Olymp Trade Review 2020 | The Fastest Growing Options Broker

Olymp Trade is a full-time financial service provider that allows you to trade on fixed time and Forex Instruments.

The company has been around since 2014 it has over 370,000 active daily traders from 9milion registered users and processes up to $350,000 in daily withdrawals.

This broker has received several notable awards making it a top-flight trading platform.

If you want to know if this broker is safe for you or not, then this post is for you. My review of Olymp Trade will answer all your questions.

Also, I have a bonus for you at the end of this post how to trade profitably.

If you are ready, let’s check it out.


Before you proceed. I think it’s best you know that we have found Pocket Options as the best options trading company. Create a demo account to check it out.

Post Summary

I want you to ride along with me very closely as I walk you through the post, so I have made a list of everything I will be discussing here today. Get your pen and paper and jot things down;

  1. Olymp Trade Overview
  2. Traded Instruments
  3. Restricted Countries
  4. Registration Process
  5. Trading Accounts
  6. Deposits And Withdrawal Method
  7. Bonuses On Olymp Trade
  8. Customer Support And User Interface
  9. Pros And Cons
  10. FAQ
  11. Conclusion

Now, Let’s dive right in.


Olymp Trade Overview

Olymp is owned and managed by Saledo Global LCC. It is located in St Vincent and Grenadines, a Caribbean Island in North America.

The company was established in 2014 and has ever since risen to become one of the fastest-growing trading platforms in the world. Trading here is seamless and lucrative, Olymp Trade does not only offer you a chance to earn but will also teach how to. This is made possible by a team of world-class analysts.

Its users are constantly growing every day with over 240,000 traders and up to 35,000,000 trades closed every month.

I found it very impressive that the broker is registered under the International Financial Commission (FinaCom). FinaCom guarantees monetary compensation of up to 20,000 Euros to any trader who has been unfairly treated by Olymp.

That’s about the company in a nutshell. However, we’re just getting started.


Traded Instruments

All the instruments traded fall under these two trading Platforms and you can easily switch between them

  1. Fixed Time Trades: In this platform, you choose the direction which you think the market will go (either up or down), set the time period ranging from 1mins to 24 hours. If the market goes your way, you earn up to 92% in profit, if the market goes the other way, you lose the staked capital.Fixed time trade used to be called Binary options or Options, however, the company wish not to be addressed by that term.
  2. Forex: In this type, there is no time limit; you choose the direction which you think the market will go. If the market goes in the direction you chose, your profit increases proportionately, if it goes the opposite direction, it decreases proportionately. You can choose to close this trade whenever you want.

79 assets are currently traded on Olymp Trade. These are grouped into 5 instruments as listed below.

  1. Currencies –       35 Currency pairs
  2. Crypto Assets – 10 cryptocurrencies including; Bitcoin (BTC), Ripple (XRP), Ethereum (ETH), Litecoin (LTC), DASH etc.
  3. Commodities –  6 commodities including Silver, Gold, BRENT, Platinum, Copper, Natural Gas
  4. Indices –              16 in number including DAX, Dow Jones, S&P 500, etc.
  5. Stocks –                12 stocks including BMW, Facebook, and Google etc.

Restricted Countries

Most countries from every part of the world especially Africa, Latin America and Asia (such as, Nigeria, South Africa, Brazil, India, Vietnam,  Pakistan, Ukraine, etc.) are accepted by Olymp Trade.

However, users from the following countries are restricted from trading on this platform;

  • UK
  • USA
  • Israel
  • Canada
  • Russia
  • Australia
  • Japan

Most countries from Europe are not allowed.


Registration Process

All that is required to start trading with Olymp Trade is Name, Email address and phone number.

However, once you start making big trades, you will be required to complete the KYC by sending your photo ID and proof of residency by email.


Trading Accounts

There are three trading account types offered by Olymp Trade.

  • Demo account
  • Standard account
  • VIP account

Demo Account

The demo account is the first account you are given when you sign up. It comes preloaded with $10,000 virtual money for you to practice with. Note that this money cannot be withdrawn. It is for you to test out the platform to know if it suits you. The demo account has all the features of the Standard account.

Standard Account

Once your first deposit is made, your account becomes a standard account (real account). Olymp Trade rewards deposit bonus for a deposit amount of $30 and upwards (see the picture below). You can see that when you deposit $30, you will receive $33 that is a 10% bonus.  Users receive as much as 100% on first deposit. I will discuss more on this below.

VIP Account

If you make a deposit of up to $2,000 and above, then you have automatically become a VIP trader. The benefits include:

  • Increased earning percentage
  • Maximum trade amount
  • Personal consultant
  • Risk-free trades – this means you can trade a portion of your deposit without the risk of losing it
  • Individual training
  • Private webinars
  • Secret strategies
  • Trading signals
  • Exclusive event

Deposits And Withdrawal Methods

There are over 10 deposit and withdrawal methods. This includes

  • Visa and MasterCard
  • AstroPay Card
  • Epayments
  • Neteller
  • Skrill
  • Bitcoins
  • WebMoney
  • Yandex
  • FasaPay
  • Qiwi Wallet etc.

Deposits are instant and at no transaction charge. Withdrawals take 1 to 5 working days.

From my experience living in Nigeria, I prefer to deposit and withdraw using e-payment wallets like Neteller and WebMoney.I have not tried the Card deposit method on Olymp Trade. This is because most brokers pay through the same method your deposit is made.

However, in Nigeria, brokers tend to have issues paying with cards. To be on the safe side, I use WebMoney or Neteller. If you are in Nigeria, you can exchange WebMoney for Naira on Instantgoldng. You can also exchange Neteller for bitcoin on Paybis from anywhere in the world.

The minimum deposit amount is $10 while the maximum is $5,000. You will need to contact the customer support to deposit above that. The minimum trade amount is $1.


Bonuses On Olymp Trade

Olymp Trade offers a lot of bonuses to its users.  The bonuses start from 10% to 100%. The 100% bonus is only awarded if you make a deposit within the first hour of registration. The deposit bonus for subsequent deposits is as in the image below.

The bonuses sound great right? Yeah! but hold on. Some condition apply to these bonuses

There are some conditions for the bonus to stand ;

  • Bonuses can be used only if your main deposit falls to 0.
  • If you order a withdrawal of any amount, all bonuses will be deducted from your account.
  • You cannot withdraw bonuses, but you can withdraw the profit gained from bonuses.
  • Bonuses are not a loan, you do not have to pay back.

Customer Support And User Interface

Olymp trade review ease of use

There are four major ways to contact Olymp customer support

  • Online chat: this is the fastest medium. Although 15sec waiting time is stated on the website, I was answered almost immediately when I contacted the customer support.
  • Hotlines: There are two hotlines, one in Argentina and the other in South Africa. These are available 24/7
  • Email support

All these can be found at the Olymp Trade Support page.

The user interface is set up in a simple and easy to understand layout. An average person can get familiar with it in a few minutes. The navigation and trading assets are to the left, the trading buttons to the right and the chart at the center.

There are also 86 educational materials and videos to teach you how to trade. If you are seriously considering fixed time trading, please go through these tutorials.

Here is a one minute video on how to trade on Olymp Trade


Responsiveness- Olymp Trade Apps

Besides the web platforms, this broker has apps across the major devices including iOS, Android, macOS, and Windows. Apps respond much quicker during trades and thus are most preferable.

Note that mobile apps are not as sophisticated as the desktop apps and Web platform


Pros And Cons

Just like every other trading platform, this broker has its ups and downs;

Pros

  • It has a Demo Account.
  • Deposit Bonuses are available
  • Ease to Use interface
  • Active Customer Support

Cons

  • Not Available in EU, US, and Canada
  • Withdrawal may take up to 5 days

Frequently Asked Questions

Is Olymp Trade A Scam Site?

I have been trading on Olymp Trade for some years now, based on my experience, I will tell you that Olymp Trade is not a scam broker because of the following reasons;
It’s registered under the International Financial Commission (FinaCom). FinaCom Prides itself to certify only honest, transparent and reputable companies with a high quality of service. If Olymp Trade is found guilty of any unfair treatment to you, you will be rewarded 20,000 euros while Olymp Trade risks losing its certification.
I have gone through various Trading fora discussing Olymp Trade, there are positive reviews and negative ones as well. One of the negative comments is losing money, trading is risky, it requires skills, you should test out the system using the demo account and go through the tutorials before putting in your money.
Since being certified by FinaCom, Olymp Trade has won 6 awards between 2016 and 2018. Here are are some;
Best Fixed Time Trade Broker ( Forex Expo 2017)
Fastest Growing Broker ( ShowFx World 2016)
Best Financial Broker (CPA Life Awards 2017)
Best Options Trading Platform (Le Fonti 2018)
One of the world’s top Rugby players in South Africa (Eben Etzbeth) is in partnership with Olymp Trade
The company supports the LCR Honda Team at MotoGP 2020.
Olymp Trade Partnership with honda

How Can I calculate My Profit?

Your profit directly depends on ;
The standard return percentage on the invested amount which is 100%.
The return rate determines the extent of profit. The higher the return rate, the higher your profit.
If the number of sellers is over-weighted than the number of buyers, the company cuts the profitability for the out of balance asset. But in anyways, your 100% profit from successful trades will be paid in full.


Conclusion

From my Olymp Trade Review above, you can see that this broker takes its business seriously. Since its certification in 2016, It has won 6 notable awards.

The speed at which its customer support responds is exceptional, there is practically no waiting time. The deposit bonus is another feature that makes it stand out because no other top brokers do this.

Another outstanding feature is the number of analytical and tutorial tools Available. You cannot find this number in any other broker.

If you are considering fixed time trades or Forex, this platform is one of the best.

Do you have any experience in Forex trading?

What are your best winning strategies?

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Thanks!


Risk Warning

Trading Options carries a high-risk level. You cannot really predict the direction of the market this can work both to your advantage and disadvantage. As a result, Options may not be suitable for all investors because it is possible to lose all of your invested capital. You should never invest money that you cannot afford to lose. Before trading, please ensure you understand the risks involved.

Also, Read;

Olymp Trade

0.00
8.8

Ease of Use..

9.5/10

Reputation

8.5/10

Payment Method

9.0/10

Transparency

8.0/10

Customer Support

9.0/10

Pros

  • Demo Account
  • Deposit Bonuses
  • Ease to Use interface
  • Active Customer Support
  • Option/Forex trading Platform

Cons

  • Not Available in EU, US and Canada
  • Withdrawal may take up to 5 days

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63 thoughts on “Olymp Trade Review 2020 | The Fastest Growing Options Broker”

  1. In my opinion, fixed-time trading with Olymp has much in common with Forex scalping on short time-frames. So, when choosing fixed-time trading and a very low expiration such as one minute, you do nearly the same as a Forex scalper does. Many scalpers don’t hold their positions more than a minute.

    Reply
  2. It’s simple enough. There are 3 different statuses: starter, advanced and expert. The depo for advanced status is $500, the depo for expert account is $2000. Of course, Expert status is the most tasty one with 92% profitability for fixed time trades. Also, there are 20% discount on trading comissions.
    If you can get the highest status, I think it deserves this but don’t dwell on this statuses, trading with starter status is also okey.
    I’m starter status trader now. The only thing I feel lack of is 9 simultaneously opened trades only.

    Reply
  3. I’ve heard that Olymp Trade recently launched a status system in its work. How does it even work? And how convenient is it? Because for me personally, it all seems a little complicated.

    Reply
  4. That depends on type of educaiton that you prefer. I like all this educational videos and for me that’s really easy to learn trading with webinars,as everything I need to do is just watch and learn.

    Reply
  5. Yes, this company has really become popular and indispensable in a few years.But it’s no surprise, because this brokerage company creates some original services every year that help traders with different levels of training to get used to the market and work with profit.

    Reply
  6. I started working here about eight months ago… Before that many years ago I tried another company, but then I did not do it well and I was very disappointed. But now I’ve decided to try again, why not?
    I chose this company by ratings, this broker has really good characteristics, including the fact that I liked it very much that it has a handy leverage multiplier and 12 crypto currencies, which are more relevant today than ever. And this time it turns out much better.

    Reply
  7. can i withdraw to my btc wallet because thats my challenge in funding my account. i dont want a situation that i will want to withdraw and they will be telling me to provide card or ewallet.

    Reply
  8. I immediately decided that I would trade here for several reasons:
    – there’s no unexpected commissions.
    – the terminal is simple and filled with functional solutions that can be used for analysis and trading
    – there are no significant restrictions on deposit and withdrawal amounts

    Reply
  9. I’ve always been for experimenting and doing things that make you uncomfortable – why? Because when you do something that is difficult for you or that requires a lot of effort from you and you don’t give up – you grow as a specialist and as a person, and this is an obligatory step towards success. And success is financial wellbeing, of course. As a matter of fact, trading has become the same experiment for me, and probably the most difficult one in my life, because I like to control everything, I must clearly understand what my next step will be and what I will do if there are some changes, but it was impossible in the market. I can describe my whole journey in several stages:
    1.Broker X – 3 weeks – failed – deposit – failed – blocked account.
    2.Broker Y – 3.5 months – getting profit – withdrawal of funds – trade – refusal in withdrawal of funds – trade – loss.
    3.Broker Z – Olymp – 2016 – present – there were cases of drawdown, of course, but I clearly saw that the broker does not interfere with me – so I did not look for another company.
    Still, I learned to control, but not the market, but myself – so as not to get nervous when something goes wrong.

    Reply
  10. Now I like the fact that I can work here myself and how comfortable I am, but when I first started, the support was a little short. So all hope was for myself and for me not to be lazy to study the market and different strategies.

    Reply
  11. Seems Olymp Trade is good brokerage, a lot positive reviews in the Web and well-known brand. However, what about the security of funds. For example, if me acc will be hacked, is there any protection measures?

    Reply
  12. Olymp Trade is one of the most popular brokers, even people that are completely out of trading know about Olymp Trade. Company’s PR department performs really well, so Olymp is well-known for a lot of people. Such people was one of the reasons, why I, when I was looking for brokerage company, chose Olymp trade, that was only one broker I know about. I can say that Olymp is really good for beginners and offers a lot of things not only to attract broker, but also to help beginner to become experienced trader. I’m talking about educational offerings and demo-account, that’s real stuff that helps each trader to master its own way in trading industry. Olymp offers its own trading platform and it’s fine and offers a lot of indicators, but I don’t know about is there any option to use other trading platform, for example Metatrader 4, as it has more options to adjust specific algorithms and trading strategies.

    Reply
  13. I’m completely new in trading. however I’m fast-learning with the Olymp trade. I don’t want to sound flunky, but there are so much opportunities to learn trading, that everything you need is a desire. I can’t say nothing about Olymp as broker. as I don’t trade real money yet, however I see the huge work this company did to help newbies learn and handle with trading. I read a lot of blogs and watch Olymp webinars and after that I can try trading with demo-account and test what I have learnt. I plan to keep on learning for at least 3 months and then go real trading. I have a question about stop loss and take profit. I can’t understand how exactly this works, so if someone can help me, I will appreciate 🙂

    Reply
  14. It took me three month to start earning withOlymp Trade forex platform. Sure enough my profits are nothing in comparison to Soros’s famous trade, but I’m sure that my best trades are still ahead. Learning how to trade is really easy with OLymp, but it takes time to find out what are the weak points when you start losing money. For example I like trading late at night because it’s so quiet in the house and no one distracts me from the charts. However it turned out that at this time markets were very slow and I wasn’t able or make decent profits. Changing the time when I trade helped me a lot. By the way, are there any assets that I can trade on the weekends? I still have a regular job and I want to spend more time trading on the weekends.

    Reply
  15. Mr jude
    Pls do i need to open a web money account for conversion and i hope the process isn’t that complicated cos i hear people are having trouble funding their Olymp trade account using cards

    Reply
    • Most binary option platform have issues with card payment.

      I always recommend using online payment option if you can.
      It might be a little complicated when you are doing for the first time. but once you do it a few times, it becomes really easy.

      the path I follow is I buy bitcoin with naira on quidax, send it to paxful and convert to WebMoney or Neteller.
      if you need assistance with this. contact me [email protected]

      Reply
  16. I’ve been using Olymp for over a year now and like it so far. This is my first broker and I thought that this trading platform, bonus program, fees and qualified support – this is something that every options broker offers. A friend of mine got into trouble recently. He deposited $50 to another broker and lost all of it due to some unexplained technical difficulties from the side of the broker. They didn’t even excuse. So now I see why Olymp has got so many rewards and recognition in this business. I offered my friend to try Olymp, but he is still in doubts. Are there any special conditions that need to be fulfilled in order to receive 100% bonus on the first deposit?

    Reply
  17. I like Olymp Trade platform a lot – easy and simple marketplace, you can fast conduct the deals with any of the available assets and turn switch between forex and options in one click – this is really cool!
    The only thing I’m wondering, whether there will be more assets. To be more precise, I have no doubts that there will be more, just wondering when are you planning a significant increase up to 200-300 assets? 🙂

    Reply
  18. In my case, I’ve been trading with Olymp Trade for almost a year. Of course, I didn’t immediately start trading into the black, but as I was gaining experience, I learned to trade with several different strategies at once. Each of them has its own pros and cons, so I haven’t decided yet which one is better. So far I’m just switching between the two, depending on the asset and trading time.
    You know, I was wondering why the apps work faster than the web-platform? Basically, I like the web-platform just as well… So, if I got the article right, it’s better to trade with a mobile device, isn’t it?

    Reply
    • The Speed is just in fractions of seconds. if you are trading greater period, it does not matter. You can trade on the platform that is most convenient for you.

      Reply

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