Olymp Trade is simply one of the best Brokers for trading in the market. This broker has been online since 2014 and has offered excellent investment services since then. Initially, this Broker only offered fixed-time trades but later added the cryptocurrency market for trading and also allows Forex trading.
Olymp Trade is a properly regulated Broker by competent authorities, making it safe to trade in the market with any of its products. It is regulated by the FMRRC with license 0395AAVV0074, and on February 22, 2016, the Broker joined the International Financial Commission, granting it membership in FinaCom.
The International Financial Commission ensures monetary compensation of up to €20,000 if the authority does not voluntarily enforce a decision on the dispute by a member of the organization. In other words, any complaint against Olymp Trade for fraud is valid with this body, and the specified amount can be reimbursed to customers, as the entity does.
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What types of accounts does Olymp Trade offer?
This Broker offers various types of accounts for trading. However, it is essential to divide these accounts into those for Forex trading and accounts for Fixed-Time Trades. These accounts are:
Accounts for Forex:
- Two demo accounts: These demo accounts represent Olymp Trade’s Standard and ECN accounts for Forex. They have a fictitious balance to test all the Broker’s features and functionalities.
- Standard account: With this account, you can trade in Forex by paying spreads starting at 1.1 pips, and there is no fixed commission per lot. The minimum deposit is 10 units of the base currencies accepted by this broker.
- ECN account: With this account, you can trade in Forex with spreads of 0.0, but there is a fixed commission per standard lot. The minimum deposit is 10 units of the base currencies accepted.
All Forex trading accounts at Broker Olymp Trade allow you to connect them with MT4 for trading in the market; this investment platform is a must when it comes to Forex market operations.
Accounts for Fixed-Time Trades (Binary Options):
- Demo account: This is the demo account for those who want to trade on Olymp Trade using fictitious money and test the Broker’s operation. This account is ideal for people entering this Broker or the binary market for the first time.
- Standard account: This account is suitable for people who intend to trade Fixed-Time Trades with small amounts of money. More money can be deposited if desired. The limits of this account are low so that the majority of people can trade Fixed-Time Trades with little money. This account requires a minimum deposit of 10 dollars.
- VIP account: This account is exclusive and requires a minimum deposit of 2000 dollars or the equivalent in the other base currencies accepted by the Broker. This type of account is for people who trade with somewhat higher amounts of money, so the return on successful operations with this account increases considerably.
What are the additional functions of Olymp Trade’s VIP status?
- It allows risk-free trades, offering Traders the opportunity to recover the full amount of the investment if the operation is unsuccessful.
- You can use a unique business strategy that increases the likelihood of success.
- You have access to online seminars where you can get answers to your questions from professional analysts and successful entrepreneurs.
Is VIP status available for Forex?
Currently, VIP status is not available for Forex, it is only available for Fixed-Time Trades, but this may change over time. After all, Olymp Trade is always innovating. If this changes and you don’t find it updated in this post, remember that not including this information is not my fault, as I do not constantly track Broker updates.
Is Olymp Trade a reliable Broker or a scam?
As mentioned earlier, this Broker is good and very safe, so I can confidently say that it is not a scam at all. It is regulated by the FMRRC and has good reviews from most of its clients.
It is important to note that when you request a withdrawal from Olymp Trade, it may take up to 48 hours to appear in your account. However, in most cases, when using Neteller, Skrill, or Webmoney, the money is credited instantly. If another payment method is used, the time may be a little longer to process the transaction. If you want to deposit money in this Broker and have it credited instantly to your account, I recommend using Neteller, Skrill, or Webmoney.
Olymp Trade does not offer services in Europe
If you are from Europe, I recommend not wasting your time trying to register with Olymp Trade for Forex, cryptocurrency, or Fixed-Time Trades. Fixed-Time Trades are restricted in the European Economic Area. However, Forex and cryptocurrencies can still be used to trade in that territory, but Olymp Trade does not offer investment services there. If you are from Europe and want to trade in the Forex market or the cryptocurrency market, I recommend registering with Broker XM, as it is the best option you can find. It will serve you for trading in Forex with various instruments and also for trading with cryptocurrencies, especially Bitcoin.
What bonuses does Olymp Trade offer?
Currently, Broker Olymp Trade only offers a deposit bonus, which varies between 10% and 50% of the deposit amount or deposits made. This bonus starts at $3 and goes up to a maximum of $2,500.
- If you deposit $30, you can get a $3 bonus.
- With $100, you get a 20% bonus, equivalent to $20. Similarly, if you deposit $200, you can get a 20% bonus, equivalent to $40.
- If you deposit $300, you get a 30% deposit, i.e., $90. And by depositing $2,000, you can get a 30% bonus, equivalent to $600.
- If you deposit $5,000, you can have a 50% bonus on that amount, i.e., $2,500.
Accepting bonuses is not mandatory
Remember that accepting bonuses is not mandatory. If you register with Olymp Trade and only want to trade with your money without bonuses, you can do so without any problems. Bonuses are for those who want to accept them in their accounts after making deposits. However, before accepting any bonus, I recommend reading the terms and conditions of such bonuses on this or another Broker.
Does Olymp Trade pay?
If you deposit money and trade in the market with any of the available investment products and then want to withdraw your money, keep in mind that you can do so without any problems. Olymp Trade is entirely transparent and secure, as mentioned earlier. This Broker is regulated and audited, so you will have no problems related to fraud, theft, or scams.
What payment methods does Olymp Trade have for deposits and withdrawals?
- Deposits and withdrawals with Visa and Master Card credit cards.
- Deposits and withdrawals with Visa and Master Card debit cards.
Conclusions about Olymp Trade
Olymp Trade stands out for its reputation, solid regulation, variety of accounts, and attractive bonuses. Traders can trust its safety and transparency in withdrawals. However, it is essential to remember that each investor must make decisions and consider their personal goals and needs before trading with any Broker, but this one is undoubtedly very good.