Olymp Trade Review (Official) | Is it a Scam? All you need to know

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Everything you need to known about Olymp Trade: Full Review for Beginners

By: Moses Davis - May 30, 2020

Olymp Trade is a online trading platform trusted by over 30 million traders and was launched back in 2014. It is owned by  Inlustris Ltd. Registration No.: 25161 IBC 2018. The broker has over 25 thousand active traders daily and facilitates over 30 million transactions monthly.

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Which assets are offered by Olymp Trade

 

Olymp Trade trading platform

Other than being on MT4, Olymp Trade is available on a custom made platform which is not only appealing but makes it easy to execute and modify trades. The platform is available on desktop, mobile and on web browsers. The platform comes with a wide variety of tools and technical indicators like the RSI, Bollinger Bands, Moving Averages, Stochastic and Parabolic SAR for easy market analysis.

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How to deposit on Olymp Trade account

You can make a deposit to Olymp Trade with as low as $10. The broker has made it easy for traders to fund their accounts with a wide variety of deposit methods. They include:

 

Best Indicators on Olymp Trade

Olymp Trade boasts of a wide range of Technical Analysis indicators. These Indicators are usually used to forecast price changes on the market. They are calculations which take the volume and price of a certain financial instrument into account. By using indicators, traders can make decisions about market entry and exit.

 

Some of the most popular indicators on Olymp Trade include; RSI (relative strength index), MACD indicator, Stochastic, Bollinger Bands, Sentiment, Ichimoku Cloud, Parabolic SAR, EMA (Exponential Moving Average), ZigZag, Alligator, WMA (Weighted Moving Average), Average Directional Index and SMA (Simple Moving Average.

Is Olymp Trade a scam or safe?

 

Olymp Trade is not a scam but a safe broker. The broker is a member of the International Financial Commission (FinaCom). To become a member of the commission Olymp Trade practices were investigated by the commission to determine if they were scamming people. The broker passed the test. If Olymp Trade scams its traders, each trader would be eligible to receive 20,000 Euros from the International Financial Commission. This shows that the broker has enough regulations in place and the chances of scamming traders are next to zero. Olymp Trade traders are also stand the benefit of enjoying free legal aid in any disputes that may raise with the broker.

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Account types on Olymp Trade

Olymp Trade offers three types of trading accounts. A demo account, a standard account and a VIP account.The table below explains features of these accounts.

 

Awards

Through its efforts to provide a safe platform for traders to invest in various assets, Olymp Trade efforts have not gone unnoticed. The broker has won various awards including;

🏆 The fastest growing broker from ShowFX World 2016

🏆 The best broker during the Forex Expo 2017

🏆 The best financial broker during the CPA Life Awards 2017

🏆 Innovative broker during the IAFT Awards 2017

🏆 Best Traders FB Community in Thailand by Traders Fair in 2018

 

🏆 The best trading platform from Le Fonti 2018

🏆 Best Trading Platform by The Forex Awards in 2018

🏆 Best Customer Service Broker by Global Brand Awards in 2019

🏆 Best Mobile Trading Platform by Global Brand Awards in 2019

🏆 Best Customer Support Broker by Forex Brokers Award in 2019

🏆 Best Mobile Trading Experience by Forex Brokers Award in 2019

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Customer Support

Olymp Trade has an outstanding customer support team to ensure that all customer queries are addressed in the minimum time possible. With an impressive response average time of 15 seconds indeed Olymp Trade puts customer satisfaction at the heart of their business. The Live chat feature on their website is one of the easiest way for traders to have their queries addressed. The broker also offers support via phone and email.

Customer support is available in 11 languages to ensure traders from different countries get their assistance easily. The 11 languages are English, Vietnamese, Portuguese, Indonesian, Thai, Chinese, Spanish, Turkish, Russian, Arabic and Hindi.

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Guide on how to make money online with Olymp Trade

 

Olymp Trade offers educational materials to guide new traders on how to go about their trading on the platform. The goal of these free educational materials is to ensure that traders become profitable in their trades and make a decent income. For advanced traders they provide guides and technical analysis tools to ensure that this traders continue being successful on the platform.

Hundreds of webinars on different trading topics and analysis are available on the brokers platform. The webinars cover master classes on trading, money management skills, strategies, market analysis, trading calendars among others. These webinars and education can be accessed here

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Olymp Trade Profit Challenge and Quest

Quests make Olymp Trade one of the most rewarding broker to work with. The broker hosts various quests and profit challenges with real cash prizes winnings. During the contests registered traders are given an equal amount in their accounts to trade, after a specified period the trader with the huge profit wins together with the runners up. The cash prizes amount is sometimes as high as $100,000 distributed to the top ten contestants.

Traders can also enjoy quests during which unique promo codes are given out during live streams, exclusive educational materials and other useful gifts

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Is Olymp Trade available in my country

Olymp Trade accepts traders from these countries

Olymp Trade accepts traders from these countries; Afghanistan, Albania, Algeria, Andorra, Angola, Antigua and Barbuda, Argentina, Armenia, Azerbaijan, Bahamas, Bahrain, Bangladesh, Barbados, Belarus, Belize, Benin, Bhutan, Bolivia, Bosnia and Herzegovina, Botswana, Brazil, Brunei, Burkina Faso, Burundi, Cabo Verde, Cambodia, Cameroon, Chad, Chile, China, Colombia, Comoros, Democratic Republic of the Congo, Costa Rica, Cuba, Djibouti, Dominica, Dominican Republic, East Timor (Timor-Leste), Ecuador, Egypt, El Salvador, Equatorial Guinea, Eswatini, Fiji, Gabon, The Gambia, Georgia, Ghana, Grenada, Guatemala, Guinea, Guinea-Bissau, Guyana, Haiti, Honduras, India, Indonesia, Jamaica, Jordan, Kazakhstan, Kenya, Kiribati, South Korea, Kosovo, Kuwait, Kyrgyzstan, Laos, Lesotho, Madagascar, Malawi, Malaysia, Maldives, Marshall Islands, Mauritania, Mexico, Federated States of Micronesia, Moldova, Monaco, Mongolia, Montenegro, Morocco, Mozambique, Namibia, Nauru, Nepal, Nicaragua, Niger, Nigeria, North Macedonia, Oman, Pakistan, Palau, Panama, Papua New Guinea, Paraguay, Peru, Philippines, Qatar, Rwanda, Saint Kitts and Nevis, Saint Lucia, Samoa, San Marino, Sao Tome and Principe, Saudi Arabia, Senegal, Serbia, Seychelles, Sierra Leone, Singapore, Solomon Islands, South Africa, Sri Lanka, South Sudan, Suriname, Taiwan, Tajikistan, Tanzania, Thailand, Togo, Tonga, Trinidad and Tobago, Tunisia, Turkey, Turkmenistan, Tuvalu, Uganda, Ukraine, United Arab Emirates, Uruguay, Uzbekistan, Vatican City, Venezuela, Vietnam and Zambia

Olymp Trade does not accept traders from these countries

Olymp trade does not operate in or provide services to persons associated with the following countries and (or) their dependent, associated or affiliated territories: Gibraltar, the Isle of Man, Guernsey, Jersey, Australia, Canada, the United States of America, Japan, Austria, Belgium, Bulgaria, Croatia, Cyprus, Liechtenstein, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Iceland, Italy, Israel, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Norway, New Zealand, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Switzerland, Sweden, the Islamic Republic of Iran, or the United Kingdom of Great Britain and Northern Ireland, Lebanese Republic, Republic of Zimbabwe, Republic of Mauritius, Republic of Côte d'Ivoire, Republic of Iraq, Commonwealth of Puerto Rico, Republic of Yemen, Federal Republic of Somalia, Republic of Congo, State of Libya, Republic of Sudan, Federal Democratic Republic of Ethiopia, Republic of Liberia, Syrian Arab Republic, Republic of the Union of Myanmar, Central African Republic, State of Eritrea, Democratic People's Republic of Korea, Republic of Mali, Republic of Vanuatu, Saint Vincent and the Grenadines, Russian Federation, as well as dependent, related and (or) associated territories of the above mentioned states.

 

 

Citizens of these countries should look for alternative brokers like IQ Option, Pocket Option, Etoro, Expert Option, IC Markets, XM, FXTM or Binomo

 
 

Olymp Trade Ratings

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