History of Olymp Trade begins in September 2014 – in just a few years it has become one of the market leaders in Fixed Time Trades.
Having conducted review, the main feature is that the platform offers only one instrument – Fixed Time Trades. There are no other types of contracts, such as One Touch. As for expiry times, the maximum term is an hour, while the minimum is one minute. For “chartists” – supporters of technical analysis and small timeframes, it may be more suitable, but for those who want to use fundamental analysis in online trading.
Types of underlying assets at Olymp Trade
Ask yourself a question is this company a scam before you start your own way here, look at the number of assets the company offers:
- 34 currency pairs;
- 13 exchange shares;
- 12 crypto-assets;
- 10 indices;
- 6 raw materials assets.
Not being a scam, Olymp Trade offers an interesting solution – the asset Random, which unpredictably changes in price, but at the same time it can be changed even on weekends. Using such an asset, again, is more interesting for beginners than for serious guys.
Features of Olymp Trade
There is also a demo account which also proves that these guys are not scammers, and on it you can practice. This account allows you to trade for any length of time and with a deposit of 10,000 virtual units, so you can familiarize yourself with the principles of law before you go for real money.
|Profitability up to %||Up to 82% for standard accounts and up to 92% for Expert accounts|
|Expiration Time||From 60 seconds to several hours|
|Minimum deposit||$10 / €10 (depending on account currency)|
|Minimum withdrawal amount||$10 / €10, maximum unlimited (any amount)|
|Withdrawal Timeframes||On average 1 day for Standard accounts (maximum 5 business days) and a few hours for Experts (maximum 1 day).|
|Additional Advantage||No commission for deposit/withdrawal;|
|Additional Advantage||No commission for deposit/withdrawal.|
Olymp Trade scam or legitimate online broker?
Full regulation is one of the main factors to look at when trying to determine if a fixed time trade is legitimate or fraudulent. As a trader, you want to know that your funds are insured and any problems you encounter when working on a particular platform will be resolved. Let’s look at the Olymp Trade scam question.
The fact that this company is regulated by FinaCom shows the lengths the broker went to in order to earn the trust of people. Olymp Trade is not a scam.
FinaCom membership is a good indication that Olymp Trade is a legitimate broker of fixed trades. FinaCom offers users legal assistance in case people start a dispute against any broker registered with them. One more proof that they are true.
If the trader’s complaint is resolved, he/she can count on a compensation of up to $20,000. Any person wants to be sure that his deposit is secure and will be refunded in case the broker turns out to be a scam.
In addition, they provide a dispute resolution service with the help of a dispute resolution department.
It is fully regulated and you can easily find all the rules on their website. The policy of the Finance Commission is quite strict and ensures that legal assistance is offered to any person who has had serious problems with a broker, indisputable proof that they are not scamming people.
The Finance Commission ensures that customer deposits are kept separate from the company’s operating funds. It also provides a compensation fund in a very unlikely bankruptcy scenario. Refunds can be as high as $20,000 XNUMX.
In any case, it is always better to try to solve the problem directly with the broker first, rather than saying Olymp Trade scam. And if that method doesn’t work, you can proceed with the complaint
It has a support system which works perfectly. You can get in touch with them by phone (24 hours a day), by email (you will receive a reply within 24 working days), through the contact form on the website or via chat. I can tell you from experience that you will not only get a quick answer but also an adequate one.
Advantages Olymp Trade
The online platform used is unique. It was created by the company’s specialists, who are constantly developing and improving the platform. Any interface and service decisions are based on recommendations from financial analysts and users’ preferences. Its main advantages include the following:
- Has three versions
- Available in the most popular languages
- Ability to use different chart settings, known analysis systems, editing the list of assets.
- Revision of the asset list.
In total, the platform includes:
- 36 currency pairs;
- 10 cryptocurrencies in relation to USD;
- 2 cryptocurrency pairs;
- 6 assets of commodity sector;
- 10 stock indices;
- 13 shares of the largest companies in the world.
You can replenish your account in several ways:
|With bank cards||VISA or MasterCard format|
|From electronic purses||WebMoney, Neteller, Skrill, AdvCash, Perfect money, Bitcoin.|
All transactions are regulated, which means that it is not a scam.
Olymp Trade app
The platforms can be accessed via Olymp Trade app for smartphones and WebTrader for PC. The app is available for Android-based devices (downloadable from Google Play Store) and iOS (downloadable from App Store).
The platforms are considered as one of the best in the industry, and this is confirmed by several awards. For example, OlympTrade won the “Best Mobile Trading Platform” award at the Global Brands Awards 2019, as well as the LeFonti “Best Trading Platform” award in 2016, repeating the feat in late 2018
Here are a number of key features that make the Olymp Trade app stand out among online apps:
1. It is multilingual.
The app is programmed with at least 30 different major languages, giving access to almost all users around the world, regardless of language. Most other online apps only come in English, and very few other languages.
While a number of online brokers provide educational resources to their clients, you rarely see the same in their mobile apps. Most apps are primarily for trading. This one includes its educational packages in its app, making trader education very accessible. The educational section contains resources on the basics of trading, basic and advanced technical analysis, as well as a 30-minute crash course.
Navigation via Mobile App – How to Get Started
- Go to your app store (Google Play Store for Android and App Store for iOS). Enter “Olymp Trade” in the search bar. Then press the “enter” key. You should be automatically redirected to the official app. Please make sure it is the “Olymp Trade – Online Trading App” with millions of downloads you download, as there may be clones developed by unauthorized individuals.
- Once you open the app, you will be instructed to register. You can choose from 3 registration methods: email, Facebook or Google (i.e. Gmail). If you are using the “email” option, you may need to check it. However, if you use any of the Facebook or Google accounts already signed up on your phone, you won’t need to.
- You must choose one of two currencies (U.S. dollars or euros) in which your capital will be listed. As such, regardless of the amount of your capital in the local currency, the dollar equivalent is what reflects as your balance in your account. Immediately after you complete this, you will be confronted with a service agreement. You can take a look at the terms listed in them. After that, click on the register.
- Demo Account: After registering, you will automatically be given a demo account with $10,000 in virtual money. You can then start making deals right away.
- Terminal: The first “area” you will encounter is the Terminal. In the top, left corner of the Terminal, is your account balance. At this point, that will be your $10,000 for the demo account. Next to it, you have a button to make deposits into your live account. In the upper right corner is a profile icon. When you click on it, you get access to your profile. Here you can create settings in your profile. Also listed are the contests that are available in which you can win bonuses.
OlympTrade services in the app
It provides quality services through many channels; they summarize.
- Free Education
- Multi-language support
- Real time webinars
- Account Managers
- Free demo account
Their app goes beyond making online deals available at your fingertips. It also serves as a one-stop-shop for all services.
Is Olymp Trade real or fake? – From our experience, it’s a real app to make money. But be careful because deals in financial markets are very risky. You can lose the amount of investment very quickly. So, you should use good risk management and strategy. You can definitely make money with App. It is a real and regulated online broker.