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Average Spread for EUR/USD
stocks, currencies, cryptocurrencies, commodities and indices
Those who already know Olymp Trade know that this is a platform simple and innovative that has emerged as a option in the booming trading industry online. Since it began its activities in 2014 it has had its difficult moments, although today it is in full expansion.
Today, it is one of the most popular companies in the world of binary options. This is reflected in its transaction volume, which reaches 20 orders per second. Today, Olymp Trade is one of the easiest platforms, even for beginners.
What type of broker is this? How does this work? trading platformAre your trades reliable? In this guide we try to answer these questions in a simple way, taking into account the opinion of experts and users of Olymp Trade.
What is Olymp Trade?
The simplest way to define Olymp Trade is like a financial agent, broker or middleman. It is also common to apply the term "broker".
This is precisely what Olymp Trade: to serve as intermediary for those who want to put their money to work in the financial markets.
This trading platform has different instruments (from Forex to cryptocurrencies) and an interface that stands out for its simplicity..
The company's popularity has been growing, so much so that it now offers its services in 12 languages and has a monthly average of 38 million transactions.
This intermediary provides services in financial operations with various asset classess, including:
- Stocks, such as those of large companies like Amazon and Apple.
- Currency pairs.
- Precious metals such as gold and silver.
- Stock indices such as the S&P 500 and the Dow Jones.
- Commodities such as natural gas and Brent oil.
- Cryptocurrencies such as bitcoin.
- Different types of ETFs.
- OTC market instruments.
This platform also has a mobile application compatible with mobile devices. iOS y Android. Precisely, the easy access and availability on mobile phones are some of the points in favor of Olymp Trade.
Olymp Trade Highlights
Olymp Trade is characterized by offering ease of handling and investment for all types of trader. This platform is not only suitable for experienced traders, as novices also feel very comfortable with it. In just a few hours, a person with no trading knowledge can get familiar with the interface and start trading.
This is an intermediary with particular characteristics that offer certain advantages to investors. Among its strong points we can highlight:
- It is easy to use and very functional.
- Requires little initial investment.
- Its operations are legalized and regulated.
- He is in charge of educating the operators.
- A free demo account is available.
- Personalized attention to investors.
However, it must be said that not everything is perfect. This broker also has its weaknesses:
- The variety of assets is not very extensive.
- The right of admission is reserved for some countries.
We cannot close this section without mentioning that Olymp Trade has a feature that every reputable broker should have. This is the certificate of Financial Commissionan international body in charge of regulating the operations of the trading.
We will then delve into the details of each of these highlights from Olymp Trade. But first, let's talk about how it works.
How to trade on Olymp Trade?
First of all, it is necessary to emphasize that the operations of this platform are from fixed time (FTT). This means that the traders can make a profit if they correctly predict the direction of an asset in a given period.
The first step to trade with this broker is to complete a registration. online in your platform. It is a quick process that takes no more than 5 minutes.
Once in the customer area of Olymp Trade, it is necessary to select a financial instrument to trade. In doing so, the platform shows the most relevant data, including the price chart and the panel for opening trades.
The last step is to open an order with the buttons "up" or "down"if it is believed that the instrument will go up or down in price, respectively. At all times, the investor will know what he can gain or lose with each movement.
If the prediction is fulfilled, the platform automatically calculates the profit and debits it to the account of the trader. Otherwise, the investment in the operation is lost.
Now, the logical questions are: How much does it take to start trading in Olymp Trade? How is the deposit and withdrawal process? Let's take a look below.
To do business in this trading platform no further investment is required. The minimum deposit is USD 10This amount is quite comfortable to start with. However, the deposit amount depends on the type of trading account.
Olymp Trade offers a wide variety of payment options. Some outstanding gateways are:
- Debit and credit cards.
- Cryptocurrencies (Bitcoin, Tether, Ethereum).
- Electronic wallets (Astropay, NETELLER, Skrill, Perfect Money, WebMoney).
- Cash payments in Colombia (Exito, Baloto, Surtimax, Carulla, Efecty, Punto Red).
Each of these options deposit has its maximum and minimum limits, as well as a set processing time.
Deposit in the platform is very simple, since you only need to press the button "Deposit" to display a page with the available options. After choosing a method, the trading platform redirects to the site of the selected payment method.
It is worth mentioning that Olymp Trade also offers promotions at the time of deposit. Such incentives are optional. If a trader you don't want to receive them, simply click on the option "no bonus".
The process of withdrawing funds from Olymp Trade is not complicated and its duration depends on the selected payment method. Withdrawals through e-wallets and credit cards are processed in a few hours. On the other hand, bank transfers take longer.
On some occasions, retreats in Olymp Trade require extensive time; even four or more days for the verification of documents.
However, many investors recognise that this platform has responsibly paid its clients millions of dollars. Delays have occurred only in document verification cases.
Practical example for an Olymp Trade beginner
The best way to understand this trading platform is by means of an example. Let's take for example a trader we'll call Genesis, who enters the website of Olymp Trade and makes its respective registration and deposit.
Genesis logs in and starts trading, choosing an asset class (stocks, commodities, BTC, Forex). In her case, she chooses a cryptocurrency and clicks on "DOWN"choosing a period of 2 hours for its operation.
If Genesis' deposit is $200 and your prediction is correct, you will earn 75% on your investment. In this case, at the end of the 2 hours, Genesis has USD 350 in her account.
As the example illustrates, any beginner can quickly become familiar with the operations of the trading at Olymp Trade.
Types of operations and assets in Olymp Trade
We have already discussed the types of operations available in Olymp Trade. Now, let's look at each of them in detail, along with the main assets offered by this platform.
Fixed Time Binary Trades (FTT)
Binary options are the most common in Olymp Trade. These consist of predicting whether the price of an instrument will rise or fall over a period of time. (from 1 minute to 23 hours).
There is some confusion as to the type of transactions in this trading platform. While it is true that most transactions are of the binary type, it is not the only type of transaction available.
Olymp Trade also offers trading operations in a variety of currencies and other assets. To be exact, this platform has more than 35 pairs of coins including majors such as EUR/USD and exotics such as USD/NOK and USD/MXN.
In addition, this broker offers shares in large companies, such as Coca-Cola, Apple and FacebookThe Dow Jones, Hang Seng and DAX are also the main stock market indices.
Olymp Trade offers these investment services through one of the platforms online most popular, GoalTrader 4.
Now, what is the cryptocurrency offering of Olymp Trade? Let's see it.
In the case of cryptocurrencies, the broker works with about 12 digital currencies. It is not only about the BTCbut also other currencies such as Ethereum, Dash and Monero.
Users say that trading digital currencies at this broker is risk-free and hassle-free.
The risk of hacking does not exist in cryptocurrency trading at Olymp Trade. This broker only offers a contract for trading, but not for storing digital currencies. For many traders is advantageous to the crypto trading that offers Olymp Trade.
Olymp Trade Account Types
A great advantage of Olymp Trade is your choice of accounts to start trading.
For starters, this broker offers a free demo account. Users can register and test the platform with 10,000 virtual credits. The demo account conditions are the same as in the real market.
As for the actual accounts, Olymp Trade offers two categories: Standard and VIP. The first one is aimed at beginners or traders basic level. On the other hand, the VIP account is for veterans in this field, as it offers privileges to its holders.
Below, we will explain what these accounts offer and which one is the most convenient for each case.
This is a free account that works with credits instead of moneyand whose purpose is to serve as a simulation machine for the traders beginners. The demo account offers the same instruments, prices and functions as a live account, only in a simulated environment free of any risk.
Once the trader you feel ready on the demo account, you can transfer your knowledge to one of the live accounts of the trading platform.
This account is the first online account for beginners and is characterized by its low access requirements and possibility to trade both binary options and Forex. The trading range of this account goes from from USD 10 to USD 2,000.
On the standard account, fixed time trades can generate profits of up to 80 %.
As the name implies, this account offers special benefits for traders experienced traders. Although the functionality is as simple as with the standard account, the minimum deposit required is USD 2,000.
However, the profits from FTT transactions in the VIP account increase by up to 90 %. And that's just one of the perks, as their holders also enjoy personalized counseling and education sessions, and 50 % deposit bonuses.
Different options for registration
The options for registration on this platform are varied. To open an account, it is possible to do it from the web portal by filling out the form, or through an account at Facebook or Google.
Here are the steps to create a trading account at Olymp Trade:
- Fill out the form with the required data.
- Choose a password.
- Verify the conditions of use of the platform.
- Click on "Register".
After registration, it is possible to log in and start trading. The traders are greeted with an interface with a variety of functions, such as multiple chart types (bars, candlesticks, Heiken Ashi), analysis tools and even economic news.
After registration, a free demo account is automatically opened. If the trader you want to start trading with real money, you must fund your account with the button "Deposit".
Advantages for traders of Olymp Trade
Users of this platform point out some of the advantages of operating with this intermediary. We highlight below the most relevant ones:
This broker offers several alternatives for mobile trading. The first one option is via the Internet without downloading the App. This system has a improved interface for smartphones y tablets.
The second option is to download the App Olymp Trade. In case you have an iPhone or iPad, you can find the app in the Apple store. On the other hand, the Android version is available in the Play Store. The mobile platform of this broker is fast, providing reliable and real-time response to its users.
Attention and education
This is a valuable opportunity offered by this platform. For those new to the trading appreciate the personalized advice and attention to carry out their operations and clear their doubts.
Olymp Trade has a efficient department that provides comprehensive support. Customer service representatives are available day and night through a variety of channels (email(e.g., phone line and live chat).
Olymp Trade has taken the education of its customers very seriously. Therefore, it has a dedicated section exclusively to educational resources. There, the traders have more than 150 webinars totally free, plus nearly 200 resources to train both novices and experts.
Expert recommendations for Olymp Trade trading
As in any other investment field, in order to operate in Olymp Trade knowledge is required. Knowing the policies and operation of the platform is the first step to a successful trading experience.
This broker has turned out to be reliable and user-friendly interface, which is ideal for inexperienced users. trading. First of all, it is advisable to take advantage of education and training offered by this company. The demo account is excellent for this purpose.
Additionally, it should always be remembered that FTT operations are high risk. These are financial instruments that require extensive knowledge to handle. Therefore, it is worth to be cautious, as it is possible to earn a lot of money, but also to lose it.
In conclusions, Ideally, it is best to start with the demo of Olymp Trade and minimal investment. Of course, expert advice always comes in handy when making decisions, especially when it comes to financial investments.