With the growing popularity if trading among every age segment in the digital world, olymp trade review has made a name for itself by virtue of it’s user friendly interface and host of features to simplify trading.
We all have seen those advertisements of making easy money via trading by just selecting up or down, doubling our money within a matter of mere minutes. One of the platform running these ads is Olymp trade.
Today, we will do a complete review of olymp trade platform, covering all features and determining weather olymp trade is good or not and also answering questions about olymp trade scam, reviews etc.
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Table of Contents
What is Olymp Trade
Olymp Trade began its journey in the online trading industry in 2014. It was established by Saledo Global LLC. Since its inception, Olymp Trade has focused on creating a user-friendly and accessible trading environment.
The platform caters to over 89 million traders in over 39 countries with the monthly trading volume exceeding $200 million with over 30,000 daily active users.
Some notable milestones in the journey are:
- 2014: Launch of Olymp Trade by Saledo Global LLC.
- 2015-2016: Release of mobile apps for Android and iOS, introduction of risk-free trades.
- 2017: Addition of Forex trading and cryptocurrencies to the trading options.
- 2018-2019: Implementation of daily tasks and launch of the online trading platform.
- 2021-2022: Enhancement of user support with Help Center, Boost Cubes, Quickler, Battles, Referral program, and Flat market protection.
The minimum deposit capital amount is $10 and the minimum trade amount is $1, which is amongst the lowest in the industry.
Olymp Trade Features
Olymp trade positions itself as one of the easiest platforms to trade. It offers a whole lot of features in different trading segments.
Some notable features include:
- $10 minimum deposit to start trading
- Free refillable Demo account to practice trading risk-free
- Over 100 trading instruments, including OTC, crypto, and blue chip stocks
- Various trading modes designed for different trading styles and strategies
- 10,000 demo currency for training purposes
- Ultra-fast trades in a unique trading mode
- Progression system to guide traders
- 24/7 Support in multiple languages
- App optimized for various devices
- Educational suite for users to study trading
- Trade on Forex and Fixed Time Trades modes 24/7
- Over 170 popular assets to trade, including stocks, commodities, indices, and cryptocurrencies
Account Types in Olymp Trade
It offers two types of account: One is standard account and other is ECN account. The ECN account has faster execution speed and offers the tightest spreads.
| Features | ECN Account | Standard Account |
| Account Currencies | USD/EUR | USD/EUR |
| Available Leverage | 500:1 | 500:1 |
| Minimum Deposit | $10 | $10 |
| Starting Spreads | 0.6 | 1.1 |
| Commission Per Trade | $4 Per Lot | 0 |
| Decimal Pricing | Up to 5 Decimals | Up to 5 Decimals |
| Trading Instruments | 35+ Currency pairs12 Cryptocurrencies10 Indices4 Metals2 Energies12 Stocks | 35+ Currency pairs12 Cryptocurrencies10 Indices4 Metals2 Energies12 Stocks |
| Min. Lot Size Per Trade | 0.01 | 0.01 |
| Max Lot Size Per Trade | 20 | 20 |
| Demo Account | Yes | Yes |
| Swap/Rollover Free | Yes | Yes |
Also read, IQ Option Review: Top trading Platform or Fraud?
Pros and Cons of Olymp Trade
Pros:
- 24/7 customer support
- Easy trading interfce
- No Rollover fee
- Multi-platform Support
- Wide range of trading options
Cons:
- Not available to US and EU customers
- Limited Regualtory approval
- Misleading advertisements
Trading Facilities
Misleading advertisements and Fake reviews
While the platform is genuine and is a good option for beginners to start their trading journey, there have been complaints about potential fake reviews and misleading advertisemnts by the advertiser to lure traders into the trap of easy trading.
The advertisements show that trading is a child’s play while in real world trading, it is not just up and down with the role of risk reward, trading indicators and trading strategy being the key components.
There have also been complaints that the algorithm of demo account is altered to always show profit to new investors to prompt them into adding more funds.
Conclusion
As of 2024, Olymp Trade appears to be a solid choice for traders seeking a straightforward and supportive trading environment. While it offers a range of features and educational support, potential users should weigh the mixed customer feedback and consider the platform’s regulatory status before investing.
As always, it’s advisable to approach trading with caution and within one’s financial means.
FAQs
Is Olymp Trade a scam?
No olymp trade is a genuine platform operating since 2014. The platform offers different trading instruments and caters to over 89 million customers worldwide.
Does Olymp Trade manipulate charts?
Contrary to popular belief, olymp trade does not manipulate charts. While there have been complaints of manipulation, it is not possible to manipulate real time trading charts.
Is Olymp trade legal?
Olymp trade is not available in USA and Europe, it is legal in many other countries.
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