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For a trader with no trading experience in financial markets a VIP-account may be a sensible approach! All you need to become a VIP-trader is to refill the balance for the sum from 2000 USD/2000 euro. The question about the broker quotations is one of the most popular ones by traders of any platform as they effect the trading efficiency, possibility of using various strategies here . The OlympTrade broker declares, that using quotations of big investment companies it publishes in the terminal their average-weighted value. So this information will certainly differ from MT4 data, but it’s displayed directly on the platform, asset values are equal for all traders and remain under the tab «Quotations». Olymp Trade offers traders a wide range of financial instruments, mainly Forex currency pairs, commodities, indices, stocks, cryptocurrencies, exchange-traded funds, and OTC. It was about a difference between the prices shown on the real and demo account.
In case of a failure to fulfill its legal obligations to the regulatory body, the brokerage company’s license to provide financial services shall be revoked. The broker is a eur member of the International Financial Commission . The organization not only regulates the provision of financial services but is also a consumer protection organization.
The platform offered by Olymp Trade is very self-explanatory and it is easy to navigate. It also offers technical indicators, several analysis tools for its traders. A history tab is also seen at the bottom of the page where the trader can review the progress of their chosen asset. We get to know from Olymp Trade reviews that it is highly recommended for beginners who want to trade for the first time.
One should always know that in the EU, trading bonuses are banned and several other regulated markets. Olymp Trade regularly provides the new trader’s promo codes to avail bonuses of up to 50%. When the new users are signing up, they will receive promo codes and a 50% bonus on top of their minimum initial deposit. Olymp trade offers competitive spreads when compared with other online brokers that are available in the market. Olymp Trade is regulated by FinaCom, which shows it is a trusted and reliable online broker. Since its Inception, this broker has provided several new features for the traders, and one of the outstanding features is the minimum deposit, which is as low as $10.
Withdrawals take under one day with most payment systems you might want to use. For example my last withdrawal took only 25 minutes to get completed. When you start working in the OT, your idea Olymp Trade Forex Broker Review of trading changes. But I am not particularly impressed with the number of technical tools. All reviews represent only their author’s opinion, which is not necessarily based on the real facts.
Before starting trading, the trader should understand the different terminologies and the resources to execute good trades. Also, they should understand about leveraging the resources and use them for their benefit. One of the reasons why you should look out for a broker who is regulated is that the regulated broker keeps the trader’s money safe, and they will not use the trader’s money for other purposes. Tell our team and traders worldwide about your experience in our User Reviews tab. At the time of this review no bonuses or promotions were offered. This picks up where the previous section ended and further enhances on the topic of technical analysis. Besides answering basic questions more broadly than in the website’s FAQ section, OlympTrade uses this to highlight special discussions where a VIP account is also mentioned.
In case the prediction is correct, the trader will receive the $100 back plus $82 while the broker theoretically books $18 in profits. As a member of FinaCom, OlympTrade “users” as the company refers to its traders, are covered up to €20,000 per complaint as per guidelines of the FinaCom Compensation Fund. As I knew they wanted to eat away my 200$ therefore I purposely wasted it on trade and uninstalled their app bidding them farewell. Watch reply from fraudulent company below, just like I said it would be like.
There are quality reviews of indicators available on its official website, trading strategies, a wide range of webinars. There is no detailed information about spreads on the official Olymp Trade website. By testing a standard demo account, the spread on EURUSD is around 1.1 pips. Olymp Trade charges a fixed rate of overnight fees for overnight trades, up to 15% of the total investment amount. For accounts that have been inactive for 180 days, Olymp Trade charges a monthly fee of $10. The essential prerequisite to measure the safety of a forex trading platform radical is whether it is formally regulated. Olymp Trade is currently unregulated, which means that users’ trading activities and the safety of their funds cannot be effectively protected.
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It offers a responsive design with the same features as that of the web version, where the traders can execute the trades on their phones without missing out on other features. one of the most advantageous features of Olymp Trade is, it does not charge fees or commissions on the trades that are placed or on withdrawal. In this way, the user can keep whatever they have earned. The standard account holders can gain 80% on successful trades while VIP account holders gain 90% on successful trades.
One additional point merits mention is OlympTrade account manager support for VIPs. Such a manager will be a true friend for a customer since he will help him to get answers on any questions, advice a strategy for executing transactions, money management optimization. One can say his duty is entirely follow the user’s trading making his work effective. The trading products offered by the companies listed on this website carry a high level of risk and can result in the loss of all your funds. The website is designed to serve people and even a beginning trader should find it easy to use the platform. Moreover, you can use the desktop or mobile app what allows you to follow your operations everywhere you go.
- Why would anyone be in need of recovering their money lost with options trading?
- Usually withdrawals take a few days but depending on bank services it may take several days longer for the money to be available in a customer’s bank account.
- The company launched a mobile version and an app in 2013.
- Moreover, the customer support team can also be contacted through social media such as Facebook and YouTube.
- First of all, clients are satisfied with a simple registration process, a small deposit, and the convenient proprietary terminal.
- Traders and students who are interested in trading can watch live stream videos on Facebook or they can join webinars that are hosted on YouTube.
If you are interested, you can register for a trading account. You can always open a free demo account at the beginning and check how it works for you. Once you register on the website and open your free demo account, you are rewarded with access to numerous educational resources. Foreign exchange autotrading There, you will find short instructional videos and webinars that will help you understand trading art better. The next thing that makes Olymp Trade stand out is its demo account. It is a great feature to practice your skills, to try different indicators and various strategies.
Most Common Trading Mistakes Which You Should Never Do !!
For traders’ comfort, apart from online chat, where you can ask current questions to the support, there is a single phone forex analytics number for quick connection to the managers. The company gives special consideration to the contact with a user.
The other is to follow the price movements and sell the trade if you expect it will not end according to your previous assumptions. Olymp Trade periodically organizes contests and provides special offers that create additional opportunities for its customers. The payouts at Olymp Trade may be considered as quite high in comparison to other brokers.
Who Can Use Olymp Trade?
So if you want to gain success, you should have an efficient strategy. To begin with, you might use the Olymp Trade information base with lots of data about the popular strategies. Besides that, you can always glean some info on their Youtube-channel or webinars if you care enough. A simple working knowledge of the legal documents should suffice and if you find anything you disagree with, send an email or simply move along to another platform. Consider each account carefully because you want to ensure your money is working efficiently for you. The online broker has won multiple industry awards such as the Forex Awards’ and the Le Fonti’s Best Trading Platform Awards .
This allows the trader to make more profits when there are fluctuations in the market. This offers reduced risk leverage, that is needed by the small investors when they are planning to build their capital.
Are My Account Details Safe At Olymp Trade?
The conditions seem to be good, but the commission, leverage, and other conditions for many assets are below par, and this is not good! There are no PAMM accounts, and the withdrawal of funds takes a long time. After all, the broker does not have a variety of trading instruments for MT4, although it’s more important than the interface.
In this way, beginners can gain experience and they can improve their skills without a huge investment. There are several Olymp Trade reviews and testimonials offered by the traders that its app is the best online trading app that is currently available.
The Interface Of The Olymp Trade Platform
I have been a customer of forex.olymptrade.com for years. I trust that I’m getting the best products that money could buy and haven’t yet been disappointed. The VIP program is something I like and look forward to more options. I’m trading with Olymp Trade for a long time and it’s really good. A lot of assets, quick withdrawals and a lot of indicators to apply in trading. Olymp trade is good in all regards and I don’t want to change it, but I heard that there’s way to use MT4 and combine it with Olymp Trade.
At Olymp Trade, I like to open positions from my smartphone. It’s convenient, clear, and takes into account a lot of nuances. The same method that was used to fund an account must normally be used to withdraw money. Also, monies will usually only be refunded to accounts in the same name as the trading account. OLYMP TRADE warns potential traders that Forex and CFDs trading always carries a high level of risk, therefore may not be suitable for all investors. With competitive spreads and many educational features, thousands of people make use of this platform every day despite the fact that it is not regulated by reputable authorities.
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