Olymp Trade has been operational since 2014, and the firm has a reputation for continuing to improve their trading platform with each successive year.
The brand has picked up several awards, including:
- Best Financial Broker at the CPA Life Awards 2017,
- Best Options Broker at the Forex Expo 2017,
- Best Options Trading Platform at Le Fonti 2016
- Fastest Growing Broker at ShowFx World 2016.
As one of the more popular brokers on the market, Olymp Trade offers an easy user interface, great customer service and plenty of options to learn how the markets work.
It’s a platform which is suitable for new users and experienced traders alike, and its high level of daily users is testament to the sort of service provided by the brand.
Olymp is easy to navigate and very user-friendly. The platform looks clean and organized, with links that make it easy to find what you are looking for. You can access Olymp Trade three different ways.
- Their main website
- A desktop application (available for both Windows and Mac)
- Phone application (for both Android and iOS)
Being able to access your trades from anywhere via a phone app is extremely convenient. This is especially considering the site specializes in fast, short-term trades. Their mobile app is responsive and has the same capabilities of the desktop and web version. Put simply, trading from their phones are not missing out.
The Olymp Trade website is very straightforward, showing you exactly what you need to track your trades and be successful. They present a clear, easy to understand trade chart on the main page. You can see the timing and amounts alongside the chart, making it easy to immediately understand. You can also customize the charts by choosing the type of graph and color. On the bottom of the page, there is information on open and closed trades along with a help chat. The design makes it easy for users to see only what they need in a simple and clear presentation.
To fit the needs of their large international market Olymp Trade is available in the following languages:
Olymp Trade does accept traders from regions such as India, Nigeria, South Africa, Pakistan, Thailand, Singapore, Kenya, Indonesia, Malaysia, Ukraine, Vietnam, Brazil, Egypt, Thailand, Vietnam, Philippines, and Sri Lanka. Most countries inside of Asia, Africa, and Latin America are accepted by this broker.
Unfortunately, Olymp Trade does not accept clients from the United States, Europe, Canada, Japan, Australia, UK, Russia, or Israel.
One of the most unique aspects of Olymp Trade is its focus on education for beginner traders. They are adamant about trading not only being for professionals, but as an easily accessible income or hobby for anyone. Their free educational training focuses on teaching strategy-based trading. They help familiarize users with the world of finance and how to think like a trader. Members have access to education in the form of:
- Interactive courses
- Strategies from experienced financial analysts
- Video tutorials and webinars
- They even offer courses tailored towards experienced traders. More advanced classes focus on analyst webinars. These teach essentials such as managing capital and trading strategies for the current market.
Another feature of Olymp Trade that makes it accessible for beginners is their low deposits. The minimum deposit is set at $10, and the minimum trade amount is $1. New traders do not have to worry about losing a large investment. They can make low risk trades until they feel more comfortable.
Olymp Trade accepts deposits via the following methods:
- Credit and debit cards
- Bank wire transfer
- E-payments such as Skrill and Neteller
- Cryptocurrency such as Bitcoin
Depositing is free with no extra charges, with the minimum deposit being $10. This makes the site easily accessible to everyone and a good starting point for beginners. Funds deposit relatively fast, but wire transfers take longer than other methods. Cryptocurrency tends to deposit the fastest.
The maximum withdrawal amount depends on whether you have a VIP or standard account, with the minimum always remaining at $10. Your funds will go back to whatever payment method you used to deposit the money. Both standard and VIP members enjoy fast withdrawal processing times. Withdrawals take 24 hours to 3 days for standard investors. It takes only a few hours for VIP investors.
Olymp Trade offers dedicated smartphone/tablet apps for Android and iOS users alike. These can be easily downloaded by searching for Olymp Trade in the Google Play Store/Apple App Store respectively. Alternatively, Android users can download the official .apk install file directly from the Olymp Trade site.
Both mobile apps are highly rated with their respective app stores. With a responsive design complete with the same capabilities as the web version, traders who are operating from their smartphones certainly aren’t missing out. If anything, mobile traders are given a competitive edge with the Olymp Trade app, as it allows them to make quick decisions on the move.
While it may be a little bit cumbersome trying to take in all the requisite information on a small mobile screen, the good news is that the app does come with all the analysis traders need to make informed decisions. It’s a great tool to be used as a standalone means of trading or in conjunction with the web version of the Olymp Trade platform.
Olymp Trade offers users the chance to test out its platform with a free demo account. This allows users to see if the platform will work for them before they decide to invest real money. Each demo account comes pre-loaded with a balance of £10,000 virtual funds.
This demo account is useful because it allows newcomers to gain an understanding of how trading works, while also allowing experienced traders to review Olymp Trade and get a feel for how the interface functions. All the options in a paid standard account are available in demo mode. To activate a demo account, users simply need to register with an email address, and won’t need to provide any proof of identity unless they decide to register for a paid account.
Entry and Exit of Funds
One of the most important aspects for all investors is the ease with which you can deposit and withdraw funds via a broker. This is even more important for people with limited amounts of money in hand.
Olymp Trade has incorporated a variety of ways in which to deposit and withdraw funds to your brokerage account including Visa, Mastercard, Fasapay, and Skrill. You can even deposit Bitcoin. There is virtually a no wait time for deposits or withdrawals to be processed giving you quick access to your funds and there are absolutely no commissions on deposits or withdrawals.
All investments are subject to risk and Forex, Commodities, and Exchange Traded Funds (ETF) are no exception. New traders with limited experience are especially vulnerable to changes in market conditions but Olymp Trade helps to significantly reduce those risks with built-in systems on its platform. One of the best aspects of Olymp Trade is the leverage and multiplier features. Typically, an investor can use leverage to increase the value of a trade, but they are on the hook for the leveraged amount if they make a loss.
With Olymp Trade’s system, investors are only accountable for their personal stake and Olymp Trade takes the risk with the leveraged amount. This is one of the best parts of the platform as it allows investors to multiply there profits on good trades and minimize their losses when they make a bad trade.
For FOREX trading, Olymp Trade multiplies your trade by 10 allowing a small investor in an asset like Bitcoin to purchase $1000 worth with only $100. This allows for a greater profit on small fluctuations in the market. In this case a 5% increase in the price of Bitcoin would net the investor $50 minus the commissions instead of the $5 they would otherwise have made. These multipliers vary by currency pair, but some give the investor a 500 times multiplier allowing small investors to make significant profits on their positions with only a small risk of capital. This reduced risk leverage is exactly what small investors need when looking to build up their capital.
For example: Investor A enters a position with $100 on the EUR/USD currency pair without a multiplier and Investor B enters the same position with $100 but with the x500 multiplier. If the position improves by 5%, Investor A makes $5 which isn’t a bad return on a short term investment. However, Investor B will make $2500 on the same trade using the same amount of their own capital. Even better is that the Olymp Trade platform tracks the trade so you know exactly what you stand to make in real time. This feature is incredibly useful for investors since it eliminates the need to do calculations on your own and factor in commissions. Olymp Trade does it for you.
You can even set up your trade to automatically sell your asset at a certain profit level using the Take Profit option. In the previously mentioned Bitcoin trade the Olymp Trade Take Profit option will take the commissions into account when it sells the asset for you so that your profit is $50 or close to it. On the flip side, you can set a Stop Loss amount so that if the asset starts to go down, Olymp Trade will automatically sell the asset at a certain level, which can limit your loss significantly.
Unlike with options trading, Olymp Trade Forex does not have a strict timing of transactions, as well as the unavoidable preset closing moment (until it arrives, you may have your finger on a “cancel” button). Here, if your expectations of the asset price change are not fulfilled, you may leave the position open until the price starts moving in the desired direction.
Consequently, both short-term and long-term strategies will work perfectly in Forex trading. Graphics tools and a separate window with a technical analysis are designed to assist you. Importantly, there are no limits on trading on news releases: each transaction opens almost instantly.
To boost financial results, Olymp Trade introduced a “Multiplier” option which increases potential profits up to 200 times. Even though in theory it might also increase your loss in the same proportion, the broker has limited that risk by the amount of your transaction. This made the “Multiplier” feature particularly welcome among the platform users, from the very first days.
Because Olymp Trade focuses on being user-friendly, they keep things simple, clean and easy to use. Whereas you might see a complicated list of accounts ranging from basic to gold, diamond or platinum offered by others, there are three well-managed choices. You can choose between demo, standard and VIP accounts. All of them are easy to sign up to and offer an excellent trading experience.
- Demo Account
The Olymp Trade Demo Account is excellent for those wanting to get used to the platform, all you need to do is register, and you can start using $10,000 of virtual money straight away. Demo accounts are a tried and tested way for first-time traders to get used to trading or for those switching platforms and looking to familiarise themselves with the software.
- Standard Account
You only need a $10 deposit to open a real account offering you access to all the available financial instruments, assets, educational materials and analytical tools. You’ll also have the opportunity to take advantage of returns of up to 82% which is a competitive offering. Maximum trade amounts are very respectable too at $2000 enabling you to trade freely. We love the standard accounts comprehensive benefits and excellent rate of return.
- VIP Account
Aimed at the more experienced trader, the VIP Account offers many exclusive benefits. Maximum trade amounts rise to a massive $5000 as well as the rate of return being boosted up to an unbeaten 92%. The account also has an extensive list of features including everything from the availability of risk-free trades to a personal consultant and private webinars.