When it comes to trading online, you have plenty of options that let you trade from the comfort of your home.
Names that are most popular in the industry include Zerodha, IQ Option, Olymp Trade, Binomo, Expert Option, etc.
Today in this blog post, I am gonna review such a platform named Olymp Trade. People tend to ask various questions including “Is Olymp Trade a scam?”
I will share my opinions on Olymp Trade and offer you some precious information that you need to know before start trading on Olymp Trade.
Olymp Trade is a widely known name in the industry and has been serving the consumers since 2014. It is an international online trading platform offering trading on –
- Cryptocurrency
- Stocks
- Indices
- Pairs &
- Commodities
Olymp Trade is a property of Saledo Global LLC and its website is managed by the same. Saledo Global LLC is certified by the International Financial Commission (FinaCom)
Acquiring over 25000+ active clients every day, Olymp Trade is the prime choice of many.
But is Olymp Trade the right choice for you? With so many scams in the industry, it’s important to make a proper research before starting trading on any trading platform.
To ease your research, I am here with detailed Olymp Trade review, I’ll cover everything you need to know in detail and let you know whether Olymp Trade is a Scam or not?
Let’s dive right in and find out.
What Makes Olymp Trade A Choice For Investors?
As I told earlier, Olymp Trade has over 25000 active clients every day. With 50M+ downloads with an exceptional rating of 4.3 on the Google Play Store, Olymp is the choice for a large number of investors.
The user interface of Olymp Trade is clean and easy to navigate.
You get a variety of options including website, mobile app (Android and iOS), as well as an application for PC (both Windows and Mac).
The app is quite responsive and super easy to use without compromising any feature that you get on the website. This way you can trade on the go.
Talking about the website, it is as simple as playing ludo that makes it easy for you to focus on trading rather than indulging in complex UI.
A clean homepage makes it even easier for you to operate your account. On the bottom of the screen, you get the option on open and closed trades along with a help chat.
- When it comes to investing your money, the security and reliability of a platform become vital. Being recognized by the international Financial Commission (an organization that secures the interests of investors), Olymp Trade assure you of a safe investment.
- The minimum amount required to start trading on Olymp Trade is as low as $10.
- Training and educational material are offered to each new member to help them start trading.
- Unlawful acts are covered up to $20,000, which is sourced from the Compensation Fund.
So these are the reasons why Olymp Trade is popular among users.
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Features Of Olymp Trade
Here is how Olymp Trade states its features –
⭐️ ABSOLUTE EFFICIENCY
A user-friendly interface and market analytics. Use indicators, technical analysis tools, and trading signals to make winning trades.
⭐️ ALWAYS AVAILABLE
The technical support team operates 24/7. Use a chat service, email, or make a voice call to ask your question and get a prompt answer from our specialist. We care for every client.
⭐️ GUARANTEED SAFETY
Take up a trader’s job with a reliable company. The quality of quotes and financial obligations to clients are guaranteed by certifying companies.
People trust us: hundreds of thousands of Internet users have become Olymp Trade’s clients since 2014.
⭐️ DEMO ACCOUNT
A special trading simulator will help you learn how to trade without risking your funds. All registered users get access to 10 000 currency units on a demo account, which they can always reset.
⭐️ UNIQUE EDUCATION
Webinars and tailor-made strategies for profitable trading. Tips from professional analysts and expert traders. Get invaluable experience for free right from the app.
⭐️ ASSURANCE
Olymp Trade is a category A broker of the international Financial Commission. Membership in the Financial Commission is an honor granted only to reliable, honest companies that have repeatedly demonstrated the high quality of their services.
up to € 20 000 indemnification amount
Types Of Account Offered
Once you are done with demo account, you need to choose one of the two accounts to start investing.
1. Standard Account
You can open a standard account with as low as $10 and start investing with the least amount of $1 and the maximum amount you can trade is $2000.
The minimum withdrawal amount is $10 and the withdrawal process can take up to 3 days.
2. VIP Account
The VIP account is a little costly and you need minimum $2000 to open a VIP account with Olymp Trade.
This account offers some additional features as well. You can trade for as high as $5000 which is limited to $2000 in standard account.
Variety Of Assets
As of now, Olymp Trade offers a huge variety of assets such as –
- 36 currency pairs
- 5 ETFs
- 9 cryptocurrencies
- 1
3 stocks - 6 commodities
- 10 indices
You can choose one or many as per your preference and wish.
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Countries Eligible
Here is an unfortunate thing. What’s that?
You can’t trade on Olymp Trade if you hail from the United States, Europe, Canada, Japan, Australia, UK, Russia, or Israel.
Why?
Well, even I don’t know.
Which countries are eligible?
If you hail from India, Nigeria, South Africa, Pakistan, Thailand, Singapore, Kenya, Indonesia, Malaysia, Ukraine, Vietnam, Brazil, Egypt, Thailand, Vietnam, Philippines, or and Sri Lanka; congrats you are eligible.
Language Preference
To make it easy for the users and reach the larger audience, Olymp Trade is available in the following languages –
- English
- Spanish
- Arabic
- Chinese
- Thai
- Vietnamese
- Portuguese
- Malay
- Indonesian
- Hindi
Deposit
Olymp Trade offers to deposit the amount through various channels
- Credit/Debit cards
- Wire (Bank) transfer
- Electronic Payments System
- Cryptocurrency
You don’t need to pay any commission while depositing and that’s a good thing.
Withdrawal
The minimum withdrawal amount is $10 while the maximum depends upon whether you have a standard account or VIP account.
The withdrawal process may take up to 3 days.
You need to verify your account before you can withdraw the amount.
How To Verify Your Account?
To verify your account, you need –
- A govt-issued ID card such as a passport.
- You need to send a pic of you holding your ID card like this –
- Once you do that, you need to click a pic of the card that you used to deposit the amount and send this pic as well.
- If you have used any electronic payment method such as any wallet, take a screenshot with account details and sent it.
That’ cool. But where to send the documents?
Verification is done using a special form available on the Olymp Trade platform.
How long do you need to wait for the verification?
Well, it can take up to five business days. You will be notified via email for the same.
Final Words - Is It A Scam?
Being a member of FinaCom, it assures you to the next level. Good customer support, a variety of options, easy and smooth UI on apps and websites make it look professional.
I really don’t doubt it to be a scam. It looks safe and has been serving since 2014. In my opinion, it’s trustworthy and you can rely however precaution is always good to have.
This was my honest opinion of Olymp Trade.
Now, it’s your turn. Comment below how is your experience with Olymp Trade? Also, do let me know which app do you use for trading and why?
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