Olymp Trade Review 2022

Safety & Regulation

Olymp Trade offers the storage of client funds in segregated accounts, where the funds are kept in top-tier financial institutions.

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.

Olymp Trade is a certified brokerage firm by one of the best and strictest financial organizations 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 its 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 an 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.

Awards

The brand has picked up several awards, including:

• Best Financial Broker at the CPA Life Awards 2017
• Best Options Broker at the Forex Expo 2017
• Best Options Trading Platform at Le Fonti 2016
• Fastest Growing Broker at ShowFx World 2016

Accepted Countries

Olymp Trade accepts traders from Thailand, South Africa, Singapore, Hong Kong, India, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, and most other countries.

Traders can not use Olymp Trade from Canada, Australia, United States, Japan, Austria, Belgium, Bulgaria, Cyprus, Denmark, Finland, France, Germany, Ireland, Italy, Israel, Latvia, Lithuania, Netherlands, Norway, New Zealand, Portugal, Poland, Romania, Slovakia, El Salvador, Spain, Switzerland, Sweden, United Kingdom, Russian Federation.

Fees

Olymp Trade provides tight spreads and low non-trading fees. You will not have to worry about deposit and withdrawal fees, since there are not any. However, you will have to consider the high commissions charged while trading CFDs.

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.

Account Opening

Deposit & Withdrawal

Olymp Trade offers its traders 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.

Olymp Trade Deposit Options

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

Withdrawal

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.

Olymp Trade Withdrawal Options

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

Olymp Trade Withdrawal Options

The minimum deposit is low, at only $10.

How Long Does It Take To Withdraw Money From Olymp Trade?

Olymp Trade aims to execute every withdrawal request within 24 hours. However, in extreme cases, the withdrawal process can last up to 5 days.

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 are considered to be one of the best trading 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 the 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.

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.

Markets & Financial Instruments

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

Promotions And Contests

The brand says that it offers trading bonuses. It is worth remembering that trading bonuses are actually banned in the EU and across many other regulated markets, primarily because of the additional withdrawal conditions and clauses attached to the bonus. This usually takes the form of a minimum trade volume required, which can be too much of a challenge – even for experienced traders.

Olymp Trade regularly offers new users promo codes to avail of bonuses up to 50%. When signing up with these promo codes, new users will receive a 50% bonus on top of their initial deposit. However, it is worth bearing in mind the terms attached to these bonuses, and whether it is worthwhile to take advantage of in terms of how much you deposit.

Markets Research & 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.

Customer Service

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

Trading Tricks Related To Olymp Trade

Things to do in order to be successful when trading with Olymp Trade.

Treat A Demo Account Like A Real One

There is one great advantage that the practice account has over the real one. It is obviously the fact that you do not trade with your own money and what it further means you do not lose your own money in case of failure.

That is the reason why you should always practice strategies on the demo account. It does not involve high risk so your funds are safe. Every time I want to see if the strategy is effective or not, I would shift to a demo account. I try the specific tactic more than once. And only after I am sure it works as intended, I will move to the real account and use a given strategy there.

Moreover, I will try not only strategies on the practice account but also different financial instruments or the investment amount for a single trade. I practice, I try different possibilities and when I know what works and what doesn’t, I switch to the real account. And without hesitation, I choose the market, the strategy, and the investment amount. Many beginning traders use the practice account as a playground. They invest huge amounts, they use random strategies, they do not think much. It’s not their money after all. But this is wrong. Do not get used to such thinking. Treat a demo account like it was a real one. Otherwise, it may cost you real money in the future.

Using a demo account the way it was a real one boosts your confidence and trust. It helps you to distinguish the good moves from the bad ones, you get to know the strategies that work well and you become confident it will work on the real market as well.

You should do the very same thing in the trading field. And the great news is there is a free demo account on Olymp Trade.

Stay Away From 60-Second Trades

Of course, it is very tempting to make 82% of the investment in 1 minute. Even the thought of such fast money makes you smile. But you see, there is a problem. 60 seconds is so short, but also so long. You will feel anxiety and fear. And these emotions are robbing your rational thinking and leaving you vulnerable. Earning good profits in just 60 seconds can make you too confident. So you would think you have found out the easy way to big money and you would place more and more money in a single trade. This is a very easy way which can lead to erasing all your previous profits. Or worse.

You should never forget that even in such a short time as 1 minute, the prices are in a constant change. And even a small fluctuation in price may result in a severe loss for you. On the other hand, price fluctuations during longer timeframes are not so profound to make you lose everything. The price will keep changing in short or long timeframes. However, it is easier to analyze the market and predict its direction when using longer timeframes.

Check The Trading History Frequently

The principal rule for every trader is to minimize losses and maximize winnings. It will be much easier when you get the chance to review your past trades. The first traders held a handwritten transaction log. Every day they were checking which transaction brought a profit and which a loss.

Good news? You don’t need to do it. Olymp Trade provides a tool called simply “Trades” where you can see the whole history of your past transactions.

Now, what can you deduce from the trading history? First of all, if you made a profit or a loss on that particular day. Second, financial instruments generated the highest number of profitable trades. Then, what strategies work best, at what time you made the best investments. You can, for example, discover during trading candles on the EUR/USD currency pair that the highest payouts you receive between 10 am and 11 am. And thanks to having this piece of information you know when to trade this specific currency pair.

Build And Follow The Trading Plan

The first thing to do is to specify the time you want to spend on the Olymp Trade demo account. I decided it would be for 3 weeks. It should be long enough to find out which markets and at what time will bring me the highest profits. Another thing is to set the amount of money you are ready to put into the trade.

As was said before, reviewing the trading history is very important. I analyzed every single trade. I wrote my own detailed log where I specified the time, strategies, indicators, instruments, and timeframes I used.

A trading plan should cover the following:

1. The amount of money I would put in the deposit
2. The amount of money I would invest in a single trade
3. Timeframe
4. Charts and indicators I would use
5. Markets and times I would make transactions
6. The moment to stop trading (for me it was 3 subsequent losing trades)
7. The moment of profits withdrawal and the percentage of the account balance I would withdraw

Conclusion

Olymp Trade is one of the most famous forex brokers. 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.