Olymp Trade Review 2021: Is Olymp Trade Legit or Scam?
Olymp Trade was established in 2014 and it has become one of the established online brokers. It provides continuous improvement in its services and an easy-to-use and good trading platform for its users. This platform is considered one of the most reputable and popular brokers and has received many forex awards in the trading space.
Olymp Trade Overview
|Headquarters||St. Vincent and the Grenadines|
|Product offered||Trading Platform, Forex Broker, Stocks, Cryptos|
|Minimum Initial Deposit||$10|
|MetaTrader 4 (MT4)||Yes|
|MetaTrader 5 (MT5)||No|
|Trading fees||Varies depending on assest|
|Supported currencies||EUR, USD, CAD, NZD|
|Customer Support||24/7 Support, Email, Phone, Live chat, & Help centre|
It offers great tools, features, educational resources, and great customer service, for its traders. This platform can be used by both new and advanced traders and it offers the highest level of security matching industry standards. It also provides free demo trading where the investors can practice trading before they proceed with live trading. However, read the Olymp Trade review in detail and know all of its services.
What Is Olymp Trade?
Since its inception, the broker has become one of the most reputed online brokers owned by Saledo Global LLC First Floor, First St. Vincent Bank Ltd Building. The broker has its headquarters in St. Vincent and the Grenadines. Olymp is a broker that caters to several millions of users around the world. It provides over 80 plus trading instruments including currencies, shares, indices, cryptocurrencies, and commodities.
Since 2016, Olymp Trade has been a member of FinaCom (the financial commission) even though this broker is not regulated in North America and Europe. Further, the membership is offered only to companies that ensure the protection of their customers by covering up to 20,000 Euros that comes under the framework of the Finacom compensation fund.
Features of Olymp Trade
Here are the few important features of Olymp Trade:-
It offers an array of trading assets in indices, major currency pairs, cryptocurrencies, stocks, commodities, from well-known companies like Microsoft, Apple, and IBM. The platform offers an intuitive interface for inexperienced traders.
Olymp Trade’s minimum deposit to trade on the platform is as low as $10; this helps the traders to proceed with trading on the Olymp Trade website without the need to deposit huge amounts of their own money.
The broker offers different account types like ECN account, extensive training materials for its users, an array of educational materials to help users add value, and supports auto trade on the platform. It also offers webinar sessions, news, analyst help, price charts, an economic calendar, and a large number of tools for successful trading.
As per our Olymp Trade wonderful review, the platform is of high quality, has a great user-friendly and simple user interface. This helps users to auto trade anytime and from anywhere. The platform can be accessed on both mobile and desktop; Expert traders can also access MetaTrader 4 which is supported by this broker.
It offers a mobile trading app; users can make use of this mobile trading platform and it is available in both the versions of Android and iOS, which can be downloaded from the Apple app store and the Google Play Store. The user can download the app and they can trade real money online on the go.
This broker has “Olymp Plus” which is known as the encyclopedia of the different trading information that is offered in an intuitive and simple design. The users are offered exposure to tutorials, financial markets analysis in the form of videos, time-tested strategy, tips on various experts, latest news, and market news and updates.
Services Offered by Olymp Trade
Here is the list of exactly what types of services are offered by the company:-
- As per our review Olymp Trade, this broker is a member of Finacom. Finacom is a regulatory authority, brokers need to comply with its rules and regulations; this ensures that the user’s funds are safe.
- It offers a web platform that can be used on multiple devices like mobile and desktop versions. It also provides the Metatrader 4 trading platform.
- Olymp Trade offers a stop loss or take profit option where the users can reduce the high-level risk of loss and make more profits.
- The users can start trading with Olymp trade with a minimum deposit of $10 and this platform charges a 0% fee on withdrawals and deposits. Investors can also trade FTT(fix time trading) and forex. Although, find out more about various best forex brokers platforms to explore them.
- Olymp trade offers 100% negative balance protection for its users. This system provides two-factor authentication to safeguard the user accounts.
Key Features Offered by Olymp Trade
Here are the few key features offered by the broker:-
As per our review, one of the important things is that the brokerage has attained a positive impression from its clients and it is a Category A member of Finacom; this confirms that the Olymp Trade team has such positive feedback and it is a reliable broker.
This brokerage caters to traders in 194 countries and the platform’s user-friendly interface is supported in 13 languages. Recently this broker has added 30 new assets to its platform. This financial broker has introduced a new reward system known as “Experience Points XP” where it offers its active traders more privileges and perks.
It has a tool named “Profit Line” functionality which helps traders identify the break-even point per trade. It also offers a tool named “Adviser” that analyzes numerous indicators as per the trading strategies for its trading community.
It offers a simple and smooth user experience and the user can trade using any device whether they would like to trade using a desktop or a mobile. The platform is custom-built and it can adapt itself with any device and switching is 100% effortless.
The broker provides a demo account with 10,000 virtual funds for its users to learn and practice. They can also customize the platform by using unique tools to hone their trading skills.
The major advantage is it offers a personal manager where the users can get one-on-one guidance exclusively from trading expert advisors for investments. The support team of the broker is very convenient and can be contacted 24×7. Users can contact them through online chat or email and the queries are answered within a short time.
The website offers its support in multilingual languages that include English, Russian, Thai, Portuguese, Indonesian, Turkish, Spanish, Chinese, Vietnamese, Arabic, Malaya, and Hindi. It also offers advanced chart options and…