Olymp Trade Review 2020

It’s time to check out a new broker! This time we will be taking a look at a broker whose offer is primarily focused on options and forex trading. Olymp Trade has been a part of the trading industry for more than five years and many traders have already tested them out.

We did so too and now it’s time to share the impressions we got during our time on their website. There are definitely many things we have to discuss. What can you expect when you sign up? Which features are this broker’s greatest strengths?

Learn that and much more in the rest of this extensive Olymp Trade review. Let’s get things rolling!

You probably already know that you cannot start trading without an account, so let’s see how you can sign in with Olymp Trade.

First Steps

Registration is actually very simple because you only need to input your name, e-mail and choose the currency you want to use (euro or dollar). You can also use your Facebook or Google+ account in this process, and once you’re all done with that you will be able to execute your first login and continue with your trading experience here. There are no multiple account types that require you to invest something extra in order to access their features – once you sign up, you have access to everything the broker has to offer. The only other option is to open a VIP account.

It is interesting to note that you don’t delete your Olymp Trade account when you don’t want to trade anymore, but simply block it by contacting the support. Don’t forget to complete the account verification process if you want to be able to withdraw your money, but the company’s finance department should remind you of that. Once you’re all done with this phase, you get to move on. We dedicated the next part of this Olymp Trade review to the next most important step, so keep reading and see what else is on the agenda.

Deposit

Another thing you have to do before you start trading is to fund your account. Olymp Trade deposit is very easy to make – simply choose between bank cards, Visa and MasterCard credit cards or one of several e-wallets (Skrill, Neteller, Qiwi, WebMoney, Yandex or Fasapay). After that, you need to decide on the amount you want to deposit, enter it in the Deposit section of your profile and click a button. And that’s all there is to it! Your funds will be visible immediately.

This brings us to perhaps the main reason for this broker’s popularity: the minimum Olymp Trade deposit requirement is set to just 10 USD or EUR, which is one of the lowest requirements in the whole industry. Not only that, but the broker also covers all deposit fees, so the amount you deposit is exactly the amount that will be transferred to your trading account. In addition, the minimum trade requirement is just one dollar/euro, so even with the lowest deposit you will still be able to open a decent amount of trades and see what trading here is all about. On top of all that, though, your funds can increase their value very easily, but that’s the topic of the following part of our Olymp Trade review.

Bonus policy

Yes, you can get some very interesting bonuses when you fund your trading account on this website, so let’s take a look at what you can expect once you sign up.
Your first option is to make a deposit immediately after creating an account. Well, maybe not immediately, but within one hour. If you can do that, you will receive a special 100% Olymp Trade bonus. However, there are some conditions associated with this – the bonus applies only to deposits between 30 and 200 USD or EUR. Therefore, you cannot get more than 200 dollars/euro this way.

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Fortunately, there is another way if you want to get a bigger bonus. Standard Olymp Trade deposit bonuses also start at 30 USD, but they bring you only 10% with that amount. On the other hand, they go all the way up to 50% for amounts of 5000$. This way you can get a pretty hefty sum into your account right from the start and increase your chances of striking it rich. You might also want to pay attention to various promo codes that can pop up from time to time, depending on the broker’s mood. In any case, when you’re ready, you’ll head to the place where it all happens. This Olymp Trade review will take you there too, so keep reading.

Software and trading platform

Once your registration is complete and you feel ready for trading, you can head on to the Olymp Trade trading platform. Like we said, this is primarily an options and forex broker, so that is pretty much what you will find there. It should be noted that the platform was created by the broker’s own team of developers and these people have done a splendid job. There are about 250 different assets you can trade with and the maximum amount you can invest per trade is 2000 per trade or even 5000 if you’re a VIP member. Among other assets, you can also trade cryptocurrencies, including Bitcoin, Ethereum and something called CryptoIndex, an asset unique to this trading platform. Another thing that is unique to Olymp Trad is the fact that they have no spreads! That’s right, zero spreads and only the best possible deals for you here.

As for the features you can use, there are plenty of indicators and other trading tools to choose from, as well as several types of charts. What we especially liked is the fact that Olymp Trade has created a lot of analytical stuff to go along its software. You have your economic calendar, for example, with a neat system of symbols denoting various volatility levels and other important market details. Generally speaking, everything runs very smoothly, and the execution is very quick, so the whole experience is very pleasant. Obviously, we’re talking about desktop Olymp Trade platform for your PC here, but you don’t need to download anything in order to use it. Logging into your account on this website is the only thing required to start trading.
But there is one more platform version you can use to trade, and Olymp Trade review will show you everything about that next.

MetaTrader 4

Recently, however, a big new feature was introduced to the broker’s website. Yes, from now on Olymp Trade allows you to conduct your trades on MetaTrader 4, which probably the most famous and most popular trading platform in the world right now. This is important for a couple of reasons – first, it can tell us a lot about the company’s seriousness and reliability because with MetaTrader 4 you can be certain you will have no problems. Of course, you will still be able to trade on the old platform, this is just an extra choice you have (but what a choice it is!).

Second, this also means more options for new traders. Islamic accounts are now available, something that will certainly be important to Muslim traders. Furthermore, robots can also be used, spreads start from zero pips, leverage goes to 1:400 etc. These are just some of the features this new platform brings to the table, but they point to a wider picture. This means that Olymp Trade is on the move and looking to expand its reach. Surely, if you’re an experienced trader you know full well how good MetaTrader 4 is. And because they are on the move and aiming for a wider audience, you can be sure Olymp Trade is doing well and that it has proven itself in the trading industry.

CCI oscillator

But that’s not the only big addition to the arsenal of features this trading platform provides. Olymp Trade is continuously expanding its offer, so they also introduced CCI oscillator a while ago. It’s a great way to see how much an asset has moved from its average price, which can tell you with a great degree of certainty when a trend is about to reverse. You will be able to track this on a separate screen right below your chart, and the whole thing is fairly straightforward. But where Olymp Trade CCI oscillator really shines is when it is used in combination with other analytical tools, especially MACD. Furthermore, if you haven’t used this particular tool before, the broker suggests that you use it on the EUR/USD pair to see get the clearest idea how it works. On the other hand, if you’re an experienced trader, you’ll love the fact that this oscillator is here.

Mobile app

If you can’t provide your clients with a way to trade on the go, you’re not doing a very good job as a broker. Olymp Trade is well aware of that, which is why they have an excellent mobile app you can download for free. Both iOS and Android users can download it (App Store and Google Play are the places to go for that), but what is particularly impressive is the fact that this app was downloaded more than five million times so far. Most traders gave it very positive reviews, primarily because all the main features of the desktop platform are still there – your potential profit can still go up to 90% (if you’re a VIP), plus you get loads of educational materials and the ability to react instantly to any market change, thanks to the high-speed quotes.

Like we already said, Olymp Trade has developed its own trading software, so this app is fairly unique in the industry. Your mobile trading experience will therefore definitely be first-class, plus you will be able to easily ask for assistance if you need it. In short, you will have access to everything you need with just a tap on your touchscreen, but this is not the only feature the company has on its website that can change the way you trade. Olymp Trade review continues below.

VIP account

You can also receive trading signals from the broker if you need some help in finding the right opportunity. However, these signals are a part of the Olymp Trade VIP package which contains a lot of other goodies in addition to that. Like we already said, VIP members have their potential profit from a trade increased to 90% (other traders are at 80%) and can also contact their own personal consultant who can help them out with their investment. On top that, you can also get some risk-free trades and access to special webinars where you can expand your knowledge and pick up tips from real trading experts.

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But how can you become an Olymp Trade VIP member? Simple, just make a deposit of at least 2000 USD and your account will automatically be upgraded to this status. Considering that other brokers often ask for much more, sometimes even tens of thousands of dollars for this, we think this is a pretty fair deal. Besides, with risk-free trades and increased profits there’s an increased chance you’ll be able to get your investment back quickly. To do that, you will have to initiate the withdrawal process, so why don’t we see how that works on this website? That will be the next stop in our Olymp Trade review.

How to withdraw

Withdrawal is a process that simply has to go smoothly if a broker is to survive in the industry. There can be absolutely no problems with traders’ money and this means that there are certain procedures that have to be respected. By this we primarily mean the account verification process, which is implemented by all serious companies, including Olymp Trade. It will take one day for your documents (some sort of photo ID, a proof of residence…) to be processed. Our Is Olymp Trade a Scam article has everything you need to know about the security here, but to keep things short, you have nothing to worry about.

To initiate an Olymp Trade withdrawal, you have to complete the login and then head on over to the Withdrawal section of your Dashboard. Don’t forget that you can only withdraw money through the same method you used to deposit them and the processing time can be up to five days, although in most cases the requests are approved within 24 hours. The available methods include Qiwi, Yandex, Neteller, Skrill, Fasapay, Webmoney and bank cards, whereas bank transfers are only available in certain regions. Just like with the deposit, Olymp Trade charges no withdrawal fees either, which can turn out to be quite an advantage.

Furthermore, the minimum withdrawal requirement is just 10 USD or EUR, so we can safely say that this broker is one of the most flexible ones you can find in this industry, especially because there is no maximum withdrawal limit you need to worry about. With that, we think we have covered pretty much everything we needed to mention when it comes to this company’s financial requirements. Next up in our review, we have a way for you to trade without any risk and to expand your knowledge. Don’t go away!

Demo account

No serious broker will leave you without the possibility to test out their platform for yourself. It is a way the company can show you it has nothing to hide. You have the possibility of doing that here too if you decide to open your Olymp Trade demo account. Actually, you don’t exactly open a demo account per se – just sign up with the broker and the practice version of you account will be accessible right away. You don’t even have to make a deposit. Once you complete the registration process, you will immediately receive 10,000 virtual USD with which you can then open virtual trades to test out your strategies.

You can, of course, also explore all the opportunities this unique trading software offers and see how it works, all without any strings attached. This is also an excellent tool if you want to learn about trading, but it’s not the only way you can expand your trading knowledge. We have more on that in the next part of this guide on Olymp Trade.

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Strategies and education

It’s not necessary for a broker to have a detailed section on education, but it does help a lot. From that, you can see how far a company is willing to go to help its clients. Olymp Trade education consists of three different parts: strategies, indicators and webinars.

The first two are actually hybrids between presentations and videos and can help you a lot if you’re a beginner because they keep things nice and simple, especially when it comes to the language they use. All the most important topics are covered, so you can get everything you need on things like MACD, RSI, the Japese Pearl, market sentiment and more. After you go through that, you should be able to come up with your own Olymp Trade strategy or simply modify one of the existing ones to suit you better.

If you want to take things one step further, however, webinars are the way to go. The website has a decent archive of them, plus the broker organizes new ones every now and again, so stay alert if you want to participate in one. As usual, these are led by a trading expert who will tackle some of the most important issues and give you some nice tips on how to behave when an opportunity arises.

Olymp Trade also has a YouTube channel with videos in several different languages. Fortunately, the tutorial videos there are all in English, so everyone should be able to understand them. But the fact that multiple languages are available brings us to the next part of Olymp Trade review. However, there is one other thing we have to go through first. Stick around, there is much more interesting info heading your way.

Success stories

When examining a broker, we always try to make contact with people who trade there in order to get a second opinion and see whether or not our impression checks out. Sometimes we come across a testimonial that’s worthy of sharing with you, but generally speaking we have learned what to expect if a broker is legit. You’ll never get perfect reviews, but if an overwhelming majority of people you talk to says pretty much the same, you can get a pretty solid idea of what to expect.

To be perfectly honest, we did not come across any Olymp Trade success stories that look like they came out of a movie. We never came across a trader who invested a dollar or two and then became a millionaire shortly after. No, the feedback we got was much more down-to-earth. Simply, those traders who turned out to be profitable knew that all trading carries a certain amount of risk and that it may take some time to start earning significant profit. They were patient and it paid off. But the most important thing to take from all of that is that Olymp Trade is fair and that it will treat you so. Their software runs smoothly and without any glitches, and your money is handled professionally on every occasion.

True, we did encounter a testimony or two saying they didn’t like trading here, but comments like that were pretty rare and did not seem to fully understand the concept of online trading. Because of that and because of everything else you can see in this article, we have to side with the traders who are positive about this company. But if you need more proof, just continue with Olymp Trade review because we have more to tell you.

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Support

If you want to fully focus on your trades, you have to be able to rely on the support team when you need help or information. Fortunately, Olymp Trade customer care is absolutely superb, with some very professional individuals standing by to provide assistance. A contact number is clearly stated on the website, but you can also use e-mail or the e-mail form the broker has setup on its support page. But an even quicker way to get the information you need is via Olymp Trade live chat. A consultant will be there with you very quickly, so you will be able to sort everything out in a flash. There is even a detailed FAQ section (in this case it’s called Knowledge Base) with almost 50 questions answered, which is perhaps an even faster way to resolve things if you know exactly what you’re looking for.

You can also use social networks as contact methods. We already mentioned the broker’s YouTube channel, but they are also active on Facebook and Google+. Please also remember to check out the legal information because that part of the website is really well written and clearly shows how things work around here. That’s just one of the reasons this company is popular all over the world. Want to know which countries are accepted? This Olymp Trade review has even that!

Accepted countries

Not all countries are always accepted by all brokers, primarily because of the legislation they have concerning online trading. Fortunately, Olymp Trade is present pretty much all over the world. For example, the broker is extremely popular in Nigeria, Brazil, India, Indonesia and Malaysia, many of which also can access videos and educational materials in their own language (Brazilian Portuguese and Hindi are especially good examples of that). Other notable countries with strong communities of Olymp Trade traders include, but are not limited to Russia, South Africa, Kenya and the Philippines.

Unfortunately, Olymp Trade does not accept traders from the United States at the moment, which is a consequence of the country’s legal practice. This isn’t something that targets this particular company, but this kind of brokers simply cannot operate in this particular country at the moment. The same goes for the European Economic Area, so if you are from western or central Europe, the chances are you won’t be able to trade here. With that, we believe we have now covered pretty much everything you need to know, so it’s time to wrap things up with a conclusion. If you want a list of the most important things you need to take away from this, everything is just below.

Conclusion

And that’s pretty much everything this Olymp Trade review had to cover. If you like trading options, this is definitely a company to consider. Low financial requirements certainly are something that will attract many people, but there are other features worthy of your attention. The company itself created the trading software used here, and it also comes as a great mobile app. Furthermore, the amount needed to become a VIP member is also fairly low, which means you can access trading signals, increased profits and other interesting goodies rather effortlessly. Naturally, you can also test everything here without any risk and educate yourself without any additional charges, and even if you need any assistance the support team will always be there for you. Finally, let’s not forget the fact that you can get some pretty nice bonuses here too, which is definitely another ace in the sleeve for this broker. But enough talk – it’s time to start trading. Open an account with Olymp Trade and dive into the exciting world of online trading.

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