Objective Olymp Trade review and user-ratings

Olymp Trade user-ratings: $10
10/10
10 of 10 points 1 reviews
  • Asset varierity - 10/10
    10/10
  • Trading platform - 10/10
    10/10
  • Support - 10/10
    10/10
  • Fees - 10/10
    10/10
  • Deposit/Withdrawal - 10/10
    10/10

Facts about the company:

  • Type: Digital Options and Forex Broker
  • Regulation: FinCom
  • Minimum deposit: $10
  • Demo account: Free
  • Markets: Digital Options, stocks, stock indices, commodities, and currencies
10/10
Comments Rating 10/10 (1 review)

Pros

  • Digital Options and forex
  • 60 underlying from the areas of stocks, stock indices, commodities, and currencies
  • Yield up to 92%+
  • No fees for deposits and withdrawals
  • Free education
  • Fast support 

Cons

  • Headquarters outside EU

 


About Olymp Trade

But first, we would like to give a first overview of the most important facets of Olymp Trade, which we have made in our test. A first look at the overall very clearly structured and well-designed website makes it clear that Olymp Trade is approaching the project with the claim to be more than just a provider for the handling of fixed time trades (Binary Options trading).

As a customer, you have access to extensive educational content. In addition, the broker makes a great effort to always provide the customers with interesting and current information from the world of the stock exchange but also with well-founded analyses. On this basis, the traders here have the best prerequisites to develop step by step into successful traders. For the trading itself, there are around 60 underlying available, divided into the classic categories, i.e. shares, share indices, commodities, currency pairs, and crypto.

Screenshot of the Olymp Trade landing page
Company:Saledo Global LLC
Address:First Floor, First St. Vincent Bank Ltd Building, P.O. Box 1574, James Street, Kingstown, St. Vincent & the Grenadines
Registration number:C 94716 (Malta Agent), HE364695 (Cyprus Agent)
Regulation:The Financial Commission (Finacom Management LTD)
Phone:+357 25030996
E-mail:support-en@olymptrade.com
Live chat:Yes

In our test, we would of course also like to focus on a number of other important aspects. These include, first of all, the trading instruments that can be used in addition to the classic trading of binary options. In this context, an important criterion that will interest many traders is the return that can be achieved in trading. We would also like to take a closer look at the possibility of receiving a bonus in our review, as well as the question of how trading capital can be deposited, how quickly it is available for trading, and how well the payout works. Last but not least, we would then like to look at very practical issues, i.e. the ease of use of the website as well as the competence that can be expected from the support department.

Awarded company

Olymp Trade in check: Fraud or serious?

With the online broker for trading fixed time trades, we have tested a provider that not only presents itself as a reputable company but also implements this in a very practical way. In our research, we found no indication that fraud or rip-offs are part of the business model. On the contrary: in recent years, customers have always been able to rely on the reliable processing of transactions, and the conditions have always been implemented fairly. The same applies to the handling of traders’ capital. Even though Olymp Trade is not subject to any classical regulation in Europe, its seriousness is ensured by its membership in FinCom. In short, with Olymp Trade, traders can rely on a fair, reputable, and reliable partner for trading binary options.

Olymp Trade’s serious approach is also indicated by its close integration into the one institutional context. For example, the provider works with the world’s leading payment providers Visa and MasterCard, which are known for their reputation of their cooperation partners. This is intended to ensure that improper practices do not reflect badly on the companies. For customers, this means a solid level of reliability and security.

Security and regulation at an acceptable level

We always pay special attention to the question of safety in our reviews. The diversity that now exists in the field of online brokers means that different standards are also encountered with regard to security and regulation. Olymp Trade is an online broker with its headquarters in St. Vincent & the Grenadines. Saledo Global LLC, the parent company of Olymp Trade, also has a regular license there.

There is also a licensed location in Cyprus. However, there is no regulation by an EU authority. However, this does not necessarily mean a lower safety standard for traders. The past has shown that the traders of Olymp Trade can rely on a reliable and fair settlement of their transactions. Since 2016, the provider has also been a member of the International Financial Commission (FinCom), an international regulatory authority that ensures compliance with important standards of security and quality. There is also an insurance policy covering up to € 20,000 in the event of trade irregularities. Against this backdrop, customers can therefore rest assured that they are definitely safe from fraud and rip-offs.

See the regulation certificate of Olymp Trade:

Olymp Trade Regulation by the Financial Commission

See the certificate for approved trading technology:

Olymp Trade Approved Trading Technology

The Financial Commission is not only a normal regulator. The authority tests the broker with more than 5,000 orders each month to see how good the trading conditions are. If the standards are met the broker gets a “VerifyMyTrade” certification. You can clearly see that Olymp Trade ist well tested and a proven broker.

Olymp Trade VerifyMyTrade

The homepage has a clear structure

All in all, the provider’s website scores points for its very good user-friendliness and it is available in more than 15 different languages. In addition, however, control through the offer on the homepage and trading via the web-based software is very easy and possible without major start-up problems. To familiarize yourself with the trading functions, you can also use the demo account.

Overview of the offer:

Providers of fixed time trades trading are known for always offering only one clear range of underlying for selection. This is also the case with Olymp Trade. A total of slightly more than 60 underlying from the categories equities, equity indices, currencies, and commodities are available for trading. Olymp Trade also concentrates on the essentials in trading itself, offering only the instrument high/low. However, some special features can be used in trading.

Feature: Offer:
Free demo account: Yes
Minimum deposit:10 €/£/$
Minimum withdrawal: 10 €/£/$
Minimum trade amount: 1 €/£/$
Platforms: Webtrader, App, MetaTrader 4
Financial products: Fixed time trades, Forex, CFDs
Highest yield: 92%+
Support: Phone, Chat, Email
Education: Webinars, Videos, Tutorials, Analysis

Up to 90 percent return with Olymp Trade

The trading of fixed time trades follows an extremely simple principle. In relation to a certain underlying asset, the trader only has to correctly predict the direction in which this asset will develop within a certain time. For such a transaction a certain return is determined. As a maximum return, traders can achieve 90 percent per transaction with Olymp Trade. This means that if the prediction is correct, the stake can be almost doubled. If the prediction does not come true, only the stake is lost. The customers of Olymp Trade do not need to fear an obligation to make additional contributions, as is the case with various other highly speculative variants. However, the yield of 90 percent is only the peak value, which is by no means offered for all transactions. In fact, the returns in average trading are at a level of around 70 percent.

Regardless of the possible yield in each case, different maturities can be selected in trading. Initially, short-term bets on the performance of individual underlying are possible, i.e. with a term of only one minute. In addition, in terms of five minutes, 15 minutes, 30 minutes, and one hour are available. For traders with a somewhat longer-term horizon, there are also maturities of five hours and until the end of the trading day. In addition, a one-week perspective can also be used to bet on the performance of the respective underlying instrument.

60 Underlying assets for trading

Assets with Olymp Trade

As already mentioned, the approximately 60 available underlying are spread across the four classic categories. The traders make a fairly well-structured selection in each case. In the equities section, for example, a number of German stocks can be accessed, such as Siemens, Adidas, or Lufthansa. Other European and international stocks are also available as underlying. Indices are also an important category for many traders of binary options. This allows a much broader market to be covered than is the case with individual shares. Here Olymp Trade offers a selection of the world’s most important stocks, starting with S&P500 and Dow Jones from the USA, EuroStoxs, and DAX from Europe or Hang Seng and Nikkei from Asia.

There is also a decent selection of commodities for binary trading. In addition to the precious metals gold and silver, you can also bet on the performance of copper. In addition, oil, gas, and coffee are also part of the program. The offer is rounded off by underlying from the field of Forex trading. Here the so-called majors are available, i.e. Euro, US Dollar, British Pound, and Japanese Yen. There are also combinations of other dollar currencies and the Swiss franc. All in all, Olymp Trade offers its customers a compact but always well-structured trading offer. As an additional trading function, the option to close a position before the actually agreed term can be used. This allows the trading risk to be effectively limited.

Commodities:

Trade more than 6 different commodities with Olymp Trade. Commodities are a popular investment for traders who like the volatility. From our experience, the yield can be up to 80%.

Stocks:

Olymp Trade offers you to trade stocks from the American Stock Exchanges. You can invest in the biggest companies on the earth. Be careful because stocks can be also very volatile. The yield is between 70% and 90%.

Indices:

Indices show the economic situation of a country because the biggest companies are listed in one index. Trade indices from more than 6 countries. Overall, 11 indices are available with a yield of up to 90%.

ETF:

Olymp Trade has 4 ETFs in its portfolio. An ETF contains a bundle of stocks or other assets. ETFs are popular for long-term investing to diversify their own portfolio.

Currencies (Forex):

Currencies are the most traded assets on the Olymp Trade platform. The yield can be up to 90%. Trade more than 40 different forex pairs. Each pair contains 2 different currencies. The exchange rate is shown on the stock exchange.

Crypto:

Also, cryptocurrencies are available with Olymp Trade. There are 6 different assets. You can trade them 24 hours per day. The yield can be very high. Deposits and withdrawals with cryptocurrencies are possible.

OTC:

OTC means “over the counter”. OTC Assets are available 24 hours per day. It is possible to trade them even if the stock exchange is closed on the weekend. Olymp Trade offers 8 different OTC charts with a high yield up to 90%.

How to open your Olymp Trade account

As mentioned before, Olymp Trade is a very user-friendly platform. You can open your account in a few simple steps. Just use your email address and secure password to open an account. If you go on the website or app of Olymp Trade, click on register and you can start your trading journey.

Olymp Trade registration

After that, you will get direct access to the trading platform. You can start trading immediately. Deposits and withdrawals are possible or you use the free demo account to test the platform.

In addition, you have to verify your account with the demanded documents and information. Since Olymp Trade is a regulated broker, the company has to verify all client’s identity. It is important to do it correctly. The support can help you with that. If you do not verify your account, you can be blocked.

Olymp Trade free demo account

Olymp Trade customers can take advantage of another benefit in the form of a free demo account. This is an account which in principle has all functions, but which is only traded with a virtual stake. In this way, it is possible to approach the trading of fixed time frames carefully at first. Traders can first learn the trading technique and gain experience in how prices react to certain news. In the long run, these features are worth much more than a short-term bonus.

Olymp Trade Demo Account
  • Free and unlimited demo account
  • Learn how to trade
  • Trade without risk
  • Switch between the demo and live account in one second

Olymp Trade account types

Olymp Trade offers different account type levels for traders. You will start with the “starter” status and you can upgrade it to “advanced” and “expert” status. The status is depending on the deposit amount. If you deposit more money you will get the higher account type.

If you have the “advanced” or “expert” status you can profit from higher return rates, risk free trades or reduced commissions in forex trading. Also, you have the chance of better education and strategies. In the table below, we will give you a good overview about the account types:

StarterAdvancedExpert
Rate of return: Up to 82%Up to 84%Upt to 92%
Risk-free trades:NoNo5% of the deposit
Reduced commission:No10% (Forex)20% (Forex)
Funds withdrawal:2 Days1 DayWithin few hours
Max. Trade:$ 2,000$ 3,000$ 5,000
Trading Signals:YesYesSpecial Signals
Personal service:NoYesYes

Olymp Trade Test of the Trading Platform

The following platforms are available with Olymp Trade:

  • WebTrader
  • App
  • MetaTrader 4

The most popular platform is the web trader and app of Olymp Trade. You can trade fixed time trades and forex with it. Also, MetaTrader 4 is offered. This is extern software which can be installed on your computer or smartphone. In the next section, we will go into detail about it.

Webtrader

The web trader is available for any type of browser. You will get direct access to more than 60 markets. It is very easy to use it and Olymp Trade will give every new customer a complete learning tutorial. Learn step by step how to analyse and trade the markets.

On the left side, you can manage your account, see your previous trades, change the settings, and go to all menu points of Olymp Trade. Read the newest analysis and trading signals provided by professional traders or go to the blog.

It is very good that Olymp Trade helps beginners to understand the platform and technique behind it. As a beginner, it should be easy to understand how it works.

For the chart analysis, it is possible to use indicators, drawing tools, or change the chart details. Olymp Trade offers a huge range of tools for analysis. In the picture below you will see how to implement indicators:

After you made an analysis or generate a trading idea you should open the trade. Invest in rising or falling markets with Olymp Trade. It is important to make a forecast and have the right strategy.

How to trade with Olymp Trade:

Now we will discuss how to trade and start investing with Olymp Trade. The following picture and description should make it very clear for you:

First, you have to insert the amount of money you want to invest in one trade. It is possible to start with little as one dollar. The highest amount can be $ 5,000 and is depending on your account type.

Then you have to choose the expiry time of the contract. Fixed time trades are working in a fixed time zone like the name is saying. If the time is over you can measure the result of the trade. The price has to be above or below your strike price (entry point).

Trade long or short on the markets and open the trade with one click. For example, you make a forecast of the EUR/USD and you think it will rise in the future. So you choose an up-trade on the Olymp Trade platform. If the market is rising and above the strike price after the expiry time, you will win a high amount of 70 – 92% yield.


Mobile app and trading with Olymp Trade

In parallel to trading via the web-based software on the desktop, mobile trading is also possible at any time. The corresponding app is available via a download link on the Olymp Trade website. All functions, which the traders know from the actual trading platform, can of course also be used for trading via smartphone.

The mobile app can be used via:

  • Android
  • iOs (Apple)

From our experience, there are all functions possible like on the webtrade of Olymp Trade. In this Olymp Trade review we tested the app and came to the conclusion that it is possible to do professional trading and investing even with the mobile software.

Easy deposits and withdrawals possible

Before starting trading, Olymp Trade also requires that you first deposit sufficient capital into your trading account. In our test of Olymp Trade, we paid special attention to two criteria. On the one hand, we looked into the question of the minimum amount that can be deposited and what methods are available. We found it very positive that a deposit is possible from as little as 10 Euros.

Olymp Trade deposit and withdrawal methods

Olymp Trade payment methods:

  • Credit / Debit Cards
  • JCB
  • Union Pay
  • Neteller
  • Skrill
  • Perfect Money
  • WebMoney
  • Bitcoin
  • Tether
  • Ethereum

So you don’t have to take the full risk right away, but you can start trading with very moderate amounts at first, as stakes are possible from a minimum of just one euro. A number of methods are available for deposits. First of all, it is very easy to transfer money to the trading account with a credit card. Visa and MasterCard are accepted. Olymp Trade also works with a number of online payment providers, including QIWI, Webmoney, Yandex. Money, NETELLER, Skrill, and Fasapay.

Olymp Trade Deposit

And last but not least, the necessary capital can be easily deposited by bank transfer. Fees are not charged by Olymp Trade with any of these methods. However, there are differences with regard to the duration until the money is available for trading. With bank transfers, traders have to wait several days. After less than an hour the money is available for credit card deposits and most e-wallets.

Facts about the payments:

  • Minimum deposit: 10 €/£/$
  • Minimum withdrawal: 10 €/£/$
  • No fees for deposits and withdrawals are charged

The same methods that can be used for deposits are also available for withdrawals. A special area of the online account allows the respective payout to be triggered from a minimum amount of $10 Dollar. Olymp Trade does not charge any fees for this either.


Olymp Trade offers deposit bonus

The market for online brokers is highly competitive and providers are therefore constantly coming up with new ideas to attract new customers. The deposit bonus plays an important role here. With this, the providers not only want to make customers aware of their offer but also motivate them to deposit as much money as possible into their trading account. Many bonus offers are designed in such a way that traders can actually only benefit from them once they have participated in trading as intensively as possible. Since the conditions are not always obvious at first glance, our experience has shown that it is highly recommended to deal with them as thoroughly as possible.

Olymp Trade free deposit bonus

In the case of Olymp Trade, however, customers do not need to worry about such arrangements anyway, as there is currently no special deposit bonus. According to our experience with Olymp Trade, this should not be seen in a negative light. Because for a long-term successful performance as a trader, a deposit bonus is not crucial anyway. It is much more important for the highest possible return on experience, market knowledge, and technical assets. At Olymp Trade, traders have the opportunity to develop these skills and abilities step by step. Courses are offered, trading signals are given and traders are also provided with important news about the traded underlying instruments. Such an offer can also be considered a bonus, even if it is not designated as such.

Facts about the bonus:

  • Free bonus available
  • Up to 100% bonus
  • No restrictions of your trading account
  • You can not withdrawal the bonus
  • But you can earn money with the bonus

Support can convince

A convincing provider also includes competent support. This is also given in the case of Olymp Trade. In our experience, customers have a number of options to have their questions answered. The FAQ area should be used as a starting point. But of course, direct contact is also possible. First of all, inquiries can be sent by email. Olymp Trade assures to take care of the problem and provide an answer within 24 hours. Alternatively, the online chat can be used to solve the problem or to answer questions. All possibilities are available in English as well as in other 8 languages.

Support available: 24/7
Telephone: +27 (21) 1003880 Cape Town, South Africa
+54 (11) 59175747 Buenos Aires, Argentina
+357 25030996 Nicosia, Cyprus
Adress: support-en@olymptrade.com
Languages: More than 8

In addition, Olymp Trade does not offer only normal support. There is a big section for beginners and advanced traders to educate themself in trading. The broker offers webinars, analysis, and video tutorials for every registered client. Also, on Youtube, you will find helpful videos for trading successfully.

Olymp Trade webinars

What you can expect from the Olymp Trade support:

  • Live-Chat support
  • Email support
  • Phone support
  • Webinars
  • Analysis
  • Blog
  • Video tutorials
  • Signals
  • FAQ

In which countries you can use Olymp Trade?

Olymp Trade is an international broker for online investing but you can not use their service in every country. There are some restrictions from the regulator authorities where you need a special license in order to offer a trading service.

Legal countries are:

  • Asia
  • India
  • Indonesia
  • United Arab Emirates
  • Africa
  • Australia
  • China
  • Thailand
  • South Africa
  • Saudi Arabia
  • And many more

Banned countries are:

  • Europe (France, Spain, Germany….)
  • United States of America
  • Canada
  • Japan
  • United Kingdom

Trading hours:

It is possible to trade 24 hours per day with Olymp Trade. The platform is opened 365 days per year. It is important to understand that not every asset is available 24 hours. The opening time of some assets is depending on the stock exchange opening. For example, the forex market is closed on the weekend.

For 24 hour trading, you can use OTC (over the counter) assets and cryptocurrencies. Check out the assets of the platform for more details. In conclusion, we are sure you will always find the right market to trade with.

Conclusion of the Olymp Trade Review:

With Olymp Trade we have tested an online broker for trading fixed time trades and forex, which should meet the taste of many traders. The prerequisite is, however, that the appropriate English language skills are available but you can also use the platform in 8 other languages.

It is possible to trade with slightly more than 60 underlying from the areas of stocks, stock indices, commodities, and currencies. A comprehensive range of trading support is available, including current market information, trading signals, and competent support. The Seychelles-based company is monitored by an international regulatory authority and can be considered absolutely trustworthy. We did not find any signs of fraud or rip-offs during our tests.

Advantages of Olymp Trade:

  • High return of up to 92% for fixed time trades
  • Low commissions in forex trading
  • High leverage up to 1:400
  • MetaTrader 4 support
  • User-friendly app and platform
  • No hidden fees
  • No fees for deposit and withdrawals
  • Free demo account
  • You can start trading with small amounts of money

Most asked questions:

Is there a fee for withdrawing or depositing money?

Funds are generally free of charge when trading with OlympTrade. However, there can appear charges when trading with specific payment options.

How long does it take to process a withdrawal request?

The maximum processing time is 3 days. However, normally the processing time only takes up to 24 hours.

What is the minimum deposit?

OlympTrade is a great platform for beginners as well as professional traders due to the low set minimum deposit of only $ 10.

How is OlympTrade regulated?

OlympTrade is an official company from St. Vincent & the Grenadines. Moreover, the broker is regulated by Fincom. Both regulations are very serious and can be trusted. This makes OlympTrade a reliable broker for assets.

One Response

  1. Andre Witzel September 19, 2020

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