Is Olymp Trade a Legitimate Platform or a Scam In Year 2020!

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Contents

Olymptrade – Legitimate Platform or a Scam?

OlympTrade is a trading platform that is designed for all types of investors and traders in mind, from the experienced investors to individuals who want to get a taste of the market. Today, it’s considered as one of the leading trading platforms, allowing its members to get engaged with options trading and forex trading.

As a leading trading platform, OlympTrade provides the market with a one-stop hub for trading, complete with easy-to-understand trading tools and resources that are easy to follow and understand. In an effort to position its brand as one of the leading trading platforms, OlympTrade strives to provide the best trading experience, and at the same time helping its members (traders) get the right skills and boost their income along the way.

OlympTrade real reviews: Is it a scam?

OlympTrade is, of course, widely reviewed online, and majority of these reviews are positive. Our team managed to check and read some of the reviews posted in the top websites and community forums in different parts of the world including Russia, Brazil and United Kingdom.

And based on our casual reviews, we found out that this platform is easy to use, offering its members with friendly services, especially when it comes to funding and withdrawing from accounts. Some reviewers also noted the ability of the platform to allow customers to earn up to 90 percent profit on each profitable trade. In all reviews, customers and traders are one in saying that Olymp Trade offers a satisfying platform for trades.

Broker Bonus Min Deposit Payout Review Open Account
FREE DEMO ACCOUNT $ 10 82 % for Standard, 90 % for VIP accounts* Review Trade Now!

Negative trader reviews:

This trading platform ha also, naturally, received a number of negative reviews and feedback from verified customers. According to some reviews that are posted online, the trading platform is a scam, and will not allow its members to withdraw their funds. However, according to other people, common sense and our examination, these are empty accusations that can all be simply explained below.

Issue No. 1: Customers cannot withdraw their money.

Withdrawal is subject to certain conditions as explained by the following:

  • Customers are advised to verify their identities within a few days of registration and before depositing money.
  • The wagering requirements must be met, if the trader accepts to receive the trading bonus. The wagering requirements are set at x30 the bonus amount.

If these conditions are not met, then the withdrawal of the bonus funds will not be allowed. However, both of the reasons for canceling a withdrawal mentioned above are the same with all brokers in the world. Because of regulations, you are required to verify your identity with ALL brokers. In case you face the same problems, then it’s highly recommended to coordinate with Customer Support.

Issue No. 2: Customers are losing their money

Keep in mind that binary trading is all about risks, and there’s a big chance that you will lose money when you engage in this business. If you want to take the risk, then it’s better to be prepared. One thing that you can do is to try first the demo version of the trading platform before trading for real money.

It’s the nature of trading. Some people make money while the others lose. This is not a reason for calling a broker out. That’s why we always recommend trading on the demo account first, before depositing any real money. Also, keep learning about trading.

After all: Is Optiontrade a Legitimate Trading Platform?

Based on the assessment of the services and business practices, we can say that Olymptrade is not a scam. If indeed this was scamming company, then the most established and experienced investors and traders would have left the platform. Also, they could have left the most painful negative reviews for the trading platform. Based on available evidence and details, it seems that this trading platform offers a legitimate trading opportunity. The website offers transparency, and interested customers and traders can easily know and verify the services, starting from money management to order placement.

How to verify account at OlympTrade?

If you are from Nigeria, India, Pakistan, UK, wherever, the process of verification is the same for everybody on this planet. We are getting more and more questions about “how to verify my account”, “what documents do they want” etc… Please read this below carefully and keep in mind, that the process of verification is still the same and same for everybody, so you don’t need to worry about anything! Let’s go.

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So to complete the verification (to withdraw your money) you need to send these documents:

  1. A photo where you hold your passport/ID card in expanded form and where they can see your face and the details in the passport/ID. It’s like a selfie with an appropriate document – nothing more. Note that the photo must be from your shoulders up and it must be easily seen (no blurry). Like on the image below.
  2. Then you need to send them also the photo/scan of the appropriate document that you want to use – ID or passport.
  3. If you used for the deposit a credit card, you also need to send photo/scan of the card from which the payment was made. On the card, the first 6 and last 4 digits, name and surname must be seeable. The validity of the card and the rest of digits can’t be seeable (cover it). The reverse side of the card doesn’t need to be present (they don’t need it).
  4. If you used for the deposit an electronic wallets – A photo/screenshot of the personal electronic purse (Skrill for example) need to be also sent (screen the detail of your account). The information you need to provide is – the picture of number, owner’s name, and the second photo/screenshot must be of that right money transfer (that one your transferred money to OlympTrade).

Where to send the documents?

Upon receipt of the verification request, all the necessary documents must be sent to the e-mail – [email protected] together with the login (the login is the email address) you put during registration.

How long does verification take? Processing of the documents takes up to five business days. And the result of the document verification you will find on your email because you will receive an email with notification about the result.

That’s it – If you need to help with the verification, let us know and we will try to help you.

Corporate Information

OlympTrade is a legitimate and licensed broker which is recognized by the Financial Commission. As part of the commission, each trading account has insurance for $20,000. This trading platform is owned and operated by Wallfort Limited and the Inlustris Ltd, with the following mailing address:

  • Inlustris Ltd
    • Registration No.: 25161 IBC 2020. Registered Address: James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building, Saint Vincent and the Grenadines.
  • Wallfort Limited
    • Registration number HE364695. Headquartered in Irodi Attikou 8A, Lakatamia, 2332, Nicosia, Cyprus.

More info about OlympTrade

Author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

202 Responses to “Olymptrade – Legitimate Platform or a Scam?”

This is very important to complete verification in time. Not only for the sake of bonuses from Olymp Trade (which is indeed very motivating factor by itself) but in order to avoid issues with your account in future. You can forget to complete the verification and you will only remember about it when you try to complete the withdrawal. Broker has the right to lock your account in this case until your verification is completed. Sure enough you’ll be able to unlock it by providing all the paperwork. But agree, this is much easier to do it all at once. This is not just Olymp’s requirement. Its anti money laundry legislation that we all have to obey.

I live in Ghana, West Africa. Can I trade with Olymp Trade? And do you have clients from Ghana, West Africa who I can contact?

IS THIS WORKING IN BOTSWANA
HOW MANY OF THEM HAS SUCCEDED

Please my administrator.this is my first time to deposit money in my real account.am in nigeria.i use fcmb Visa card it keep on saying transation declined.i tried to use Netterler and Skrill still it can not work.please I want to no whether the fault is from my fcmb bank or from my olumpic account.

Hi, Does Olym Trade work in Somalia? if yes, can i withdraw from my account here?

Good guys please I really want to trade Olympic trade on MT4. Does Olymp trade have that?

Unfortunately, they don’t. But you can still open MT4 and analyse the markets there. Then, when you see a good trade opportunity, just open the trading platform in a new window and open the trade.

please what is the minimum withdrawal

Hi Jinadu, There should be no minimum withdrawal as long as you want to withdraw more than the fees – the fees vary in each country and for each method, so I cant tell you the exact number.

Please, how much is the bonus on $10 deposit ?

Could you please enlighten me on the depositing options of this broker? More particularly, do they differ for specific countries, or not? The point is, I’ve heard one can top up the account with bitcoins, and yet there’s no such option in my personal account.

I’m from Nigeria,
What exactly do I need to verify my account.
If I want to start trading

i got a feeling the platform is working against me delebaratly,

I trade on olymptrade, I requested for a withdrawal of 20$, 10$ was sent to me and they told me the next 10$ has being processed and will be sent to me the next working days. Why can’t my money be sent whole. I need answers please

Dear Emmanuel, I think the problem is that you only deposited 10 dollars with your card. The way it works is that the broker can only return the amount of the deposit to your card – not more. The rest has to be sent in a different way – through an eWallet or WireTransfer maybe.

I am facing the same problem, although olymptrade only deposited $20 to my account instead of $36 but now theres no balance left to tranfer to the e wallet please assist

I have a question regarding the bonus you are getting while depositing for the first time. Is it true, that even if I lose the money I deposited? So if I make 1000 dollars deposit, I will get another 1000 dollars as a bonus, and then I lose 1000 dollars in deals I will still have that 1000 on my account? And I will be able to trade this money but don’t withdraw? And when I start to get the income, will I be able to withdraw all the profit?

olymp trade is a big scam,there demo trade is completely different from what you see on live trade..you needed to see what the platform was doing immidiately they got me as client in there cage.i took time to compare the live and demo but its all fake people.i understand onlin trading very well ..my demo was wonderful.coming to live jesus its nothing to right home about.there is nothing anyone will tell me about them.i entered a trade in live ,a selling ,market same time as in my demo also,demo turn out well while live start illegal shaking at the end of the day my live came out losee.
they are criminalsssssssssssssssssssss

Thank you for sharing your experience, we hope it will be useful for other traders.

Iam from Nigeria, i don’t know if Olympic trade work in my country

you will find all information about IQ Option in Nigeria in this article – https://xbinop.com/does-olymptrade-broker-accept-nigerian-traders/

In case you need more info, let us know.

Have a nice day.

Hi, I just want to ask if we can upload our verification documents on the platform upon registration instead of sending our documents to an emails. And beside. Is it save to send our sensitive documents to an email I?

Samuel, yes, please go to your account and upload documents there – do not send it over email.

I have account but I ask olymptrade they said my account doesn’t need any verification so am afraid

In most cases, the verification is done during the first withdrawal. When you request a withdrawal for the first time with an unverified account, you shall receive an electronic letter through your email asking you to submit documents for account verification.

Have a nice day.

Can I submit only my bank statement as my document

Hello, it’s one of the documents, you need more of them.

As it’s written in the OlympTrade review.

Have a nice day.

I just deposited into my live account.And I have traded and I withdrew my profit,but they said I should expect the money in the next five working days.
I need your help because the money has been deducted.

did you get your money, or not?

Let us know, thank you.

Is it possible to use olymptrade here in Zambia?
Thanks.

Dear Sifaya, I think it’s not possible. But go ahead and try IQ Option, they should accept Zambian traders as far as I know. If they don’t let us know! ��

can u also deposit through paypal

No, unfortunately, as far as I know, PayPal is not supported.

It’s more than a year that I’ve been trading with Olymp Trade, and generally I’m satisfied. Making deposits and withdrawing money to the e-wallet is quute convenient, plus, the platform itself is totally user-friendly. In the near future, I’m planning to upgrade my account to VIP. I’ve already received profit on the first deposit, so I need to add just a couple hundred dollars to gather the necessary amount. I read that VIPs get the payout rate of as much as 90%. I wonder how many assets does this relate to, or is it just the EUR/USD currency pair?

Hi, does this olymptrade broker require a certain amount deposit of registration or is it free? And what is it all about I mean what is to be traded?

Dear Kay, the minimum deposit required is 10 US dollars and the min trade amount is 1 US dollar. You don’t need to deposit if you only want to trade on demo account.

Please in all your explanations above, did someone needs to send all the verification before depositing or after depositing and I Want to ask if OlympTrade has just only one app or they has many cause some may be scam and some may be real

Dear Samuel, it depends on your country. Sometimes you need to send documents before depositing, but some times after doing so. But be assured it’s safe and they won’t use it for anything bad. I have personally sent documents to more than 10 broker in the past 5 years and have never had any problem.

Is it advisable to deposit with btc in olymptrade

Akpituren, yes you can do it and there is no problem, just like with other deposit methods.

Hello please I need more guide to verify my account can you help me am from Nigeria

Hello, read more about binary options trading in Nigeria here – https://xbinop.com/does-olymptrade-broker-accept-nigerian-traders/ if you will need more info, let us know. Have a nice day.

J. Pro, I wanna know the maximum withdrawal amount in Nigeria at a go.

Hello, the maximum withdrawal amount is limited only by your bank or e-wallet. The verification procedure does not depend on the amount of withdrawal.

Let us know, if you need more help.

Is it a must we scan an energy bill because I don’t make those kind of payment directly that’s the job of my landlord

Bobby, you don’t have to do that. If you have a bank account you can simply scan the bank receipt with your address.

Hello, if you don’t have an energy or phone bill I guess that you can use a bank account statement. Have a nice day.

Thanks J. pro for your comments so far
Talking about account confirmation, must the name on the utility bill/ electric bill corresponds with my name? If yes, what should i do, because am not staying in my own house, the name on my electric bill is not bearing my name.

Collins, if you can’t use utility/electric bill, you can use the bank account statement which contains your address – that’s the easiest way.

should I send a picture of my credit card to the e-mail address during verification before depositing money?

Yes, but cover the middle 8 numbers! If you don’t, it’s dangerous and you could get scammed.

I am a Nigerian, please I want to know if I can withdraw to my naira debit card if I use it to fund my olymptrade account. Thank you.

Pladayo, as we mention in our article OlympTrade Nigeria, it shoudld be possible to use the Naira card to both deposit and to withdrawal afterwards.

thks for ur review on this trading platform… I have few questions.. 1st of all.. hw long can one trade before he start withdrawing.

2nd, is there any commission charge at the point of withdrawer?

3rd, what are the disadvantages of receiving bonus while depositing…

lastly, if I deposited thru the mobile app, who is my broker. thks

Bolaji, thanks for your questions. You should be able to withdraw even on the same day as you deposit – no problem. The withdraw fees vary and depend on your country and the method you use for withdrawal. Wire transfers have a fee for sure, but withdrawals to e-wallets like Skrill should be free. I do not recommend the bonus feature, because according to the terms and conditions, if you accept a bonus of (for example) 100 USD, you will have to make trades in the total value of 4 000 USD in order to be able to withdraw your money.

A highly innovative company Olimp Trade is constantly inventing various things to provide its customers with profit. Only at the moment there are at least 3 options that will prevent a trader from loosing money. Stop out is my favourite. It will close a deal automatically if the price of the asset begins to decrease after purchase.

pls what type of passport can one use particularlly

Olymp Trade Review – Is it SCAM or LEGIT broker?

OlympTrade

  • Great customizable platform
  • Low minimal deposit
  • Beginner friendly
  • Free demo account

OlympTrade platform is a popular online trading platform, and has been serving customers since 2020. But what makes Olymp platform a reliable choice for many investors out there? There are a number of reasons why Olymp Trade is the choice platform of many informed and experienced investors out there.

  1. Security and reliability of the platform. As a leading investing platform online, Olymp Trade is considered an A-recognized member of international Financial Commission, an organization that secures the interests of investors. Since the trading platform is a member of this organization, unlawful acts are covered up to $20,000, which is sourced from the Compensation Fund.
  2. Minimum amount required to start investments. The minimum amount to deposit to start trading on this platform is $10. This means that almost anyone can join the platform and become a trader.
  3. Easy access to training and educational materials. The training and helpful resources are open to all members of this trading platform.

These are just the reasons why it’s this platform is popular among many investors, beginners included. I think that OlympTrade works the same way as IQ Option – profesional, reliable and real trading. If you are still interested as to why this platform is highly recommended, then we suggest that you read this OlympTrade review.

OlympTrade’s professional trading platform

Compared to other investing platforms out in the market (such as Binomo‘s), the Olymp Trade is a customized platform that was designed by experienced programmers, traders and financial analysts. The team also continually improves on its services, so customers can count on a platform that is working 24/7. The ability to customize is actually one of the best selling points of this platform. For example:

  • You can choose how the charts are shown, for example it can be displayed as a line chart, candlesticks or using Heiken Ashi
  • Vary the colors of the chart

This is what you will see right after logging for the first time – Demo account ready to go!

Aside from the visual effects of the charts, the technical settings can be configured as well:

  • Change the time frame from 25 seconds to 1 month when using the area chart, and change from 15 seconds to 60 minutes when using the Heiken Ashi or Japanese candlesticks
  • Use oscillators and indicators for accurate reading of the charts

Special Features of Olymp Trade

Olymp Trade is considered a trading system that makes use of an online trading platform. The features and functionality offered respond to the needs of the customers, and most of these features will generally appeal to investors who are just starting out. Compared to other popular platforms in the market, Olymp Trade provides free registration, and all new members and investors are given 10,000 credits. The free credits can be used by the new member to try out the system and investing platform. Through the use of the demo account, customers can explore their trading skills and try out a few more strategies before trading for real money. The only thing an investor may notice is the absence of incentives. Instead of the usual perks, Olymp Trade provides low investments and starting trade.

OlympTrade Offers a Demo Account

It should be kept in mind that the platform also provides customers with a free demo, with 10,000 virtual dollars and this is given to the customer as soon as the account has been made. The free demo capability of this platform is welcome news for the beginners since they can try out a few trades. Also, there is no time limit to consider when using the free demo. Investors and customers of this platform can practice all they want without having the need to risk the money.

Trading Terms Customers Should Know

  • Minimum deposit amount: $ 10. Deposit $ 2000+ to upgrade to a VIP Account.
  • Minimum amount required to trade: $1.
  • Maximum amount to trade: $ 2,000 for standard account holders and $ 5,000 for VIP traders
  • Successful trade payout: 82 % for standard investors, 90 % for VIP-account holders
  • Minimum allowable withdrawal: $ 10
  • Withdrawal times: Takes 24 hours for standard account holders to a maximum of 3 days, and a few hours for VIP investors
  • No withdrawal fees
Broker Bonus Min Deposit Payout Review Open Account
FREE DEMO ACCOUNT $ 10 82 % for Standard, 90 % for VIP accounts* Review Trade Now!

At Olymp Trade, investors and customers can count on friendly terms which can be helpful in making the trades. When using the service, investors can count on minimum investments and faster withdrawals.

Banking and Withdrawal Options

Olymp Trade provides its customers with a number of options when it comes to deposits and withdrawals. When it comes to deposits, investors can choose from the following list of payment processors:

  • E-wallets like Web Money, Neteller, Skrill, Bitcoin, Qiwi and Yandex Money
  • Use of Visa and MasterCard
  • Boleto, for customers based in Brazil

Withdrawals can be made from these payment processors as well.

Here’s a note when using the banking option of this platform: you can make a withdrawal from the platform where you have completed the deposit. The maximum waiting time for a withdrawal request is 3 days, but the platform strives to complete the withdrawal in the fastest possible time. If you are a standard account holder of this platform, then the average waiting time is 1 day. But if you are a VIP member of this platform, then the average waiting time is just a few hours.

OlympTrade In India and Pakistan

This broker is really popular in these countries last year and we are getting more and more questions from Indian and Pakistan traders. So If you are from India or Pakistan and you are wondering if it’s possible for you to register with this broker, respond is – yes, you can trade with this broker! OlympTrade accepts Indian and Pakistan traders.

And what more – this type of trading (options trading) are still attracting more and more people from these countries and it became a way, how they make money for a living.

As it is written above, you have many possible ways, how you can withdraw/deposit to this broker (visa, MasterCard, Astro pay, Neteller, Skrill, Qiwi, Yandex money, web money, etc…). So you don’t need to worry about this – there is always a way, how to deposit and withdraw your money from the broker.

OlympTrade in Nigeria

We are also getting a lot of questions from Nigeria and it’s kinda similar to the questions we are getting from the Indian and Pakistan traders. So – If you are from Nigeria (or another African country) you can trade with OlympTrade – it’s allowed.

Deposit and withdraw methods are same as for any other country. For possibilities – check above.

How to verify your account?

If you are from Nigeria, India, Pakistan, UK, whatever, the process of verification is the same for everybody on this planet. We are getting more and more questions about “how to verify my account”, “what documents do they want” etc… Please read this below carefully and keep in mind, that the process of verification is still the same and same for everybody, so you don’t need to worry about anything! Let’s go.

So to complete the verification (to withdraw your money) you need to send these documents:

  1. A photo where you hold your passport/ID card in expanded form and where they can see your face and the details in the passport/ID. It’s like a selfie with an appropriate document – nothing more. Note that the photo must be from your shoulders up and it must be easily seen (no blurry). Like on the image below.
  2. Then you need to send them also the photo/scan of the appropriate document that you want to use – ID or passport.
  3. If you used for the deposit a credit card, you also need to send photo/scan of the card from which the payment was made. On the card, the first 6 and last 4 digits, name and surname must be seeable. The validity of the card and the rest of digits can’t be seeable (cover it). The reverse side of the card doesn’t need to be present (they don’t need it).
  4. If you used for the deposit an electronic wallets – A photo/screenshot of the personal electronic purse (Skrill for example) need to be also sent (screen the detail of your account). The information you need to provide is – the picture of number, owner’s name, and the second photo/screenshot must be of that right money transfer (that one your transferred money to OlympTrade).

Where to send the documents?

Upon receipt of the verification request, all the necessary documents must be sent to the e-mail – [email protected] together with the login (the login is the email address) you put during registration.

How long does verification take? Processing of the documents takes up to five business days. And the result of the document verification you will find on your email because you will receive an email with notification about the result.

That’s it – If you need to help with the verification, let us know and we will try to help you.

Types of Accounts Available on Olymp Trade

  1. Demo Account. This account is provided for free, and each account will be assigned 10,000 virtual units. Interested individuals can simply sign up for an account on the website.
  2. Standard Account. A minimum of $ 10 or its currency equivalent is required to enjoy this account. Under this account, investors can trade at a minimum of $1, and a maximum trade worth $2,000. The maximum possible profit that one can get is 80-percent of the investment made. When it comes to the withdrawal of funds, the minimum amount that can be withdrawn is $10 with no set limit for the withdrawal. Withdrawals can take an average of 1 day, with a maximum waiting time of 3 days.
  3. VIP Account. To take advantage of this account, interested investors must deposit $2,000/or its currency equivalent. For this account, the minimum deposit required here is $2,000, and when it comes to trading, the minimum is set at $ 1 and the maximum is set at $ 5,000. Aside from faster withdrawals, VIP members can count on a number of perks. If you sign up for this account, you get the assistance of a VIP consultant and you are given access to leading financial analysts and other trading tools.
Broker Info Bonus Open Account
USA Allowed No
Assets:
Payout: 82 % for Standard, 90 % for VIP accounts*
Demo Account: Yes
Min Deposit: $ 10
FREE DEMO ACCOUNT Trade Now! Read Review

Helpful Trading Tools

On top of the standard tools that are offered by the website, Olymp Trade also offers other friendly tools that can promote a satisfying trading experience:

  1. Support for cryptocurrency. This platform is known for its proprietary Cryptoindex, and this is complemented by Bitcoin, Ethereum, and Litecoin. You can trade these assets anytime, and are known to provide better return of investments.
  2. Trade cancellation. If the trade is not going your way, this platform gives you the chance to order a cancel trade. If this option is exercised, customers can get up to 60-percent of his investment.
  3. Pending trade tool. This is a result to sell or buy a particular option within a set time, or when an asset has reached a targeted price.

Education and Training Within your Reach

If you sign up for an account with Olymp Trade, you are given the chance to access free resources that can be helpful in your growth as a trader. All members of this platform can use:

  • Interactive course
  • Webinars and video tutorials
  • Recommended strategies by top financial analysts

Our Educational Materials

If you don’t want to be dependent on your broker, you can simply go through our wide range of educational materials we prepare and offer on xBinOp.com. Click a button below to see more!

OlympTrade on Social Media

Olymp Trade is one of the popular investing platforms that makes use of the social media. Social media platforms like Facebook and YouTube are used to the company’s advantage, and these platforms are used to distribute learning materials and resources to its members.

Traders and interested students of investing can watch live stream on Facebook, or join webinars that are hosted on YouTube. With the use of the platform and the availability of massive educational resources, we can say that the Olymp Trade is a helpful platform for all types of investors. Today, the website is considered home by more than 6.5 million users, and more than 20,000 traders are active on a daily basis.

OlympTrade Pros

  • Great customizable platform
  • Low minimal deposit
  • Beginner friendly
  • Fast withdrawal times

OlympTrade – Review author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

OlympTrade Details

✅ Broker OlympTrade
✅ Website URL www.olymptrade.com
✅ Founded 2020
✅ Trading Platform Custom made platform
✅ Minimum 1st Deposit $ 10
✅ Minimum Trade Amount $ 1
✅ Maximum Trade Amount $ 5000
✅ Bonus FREE DEMO ACCOUNT
✅ Payout 82 % for Standard, 90 % for VIP accounts*
✅ Free Demo Account
✅ Regulated
✅ Regulation Regulated by FinaCom
✅ Account Types Standard (10-2000 USD Deposited), VIP (2000+ USD Deposited)
✅ Account Currency USD, EUR, BRL
✅ US Traders Allowed
✅ Mobile Trading
✅ Tablet Trading
✅ Overall Score 4.9 / 5

Open Account!

157 Responses to “Olymp Trade Review – Is it SCAM or LEGIT broker?”

That is a surprisingly low threshold for getting VIP account at Olymp. I’ve learnt that VIP customers get better payout rates at Olymp, not only personal assistant. 92% or 82% seem to make not that big difference, but in fact it is a huge difference that these 10% make. Unfortunately I don’t have that much spare money yet. My plan is to turn my $500 into $2000 and become a VIP client this way ��

Hi there. Its been apx 2 months now im trading with Olymp. I have no problem with Olymp so far. They have paid me for all the withdrawals so far on time. I had made apx 3000% profit within this period and all things are well. But the only problem i have with Olymp is the Trading limits. Whenever i try to execute trades with higher amounts, the account automatically get restricted. Then i wont be able to trade for cpl of days. When i tried to contact the Customer Care, they are asking me to trade with 1$-5$. But i want to give orders in 3 digits, and not one digit. Can some one help me to understand how to overcome this issue.

Can i conform that it will continusoly trade the account from different commedities ? and withdrawal amount should be initiating late to bank/card?

Hello am from Nigeria if I start trading with 10 dollars how much am I going to make as profit

Hi, this is Brayden (name changed). I have been trading with Olymp Trade for the past 41 days. My total investment is 73$. The best part is that I had already made my first withdrawal of 110$ and it got credited in my bank without any issues. So the best thing is that my capital is secured. Now I have $400+ in my account. I have ordered for a withdrawal of 150$, and its been 3 days now with a response from them that they are investigating my account to check if I have violated the law or not. Let them investigate if that is part of their process. I have no major complaints with Olymp so far. Some inconveniences are there everywhere. Even though I have secured my capital, I’m looking forward to make some profit and withdraw them. I’m currently working as a full-time trader. So ill be happy if things go well. My advice is that just study and understand the market and go ahead. Do not gamble. Demo trade first, and then invest a small amount and trade and learn with live money. Im in the forex industry for 12years. I’ll post a detailed review after 3 months of my usage with Olymp.

I come from Tanzania, I want to invest but I have no passport card

Don’t do it…..
Short answers for this question are not enough…
Let me give you brief about the realtime experience with olymp trade…-yes it may provide you some amount as winning amount in beginning…
But then after 3 4 wins and few losse ..
You cm to realise that… its actually a big hoax…you are fooled in the name of trading… you are simply playing bets for the trade going up or down….again , the app does every possible thing to catch you at your most vulnerable points of mobile usage like… screen lock, network loss, application switching and all other similar aspects… if you are in the middle of a trade and unfortunately your screen gets loked or so… when you switch on your screen, all your trades will be lost… this happened every single time when i had to lock my screen while trading.. infact i used to trade multiple bets in single go.. they all vanished without the trade being complited…
The same happens when you relode the app after app switching and network loss situation.

Also the app reads your psychology and trade behaviour and starts snatching money with altered algorithmic strategies.. at the end of the day… you will have nothing in your pocket…
In short.. beware..

They are big Cheaters…

Hello, do you have some bad personal experience or why you are saying this? �� Let us know. Thank you.

Olymp Trade works since 2020 and offers services in various markets. Personally, I have been working with them for 2 years and so far have not noticed any deception. I don’t know where you got it from, but it seems to me that either from slander on the Internet or from negative experience. If this is simply based on others thoughts, then this is bad, because you are simply misleading people. If you have a negative experience, then share trade does not offer guaranteed earnings or golden mountains to everyone, they offer a high-quality terminal and a set of tools for traders, as well as training for beginners. I am very sorry that often people perceive trading as a place where anyone can get rich, this is not so. But the brokers themselves are largely to blame, who in the 90s and 00s positioned trade as an opportunity to become rich. And many come to trade without learning, and then lose and blame respectable companies like Olymp trade. Just in order not to lose money, you need to study hard for a long time and not wait for millions on the first place.

Where to study and how to study olymp trade

Olymp Trade Review

User Review

Summary

The internet presents new ways of earning money year in year out. Anybody who knows how to make good of an opportunity knows of the underlying cash that exists in online platforms, all but waiting to be uncovered. Yet, despite the wide range of possibilities available, making money online somehow still poses as a challenge for many. And with good reason, almost all relevant ways available require a significant amount of personal investment, such as procuring assets to sell, spending money on ads and more.

Pros

• Access to a comprehensive education system.
• The company offers stellar customer support to assist with your trading requirements.
• A user-friendly and intuitive trading platform that lets you trade with ease and efficiency.
• Olymp Trade offers its incentives inform of risk-free trades.
• A low minimum deposit and investment allow traders to get started with the smallest amount of cash available to them.
• An exceptional 24-hour operational customer care service that lets you enjoy all menu options from support forums, emails, telephone numbers, you name it.

Cons

• Limited trade types
• Limited account types

Nevertheless, there are online platforms that give you the chance to profit in the long run with minimal initial investments – financial services like Olymp Trade.

Olymp trade is an online trading stage for digital options; a financial service that can help you to pocket some money provided that you know the market well enough.

Table of Contents

Understanding How Olymp Trade Works

Many times, people have invested their money in the wrong place because of a lack of knowledge; hence it’s important to understand the nature of your preferred trading platform before you get into bed with them.

‘Options’ are contracts that have fixed risks and rewards. Basically, they’re based on a mere ‘yes’ or ‘no’ proposition. Traders must decide whether an underlying asset, such as a commodity, currency, or stock, will rise or drop during a set period. Their earnings are shown up front to them if their predictions are correct.

Options vs Forex Trading

Financial markets, on the other hand, offer more variability and higher risk for traders. In the case of forex markets, for example, traders have to predict not only whether an asset will go up or down, but how high or low it goes. Hence, the final risk and profit are uncertain.

Unlike options trades that operate on specific timelines, forex markets give users the flexibility of opening and closing a trade at a time that’s convenient to them. Trades can even last for months. Of course, this has its pros and cons. You can read more about Olymptrade Pros and Cons here.

Top Features of Olymp Trade

Here are the top features that set Olymp Trade apart from the rest of the South African online brokers in the industry:

Free Educational Resources – Olymp Trade not only offers you a safe and secure online trading portal, but also teaches you how to make successful trades.

Separate free training is available for beginners as well as experienced traders. Beginners can get high-quality strategy-based trading instructions, gain familiarity with financial issues, and understand trading psychology. Experienced traders can learn about managing their capital and original trading strategies and gain access to analyst webinars.

Analytics – This tool includes an economic calendar and a number of trading signals developed by expert traders. While trading signals do not guarantee profits, they certainly help improve traders’ chances of making a successful trade.

Blog – Olymp Trade also maintains a blog, on which it posts the latest updates, trends, news, analysis, and other value information that helps traders learn more about the trading world.

How Much Can You Make with Olymp Trade Platform?

The Olymptrade platform lets you earn up to 90% profit (VIP account) with minimum investment. With a minimum deposit of $10, you can begin to trade with as low as $1 and earn up to 80% profit on a regular account.

Closing your trade is quite simple and convenient, especially if you’re a beginner trader. The first step involves choosing an asset after which you’re supposed to indicate the trade amount and expiry date. This reveals the closing time for your trade for that specific asset and gives you ample time to predict the extent to which its price will rise or fall.

Additionally, the company has an affiliate program through which you can pocket some cash with no investments at all. Recruiting affiliates for the scheme opens you up to a number of benefits including; a fast compensation payment, incentives through valuable prizes and gifts, and provision of informational and technical support for affiliates.

What Ensures the Trading Platform’s Reliability?

Since its inception in the year 2020, Olymp Trade has grown popular in its operations, as is evident in the 10,000,000 downloads of the trading app from Google’s Play Store.

The company understands the confusion that a lot of beginners have to contend with during the initial stage- hence the emphasis on extending technical support. It doesn’t matter which corner of the universe you live in. Somebody will always be there to offer a helping hand in your language and time zone.

Also, the fact that FinaCom regulates the trading platform shines a light to the lengths its founders have gone to in a bid to earn the trust of traders. FinaCom is the entity that traders go to for legal assistance in case of a dispute with their financial service provider. Their policies and regulations are as strict as they get. Just being a registered as a FinaCom member demonstrates the legitimacy and reliability of Olymp Trade as a digital options merchant.

Only 5 years into the industry, Olymptrade has managed to scoop the following awards:

  • “The fastest growing broker” – ShowFX World 2020
  • “The best platform for trading” – Le Fronti 2020
  • “The best broker”- KROUFR Awards 2020
  • “The best financial broker” – CPA Life Awards 2020
  • “Innovative broker” – IAFT Awards 2020
  • “The best broker” – The Forex Expo 2020
  • “The best trading platform” – Le Fonti 2020

These position Olymp Trade as a leading provider of financial services in terms of overall client satisfaction, trust, and transparency.

How to Register and Open a Free Demo Account

A lot of experience comes in handy when trading. Whether a beginner or an expert, a demo account lets traders buy and sell for free, giving them the much-needed experience and a chance to familiarize themselves with the trading environment.

If you’re a beginner, who just wants to see how it works, no real money is needed. Olymp Trade’s free demo account comes with $10000 virtual units.

  1. Simply register at the company’s site
  2. Click “Open a new account”
  3. Sign in as a member
  4. Select a Demo account to start practicing.

Types of Accounts on Olymp Trade

  • Free Demo Account with $10000 virtual funds.
  • Standard account. A minimum investment of $10 is required to hold a standard account. Investors can trade at any range from $1- $2000 and get 80% of the investment. Generally, the minimum withdrawal amount one can make is $10 which takes an average of one day to process. Sometimes, withdrawn funds last up to 3 days to clear.
  • VIP account. Interested investors have to deposit at least $2000 and can trade at any range from $1-$5000. From faster withdrawals to trading assistants, a VIP account offers its holders a number of perks as seen below.

Benefits of Holding a VIP Account

  • Every VIP trader on the platform has a financial analyst attached to them. These are expert traders who use their experience to solve the user’s problems and give them insights on certain issues concerning the trading platform that others don’t have.
  • A higher ‘return on asset’ means increased profits for VIP traders when trading options.
  • Investors receive unique strategies well-known for their excellence and efficiency, in the form of comprehensive step-by-step guides.
  • A VIP account offers a higher transaction limit of $5000.
  • Risk-free trades. This is a loss-evasion strategy in case of a wrong prediction. Olymp Trade offers these to each new VIP trader as a welcome bonus.

Which Assets Can You Trade?

Here’s a list highlighting all the assets that are tradable on the financial stage:

  • Currency pairs – EUR/USD, USD/JPY; GPB/USD; USD/CHF; USD/RUB; AUD/USD; EUR/RUB; USD/CAD; EUR/CHF; EUR/JPY; AUD/CAD; AUD/CHF; AUD/JPY; AUD/NZD; CAD/CHF; And others.
  • Commodities – Gold (XAU/USD), Silver (XAG/USD); BRENT; Natural gas; COPPER; PLATINUM.
  • Stocks – AAPL (Apple Inc), BA (Boeing Co); FB (Facebook Inc); GOOGL (Google Inc); IBM (IBM Corp); TSLA (Tesla Motors Inc); KO (The Coca-Cola Co); MSFT (Microsoft Corp); MCD (McDonald’s Corp); V (Visa Inc); SBUX (Starbucks Corp); BMW; Nintendo.
  • Indices – FDAX- Germany; ES (S & P500)- US; NQ (NASDAQ 100)- US; YM (Dow Jones)-US; CAC 40- France; EURO STOXX 50; Hang Seng Index- Hong Kong, China; Nikkei 225-Japan; RUSSELL-US; FTSE 100-Europe.
  • Crypto Assets – Bitcoin; ETH/USD; Ethereum; LTC (Litecoin)/BTC (Bitcoin); Bitcoin Cash (BCH); Bitcoin Gold (BTG); Ripple (XRP); Monero (XMR); Dash (DASH); Zcash (ZEC); Ethereum Classic (ETC); Litecoin (LTC).

Olymp Trade Apps – Trading on the Go

You have two ways to trade on the Olymp Trade platform—in browser or via downloadable native apps. Traders usually prefer to trade in browser as it is convenient as requires no download.

However, if you prefer to download an app, you will be pleased to know that Olymp Trade offers dedicated downloadable apps for Android, Apple, MacOS, and Windows devices. The download links are available on the online broker’s official websites. You just have to click on these links to initiate download.

Olymp Trade’s mobile trading interface enables you to register a new account in a few seconds and accepts a variety of technical indicators and interactive charts. It also offers excellent customer support, a variety of assets, and a safe and secure online trading environment.

Getting Smart with Depositing and Withdrawing Money

Making a Deposit

VISA card makes one of the most natural methods to deposit funds. Other ways you can put money into your account include Visa Electron, QIWI WALLET, MasterCard, NETELLER, Skrill, epayments, Webmoney, and more. Note that these methods might vary with location.

The thing that makes VISA an exception is the short time it takes for your funds to reflect on your account on completing a transaction. Hence you can start buying and selling almost right away. To deposit money:

  1. Log in to your Demo account
  2. Click on ‘Make a deposit’ at the top right corner of your trading interface. You’ll be taken over to the payments page.
  3. Click on the ‘MasterCard/Visa’ (your preferred mode of payment) logos below the bank cards tab.
  4. Select your preferred deposit amount. This might attract a bonus which you can accept or decline.
  5. Click on ‘Deposit’ at the bottom right of the page. You’ll be redirected to the card payment page.
  6. Enter your card details (names, card number, CCV number, and validity period) and click on ‘Pay.’

Your deposited amount should reflect on your Olymp Trade account within a few minutes.

Making a Withdrawal

Note that withdrawals can only be made to the payment systems used in making the deposit.

Also, bonuses can’t be withdrawn, only profits.

With Olymp Trade, there are no removal fees. This isn’t to say that third-party payment processors won’t deduct currency conversion and processing charges. Account verification via text, email, or phone call is mandatory before making a withdrawal.

To withdraw money from Olymp Trade:

  1. Log into your account
  2. Click on ‘Make a deposit’ followed by the ‘Withdraw’ selection on the payments page.
  3. Fill in on the required information, ensuring the amount equals/exceeds $10.
  4. Select the payment option, ascertaining it’s the same one with which you deposited money. Fill in the remaining details and finalize the transaction.

The withdrawal request should take between 24 hours to 5 working days to process. In the event that the process doesn’t go as stated above, feel free to contact the payment system’s support team for assistance.

Customer Support at Olymp Trade

Olymp Trade has a comprehensive FAQ and you are most likely to find answers to your questions in the FAQ section. If you still need help, you can try one of these methods:

  • Email to [email protected] and get a response in one day.
  • Use the online contact form to connect with a customer support agent.
  • Launch the live chat window to connect with a customer support agent.
  • Interact with staff and other traders on social networking sites YouTube and Facebook
  • Call the hotline +27 (21) 1003880 for South Africa

Prompt customer support is available round the clock in eight languages at Olymp Trade. The average waiting time to get a response is 15 seconds.

Why you Should Choose Olymp Trade Over Other Online Trading Platforms?

Advantages of using Olymp Trade

  • Access to a comprehensive education system.
  • The company offers stellar customer support to assist with your trading requirements.
  • A user-friendly and intuitive trading platform that lets you trade with ease and efficiency.
  • Olymp Trade offers its incentives inform of risk-free trades.
  • A low minimum deposit and investment allow traders to get started with the smallest amount of cash available to them.
  • An exceptional 24-hour operational customer care service that lets you enjoy all menu options from support forums, emails, telephone numbers, you name it.

Contrarily, every trader has to brave the demerits that result from buying and selling assets on the 2020-established trading stage.

Disadvantages of using Olymp Trade

  • Limited trade types
  • Limited account types

What is asset liquidity?

Liquidity refers to the capability of an asset to sell fast with minimum monetary losses akin to the speed with which a sale takes place. Alternatively, liquid means ‘convertible into money.’ The more liquid an asset is, the less the risk for the investor. Currencies top the list as the most liquid asset, followed by securities and commodities.

Will Olymp Trade scam me?

Being fully regulated by the top entities in the world puts Olymp Trade at the forefront of legitimate asset trading. Rest assured your funds are insured. What’s more, any problems you come across during trading will be resolved.

Can I open another account?

No. Olymp Trade limits its traders to one account per client.

Be sure to visit the trading platform site’s FAQ page for answers on any additional questions you may have regarding the company’s trading stage.

Is Olymp Trade Regulated in South Africa, Kenya, and Nigeria?

Based on the platform’s data, there isn’t a doubt that Olymp Trade is a key player in the African market space. Furthermore, their approach towards traders from SA, Kenya, and Nigeria is complimentary. Customer support languages in English, Spanish and Portuguese enables the company to extend its services to the rest of the continent as well.

Closing Thoughts

Plenty of success stories and comments have been posted on the service provider’s official site and other online forums. The bread crumbs have been laid out. All that’s left is for you to follow them.

As we wrap up, it is worth noting that it’s never in the forex broker’s best interest for traders to win. After all, they profit when you lose. But that isn’t an indication of losing. With a straight and solid strategy, Olymp Trade is a platform that gives you the room to thrive as a trader.

So, are you looking to make money buying and selling assets? Visit the platform’s official website and begin your journey as a real trader.

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