Olymp Trade Review 2023: Complete Overview Of The Platform

Olymp Trade is an online trading and investment platform that offers a variety of assets and trading modes, such as Fixed Time, FX and Stocks. 
It was founded in 2014 and has since become an industry leader with over 88 million trader accounts, 30 million monthly transactions and 16 million average monthly payouts. 

Olymp Trade is regulated by the International Financial Commission and has received multiple awards for its excellence, customer support, innovation and mobile trading app. 

They aim to provide a reliable, transparent and accessible trading experience for traders of all levels, from beginners to professionals. 

Start Trading on Olymp Trade

Olymp Trade offers educational tools, demo accounts, personal managers and a blog with market insights and trading tips. 

They are also partners with Ronaldinho, the legendary football player, as its official online trading partner. It is available in 13 languages and supports traders from over 130 countries.

In this updated review in 2023, you will find out a complete overview of this trading platform.

Advantages of Olymp Trade

-    It has a low minimum deposit of $10, which makes it accessible to beginners and small investors.
-    It has a user-friendly and intuitive platform that can be accessed on both mobile and desktop devices. It also supports MetaTrader 4 for advanced traders.
-    It provides extensive training resources, such as webinars, analyst support, economic calendars, blog posts and trading strategies.
-    It offers a wide range of assets, including major currency pairs, indices, commodities, cryptocurrencies and stocks of major companies.
-    Supports multiple languages: The website supports 13 languages, making it convenient for global users to trade.
-    Demo account: If you are new to forex trading, you can start with a demo account and practice using the virtual funds available.

Disadvantages of Olymp Trade

-    It may not be suitable for traders who are looking for super high leverage and tight spreads.
-    It accepts traders from 130 countries, but they don’t accept clients from North America and some European countries. You can check the full list on their website.

Trading on Olymp Trade: Complete Overview

 Click Here to Check Out Olymp Trade Directly!

Olymp Trade offers a variety of assets and trade modes, such as Fixed Time, FX or Stocks. Here are some topics that you might find useful:

Tradeable Assets, Markets, Products and Instruments

Olymp Trade allows you to trade more than 100 assets, including:

1.    Currency Pairs
2.    Stocks
3.    Metals
4.    Indices
5.    Commodities
6.    Crypto
7.    ETF
8.    OTC
9.    Composites

You can choose the assets that suit your preferences and goals, and diversify your portfolio to reduce risks. 

Some of the most popular assets on Olymp Trade are EUR/USD, GBP/USD, USD/JPY, gold, silver, oil, Bitcoin, Ethereum and Tesla.

Trading Platform Interface

The interface is the part of the platform that allows you to interact with the market, place orders, monitor your positions, and manage your account. 
Olymp Trade has a simple and user-friendly interface that is suitable for both beginners and experienced traders. 
The interface consists of four main elements: the chart, the order panel, the trade history, and the menu bar.

Chart

The chart is the central element of the interface, where you can see the price movements of various assets in real time. You can choose from different types of charts, such as line, candlestick, bar, or area. You can also customize the chart by changing the time frame, adding indicators, drawing tools, and trading signals.

Order Panel

The order panel is located on the right side of the chart, where you can place your trades. You can choose from two types of trades: fixed time trades and forex trades. Fixed time trades are contracts that expire after a predetermined period of time, while forex trades are contracts that remain open until you close them manually or they reach a stop loss or take profit level. You can also adjust the amount, leverage, and direction of your trade.

Trade History

The trade history is located at the bottom of the interface, where you can see your past and current trades. You can filter your trade history by date, asset, type, and outcome. You can also view your balance, profit, and loss.

Menu Bar

The menu bar is located at the top of the interface, where you can access various features and settings of the platform. You can switch between different modes, such as demo and real accounts, education and analytics sections, tournaments and promotions, and personal profile and settings.

Olymp Trade has a sleek and intuitive interface that makes trading easy and enjoyable. The interface is designed to provide you with all the necessary tools and information to make informed trading decisions.

Tradeable Time

You can trade on Olymp Trade at any time of the day or night, depending on the availability of the market. Some markets are open 24/7, such as cryptocurrencies and some currency pairs. Other markets have specific opening and closing hours, such as stocks and commodities. You can check the tradeable time of each asset on the platform or on the website. Generally speaking, the best time to trade is when the market is active and volatile, which means more opportunities and movements.

Trading Leverage

Trading leverage is a financial tool that allows you to trade with more money than you have in your account. It works by multiplying your investment by a certain factor, depending on the asset and the market conditions. 

For example, if you have $100 in your account and use a leverage of 1:500, you can open a trade worth $50,000 ($100 x 500 = $50,000).

Olymp Trade offers different levels of leverage for different assets and markets. The maximum leverage is 1:500 for forex and 1:200 for stocks. You can choose the leverage level when you open a trade on the platform. You can also adjust it later by using the multiplier tool.

The multiplier tool allows you to increase or decrease the leverage level for your open trades. You can find it on the right side of the trading interface, next to the stop loss and take profit tools. The stop loss tool allows you to set a price level at which your trade will automatically close if the market goes against you. The take profit tool allows you to set a price level at which your trade will automatically close if the market goes in your favor.

Trading Strategies and Tips for Beginners

Trading requires a combination of skills, knowledge and discipline. You need to have a clear trading plan and follow it consistently. You also need to learn how to analyze the market using technical and fundamental tools, such as indicators, charts, news and events.

Some of the most common trading strategies are trend following, breakout trading, support and resistance trading and scalping. You can find more information and examples of these strategies on the official blog of Olymp Trade. 

Top 8 tips for beginner trades are:

1.    Start with a demo account to practice and learn without risking real money.
2.    Once you start trading with real money, don’t use money you can’t afford to lose.
3.    Set realistic goals and limits for your trading sessions.
4.    Use risk management tools such as stop loss and take profit orders.
5.    Keep a trading journal to track your performance and improve your skills.
6.    Control your emotions.
7.    Learn from your mistakes and successes.
8.    Keep learning and improving your trading knowledge.

Account Statuses

Instead of offering conventional trading accounts, Olymp Trade provides traders with account statuses, each with its own specifications and benefits. 
These statuses are as follows: Starter Account, Advanced Account, and Expert Account.

Starter Account 

The default account type for all traders who register on Olymp Trade. It allows traders to access the basic features of the platform, such as strategies, indicators, educational materials, and a free demo account with 10,000 in virtual currency. A Starter Account also enables traders to make deposits and withdraw profits without commissions using trusted payment methods. The minimum deposit amount for a Starter Account is $10 or equivalent in other currencies.

Advanced Account 

An upgraded account type that offers more benefits and privileges for traders who want to improve their trading skills and results. To get an Advanced Account, traders need to make a one-time deposit of $500 or more. An Advanced Account gives traders access to exclusive features such as risk-free trades, increased profitability rates, personal manager, webinars, and trading signals.

Expert Account 

Also known as VIP, the highest account type on Olymp Trade that provides traders with the most advantages and opportunities. To obtain an Expert Account, traders need to make a one-time deposit of $2,000 or more. An Expert Account grants access to premium features such as private consultations with analysts, secret strategies, priority withdrawal processing, participation in tournaments, and special bonuses.

OlympTrade vs Binomo vs IQ Option: Features Comparison

To make it easier for you to compare the brokers, we have created a table that summarizes the main features of each broker. You can see the table below:

* Binary options are prohibited in EEA

Olymp Trade Around the World

According to the official website of Olymp Trade, the platform has over 88 million registered users from more than 130 countries. The most popular regions are Asia, Africa, Latin America, and the CIS. Here are some of the most popular countries that use Olymp Trade:
1.    India
2.    Brazil
3.    Vietnam
4.    Indonesia
5.    Nigeria

These are some of the most popular countries that use Olymp Trade, but there are many more. 

Olymp Trade Review for India, Pakistan and Nigeria

Olymp Trade is especially popular in India, Pakistan and Nigeria, where it has a large and loyal customer base. According to SimilarWeb, it is among the top 10 most visited websites in these countries in the finance category. Many users from these countries choose Olymp Trade because it provides them with a reliable and convenient way to trade online.

One of the main concerns that users from India, Pakistan and Nigeria may have, is whether Olymp Trade is safe to use. The answer is yes, Olymp Trade is a safe and legitimate platform that complies with international standards and regulations. Olymp Trade is regulated by the International Financial Commission (IFC), which is an independent organization that protects the rights and interests of traders. 

Olymp Trade also has a verification system that requires users to provide proof of identity and address before withdrawing funds. This helps to prevent fraud and money laundering.

Olymp Trade is a popular, safe and trustworthy online trading platform that caters to the needs and preferences of users from India, Pakistan and Nigeria. Olymp Trade offers a wide range of financial instruments, a user-friendly and accessible platform, a high level of security and regulation, and various educational and support resources. 

If you are looking for a way to trade forex or cryptocurrencies from these countries, you may want to give Olymp Trade a try.

Awards Won by Olymp Trade

Olymp Trade has won 16 awards, we will list a few of them:

The first award that Olymp Trade received was in 2016, when it was named the "Best Trading Platform" by Le Fonti. 

The next year, they won two more awards: the "Innovative Broker" by IAFT and the "Best Broker" by ForexExpo. They also became a member of the International

Financial Commission (FinaCom), which provides independent dispute resolution and protection for traders.

In 2018, Olymp Trade continued to receive accolades from the industry. It was awarded the "Best Trading Platform" by TheForeX Awards. 

The most recent award that Olymp Trade received was in 2021, when it was named the "Best Mobile Trading Platform" by World Finance Award. This award acknowledged Olymp Trade's efforts to provide a seamless and convenient trading experience for its users across different devices. Olymp Trade's mobile app offers all the functionality of the web platform, as well as some exclusive features such as push notifications.

Security & Regulation

Olymp Trade is a member of the International Financial Commission (IFC), an independent organization that provides dispute resolution and compensation for traders in case of any issues with the platform. The IFC has awarded Olymp Trade with the highest category of membership, A, which means that traders can receive up to $20,000 in compensation if they have a valid claim against the platform. The IFC also audits Olymp Trade regularly to ensure that it complies with its standards and rules.

Olymp Trade also uses advanced encryption and security protocols to protect its website and mobile app from hackers and unauthorized access. The platform uses SSL (Secure Socket Layer) technology to encrypt all data transfers between the traders and the servers. SSL is a widely used security protocol that ensures that only the intended recipients can read and modify the data. Olymp Trade also uses two-factor authentication (2FA) to verify the identity of its users before allowing them to access their accounts. 2FA is a security feature that requires users to enter a code sent to their phone or email in addition to their password.

Olymp Trade also complies with the anti-money laundering (AML) and know your customer (KYC) policies that are required by many regulators around the world. These policies are designed to prevent illegal activities such as money laundering, fraud, and terrorism financing. Olymp Trade requires its users to verify their identity and address by providing documents such as passport, national ID card, bank statement, or utility bill. This verification process helps ensure that its users are who they claim to be and that they are using legitimate sources of funds.

In conclusion, Olymp Trade is a secure and regulated online trading platform that offers traders peace of mind and confidence when trading on its platform. Olymp Trade has a high level of membership in the IFC, uses state-of-the-art encryption and security protocols, and follows strict AML and KYC policies. These features make Olymp Trade one of the most trustworthy and reliable online trading platforms in 2023.

Deposit & Withdrawal Options, Time, Fees

One of the important aspects of any online trading platform is how easy and convenient it is to deposit and withdraw funds. Olymp Trade offers a variety of payment methods for its users, such as bank cards, e-wallets, online banking, and cryptocurrencies. 
Here are some details about each option:

1.    Bank cards: You can use Visa or Mastercard to deposit and withdraw funds from Olymp Trade. The minimum amount for both transactions is $10 or equivalent in your currency. The processing time is usually instant for deposits and up to 5 days for withdrawals. There are no commissions or fees charged for using bank cards.

2.    E-wallets: You can also use popular e-wallets like Skrill, Neteller, Perfect Money, UnionPay, and others to fund your account and cash out your profits. The minimum amount and processing time are similar to bank cards. E-wallets are recommended as they are faster and more secure than other methods.

3.    Online banking: If you prefer to use your bank account directly, you can use online banking services like Help2Pay, DragonPay, NganLuong, and others to deposit and withdraw funds from Olymp Trade. The minimum amount is $10 for both transactions and the processing time is usually instant for deposits and up to 24 hours for withdrawals. There are no commissions or fees charged for using online banking.

4.    Cryptocurrencies: You can also use Bitcoin, Ethereum, Tether, and other cryptocurrencies to trade on Olymp Trade. The minimum amount for deposits and withdrawals is $10 or equivalent in your crypto wallet. The processing time depends on the network speed of the cryptocurrency you choose. There are no commissions or fees charged for using cryptocurrencies.

You can choose the method that suits your preferences and needs best. However, you should also be aware of some rules and conditions that apply to all transactions:
-    You must use the same payment method for deposits and withdrawals. For example, if you deposit with Skrill, you must withdraw with Skrill as well.
-    You must verify your identity and payment method before making a withdrawal request. This is done to ensure the security of your funds and prevent fraud.
-    You must comply with the anti-money laundering policy and provide proof of the source of your funds if requested.
-    You must not use third-party payment methods or accounts that do not belong to you.

By following these rules and conditions, you can enjoy a smooth and hassle-free experience of depositing and withdrawing funds from Olymp Trade.

Customer Support 

One of the most important aspects of any trading platform is the customer support. 

How easy is it to contact the support team, and how helpful are they in resolving issues? 

Olymp Trade offers several ways to reach out to their customer support:

Live Chat
You can use the live chat feature on their website or app, which is available 24/7 in multiple languages. 

Email
You can also send an email to support-en@olymptrade.com 

Phone Number
Call their phone number +35620341634. 

Contact Form
Alternatively, you can fill out a contact form on their website or visit their help center for FAQs and tutorials.
According to user reviews, Olymp Trade has a responsive and professional customer support team. They are able to answer questions and solve problems quickly and efficiently. 

Trading Education

Olymp Trade offers a variety of resources to help traders learn and improve their skills, whether they are beginners or advanced traders.
Some of the educational content that Olymp Trade provides are:

-    Video lessons: Official YouTube channel has around 1,000 videos from traders and analysts offering a wealth of information. You can watch videos on topics such as trading strategies, technical and fundamental analysis, money management, trading psychology, and more. You can also find video courses on specific instruments such as forex, stocks, and crypto.

-    Blog articles: Official blog is the source of useful information for traders from beginners to experts. The blog covers the latest market news, trading tips and lifehacks, blog articles on trading strategies and instruments, user-generated content, interviews with traders, and much more relevant and helpful info.

-    Interactive articles: Olymp Trade also offers high quality interactive articles that allow you to learn by doing. You can test your knowledge with quizzes, practice trading with simulations, and explore different aspects of trading with interactive charts and graphs. These articles are designed to make learning fun and engaging.

-    Demo account: Free, replenishable demo account allows traders to practice strategies using trading tools and money management strategies without risking real money. Practice making profits while keeping your real money safe.

Olymp Trade Mobile App

The app allows traders to access the platform from anywhere and at any time, as long as they have an internet connection. The app is compatible with both Android and iOS devices, and it has a user-friendly interface that is easy to navigate.

The app has all the functions and tools that are available on the web version of the platform, such as indicators, charts, trading history, and more. The app also has some exclusive features that are not found on the web version, such as push notifications and biometric authentication.

Push Notifications
This feature enables traders to receive alerts on their phones when certain events occur, such as price changes, news updates, or trade outcomes. This way, traders can stay informed and react quickly to market fluctuations.

Biometric Authentication

The biometric authentication feature adds an extra layer of security to the app, as it requires traders to use their fingerprint or face recognition to access their accounts. This prevents unauthorized access and protects traders' personal and financial information.

Commonly Asked Questions

Does Olymp Trade give real money?

Yes, Olymp Trade gives real money to its users who trade successfully on the platform. At the moment, they payout their traders in total $16 million, and the average monthly trading turnover is $211 million. Users can withdraw their profits through various methods, such as bank cards, e-wallets, or cryptocurrencies. The withdrawal process is usually fast.

Is Olymp Trade gambling?

No, Olymp Trade is not gambling. It is a form of online trading and investing that requires skill, knowledge, and strategy. Users can analyze the market trends, use technical indicators, and apply trading strategies to make informed decisions. 

Is Olymp Trade risk-free?

No, trading on any platform is not risk-free. Trading and investing involve risks of losing money due to market fluctuations, volatility, and unpredictability. Users should only trade with money they can afford to lose and never invest more than they are willing to risk. 

Can you hold investments in Olymp Trade?

Yes, you can hold investments for as long as you want. Olymp Trade offers two modes of trading: fixed time and FX. In fixed time mode, you can choose the expiration time of your trades from 1 minute to 23 hours. In FX mode, you can keep your trades open indefinitely until you close them manually or by using stop loss or take profit orders.

Does Olymp Trade require ID verification?
Yes, Olymp Trade requires ID verification for security reasons and to comply with anti-money laundering regulations. Users need to provide proof of identity (such as passport or national ID card) and proof of address (such as utility bill or bank statement) to verify their accounts and withdraw their funds. The verification process is usually simple and fast.

For the demo account, this is not necessary.

Who owns Olymp Trade?

Olymp Trade is owned by Saledo Global LLC, a company registered in St. Vincent & the Grenadines. 

Who is the CEO of Olymp Trade?

The CEO of Olymp Trade is Roman Fomin, according to LinkedIn.

Conclusions of the Review

In this article, we have reviewed Olymp Trade, one of the most popular online trading platforms in the world. We have looked at its features, advantages, disadvantages, and how it compares to other brokers. We have also shared some tips and strategies on how to trade successfully.

Now, you might be wondering: is Olymp Trade a scam or a legit broker? 

The answer is simple: Olymp Trade is not a scam. It is a reliable and trustworthy broker that has been operating since 2014. It has millions of satisfied customers from over 30 countries who trade on its platform every day. It has a rating of 4.48 stars from 163 reviews on Sitejabber, and positive feedback on Trustpilot and FPA. 

Check It Out, Try Risk Free Demo Account Trading!

Disclaimer : The above is a sponsored post, the views expressed are those of the sponsor/author and do not represent the stand and views of Outlook Editorial.