"Olymp Trade" presents itself as a regulated and licensed brokerage company that has been providing its services for 7 years. According to the project, its staff consists of experienced developers, financial experts, and support specialists who make every effort to provide traders with the most favorable and comfortable trading conditions. The official website, olymptrade.com, supports 13 interface languages, including Russian. The main page of the Russian-language version of the web resource looks as follows:
Legal information about the project is published in the site's footer. It states that the broker's website is owned and operated by Saledo Global LLC, which is registered in Saint Vincent and the Grenadines. The intermediary claims that its activities are fully licensed according to the legislation of the country of registration. However, the site does not contain a single official document (certificate of incorporation or license) that would confirm the company's registration and licensing status.
Olymp Trade places special emphasis on the fact that it is a member of the International Financial Commission (FinaCom), which monitors compliance with the principles of transparency and honesty towards clients. Evidence of the company's membership in this regulatory body is not presented on the site.
The management of this broker uses a number of websites with the domain addresses: olymptrade.com, olymptrade-vn.com, ir-olymptrade.com, olymptrade-my.com, olymptrade-din.com, olymptrade-mys.com, uolinkopen.com.
Account Registration on olymptrade.com
Before starting to trade, you must register and create a personal account. Registration on the site is free and simple. It only requires providing an email address and password, selecting the account currency, and accepting the service's terms of use.
After that, users need to download the appropriate version of the trading platform (for computers or mobile devices), select the required account type (demo or real account), and can start trading.
The algorithm for trading binary options includes the following stages:
Choosing a suitable asset.
Determining the investment amount – the larger the deposit placed, the higher the profit accrued in case of a successful forecast.
Specifying the duration of the trade (from one minute to three hours).
Determining the asset's price movement – up or down.
The project also has a bonus system. To receive bonuses, you must enter a promo code when funding the account. Special codes can be obtained from the funding menu on the platform, the system after achieving a certain trading turnover, and the company's official communities.
Available Markets and Trading Platform of Olymptrade
Users are provided with the Olymp Trade trading platform, which is the broker's proprietary development. The terminal supports all types of devices (phones, computers, tablets) and all operating systems (Android, iPhone, Windows, etc.).
Among the distinctive features of their trading platform, the developers highlight:
The ability to test financial instruments without loss by entering risk-free trades.
The use of a refillable $10,000 for practice on a demo account.
Setting up unique platform add-ons for more comfortable and profitable trading.
The ability to create an individual trading style with the help of a personal analyst.
Access to free training with ready-made strategies, video instructions, and webinars.
The main instrument the broker uses for online earning is binary options. The essence of profiting lies in determining the direction of the asset's price. In case of a correct forecast, the trader earns; in case of an incorrect choice, they lose the investment. Trading on Olymp Trade is possible using various financial instruments, including currencies, stocks, metals, indices, commodities, cryptocurrencies, and other liquid assets.
Trading Accounts of the Broker Olymp Trade
Ready-made trading accounts for trading are not presented on the site. The minimum investment amount for the project is $10/€10. The minimum trade size is $1/€1/₽70. To evaluate the advantages of the trading platform, clients can use the free practice account version. In this case, there is no need to fund the account or deposit real money.
The company's website also states that a monthly fee of $10 or the equivalent in the chosen registration currency is charged for the maintenance of accounts that have had no activity for 180 days.
Traders can ask any questions to the support service representatives. Customer service is available 24/7. Available contacts include phone numbers, a feedback form, social networks, and an online consultant chat.
Depositing Funds and Withdrawing Money from Olymptrade
Users can open a deposit and withdraw money using various payment methods. Available payment services are presented in the site's footer in the form of logos.
Financial operations on the platform are carried out under the following conditions:
Traders can withdraw accrued profit at any time without additional conditions.
Bonuses accrued by the company cannot be withdrawn and are canceled if a withdrawal request is submitted.
There are no fees or restrictions on depositing/withdrawing funds (all costs are compensated by the broker from its own funds).
Money can only be withdrawn using the same method that was used for depositing.
The minimum withdrawal amount is $10/€10.
More information regarding monetary transactions can be found in the company's help center.
Brief Conclusion about Olymptrade
After analyzing the information presented on the broker's website, several questionable points were found that cast doubt on the reliability and prospects of using its platform. These include: the lack of a registration certificate and an obtained license, the project's complete anonymity (absence of data about the creators and team members), and the company's registration in an offshore jurisdiction.
To find out whether it is actually possible to earn on the intermediary's platform and how safe it is to use its services, one should rely on the experiences of other clients and the opinions of experts. Real reviews about Olymp Trade are best suited for this task.
