Olymp Trade is an online trading platform that has gained significant popularity in the financial world. Launched in 2014, the platform offers a range of financial instruments for trading, including options, forex, cryptocurrencies, and commodities.
They boast over 25 million registered users from around the world and process more than a million trades per day. The platform is available as a web platform as well as a mobile app for Android and iOS.
If you want to know more about this platform; then this article is for you. Here we’ll try to share everything related to Olymp Trade. So, let’s dig into this article.
An Overview of Olymp Trade Platform
Olymp Trade is one of the most popular online trading platforms, offering new and experienced traders the opportunity to trade stocks, currencies, commodities, and cryptocurrencies from anywhere in the world.
To get started, you’ll need to create an account by providing an email address and password. Once your account is verified, you can fund it using a credit/debit card, e-wallet, or bank wire transfer. The minimum deposit is only $10, so you can start trading with a small amount of capital.
The Olymp Trade platform is intuitive and easy to navigate. You’ll see a list of available assets like EUR/USD, GOLD, BTC/USD, and major company stocks. Select an asset to view a simple price chart, set stop loss or take profit orders, and open or close a deal with the click of a button.
Olymp Trade also offers free demo accounts so you can practice trading with virtual money before risking any real capital. Their customer support team is available 24/7 to help guide you through the trading process.
With competitive spreads, a low minimum deposit, and an easy-to-use platform, Olymp Trade is an excellent choice for beginner traders looking to get started with online trading. Why not open a free demo account and give it a try? You’ve got nothing to lose and a whole new world of trading opportunities to gain.
Trading Options and Assets Available on Olymp Trade
Olymp Trade offers a wide range of assets for you to trade. You have over 75 different currency pairs, commodities like gold and oil, stocks from major companies, and cryptocurrencies like Bitcoin – so there’s something for every trader.
One of the biggest benefits of Olymp Trade is that they have a low minimum deposit to start trading, only $10! This allows new traders to open an account and start learning the ropes without risking a lot of money upfront. They also have a demo account where you can practice trading with virtual money before using your own cash.
For those who want higher risks and rewards, Olymp Trade offers short-term options like 60-second, 2-minute, and 5-minute trades. You can make lots of smaller trades in a short amount of time. They also have longer-term options if you prefer to analyze the markets more – you can trade expiries from 15 minutes up to 3 hours.
No matter what style of trading you prefer – short term, long term, high risk or conservative – Olymp Trade aims to provide a platform suitable for all traders. Their goal is to make trading accessible to people all over the world.
Olymp Trade Review: Is It a Scam or Legit Broker?
Olymp Trade is a popular online broker that offers binary options, forex, and stock trading. However, some users wonder: is Olymp Trade legit or a scam? Let’s review this broker in detail.
It is licensed and regulated by the International Financial Commission (FinaCom), an independent self-regulatory organization and external dispute resolution (EDR) body. This means Olymp Trade follows certain rules to ensure fair trading and protect your funds.
Olymp Trade also takes standard security measures like SSL encryption, two-factor authentication, and data protection. User funds are kept in segregated accounts at regulated banks and are not used for any other purposes.
The platform is intuitive and suitable for new traders. You can start with a low minimum deposit of just $10. Olymp Trade offers free education and analytics tools to help you improve your trading skills.
While some users report issues with withdrawals or customer service, Olymp Trade maintains an overall positive reputation. As with any broker, be sure to do your own research to determine if their offerings match your needs. But based on their regulations, security, and features, Olymp Trade seems to be a legitimate broker, not an outright scam.
Pros and Cons of Olymp Trade
Olymp Trade is a popular international broker, but as with any broker, it has both advantages and disadvantages.
Pros:
- Easy to use platform: Olymp Trade’s platform is intuitive and suitable for beginners. It’s easy to navigate and place trades.
- Low minimum deposit: You only need $10 to open an account and start trading. This makes it accessible for most people to try out.
- Demo account. Olymp Trade offers a free demo account with $10,000 in virtual funds so you can practice before trading with real money.
- High payouts: Olymp Trade offers up to 90% payout on successful trades. This is higher than many other brokers.
- Regulated and licensed: Olymp Trade is regulated by the International Financial Commission (FinaCom), an independent regulator, so your funds and information are secure.
Cons:
- Limited assets: Olymp Trade currently only offers forex pairs and commodities. It lacks stocks, indices, and cryptocurrencies that some other brokers offer.
- Higher spreads: The spreads, which are the differences between the buy and sell prices, tend to be a bit higher with Olymp Trade compared to some competitors. This can minimize your profits.
Final Thought
Olymp Trade offers a simple yet powerful platform for trading and investing that both newbies and experienced traders can benefit from. With low fees, high leverage, and a huge range of assets, Olymp Trade gives you a lot of opportunities to grow your money through trading.
Sure, there is risk involved with any investment, but if you start small, learn the ropes, and make smart trades, Olymp Trade can be a great tool for generating solid returns. Thank you all for reading this article.
