Overall OliveFX is a trustworthy and low-risk broker with a high overall rating of 8 out of 10. OliveFX is authorized and regulated by ASIC and offers leverage up to 1:500.
OliveFX at a Glance
| 🔎 Broker's Name | OliveFX |
| 📍 Headquartered | Sydney, Australia |
| 📅 Year Founded | 2018 |
| ⚖️ Regulating Authorities | The Australian Securities and Investments Commission (ASIC). |
| 🌐 Countries not accepted for trade | The United States |
| ☪️ Islamic Account (Swap Free) | Yes |
| 👍 Demo Account | No |
| 📊 Institutional Accounts | Yes |
| 📊 Managed Accounts | Yes |
| 📈 Maximum Leverage | 1:500 |
| 💰 Minimum Deposit | $ 200 / R 3403.28 |
| 💳 Deposit Options | Bank Transfers, Visa, Mastercard, and PayPal |
| 💳 Withdrawal Options | Bank Transfers, Visa, Mastercard, and PayPal |
| 💻 Platform Types | MetaTrader 4 |
| 📱 OS Compatibility | Yes, Desktop and Mobile |
| 📈 Tradable Assets | FX currency pairs, CFDs, Indices, Energies, and Precious Metals. |
| 👨💼 Languages supported on Website | English |
| 👥 Customer Support Languages | English |
| 📆 Customer Service Hours | Information not available |
| 👉 Open a account | 👉 Click Here |
Min Deposit
USD 200
Regulators
ASIC
Trading Platform
MT4
Crypto
Yes
Total Pairs
70
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
OliveFX Review – 19 key points quick overview:
OliveFX Overview
According to research in South Africa, OliveFX is an Australian diversified financial services company with business divisions in financial advice, superannuation, investments, wealth management, insurance, trading, derivatives trading, and clearing and execution services.
OliveFX was founded in 2018 and is owned and operated by Olive Financial Markets Pty Ltd.
OliveFX Safety or Security
One of the best benchmarks to measure the safety of a broker like OliveFX is to establish which regulating authorities are watchdogs over its actions.
OliveFX is regulated by the Australian Securities and Investments Commission (ASIC).
OliveFX Leverage
Leverage is a facility that enables you to get much larger exposure to the market you are trading than the amount you deposited to open the trade. Leveraged products, such as forex trading, magnify your potential profit but also increase your possible loss.
Leverage amount is expressed as a ratio, for instance, 50:1, 100:1, or 500:1. Assuming that you have $1,000 in your trading account and you trade ticket sizes of 500,000 USD/JPY, your leverage will equate to 500:1.
Margin is the amount of collateral to cover any credit risks that may arise during your trading operations. It is expressed as the percentage of position size (e.g. 5% or 1%), and you must have funds in your trading account to ensure sufficient margin.
For example, on a 1% margin, a position of $1,000,000 will require a deposit of $10,000. The margin level in a trading account needs to be equal to or more than 100% to be able to open new trades; otherwise, your trading account will be fully hedged.
OliveFX offers a maximum leverage ratio of 1:500.
OliveFX Accounts
A forex account at OliveFX is a trading account that you will hold and that will work similarly to your bank account, but with the difference that it is primarily issued with the purpose of trading on currencies.
Forex Islamic accounts are also known as swap-free accounts as they imply no swap or rollover interest on overnight positions, which is against the Islamic faith.
Often, the number and type of accounts that a trader can open with a broker company differ depending on the country in which it operates and the regulatory authorities under whose jurisdiction it falls.
OliveFX only offers a Standard account. The minimum deposit when registering an account is 200 USD. Leverage up to 1:500 is offered on this account and spreads are floating and start from 0.8 pips.
This account is not suited for all traders least of all beginners. There is no substantial information on the commissions that traders can expect when trading with this account.
Min Deposit
USD 200
Regulators
ASIC
Trading Platform
MT4
Crypto
Yes
Total Pairs
70
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
OliveFX Market instruments
The most popular market instruments available from most brokers for trading include:
Forex
Forex trading describes the currency exchange market which refers to the global, decentralized marketplace where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
Commodities
Commodity markets offer many investment opportunities for traders. Soft commodities have been traded for centuries and play a major role in portfolio diversification and risk management.
Investing in contract-based tradable goods is a reliable way to mitigate risk during times of economic uncertainty.
Indices
Equity, or stock indices, are actual stock market indexes that measure the value of a specific section of a stock market. They can represent a specific stock market or a specific set of the largest companies of a nation.
Precious metals
The trading of gold and other precious metals, along with crude oil, copper, or petroleum, are hard commodities that play a major role in the commodities market and are contract-based tradable goods.
Energy
The typical feature of energy prices is high volatility due to the influence of political and environmental factors, supply and demand, extreme weather conditions, and global economic growth.
OliveFX offers the following from the above:
- Forex currency pairs
- CFDs
- Indices
- Energies, and
- Precious Metals
OliveFX Fees
Cost depends on different factors, like spread and margins, and OliveFX clients may also experience different fee structures according to their country or place of residence.
The spread of a currency pair is the difference between the bid and the asking rate. A pip represents the smallest increment that an exchange rate can move.
Margin is the amount of money required in your account in order to open a position. Margin is calculated based on the current price of the base currency against USD, the size (volume) of the position, and the leverage applied to your trading account.
OliveFX does not offer substantial information on whether they charge a commission on trades or whether they offer commission-free trading.
The broker offers an attractive spread that begins at 0.8 pips.
OliveFX Deposit and withdrawal
Accounts usually require a certain minimum initial deposit, which can be paid in several ways. Withdrawals can usually be made through the same avenues as deposits, but this may differ from one broker to the next.
OliveFX requires a minimum deposit of 200 USD and offers the following methods where deposits and withdrawals are concerned:
Bank Wire Transfer
Visa
Mastercard, and
PayPal
Min Deposit
USD 200
Regulators
ASIC
Trading Platform
MT4
Crypto
Yes
Total Pairs
70
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
OliveFX Trading platforms
The forex trading platform provided by OliveFX is the software to carry out trades. Some brokers provide only one trading platform whereas others offer several.
A multi-asset trading platform is one that allows clients to trade forex as well as other asset classes. The decision about which platform to choose will usually depend on what a client would like to trade.
OliveFX provides the viral MetaTrader 4 platform through which trades can be executed.
This platform has dominated the retail market for the last 15 years. It has proven itself as exceptionally reliable, and light, and boasts a user-friendly interface that is suitable for both beginner and expert traders alike.
MetaTrader 4 comes loaded with an impressive range of advanced charting tools as well as nearly a hundred customizable market indicators and trading robots, also known as Expert Advisors, which allow one to easily run algorithmic trading sessions.
How to open an OliveFX account step by step
Opening a demo account with OliveFX is a relatively simple process, which will consist of the following steps:
Step 1 – Open Your Account
Visit the OliveFX website, Click on “Registration” in the top left-hand corner of the website
Step 2 – Fill out the form
As with a bank, to register a forex trading account with OliveFX for the first time, you will be required to go through a basic “know your customer” process.
This will allow OliveFX to ascertain that your submitted details are correct and ensure the safety of your funds and account details.
With OliveFX, the process entails logging onto their website and filling in some basic information, you will be asked to provide proof of your bank account, residence, and a copy of your legal ID.
You may also be required to answer a few questions regarding your level of trading experience. Once this is completed you wait for your account approval, make your minimum deposit requirement, and start trading.
Min Deposit
USD 200
Regulators
ASIC
Trading Platform
MT4
Crypto
Yes
Total Pairs
70
Islamic Account
Yes
Trading Fees
Low
Account Activation
24 Hours
OliveFX Customer support
Potential traders need to make sure the broker company they chose will offer adequate support whenever they need it.
OliveFX customers can reach the support team via telephone, email, or call back page on the website. There is no information available regarding the times during which customer service is available.
OliveFX Education
Before starting to trade, potential clients of OliveFX should avail themselves of all possible information and trading skills needed to be successful in the world of forex and commodity trading.
OliveFX offers their clients a full glossary of forex trading terms, an intro to forex trading, an intro to CFDs trading, and a frequently asked questions sheet.
OliveFX Research
To be able to trade with confidence, traders should conduct thorough research on speculative trading before trading can commence. Traders should explore every deal to ensure that they do not lose money unnecessarily and trade as profitably as possible.
OliveFX provides access to an economic calendar and lives market news in addition to the helpful research tools that come standard with the MetaTrader 4 platform.
OliveFX Awards
Although OliveFX is praised by customers, there is no indication of awards won on its homepage.
OliveFX vs Etoro vs XM – Comparison Table
| 🔎 Broker | 🥇OliveFX | 🥈 eToro | 🥉 XM |
| 💰 Minimum Deposit | $ 200 / R 3403.28 | $1000 USD | $5 USD |
| 📝 Sign-Up Bonus | No | ☑️ Yes | ☑️ Yes |
| ➕ Max. Leverage | 1:500 | 1:400 | 1:888 |
| 💵 Currency Pairs | 70 | 47 | 57 |
| 🚀 Open an Account | 👉 Click Here | 👉 Click Here | 👉 Click Here |
OliveFX Pro and cons
| ✔️ Pros | ❌ Cons |
| Tight spreads | No demo account |
| STP trading | No information on commissions charged |
| Sound regulation |
Conclusion
Overall, OliveFX is a trustworthy and reliable broker that provides traders with ample digital tools. OliveFX provides the top-rated MetaTrader 4 platform through which trades can be executed.OliveFX has a Maximum Leverage of 1:500.
Disclaimer
OliveFX warns potential customers that Forex and CFDs trading carries a high risk and may not be suitable for all investors.
Before deciding to trade with OliveFX, potential traders are advised to carefully consider their investment objectives, financial situation, needs, and level of experience before investing money they cannot afford to lose.
OliveFX warns that margin trading involves the potential for profit as well as the risk of loss.
Movements in the price of foreign exchange and commodities are very unpredictable, hence OliveFX cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
Risk Management
Risk management refers to the process of identifying, assessing, and controlling risks that are inherent in financial trading activities. It’s an essential aspect of trading that helps traders minimize their losses and maximize their profits.
For a broker like OliveFX, risk management would involve implementing measures to mitigate the risks that its clients face when they trade with them. This can include measures like setting limits on the maximum exposure a client can have, offering negative balance protection, implementing strict security measures to protect clients’ funds, and regularly monitoring market conditions to detect and address potential risks.
It’s important to note that while risk management can help reduce the risks of trading, it can never completely eliminate them. It’s up to individual traders to assess their own risk tolerance and make informed trading decisions.
Frequently Asked Questions
How many instruments can I trade with OliveFX?
You can trade a number of different instruments with OliveFX, which includes the following:
- Forex currency pairs
- CFDs
- Indices
- Energies, and
- Precious Metals
Which platforms are supported by OliveFX?
OliveFX provides the following popular trading platforms:
- MetaTrader4
What spreads can I expect with OliveFX?
OliveFX offers a competitively tight spread that begins at 0.8 pips. Should details on the website be incomprehensive, more information can be obtained from customer support.
Does OliveFX charge a commission?
This is not indicated. More information on commissions can be obtained from customer support.
What is the overall rating out of 10 for OliveFX?
OliveFX overall rating is 8/10.
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