Olymp Trade Review 2021

In the Olymp Trade 2021 review, you will find out the whole truth about the online trading and investment platform for Fixed Time Trades and Forex. We also disclose whether the broker is legal or scam, as well as all the pros and cons.

Above all, it should be said that Olymp Trade is a world famous online trading platform founded in 2014. The broker provides a wide range of trading options, for example, it allows you to trade Fixed Time Trades and CFDs on forex, stocks, commodities, indices, ETFs, cryptocurrencies, OTC.

OlympTrade provides excellent trading conditions for both beginners and experienced traders. The broker provides a free demo account, deposit bonuses and introductory education. In general, the broker is developing very quickly. More than 70 million people (!) are currently registered on this investment platform.

But is OlympTrade a legal broker or is it a scam? You will find out now.

Trading conditions on OlympTrade

So, what is the investment platform in 2021? During the 8 years of works, broker has changed a lot.

Is Olymp Trade a safe and legal broker or a scam?

So, is Olymp Trade a safe and legal broker or a scam? Is the broker honest and reliable for FTT and Forex trading?

OlympTrade is a member of the Financial Commission Category A. In case of disputable cases and evidence of the broker’s guilt, the Financial Commission guarantees up to $ 20,000 in payments to the trader in each case.

Membership in FinaCom is received only by reliable and honest companies that have repeatedly proven the high quality of their services, and still provide it.

This is what the Financial Commission writes about itself. What is it really?

Actually, the Financial Commission is a non-governmental organization. Any company that makes an entry fee can join it. Finacom does not conduct any serious checks on the financial activities of companies.

The Financial Commission is not guided by any legislation when making decisions, therefore FinaCom does not deserve special trust. But it’s better than nothing because Fixed Time Trades is not regulated by a government agency.

OlympTrade has been operating for over 8 years. During this time, there were no serious complaints or problems with the broker.

In fact, Olymp Trade is legal in most countries. The broker withdraws money upon request in a short time, this was confirmed by personal testing of the trade with the broker. Its scam is most often reported by traders who lost their deposit due to inexperience.

In general, our team agrees that Olymp Trade is not a scam. However, brokers of this type are rarely considered safe and reliable due to the lack of highly trusted regulation. There is always a risk. And it is not known if the Financial Commission will actually help in case of fraud.

We also checked the traders’ reviews about the broker, but the overall view of the broker’s reliability as a whole has not changed.

Reviews of OlympTrade’s traders

There are many different reviews of traders about the Olymp Trade broker in 2020-2021. It is worth noting that most of them look more fake than real.

Most of the reviews about the Olymp Trade broker are positive. Above all, traders note the quick withdrawal of funds, the convenience of the trading platform, a large selection of trading instruments and the work of technical support.

However, there are also negative ones. Often these are reviews on OlympTrade from people whose trade hasn’t been successful. But this is not the broker’s fault, most often this is due to the inexperience of traders. There are also complaints about technical support and delays in making trade execution.

As a result of analyzing real reviews on OlympTrade, we can say that many traders are satisfied with trading on this investment platform.

As noted, Olymp Trade is currently the most popular in Indonesia, Thailand, Brazil, India, Vietnam, Egypt, Nigeria and Malaysia, and is also rapidly gaining popularity in Africa.

OlympTrade trading platform and offers

The Olymp Trade trading platform is developed by their own specialists. The platform is very user-friendly, modern and without bugs, and at the same time the interface is intuitive even for beginners. There are enough indicators and tools required for technical analysis.

It’s very easy to start trading because you don’t even need to deposit real funds for this. As soon as you register, you immediately get access to a free demo account for $ 10,000. On the Olymp Trade demo account, you can develop strategies and learn to trade as much as you like.

To trade on a real account with OlympTrade, you need only a deposit of $ 10, the minimum trade is $ 1. In general, orders are almost always opened instantly. Delay is possible only during periods of great volatility when the most important economic news is released, but this is observed with all brokers.

The main features of OlympTrade comparatively to its competitors Binomo and IQ Option are a wider choice of assets and a higher profitability for Fixed Time Trades. Traders are offered about 82+ assets for both FTT and CFD trading, including:

• 35 Forex (EUR/USD, GBP/USD, USD/JPY, AUD/USD, etc.);
• 6 Commodities (Silver, Gold, Brent Oil, Copper, Platinum, Natural Gas);
• 17 Stocks (Amazon, Apple, Facebook, Google, IBM, Tesla, Visa, etc.);
• 14 Indices (S&P 500, NASDAQ, Dow Jones, FTSE 100, etc.);
• 6 Cryptos (Bitcoin, Ethereum, Litecoin, Basic Altcoin Index, ETH/BTC, LTC/BTC);
• 4 ETFs (S&P 500 Volatility 1.5x, MSCI Brazil 2x, U.S. Real Estate, NASDAQ Reversal 2x).

The Olymp Trade review finds that the average profit on FTT is 80-82%, and for the account type with the “Expert” status, it increases to 90-92%. The expiration dates of trades are available from 1 minute to 23 hours. This works well for short-term and intraday trading.

Forex and CFD Trading

Olymp Trade clients are offered forex and CFD trading on 82+ assets.

For Forex and CFDs, you can set a multiplier that allows you to increase the potential profitability of the trade. Using a Multiplier, a trader can open positions for amounts ranging from 10 to 500 times the invested amount. However, the use of a multiplier also increases the risk of losing the invested amount faster if the chart moves in the opposite direction to your forecast.

There are two types of commissions on Olymp Trade Forex and their size depends on the trading asset and the market situation:

• trading commission;
• overnight commission.

The commission is from 0.004% and more. Overnight fees are often much higher. Important: the multiplier increases the trading volume several times, and as a result, the commission too.

For example, we have chosen CFD on Amazon shares, the investment amount is $ 100, the multiplier is 20, the commission is 0.004% and overnight fee is 0.00302%.
Total Commission: 100 X 20 X 0.00004 = $ 0.08.
Total overnight fee: 100 X 20 X 0.000302 = $ 0.6.

So, OlympTrade spreads and commissions are relatively below average. Spreads and commissions differ for trading instruments and also depend on the multiplier.

When trading on OlympTrade Metatrader 4 (MT4), the possible leverage is from 1:30 to 1:400. The minimum amount a trader should have in an account to open a trade depends on the leverage.

Features of the trading platform Olymp Trade.

How to use and work with the trading platform

This section is intended exclusively for beginners and shows how to work with the investment platform.

The trading platform Olymp Trade has also undergone major upgrades during this time. Previously, for trading, you had to open 2 tabs, one of which was used for trading, and the other for technical analysis. Now this is not required since everything can be done from 1 screen of the trading platform.

The image shows the trading platform screen when trading forex. When trading fixed time trades, the view is similar, only there are no take profit / stop loss and a pending order.

To trade Forex with Olymp Trade, you can use metatrader4 (mt4) terminal.

The platform is custom made, has an intuitive interface and works without delays on condition that you have a enough good Internet connection. Trading is available around the clock, 7 days a week, the profitability of some fixed trading assets varies during the day. The platform and technical support are multilingual, the language can be changed in the advanced settings menu (21).

Demo account and trader’s statuses

There are 2 types of accounts for Olymp Trade – demo and standard.
In order to start trading on a demo account, in fact, you only need an email to create an account.

As has been noted, immediately after registering on the official website, OlympTrade provides you with a free demo account for $ 10,000 (replenished for free).

To trade on a real account, you need to make a minimum deposit of $ 10. After that, you will be able to trade on the trading platform with real funds.

Olymp Trade has its own loyalty program for traders, which includes more favorable trading conditions.

Statuses on Olymp Trade is a customer loyalty program. A trader can get Starter, Advanced or Expert status, each of which gives a set of privileges. The higher the status, the more trading privileges a trader has.

Starter – initial status. The basic functionality of the platform gets Starter status, but the maximum return in Fixed Time mode reaches 82%.

Advanced – status with advanced trading capabilities.

Expert is the highest level status with the largest package of privileges.

The easiest way is to top up your account with the required amount:

Starter – from the minimum amount up to $ 499 / € 499.

Advanced – from $ 500 / € 500 amount up to $ 1999 / € 1999.

Expert – from $ 2000 / € 2000.

And you can also upgrade your status for experience points (XP), which are given for making deals on a real account and completing tasks on the Trader’s Path.

Definitely, this status system is very good.

Mobile app

Olymp Trade has proprietary mobile app for Android and iOS devices as well as for PC. It combines all the functionality of a web platform and the ability to trade on the go.

The app can be used in portrait and landscape orientation. In any case, the price chart and additional tabs are conveniently located and everything is clearly visible. As a result, you can quickly open positions in one click with the selected investment amount and expiration period.

So, all trading advisors, indicators, oscillators, strategies and charting tools are available in the OlympTrade trading application, as well as in the web version of the trading platform. Therefore, you have everything you need for technical analysis and the use of various trading strategies.

As mentioned, Olymp Trade provides an opportunity to trade Fixed Time Trades, as well as CFDs on Forex, stocks, crypto, etc. The option to choose between them is available when choosing a trading asset.

So, the broker’s app has won numerous awards, including:

• “Best Mobile Trading Experience” Forex Brokers Award 2019
• “Best Mobile Trading Platform” Global Brand Award 2019

What can be attributed to a minor drawback is the inability to open several trading assets on the panel to quickly switch between them (just like in the web version, but there is a function of two screens).

Download the Olymp Trade App for Android (Google Play) and iOS (Apple Store) from the links below:

You can also download the Olymp Trade app for PC/Laptop (Windows, Mac and Linux) right after registration and login on the official website www.olymptrade.com. It’s completely free, offers uninterrupted 24/7 access and increased stability.

Deposit and withdrawal

OlympTrade offers many ways to deposit / withdraw funds to a trading account. At the same time, the broker does not take any commission for this, and the execution time of orders is usually less than 24 hours.

In addition, the platform provides local deposit / withdrawal methods for each country. For example, UPI and GlobePay are available for India, doku and bank Negara Indonesia are available for Indonesia, boleto and loterica for brazil, and so on.

The following are the methods available in most countries.

Deposit and withdrawal methods

Additional payment methods for some countries.

Olymp Trade has very high-quality technical support, which is always ready to help you with any problems. For this purpose, there are many possible ways to contact OlympTrade technical support:

• Hotline
• Live Chat
• Email
• Online contact forms
• Facebook

How to get a deposit bonus

You can get the Olymp Trade bonus deposit in two ways: after making a deposit to a real account or using a bonus promo code / coupon.

To get a bonus when paying, when choosing a deposit amount, select the “Deposit bonus” option. The minimum deposit to receive the bonus is USD / EUR 500.

• Between 500 and 4999 USD / EUR, you will receive a 30% bonus;
• From 5000 USD / EUR to 15000 USD / EUR, you will receive a 50% bonus.

Olymp Trade issues a first deposit bonus (wellcome bonus) up to 50%.

Olymp Trade promo codes and coupons can be provided directly to your registered email address, as well as in groups on social networks.

Important! Please note that bonuses can be used only if your main deposit falls to 0. If you order a withdrawal of any amount of money, even 10$, all bonuses will be deducted from your account. You can not withdraw bonuses, but you can withdraw the profit gained from bonuses. Bonuses are not a loan, you do not have to pay them back.

Sorry, but there are currently no promo codes available. If you are not registered yet, you will definitely receive a promo code from Olymp Trade for your first deposit.

Research and Education

Olymp Trade specialists make their own analysis of various assets 5 days a week. In their analytics, they rely on graphical analysis and indicator signals, as well as news. And their predictions often come true. This is available in the Insight section. There are also streams on getting statuses faster for beginners and on other topics.

The OlympTrade education section contains articles on the basics of trading, the use of technical and fundamental analysis.

There are articles here on working with popular trading indicators and some FTT strategies. In general, there is enough material to start trading quickly.

Pros and Cons

Conclusion of the Olymp Trade review

The review shows that Olymp Trade is a good choice for fixed time trades. Beginners will be able to easily master FTT and Forex thanks to excellent trading conditions, free demo account and education.

For experienced traders, OlympTrade has special trading conditions and great deals. Starting with an advanced status, you will begin to appreciate all the benefits of this trading platform.

In general, there are a lot of advantages and Olymp Trade. The main disadvantage is the relatively low reliability and safety. The lack of highly trusted government regulation is common in the FTT trading industry. However, the broker also offers CFDs. So, you are at great risk when trading on OlympTrade. Especially when problems arise. The Financial Commission rarely helps in such cases.

At least the broker has been operating since 2014 and has a good reputation. This gives the broker the credit of confidence.

As a result, Olymp Trade ranks second in the ranking of the best FTT brokers in 2021, behind only IQ Option. Although in some aspects OlympTrade is better.

Olymp Trade in Indonesia, Brazil, India

Olymp Trade is legal and works in many countries of the world, it’s most popular in: Indonesia, Brazil, India, Vietnam, Thailand, Egypt, Malaysia, Ukraine, Nigeria, Colombia, Saudi Arabia, Mexico, Singapore and Bangladesh.

For Indonesia only, Olymp Trade has another domain: https://official.olymptrade-east.com

At the moment the broker works with traders from more than 140 countries of the world!

As for the exceptions for countries with which OlympTrade does not work because of their laws or isn’t relevant, these are: Australia, Canada, USA, Japan, UK, European Union (all countries), Israel, Russia, Iran, Iraq, Korea, CAR, Congo, Cote d’Ivoire, Eritrea, Ethiopia, Lebanon, Liberia, Libya, Mali, Mauritius, Myanmar, New Zealand, Saint Vincent and the Grenadines, Somalia, Sudan, Syria, Vanuatu, Yemen, Zimbabwe.

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