Olymp Trade review (2022) Review
Olymp Trade is a fully regulated and legal company by the International Finance Commission since 2016. The brand has picked up several awards, they have great customer service and plenty of options to learn how the markets work. They offer a free demo account and their deposit is only $10.The Olymp Trade is a customized platform that was designed by experienced programmers, traders and financial analysts. The broker offers options trading and forex trading.
- Regulation – IFC
- deposit – $10
- Leverage – up to 1:400
- Spread – variable
What can be traded, instruments
Their instrument availability will vary depending on where the trader resides:
You can choose from 2 accounts:
- Standard account – investors can trade at a minimum of $1, and a maximum trade worth $2,000
- VIP account – the minimum deposit required here is $2,000, and when it comes to trading, the minimum is set at $ 1 and the maximum is set at $5,000.
Olymp Trade is a reliable broker, a member of the Financial Commission of A category which implies more advantages and safety for the customers.
Olymp Trade demo account
Olymp Trade allows you to use the platform in the free demo account which comes pre-loaded with a balance of $10,000 virtual funds. It allows you to gain an understanding of how trading works, while also allowing experienced traders to review Olymp Trade and get a feel for how the interface functions. All the options in a paid standard account are available in demo mode. To activate a demo account, users simply need to register on the website.
Broker fees and other charges
There are no fees for:
- options trading
- account maintenance.
They do charge an inactivity fee and Forex trading commission. Olymp Trade charges a fixed rate overnight fee on overnight trades, which is limited to 15% of the total investment amount. None of this was found on their website.
Opening an account with Olymp Trade
To log in or register is in the top pane, simple to find. I couldn`t register for an account as new account registration is not available for clients from my region.
I decided to contact the support team via live chat. After typing my question, I was immediately transferred to someone else.
Olymp trade trading platforms
Olymp Trade offers their own platform, it is multifunctional and offers a huge range of different markets and assets. The software can be used on any device, your computer, smartphone, or tablet. From the experience of others, the platform is easy to use and understand. In a few minutes, you will know how to trade because all functions are clearly shown in the software.
The brokers website
The first impression was how simple and calm this website is. Nothing flashing, nothing jumping around. Information is short and straight to the point. They chose simple colors. I found it difficult to find information like the fees or what kind of accounts they offer. The support and education section are filled with information and videos. They offer an education center with webinars, strategies, tutorials, and videos.
Olymp Trade social network
This broker is active on YouTube and Facebook. They post facts, news and analytics often. I like the interaction of people with Olymp Trade. As soon as you go to their YouTube account, their first video plays. This video is for beginners, for those, who have just opened an account.
Advantages and disadvantages
Olymp Trade offers good trading conditions for trading options and forex on one good platform. My region is not supported so I had no chance of testing my demo account. One advantage of the broker is that you can start trading with a small deposit of 10$ and you get good education support. On the other hand, I was missing information on their website and had to look for them elsewhere.
- Not supported region
- Missing fee and account details on their website
- Regulation insufficient
- Live chat
- Good education support
- Active on social networks
Pros / Cons