  • Interactive courses

Cons

  • No news feed with live updates
There are also trading tools that traders will find very helpful during their trading sessions. The most common trading tool is the economic calendar, which set up alerts of the most important trading events that are taking place at a specific time and date. The trading signals also allows you to move in a certain direction, through analytics and in-depth data, so you can profit from your trading as efficiently as possible and not face major financial loss.

Olymp Trade Trading Tools

There are many trading tools provided by Olymp Trade, which are easily accessed for all traders. The trading tools include fundamental analysis, cryptocurrency support, and other tools that can be found on their in-house trading platform.

Olymp Trading Tools
Economic calendarCryptocurrency support
Trade cancellation toolPending trade
Trading signals

Pros

  • Available for all traders
  • Easy access and user friendly
  • Accurate trading tools
  • Available on web trading platform, desktop trading platform, and mobile application

Cons

  • Trading signals available for only VIP Account holders

Customer Service

With Olymp Trade, they provide a customer service support that is available 247. The customer support can be reached via email, phone support, or by contact form. Their phone support is available in South Africa and Argentina.

Pros

  • Available 24/7
  • Various methods of customer support
  • Relevant responses

Cons

  • PO customer service can be a slow process

Means Of Communication

  • Email
  • Phone support
  • PO Address
Many traders have been impressed by the trading experience of Olymp Trade, specifically in the customer service support and the withdrawal process. Traders who have requested withdrawals receive their funds in only 24 hours, while VIP Account holders receive it in a few hours. Many traders who have used the customer service were grateful of the fast and relevant answers they have received, but the PO customer support method has been considered slow compared to the other customer support options.

Client Education

Olymp Trade provides potential traders, who want to become experienced traders, access to the trading experience without facing any financial loss, through a Demo Account. The Demo Account offers virtual funds of ten thousand of the currency of trader’s choice, to give them the option to evaluate the benefits of their in-house trading platform.

Olymp Trade Educational Offering

  • Strategies
  • Webinar DO
  • Webinar Forex
  • Demo Account

Conclusion

Olymp Trade is a trading services provider that was created in 2014 in Saint Vincent and the Grenadines. It currently has 25,000+ active users, using either their Standard Account or their VIP Account. Olymp Trade is regulated by being a member of the renowned International Financial Commission (IFC), which is a mediator between the trader and the broker. The members of the IFC are required to hand in an annual report as a form of Monitoring and Evaluating, along with a 20,000USD financial compensation if there was any financial misconduct caused by the broker.

Olymp Trade is one of the most famous binary option brokers, since binary options are a rare trading asset. However, they do not accept clients from various countries, including but not limited to the US, UK, and Japan. They are also one of the very few brokers who have a strong social media presence, using social media as an educational tool for traders to learn through.

$10
Min. Deposit
50%
Bonus
Regulated byIFC
Leverage1:500
Customer Support24/5
Open Account

FAQ’s

Frequently Asked Questions
IS OLYMP TRADE SAFE?
Olymp Trade is a financial services provider that is regulated and part of the International Financial Commission (IFC). The IFC guarantees that if any financial loss takes place that was not caused by the trader, then they will be financially compensated with 20,000USD.
WHAT IS OLYMP TRADE AND HOW IT WORKS?
Olymp Trade is a well-known online trading platform, which was established in 2014. There are many different assets, including binary options which are a rare trading asset in brokers that have helped keep Olymp Trade afloat and surrounded by loyal clientele.
CAN I EARN MONEY FROM OLYMP TRADE?
You can earn money by trading with Olymp Trade through the trading sessions of these trading assets: Currency Pairs; Cryptocurrencies; Commodities; Stocks; Indices; ETFs; and Binary Option.
HOW MUCH CAN YOU WITHDRAW FROM OLYMP TRADE?
You can withdraw funds from Olymp Trade through these following withdrawal options: Bank Wire Transfer; Credit and Debit Cards; Neteller; Skrill; WebMoney; Qiwi Wallet; Yandex; FasaPay; or BitCoin.
HOW LEGIT IS OLYMP TRADE?
Olymp Trade is a financial services provider that is regulated and part of the International Financial Commission (IFC). The IFC guarantees that if any financial loss takes place that was not caused by the trader, then they will be financially compensated with 20,000USD.
WHAT IS RISK FREE TRADE IN OLYMP TRADE?
A risk-free trade in Olymp Trade means that whatever amount you traded with will automatically be returned to your account if your trade was unsuccessful. Thus, you will never be at risk of losing all your money during unsuccessful trades.
IS OLYMP TRADE A BROKER?
Olymp Trade is a broker that was founded in 2014 and it is now one of the most famous binary options brokers.  They currently have over 25,000 active users, which grows with each day.
DOES OLYMP TRADE ACCEPT MASTERCARD?
Yes, they accept Credit and Debit Cards for deposits and withdrawals. However, you can only deposit and withdraw funds that hold the same account name as your Olymp Trade account.
IS OLYMP TRADE A FOREX TRADER?
Yes, Olymp Trade is a Forex trading service provider, among 70+ other trading instruments.
WHERE IS OLYMP TRADE LOCATED?
Olymp Trade is located and headquartered in Saint Vincent and the Grenadines.

Olymp Trade Overall Performance

  • Safety and Regulation 92% 92%
  • Deposit and Withdrawal 98% 98%
  • Market Research and Trading Tools 95% 95%
  • Broker Fees 94% 94%
  • Trading Platforms 95% 95%
  • Customer Service 91% 91%
  • Account Opening 92% 92%
  • Market and Financial Instruments 96% 96%
  • Client Education 93% 93%