Olymp Trade is an online trading platform that offers investors many effective profitable opportunities. However, many traders still do not understand the information related to this exchange. They often wonder if this exchange is reputable or not? How to make money on this platform in the most effective way? Let’s find out what Olymp Trade is with TraderForex? The most detailed review of Olymp Trade to answer your questions.
What is Olymp Trade?
To understand what Olymp Trade is? Learn the concept of Olymp Trade right here.
concept.
Olymp Trade Concept
Olymp Trade is one of the binary options trading platforms with the nature of evaluating and offering financial products such as currencies, stocks, indices … in a volatile time based on continuous price fluctuations. Financial traders, investors perform the task of predicting and deciding whether to increase or decrease the price. If you can predict the results correctly, you will get a lot of profit to the ratio of trading volume, but if you predict wrong, of course you will suffer a similar loss.
The nature of Olymp Trade is similar to Binomo and IQ Option, both creating conditions for investors to choose, players can receive profits through predicting the price trend up or down in 1 minute. , 5 minutes, 15 minutes or 30 minutes. You can also understand, this process depends on many factors of chance like betting or dice.
What are binary options?
As you know, Olymp Trade is a binary rights platform, which means that the trading platform where investors will have to choose 1 of 2 only forms Up/Down or Up/Down within the specified time period. Of course, if you make the right decision you will win, and if you make the wrong decision, you will lose. Olymp Trade’s choice of up/down pricing will involve products with certain indices such as stocks, bonds, forex or cryptocurrencies.
However, you should note that binary options online financial trading brokers are quite risky. So you should consider it carefully to decide whether to invest or not because it is associated with a rather sensitive currency asset.
Olymp Trade is an exchange from which country?
Which country is Olymp Trade from? This is an issue that many people care about because investors need to know clearly about the origin and transparency of the exchange. Olymp Trade was established in 2014 in a modern country in the financial sector managed by Saledo Global LLC. Currently, this exchange has been operating in the Vietnamese market for about 6 years.
Achievements Olymp Trade achieved
Although the operating time is not too long like other exchanges, Olymp trade has achieved many significant achievements. Olymp Trade currently operates in more than 134 countries with impressive and admirable numbers such as:
- Up to 25,000+ traders trade every day
- Currently, there are 247,256 investors participating in the transaction
- 37,990,740 successful transactions per month
- Monthly trading volume has a turnover of up to $171,236,104.
So is Olymp Trade a scam trading platform?
Olymp Trade is a legal exchange in Vietnam, but currently there is no legal framework on the form of options. Therefore, no one can confirm whether Olymp Trade is a scam or not, that’s why many people wonder about the credibility of this exchange. Let’s learn about the license to operate and the awards of this broker to gauge your reputation.
License to operate
Olymp trade is licensed to operate and become an official member of the FinaCom International Financial Commission. This is the clearest demonstration of the credibility and quality of the exchange, affirming the position of a trustworthy and honest broker. The Financial Commission will protect traders’ deposits as it builds a “Compensation Fund” with an amount of up to €20,000 and transparent and fast claims settlement.
Awards
Olymp Trade has also affirmed its role and responsibility, its prestige when receiving many prestigious awards:
- In 2016, received the Showfx World award – the most developed broker.
- In 2017, IAFT award – innovative broker, CPA Life Best financial broker.
- In 2018, Le Fonti award – Best forex broker and best community of FB traders in Thailand.
- In 2019, Best Mobile Trading Platform, Best Customer Support Broker Service.
- 2020: The Best Broker to Support Traders”, Best FX Broker at Forex Expo.
Types of accounts Olymp Trade
Olymp trade currently offers traders 3 popular account types such as Starter, Advanced, Expert and demo accounts. Each account has its own distinctive features as follows:
Starter account
The outstanding advantages of Starter:
- Maximum profit up to 82%
- Maximum transaction amount per transaction is 2000$
- Built-in 10 free available indicators
- Support basic instructions and signals from experts
- Opportunity to open 10 positions at the same time
- Withdrawal orders are quick from only 1-2 days, but Olymp Trade always tries to process orders at the earliest, so about 90% of withdrawal requests will be processed within 24 hours or moved to the next working day.
Advanced account
Outstanding advantages when trading with an Advanced account:
- Minimum deposit per transaction 500$
- Profit rate up to 84% with 2 types of Fixed Time assets
- Quick withdrawal, diverse methods, with simple operation
- Maximum transaction amount 3000$
- Maximum number of transactions 20 positions at the same time
- 7 built-in trading strategies and 6 ready-to-go systems Forex
- Up to 10% off Forex commission
- Use the 11 built-in indicators for free.
Expert account
The outstanding advantages of Expert:
- Minimum deposit amount 2,000 $
- Profit up to 90% when trading with 6 Fixed Time Trades assets
- Trade with limited risk with Fixed Time Trades mode
- Super fast multi-form deposit and withdrawal
- The maximum transaction amount is 5000$ in Fixed Time Trades mode and 4000$ with other Forex modes.
- Opportunity to open 30 positions at the same time
- Trained in personal analysis
- 15 Effective FTT Strategies and 12 Reliable Forex Trading Strategies
- Up to 20% off Forex commission
How to open an account on the Olymp Trade platform
To make Olymp Trade transactions, you first need to have an account and verify the account’s identity. The steps to register an account are as follows:
Create an account
To register for a trading account, you follow 3 basic steps as follows:
Step 1: Access the Olymp website via the link: https://olymptrade.com
Step 2: Click “Register” and receive account creation information: Full name, date of birth, ID/CCCD, email, phone number, etc.
- Stеp 3: Thеn thе Olymp Tradе systеm will vеrify thе account and sеnd you a confirmation lеttеr via еmail. Plеasе accеss thе еmail you providеd to sее thе confirmation mеssagе. Nеxt click on thе link providеd in thе account confirmation to complеtе thе rеgistration.
Verify Olymp Trade trading account
To authеnticatе your Olymp Tradе account, plеasе log in to Olymp Tradе and sеlеct thе 3 dashеs icon on thе lеft of thе scrееn, click Profilе. Nеxt, you pеrform account authеntication by following stеps:
- Stеp 1: Entеr your full and corrеct first and last namе.
- Stеp 2: Entеr thе phonе numbеr and click Confirm Phonе Numbеr, thеn thеrе will bе a codе sеnt to thе phonе numbеr, еntеr thе codе and click Confirm.
Trading operations on Olymp Trade
To make transactions, using all the features integrated at Olymp Trade, you do the following:
- Step 1: Login your verified account to Olymp Trade
- Step 2: Once you have accessed the main interface of the Broker, choose to start trading
- Step 3: This platform will provide traders with a sample account for trial trading with 10 million VND. Once you have mastered trading with the provided template, go back to your original account to make a deposit and make an official transaction.
Trading products on the Olymp Trade platform
Olymp trade offers a variety of trading products with different characteristics divided into 7 main groups to help traders easily trade and bring in high profits such as:
- Forex: 33 major and cross currency pairs
- Commodities: 6 majors such as gold, silver, platinum, copper, oil and natural gas.
- Stocks: 37 stocks of companies such as Amazon, Apple, Facebook,…
- Indicators: 14 indicators such as DAX, CAC 40, FTSE 100…
- ETF: MSCI Bzail 2x, NASDAQ Reversal 2x, P500 Volatility 1.5x, u.s Real Esstate
- Cryptocurrencies: BTC, Litecoin, ETH asic, Altcoin Index.
- OTC: Includes 8 types.
Leverage, commission, spread at Olymp Trade
To make the most effective transactions at this Broker, to maximize the profits possible, learn about the fees at this exchange as follows:
Financial leverage
Leverage ratio from 1:10 to 1:500 depends on different asset classes. Typically, Forex trading leverages from 1:50 to 1:500, metal asset pairs have leverage from 1:20 to 1:50.
Commission
The commission fee at Olymp Trade is relatively competitive in the market, determined based on the amount that the trader invests and the multiplier the trader chooses before making a trade. However, the level specified at the exchange commission will not exceed 15% of the investment amount.
Spread
The spread at the broker depends on the trading platform you choose and the trading product. With Forex and Fixed Time Trade, Olymp Trade does not charge a spread, but at MT4 will calculate the spread corresponding to the trading accounts.
Olymp Trade trading platform
In addition to the preferred trading platform used by users, MT4, Olymp Trade supports trading on 2 platforms, Forex and Fixed Time Trade. With these two trading platforms, investors can trade directly on the website without downloading the application. The salient features you are supported when trading with the platforms Olymp Trade provides are as follows:
- The trading platform is friendly, even novices can use it easily.
- Integrate many useful analysis tools, evaluate the most effective transactions.
- Compatible with many operating systems such as iOS, Android, laptop.
Deposit – withdraw money when joining Olymp Trade
Some methods of depositing and withdrawing money from Olymp Trade to investors to support quick transactions:
- Internet banking: Links with many domestic banks in Vietnam such as Vietcombank, Techcombank, Sacombank, BIDV, Eximbank,…
- Payment Visa/Mastercard
- E-wallets: Momo, Neteller, Card, Tether…
- Cryptocurrencies: Support to withdraw Bitcoin, Ethereum
In particular, when depositing and withdrawing, investors do not need to pay any fees, except for the form of PerFect Money, you will need to pay a fee of 0.5% – 1.99%.
Customer Service Olymp Trade Vietnam
Olymp Trade invests in a thorough, quality customer care service that is professionally trained and fostered to take care of customers most effectively. Professional and dedicated advice department 24/7 in 15 languages. All questions of investors will be answered quickly through the following forms:
- Online chat on website
- Hotline: 1800400478
- Email: [email protected]
Summary of advantages and disadvantages of Olymp Trade
Take a look at the pros and cons of the Olymp Trade trading platform to make the correct decision whether to invest in creating this Broker or not.
Advantages of Olymp Trade
Some outstanding advantages you should not miss:
- Simple, friendly Web interface is still very eye-catching and attractive
- Olymp Trade is licensed and regulated by many large, reputable financial authorities
- Diverse forms of deposit and withdrawal and easy to use, quick and convenient operation.
- Offers a demo account for novice players to trade up to 10000$
- Professional investment and quality, friendly and enthusiastic trader support
- Many technical and analytical tools are integrated to make it easy for customers to make effective price judgments.
Disadvantages of Olymp Trade
In addition, the exchange has some limitations such as:
- Low payout ratio
- The number of assets traders can trade is limited.
FAQ
To better understand the Olymp Trade trading platform, let’s answer the questions below with TraderForex.
In Vietnam, is Olymp Trade legal?
The form of binary options trading is evaluated by many experts with very high risk, but the profit earned when winning is also extremely large, so this trading platform attracts a lot of registered investors. this form of transaction. But currently, no country has made specific regulations related to this business, but it can still operate normal business forms.
In Vietnam, traders can also participate in legal binary options trading including Olymp Trade, Binomo and IQ Option. But the difference between Olymp Trade and the foreign exchange market is that the double options trading market is not under the management and administration of the State Bank.
Is there a strategy to play Olymp Trade that always wins?
Whеn invеsting at any еxchangе, thеrе arе cеrtain stratеgiеs and trading skills to win, thе samе goеs for Olymp Tradе. Invеstors arе rеquirеd to havе a thinking mind combinеd with thе ability to analyzе and judgе thе markеt’s pricе trеnd in thе futurе еffеctivеly.
At thе samе timе, tradеrs also nееd to know how to choosе thе right product to еnsurе thе transactions havе a high probability of succеss and profit. Morеovеr, with binary options brokеr playеrs also nееd luck to win.
Is Olymp Trade a scam or not?
Basеd on thе information providеd abovе, you havе an ovеrviеw of thе Olymp Tradе trading platform and can answеr thе quеstion whеthеr Olymp Tradе is a scam or not. Olymp Tradе is an organization that providеs financial trading products that arе supеrvisеd and rеgulatеd by a rеputablе global financial institution. Thе trading modеl hеrе is profitablе but also comеs with a high lеvеl of risk.
It is worth noting that Olymp Tradе has built a mеthod to protеct thе intеrеsts of tradеrs and commit to compеnsatе customеrs in casе of problеms causеd by еrrors from thе trading platform. This crеatеs trust and pеacе of mind for tradеrs participating in transactions at this platform.
In addition, thе еxchangе also provеs its rеputation whеn it has rеcеivеd many prеstigious industry awards and positivе rеviеws from customеrs. This is a clеar dеmonstration of thе quality and rеliability of this trading platform.
Should you join Olymp Trade or not?
The online currency trading market is an attractive and popular field in Vietnam and many countries around the world with a large community of participants and many people earning significant profits. Olymp Trade is one of the trading platforms worth experiencing. However, before you start, you should learn more about the market and how to trade Forex effectively so that you can confidently participate and consider the risks that may arise.
If you are passionate about challenges and willing to take risks, then Olymp Trade is the right choice for you to explore. The nature of this form of trading relies on a degree of luck and risk rather than analyzing, predicting or evaluating complex information. Your final decision will be based on personal feelings and intuition. However, remember that financial transactions always come with a high level of risk, and learning and carefully preparing knowledge and skills will bring many good opportunities and reduce unwanted risks.
How many accounts does Olymp Trade allow to trade?
At the Olymp Trade trading platform, a trader can own up to 5 interconnected trading accounts. Each account will correspond to the currencies you selected during pre-registration such as EUR, USD, BRL, MXN and THB. Traders will have full control over and apply their own strategies in each account.
Need to install Olymp Trade trading software on PC?
To make trades on Olymp Trade, users are not required to install any software on their personal computer. The Olymptrader online platform allows investors to make trades directly on the web platform without having to install any applications on their phones or computers. However, the exchange also provides many trading software for you to install on your personal device if you want to track transactions more conveniently.
What is a segregated account?
When you deposit money into Olymp Trade’s online trading platform, the money will be transferred directly to a separate account. This account will be managed and controlled by the exchange, but completely independent of the company’s operating funds. This ensures transparency and safety for players. Olymp Trade commits not to use this segregated account for business purposes or other company activities.
Activities at the exchange such as new product or interface development, product maintenance, hedging, or new business strategies will be funded from the company’s main operating fund.
Is there an app for mobile trading?
The Olymp Trade trading application is available for mobile phones, in addition to the online web version. Players can download the Olymp Trade application on both popular operating systems, iOS and Android, to make transactions.
Who can trade with Olymp Trade?
Olymp Trade is one of the globally oriented trading platforms, allowing anyone with the desire to participate in financial transactions online, anywhere. This broker has special recommendations for those who are just starting out in trading. Olymp Trade offers a demo account to test transactions, traders only need to deposit $ 10 to access and get acquainted with the platform without fear of financial risk.
Olymp Trade also provides an educational environment and resources for traders to learn the market, with support from experienced analysts. At the same time, the exchange also regularly organizes seminars on various topics on the platform’s homepage. Many articles on price analysis, market trends and real-time tracking are also provided.
With the information shared by TraderForex in the above article, it will help you understand the operation of Olymp Trade. This is a playground that many traders consider quite interesting and also brings many challenges and great opportunities for participants. If you are looking for a reputable and quality trading platform, consider trading with Olymp Trade.
