• Regulated by CySEC
  • Start trading just from $10
  • Maximum payout up to 95%
  • Withdrawal money in 24 hours
  • 24/7 сustomer care service
RISK WARNING: YOUR CAPITAL MIGHT BE AT RISK

OlympTrade Review

Bonus up to 100%

  • Regulated: Financial Commission
  • Software: Propriety
  • Minimum deposit: $10
  • Minimum deal: $1
  • Maximum deal: $5000
  • Max Return: 90% 
  • Bonus: 100%
  • Demo Account: Yes & Free
  • Assets: 60+
  • Types: Highlow

OlympTrade Review

Bonus up to 100%

  • Regulated: Financial Commission
  • Software: Propriety
  • Minimum deposit: $10
  • Minimum deal: $1
  • Maximum deal: $5000
  • Max Return: 90% 
  • Bonus: 100%
  • Demo Account: Yes & Free
  • Assets: 60+
  • Types: Highlow

Is Olymp Trade A Scam?

Olymp Trade is a Russian binary options platform that was established in the year 2014. The platform is owned and operated jointly by two separate companies, named as Smartex International Limited and Frandom Holding Ltd. The first one is based in Mahe, Seychelles while the other one’s headquarters is situated in Agios Dometios, Nicosia, Cyprus.

Olymp Trade is regulated by only Olymp Trade is regulated by Financial Commission now. (Update: They is no longer a FMRRC regulated broker from 23 February, 2017). The main focus of the platform is to provide the binary options services in Russia. However, they have extended their business to many other countries over the years. Without any doubt, Olymp Trade is an ambitious binary broker who has implemented their innovative approach and industry’s best techniques to establish a higher level of quality binary options services. The platform provides traders a payout up to 90% on being the winner of the trades. Olymp Trade is a legal broker who has a quality certificate from the Financial Commission, which is an international organization certifying software for the binary options trading.

Trading Platform

The Olymp’s trading platform has been created by their own programming staff allows them to implement the modifications and carrying out technical updates without much difficulty.. The website version of the platform can be adapted for all the screen resolution. This feature allows the users to access the trading platform on tablets and smartphones without any technical issues.

The platform has mainly targeted the single trading tool, named as the classic call/put option. There are 8 standardized expiration terms offered by the platform with the shortest one being 1 minute and the longest one being 3 hours. In addition to this, the platform also allows the traders to set the time frames according to their need. The platform offers wonderful features to the users because of their moderate selection of tools and assets. It can be a perfect option for the beginner traders if these tools can put together with the high level of usability.

The percentage of profit depends on the present market circumstances and ranges between 10 to 90 %. If someone loses a trade, a small window will feature to get acquainted with the present automated section or advise to proceed to the educational resources. An indicator with the current positions of the other traders also appears on the left part of the Olymp’s trading screen. This can be perfectly utilized as a separate trading signal. The traders can cancel trades up to 75% into the life of an option.

The Olymp’s trading interface is well-managed, refreshingly simple, and understandable. It has a great potential introduction regarding the binary options trading market.

Olymp Trade offers Languages
English
Russian
Turkish
Spanish
Portuguese
Indonesian
Thai

Mobile Apps

Launched in 2014, the platform knows how important is the technology and advancement in today’s world. That’s why they have built a mobile platform that is fully responsive and offers greater user’s experience. It is available for both Android and iOS users. The app is designed comprehensively for traders with all levels of experience.

Make Profit With Olymp Trade Apps

Olymp Trade Bonus

In addition to referring a friend or making affiliations, the platform also gives 100% bonus to the traders when they deposit. That means, if you deposit $ 100 in your account, then you will get another $ 100 in currency for using in the binary trading. Along with that, there is a promotional offer run by the platform that offers an additional 20% bonus on the future deposits.

Option Type

If one talks about the profitability, the platform offers payouts of up to 90% that isn’t the most competitive. However, there is no doubt that it has the low entry and simplified system that makes it one of the best trading options.

It is quite common that the majority of brokers provides a range of trade types and the option for trading in many different assets. Generally, the brokers provide 6 or 7 types of trade to the users. That is not the case with the Olymp Trade as they only offer one type of trade, i.e. High/ Low or basic Call/ put trade. Have a look at the high/ low option in detail:

  • It is an ideal option for people who are looking to start binary options trading.
  • You need to select your currency pairs, asset, gold and begin trading by predicting whether the asset will increase or reduce the expiry time.
  • There are no options for the long term trading because the expiry times are limited to end of the day.

Update: Crypto assets are available in Olymp Trade platform now. Traders can trade famous cryptocurrencies on the market such as: Bitcoin, Ripple, Ethereal, Dash, Zcash… with Olymp Trade. The highest returns rate for this type of assets is up to 80%.

Account Types

Presently, the platform only offers one promotional plan for its users that is known as “refer a friend” program and affiliate partnerships. When it comes to accounts, there are three types of accounts available on the Olymp Trade.  One is known as the standard trading account, while the other one is named as a VIP account. You are allowed to cancel the transaction before its completion with a refund up to 60% of the transaction amount in all the accounts.  Have a look at both the accounts in details:

Standard Account

The standard account comes with the following features:

  • There is a need for a minimum deposit of $10 or RUB 350 to start trading on this account, which is the lowest available on the website of any other broker.
  • The minimum amount to trade on the standard account is $1. Again, you can’t find any other IQ Option broker anywhere else who offer as low as this.
  • You will get profit up to 80% and allowed to have the maximum trade amount of $ 2,000 in this account.

VIP Account

For opening a VIP account, you have to make a one-time deposit of $ 2,000 or € 2,000 depending on your chosen currency. If you choose to have a VIP account, you will get following features:

  • The traders will get profit up to 90%.
  • You can have a risk free trades in the VIP account.
  • Get access to the private VIP webinars and exclusive strategies.
  • The maximum trading amount in this account is $ 5,000.
  • The VIP account traders also get a personal VIP manager.
Traders From Below Contries Are NOT Accepted
Australia
Austria
Belgium
Bungaria
Canada
Croatia
Cyprus
Czech
Denmark
Estonia
Finland
France
Germany
Greece
Hungaria
Ireland
Israel
Italy
Japan
Latvia
Lithuania
Luxembourg
Malta
Netherlands
Poland
Portugal
Romania
Slovakia
Slovenia
Spain
Sweden
United Kingdom
United States

Demo Account

With a demo account, the traders are allowed to access the platform for free. Here, you only need to register at the platform’s website and select the demo account.  You don’t require to deposit any real type of money for starting a practice. It is strongly recommended by the experts to have some practice prior to the start trading with the real money. You won’t earn any amount of money with a demo account, but it will give you some valuable experience that will help during the real trading.

Along with the demo account, the platform also offers you a winning strategy, known as a binary gambit. It is known as one of the best strategies that are developed by the experienced traders. In simple words, we can have same trading experience with the demo account as a real account. The only different is that it will not allow you to earn any sort of money.

Deposit

As we mentioned above, Olymp Trade offers one of the lowest minimum deposits available in the binary options industry, which is only $10. This makes it the perfect option for traders who don’t want to invest a great amount of money. In order to deposit, you need to follow below steps:

  • First of all, you have to register at their website. After that, you will get a confirmation email through which you can log into your account.
  • After that, you can see the trading page where you need to deposit funds. Funds can be deposited by using many different methods below:

Withdraw

The platform suggests traders use the same method for the deposit as well as the withdrawal of funds. It isn’t compulsory, but the majority of the brokers follows this rule for avoiding any type of misuse. In order to withdraw funds, you have to send some important documents as below:

1. Photo where You hold your passport/id card in expanded form and where we can see Your face and the passport holder info (a “selfie” with your passport/id card, where Your face and shoulders are seen);

2. Photo/scan of your passport/id card. The page with holder’s name, photo and the rest information.

3.1. If You work (or worked earlier) with bank cards: Photo/scan of the card from which the payment was made (to be seen the first 6 and last 4 digits and name and surname of the owner); The validity of the card and the rest of the card number needs to be closed. The reverse side of the cards do not need to be presented;

3.2. If You work (or worked earlier) with electronic wallets: Photo/screenshot of your electronic wallet account, where we can see the wallet number and photo/screenshot of the money transfer from that wallet to Your trading account.

After offering documents, it only takes 1 day for completing the withdrawal process. There are no fees charged by the platform for withdrawal of funds. Additionally, the minimum withdrawal is $10 or €10.

Educational Resources

If you are new to the binary options trading and learn about it, there are many educational resources available on the Olymp Trade. There are three types of educational options offered by the platform that is mentioned below in detail:

Courses: You can learn about the basic knowledge of the binary options trading. There are lots of courses offered by the platform that can help you in becoming professional.

Trading strategies: You will get a chance to know about different types of case studies that consist of binary gambit, RSI, and Japanese Standards.

Webinars: The platform organizes webinars for solving the real time issues of their users.

Customer Care Service

The Olymp Trade offers many different levels of customer support for the traders that ranges from the live chat to phone service. You will never have any type of problems in making contact with customer care executives of the platform. The platform’s client support is available 24/7 for the traders.

You can solve your issues in real-time by having a live chat at the platform. When it comes to email support, the platform gives a response within 1 working day to its traders. Other than that, you can call them anytime on their customer support number.

Conclusion

Olymp Trade is a legit binary options broker offering a great range of features and comprehensive interface. It is a perfect option for the beginners who want to develop their skills and implement theatrical knowledge in both the fundamental and technical ways. The platform’s minimum $10 deposit and $1 trades make it possible for everyone to trade. Moreover, they encourage their traders by offering brilliant educational service.

However, limited assets can be an issue for lots of traders, but again it is a wonderful platform for the novice who wants to learn. The platform’s main focus is on Russian traders and they don’t even accept traders from the USA, Canada, and some other countries. Without any doubt, it is great first-time website for start trading, but you might have to look at some other platform if you want a greater progression.