Reliable Olymp Trade Broker Review & Scam Check 2017
Olymp Trade Reviews
Olymp Trade is relatively young when comparing to other brokers but considering the comprehensive experience that the team has, it's one of the best brokers today. Olymp Trade is being monitored and regulated by various independent financial institutions making it impossible for fraudulent activities. Based on available information, we believe that Olymp Trade is safe for binary option traders. Do not risk, try their platform for free Here.
Is Olymp Trade a scam? Broker history is not that long so it’s important to make sure that it’s safe for binary option traders before making an investment. Some of our users requested us to do the test and to review Olymp Trade, so we did. Read further to find out more.
In the Olymp Trade review you’ll find information about regulation, bonus offers, withdrawals, account types, possibility of a scam, demo accounts and more. Please make sure to leave a comment and rating in the comments section if you have a previous experience with the broker. It’s going to help a lot to the growing binary options community.
Olymp Trade Pros
- Regulated. The broker entered international Financial Commission in February 2016 (Member of FinaCom). It means that trader funds are insured up to $20,000.
- Quick support. If platform users have any questions, the request is usually processed within 30 seconds from receiving.
- Free education and analytics. Useful materials to develop a better trading strategy. Webinars, interactive courses, strategies and analytical services.
- Risk free trades. VIP-users have an opportunity to open trades and don’t risk their investments.
- Low minimum deposit. Real trading accounts can be opened from $10. Comparing to other brokers it’s very low.
- High profit percentage. Profitability from standard binary option trading can reach even 90% from successful deals.
- Platform awards. Olymp Trade has received an award from Le Fonti Awards – Binary Options Platform of the Year in 2016.
Olymp Trade Cons
- New to the market. In some cases brokers that are established very recently are considered as not stable. Olymp Trade is in the binary trading market from 2014.
- Traders from some countries are not accepted. Restricted countries are: Australia, Canada, USA, Japan, Israel, Austria, Belgium, Bulgaria, Croatia, Cyprus, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Latvia, Lithuania, Luxembourg, Malta, Netherlands, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Sweden and United Kingdom.
Olymp Trade Platform and Option Types
Traders can find the most suitable time frame for binary options trading. The platform offers time frames from 1 minute up to 8 hours, however, the company is growing and new options are being added regularly. At the moment the platform offers two types of binary trading: Classic options and Time options.
Classic options – classic options are basic binary option deals where a trader needs to choose asset, trading amount, expiration time and direction of a price. This is the most popular trading type that people choose when trading binary options.
Time options – the same as with Classic options but the only difference is that traders can select expiration time a little bit differently. There’s going to be an option for a buyout. You can compare both of these options on the platform for free (demo account).
Olymp Trade Account Types
Demo account – zero risk when it comes to trying the platform. Traders can apply for a demo account without investing real money. It’s very convenient to learn the basics of trading process or to experiment with the platform features.
Real trading account – real trading begins from as low as $10 (or equivalent in other currencies) and the minimum trade amount is $1. It’s very cheap comparing to other brokers that sometimes require even $25 per each trade.
How to Get Olymp Trade Demo Account?
Platform users can open a Demo account without making a deposit. The account is free and you’ll have a chance to play around with virtual money.
The platform is available in the following languages: English, Russian, Thai, Indonesian, Portuguese, Spanish and Turkish.
Good news to mobile traders. The platform can be used on the most popular mobile platforms and there are no additional charges. Just download the suitable app from the respective application depositary.
Is Olymp Trade a scam?
Olymp Trade Regulation
Olymp Trade is regulated by International Financial Commission (Deposit compensation Up to $20 000 from Compensation Fund in case of the fraud activities of the broker). Based on the regulation information, there’s no reason to believe that the broker is a fraud.
First appeared online on the Web
As mentioned on the brokers website, the brand was first launched in 2014. It can also be confirmed on the Internet archive where first significant changes and updates show up in the end of 2014.
Olymp Trade Withdrawal
There are no additional fees for withdrawal but there are some restrictions that you need to know. In order to take out your money you need to make at least 3 trades (the minimum trade amount is $1), you also need to have at least $10 in your account because that’s the minimum withdrawal amount.
If everything mentioned above applies, you should be able to receive your money in 1-3 working days. As with every broker some personal information is going to be required in order to make sure that the amount paid is sent to the correct person.