Olymp Trade
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| Leverage | 1:500 |
| Minimum Deposit | $10 |
| Regulation | FinaCom |
| Year Established | 2014 |
| Payment Methods | Bank Transfer, Credit/Debit Cards, Skrill, Neteller, WebMoney |
| Trading Assets | Forex, Commodities, Indices, Cryptocurrencies, Stocks |
| MT4 | ✅ |
| MT5 | ✅ |
| Spreads | Low |
| Average cost: EUR/USD | 0.5 pips |
| Demo Account | ✅ |
| Islamic Account | ✅ |
| CopyTrading | ✅ |
| ZuluTrade | ❌ |
| Scalping | ✅ |
| Signals | ✅ |
| EAs/Robots | Available |
| Negative Balance Protection | Yes |
| Deposit Fee | ❌ |
| Withdrawal Fee | ❌ |
| Contact Information | Email: [email protected], Phone: +44 20 3318 7173 |
| Address | 103 Sham Peng Tong Plaza, Victoria, Mahe, Seychelles | Rating | ★★★★☆ 4.2 |
| Website |
Pros and Cons
- Low minimum deposit
- Wide range of payment methods
- User-friendly platform
- Comprehensive educational resources
- 24/7 customer support
- Limited regulatory oversight
- No ZuluTrade support
- Withdrawal limits on certain accounts
- Higher spreads on exotic pairs
- Limited advanced trading tools
Introduction
Olymp Trade is a prominent online trading platform that has become a preferred choice for many traders globally since its inception in 2014.
This comprehensive review aims to provide a detailed analysis of the platform, including its features, trading instruments, customer support, regulatory status, and more.
The goal is to offer a thorough understanding of what it offers and how it stands out in the competitive landscape of online trading.
Create a Free AccountCompany Overview
Background and History
Founded in 2014, Olymp Trade has grown significantly, positioning itself as a trusted name in online trading.
The platform is managed by Saledo Global LLC, located in St. Vincent and the Grenadines.
It operates under the regulatory oversight of the International Financial Commission (FinaCom), ensuring adherence to high service standards and providing client protection through a compensation fund.
Global Reach and Language Support
Olymp Trade boasts an extensive global reach, catering to traders from over 130 countries.
The platform is multilingual, supporting languages such as English, Russian, Thai, Portuguese, Spanish, French, Korean, Arabic, and many more.
This linguistic diversity ensures that users from different regions can engage with the platform in their native languages, enhancing their trading experience.
Key Statistics
The platform’s popularity is evident from its impressive statistics:
- 88M+ Trader Accounts: Demonstrating a large user base.
- 30M+ Monthly Transactions: Highlighting high trading activity.
- $16M+ Average Monthly Payouts: Reflecting significant trader earnings.
- $211M Monthly Trade Turnover: Indicating a robust trading environment.
Trading Instruments
Olymptrade offers a wide array of trading instruments, allowing users to diversify their portfolios and explore different markets.
Forex Trading
Forex trading is one of its core offerings.
The platform provides access to numerous currency pairs, including major pairs like EUR/USD, GBP/USD, and USD/JPY, as well as minor and exotic pairs.
This wide selection caters to both conservative and risk-seeking traders.
The platform supports different trading strategies, such as scalping, day trading, and swing trading, making it versatile for various trading styles.
Stocks
Olymp Trade allows traders to buy and sell stocks from major companies worldwide.
This feature enables users to invest in the equity markets and benefit from price movements of well-known corporations.
The platform offers a straightforward interface for stock trading, making it accessible for both new and experienced traders.
Fixed Time Trades (FTT)
Fixed Time Trades are a distinctive feature of Olymptrade, offering a simple and intuitive way to trade.
In FTT, traders predict the price movement of an asset within a specified timeframe, ranging from one minute to several hours.
This trading mode is ideal for beginners due to its straightforward nature and predefined risk and reward structure.
Commodities and Indices
This broker provides access to trading in commodities such as gold, silver, and oil, and major indices like the S&P 500, NASDAQ, and Dow Jones.
Trading these instruments allows users to hedge against market volatility and diversify their investment portfolios.
Cryptocurrencies
With the increasing popularity of digital currencies, it also includes cryptocurrencies in its list of tradable assets.
Users can trade popular cryptocurrencies like Bitcoin, Ethereum, and Litecoin.
This inclusion caters to traders looking to capitalize on the volatility and potential high returns of the crypto market.
Comparative Table of Trading Instruments
| Instrument | Examples | Trading Mode | Target Audience |
|---|---|---|---|
| Forex | EUR/USD, GBP/USD, USD/JPY | Spot, Margin | All traders |
| Stocks | Apple, Google, Amazon | Spot | Investors, long-term traders |
| Fixed Time Trades | Various assets | FTT | Beginners, short-term traders |
| Commodities | Gold, Silver, Oil | Spot | Hedgers, diversified investors |
| Indices | S&P 500, NASDAQ, Dow Jones | Spot | Portfolio diversifiers |
| Cryptocurrencies | Bitcoin, Ethereum, Litecoin | Spot | Risk-tolerant traders |
Trading Platforms
Olymptrade offers multiple trading platforms to cater to the diverse needs of its users.
Each platform is designed to provide a seamless trading experience, whether users are trading from a desktop or on the go.
Web Platform
Their web platform is highly intuitive and user-friendly.
It provides a range of tools and features suitable for both novice and experienced traders.
Key features include:
- Advanced Charting Tools: Multiple chart types, technical indicators, and drawing tools for detailed market analysis.
- Customizable Interface: Users can tailor the layout, color scheme, and display settings to suit their preferences.
- Real-Time Data: Live price feeds and market news keep traders informed of the latest market developments.
Mobile Apps
Olymptrade offers mobile apps for both Android and iOS devices, ensuring that traders can manage their accounts and execute trades from anywhere.
The mobile apps are optimized for performance and user experience, featuring:
- Smooth Navigation: Easy access to trading tools and account management features.
- Push Notifications: Alerts for market movements, trade executions, and other important updates.
- Security Features: Biometric login options and secure transaction processes.
Desktop Platform
For traders who prefer a more robust trading environment, it provides desktop applications for Windows and macOS.
The desktop platform offers enhanced features, including:
- Faster Trade Execution: Reduced latency and quick response times.
- Advanced Analytical Tools: Comprehensive technical analysis tools and customizable charts.
- Stable Performance: Reliable and consistent performance for intensive trading activities.
Comparative Table of Trading Platforms
| Platform | Features | Best For |
|---|---|---|
| Web Platform | Advanced charting, customizable interface, real-time data | All traders |
| Mobile Apps | Smooth navigation, push notifications, security features | On-the-go traders |
| Desktop Platform | Faster trade execution, advanced analytical tools, stable performance | Serious traders, technical analysts |
Account Types
Olymptrade offers different account types to cater to the varying needs and experience levels of traders.
Each account type provides unique benefits and access to specific features.
Demo Account
The demo account is a free feature that allows users to practice trading with $10,000 in virtual funds.
This account type is ideal for beginners who want to learn the basics of trading without risking real money.
It is also useful for experienced traders who wish to test new strategies in a risk-free environment.
Standard Account
The Standard Account requires a minimum deposit of $10 and provides access to all trading instruments and features on the platform.
This account is suitable for most traders, offering:
- Low Minimum Trade Amount: Start trading with as little as $1 per trade.
- Full Access to Trading Instruments: Trade Forex, stocks, commodities, indices, and cryptocurrencies.
- No Deposit or Withdrawal Fees: Maximize your profits without worrying about additional costs.
Islamic Account
The Islamic Account is designed for traders who adhere to Islamic principles.
This account type complies with Sharia law by not charging swap or interest fees on overnight positions.
It provides the same features as the Standard Account but without any interest-bearing activities.
Expert Account
The Expert Account is tailored for advanced traders who require additional features and benefits.
To qualify for this account, traders need to deposit a minimum of $2,000.
Benefits include:
- Higher Payout Rates: Increased profitability on trades.
- Personal Account Manager: Dedicated support and personalized trading advice.
- Exclusive Trading Strategies: Access to advanced strategies and insights.
Comparative Table of Account Types
| Account Type | Minimum Deposit | Key Features | Best For |
|---|---|---|---|
| Demo Account | $0 | $10,000 virtual funds, practice trading, test strategies | Beginners, strategy testing |
| Standard Account | $10 | Low trade amounts, full access to instruments, no fees | Most traders |
| Islamic Account | $10 | Complies with Sharia law, no swap/interest fees | Muslim traders |
| Expert Account | $2,000 | Higher payouts, personal account manager, exclusive strategies | Advanced traders |
Fees and Commissions
Understanding the fee structure is crucial for traders to maximize their profitability.
Olymptrade offers competitive fees, ensuring cost-effective trading.
Spreads
Olymp Trade charges competitive spreads on its trading instruments.
For example, the average spread for the EUR/USD pair is approximately 0.5 pips.
These low spreads make trading more affordable, particularly for high-frequency traders.
Deposit and Withdrawal Fees
One of its significant advantages is its no-fee policy for deposits and withdrawals.
Traders can deposit and withdraw funds without incurring additional costs, allowing them to keep more of their profits.
Inactivity Fee
Olymp Trade charges an inactivity fee of $10 per month if an account remains dormant for more than 180 days.
This fee is designed to encourage active trading and ensure that unused accounts do not remain idle indefinitely.
Comparative Table of Fees
| Fee Type | Amount | Description |
|---|---|---|
| Spreads | 0.5 pips (EUR/USD) | Competitive spreads for various trading instruments |
| Deposit Fee | $0 | No charges for depositing funds |
| Withdrawal Fee | $0 | No charges for withdrawing funds |
| Inactivity Fee | $10/month | Charged if the account is inactive for more than 180 days |
Customer Support
Effective customer support is essential for a smooth trading experience.
The company excels in providing robust customer support to its users.
Availability and Accessibility
Olymptrade offers 24/7 customer support to ensure that traders can get assistance whenever they need it.
The support team is accessible through multiple channels, including:
- Email Support: Traders can send their queries to [email protected].
- Phone Support: Direct support via phone at +44 20 3318 7173.
- Live Chat: Instant support through the platform’s live chat feature.
Multilingual Support
Recognizing its global user base, it provides customer support in multiple languages.
This multilingual support ensures that traders from different regions can communicate effectively with the support team in their native language, enhancing the overall support experience.
Educational Resources
Olymp Trade is committed to educating its traders.
The platform offers a wide range of educational resources to help traders strengthen their skills and make informed trading decisions.
These resources include:
- Video Tutorials: Step-by-step guides on using the platform and understanding trading concepts.
- Webinars: Live sessions with experienced traders and market analysts covering various trading topics.
- Articles: In-depth articles on market analysis, trading strategies, and financial news.
- Trading Strategies: Access to tested trading strategies that traders can implement in their trading activities.
Security and Regulation
Regulatory Status
The company is regulated by the International Financial Commission (FinaCom), providing a level of security and trust for traders.
FinaCom ensures that the platform adheres to strict standards of service and offers protection through its compensation fund.
This regulatory oversight is crucial for ensuring the platform operates transparently and ethically.
Security Measures
Olymptrade employs advanced security measures to protect user data and funds.
These measures include:
- SSL Encryption: Secure Socket Layer (SSL) encryption to protect sensitive information during transactions.
- Two-Factor Authentication (2FA): An additional layer of security to prevent unauthorized access to user accounts.
- Regular Security Audits: Continuous monitoring and regular audits to ensure the platform’s security infrastructure is robust and up-to-date.
User Experience
Platform Usability
Olymptrade is renowned for its user-friendly interface, making it accessible to traders of all experience levels.
The platform’s layout is clean and organized, with essential tools and information readily accessible. Key usability features include:
- Easy Navigation: Intuitive menu structure and quick access to trading tools.
- Customization Options: Ability to tailor the interface to individual preferences.
- Interactive Tutorials: Onboarding tutorials to help new users get started quickly.
Performance and Reliability
The platform ensures fast trade execution and minimal downtime, which is crucial for traders who need to react quickly to market changes.
The mobile and desktop apps are optimized for performance, providing a seamless trading experience across all devices.
Promotions and Bonuses
Olymp Trade offers various promotions and bonuses to attract new traders and reward existing ones.
These promotions enhance the trading experience and provide additional value to users.
Welcome Bonuses
New traders can take advantage of welcome bonuses offered.
These bonuses may include deposit bonuses, where the platform matches a percentage of the initial deposit, and risk-free trades, allowing traders to make a certain number of trades without risking their capital.
Loyalty Programs
Olymptrade has a loyalty program that rewards active traders.
The program offers various benefits, such as higher payout rates, personal account managers, and exclusive trading strategies.
Traders can earn loyalty points through their trading activities, which can be redeemed for rewards.
Competitions and Contests
To engage its user base, the broker frequently hosts trading competitions and contests.
These events offer traders the chance to win cash prizes, bonuses, and other rewards.
Participating in these competitions can also provide valuable trading experience and foster a sense of community among traders.
Educational Content
Trading Academy
Its Trading Academy is a comprehensive resource for traders looking to enhance their knowledge and skills.
The academy offers courses on various trading topics, from basic concepts to advanced strategies.
The content is presented in a structured format, making it easy for traders to follow and learn at their pace.
Webinars and Live Events
The broker regularly conducts webinars and live events to provide real-time education and market insights.
These sessions are hosted by experienced traders and market analysts, covering a wide range of topics, including market analysis, trading strategies, and risk management.
Webinars are interactive, allowing traders to ask questions and engage with the presenters.
Blog and Market News
Their blog is another valuable resource for traders.
It features articles on market trends, trading tips, and in-depth analyses of various trading instruments.
The blog is updated regularly, ensuring that traders have access to the latest information and insights.
Additionally, the market news section provides real-time updates on economic events and market developments, helping traders stay informed.
Comparative Table of Educational Resources
| Resource | Content Type | Best For |
|---|---|---|
| Trading Academy | Structured courses | All traders |
| Webinars | Live, interactive sessions | Traders seeking real-time insights |
| Blog | Articles, market news | Traders looking for latest information |
| Market News | Real-time updates | Traders focusing on fundamental analysis |
Social Trading and Community
Copy Trading
Olymptrade offers a copy trading feature that allows traders to follow and copy the trades of successful traders.
This feature is particularly beneficial for beginners, as it provides an opportunity to learn from experienced traders and potentially profit from their strategies.
Copy trading also fosters a sense of community and collaboration among traders.
Social Media and Forums
The company has an active presence on social media platforms like Facebook, Instagram, Twitter, and YouTube.
These channels provide traders with updates, educational content, and the opportunity to engage with their community.
The platform also has dedicated forums where traders can discuss strategies, share experiences, and seek advice from fellow traders.
Comparative Table of Social Features
| Feature | Description | Best For |
|---|---|---|
| Copy Trading | Follow and copy trades of successful traders | Beginners, collaborative traders |
| Social Media | Updates, educational content, community engagement | All traders |
| Forums | Discussion of strategies, sharing experiences | Traders seeking peer advice |
Trading Tools and Features
Charting Tools
Olymptrade offers a range of charting tools to help traders analyze the markets.
These tools include various chart types (line, candlestick, bar), technical indicators (moving averages, RSI, MACD), and drawing tools (trend lines, Fibonacci retracements).
The platform’s advanced charting capabilities enable traders to conduct detailed technical analysis and make informed trading decisions.
Trading Signals
To assist traders in making profitable trades, Olymptrade provides trading signals.
These signals are generated by professional analysts and are based on technical and fundamental analysis.
Traders can use these signals to identify potential trading opportunities and enhance their trading strategies.
Economic Calendar
The economic calendar is an essential tool for fundamental analysis.
It provides a schedule of upcoming economic events, such as central bank meetings, employment reports, and GDP releases.
Traders can use this information to anticipate market movements and plan their trades accordingly.
Risk Management Tools
Risk management is a critical aspect of trading, and Olymp Trade offers several tools to help traders manage their risk effectively.
These tools include stop-loss and take-profit orders, which allow traders to set predetermined levels at which their trades will be closed automatically.
Additionally, the platform offers trailing stop orders and negative balance protection, ensuring that traders do not lose more than their account balance.
Comparative Table of Trading Tools
| Tool | Description | Best For |
|---|---|---|
| Charting Tools | Various chart types, technical indicators, drawing tools | Technical analysts |
| Trading Signals | Signals based on technical and fundamental analysis | Traders seeking guidance |
| Economic Calendar | Schedule of upcoming economic events | Fundamental analysts |
| Risk Management Tools | Stop-loss, take-profit, trailing stop orders | All traders |
Financial Performance and Metrics
Monthly Transactions and Turnover
Olymptrade processes over 30 million transactions each month, with a monthly trade turnover of $211 million.
These figures highlight the platform’s popularity and the high level of trading activity it supports.
Payouts
Olymp Trade boasts an average monthly payout of $16 million to its traders.
This substantial payout reflects the platform’s ability to generate profits for its users and its commitment to providing a fair trading environment.
Comparative Table of Financial Metrics
| Metric | Value | Description |
|---|---|---|
| Monthly Transactions | 30M+ | High level of trading activity |
| Monthly Trade Turnover | $211M | Robust trading environment |
| Average Monthly Payout | $16M | Significant trader earnings |
Regulation and Compliance
Regulatory Body
The company is regulated by the International Financial Commission (FinaCom).
This regulatory body provides an additional layer of security for traders, ensuring that the platform operates transparently and adheres to strict standards of service.
FinaCom also offers a compensation fund of up to $20,000 per claim, providing financial protection to traders in case of disputes.
Compliance and Legal Information
Olymp Trade operates in compliance with international financial regulations.
The platform’s legal information, including its terms of service and risk disclosure, is readily available on its website.
This transparency helps build trust with traders and ensures that they are aware of the risks and responsibilities associated with trading.
Comparative Table of Regulatory Features
| Feature | Description | Benefit |
|---|---|---|
| Regulatory Body | International Financial Commission (FinaCom) | Ensures transparency and strict service standards |
| Compensation Fund | Up to $20,000 per claim | Financial protection for traders |
| Compliance Documents | Terms of service, risk disclosure | Builds trust and ensures awareness |
Prospective Future Developments
Technological Advancements
As technology continues to evolve, it is likely to integrate new features and tools to enhance the trading experience.
This could include advancements in artificial intelligence and machine learning, which can provide more accurate trading signals and personalized trading strategies.
Market Expansion
Their commitment to supporting traders from over 130 countries indicates a potential for further market expansion.
The platform may continue to increase its global reach, offering more localized support and services to cater to the diverse needs of traders worldwide.
Regulatory Enhancements
While the company is currently regulated by FinaCom, the platform may seek additional regulatory approvals from other reputable financial authorities.
This would enhance its credibility and provide greater security for traders.
Comparative Table of Future Developments
| Development | Potential Impact | Benefit |
|---|---|---|
| Technological Advancements | Enhanced features and tools, AI and ML integration | More accurate signals, personalized strategies |
| Market Expansion | Increased global reach, localized support | Better service for diverse traders |
| Regulatory Enhancements | Additional regulatory approvals | Enhanced credibility and security |
Conclusion
Olymp Trade is a comprehensive and user-friendly trading platform that caters to traders of all experience levels.
With a wide range of trading instruments, competitive fees, robust educational resources, and a strong focus on customer support, it provides a reliable and efficient trading environment.
Its commitment to regulatory compliance and continuous improvement makes it a trustworthy choice for traders looking to achieve their financial goals.
In summary, Olymptrade stands out in the online trading industry due to its:
- Wide Range of Trading Instruments: Forex, stocks, commodities, indices, and cryptocurrencies.
- User-Friendly Platforms: Web, mobile, and desktop platforms with advanced charting tools and customization options.
- Comprehensive Educational Resources: Trading Academy, webinars, blog, and market news.
- Robust Customer Support: 24/7 multilingual support through email, phone, and live chat.
- Regulatory Compliance: Regulated by FinaCom with additional security measures.
Whether you are a beginner looking to start your trading journey or an experienced trader seeking advanced tools and features, it offers a versatile and supportive platform to meet your needs.
Visit official website: www.olymptrade.comFAQ
Is Olymp Trade regulated?
Yes, the company is regulated by FinaCom, an independent regulatory organization.
What is the minimum deposit?
The minimum deposit is $10.
What trading platforms are available?
Olymptrade supports MT4 and MT5 trading platforms.
Does it offer a demo account?
Yes, Olymptrade offers a demo account for practice trading.
Are there any withdrawal fees?
No, the broker does not charge any withdrawal fees.
Can I use automated trading tools?
Yes, it supports EAs/Robots for automated trading.
What customer support options are available?
Olymp Trade offers 24/7 customer support through email and phone.
Resources
User Reviews
Article written, edited and reviewed by
Adam Rosen
Adam Rosen is a seasoned senior marketer whose expertise extends far beyond the norm. Drawing from decades of experience in the industry, Adam plays an integral role in our team, infusing his insights into every project we tackle. But that's not all – Adam has a unique knack for breaking down complex broker information and crafting insightful reviews for our website, Brokfolio. His dedication to providing readers with valuable insights and guidance makes him an invaluable asset to our team. Beyond his professional pursuits, Adam is fueled by an unwavering passion for technology and fintech. He thrives on pushing boundaries and exploring new horizons in these dynamic domains. Curious to learn more about the mind behind the words? Dive into Adam Rosen's profile to discover a wealth of expertise, innovation, and a relentless drive for excellence.
Andrew Blumer
Andrew Blumer is a finance pro who's got money matters down to a science.
Back in the day, he schooled at Belmont Hill School in Belmont, MA. Then, he took a swing at Harvard College, bagging a BA degree in economics. And that wasn't enough for him – he also nailed an MBA from Harvard Business School in '98.
But hold on, there's more to this financial nerd.
Andrew's been causing ripples in the fintech world for a while now. In fact, he's the mastermind behind Brokfolio, a platform that's all about making trading on financial markets crystal clear and super accessible.
Oh, and did we mention? He's the manager of Brokfolio's website and an expert in online brokers. So, if you're diving into the world of trading, Andrew's your go-to guy.
For more on his financial escapades, head over to his LinkedIn profile. Trust us, his journey is worth a read!
Emily Clark
Emily Clark is our superstar who kicked off her journey as a content whiz and proofreading ninja, focusing on all things finance and tech.
As our team grew, Emily's role blossomed big time. She became the go-to rockstar, an absolute must-have player in our squad, making our growth story rock.
Emily's work ethic? Oh, it's like a caffeine-fueled engine, chugging away with laser-sharp precision. Seriously, without her juggling skills, our growth wouldn't have hit turbo mode.
But here's the cool part – Emily isn't just words and commas. She's got this uncanny radar for brokers and trading know-how. It's like she's got insider info on these money-making worlds.
Currently Emily's holding the senior editor crown, keeping tabs on content from our awesome team.
Last updated: September 5, 2024
