Overall, Olymp Trade is very competitive in terms of its trading fees and spreads. Their spreads are low compared to other regulated brokers, and there are no hidden trading fees. Olymp Trade is headquartered in St. Vincent & the Grenadines.
Olymp Trade at a glance
| 🔍 Brokers Name | Olymp Trade |
| 📍 Headquartered | St. Vincent and the Grenadines |
| 📅 Year Founded | 2014 |
| 🏛 Regulating Authorities | International Financial Commission (FinaCom) |
| 🌐 Countries not accepted for trade | United States and United Kingdom |
| ☪️️ Islamic Account (Swap Free) | No – All accounts are Sharia compliant |
| 📒 Demo Account | Yes |
| 💻 Institutional Accounts | No |
| 💻 Managed Accounts | No |
| 📊 Maximum Leverage | 1:500 |
| 💰 Minimum Deposit | $10 |
| ZAR | R160 ZAR |
| 💳 Deposit Options | Credit/Debit Cards Neteller Skrill Bitcoin WebMoney FasaPay Bank Wire Transfer |
| 💳 Withdrawal Options | Credit/Debit Cards Neteller Skrill Bitcoin WebMoney FasaPay Bank Wire Transfer |
| 📉 Platform Types | Olymp Trade Platform |
| 📲 OS Compatibility | Web browsers, Android, iOS |
| 📊 Tradable Assets | Commodities Stocks Indices ETFs Forex Cryptocurrencies |
| 🌐 Languages supported | English, Chinese, Portuguese, Spanish, French, Filipino, Russian, Malaysian, Indonesian, Turkish, Vietnamese, Arabian, Hindi, Thai, and more. |
| ☎ Customer Service Hours | 24 hours a day/7 days a week |
Min Deposit
USD 10
Regulators
IFC
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Olymp Trade Review Revealed – A Key 24-Point Quick Overview
- ✅Olymp Trade at a glance
- ✅Olymp Trade Overview
- ✅Olymp Trade Safe or scam
- Olymp Trade Sign-up Bonus
- Olymp Trade Referral Bonus
- Olymp Trade Minimum Deposit
- Olymp Trade Account Types
- Olymp Trade Account Features
- How to Open an Olymp Trade Account – Step by Step
- Olymp Trade Demo Account
- Olymp Trade Islamic Account
- Olymp Trade Fees and Spreads
- Olymp Trade Deposit fees and deposit methods
- A Step-by-step guide to depositing the Olymp Trade minimum amount
- Olymp Trade – Trading Platforms
- Olymp Trade vs Juno Markets vs JFX Corporation – A Comparison
- Top Countries by Similar Web – Olymp Trade
- Olymp Trade Current Popularity Trends
- Olymp Trade Pro and cons
- Olymp Trade Customer Reviews
- Conclusion
- Disclaimer
- Frequently Asked Questions
Olymp Trade Overview
According to research in South Africa, Olymp Trade is a popular online forex brokerage that was founded in 2014. There are already over 25,000 clients who are currently trading on its platform every day. The platform is a subsidiary of two companies – Smartex International Limited and Frandom Holding Limited. Smartex is a registered member of the Financial Commission which acts as a complaint settlement authority dealing with unregulated binary and forex brokers.
Established in 2014, Olymp Trade is an STP broker headquartered in Saint Vincent and the Grenadines. Olymp Trade is owned and operated by Industries Limited and has more than 25,000 registered users which use its platform daily, with more than 240,000 clients who execute trades monthly.
Olymp Trade boasts a significant trading volume of more than $170 million (2.5 billion ZAR) in turnover monthly, with trading volumes increasing steadily as more traders register with the broker.
Olymp Trade has won several industry awards including “Best Trading Platform” in 2018, Best Options Broker, Innovative Broker, and more. Olymp Trade also had a sports sponsorship for the LCR Honda team at the MotoGP in 2019. Olymp Trade is not regulated by any known regulatory entity but is a member of the Financial Commission (FinaCom PLC), a conflict resolution commission tasked with settling conflicts between member brokers and their clients.
When traders submit a claim to FinaCom and they win the case, they can get compensation of up to €20,000 (400 000 ZAR). A membership with FinaCom cannot be compared to the regulation and authorization given by agencies such as ASIC, CySEC, or FCA and therefore, traders must proceed with caution when they register an account with an unregulated broker such as Olymp Trade.
The platform and website for Olymp Trade are protected by 256-bit Secure Socket Layer (SSL), providing traders with a digitally safe transaction environment. All data to and from Olymp Trade’s servers are protected by SSL to prevent cyber-crimes such as identity theft, hacking, and phishing.
Olymp Trade Safe or scam
One of the best benchmarks to measure the safety of a broker like Olymp Trade, is to establish which regulating authorities are watchdogs over its actions. Olymp Trade is regulated by the International Finance Commission (IFC).
Olymp Trade Sign-up Bonus
Olymp Trade does not offer new or existing traders a deposit bonus which provides traders with trading credit back depending on their deposit amount. Olymp Trade also does not offer a no-deposit bonus which allows traders to start trading without capital.
| 🎉 Sign - Up Bonus | ❌None |
| 🎉 Loyalty Program | ❌None |
| Partnership Program | ☑ |
Olymp Trade Referral Bonus
Olymp Trade does grant traders the option of a referral bonus. A referral bonus is an incentive that works to reward both traders and their successful referrals. Traders who have registered a real account and deposited their initial investment are given a unique code.
Olymp Trade Partnership Program
Olymp Trade is a broker that has operated for over five years. It is represented in more than 100 countries and has received dozens of international awards. Start working with us and get 50% to 60% of the income from each client you register on MetaTrader 4.
Olymp Trade Minimum Deposit
Olymp Trade has a minimum deposit requirement starting from $10 (160 ZAR). The minimum deposit amount, or minimum investment amount, depends on the account status of the trader and what they choose when they sign up for a live trading account with Olymp Trade.
| 💳 Minimum Deposit | $10 |
| ZAR | R160 ZAR |
Olymp Trade Account Types
Olymp Trade does not offer conventional trading accounts like other brokers. Instead, Olymp Trade offers traders account statuses, each featuring its own specifications and benefits. The higher the account status, the more advantages traders will receive. These statuses are as follows:
| 🌐 Starter Account |
| 🌐 Advanced Account |
| 🌐 Expert Account |
Olymp Trade Account Features
Starter Account
This is the entry-level status that suits beginner traders, allowing them to get to know the unique trading solutions that Olymp Trades offers before advancing to the next level. This account has the following unique features:
| ▶ Minimum deposit from $10 (160 ZAR) up to $2,000 (32 000 ZAR) |
| ▶ A rate of return up to 82%, and more |
| ▶ Maximum of between 10 and 100 open positions |
| ▶ Access to 10 indicators |
| ▶ Access to one sound package |
| ▶ Access to individual training |
| ▶ Access to trading signals |
| ▶ Standard fund withdrawals which take up to 2 working days |
Advanced Account
The Advanced Account offers more advanced traders with competitive trading conditions and the following unique specifications:
| ▶ A minimum deposit of $500 (8 000 ZAR) |
| ▶ A rate of return up to 85% and more |
| ▶ Maximum of between 20 and 100 open positions |
| ▶ Commissions up to 13.5% |
| ▶ Accelerated withdrawals completed within one business day |
| ▶ Trailing stop-loss |
| ▶ Access to basic trading signals |
| ▶ Access to one Expert Advisor |
| ▶ Access to basic education |
| ▶ Access to between 6 and 7 unique strategies |
| ▶ One consultation a month with a personal analyst |
| ▶ Access to 11 indicators as well as special materials |
| ▶ One specialized webinar a week |
| ▶ Access to two sound packages |
Expert Account
The Expert Account caters specifically to expert and professional traders, offering them the following:
| ▶ A minimum deposit of $2,000 (32 000 ZAR) |
| ▶ A rate of return up to 92%, and more |
| ▶ Commissions up to 20% |
| ▶ Rapid withdrawals within an hour |
| ▶ Risk-free trades up to 5% of the deposit, only on the first deposit |
| ▶ Maximum of between 30 and 100 open positions |
| ▶ Trailing stop-loss |
| ▶ Access to basic trading signals |
| ▶ Access to three Expert Advisors |
| ▶ Access to basic and private education |
| ▶ Access to between 12 and 15 unique strategies |
| ▶ Four consultations a month with a personal analyst |
| ▶ Access to 14 indicators as well as special materials |
| ▶ three specialized webinars a week |
| ▶ Access to special materials and exclusive trading ideas |
How to Open an Olymp Trade Account – Step by Step
To register for a live account with Olymp Trade, traders can follow these steps:
Step 1 – Visit the official Olymp Trade website and select the option to register.
Select “Start Trading” from the homepage to proceed to the application process.
Step 2 – Olymp Trade’s Online Application
The trader will be redirected, and a pop-up window will prompt the trader for their email address, user-selected password, and a choice between USD and EUR as the base account currency. Alternatively, traders can use either their Facebook or Google credentials or Apple ID to register on the website.
Step 3 – Training with Olymp
Once complete, the trader will be redirected to a new page that features a training slideshow consisting of ten informative slides, providing traders with basic information on trading, specifically on trading with Olymp Trade using its trading solutions.
Step 4 – Access the Olymp Trade Platform
When traders have completed the trading, they will be redirected to their live account where they can start trading.
Olymp Trade Demo Account
The demo account that Olymp Trade offers its traders can sever several purposes unique to each trader that uses it. The purpose of the demo account is to mirror the trading conditions and features that Olymp Trade has as part of its unique trading solutions, allowing traders to use virtual funds to trade in a risk-free account without touching their own capital.
| 🌐 Olymp Trade Demo Account Features: | 100% Risk 🆓 |
| Live Trading Conditions | |
| Virtual Funds $10 000 |
Olymp Trade Islamic Account
An Islamic, or swap-free, trading account is one that is allowed by Islamic Sharia law. These accounts are based on the Islamic principle where interest is not applied to positions that are held open for longer than a trading day after the trading day has concluded. Islamic Accounts are provided by brokers who serve Middle Eastern clients along with clients from other jurisdictions and offer certain features that are in line with the Sharia law, which prohibits the accrual of interest on funds deposited into the account.
| No Islamic account offered |
Olymp Trade Fees and Spreads
Olymp Trade does not charge a spread list. Traders who register a real account with Olymp Trade are exempted from paying a spread. However, Olymp Trade charges commissions of up to 13.5% on the Advanced Account and 20% on the Expert Account.
Overnight Fees | ☑ |
Spread Betting Fees | ❌ |
Olymp Trade Deposit fees and deposit methods
Olymp Trade’s initial investment is very low, especially when compared to that of competitors. The $10 (160 ZAR) minimum deposit can be paid into the trading account using any of the following payment methods:
| 💳 Credit/Debit Cards |
| 💳 Neteller |
| 💳 Skrill |
| 💳 Bitcoin |
| 💳 WebMoney |
| 💳 Fasapay |
| 💳 Bank Wire Transfer |
When making the minimum deposit, traders can use any of the following supported deposit currencies:
▶ USD
▶ EUR
▶ ZAR
A Step-by-step guide to depositing the Olymp Trade minimum amount
Once the trading account or status has been approved, traders can follow these steps to make the minimum deposit:
Step 1 – Log in to Olymp Trade
Select “Login” from the homepage to proceed.
Step 2 – Select Payments and Deposit
Once the traders log into their member’s area and select “make a deposit” from the top right corner of the interface.
Step 3 – Select the preferred payment method
Traders will be redirected to the payment page where they can select their preferred payment method by clicking on one of the logos on the screen. Next, the trader can indicate the amount that they wish to deposit according to their account status.
Step 4 – Lastly, traders can follow the instructions or prompts to complete and verify their deposits.
Traders must note that as a result of limited deposit currencies they may be subjected to conversion fees. Traders must also ensure that the name on their bank account from where they transfer funds and the name in which their trading account is registered, is the same.
Olymp Trade – Trading Platforms
The forex trading platform provided by Olymp Trade 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.
Olymp Trade provides its own proprietary trading platform through which trades can be executed.
Olymp Trade vs Juno Markets vs JFX Corporation - A Comparison
| 🥇 Olymp Trade | 🥇 Juno Markets | 🥇 JFX Corporation | |
| 💳 Minimum Deposit | $10 | $100 | $2000 |
| 🎉 Bonus | ❌ | ☑️ | ❌ |
| 💻 MT4 | ❌ | ☑️ | ☑️ |
| ☪️️ Islamic Account | ❌ | ☑️ | ☑️ |
Top Countries by Similar Web - Olymp Trade
| 🌐 India | 📌 26.08% |
| 🌐 Egypt | 25.30% |
| 🌐 Vietnam | 4.09% |
| 🌐 United Arab Emirates | 4.04% |
| 🌐 Ukraine | 3.89% |
| 🌐 Others | 36.61% |
Olymp Trade Current Popularity Trends
According to Google Trends, here is an overview of how frequently the search term – “Olymp Trade” is entered into Google’s search engine over a given period of time.
Olymp Trade Pro and cons
| ✔️ Pros | ❌ Cons |
| High leverage | Fees charged per trade |
| Low minimum deposit | Regulation lacking |
Olymp Trade Customer Reviews
Good customer support
Olymp Trade gives the best support service so far. I feel very fortunate to be part of a Multilingual broker – Amos
Great account offerings…
Great website with service offerings, good detail on live trading options.. – Emelda
Partnership Program on the website – Check it out
I enjoy the opportunities to earn an income through Partnership programs offered by forex brokers – Dom
You might also like: Olymp Trade Demo Account
You might also like: Olymp Trade Fees and Spreads
You might also like: Olymp Trade Minimum Deposit
You might also like: Olymp Trade Sign-up Bonus
You might also like: Olymp Trade Account Types
Min Deposit
USD 10
Regulators
IFC
Trading Platform
Proprietary Platform
Crypto
Yes
Total Pairs
0
Islamic Account
No
Trading Fees
Low
Account Activation
24 Hours
Conclusion
Olymp Trade can be described as a broker which offers attractive trading conditions, a generous amount of educational material. In addition, Olymp Trade offers tight spreads help to attract new clients although the broker would benefit from obtaining better regulation.
Disclaimer
Olymp Trade 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 Olymp Trade, 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.
Olymp Trade 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 Olymp Trade cannot guarantee a maximum loss that a trader may suffer, according to research in South Africa.
Frequently Asked Questions
Is Olymp Trade legit?
Yes, Olymp Trade is regulated by the International Finance Commission (IFC).
Which platforms are supported by Olymp Trade?
Olymp Trade supports the Olymp Trade proprietary platform
Does Olymp Trade manipulate the market?
No, Olymp Trade does not manipulate the markets.
For which type of trader is Olymp Trade best suited?
Olymp Trade offers a suitable environment for both beginners and experts.
What is the overall rating out of 10 for Olymp Trade?
The overall rating for Olymp Trade is 7/10.
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