Olymp Trade Analysis
Olymp Trade is a broker that was founded in 2014, but only became well known in 2016. It is one of the new brokerages in the wave that followed the example of success set by IQ Option.
It has its own simple and intuitive platform. Deposits start at $10 and trade at $1. Only classic (Call/Put) trades are available.
Those who are familiar with IQ Option may be thinking this is a copy of it. It does have several similarities, but it has one big difference that I will discuss further on.
Although Olymp Trade is a recent broker, it already won an award in 2016: “Best binary options platform” from IAIR AWARDS.
Olymp Trade is owned by Smartex International Ltd and the payments are run by Frandom Holding Ltd.
Olymp Trade Platform
The Olymp Trade platform is very simple and intuitive. It was designed for those who are learning to trade, or for those who prefer a light, simple, and clear platform.
The platform was developed by the company itself. I would say that of the existing platforms on the market, the one that most resembles Olymp Trade is IQ Option.
This is another similarity that is a compliment because the IQ Option platform is one of the best on the market.
Watch the Olymp Trade video
Trading is done on the web platform. There is also a platform for mobile devices, smartphones, and tablets using Android and iOS apps.
Olymp Trade offers just one type of trade: Up and Down (Call/Put) which is the most classic and most used in binary options. The reason is simple: to make the platform and binary options trading simple and lightweight for users.
Like the IQ Option platform, it is complete in terms of indicators and setups that we can configure on the platform, and thus one of the best on the market.
Olymp Trade OFFER: Opening an account and depositing at Olymp Trade using the Button below entitles you to various training programmes and other tools. The training programmes include up to 6 strategies including the use of our Binary Options Signals, all tools that are exclusively ours. The 5 different training programmes vary depending on the value of the deposit. After registering at Olymp Trade, contact our team to confirm your registration at Olymp Trade. DO NOT DEPOSIT before confirming.
– What is an affiliate?
An affiliate is someone who opened the account at the broker using a link from an affiliate site like ours. When you open the account through us, the broker shares a small part of the profits from trades.
For the client (you), it makes no difference whether you register through us or directly with the brokerage. The account is the same; the profits are the same; and the rules are the same. And you don’t pay anything to us nor the broker.
It only has advantages: our support, our training programmes, strategies, signals for free or at lower prices, etc.
– Why are the offers exclusively for affiliates?
Because it was a lot of work to develop the resources, because there are costs associated with the site, the training programmes and all the tools that we offer, and because since you don’t pay anything to be an affiliate, it’s not too much to ask. And above all, because it is fair, if you don’t work for free, it is also fair that we receive something for our work. Even more because you don’t pay; the broker does.
Olymp Trade Platform: Special Features:
It offers “YOUR TIME” options, that is, you choose your time, for example, 2, or 3, or 4 minutes, or whatever time you prefer. Very few brokerages offer the possibility of choosing the expiration time that you prefer.
When we open a 1-minute trade, it lasts exactly 60 seconds, while in IQ Option, for example, it ends at the end of the 1-minute candle. In practice, coming into a trade while the candle is running, we can never get exactly 1 minute, whereas here we can. And in 1-minute strategies, every second count.
However, the broker also offers the same expiration system as IQ Option offers, at the end of the candle. Therefore, if you prefer for your trade to end at the end of the candle and not 1, or 2, or 10 minutes from now, you can choose Time instead of Classic.
Expiration times at Olymp Trade range from 1 minute to 23 hours.
Trading on the weekend:
Another advantage that Olymp Trade offers is the possibility to trade during the weekend. For example, you can trade cryptocurrencies every day including weekends.
Closing Open Orders:
Imagine that the trade you opened is losing and the market continues to move in the opposite direction you intended. You can close your trade before the time ends. This way you do not lose 100% of your bet, but rather a smaller percentage of your bet.
You can leave orders pending, waiting for a price to reach a certain value, or for example when the news is announced, leave a transaction ready for that moment.
For users with Android or iOS, you can download the Olymp Trade app for free from the image below and trade directly on your mobile or tablet.
Olymp Trade Learning Tools
Olymp Trade has several learning tools, such as multiple videos and ebooks. To access the learning tools, you just have to open a Demo account at the broker.
This broker offers a free Demo account of $10,000 to practice without having to make an initial deposit. The demo account can be used without limitations and if you lose you can reload as many times as you want. This is relatively rare among regulated brokers, and even rarer because there is no need to make a deposit to have the demo account.
However, this broker, like all the others, does not really have a training programme that teaches you everything a beginner needs to know to achieve positive results in the long run. To obtain this necessary knowledge the ideal is to participate in a training programme.
We have Free training programmes for Olymp Trade and for other brokerages.
To participate in the training programmes you need to be our affiliate (see an explanation of an affiliate above).SEE THE TRAINING PROGRAMMES.
Accounts and Bonuses at Olymp Trade
The minimum deposit amount to open a real account is $10. You can choose to have your account in Brazilian Real (R$), USD or EUR. The minimum trade is $1.
You can also have a demo account of $10,000 to practice.
Olymp Trade offers up to a 50% bonus on the first deposit and up to 50% on subsequent deposits. Today many brokers no longer offer bonuses because some regulators consider that bonus offers are a way for the trader to deposit more than they should or have at the moment.
As long as the trader uses the bonuses consciously, the bonus can be a help when we start trading. The bonuses cannot be withdrawn, they simply give the trader more leeway when trading.
Olymp Trade also offers a VIP account. To qualify for a VIP account you have to make a single deposit of 2,000 USD or EUR. Being a VIP has some advantages such as higher profits in each asset, faster withdrawals, a personnel analyst, etc.
Olymp Trade Deposits and Withdrawals
There are several possible deposit methods at Olymp Trade ranging from the most common such as bank transfers, Visa and MasterCard, as well as electronic payments such as Skrill, Neteller, and other electronic wallet services. In Brazil it also accepts Boleto. The money is in the account in minutes.
Withdrawals must use the same method used for the deposit. Both the deposits and the withdrawals are fast. Depending on the type of account and withdrawal method, it usually takes 5 business days to complete a withdrawal. The account must be verified with the required documents for the withdrawal to be processed.
The minimum withdrawal amount is $10 and no fees are charged on withdrawals, even if you request more than one withdrawal per month. This is unusual since most brokerages either charge fees or limits withdrawals to one per month without fees.
Advantages and Disadvantages of Olymp Trade
Olymp Trade is a broker like IQ Option, and therefore it is different from the more common brokers.
Olymp Trade Advantages:
– Minimum deposit of $10.
– The minimum trade of only $1. For those who are just beginning trading binary options, trading with low values is an advantage.
– Tournaments with cash prizes. Some are free, others are paid, but all of them have prizes.
– Free $10,000 demo account.
– Platform with the ability to choose the trader’s own expiration time instead of the expiration times that normally exist.
– Withdrawals without fees.
– Signals for Olymp. The best binary options signals.
– Support in Portuguese.
Olymp Trade Disadvantages:
– Less variety in assets.
– Limited binary options contracts to trade. Only classic Call/Put trades are available.
– At certain times we can have payouts of 80% while at other times 40% of the same asset.
– They do not have training (videos and webinars) in Portuguese.
– The regulations are not as strong as others who use CySEC, for example.
– They do not operate in Portugal.
Conclusion Olymp Trade
Olymp Trade is a good choice for anyone who wants to begin trading. It has a good platform, low deposits and trades from $1, and no fees on withdrawals.
Established - 2015
Headquarters - Seychelles
|Regulating Entity||FinaCom - Licence|
|Customer Service Channels||Live Chat, Telephone and Email
|Platform||Olymp Trade - Proprietary platform|
|Trading Channels||Web, Mobile (APP available for Android and IOS - Smartphone and Tablet)|
|Deposits||Visa, MasterCard, Skrill, Bank Transfer, E-Wallets|
|Withdrawals||Visa, MasterCard, Skrill, Bank Transfer, E-Wallets|
|Asset Totals||Forex - 35 | Stocks - 13 | Indexes - 11 | Commodities - 6 | Total 65|
|Option Types||High/Low Turbo (60, 120 and 180 seconds) and Binary and YOUR TIME|