Olymp Trade offers binary options for predicting and analyzing fluctuations and changes in the forex and financial markets. This versatility is a key reason for its current popularity and widespread use. So, what is Olymp Trade? How does this platform operate? And what steps can you take to execute the most effective trades on Olymp Trade? In the following sections, we'll provide comprehensive information as part of an assessment process for this trading platform, along with the essential requirements when joining the Olymp Trade community. Let's delve into it right away.
An Overview of Olymp Trade
Olymp Trade is an online financial trading broker that has gained immense popularity and a strong following. It is going globally, that this trading platform is highly regarded for its product quality and effective customer protection and promotional policies.
Throughout its formation and development, Olymp Trade has extended its presence to 134 countries around the world, attracting a substantial and ever-growing number of clients. This growth solidifies its position and the immense strength it brings to the world of trading.
What is Olymp Trade?
Olymp Trade is a binary options trading platform, at its core, designed for assessing and offering financial products like currencies, stocks, equities, and indices within a specified time frame. Financial investors and traders have the responsibility of predicting and making decisions on price increases or decreases. Accurate predictions lead to corresponding profits based on the trade volume ratio, while incorrect predictions result in losses.
Fundamentally, Olymp Trade is similar to platforms like Binomo and IQ Option, all of which enable customers to exercise binary options, profiting from price predictions within a set time frame, ranging from 1 minute to 30 minutes. Consequently, its essence is closely tied to luck, akin to gambling games like roulette or dice.
What Are Binary Options?
As mentioned earlier, Olymp Trade is a binary options trading platform. But what are binary options? Binary options, or options trading, is a form of trading where participants must choose one of two exclusive options: Up or Down, or Increase or Decrease, as stipulated within a specific time period. You win when you make the correct choice and lose when you make the wrong one. Predicting price increases or decreases on Olymp Trade is linked to specific financial assets such as stocks, bonds, forex currency pairs, and even cryptocurrencies like Bitcoin.
Achievements of Olymp Trade
Despite being a relatively young platform, Olymp Trade has achieved numerous milestones that affirm its quality and strength. With over 6 years of operation, Olymp Trade has expanded its presence to more than 134 countries and garnered various commendable awards and accolades. Specifically, the platform has achieved impressive figures such as:
- Over 25,000 traders participate in trading on the platform every day.
- A record of 247,256 users actively engaged in trading.
- A total of 37,990,740 successful trades were executed in the previous month.
- An estimated monthly trading volume resulted in an impressive revenue of $171,236,104.
Olymp Trade has earned several prestigious international awards, including:
- “Best Financial Broker” at the CPA Life Awards 2017.
- “Best Fixed Time Trades Broker” at Forex Expo 2017.
- “Advanced Broker” at the IAFT Awards 2017.
- “Best Trading Platform” at Le Fonti 2018.
- “Best Trading Platform of 2018” at The Forex Awards.
- “Best Thai Trader Community on Facebook” at Traders Fair 2018.
Olymp Trade Regulation
In 2016, after two years of operation, Olymp Trade officially became a member of the Financial Commission (FinaCom), an international financial regulatory body. FinaCom serves as a third-party entity that actively participates in the management, oversight, and control of the platform's operations. This involvement aims to safeguard the rights and support the resolution of any disputes that may arise among traders using the platform.
As of the present, Olymp Trade has maintained a clean reputation without any negative reports related to security, fund deposits and withdrawals, or similar issues encountered by traders. If any irregularities occur, the platform commits to compensating damages of up to 20,000 Euros. This commitment has earned Olymp Trade the trust of Vietnamese and global traders alike. The platform ensures a trading experience that is both enjoyable and transparently secure.
In 2018, after auditing 5,000 trading orders on Olymp Trade, Verify My Trade confirmed the platform's credibility. This process was meticulously executed to ensure that all actions adhered to the predetermined standards and requirements, demonstrating the transparency and trustworthiness of Olymp Trade as a trading platform.
Payout Ratios at Olymp Trade
The payout ratio is the percentage of funds paid out if a player wins a bet, typically defined as a certain percentage. For instance, if you place a $100 bet with an 80% payout ratio, winning the bet would earn you $80 while losing it would result in a $100 loss.
At Olymp Trade, the payout ratios are considered to be at an average level and are suitable for most traders participating in trading. These ratios stipulate a maximum of 80% for regular accounts and 92% for VIP accounts.
However, payout ratios may vary based on the specific trading period and the types of traded assets. In general, the minimum payout ratio needs to be at least 80% for traders to select the currency pair or commodity they wish to trade. If the ratio is lower than this threshold, traders must opt for a different asset pair.
Is Olymptrade Legit?
To answer this question, let's explore the fundamental legal elements required of an online financial brokerage and the mandatory conditions for their operation.
Olymp Trade's Operating License:
As mentioned earlier, Olymp Trade has obtained an official license and has become a member of the International Financial Commission (FinaCom). This is the most concrete evidence of Olymp Trade's credibility and quality. It affirms its position as a trustworthy, honest, and high-quality brokerage platform. The Financial Commission safeguards investors' deposits into the platform by establishing a Compensation Fund of up to €20,000 and resolving all complaints, big and small, related to the platform's transparency.
Awards and Recognitions:
One of the most apparent indicators of Olymp Trade's credibility lies in the multitude of prestigious awards it has received. In addition to being managed and supervised by a reputable organization, Olymp Trade has reinforced its role and responsibility through the achievement of various significant awards:
- “Fastest Developing Broker” at the Showfx World Awards in 2016.
- In 2017, it received the “Innovative Broker” award from IAFT and was honored with the “Best Financial Broker” award at CPA Life.
- In 2018, it earned distinctions as the “Best Forex Trading Platform” and “Best Trading Platform” at the Le Fonti Awards, as well as the “Best FB Trader Community in Thailand.”
- In 2019, it claimed awards such as “Best Mobile Trading Experience,” “Best Mobile Trading Platform,” and “Best Customer Support Broker.”
- In 2020, it was recognized as the “Best Customer Support Broker” and the “Best FX Trading Platform” at Forex Expo.
Furthermore, in 2019, Eben Etzebeth, a top-ranked South African rugby player, became a significant partner of Olymp Trade. The platform also takes great pride in its official sponsorship of the LCR Honda MotoGP™ racing team for the 2020 season. These collaborations and accolades further solidify Olymp Trade's standing in the industry.
Olymp Trade Account Types: Choosing the Right Fit
Olymp Trade offers three main account types to cater to diverse trading needs and preferences: Starter, Advanced, and Expert accounts. Each account comes with its unique features, benefits, and limitations, making it crucial for traders to choose the one that aligns with their goals and trading style. Let's explore the options:
1. Starter Account:
- Up to 82% maximum profit potential.
- Maximum trade amount of $2,000.
- Withdrawals are processed in 1-2 days.
- Basic training package included.
- Access to 10 free indicators.
- Basic guidance and expert signals.
- Up to 10 simultaneous positions.
2. Advanced Account:
- Minimum deposit of $500 per trade.
- Higher profit potential (up to 84% on specific assets).
- Quick and simple withdrawals.
- Maximum trade amount of $3,000.
- Up to 20 simultaneous positions.
- Monthly consultation with personal analysts.
- Includes 7 integrated trading strategies.
- Access to webinars and specialized resources.
- Up to 10% reduction in Forex commission fees.
- Access to 11 free indicators.
3. Expert Account:
- One-time minimum deposit of $2,000.
- High-profit potential (up to 93% on selected assets).
- Limited risk for Fixed Time Trades (5% initial deposit).
- Rapid withdrawal options.
- Maximum trade amount of $5,000 (Fixed Time Trades) and $4,000 (Forex).
- Up to 30 simultaneous positions.
- Personalized training and individual analysis.
- Access to 15 effective trading strategies.
- Exclusive webinars and specialized documentation.
- Daily unique investment ideas.
- Up to 20% reduction in Forex commission fees.
Olymp Trade's Diverse Trading Products
Olymp Trade offers a diverse range of trading products, which can be categorized into seven main groups, making it easier for traders to navigate and engage in the financial markets:
- Includes 33 currency pairs, featuring both major and minor pairs.
- Comprises 6 major commodities, such as oil, natural gas, gold, silver, platinum, and copper.
- Offers 37 stock assets from influential global companies, including Amazon, Apple, Facebook, Alibaba, and BMW.
- Provides access to 14 index assets like DAX, CAC 40, and FTSE 100.
5. ETFs (Exchange-Traded Funds):
- Includes 4 ETFs, including MSCI Brazil 2x, NASDAQ Reversal 2x, S&P 500 Volatility 1.5x, and U.S. Real Estate.
- Consists of 4 digital currencies, offering Bitcoin, Litecoin, Ethereum Classic, and the Altcoin Index.
7. OTC (Over-The-Counter):
- Features 8 OTC pairs, such as AUD/USD OTC, EUR/USD OTC, and Gold OTC.
This diverse selection of trading products allows traders to explore various financial markets, each with its unique characteristics and potential opportunities.
Leverage, Commission, and Spreads at Olymp Trade
Financial Leverage: Leverage ratios on Olymp Trade range from 1:10 to 1:500. The specific leverage level varies depending on the product group traded. For Forex trading, leverage can be as high as 1:500, while precious metal asset pairs typically offer leverage from 1:20 to 1:50. These leverage ratios are competitive within the Forex trading industry.
Commission Fees: Commission fees at Olymp Trade are calculated based on the amount invested by clients and the multiplier chosen before trading. However, the fee structure does not exceed 15% of the trading amount.
Spreads: Spread fees at Olymp Trade vary depending on the trading platform and product chosen by traders. For the Forex and Fixed Time Trade platforms, Olymp Trade does not charge spread fees. However, the spread fee for MT4 trading depends on the type of account used by the trader.
Olymp Trade Trading Platforms
In addition to the popular MT4 platform, Olymp Trade provides two distinct trading platforms: Forex and Fixed Time Trade. Notably, these platforms offer direct trading on the website without the need for downloading applications. Here are some key advantages of the trading platforms Olymp Trade offers:
- Extremely user-friendly interfaces that make trading accessible to all.
- Optimally integrated tools that empower traders to analyze and evaluate their trades effectively.
- Full compatibility with prevalent operating systems like IOS and Android, whether on mobile phones or laptops. The download process is simple and swift.
Olymp Trade's trading platforms aim to provide seamless, efficient, and convenient trading experiences for its users.
Deposits and Withdrawals on the Olymp Trade Platform
One of the standout features of the Olymp Trade trading platform is its extensive range of payment methods, catering to diverse preferences and purposes of users. Furthermore, transactions on Olymp Trade are quick and straightforward:
- Internet Banking Transfers: Olymp Trade is linked with most domestic banks in Vietnam, including Vietcombank, Vietinbank, Techcombank, Sacombank, ACB, Dong A, BIDV, Eximbank, and more.
- Visa/Mastercard Payments
- Third-party E-wallets: Options like Momo, Neteller, AstroPay Card, Skrill, Perfect Money, and Tether are available.
- Cryptocurrency Payments: Olymp Trade accepts Bitcoin and Ethereum.
Notably, Olymp Trade imposes no fees on deposits and withdrawals, except for transactions through Perfect Money, which may incur charges ranging from 0.5% to 1.99%.
When performing withdrawal operations on the Olymp Trade platform, the processing time typically ranges from 2 to 5 business days, depending on the chosen payment method. Nevertheless, Olymp Trade aims to expedite processing, completing around 90% of withdrawal requests within 24 hours. The minimum deposit amounts for various methods are as follows:
- Internet Banking: $15/euro
- Visa and E-wallets: $10/euro
- Bitcoin: $90/70 euro.
Frequently Asked Questions about Olymp Trade
- Is there a guaranteed strategy to always win in Olymp Trade?
Winning in any trading arena, including Olymp Trade, requires strategy, skills, and the ability to analyze and predict future price trends accurately. Olymp Trade primarily involves binary options trading, which relies on financial speculation and a certain degree of luck.
- Is Olymp Trade a scam?
Olymp Trade is a reputable financial trading organization, supervised and managed by a trusted global financial institution. It is not a scam. They provide safeguards to protect the rights and payments of customers in case of errors on the platform. Olymp Trade has also received numerous prestigious awards and positive customer reviews.
- Is it advisable to trade on Olymp Trade?
Online currency trading is a popular and exciting activity worldwide. Olymp Trade offers a platform where you can engage in such trading. However, it's essential to research the market and effective Forex trading strategies before participating. It's ideal for those who enjoy risk and speculative endeavors.
- How many accounts can one have on Olymp Trade?
At Olymp Trade, you can connect up to five separate accounts. Each account operates with a specific base currency, including EUR, USD, BRL, MXN, and THB.
- Do I need to install any software on my PC for Olymp Trade?
Olymp Trade allows you to trade directly on their online platform without requiring software installation. However, they do provide full trading software options if customers prefer to install them on their devices for easier tracking.
- What is a separate account on Olymp Trade?
When you deposit money into your Olymp Trade account, the funds are placed in a distinct account. This account is managed and controlled by Olymp Trade's company but is entirely separate from the company's operational reserve fund. The company commits not to utilize the funds in a separate account for its business operations, ensuring transparency and the necessary level of security.
- Who can use Olymp Trade?
Olymp Trade aims to provide a global trading platform. It welcomes anyone interested in online trading, anywhere in the world. They particularly recommend new traders who can take advantage of the platform by starting with as little as $10 in a demo account.