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 2023, you will find answers to questions like: Is Olymp Trade forex safe? What are the account types of Olymtrade? What is the minimum deposit for OlympTrade?
I reviewed Olymp Trade based on the following criteria.
- Regulated broker
- Trading Platform
- Limited account types
About The Company
What is Olymp Trade?
Coming from the fact that Olymp Trade forex 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. This part of the Olymp trade review will break done the visions and tasks carried out by Olymp trade forex to deliver their services to their clients.
With 60 million user accounts, 30 million monthly transactions on the platform, $16M average monthly payouts, and $211M monthly trade turnover. Olymp trade forex 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. Where Olymtrade Malaysia is having a high place among all others.
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 the 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 Olymp trade forex uses to prove trustworthiness and good reputation.
Olymp Trade forex is having many awards over the years with the most recent being the Best Mobile Trading Platform awarded by World Finance in 2021.
Is Olymp Trade Safe?
I think it’s a pretty logical question to start this Olymp trade review with, knowing whether your forex broker is safe or not is the first step in any trading journey in a vast market like the forex.
Olymp Trade states on its website the fact they’re a trusted and reliable broker as it’s 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 any broker is the focal point of their existence in the market. 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 forex is a broker authorized and supervised by the Financial Commission in category A. And so, this information would answer the question “is Olymp trade safe” in which the answer would be yes, Olymptrade is safe. In addition, the Financial Commission provides compensation of up to €20,000 to cover investors’ 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.
Olymp Trade Account Types
This section of the Olymp trade review will break down the different types of accounts offered within the Olymp trade forex platform. Olymp Trade offers two Olymp trade account types; Basic and VIP. In addition to the presence of a demo Olymp trade 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 Olymp trade account offers strategies, indicators, and educational materials which are available for everyone. The minimum deposit Olymp trade for the basic account is $10. This means in order to open an Olymp trade 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.
Olymp trade VIP account offers more benefits, starting from personal analysis to secret strategies and increased profitability. Within the Olymp trade VIP account:
- 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.
- Plus, your profitability in the Olymp trade VIP account is guaranteed to raise up to 92% while trading assets because the return percentage is increased for them.
- 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 Olymp trade VIP account type which are:
- VIP minimum deposit Olymp trade of $2000 which allows you to get a 30% bonus and 1 Risk-free trade per month
- VIP minimum deposit Olymp trade $5000 and get a 50% bonus and 3 Risk-free trades per month.
Olymp Trade Trading Products
Different trading products and assets can be traded with Olymp Trade which includes different tools to be added to the client’s trading portfolio that allows them to distribute their risk and benefit from the rise and fall of prices. This section of the Olymp trade review will explain in further detail all the available trading instruments presented by Olymp trade forex.
Forex: a wide variety of currency pairs within Olymp Trade forex, whether that was major, minor, or exotic pairs.
Commodities: including metals are 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: 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 the US Dow Jones index), and more.
Cryptocurrencies: they 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.
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. And so, this section of the Olymp Trade review 2023 will reveal the different platforms that can be used to trade with Olymp trade forex.
There are two platform options offered by Olymp trade forex. 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 trade in the browser because there is no need to download.
The interface of both platforms 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 Olymp trade forex considering the different needs of different trades and the conditions to deposit and withdraw. And through this part of this Olymp trade review, I’ll show you the different methods you can fund your account as well as breaking down the Olymp trade withdrawal review.
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 the deposit section in your dashboard then the payment method and fill in the deposit amount. After that, you need to click the 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:
- Welcome bonus
- Deposit bonus
- 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 days. Olymp Trade forex will 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:
- Write the amount of money you want to withdraw. Make sure that your amount for the withdrawal is equal to or more than €10 or $10 (Depends which currency you have chosen when registered), as this is the minimum amount for the withdrawal.
- Press the “Send a request” button. Money will be withdrawn to the 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 of Olymp Trade review 2023
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. 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.
Olymp trade forex is offering 2 account types with a minimum deposit Olymp trade of $10 for the Basic Olymp trade account and $2000 for the VIP account, where the Olymp trade VIP account allows you to be eligible for different categories of bonuses which are 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.
This Olymp Trade review 2023 has shown the Funding options which also seem variable providing diversity in choices to clients. Bank transfers, card, and e-wallet options are available for deposit and withdrawal along with cryptocurrencies like Bitcoin as mentioned in the specified section in the Olymp trade withdrawal review.
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.
Through this Olymp trade review, I’ve shown that there is 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 allow variation in trading profiles.
There are many customer comments about brokers and mostly positive. Olymp Trade is a platform that gives a good trading experience to new and expert brokers.