Because of easy access to the financial markets through the platform Olymp Trade is very popular. In addition, it is very comfortable to trade there which we will prove in the next sections. Furthermore, we will show you the conditions, functions, and possibilities for new traders who want to open an account with thisonline broker. Olymp Trade offers its traders various options on deposits and withdrawals.
On a more positive note, Olymp Trade is very beginner-friendly and has plenty in the way of educational resources to offer newcomers. The brand makes a point of stressing that they want to be an accessible broker for people of all experience levels and income levels. We also list the latest promotions and bonuses along with key comparison data like minimum deposit amounts, minimum trade amounts, and types of trade available. Olymp Trade is one of the most popular online brokers in the industry, with over 25,000 clients currently trading on its platform every day. I know very few traders come to OIymp to invest in stocks.
Never recommend this platform to…
When using a platform secured by FinaCom, any unlawful acts are covered by up to $20,000. Most countries inside of Asia, Africa, and Latin America are accepted by this broker. The platform looks clean and organized, with links that make it easy to find what you are looking for. This website is not intended for use in any jurisdiction where the trading or LimeFXs described are prohibited and should only be used by persons and in a manner permitted by law. Your LimeFX may not be eligible for investor protection in your country or state of residence.
- In this Olymp Trade review 2020 we are going to look at all the pros and cons of trading digital options with this online broker.
- The interface is designed with new traders in mind, taking time to develop education and an immersive demo.
- The options are unavailable before you register, which doesn’t work well with the vagueness of information about the broker.
- Despite the number of such trades is limited and given mostly to VIPs, it makes sense to opt for this.
- Moreover, you can use the desktop or mobile app what allows you to follow your operations everywhere you go.
Better informing yourself will enhance payout opportunities on multiple LimeFXs. Traders can keep their positions open for as short as 15 seconds up to 1 hour. Rather interesting on this trading platform is that instead of choosing from preset expiry rates, one can set one’s own expiry time.
But the company can provide the necessary tools, which you can study and leave for your future work. I generally like the fact that my broker and many others have started to make a significant emphasis on training. On the one hand it’s not worth anything for a large company. And it is great that they paid attention to this pattern and paid more attention to their clients. So you just have to decide whether you need it or not. And if yes, then to work on all 100% and not to expect that everything will turn out by itself.
As far as I can judge the broker is worth the trust for several reasons. First of all, it operates on the market since 2014 which makes it highly unlikely to be scam because of the fact that the scam brokers don’t live for a long time. Secondly, it has official regulation which confides the trust as well. The main question is whether you can accept the trading conditions which are provided by the broker. However, it took me some time to get used to the web platform because it greatly differs from MTs I used previously. Over time I learned how to use fixed amounts and multiplier values for different assets.
Olymp Trade offers a huge range of tools for analysis. If this is not enough for you you can use fundamental news and analysis which is also provided by Olymp limefx official site Trade. Another important point to check for a reliable online broker is the mobile app. For successful trading is necessary to use a mobile phone sometimes.
It can be done according to the price which means your position will be automatically opened when the price reaches a predetermined level. Or you can set the time when you would like your position to be opened. The other is to follow the price movements and sell the trade if you expect it will not end according to your previous assumptions.
- It’s very suitable and allow to adapt to constantly changing market.
- Along with that, all transaction fees are on Olymp Trade and they do not charge commissions to traders.
- I think I should read more information about the interaction with bonuses.
- More than 5,000 orders are executed by the employees of the IFC.
- You can install the app within 1 minute by downloading it from the app store.
For this purpose, a copy of your passport and a recent utility bill or bank statement within the previous three months should usually be enough. Once you have passed the Olymp Trade online verification process, then you will be ready to start trading. Binary options trading is a very risky type of trading to be engaged in. Hot Line – Olymp Trade can be reached by phone with a free number and is available 24/7.
Take profit and Stop loss
These consultants are experienced financial analysts who can provide advice on which trades to make. VIP account holders can also access additional training tools that are not available to standard account holders. While it would be beneficial to have more account types on offer, most users should find something to work with by choosing either a standard or VIP account. However, new users are reminded that CFD and forex trading is incredibly high risk and promises of returns of up to 92% should be considered dubious at best.
It is the best option for new traders who want to learn about prosperous trading. This platform also offers training and educational materials that are useful for investors who would like to start trading on the platform. The website offers the latest encryption standards and ensures that users’ data is safe. Customers can deposit funds to their accounts through https://limefx.group/ a wallet; this implies that they need not have to provide the personal banking information that is stored on the platform. The financial commission has regulated this platform for user experience in terms of the deposit and withdrawal process. If you want to choose a brokerage, you should determine the best platform regulated by a regulatory body.
What is behind Olymp Trade? – Company facts
Available payment methods include Bitcoin, Skrill, Neteller, MasterCard, Visa, WebMoney, and FasaPay. As stated before, this broker focuses mainly on Asia, Latin America, Russian speaking countries, the Middle-East and Africa. Their effective bonuses are really high compared to competitors and not charging any commissions or fees result in more profits for it’s traders.
- With the necessary education, Olymp Trade helps familiarize its new users with the world of online trading and the technicalities of the industry, most of it for free.
- Considering trying out Olymp Trade as your forex and options broker?
- This broker does not charge any account maintenance fee or custom fees but it charges a subscription-based type of fee, also known as an activity fee.
Most withdrawals are processed on the same day, although the operator says to allow for three working days . In terms of non-trading fees, Olymp Trade charges a fixed rate overnight fee on overnight trades, which is limited to 15% of the total LimeFX amount. Spreads also vary dependent on the type of account the user holds, with premium accounts offering lower spreads.
I am trading with them now to use skrill mostly for deposits and withdrawals. I wish soon they introduce local depositors for Indian traders. All this is available without having to open another account, you can very easily switch between these trading platforms from your old account.
Spread – This is the price difference between two related markets or commodities. Cryptocurrencies – digital tokens registered on a blockchain that can be exchanged online for goods and services, e.g. The biggest advantage is the high return of 92% or more. The chance of making money is higher than in a regular account.
Users need strong insights if they want to trade forex like a pro; they should know about trades and how to use the tools to execute profitable trades. Nowadays, many traders worldwide are looking for a professional broker to provide the platforms and services for their transactions. On the other hand, it is challenging to find the best broker in a world that has made competitive trading conditions. Many brokers’ websites and platforms may confuse you in choosing one of them, and one of the famous ones is Olymp Trade, which is reviewed in this paper. Not all brokers and offers are regulated in the United States of America. We don’t recommend, facilitate or encourage trading with products that are not regulated.
Investors can trade a minimum of $1 and a maximum of $2,000. The minimum amount for withdrawal is $10, and there is no maximum. They even offer courses tailored towards experienced traders.
I think that it would be rational to combine Metatrader and their web platform. Yeah, I agree that Metatrader is more suited for long-term trading due to classical leverage and the impossibility to trade fixed amounts. In turn, the web platform is good for active trading throughout the day, including scalping because it allows to choose how risky your trades will be. For more than a year I have been trading with this broker. I opened an MT4 ECN account here because I find it the best solution for me.
It is essential to guarantee your trades by considering the disadvantages. In this sense, you can plan with enough knowledge and capability. All the reliable brokers have their benefits and drawbacks, which knowing them lets you decide better and faster in choosing one of them. The advantages of this broker are more than that its disadvantages; however, you must know all of them together. Maybe one of the drawbacks of this broker is the thing that completely ruins your goals in trading. Our OlympTrade review found out that the owner of the broker is Inlustris Ltd., the company that is registered in Saint Vincent and the Grenadines.
Olymp Trade offers a free demo trading account, which you can gain access to by simply registering with the broker. The account comes with unlimited access and functions similar to a live trading account but with a few limitations. It also comes with $10,000 demo money which can be replaced anytime. Really convenient and understandable trading platform. A large selection of assets and several trading methods make this company a truly popular broker. For example, it’s officially regulated by several regulators and one of them provides traders with such an opportunity to reimburse deposit in case of various difficult situations.
As for the live account types, the available information is quite limited. Some sources state that there are Standard and VIP accounts, while others say there are Forex and Option orientations. Whatever the case may be, the Olymp Trade should be the one you can refer to instead of searching for data on other websites.