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Olymp trade is popular online trading in the industry. There are more than 50,000 clients who trade every day.
As among the popular brokers you can find in the market, this type of trade provides you with excellent customer service, numerous options, and an easy-to-use user interface.
An advantage of trading at Olymp Trade is because it offers you bonuses. However, there is no disclosed information on the withdrawal conditions under the service agreement. But, the EU banned trading bonuses because they come with additional clauses attached and withdrawal conditions.
Additionally, this platform suits both new and experienced traders. With the high level of many users that use this trading platform daily, there are essential tips of Olymp trade to learn at https://day-traders.net/olymp-trade/.
Features of Olymp Trade
Trading Platform
The Olymp Trade has an easy to navigate platform, providing you with the best user interface. An added advantage of this platform is that it is clean, well organized, and features links, thus easy for you to locate what you want.
When accessing this Olymp Trade platform, you can use desktop applications ( both Mac and Windows), smartphone or tablet app ( both iOS and Android), or through the web.
The best way to access the Olymp Trade platform is through its website. That’s because it is straightforward, and you can get what you need. It not only helps you trade successfully but also track your trades.
For a proper understanding of Olymp Trade, in the platform, there are clear and concise charts featuring amounts and timing. So, you can go through and understand everything you’re looking for.
You can also customize the charts using color and graph type. And at the bottom, there is more information on open or closed trades, chat and help function. With the design, it exceptionally helps you find all you need simply.
Fees
Olymp Trade differs from other platforms because it provides you with a fixed rate. The rate is limited to 15%, depending on your investment amount.
However, depending on your account type, Olymp Trade does not charge you custodial fees or maintenance fees, or inactivity fees for not using within 180 days.
Moreover, it will charge you a fee for each trade but based on current market conditions, specification conditions, multiplier, and trade amount.
Assets/Markets
If you want to trade on Olymp Trade, it provides you with different instruments depending on your location. And they include:
- Spread and commissions
- Commodities
- Stocks
- Currencies
- ETFs
- Cryptocurrency
Before starting to trade with real money, you learn with a demo account first. However, the benchmark EUR/USD currency spread at approximately 1.1. Therefore, it makes this platform the most competitive broker you’ll find in the marketplace.
On the other hand, Spreads vary depending on your account. If you have a premium account, it will offer you the lowest spreads.
Nevertheless, even having a standard account, the spreads there are competitive and liable to increase or decline depending on market conditions.
Leverage
On Olymp Trade, leverages are variable depending on trade types you want to consider. However, the website promises you attractive leverages of 1:400. Considering popular forex pairs – EURUSD – the leverage is at 1:30. But for minor pairs such as EUROLN, EURNOK, AUDCAD, USDSGD, and NZDUSD leverages at 1:20.
Payment Methods
When you want to trade with Olymp Trade, you have different choices to consider for depositing and withdrawing options. The method you use to deposit your money is the one you can use to withdraw. Therefore, this is a standard practice used in the industry and aims at preventing money laundering.
Deposits
If you want to deposit money in your account, there are different methods to consider and include:
- Bank transfer
- Credit/debit card
- Skrill
- Cryptocurrency
- Neteller
For most payments, your money will be processed instantly, but with bank transfer, it will take longer. The advantage of deposits is that no fee is charged. However, the bank, on the other hand, will charge you for transferring funds.
Withdrawals
If you want to withdraw your profits, the process is fast, and you have to use the same method you used while depositing. For most withdrawals, they are processed to your account on the same day. But with bank transfer, you might have to wait for three working days.
Regulation & Licensing
It is essential to look for the regulation and licensing of a broker. Choose a platform that has been regulated by relevant bodies. Fortunately, trading at Olymp Trade is safe and secure. It has been regulated by IFC, which is headquartered in St. Vincent.
Some time back, there were concerns regarding the legitimacy of IFC, which made different users question the legitimacy of the Olymp Trade. That’s because your money will be safe from choosing a safe broker that has been regulated by ASIC, CySEC, or FCA.
Demo Account
With Olymp Trade, you have a chance to test the platform with its demo account. And that helps you know whether the platform works for you before you start to invest. In each demo, it has been pre-loaded with £10,000 virtual funds.
The reason why a demo is essential is that it allows you to understand how to trade. If you’re experienced, you can review Olymp Trade using a demo account to feel the interfaces.
An advantage of a demo account is that all options available are also present in a standard paid account. If you want to activate your demo account, use your email address to register without providing your identity unless you opt for a paid account.
The Bottom Line
If you’re an experienced investor, you’re likely to be disappointed by lacking assets and trading options. Fortunately, Olymp Trade is a convenient option because you can trade with your smartphone device as it has the option. Moreover, the platform has been appropriately designed with an interface suitable for all users.
The downside of this platform is limited options. As a newbie who wants to trade, you will find it intimidating. But with low deposit requirements, uncluttered and straightforward design, it is attractive for all who wish to trade.
