Olymp Trade Review

Overview

In this comprehensive review, we will explore Olymp Trade, a well-known online trading platform that has gained popularity since its establishment in 2014. Olymp Trade offers a range of trading opportunities in various asset classes, including stocks, commodities, ETFs, currencies, and cryptocurrencies. With its user-friendly interface and robust features, Olymp Trade aims to provide both beginner and experienced traders with a seamless trading experience.

One of the key advantages of Olymp Trade is its low barrier to entry. Traders can start with a minimum deposit of just $10, making it accessible to individuals with different budget sizes. The platform also offers a free demo account, allowing users to practice their trading strategies without risking real funds. Additionally, Olymp Trade is a member of the International Financial Commission (IFC), providing traders with added security and financial compensation up to $20,000 in case of any misconduct.

Key Features & Benefits

• Established and Regulated: Olymp Trade, established in 2014, operates as an online trading platform. It is a member of the International Financial Commission (IFC) and adheres to its regulations. Traders benefit from the financial compensation of up to $20,000 provided by the IFC in case of any financial misconduct.
• Low Minimum Deposit: Olymp Trade allows traders to start with a minimum deposit of only $10, making it accessible to individuals with various budget sizes.
• Wide Range of Assets: Traders on Olymp Trade can access multiple asset classes, including stocks, commodities, ETFs, currencies, and cryptocurrencies, providing diverse trading opportunities.
• User-Friendly Mobile App: Olymp Trade offers a mobile application with over 50 million installations. Traders can conveniently access the platform on their smartphones, enabling them to trade anytime and anywhere.
• 24/7 Customer Support: The platform provides customer support round the clock, ensuring that traders can receive assistance promptly whenever they need it. Support is available via email, phone, and contact forms.
• Educational Resources: Olymp Trade offers a range of educational resources, including webinars, video tutorials, trading tricks, and strategies. Traders can enhance their knowledge and skills through these resources to improve their trading performance.

What Did We Like about the Broker

Olymp Trade received positive feedback for several reasons:

• No Deposit or Withdrawal Fees: Olymp Trade stands out by not charging any deposit or withdrawal fees, making it more cost-effective for traders.
• Free Demo Account: Traders can practice their trading strategies risk-free using the platform’s free demo account. This feature allows beginners to gain experience and confidence before trading with real funds.
• Regulated by the Financial Commission: As a member of the IFC, Olymp Trade provides a regulated and secure trading environment. Traders can have peace of mind knowing that their funds are protected, and they have access to legal assistance if needed.
• 24/7 Customer Service: Olymp Trade offers reliable and responsive customer support, available 24/7. Traders can reach out to the support team via email, phone, or contact forms to receive assistance promptly.

Account Types & Pricing

Olymp Trade provides two main account types: the Standard Account and the VIP Account.

• Standard Account: The Standard Account is suitable for casual traders and those who want to test the platform using a free demo account. It requires a minimum deposit of $10, and traders can invest a minimum of $1 per trade. The standard account offers spreads of around 1.1 pips.
• VIP Account: The VIP Account is designed for advanced traders who are willing to deposit $2,000 or its currency equivalent. VIP Account holders enjoy benefits such as faster withdrawals, access to a VIP consultant, financial analysts’ assistance, and various trading instruments.

While the account types offered by Olymp Trade cater to different trading needs, it’s worth noting that the platform could benefit from providing more account options to accommodate a wider range of traders.

Trading Platforms

Olymp Trade provides its own proprietary trading platform, accessible via web, desktop, and mobile applications.

• Web Trading Platform: The web-based platform is user-friendly and provides essential tools and indicators for effective analysis. Traders can access multiple charts simultaneously and make use of features like the economic calendar, trading signals, and trade cancellation tool.
• Desktop Trading Platform: Olymp Trade also offers a desktop trading platform, compatible with both Windows and Mac operating systems. The desktop platform provides similar features to the web-based version but requires a separate download.
• Mobile Trading Platform: The mobile application provided by Olymp Trade is highly regarded, with over 50 million installations. It offers full functionality, including access to multiple financial markets, charting tools, and trading signals. Traders can even log in using their fingerprints, adding an extra layer of convenience and security.

Overall, Olymp Trade’s trading platforms are intuitive, customizable, and equipped with essential trading tools. The availability of mobile trading ensures that traders can monitor and execute trades on the go.

Customer Support & Education

Olymp Trade places emphasis on providing excellent customer support and educational resources to assist traders in their journey.

• Customer Support: Olymp Trade offers 24/7 customer support through multiple channels, including email, phone, and contact forms. The support team is known for its prompt and relevant responses, ensuring that traders’ concerns are addressed in a timely manner. However, some traders have reported slower response times when using the PO customer service option.
• Educational Resources: Traders have access to a wealth of educational resources on the Olymp Trade platform. These resources include webinars, video tutorials, trading tricks, and interactive courses. The platform also utilizes social media platforms like Facebook and YouTube to disseminate educational materials and engage with traders.

The combination of comprehensive customer support and educational resources makes Olymp Trade a valuable platform for both beginner and experienced traders.

Olymp Trade vs. Competitors

When comparing Olymp Trade to its competitors, two prominent names that often come up are Pocket Option and IQ Option. Each of these platforms has its own unique features and benefits, making them worthy alternatives for traders seeking different trading experiences. Let’s delve deeper into the comparison between Olymp Trade, Pocket Option, and IQ Option.

Olymp Trade vs. Pocket Option

Olymp Trade and Pocket Option are both online trading platforms that provide access to a wide range of financial instruments. However, there are some notable differences between the two.

One significant distinction is the trading platforms they offer. Olymp Trade has developed its proprietary trading platform, which is known for its user-friendly interface and intuitive navigation. The platform is equipped with essential tools and features, allowing traders to conduct technical analysis and execute trades efficiently. On the other hand, Pocket Option also offers its proprietary platform, which has a distinct look and feels compared to Olymp Trade. Traders who prefer a more visually appealing and customizable interface may find Pocket Option’s platform to be a good fit.

Another differentiating factor is the range of available assets. Olymp Trade provides traders with the opportunity to trade in various asset classes, including stocks, commodities, currencies, cryptocurrencies, and ETFs. In contrast, Pocket Option primarily focuses on binary options trading, offering a wide selection of binary options contracts across different markets. Traders who have a specific interest in binary options may find Pocket Option’s specialization appealing.

When it comes to account types and pricing, both platforms offer different options. Olymp Trade provides two main account types: the Standard Account and the VIP Account. The Standard Account is suitable for most traders and requires a minimum deposit of $10. On the other hand, the VIP Account is designed for advanced traders and requires a higher deposit. Pocket Option, on the other hand, offers several account types with varying features and benefits, allowing traders to choose an account that aligns with their trading preferences and goals.

In terms of regulation, Olymp Trade is a member of the International Financial Commission (IFC), which provides an added layer of security and compensation for traders. Pocket Option, on the other hand, does not hold a similar regulatory license. It’s important for traders to consider the regulatory aspects and the level of protection provided by the platforms they choose.

Olymp Trade vs. IQ Option

Another popular competitor to Olymp Trade is IQ Option. Both platforms have gained recognition for their user-friendly interfaces and comprehensive trading features. However, there are notable differences between the two.

One key distinction is the range of available trading instruments. While Olymp Trade offers a diverse selection of assets, including stocks, commodities, currencies, cryptocurrencies, and ETFs, IQ Option goes beyond and provides access to options, forex, cryptocurrencies, indices, and even digital options. Traders who prefer a broader range of instruments may find IQ Option to be more suitable for their trading needs.

When it comes to trading platforms, Olymp Trade has its proprietary platform, which is renowned for its simplicity and ease of use. On the other hand, IQ Option also offers its proprietary platform, which is highly regarded for its advanced charting capabilities and technical analysis tools. Traders who rely heavily on technical analysis may prefer the features offered by IQ Option’s platform.

Account types and pricing also differ between the two platforms. Olymp Trade offers the Standard Account and the VIP Account, with varying features and benefits. IQ Option, on the other hand, offers several account types, including the Standard Account, the VIP Account, and even a free Demo Account. This range of options allows traders to choose an account that aligns with their trading goals and preferences.

In terms of regulation, both Olymp Trade and IQ Option are regulated and authorized by reputable financial authorities. Olymp Trade is a member of the International Financial Commission (IFC), while IQ Option is regulated by the Cyprus Securities and Exchange Commission (CySEC). These regulatory bodies provide additional assurance and protection for traders.

Ultimately, the choice between Olymp Trade, Pocket Option, and IQ Option will depend on individual trading preferences, goals, and the specific features and benefits that align with those requirements. Traders should consider factors such as available assets, trading platforms, account types, pricing, regulation, and overall user experience before making a decision.

Learn More

Learn More

Learn More

• Bonus and Promotion
• Deposit Bonus
• No Deposit Bonus
• Cashback Rebates
• Live Trading Competitions
• Demo Trading Competition
• Refer A Friend
• Loyalty Scheme
• Review Link

• Yes
• Yes
• Yes
• Yes
• Yes
• Yes
• Yes
• Review

• Yes
• Yes
• Yes
• Yes
• Yes
• Yes
• Yes
• Review

• Yes
• Yes
• Yes
• Yes
• Yes
• Yes
• Yes
• Review

Conclusion

Olymp Trade, as a regulated and user-friendly online trading platform, offers traders a range of key features and benefits. With its low minimum deposit requirement, diverse asset selection, and intuitive trading platforms, Olymp Trade caters to both novice and experienced traders. The platform’s customer support, educational resources, and focus on trader safety contribute to its positive reputation.

While there are areas for improvement, such as expanding the account options and enhancing response times for certain customer service channels, Olymp Trade remains a preferred choice for traders seeking a reliable and accessible trading experience.

FAQs

Sources & External Links

• Olymp Trade website
• International Financial Commission (IFC)
• Olymp Trade Educational Resources
• Olymp Trade Blog
• Olymp Trade YouTube Channel
• Olymp Trade Facebook Page