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Does Olymp Trade Really Pay?

Cuklah.com - Olymp Trade is an online trading platform that offers various financial instruments, such as fixed time trades, forex, stocks, commodities, indices, and cryptocurrencies. It was launched in 2014 and is operated by Inlustris Ltd., a company registered in Saint Vincent and the Grenadines. Olymp Trade claims to have over 25,000 active traders every day and more than 370,000,000 processed trades per month.

But is Olymp Trade a reliable and trustworthy broker? How does it compare to other platforms in terms of features, fees, regulation, and customer service? In this review, we will try to answer these questions and provide you with an objective and comprehensive overview of Olymp Trade.

Does Olymp Trade Really Pay?
Does Olymp Trade Really Pay?

Regulation and Security

One of the most important aspects to consider when choosing a broker is its regulation and security. Regulation ensures that the broker follows certain standards and rules to protect the interests of its clients. Security means that the broker uses advanced technology and encryption to safeguard the funds and data of its users.

Olymp Trade is regulated by the International Financial Commission (IFC), an independent organization that provides dispute resolution and compensation for traders. The IFC has categorized Olymp Trade as an A-category member, which means that it has a high level of reliability and trustworthiness. Olymp Trade also has a certificate of compliance from Verify My Trade (VMT), a service that verifies the quality of trade execution.

Olymp Trade uses SSL encryption to protect the communication between its servers and clients. It also has a segregated account system, which means that the clients' funds are kept separate from the company's funds. This ensures that the clients' money is safe even in the event of bankruptcy or insolvency.

Trading Platform and Instruments

Olymp Trade offers a proprietary web-based trading platform that is designed to be user-friendly and intuitive. The platform has a simple and elegant interface that allows traders to access various tools and features with ease. Some of the features include:

  • Chart types: traders can choose from different chart types, such as line, bar, candlestick, Heikin-Ashi, and area.
  • Indicators: traders can use various technical indicators, such as moving averages, Bollinger bands, MACD, RSI, Stochastic, and more.
  • Drawing tools: traders can draw trend lines, Fibonacci retracements, horizontal and vertical lines, and other shapes on the chart.
  • Time frames: traders can switch between different time frames, from 15 seconds to 1 month.
  • Assets: traders can choose from over 100 financial instruments, including currency pairs, stocks, commodities, indices, and cryptocurrencies.
  • Trades: traders can open fixed time trades or forex trades with different expiration times and leverage levels.
  • Orders: traders can place market orders or pending orders with stop loss and take profit levels.
  • History: traders can view their past trades and analyze their performance.
  • News: traders can stay updated with the latest market news and events.

Olymp Trade also has a mobile app for Android and iOS devices, which allows traders to access the platform from anywhere and anytime. The app has all the features of the web platform and is optimized for smaller screens.

Account Types and Fees

Olymp Trade has two types of accounts: standard and VIP. The standard account is suitable for beginners and requires a minimum deposit of $10. The VIP account is for experienced traders and requires a minimum deposit of $2,000. The VIP account offers some additional benefits, such as:

  • Higher profitability: VIP traders can get up to 92% return on fixed time trades and up to 500% return on forex trades.
  • Risk-free trades: VIP traders can get up to 10 risk-free trades per month, which means that they can get their money back if they lose.
  • Personal manager: VIP traders can get a personal manager who can provide them with support and advice.
  • Exclusive strategies: VIP traders can access exclusive trading strategies and webinars from professional analysts.

Olymp Trade does not charge any commissions or fees on deposits or withdrawals. However, it does charge a swap fee for holding forex positions overnight. The swap fee depends on the asset, direction, volume, and duration of the trade.

Olymp Trade also has a demo account that allows traders to practice their skills and test their strategies without risking any real money. The demo account comes with $10,000 virtual funds that can be replenished at any time.

Deposit and Withdrawal Methods

Olymp Trade supports various deposit and withdrawal methods, such as:

  • Credit/debit cards: Visa, Mastercard
  • E-wallets: Skrill, Neteller
  • Cryptocurrencies: Bitcoin
  • Bank transfers

The minimum deposit amount is $10 for standard accounts and $2,000 for VIP accounts. The minimum withdrawal amount is $10 for all accounts. The processing time for deposits is instant for most methods, except for bank transfers which may take up to 5 days. The processing time for withdrawals is up to 24 hours for e-wallets and cryptocurrencies, and up to 5 days for cards and bank transfers.

Customer Service and Education

Olymp Trade has a dedicated customer service team that is available 24/7 via phone, email, live chat, and social media. The team is friendly, professional, and responsive, and can assist traders with any issues or queries they may have.

Olymp Trade also has a comprehensive education section that provides traders with various learning resources, such as:

  • Video tutorials: traders can watch video lessons on various topics, such as how to use the platform, how to trade different assets, how to apply technical analysis, and more.
  • Webinars: traders can join live webinars hosted by expert analysts and learn from their insights and tips.
  • Blog: traders can read articles on the latest market news, trends, and analysis.
  • FAQ: traders can find answers to the most frequently asked questions about Olymp Trade and its services.

Pros and Cons of Olymp Trade

Olymp Trade is a reputable and reliable broker that offers a user-friendly and innovative trading platform with various financial instruments. It has a low minimum deposit requirement, no commissions or fees, and fast deposit and withdrawal processing. It also has a high level of regulation and security, as well as a dedicated customer service and education team.

However, Olymp Trade also has some drawbacks, such as:

  • Limited regulation: Olymp Trade is only regulated by the IFC, which is not a very well-known or authoritative regulator. It does not have licenses from other reputable regulators, such as the FCA or CySEC.
  • Limited assets: Olymp Trade has a relatively small number of assets compared to other brokers. It does not offer some popular instruments, such as ETFs or CFDs.
  • Limited platform: Olymp Trade only has its own proprietary platform, which may not suit some traders who prefer more advanced or customizable platforms, such as MetaTrader 4 or 5.

Conclusion

Olymp Trade is a good choice for traders who are looking for a simple and easy-to-use trading platform with various financial instruments. It is especially suitable for beginners who want to start trading with a low minimum deposit and no commissions or fees. It also offers some benefits for experienced traders who want to upgrade to a VIP account and enjoy higher profitability and risk-free trades.

However, Olymp Trade is not without its flaws. It has limited regulation, limited assets, and limited platform options. Therefore, traders who are looking for more diversity and security may want to consider other brokers that have more licenses, assets, and platforms.

Olymp Trade is not a scam, but it is not the best broker either. It has its strengths and weaknesses, and traders should weigh them carefully before deciding whether to sign up with Olymp Trade or not.

Sumber Referensi

Is Olymp Trade a Scam? Everything You Need to Know!. https://deefunnels.com/is-olymp-trade-a-scam-or-legit-review/

Olymp Trade Reviews | Read Customer Service Reviews of olymptrade.com. https://www.trustpilot.com/review/olymptrade.com

Olymp Trade Reviews - 177 Reviews of Olymptrade.com - Sitejabber. https://www.sitejabber.com/reviews/olymptrade.com

Olymp Trade Review – Is it SCAM or LEGIT broker? - x Binary Options. https://xbinop.com/review/olymptrade/

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