Olymp Trade Review

Olymp Trade, an online broker, was founded in 2014. This online broker, which is owned by Saledo Global LLC, is located in St. Vincent & the Grenadines. It’s available to users from more than 30 countries. You can choose from more than 80 instruments, including shares, currencies and cryptocurrencies as well as commodities and indices. This broker is not regulated in Europe or North America but it has been a member since 2016 of the Financial Commission (FinaCom). This membership is limited to select companies. It provides customer protection by covering trader up to EUR20,000 in the FinaCom Compensation Fund.

Trades on the platform require a minimum deposit of $10. This is one of the lowest rates in the industry.  The broker provides extensive trading education and resources to ensure traders are prepared before they invest their money. The company also offers training and a team that includes analysts who can provide traders with innovative trading strategies and ideas.

Olymp Trade Pros & Cons

Pros:

  • 24/7 Support
  • Wide range of Assets
  • Numerous Training Options
  • Very low initial deposit
  • User-Friendly Platform

Cons:

  • There is no regulation
  • Limited Bonuses
  • It does not accept US and EU clients
  • Customers Accounts not Segregated

What is Olymp Trade?

Olymp Trade is an international broker for online trading offering its users access to over 100 financial instruments via its platform. This trading platform and will allow you to become a successful trader by using your PC or smartphone to trade, train or analyze the market.

Olymp trade provide also a trading app has an intuitive interface that is easy to use and understands. It allows you to quickly find indicators and other analytical tools and make profitable trades. There are several examples of assets available.

Stocks: Apple and Tesla, Google
Indices: S&P500 and Dow Jones
Metals, Gold, and Silver
Commodities: Brent and Natural Gas
ETFs and other assets can be traded.

Olymp Trade recommended for?

Olymp Trade is recommended to beginners looking to invest their first time. This trading platform offers features like a low minimum deposit and access to a demo account. Another benefit is the abundance of resources and the OlympTraders’ Club for community learning.

Brokers have access to excellent training resources, such as webinars, analyst support and real-time monitoring and analysis of prices. Olymp Trade also provides other useful tools such as economic calendars or specialized webinars. A blog is also offered by Olymp Trade that allows traders to stay on top of the latest trading trends.

Broker RegulationThe Financial Commission (Hong Kong)

Options for Accounts

Type of brokerMarket Maker
Minimum Deposit$10
HedgingYes
ScalpingYes
Free DemoYes
Day Trading AccountYes
US Traders allowedNo

Top Features

  • Large Range of Assets Major currency pairs, indices and commodities as well as stocks from major companies like Apple, Microsoft and IBM, are all available to trade through an intuitive and user-friendly platform.
  • The platform offers extensive training. Support and educational value are provided by the platform in the form webinar sessions, analyst help, and economic calendars, among other tools.
  • Minimum Deposit: The minimum deposit required to trade on the platform is $10. The website allows anyone to trade instantly without the need to deposit large amounts. The minimum withdrawal amount is $10. This means that you can access your funds anytime, regardless of how large they are.
  • High Quality Platform: The Olymp Trade platform has an easy to use interface and is very user-friendly. It allows users to trade anywhere and is compatible with mobile and desktop. Olymp Trade supports MetaTrader 4.

Olymp Trade Overview

Type of Broker:ECN/STP
Regulation & LicensingThe Financial Commission
Assets OfferedStocks, Currencies, Cryptocurrencies, Indices, Commodities
Acceptance of Clients from194 Countries Around the World
Mobile CompatibilityAndroid, iOS
Platforms AvailableDesktop, Mobile, MetaTrader 4
Payment types accepted Wire Transfer, Credit Card or Debit Card; PayPal, UnionPay and Skrill.

Types of Olymp Trade Account

FeaturesECN accountStandard Account
Account CurrenciesUSD/EURUSD/EUR
Available Leverage500:1500:1
Minimum Deposit$10$10
Start Spreads0.61.1
Commission per Trade$4 per Lot0
Decimal PricingMaximum 5 DecimalsMaximum 5 Decimals
Trading Instruments35+ Currency pairs12 Cryptocurrencies10 Indices4 Metals2 Energies12 Stocks35+ Currency pairs12 Cryptocurrencies10 Indices4 Metals2 Energies12 Stocks
Min. Min.0.010.01
Maximum Lot Size per Trade2020
Demo AccountYesYes
Rollover/SwapYesYes
Copy trading supportNoNo

Trade and Investment Tools

24h TradingYes
Charting PackageYes
Streaming News FeedNo

Olymp Trade Compliance & Regulation

The broker is not subject to regulation in Europe, North America or Asia. It is however a member the Finance Commission (FinaCom), which is an external dispute resolution body for online trading. Olymp Trade has been registered with the commission as an A-class broker. FinaCom can help you resolve any disputes and complaints you may have against the broker. FinaCom can provide legal assistance to resolve your problem and may be able to help you obtain monetary compensation upto EUR20,000. This insurance policy is unique and attractive for traders. It isn’t a common product in the industry.

The platform is not open to users from North America and Europe. This broker targets Asia as its key market. The broker doesn’t have the approvals required to accept users from North America or Europe. Olymp Trade, however, is a well-known brand in the industry and its online presence demonstrates this.

Commissions & Fees

  • No rollover fee

Olymp Trade Pricing

This broker offers some of the best spreads in the industry. Spreads for standard accounts start at 1.1 pip, which is lower that many brokers on the market for an identical account type. Prices for stocks and crypto currencies vary depending on the asset. You can see the live pricing when you place a trade.

The broker doesn’t charge commissions for trades executed through its platform using a standard account. It charges $10 per month if a user doesn’t make any transactions for 180 days.

Service Details

Supported languages:English, Indonesian Portuguese, Russian Thai, Turkish, Vietnamese
Customer Service: Phone, Chat, or Email
Customer Service Hours:24h/7
Email Response Time:Up to 48 Hours
Personal Account ManagerYes
Telephone orders:No

Customer care / support

A 24/7 customer service line is available to customers in 8 languages. You can reach the customer service team via email, phone, or live chat. Customers can find the answers they need in the FAQ section of this website. The company’s customer service standards are comparable to the rest of the industry. Olymp Trade’s overall customer experience is excellent and efficient.

Website: olymptrade.com

Company: James Street, Kingstown. First Floor, First St Vincent Bank Ltd Building Saint Vincent and the Grenadines

Olymp trade customer care number: +35620341634 Malta (Available 24/7)

Customer Support e-mail: support-en@olymptrade.com

Reliability & Security

Olymp Trade’s platform has been rated as one of the easiest to use on the market. This broker is known for its accessibility features, including a fully customizable desktop version and access via a mobile application (Android or iOS). Olymp Trade also offers services via the MetaTrader4 platform. Trades made via the platform go quickly and there are no delays. The platform’s connectivity is also excellent.

Olymp Trade isn’t regulated, and client funds don’t go into separate accounts. However, the broker has built a strong reputation in the market. Multiple awards have been given to the broker for efficiency and high customer satisfaction ratings. Below are the key awards that were won by the broker:

  • CPA Life Awards 2017: Best Financial Broker
  • Best Trading Platform at Le Fonti 2016
  • Best Broker at KROUFR Awards 2016
  • ShowFx World’s Fastest Growing Broker 2016
  • Forex Expo 2017: Best Broker
  • IAFT Awards 2017, Innovative Broker Award
  • Best Trading Platform at Le Fonti 2018
  • The Forex Awards 2018: Best Trading Platform
  • Thailand’s Best Traders FB Group at Traders Fair 2018

Olymp Trade User Experience

Olymp Trade’s user interface is very smooth. To register for a demo account, you will need to fill out some basic information. Demo accounts can be opened immediately and you can begin trading. This account allows users to trade virtual currency in the amount of 10,000 units. You can trade these units to get an overview of the platform and its key benefits. The registration process to open a full account is slightly more difficult. To verify your account fully, the broker might ask you to provide a copy your passport, photo identification, proof that you are a resident of the country, and a payment confirmation. The verification process can take up to five business day in this instance.

In terms of withdrawal and deposit, the user experience is smooth. You can withdraw or deposit using a variety of methods, including wire transfers, credit cards, debit cards, UnionPay and Skrill. With more than 90% of withdrawal requests processed within 24 hours, the broker responds quickly to them. For traders, the minimum withdrawal amount is $10

Promo Codes

Promo codes can be a great way of increasing your trading volume and increasing your deposit. It’s easy to use one and it’s safe. Simply enter it in a specific field and you will get all the bonuses, including a larger deposit or a status upgrade.

All Olymp Trade promo codes have a time limit and are only valid for a certain time. It’s better to use Olymp Trade promo codes sooner than later, so if you already have one, make sure to take advantage of it. Its time for you to get the latest promo codes.

Olymp Trade: Final Thoughts

Olymp Trade is an excellent option for beginners traders who want to learn the basics. Olymp Trade offers a wealth of educational and training materials that will help traders prepare for their trading career. The platform allows traders to trade in currencies, stocks, commodities, and cryptocurrencies. There are over 80 options available.

However, investors should be aware that Olymp Trade does not have any regulatory oversight and customer accounts cannot be segregated. Olymp Trade has a strong community of traders and clients who are satisfied with their trading offerings.

FAQs about OlympTrade

Will I need to fund and submit compliance documentation in order to open a demo account?

There are no documentation requirements to create a demo account. To proceed, you will only need to fill in your basic information. Compliance documentation and verification are only applicable to live accounts.

Can US and EU citizens register for Olymp Trade?

Currently, US and EU citizens cannot trade on the platform. This is due to a lack of regulatory approvals. However, traders can still use the platform from more than 194 countries.

Is Olymp Trade legal in India?

According to different sources, Olymp Trade does not technically violate the law in India. However, it is not monitored or controlled in any way by SEBI and RBI. Is legal to trade Forex and Digital Options in India.

Is Olymp Trade trustworthy?

Olymp Trade broker is a popular online trading platform, allows traders to trade risk-free and open a real trading account with a minimum of $10. This platform has been trusted and reliable since its inception in 2014.

Are my funds safe with Olymp Trade?

The broker’s platform is secure. It is important to note that customer accounts cannot be separated and there is not regulatory oversight. In the event of a dispute with FinaCom, traders will be covered up to EUR20,000

How long does it take to withdraw money from Olymp trade?

Olymp trade withdrawals take between 2 and 5 working days. In my case, the payout was processed within a few hours. It was credited to my Neteller Account. It can vary depending on the payment method.

What deposit is required for Olymp trades?

After the registration is complete, you will be able to make a deposit and open a trading account. Olymp Trade’s minimum trade amount for is $1, while the minimum deposit is $10

How do you use an Olymp Trade coupon?

We’ll give you a quick guide on how to activate and use your Olymp Trade promo codes.

  • Click Deposit on the Olymp Trade. Next, select the deposit method and click the Promo code option.
  • To activate the promo code, enter it.
  • Enter the amount you wish to deposit.

That’s all! You have a nice bonus on your account. Boost your deposit!

Does Olymp Trade provide mobile trading?

The broker offers mobile trading. The broker offers mobile trading on both Android and iOS devices. The MetaTrader 4 platform is also available on mobile devices. For those who prefer the desktop version, it is also available.

Which account types are offered by Olymp Trade?

There is a choice of two types of account, an ECN account or a standard account. The company offers a demo account that allows you to test both of these types.

How to Delete Olymp Trade account?

You can also delete your Olymp Trade accounts by sending an email to the company requesting that they remove your Olymp Trade accounts from their database. Here are the steps to follow:

Step 1. Create your email account, which has been registered with Olymp Trade Account.

Step 2. Write an email and type privacy@olymptrade.com.

Step 3. Type “REQUEST to DELETE MY OLYMPTRADE ACCOUNT” in the Subject section.

Step 4 Send them an email asking them to delete all information about your Olymp Trade account and to erase all of your personal details.