Olymp Trade Review 2024: Trada & Fulfill Your Forex Trading Goals!

Olymp Trade was established in 2014 and is regulated by the International Financial Commission (FinaCom). It provides continuous improvement in its services and an easy-to-use and good trading platform for its users. This platform is considered one of the most reputable and popular brokers and has received many forex awards in the trading space. This Olymp Trade review will explore the platform’s features, benefits, and potential drawbacks to help you determine if this forex broker is the right choice for your trading essentials.

Key Takeaways

• Olymp Trade is regulated by FinaCom.
• Olymp Trade has just over 30 currencies to trade, including major, minors, and exotics.
• It offers an impressive range of currencies, stocks, indices, commodities, crypto, and ETFs.

Sign Up Now

Our Take On Olymp Trade Broker

Since its inception, the broker has become one of the most reputed online brokers owned by Aollikus Limited and Saledo Global LLC. Olymp Trade has been a member of FinaCom (the financial commission) since 2016. The broker caters to several millions of users around the world. It provides over 200 plus trading instruments, including currencies, shares, indices, cryptocurrencies, & commodities.

Olymp Trade offers great tools, features, financial instruments, educational resources, and great customer service for its traders. This platform can be used by both new and advanced traders, and it offers the highest level of security matching industry standards. Free demo trading can be found here, through which traders can practice trading before they proceed with live trading. In 2024, Olymp Trade has 1.5M transactions daily.

as per

Sign Up Now

Pros and Cons

Sign Up Now

Olymp Trade Key Features and Services

Olymp Trade provides several features and services to support its trading services. Here are some of the same:-

Security and Regulation

Olymptrade is a licensed and regulated broker by the Vanuatu Financial Services Commission (VFSC) with license number 40131. Olymptrade is committed to providing the highest quality of service. It is registered with the Financial Commission, an international independent organization dedicated to resolving disputes within the financial services industry. Their traders are protected by the Financial Commission, and deposits are insured up to €20,000. If any external disputes need to be resolved this can be carried out with this commission. It is also registered as a category A class broker. If there are any complaints against the broker, users can appeal to the Finance Commission to solve their disputes. As per many Olymp Trade reviews, this regulatory body offers legal assistance to resolve any issues and it can obtain a compensation of up to 20,000 Euros.

Trading Platform and Tools: Experience

Olymp Trade provide several trading modes and instruments. There are four trading modes you can choose on the platform:

1. Fixed Time mode allows opening limited-time trades with fixed profitability.
2. Flex Trades mode allows gaining high rates of return and the opportunity to close the deal earlier than the preset trading time.
3. Forex is a trading mode that allows users to invest in contracts for differences in various underlyings. This mode allows investors to trade with leverage.
4. In Stocks mode, traders can emulate the acquisition and sale of shares by investing in a CFD on company shares with no leverage.

Below are a few Olymp Trade instruments –

Forex – Traders can engage in major, minor, and exotic currency pair trading in the forex market.

Commodities – Traders can trade in commodities, which may also include energy commodities like natural gas and crude oil along with precious metals like gold and silver.

Cryptocurrencies – Olymp Trade offers trading in cryptocurrencies, including Bitcoin, Ethereum, Litecoin, and Ripple. Traders can make predictions about the changes in prices of these digital assets through cryptocurrency trading.

Indices – Traders can predict general market patterns using common examples of indexes, such as the Dow Jones, S&P 500, and NASDAQ.

Stocks – Trader opportunities may include trading shares of specific companies, depending on the site’s current offerings.

ETFs (Exchange-Traded Funds) – Regarding ETFs, you should expect a limited selection that focuses on targeting the S&P, NASDAQ, and the US Real Estate industry.

Commission and Fees

Spreads 

This forex broker has good reviews and offers some of the most attractive spreads compared to other best forex broker trading platforms. : Olymp Trade has zero spread in Forex and FTT mode. The prices for cryptocurrency and stocks are based on assets. It can be viewed on the live trading platform when the users execute fixed-time trading on the platform.

Monthly Fee

This broker doesn’t charge any monthly fee.

Overnight Fee

As per our Olymp Trade platform review, the Olymp Trade team doesn’t charge an overnight fee for the FTT, Stocks and Flex modes. It charges a fee in Forex mode when the trades are executed overnight. The amount depends on the asset. For the currency pair EUR/USD, it’s 0.0038%, for example.

Inactivity Fee

This broker does not charge any account maintenance fee or custom fees but it charges only an inactivity fee. If you are an active user of the platform, your account will not be subject to a fee. The inactivity fee only applies to customers who have not made trades on a real account or non-trading transactions (deposit or withdrawal activity) for 180 days. The inactivity fee is $10 a month or the equivalent in your local currency. The inactivity fee is not charged when you do not have a balance.

Deposit And Withdrawal Fee

Olymp Trade platform does not charge traders any type of fee for deposits and withdrawals, unlike other platforms in the trading industry that charge a small deposit or withdrawal fee. Before getting acquainted with the site, investors should pay attention to the minimum withdrawal amount and fees with their bank to get the most out of every deal.

Services Offered by Olymp Trade Platform

Here is the list of exactly what types of services are offered by the company-

• As per our Olymp Trade review, this broker is a member of Finacom, which is a regulatory authority, brokers need to comply with its rules and regulations; this ensures that the user’s funds are safe.
• It offers a web platform that can be used on multiple devices, like mobile and desktop versions.
• Olymp Trade offers a stop-loss or take-profit option where users might reduce the high-level risk of loss and make more profits. 
• Olymp Trade offers 100% negative balance protection for its users. This system provides two-factor authentication to safeguard user accounts.
• This financial broker has launched a new reward system known as “Experience Points XP” where it offers its active traders more privileges and perks.
• The website offers its support in multilingual languages which include, English, Spanish, Portuguese, Hindi, Urdu, Arabic, French, Vietnamese, Malay, Thai, Indonesian, Chinese, Russian, Azerbaijani, Farsi, and Korean. It also offers advanced chart options and provides the required settings for a bar, line chart, heikin-ashi, and candlesticks.
• Olymp Trade users can also make use of the real-time trading chatbot assistant

Sign Up Now

Account Types

Olymp Trade offers 3 account types

1. Free Demo Account for beginners to practice trading without risking real money.
2. Trading Account (account you use for trading or holding a certain currency – USD, EUR, or some local currencies.
3. USDT Account ( it is a type of currency account on Olymp Trade. It allows you to make deposits and withdrawals using USDT cryptocurrency.)

Users can upgrade their accounts by getting Statuses.

Olymp Trade Statuses is a customer loyalty program. A trader can reach a Starter, Advanced or Expert status and use a certain set of benefits. The higher the status, the more trading privileges the trader gets.

• Starter – a basic status.
• Advanced – a status with a set of privileges.
• Expert – a top-level status, which enables access to the largest pack of privileges.

Expert and Advanced privileges

• Up to 93% profits (for Expert account, and up to 89% for Advanced account)
• Personal Analyst Trading signals (basic and private)
• Maximum number of open positions (20 for Starter, 50 for Advanced, and 100 for Expert account).
• Unique strategies (12 for Advanced and 20 for Expert)
• Private VIP webinars and more

How to get an Advanced or Expert Status?

• Advanced – you need to deposit at least $500/€500 or USDT 100 to your USDT account
• Expert – you need to deposit at least $2000/€2000 or USDT 500 to your USDT account

You can also upgrade your status by earning experience points (XP), which you can get by making trades on a live account and completing Trader’s Way tasks.

Account Opening Process, Deposits, and Withdrawals

Below given are a few steps about how to trade in Olymp Trade-

Step 1 – Registration

To register, first go to the Olymp Trade website (https://olymptrade.com/) or mobile application and click the Register button. Then, provide details like your email address and password. The next step is to verify the given details.

Step 2 – Demo Trading

When the investor opens an account with Olymp Trade broker for the first time, they will be registered with options trading. When the registration process is complete, the user can proceed with Olymp Trade Login; they can make use of the demo account which is offered free of cost. This demo account is a replica of the live account and they are offered $10000 as virtual funds. This helps experienced traders practice new skills, try out trading strategies, and also to familiarize themselves with the site. In this way, the users will not lose their investment, and they can switch to the live account when they are confident enough to trade using fixed time.

Step 3 – Adding Funds

After registration and practicing with the demo account, the traders can proceed with adding funds to their account that offer different types of options. While adding funds to the account they should select their preferred currency and they need to click the terms and conditions. When this is done they can proceed with live trading and binary options trading.

Step 4 – Live Trading

The team provides two types of live accounts; VIP and regular accounts. As the name suggests, VIP accounts provide exclusive features that are not offered by regular accounts. If the user wants to go for the VIP account, the main thing is they should maintain a minimum amount of $20000.

Sign Up Now

Deposits: This broker offers several options for making deposits. Some of them include bank transfers, credit or debit cards, Skrill, Neteller, and cryptocurrencies. The payments are instantly processed, while the bank transfers take several hours form their personal bank account. Further, it does not charge commissions for deposits and the minimum amount is $10.

Withdrawals: For Olymp Trade withdrawal, the process is carried out faster when the investor uses the same method to withdraw funds that are used for deposits. Withdrawal is processed on the same day; in rare cases, it takes around 3 working days if the bank transfer method is used.

Olymp Trade Bonuses & Promotions

Olymp Trade does not offer bonuses anymore. They were replaced with high profitability.

Olymp Trade platform features one of the highest yields in the market, matching the top-3 brokers, providing you with exceptional returns on your investments. Additionally, Olymp Trade offers Boost Cubes, which are packed with a variety of useful trading tools to give you an edge in the market. These new features replace the previous bonus system, delivering even greater value and benefits to users.

Olymp Trade Tools

Users should need strong insights if they want to trade forex like a pro, for this they should know about trades and how to use the tools to execute profitable trades. 

Olymp Trade have listed out few latest tools which are as follows –

• Trade Analytics –Providing in-depth analytics and recommendations based on the user’s trade history and data. Users can make more informed decisions, feel more confident, identify the most profitable approaches to trading and get motivated by their own achievements.
• High profitability up to 93% – Olymp Trade platform features one of the highest yields in the market, matching the top-3 brokers, providing you with exceptional returns on your investments.
• Risk-free trades – A risk–free trade protects your investment from losses. If you activate a risk–free trade that closes with a negative result, the trade amount will be credited to your account.
• Other Tools – Traders can trade using more tools like 24-hour Trading, Market with Strategies, Signals and Indicators, Great Charting Package, Trading Checklist, Trader’s Profit Calculator, Economic Calendar and Detailed Market Overview.

Olymp Trade Leverage

Olymp platform offers variable leverage size; it is based on the type of trade the trader is planning to execute a transaction. It offers maximum leverage of up to 500:1. For different assets, the values of the minimum and maximum available multiplier (leverage) vary. For example:

• EURUSD min – 50 max – 500
• Bitcoin min – 5 max – 10
• Boom STM 150 (Composite) min – 500 max – 500

For Composites, there is no option to choose the multiplier value; it is always fixed at 500, as per the conditions for this category of assets.

Security Measures

Olymp Trade also has other features that ensure security:

• Two-factor authentication, Face ID / Touch ID: Olymptrade provides top-tier security with two-factor authentication and Face ID or Touch ID.
• Negative Balance Protection: You’ll never risk more than your trading account balance.
• VerifyMyTrade: Olymptrade’s trade execution is confirmed by VerifyMyTrade’s independent expertise.

Customer Support

This company offers customer service that operates 24×7; quality service is offered in 14 languages. The Olymp trade team can be reached through email, phone, and live chat. It also provides a FAQ section that can be seen on the website which is very helpful for users to expect the right answers to the queries. If they couldn’t find an answer to any of the queries, they can kindly contact the Olymp Trade customer support number anytime, which provides immediate guidance to their customers.

Research and Educational Resources

Olymp Trade provides training and educational resources to traders that include analyst support, webinars, live tracking, and analyzing the prices of different assets. It also provides several useful tools like specialized webinars and economic calendars, along with blogs on several topics like productive trading, how markets work that help the investors to keep in touch with the latest risk-free trades, note the market trends and the different trading strategies.

We highly recommend this company for beginners who prefer to trade for the first time. It has a small deposit of $10, a free demo account, and a wealth of resources through “Olymp Trader’s club” for learning.

Loyalty Program

This company offers a customer loyalty program and it is offered in various levels like Starter, Advanced, or Expert status. Each level has a certain amount of benefits. Higher the level, the users are offered more trading privileges for active traders. For example, a starter-level starts with a basic status and for an advanced or expert level, it offers certain privileges like personal account manager that are not offered on the starter level.

Affiliate Program

Olymp Trade team offers a referral program that helps users to earn passive online income with time trading with this broker. This online broker provides a partnership option for the Olymp Trade affiliate program to get this as a source of income. To create an account, the investor should go to the website’s home page and click on the link. It will send a link to the trader, where they can send it to the family members or friends. When they join using the link, they earn 50 to 60% through the referral link.

Forex Trading Mobile App

Olymp Trade has a forex trading mobile app that can be used on tablets or smartphones with a stable internet connection; it is available for IOS and Android devices. This app can be easily downloaded from the Google Play Store or Apple app store directly.

The Olymp Trade mobile application is highly rated in customer rating and it provides a responsive design that has the same capabilities as that of the web version. This implies that traders who are speculating using their mobile phones are not missing out on any feature. Traders who trade successfully using mobiles are provided a competitive edge when they are real trading financial instruments with this platform.

Sign Up Now

Olymp Trade Review: Our Conclusion

Concluding our Olymp Trade Review, we can say that it is the best option for new traders who want to learn about prosperous trading. Olymp Trade is hailed as a top broker, offering a user-friendly platform known for its simplicity and ease of use. Geared towards both new and experienced traders, the platform provides essential tools and resources to maximize profit potential. It has garnered a trustworthy rating attesting to its legitimacy and high satisfaction within the cryptocurrency news community.

Additionally, the platform’s commitment to investor education through training materials makes it an ideal choice for those looking to embark on a successful trading journey.

FAQs

Is Olymp Trade Safe?

Yes, Olymp Trade is considered safe by many users. The platform implements safety measures such as account protection limits, KYC protocols, and is listed with Finacom, a regulatory body, providing assurance for users’ funds.

Is Olymp Trade a Good Broker?

Olymp Trade broker is a well-known and most popular online trading platform that allows people risk-free trade with a minimum investment of $10.

What Is the Minimum Deposit for Olymp Trade?

Olymp Trade minimum deposit is €/$10.

How Long Does It Take to Withdraw Money From Olymp Trade?

When the request is received, it is processed within 24 hours; in several cases, this broker credits the funds within a short time. At the same time, if there is any problem the process of withdrawing money can take up to more than 5 days.

How Long Does an Olymp Trade Deposit Take?

The deposited funds are credited to the investor accounts immediately or in a few cases it might take up to 2 to 5 working days which is based on the payment provider used by the trader.

Risk Warning – Investing in trading carries a high level of risk and the possibility of a loss of money. You should consider whether you can take the high risk of losing your money. Invest the money you can afford to lose.