Olymp Trade

In this Olymp Trade review you will find answers to questions like: Is Olymp Trade safe? What are the account types of Olymtrade? What is the minimum deposit of OlympTrade?
6.8/10 (Expert Score)
Product is rated as #27 in category Forex Brokers

Olymp Trade is a marketplace that offers binary options and forex trading with a great trading platform. The visitors of the website, olymptrade.com, are from different nations of the world which proves the popularity and the trustability the brokers gives to their new and current clients.

In this Olymp Trade review you will find answers to questions like: Is Olymp Trade safe? What are the account types of Olymtrade? What is the minimum deposit of OlympTrade?

6.8Expert Score
Good

I reviewed Olymp Trade based on the following criteria.

TRUST
7.5
COMMISSIONS AND FEES
6
CUSTOMER SERVICE
6
PLATFORM & TOOLS
7
PRODUCT PORTFOLIO
7.5
PROS
  • Regulated broker
  • Trading Platform
CONS
  • Limited account types

About The Company

What is Olymp Trade?

Coming from the fact that Olymp Trade believes in financial freedom. They’ve been sharing that concept with their clients since 2014 with continuous efforts to provide a safe and comfortable trading experience, with an ever-growing platform and easy access wherever and whenever the traders want.

With 60 million user accounts, 30 million monthly transactions on the platform, $16M average monthly payouts, and $211M monthly trade turnover. The broker has managed to gain trust and support all over the world.

With presence and clients from over 194+ countries around the world and a platform provided in a different language to ensure that you’d find your native language without any hassles. These languages include English, Arabic, Indonesian, Indian, Vietnamese, Russian, Thai, Portuguese, Malaysian, Turkish, Spanish, French, and Korean.

It is not only a digital option it is also a forex broker. You can get money with online trading if you know the dynamics of market. If you are a beginner, you should learn how to trade. Olymp Trade provides education for newbies such as strategies and webinars.

Not to mention their sponsorship of one of the football legends of all time, Ronaldinho. Which is one of the means the broker uses to prove trustworthiness and good reputation.

The broker is having many awards over the years with the recent being the Best Mobile Trading Platform awarded by World Finance in 2021.

Reliability

Is Olymp Trade Safe?

Olymp Trade states on their website the fact they’re a trusted and reliable broker as they’re a category A member of the Financial Commission (FinaCom), which confirms the company’s reliability and the high quality of services. The quality of the platform’s trade execution is certified by the Verify My Trade independent examination.

It’s a necessity to check for the trust and reliability of any broker when dealing in financial markets and trading, especially in forex. The regulation for the broker is the focal point that the broker is based on. Since it provides the state of assurance within the trades that their funds are safe, their transactions are secured and their accounts are ensured and protected from fraud, theft, or other financial crises.

Offering high-tech trading solutions, Olymp Trade is a broker who authorized and supervised by the Financial Commission in category A. In addition, the Financial Commission provides compensation up to €20,000 to cover investor’s funds in case of bankruptcy or other situations.

Thanks to Olymp Trade reliability, it earns some awards such as “Best Financial Broker” in CPA Life Awards 2017, “Best Options Trading Platform” in Le Fonti 2016, “Best Trading Platform 2018“ in The Forex Awards and more.

Account Types

Olymp Trade Account Types

Olymp Trade offers two account types; Basic and VIP. In addition to the presence of a demo account to allow easier trade without any costs and testing out strategies and knowledge and trying out the broker before diving into the actual forex markets and their actual funding.

The basic accounts offer strategies, indicators, and educational materials which are available for everyone. The minimum deposit Olymp trade for the basic account is $10. which means in order to open an account this is the least amount of funds you need to fund our account with. This, in fact, is a great way to start the account as it’s even less than the average of the market which is $100.

VIP accounts offer more benefits, starting from personal analysis to secret strategies and increased profitability. Within the VIP account:

  1. You’d have a personal consultation where you can ask and get information about the best ways to trade and consultation on strategies and so on.
  2. Plus, your profitability in the VIP account is guaranteed to raise up to 92% while trading assets because the return percentage is increased for them.
  3. Also, a risk-free function would be available for use where it represents a very special way to avoid losses.

There are 2 sublevels in the VIP account type which are:

  1. VIP minimum deposit Olymp trade of $2000 which it allows you to get a 30% bonus and 1 Risk-free trade per month
  2. VIP minimum deposit Olymp trade $5000 and get a 50% bonus and 3 Risk-free trades per month.

Trading Conditions

Olymp Trade Trading Products

Different trading products and assets can be traded with Olymp Trade which includes a wide variety of currency pairs within the forex, whether that was major, minor, or exotic pairs. In addition, a commodity like metals is also available including Gold, Silver, Palladium, Platinum, and Copper.

Different trading products and assets can be traded with Olymp Trade which includes a wide variety of currency pairs within the forex, whether that was major, minor, or exotic pairs. In addition, a commodity like metals is also available including Gold, Silver, Palladium, Platinum, and Copper.

ETFs are also possible to trade in with medium volatility with high news impact. NASDAQ, Natural Gas, Brent oil, and S&P500 are examples of available EFTs.

Indices are present too, if you were interested in trading them, some of the indices available are DE30 ( which is the German DAX 30 index), UK100 ( which is the British FTSE 100 index), JP225 ( which is the Japanese Nikkei 225 index), UT100 ( US Nasdaq 100 index), US30 ( which is US Dow Jones index), and more.

Cryptocurrencies are also taking a big part in trading assets as they have a big role nowadays in providing versatility to the trading accounts of the clients along with being fast and easy capital to hold onto within your financial wallet. some of the cryptocurrencies available for trade with Olymp Trade are Bitcoin, Ethereum, Litecoin, Ripple, Dash, and more.

Trading platforms

Olymp Trade Trading platforms

MT4 trading platform isn’t supported by the broker, which I find to be a great disadvantage considering that the platform is the best, most used and popular platform in the industry as it contains features and indicators to facilitate and simplify the trading process.

There are two platform options offered by the broker. These are mobile and web platforms. If you want to trade with your mobile device, you can download the Olymp trade app. You can also use your web browser to trade. Generally, traders choose to trader in browser because there is no need to download.

The interface of both platform is user-friendly. It is easy to use and has a variety of indicators and advanced charts. The platform has good customer feedback. It is safe and offers secure online trading.

Deposit and Withdrawal Options

Deposit and Withdrawal Options

There are different types and ways of funding which I find to be a very useful feature of the broker considering the different needs of different trades and the conditions to deposit and withdraw.

Bank card including credit and debit cards whether that was a Visa or MasterCard is available for funding. As well as E-wallet options including Skrill and Neteller, Fasapay and Webmoney, QIWI, Yandex Money and e-payments.

In addition to the availability of funding using cryptocurrencies including Bitcoin.

You will not need to verify your identity to deposit in your account with Olymp trade. Which can be done through your telephone number and e-mail address.

To fund your account you need to choose deposit section in you dashboard then payment method and fill in the deposit amount. After that you need to click deposit button.

Upon deposit, you’d be eligible to get one of the 3 deposit bonuses offered on the accounts. You get to choose which bonus you’d like to have added to your account. The different types of bonuses are:

  1. Welcome bonus
  2. Deposit bonus
  3. Promo bonus

If you want to withdraw your funds, you need to submit a withdrawal request in your dashboard. The maximum withdrawal period is 5 business day. Olymp Trade tries to process your requests as fast as possible. Usually the requests are processed within 24 hours or on the next business day.

You’ll need to follow these steps while making the request for withdrawal:

  1. Write the amount of money you want to withdraw. Make sure that your amount for the withdrawing is equal or more than €10 or $10 (Depends which currency you have chosen when registered), as this is the minimum amount for the withdrawing.
  2. Press the “Send a request” button. Money will be withdrawn to bank card which you indicated at your deposit.

There is no limit to the maximum amount you can withdraw from your account, and you should have your account verified in order to be able to make a withdrawal request. You can also cancel your withdrawal request yet you’ll need to send a request to customer support via email or live chat service.

The minimum withdrawal amount is $10 / €10 depending on the currency of your account.

Conclusion

Conclusion

Olymp Trade is regulated by FinoCom which is a great starter to look at the company’s profile as regulation represents the focal point on which the broker is standing on. Without regulation, non of the products offered nor the services available represent any difference since clients won’t be able to guarantee the safety of their funds. This all leads to the question is Olymp trade safe? now after seeing all proof and detailed information I can answer your question with a confident YES.

The broker is offering 2 account types with a minimum deposit Olymp trade of $10 for the Basic account and $2000 for the VIP account, where the VIP account allows you to be eligible for different categories of bonuses which is an option that isn’t available in the Basic account. The maximum leverage offered at the broker is 1:500 which seems to be enough.

Funding options are too seem variable providing diversity in choices to clients. Bank transfers, card, and e-wallet options are available for deposit and withdrawal along with cryptocurrencies too like Bitcoin.

An award-winning broker over the years with a great base of investors all over the world. A brilliant representation of the website and client support in different languages of the world in which you will, for sure, find the language you speak and use it without any inconveniences.

A 24/7 customer support available and ready for any kind of support you need. In addition to the presence of different types of trading instruments and assets to to allow variation in trading profiles.

There are many customer comments about broker and mostly positive. Olymp Trade is a platform that gives a good trading experience to new and expert brokers.

Valentin Cote

Valentin Cote

I am Valentin Cote, the author and owner of this personal blog. I compare and review forex brokers in my website. I am in the trading industry since 2009 and still learning. I also write useful articles for newbies about forex and investment. I love playing online games and Forex :)

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Who Am I?

Hello to everyone. Forexbrokerslab is my personal blog where I compare reliable forex brokers. I’ve been in forex trading since 2009 and I’m still learning. I have traded with the most popular forex brokers, including the most unknown ones in any regulation and many different account types. So I think I have enough knowledge to compare brokers. You can learn about forex brokers by reviewing my blog.

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