Olymp Trade Broker Review 2020

  • Min. Deposit $10
  • Min. Invest $1
  • Return to 100%

 

The Olymp Trade online trading platform is owned and operated by Inlustris Ltd.

Since emerging into the online trading markets in 2014., they have been awarded numerous industry forerunner awards and have been proved right by a 25,000 + traders daily. As of 2016, Olymp Trade has been classified as category A broker of the international Financial Commission. Their indemnification fund is €20,000. Read more about this interesting broker in our Olymp Trade Broker Review.

Olymp Trade Account Features

Olymp Trade offers its customers a full range of financial services within the same account. This account is also necessary for working with MetaTrader 4 software. The platform offers quite reasonable conditions for trading: the minimum deposit amount is $10/€10, the minimum trade amount is only $1/€1. А trade amount starts from 0.01 lot when working with MT4. The choice of currency for trading is made during the account registration process. Customers use the same account for trading in any mode.

The company introduced a system of statuses for its customers. It is a kind of development ecosystem for each trader. At the moment, there are three types of statuses available: Starter, Advanced or Expert. These statuses provide traders with a flexible system of trading conditions.
A trader gets a basic status when they make the first deposit. It enables to make up to 82% of an investment in profit and access a free training program.

To get an Advanced status, one should either make a deposit of at least $500/€500 into one’s account or gain 1500 experience points (XP). With this status, customers are able to make trades with a profit yield of up to 84%, get analyst advice and use 7 pre-configured strategies.

To become an Expert, a trader needs to accumulate 5000 XP or invest at least $2000. With this status, the payout rate increases to 92%, and in some cases to 100%. Customers of this group get access to risk-free trades, exclusive binary options trading signals, and personal training.

OlympTrade

Trading Software

The Olymp Trade platform users trade in two modes: Fixed Time Trades and Forex.

They can trade more than 80 assets—popular currency pairs, shares of international companies, stock indices, cryptocurrencies, and commodities. The list of assets available for trading is constantly expanding.

 

The Olymp Trade platform is easy to navigate and has a user-friendly interface. The main part of the screen is occupied by the charts, and there is a folding panel of trades and orders to the right of them. To the left of the charts, there is a Help menu, which you can use to contact the support team, signals for Fixed Time Trades mode, and tutorials. You can find the chart settings, indicators, and time frames right below the chart screen.

Each element is designed in a bright color, so that a trader can quickly understand how to use the platform even if they have never traded before. The platform interface is constantly improving. For example, now a trader can create a panel of their favourite assets, and the settings have been moved from a user account to the bottom left corner of the screen.
The browser version of the platform is optimized for mobile devices. In addition, the broker has two mobile apps (iOS and Android), as well as desktop applications for Windows and macOS. This makes trading available for all platform users and allows them to trade literally on the go using any devices. And finally, the broker’s clients can use MetaTrader 4 software.
Customer support

The benefits of Olymp Trade include developed support services and improved customer interaction. The platform interface is available in 19 languages. You can contact the support team via hotline, email and online chat. And of course, there is an extensive FAQ section, which is a great solution for those traders who are not eager to communicate with the support team or want to find answers themselves.

As practice shows, communication with the support team via chat is quick and informative. The Support team members do not try to force clients into registering or making a deposit, they simply provide the necessary information.

A huge educational database is the broker’s serious competitive advantage. One can access it through the Help menu. Here, all registered traders can read lots of articles and watch training videos. One only needs 15 minutes to take a video course for beginners. And this is just a part of the educational content available to the trading platform clients.
Traders can get useful information from daily analytics and weekly reviews. Analysts hold webinars for the platform users on a regular basis. Individual consultations are also available.

OlympTrade

Banking with Olymp Trade

There are five major ways deposit to and withdraw funds from Olymp Trade: bank cards, e-wallets, bank transfers and cryptocurrency. There is a unique list of payment and withdrawal solutions for every country.

As a rule, a request is processed in 24 hours, but it can also take up to 5 days. Customers don’t have to pay for making a deposit/withdrawal; the broker uses own funds to cover the commission amount.

Funds withdrawal may require account data verification, i.e. personal verification and their payment means data.

Verification protects platform customers from cyber-hacking attempts. The FAQ section contains all the information related to the verification process, including a list of the required documents.

OlympTrade - Review Conclusion

  • Low deposit, all-in-one trading account, abundant trading assets and a user-friendly trading platform
  • Longer withdrawals processing times due to extra security
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