"Olymp Trade": reviews and review of the broker

2024 Author: Howard Calhoun | [email protected]. Last modified: 2023-12-17 10:16

Binary options broker Olymp Trade is a very young company that has recently registered in Cyprus. In this regard, the standards of Olymp Trade, reviews of which are generally positive, comply with strict European legal requirements, and this is a certain sign of reliability.

The financial sectors in Cyprus are controlled by the Cyprus Securities Commission. On the territory of the Russian Federation, the binary options broker Olymp trade is controlled by the Federal Financial Markets Service, and this allows the company to inspire even greater confidence among domestic traders. For this reason, Olymp Trade (binary options), reviews of which have appeared recently, is attracting more and more attention.

Binary options broker Olymp Trade is a subsidiary of financial corporations Frandom Holding Ltd. (Cyprus) and Smartex International Ltd. (Seychelles). Despite the fact that the principles of the broker's activities allow him to be a world-class company, Olymp Trade is focusedto the market of Russian users and novice traders. This is confirmed by the possibility of financial-type transactions with rubles, high-quality Russian-language support and other wonderful little things for Russian citizens.

Olymp Trade: company overview and reviews

Olymp Trade provides good input types, excellent comfort and visibility in direct trading. According to the reviews that have appeared about Olymp Trade (binary options), the main pride of the broker is modern-type trading terminals, which are the best combination of simplicity and functionality. This makes working with binary options extremely easy, and Olymp Trade's customer reviews are wonderful confirmations of this fact. Partially, the comments of traders regarding the work of Olymp Trade (reviews and reviews) provide information that you can master the system and start working within a minute after the registration process has been completed, since the levels are very simple and well visualized, so there are no difficulties even for beginners.

I would also like to say that Olymptrade.com has only positive types of reviews so far. Paying attention to the fact that the company has recently started its activities and does not yet have a sufficient customer base, this indicates the right kind of market entry policy.

How to register in the system?

To start working with the Olymp Trade binary option broker, you need to go to the official website of the company (Olymptrade.com), whereyou will need to enter your installation data in a simple registration form. The form has only a few fields, and it will not be difficult to fill them out, which advantageously distinguishes Olymp Trade from many other brokers from Cyprus. Unlike Olymp Trade, which logs in in a few minutes, its competitors sometimes make them work for half an hour just filling out the questionnaire data.

What should I pay attention to?

The only point that you need to pay more attention to when filling out the registration form on the website of the broker with binary options Olymp Trade is the correctness of the information that the user enters. Otherwise, when trying to work in Olymp Trade, logging in to the system may be difficult. If some of the subtleties are not clear, then it is better to contact the company's managers in advance and find out so that in the future there will be no difficulties with trading and withdrawing funds. If you look at Olymp Trade reviews, then negative comments, where people report that Olymptrade is a scam, are related to a misunderstanding of the functioning of brokers who are forced to comply with European standards and cannot withdraw funds from trading accounts to third party details.

Generally speaking, you need to register a trading account on yourself, correctly indicate personal data, e-mail and a contact phone number that the Olymp Trade manager can call back. In this case, noThere will be no problems when working with this binary options broker, and when working with Olymp Trade, the withdrawal of funds will be carried out without problems.

Trading conditions

Trading with the Olymp Trade binary option is gaining popularity mainly because of the trading conditions that allow many people, who only yesterday dreamed of big earnings, are already making excellent money today. You need to start reviewing the terms of the trading type from the moment that you need only $ 10 for starting capital to start working with binary options. At the same time, brokers support the dollar/ruble exchange rate at 1:35, and this enables traders from Russia to carry out financial activities with 350 rubles! As many reviews written about Olymp Trade show, clients appreciate such approaches on the part of the company, which make it possible to start building their large capital with such a small amount.

The amount of funds for opening trading positions will also please you, as it is possible to activate binary options from $1 if you choose a suitable expiration time (it will be 1–60 minutes). The maximum return on a single trade is 80%. It's all very simple and convenient.

Features

If we talk about underlying assets, there are still very few of them. Traders can manage only eleven financial instruments and one newunusual instrument. This set contains eight currency pairs, between which there are so-called majors and pairs of ruble type instruments - USD/JPY, GPB/USD, EUR/USD, USD/CHF, AUD/USD, USD/RUB, USD/CAD and EUR/RUB. Silver and gold are two other trading instruments.

And you should pay special attention to the 11th instrument of the trading type. It is called Random and Olymp Trade makes it possible to trade it even on weekends when the markets are closed. This is its only advantage. The disadvantages may be the fact that Random is a randomly generated asset, the movements of which cannot be planned using the classical analysis method.

To complete the reviews of trading conditions, it should be noted that Olymp Trade has only one type of live account, but there is also an Olymp Trade demo.

Demo accounts

Since not every binary options broker can offer demo accounts, and many of those who allow you to work on practice accounts force you to first replenish the deposit or fulfill a number of other requirements, Olymp Trade with a personal marketing strategy appears to be very favorable light. The fact is that only after passing the registration form for the client, a demo account of a special type is opened in Olymp Trade, to which the base 10 thousand currency units, that is, US dollars, are credited.

This amount can be used by each client of the broker for development on various financialmarkets. Next, you need to study what binary options are, test different types of strategies, and the like. After considering these points, the trader will have the opportunity to fund the trading account with real money, and after that his status will immediately automatically change from “demo” to “real”. Do not forget that the demo accounts of Olymp Trade fully correspond to the real ones, and no restrictions are imposed on them.

Varieties of binary options

Olymp Trade does not provide its traders with a diverse range of different options. The broker offers only one type - the classic "Put" - "Call". This means that traders are simply required to indicate whether asset values will be higher or lower from current prices until the contract expires.

Besides this, Olymp Trade (Moscow) offers to buy or sell options in the amount of $1–100, which, in combination with offers of only one of their types, every time confirms the broker’s focus on working with novice traders who do not bet large amounts and do not use any of their own strategies. Therefore, they do not need to offer various sophisticated trading approaches that can only confuse the subconscious of beginners.

It should also be noted that although the time of transactions has limits from 1 to 60 minutes, the trader cannot choose any values from them. As short expiration times, only time types of 1 and 5 minutes are available, followed by 15, 30 and 60.

Time costs

It is also necessary that traders be aware that when working on real accounts, when opening options, there is a large type of delay that goes into processing commands. Their time is approximately 5 seconds. In addition, this moment is prescribed in the broker's regulations, so you can be sure that the point is not in the technical equipment of Olymp Trade, but in the very approaches offered by this company.

In general, these types of delays are critical only in two cases - when working in conditions of increased volatility in the markets after the release of some significant news and when using scalping strategies with binary options expiration times of 1 minute. Interestingly, there are no such delays on demo accounts. That is why traders who use trading approaches of the above type need to be very careful when switching to real account types.

Olymp Trade – platform trading type

Olymp Trade trading terminals have many amenities, and it is extremely easy to work with it, since the working windows are not cluttered with various tabs and rows of unnecessary functions. Minimalism can be explained by the lack of other advantages of a binary option, except for the classic options "Put" and "Call", and the variety consists only in the choice of expiration times. That is why the reviews about Olymp Trade (options and conditions are meant) are so positive.

From this it follows that the purchase and sale of options occur without complications and the need to select parameters of various types, which are moreinterfere than provide assistance for novice traders. Reviews of Olymp Trade and in this paragraph emphasize the broker's focus on providing options services, primarily for beginners who want to learn and start a successful business as soon as possible.

In addition, Olymp Trade (petroleum products, etc.) offers the possibility of instant transactions - with a single click, which helps save precious time. This has a positive effect on the results of short-term trading, where unnecessary delays can destroy opportunities for profit.

Training courses from Olymp Trade

The official website of Olymp Trade, located at Olymptrade.com, provides training on the basics of binary options trading. You should not expect anything supernatural from the presented materials, but the rules of work are covered in a very good way, and this will be a useful moment for beginners.

There is enough information to study the specifics of the option and manage Olymp Trade trading terminals. But in order to receive training in more detail with the development of trading strategies, you will need to search for materials elsewhere.

Trading account replenishment

You can reset funds for real-type trading on trading deposits immediately after the registration data entry processes are completed. Since Olymp Trade is used by Russia as the main trading platform, you can replenish your accounts using the usual convenient methods, namely:

• using MasterCard and Visa bank cards;
• through "Yandex. Money";
• from QIWI accounts.

How to withdraw funds?

All deposit replenishment processes are fully automated and take no more than 1 minute. Also, traders are interested in the facts of withdrawing funds. There are discussions about this on the network about who pays from brokers in a normal way, and who does not. It must be said right away that there is no reason to worry here, since it is impossible to find negative feedback about payouts about Olymp Trade.

In addition, when funds are credited, cash bonuses come that can be used in trading using binary options. In order to receive funds from Olymp Trade, certain conditions must be met, since it is impossible to withdraw money within the bonus using the usual method. First you need to trade volume, which will be 25 times the bonus amount.

Are there any restrictions?

Personal funds can be withdrawn without any problems, i.e. in "Olymp Trade" the minimum amount of withdrawal of invested money is not limited. The only factor to consider is the need for account verification. Since the broker is subject to the laws of Europe, confirmation of the identity to which the money is transferred is required. Therefore, Olymp Trade asks to place copies of personal documentation on the site. This must be done once, and then it will be possible to deposit and withdraw money without delay.

Withdrawalshappen in a very fast way. But "Olymp Trade" (a broker of the European type), in order to secure itself in case of various circumstances, set limits on time intervals of 5 working days. This does not mean that the funds will have to wait for a very long time - usually applications are processed throughout the same day. But if, in response to the application, money for some reason does not come out over the next four days, then this should not be a cause for concern under any circumstances.