History and Foundation
Olymp Trade was set up in the year 2014. According to the review, it was founded as an online trading platform for integrating maximum simplicity when global markets could be approached. This forex company positions itself in forex, shares, stocks, indices, and cryptocurrencies with some uniqueness regarding the user-friendly and straightforward approach.
Mission and Vision
Olymp Trade offers a platform that can be understood and used by traders of various languages and learning experiences with their multiple satisfactory choices, according to what they need. The mission of the company is to make such an easy-to-understand trading platform that suits all complexity classes. This is rather innovative technology on one hand, and a very simple approach for professional users. With this, Olymp Trade adheres to a very solid client base which needs information regarding the platform. Vision-wise, it envisions establishing a system to be popularized in the entire world market related to professional transparency and innovation among other features.
Global Presence
Famous as it is, the company serves people from over 130 countries in varied languages. Some common areas where the site is most accessed include Asian, Latin American, and African regions.
Advantages and Disadvantages
Advantages:
- Flexible accounts with a low entry threshold.
- A wide range of deposit and withdrawal methods without fees.
- A versatile and multifunctional trading platform available on various devices.
- Extensive educational materials.
- 24/7 customer support.
Disadvantages:
- Lack of licenses from leading regulators.
- High commissions and spreads in Forex mode.
- A limited number of stocks and the absence of soft commodities and bonds.
- Broker analytics is limited to trading signals and materials in Telegram without in-depth analysis or additional tools.
Security and Regulations
Types of Licenses
Olymp Trade is a member of the International Financial Commission, which sets up dispute resolution practices and prides itself on keeping traders safe. It is not an agent of any major regulators like FCA or ASIC, nonetheless.
Segregated Fund and Insurance
Safety of clients' funds at Olymp Trade: Customer funds are held in an account separate from the company's funds. The company's partnership with the IFC allows for a maximum compensation of five figures in euros should any disagreement arise.
Tradable Instruments
Forex
The EUR/USD, USD/JPY, and GBP/USD are among popular currency pairs traded on Olymp Trade. It basically has fixed spreads, and cost-effectiveness is assured.
Commodities
This involves trading commodities such as gold, silver, and crude oil—just the ideal option diversification would possibly need.
Indices
Big pairs trading between most of the countries of the world franchises such as NASDAQ, S&P 500, and FTSE 100 are available through CFDs as well as fixed-time trades.
Cryptocurrencies
Homes above trade over Bitcoin, Ethereum, and Litecoin in the embedded system.
Shares
Names of very large trading companies like Apple, Tesla, and Amazon are included within their respective CFDs.
Account Types
Standard
| Minimum deposit | 0 |
|---|---|
| Commission | 0.0 |
| Available tools | 0 |
| Leverage, min | 1:1 |
| Leverage, max | 1:500 |
Fees and Charges
Spreads and Commissions
Forex trades at Olymp Trade are subject to fixed spreads and there are no commission charges on Standard Account transactions. VIP Account owners are offered even tighter spreads.
Swap Rates
Interest charges on both long and short positions overnight will be revealed at Olymp Trade.
Non-Activity Charge
There are no inactivity fees.
Trading Platforms
| Available tools | Forex, ETFs, Stocks, Indices, Metals, Energy, Cryptocurrency, CFDs |
|---|---|
| Cryptocurrencies | AVAX, BNB, BTC, BCH, ADA, LINK, DASH, DOGE, EOS, ETH, HMSTR, KSM, LTC, TRUMP, DOT, MATIC, SOL, XLM, TEZ, UNI, XRP |
| CFD | Forex: 33 Stocks: 39 Metals: 4 Indices: 33 Energy: 2 Cryptocurrency: 23 ETFs: 6 |
Proprietary Trading Platform
Olymp Trade owns its trading platform interface; they own their product in the market.
Mobile Trading Applications
Here is the view of the mobile app from Olymp Trade: space-saving, full account management, full market updates in real-time, and also trade for volatility.
Browser-Based Trading
Olymp Trade prides itself on one of the best-featured markets with this adaptation with cyberspace; one can trade directly at http://balasamtissystems.com/ without any software help downloading.
Customer Support
Deposit and Withdrawal
Methods of Payment
Olymp Trade allows for various ways of receiving payments, such as bank transfers, credit/debit cards, e-wallets like Skrill and Neteller, and finally e-currencies like Bitcoin.
Duration for Transaction
An instantaneously completed transaction-based deposit earmarks the following waiting times for withdrawal to one to three business days regarding the way of payment.
Associated Costs
Likewise, taking transactions and inputs into account—an example where most of these are cost-free—some providers bring in a small sum charge.
FAQ
Is the Broker Regulated?
Olymp Trade is a member of the International Financial Commission (IFC) but is not yet a toughened regulator like FCA or ASIC.
What Trading Platforms Are Available?
They have developed their own platform which primarily has a web version in addition to the possible versions on desktop and mobile applications, the next good improvement along with the figure.
What is the Smallest Amount That Can Open an Account?
The minimum amount required is $10, making it quite available to just about everybody, whether or not they are a new or old trader.
What Types of Accounts Does the Broker Offer?
Standard, VIP, and a sandbox account.
Detailed Charges and Brokerage Rates
These fees are the most important component as they determine whether a broker is worth his/her salt or not. Preferences for a broker with a proper system of fixed apportionment among payments.
What is the Highest Leverage?
The high range goes up to 1:500, which is amazing.
Does the Brokerage Firm Offer Demo Accounts?
Yes. Olymp Trade offers demo accounts containing virtual assets up to $10,000.
In What Various Ways Can I Contact Customer Support?
Customer service is available during trading hours to be contacted through Internet live chat, email text chat, and by telephone in many languages, including English.