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Olymp Trade Broker Review 2020

FairBinaryOptions Broker Certificate
  • Min. Deposit $10
  • Max. Payout up to 100%
  • Min. Investment $1
  • Mobile Yes
  • Software Proprietary
  • Live Chat Yes

Olymp Trade is a fixed time trade platform since 2014 and as of 2016, a class “A” member of the international Financial Commission, which stands for the quality of the services provided and guarantees each trader deposit insurance, overall support and prompt resolution of issues. Olymp Trade is operated by Inlustris Ltd, Saint Vincent and the Grenadines.Β  Our Olymp Trade broker review aims to provide a clear overview of the available accounts, trading software features, as well as payments-related and customer service information.

  1. Website Preview

  1. OlympTrade Account Features

    Its solid reputation developed over the years has also helped it to expand its client base to over 25,000. Additionally, it ensures that customers are protected up to $20,000. Thus, it is no surprise that the broker has won many awards in the validation of its safety.Β  In 2016, Olymp Trade first won the Le Fonti’s Best Options Trading Platform award. The same year, it was voted the Fastest Growing Broker.

    Olymp Trade App

    Olymp Trade has many interesting trading features. These features are straightforward, ensuring that you will always get the best services, hassle-free. For example, the broker offers two account types: Standard and VIP. The Standard account type has a required minimum deposit of just $10 and a maximum of $2,000 On the other hand, for VIP Account, you need a minimum of $2,000 in the required deposit.

    Also, the Standard Account type has limitations. For instance, it enables its users to withdraw just once per day! The VIP Account type, on the other hand, provides more benefits not available to the Standard account users. It is provided with consultants that are saddled with the responsibility of helping its holders to analyse and understand the market and make smarter trading decisions.

    Olymp Trade Review

    OlympTrade Scam?

    There is no reason to worry about whether this is a scam since it is one of the best fixed time trade brokers. Olymp Trade is arguably the most accessible broker around. With just $10, you can start trading right away on a Standard Account. As a result of this, the broker is open to the patronage of every trader irrespective of the financial capability. And considering the level of investment the broker makes into their education, its users have a high chance of succeeding.

    The minimum investment on Olymp Trade is just $1. That means that with your $10-funded account, you can take about 10 trades. Moreover, traders are given the liberty to choose either the Euro or the USD as the currency of choice of their trading account. However, we think that the broker should also offer its users the flexibility to change their account currency at will.

    Olymp Trade has fared well in the provision of bonuses and analytical tools. The broker offers free tools for analysis such as charts, technical indicators, and economic news via its website. Also, a personal account manager is assigned to you once you open an account. All these combined have helped many of its users to be able to shore up their success rate to as much as 80%!

    Demo Account

    Olymp Trade offers a Demo Account for free, too. It is not the commonly known binary options demo account however a Fixed Time Trade account. The demo account also offers the opportunity for you to test out your trading strategy first in a risk-free environment.This account is funded with $10,000 virtual money that you have access to immediately you register for an account with the broker. Additionally, you get to have access to its huge library of trading strategies, which you can utilise to get better at trading. Please notice that touch options are not available at Olymp Trade but that is OK since they are difficult to win from . It is, however, important you use the demo account first as it will help you get familiar with the trading platform before you start trading live.

    Olymp Trade Academy

    Olymp Trade also has a comprehensive library of the best best binary options education resources called Olymp Trade Academy. However keep in min that it is now called Fixed Time Trades and shouldn’t be mistaken with Those resources are available in both text and audio-visual forms. The only downside is that they are available only for registered users. A FAQ section is attached to serve as a quick source of information about the broker’s operations.

  2. OlympTrade Trading Software

    OlympTrade uses its proprietary platform, and traders can choose among different currency pairs and commodities for trading. Their trading platform is easy to use, with a well-structured layout. Its intuitiveness enables users to easily find their way around it, with a drop-down of the menu always displayed. In addition to the website version, the trading platform also has a mobile equivalent which is offered as Android and iOs. As a result, you can trade anytime, anywhere.

    The platform is equipped with multiple asset classes from which users can pick. However, still, the broker can offer more. There are brokers that offer over a hundred. For example, there are only just about 80 of them altogether. 40 of these are currency pairs, 9 cryptocurrencies, 5 ETFs, 13 stocks, 6 commodities, and 10 indices. Nevertheless, this asset base is modest enough for any trader to explore irrespective of their needs. Olymp Trade no longer offer the binary options 101 course, however you can naturally still invest and secure high performance of itm and otm meaning and results.

    Olymp Trade’s platform also has a functionality, a trading history in the form of a table, with which users can go back to their old trades and analyse them. This tool serves as a mini trading journal that they can use to detect and tweak the flaws in their trading system so that they can improve their odds. It is especially useful for experienced traders, keen on improving their trading performance from time to time.

    Moreover, the broker does have more to offer in the way of fixed time trades it allows its clients to take. For example, for now, it supports only the classic High/Low option trades with a range of 60 seconds to 3 hours expiry time. There are brokers that offer multiple types such as Stays In/Stays Out. However, it is this same feature that makes it a preferred choice for short-term traders.

    Binary Options Trading

    Olymp Trade are as of 2nd April 2020 no longer offering a free online binary option trading course. They instead offer fixed term trades, which you can read more about in our binary trading strategies section. If you are looking for material about binary options robot then Olymp Trade shouldn’t be your preferred broker. If you are from one of the following countries you should check out an alternative broker to OlympTrade in case you have already made an account with Olymp Trade.

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  3. OlympTrade Support Information

    Olymp Trade has a responsive customer support service offered through live chat, email, and phone. The live-chat option is the fastest. It is accessible via the trading platform itself. The service is provided in multiple languages like English, Russia, Polish, and Portuguese. As a result, the broker is able to capture more traders from a wider range of backgrounds.

    Because of the good support and reputation this broker offer, you won’t have to worry about the list of blacklisted brokers.

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  4. OlympTrade Payment Methods

    Olymp Trade supports many methods for depositing and withdrawing.There are QIWI, WebMoney, Yandex, Visa, and MasterCard.Β  However, you should note that the different methods have different processing times.

    Olymp Trade Withdrawal

    In general, within at most 5 days, you will have your withdrawal processed and effected in your account. It is also important you note that the method you use for deposit has to be the same you use for withdrawal. Normally a binary options payout takes 7 days but since Olymp Trade no longer offer binary options the can get it done in 4-5 days.

    Brace yourself for certain bottlenecks whenever you want to withdraw, though. There are instances when the broker requests special authorisation before they process clients’ withdrawals. They could ask for your passport, driver’s license or utility bill. Once the authorisation is confirmed successfully though, your withdrawal is processed immediately.

    Their payments are processed by Wallfort Limited, Cyprus.

     

  5. Your capital is at risk
Inlustris Ltd
OlympTrade is regulated by FinaComOlympTrade
is regulated by
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