Olymp Trade (Olymptrade) Review
Olymp Trade is a options broker which is quickly turning into one of the industry leaders. Read our in-depth review OlympTrade to find out if it's worth the try.
Bonus: Up to 100%
Options Payout: 70-92%
Broker Name: Olymp Trade
Platform: BO, CFD, Bitcoin
Options Payout: Up to 92%
Bonus: Up to 100%
No. Of Assests: >50
Demo Account: Yes
Minimum Deposit: $10
US Traders: Not Accepted
Olymp Trade is a options broker that is owned and managed by two separate companies: the Smartex International Ltd. with headquarters in Victoria, Mahe,
Seychelles and the Frandom Holding Ltd. with headquarters in Nicosia, Cyprus.
The broker OlympTrade was founded in 2014. Its payouts are up to 92%.
Olymp Trade is regulated by Financial Commission (FinaCom PLC).
Olymp Trade Account Features
Traders in Olymp Trade can choose to open their trading account with US Dollars or Euros as the base currency. This choice is made during the account registration and can not be altered later on. Therefore, the trader should choose his or her base currency wisely.
The minimum deposit that a trader can make with this broker is $10, which is low enough for even beginners with lower amounts of cash to invest. $10 is the lowest amount of minimum deposit that any broker in the field of options can ask for.
The Olymp Trade broker offers a number of important features to all its traders who deposit funds with them. The trading account is equipped with free market analytics and personal account manager. The traders are also entitled to an easy access to financial market and a payout of up to 92%.
All traders who register with Olymp Trade are qualified to get bonuses as well as other promotions offered by the broker. However, the terms and conditions of the bonuses are not laid out well on their website; they are left to your account manager to advise you accordingly.
This broker offers a demo account, and it is good to keep in mind that:
- You have to be registered with the broker in order to be allowed access to the demo account.
- The Demo account is funded with 10,000 virtual money which is more than enough for experimenting and also understanding the broker’s options trading platform.
- The demo account is also a very prime stage for testing new trading strategies.
- Demo account is by all means recommended even to experienced traders.
All the features of the Olymp Trade broker show they are set to serve all options traders and especially the newbies.
Olymp Trade also has an education section with articles and videos available to only the registered traders. Here beginners can get access to the beginners’ course which only takes 15 minutes. There are also different trading strategies that are explained, and also videos that provide further information. Any learning materials are easily accessible from the OlympTrade Academy.
Olymp Trade Trading Software
Olymp Trade uses its proprietary trading platform where registered traders can choose to trade different currency pairs and commodities.
Unfortunately, with their trading platform, the only type of options available for trading is the classic high/low option. The expiry time varies from 60 seconds to 3 hours. Therefore, this broker is a better choice for options traders who prefer short expiry times. The short expiry times also has higher risk but it is more profitable.
But for you to trade there are no downloads that are required. Traders carry out their trading in selected Internet browsers.
The OlympTrade options platform is very user-friendly. The trading chart is positioned on the right side of the website, while the area for viewing the placed trades is on the left. Their website has bright colors are thus showing exactly what each element is for and thus removing any confusion, even when it comes to inexperienced traders.
Furthermore, on the bottom of the trading platform Olymp Trade, traders will see a table that contains all their trading history which gives the traders an amazing overview of their trading history as well as their previous decisions.
The broker Olymp Trade also provides an Android app for Android operated devices and an iOS app for iPhone devices. This mobile app ensures that traders can trade on the go at whichever location and at whatever time provided it is within the allowed trading hours.
The broker’s website is very well designed and it is navigated by a drop-down menu bar that is placed on the right-hand side. All their Terms and conditions can be easily viewed at the bottom of the pages.
Just as with most options brokers, the Olymp Trade broker has a very responsive and supportive customer support team. This forms the basis of the relationship between any broker and their traders.
The broker’s support team is easily reachable in a number of ways. They can be reached via phone, live chat or email. The live chat and the phone call are the fastest means of communicating with the customer support, but if you are not in a hurry you can use the email address and your grievances will still be handled.
Olymp Trade is a trading system with a option based platform. It offers particular functions that are contingent with a customer’s perspective. These features may sound more enticing to a trader who is new to the world of trading than to one who is already big on making significant investments.
Olymp Trade appeals mostly to new and inexperienced traders who are looking for a risk-free and profitable way to invest their money, make reasonable profits and learn new strategies along the way.
One of the best feature of Olymptrade is that it offers free registration to new members with virtual credits of $10,000. It is to provide new investors with a general idea of how the whole system functions.
A demo account allows a new member to hone their trading skills, get accustomed with the strategies of the options trading platform, learn about the ground rules and get familiarized with what to expect before they begin trading with real money.
Olymp Trade doesn’t offer bonuses and signup incentives that are usually offered by most of the online brokers nowadays. Instead, they offer their traders with the lowest level of investments possible. Registered members of Olymptrade can trade with the minimum amount of $1.
While being the most moderate to low risk platform. Olymptrade also provides newbie traders with a low rate of profit and loss making it ideal for someone who is just stepping into the world of trading.
Open an account with Olymp Trade today, by clicking on the following link: Start trading
Olymp Trade (Olymptrade) Review Reviewed by Ivan Ivanov on September 20, 2018 Rating: