Olymp Trade is simply one of the most popular and preferred online brokers in the market. The platform has a whopping 25,000 clients trading daily and enjoying best-in-class usability and functionality. Read the full Olymp Trade Review in the article below.
In this blog post, we’ll dive deeply and discuss the various advantages and disadvantages of using Olymp Trade like a professional or a beginner.
This review covers all major aspects like commission, withdrawal and deposit process, free or paid, and customer service.
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What is Olymp Trade
Olymp Trade is a much-loved online trading platform that allows users to earn big while investing less.
The company commenced its operations back in 2014, serving millions of customers worldwide.
It has been successfully emerged as an excellent and reliable online trading platform offering great functionality and customer service and continues to innovate. Makes it an appealing option for a vast majority of traders.
Olymp Trade offers a user-friendly and responsive platform, so whether you’re a beginner or a professional, you’ll not face any obstacles while trading.
It is highly recommended for beginners who want to trade for the first time as the platform has many beneficial features like minimum deposit and access to a demo account.
Because each trading platform is unique and has its pros and cons, it would be a great idea to deeply understand the trading platform you’re going to trade with.
Let’s talk about Olymp Trade; the company offers an easy-to-use and well-organized interface to deliver the best possible user experience.
Customers can access the platform via the web browser or a dedicated app for desktops running on Windows or macOS and smartphones running on iOS or Android.
The platform is straightforward; it does not have any learning curve. It will exactly show you what you want from it to show you. As a result, it becomes a lot more easy and convenient to track trades and trade successfully.
There are many good things to talk about the Olymp Trade platform, which you’ll surely be going to appreciate when you start trading with it.
What are the various Assets/Markets?
Olymp Trade provides the facility and convenience to trade in a wide range of markets and financial instruments.
The platform allows traders to trade in Stocks, Commodities, Currencies, ETFs, and Cryptocurrency.
Spreads & Commission
Olymp Trade is surely among the most attractive when it comes to spreads. The spreads offered by Olymp Trade start at 1.1 pips for a standard account.
It is comparatively lower because many other brokers in the industry charging a lot more. Noteworthy, spreads are accountable to increase/decrease depending on the current market conditions.
Olymp Trade Fees
Talking about fees, the platform charges a fixed rate overnight fee on overnight traders, limiting 15% of the total investment amount.
Olymp Trade won’t ask you to pay any additional charges like maintenance fees or anything relevant. However, the platform may charge $10 if you haven’t used your account within 180 days. To avoid this fee, you have to be active daily and perform trading or non-trading operations regularly.
Olymp Trade offers a dedicated smartphone app for both Android and iOS. The app is user-friendly and super responsive to use, packed with great features and cutting-edge technology. Customers can easily download the app via Google Play Store or App Store.
Alternatively, Android users can also download the official. Apk installs files directly from the Olymp Trade site.
The mobile app brings convenience to trade right from your smartphone, anytime, anywhere. Millions of users are using Olymp Trade mobile app for a seamless trading experience.
Here’s the biggest question of payment methods arrives when it comes to online trading platforms. Users may face some issues when going for withdrawal or even to invest.
Olymp Trade offers tons of deposit/withdrawal methods to bring more flexibility and transparency.
Here are some of the possible ways to deposit:
- Credit/debit card
- Bank Transfer
- Skrill, etc.
Withdrawals are fast and easy at Olymp Trade. Most withdrawals are processed on the same day. However, it will take not more than three working days to get credited to your bank account in some cases.
If you’re a beginner and want to learn how to trade, there’s nothing better than a demo account. It offers users the opportunity to open a free demo account.
It helps users to have a clear understanding of the platform. Also, it reduces the risk of money loss. Without proper understanding and knowledge, trading can be disastrous. If users feel it is working for them, they can invest real money and get started anytime.
Pros & Cons
Here are some pros & cons of using Olymp Trade, it will help you decide whether you should consider this or not.
|Less investment required for live trading||No social trading|
|Multiple funding options||Limited trading instruments|
|24/7 customer service||US or UK traders not accepted|
|Lots of training resources||Not regulated|
|User-friendly mobile app||Only two account types|
Olymp Trade has excellent customer service. The dedicated service team is available 24/7 to assist you; it doesn’t matter from which region you are.
Customers can reach out to them via the following modes:
Phone: +84 2844 581 413
Email: [email protected]
How Many Types of Accounts Does Olymp Trade Offer?
The platform currently offers 3 different types of trading account.
- Demo Account
- Live Account
How You Can Earn From Olymp Trade?
You can earn a substantial amount of money via Olymp Trade, even a lot more than you could imagine, but if you predict the charts correctly. Before the trade, keep in mind getting yourself a proper knowledge of the asset, gold, or anything you’re trading in.
Is Olymp Trade Genuine?
Yes, Olymp Trade is 100% legitimate and is one of the biggest trading platforms in the world. Millions of investors are earning a good amount of money via this platform.
Why can't I convert currencies?
If one of the currencies you select is not in effect for the date you request, you will see a message that the exchange rate data is not available.
The Values menu option allows you to see exchange rate trends, either as absolute exchange rates or as a relative change over time.
- The Rates option displays the actual exchange rate for a particular date.
- The % Change option displays the percent gain or loss in the value of the currency you want (the quote currency) against the currency you have (the base currency) since the start of the date range you are viewing.