Contents
- 1 Olymp Trade Review: Pros and Cons
- 2 Key Features of Olymp Trade
- 3 Regulation and Safety
- 4 Trading Platform Overview
- 5 Account Types
- 6 Available Assets for Trading
- 7 Trading Instruments and Contract Types
- 8 Minimum and Maximum Trade Limits
- 9 Deposits and Withdrawals
- 10 Educational Resources
- 11 Customer Support
- 12 Pros and Cons of Olymp Trade
- 13 Frequently Asked Questions about Olymp Trade
- 13.1 What is Olymp Trade?
- 13.2 Is Olymp Trade regulated?
- 13.3 What is the minimum deposit for Olymp Trade?
- 13.4 Can I use a demo account?
- 13.5 What are the deposit options?
- 13.6 Are there fees for trading or withdrawing?
- 13.7 How can I contact customer support?
- 13.8 What types of assets can I trade?
- 13.9 What is the maximum payout percentage?
- 13.10 Is there a mobile app for Olymp Trade?
Broker rating:
| Broker | Olymp Trade |
| Company Name | Smartex International Ltd. |
| Headquarters | St. Vincent and the Grenadines |
| Regulation | No |
| US Traders Accepted | No |
| Max Payout | 90% |
| Bonus | Yes, terms apply |
| Trading Platform | Proprietary |
| Trading app | Available |
| Demo Account | Yes, free |
| Early Closure | No |
| Deposit Options | Credit/debit cards, QIWI, Yandex.Money, Neteller, Skrill, WebMoney, FasaPay |
| Deposit Currencies | US dollar, euro |
| Minimum Deposit | $10 |
| Minimum Trade | $1 |
| Maximum Trade | $5,000 |
| Online Since | 2014 |
| Trading Instruments (full list by type) | Currencies, stocks, commodities, indices |
| Number of Trading Instruments | 65 |
| Binary Option Types | High/Low, 60 Seconds |
| Customer Support Types | Email, web form, live chat, telephone, paper mail |
| Tools Offered | Economic calendar, trading signals (in-platform), early close, risk-free trades, Heiken Ashi, tick charts |
| Awards | Best Binary Options Platform in 2016 from IAIR Awards |
| Languages | English, Russian, Spanish, Portuguese, Indonesian, Thai |
Olymp Trade is a binary options broker that has been operational since 2014, owned and managed by Smartex International Ltd.. It is primarily known for catering to a wide spectrum of traders, although it has a significant focus on Russian clients. This platform offers an intuitive and user-friendly interface, making it particularly appealing to those new to trading as well as to more experienced traders seeking flexible trading options.
One of the standout features of Olymp Trade is its minimal deposit requirement. Traders can start trading with as little as $10, which is significantly lower than many other brokers, making it accessible for beginners. The platform allows for trades starting from just $1, enabling users to practice their strategies without substantial financial risk.
Olymp Trade provides a proprietary trading platform that supports a range of assets, including currencies, stocks, commodities, and indices. While it may not offer an extensive selection of trading instruments—totaling around 65 assets—the streamlined approach allows traders to focus on developing their skills rather than becoming overwhelmed by choices. Furthermore, it offers features like 60-second trades and in-platform trading signals to enhance the trading experience.
Although Olymp Trade claims to be regulated by the International Financial Commission, which provides some level of security for traders, it is essential to approach this platform with caution due to the lack of formal regulatory oversight. Overall, Olymp Trade remains a viable option for those looking to engage in binary options trading, especially for beginners.
Olymp Trade Review: Pros and Cons
Pros:
- Low minimum deposit of $10.
- Demo account available for practice.
- Wide range of deposit options including credit/debit cards and e-wallets.
- There are no fees for trading, depositing, or withdrawing.
- Support for multiple languages, making it accessible to a wider audience.
Cons:
- Not regulated by any significant financial authority.
- Limited selection of trading instruments (65 total).
- Only one type of trade offered—High/Low option.
- Restricted access for US traders.
- Mixed reviews about customer service handling during peak hours.
The purpose of this article is to provide a comprehensive overview of Olymp Trade, shedding light on its features, trading platform, regulations, account types, available assets, customer support, and educational resources. Whether you’re a beginner looking to dip your toes into trading or an experienced trader seeking a reliable platform, this review will give you valuable insights into the strengths and weaknesses of Olymp Trade as a trading broker.
Olymp Trade is a well-known online trading platform established in 2014, aimed at providing traders with a user-friendly interface and a variety of trading options. It operates under Smartex International Ltd. and has its headquarters located in St. Vincent and the Grenadines. The broker focuses mainly on binary options trading and has gained popularity particularly among traders in Russia and other parts of the world.
Key Features of Olymp Trade
Some of the standout features of Olymp Trade include its user-friendly platform, a wide selection of financial instruments, flexible trading options, and an attractive educational offering for users. With a keen emphasis on accessibility, traders can start with a minimal minimum deposit of just $10, making it a suitable choice for those new to trading.
Regulation and Safety
One of the key considerations for any prospective trader is the regulation of the broker. Although Olymp Trade promotes a sense of security through its affiliation with the International Financial Commission (IFC), it is important to note that this organization does not hold the same weight as a government regulatory body. The IFC does provide some consumer protection measures, such as potential arbitration for disputes, but the lack of strict oversight might be a concern for some traders.
Trading Platform Overview
The Olymp Trade platform is proprietary and designed to support both beginner and experienced traders. The interface is accessible and intuitive, enabling users to navigate through available options seamlessly. The platform can be used both on desktop and mobile devices, thus offering traders flexibility in managing their trades from anywhere.
Account Types
Olymp Trade mainly offers two types of accounts: the standard account and the VIP account. The standard account has a low entry point and is suitable for casual and new traders. On the other hand, the VIP account provides users with additional benefits, including higher maximum trade limits and exclusive access to specific features.
Available Assets for Trading
Traders on Olymp Trade can choose from around 65 different financial instruments, including options on currencies, stocks, commodities, and indices. This selection does not overwhelm the user, making it manageable for traders to become familiar with the markets they wish to engage with.
Trading Instruments and Contract Types
On Olymp Trade, users can access binary contracts, specifically the High/Low options and the ability to trade with 60-second expiry times. This approach allows for fast-paced trading sessions. However, the platform does not offer the breadth of contract types that other brokers might provide, such as One Touch or Ladder trades.
Minimum and Maximum Trade Limits
Olymp Trade allows traders to start with a minimum trade size of just $1, which makes the platform accessible for people looking to test the waters without risking significant amounts of money. For those who are ready to invest more, the maximum trade limit is set at $5,000, catering to different trading capacities and strategies.
Deposits and Withdrawals
Funding an account with Olymp Trade can be done through various methods, including credit and debit cards, as well as e-wallets like QIWI, Yandex.Money, Neteller, Skrill, WebMoney, and FasaPay. It supports deposits in US dollars and euros. One of the notable characteristics of this broker is that it does not impose any fees for deposits or withdrawals, which is a significant advantage compared to many other trading platforms.
Educational Resources
To assist traders in improving their skills, Olymp Trade provides a variety of educational tools such as basic articles and presentations on trading strategies. The platform also includes an economic calendar and trading signals within the platform, making it easier for traders to access crucial information and make informed decisions.
Customer Support
Customer support at Olymp Trade is available around the clock through various channels, including email, live chat, telephone, and web forms. This accessibility is crucial for traders who may have questions or need assistance during trading hours. While the support is generally well-reviewed, availability during peak hours can vary.
Pros and Cons of Olymp Trade
As with any broker, Olymp Trade has its advantages and disadvantages. On the positive side, it offers a low minimum deposit requirement, simple platform navigation, a demo account for practicing trading strategies, and the possibility of investing with minimal amounts. On the drawback side, the lack of formal regulatory oversight and a limited selection of trading instrument types may pose concerns for some traders.
In summary, Olymp Trade presents a strong option for novice traders and those with smaller trading accounts due to its flexible entry requirements and user-friendly platform. However, potential traders should weigh the benefits against the limitations, and carefully consider what they need in a trading environment before signing up.
Olymp Trade is a binary options broker established by Smartex International Ltd. and operates from St. Vincent and the Grenadines. Though primarily catering to Russian traders, it accepts clients globally, with the exception of the USA. Notably, Olymp Trade does not hold formal regulatory status but claims self-regulation through the International Financial Commission. The platform features a user-friendly interface and offers a limited selection of 65 trading instruments including currencies, stocks, commodities, and indices. Traders can start with a minimum deposit of just $10 and can execute trades with amounts as low as $1. Unique offerings include built-in trading signals, Heiken Ashi charts, and a generous 90% maximum payout. Furthermore, Olymp Trade boasts a zero-fee structure for deposits and withdrawals, making it an attractive option for beginners looking to explore trading without substantial risks.
Frequently Asked Questions about Olymp Trade
What is Olymp Trade?
Olymp Trade is an online trading platform that allows users to trade binary options using various assets such as stocks, currencies, commodities, and indices.
Is Olymp Trade regulated?
While it claims to have oversight from the International Financial Commission, Olymp Trade is not regulated by a government agency.
What is the minimum deposit for Olymp Trade?
You can start trading on Olymp Trade with a minimum deposit of just $10.
Can I use a demo account?
Yes, Olymp Trade offers a free demo account that allows you to practice trading without risking real money.
What are the deposit options?
You can deposit funds using credit/debit cards, e-wallets like Neteller, Skrill, and others.
Are there fees for trading or withdrawing?
Olymp Trade does not charge fees or commissions for trading, depositing, or withdrawing funds.
How can I contact customer support?
Customer support is available 24/7 through live chat, email, and telephone.
What types of assets can I trade?
You can trade a variety of assets, including currencies, stocks, commodities, and indices.
What is the maximum payout percentage?
The maximum payout on Olymp Trade can go up to 90%.
Is there a mobile app for Olymp Trade?
Yes, Olymp Trade provides a mobile app for trading on the go, making it convenient for users.