What is Olymp Trade?
What is Olymp Trade?
- The trading platform's features and advantages
- Olymp Trade Forex
- Types of asset on Olymp Trade Forex and what they are suitable for
- Olymp Trade & MetaTrader 4
- Mobile apps
Olymp Trade is an international brand. For more than five years, it has been providing services in the field of online trading in financial markets to retail clients.
Olymp Trade's main product is its eponymous trading platform, which also has mobile versions for Android and iOS.
The main version of the platform is its website, where a user can make trades, examine the currency exchange rates and other assets, and also make use of information analysis services and tools.
The trading platform's features and advantages
Easy to get started
As distinct from professional trading platforms, Olymp Trade's interface is intuitively clear. The user is presented with just the chart for the asset, buttons for the direction of the trade and a pre-activated demo account with 10,000 units.
To make his or her first trade, a user doesn't even need to enter an amount or duration for a trade, since they are already set to the default figures (which can be manually altered, if the user wishes).
Two trading modes
Using the browser version of the Olymp Trade platform or the mobile app, a client can make Fixed Time Trades (FTT) and receive a fixed profit for correct forecasts, or switch to forex mode and earn money on differences in the price of assets without any restrictions.
The minimum deposit is $10
Traders can start trading with real money once they have topped up their accounts by $10. The minimum trade amount is just $1.
The product's geography
The platform's interface has been translated into 19 languages:
- English
- Russian
- Thai
- Indonesian
- Portuguese
- Spanish
- Turkish
- Vietnamese
- Chinese
- Arabic
- Hindi
- Malay
- Urdu
- Farsi
- Bengali
- Filipino
- French
- Japanese
- Korean
Our support service specialists can communicate in 15 languages.
Users from all around the world have unrestricted access to the trading platform, with the exception of the following countries: Gibraltar, the Isle of Man, Guernsey, Jersey, Australia, Canada, the USA, Japan, Austria, Belgium, Bulgaria, Croatia, Cyprus, Lichtenstein, the Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Iceland, Italy, Israel, Latvia, Lithuania, Luxembourg, Malta, the Netherlands, Norway, New Zealand, Poland, Portugal, Romania, Slovakia, Slovenia, Spain, Switzerland, Sweden, the UK, Russia, Turkey, and North Korea.
Free education
Users can undergo independent training in an online format and find out lots of interesting things about the various methods of predicting the price of an asset and how to manage one's own capital.
Available content:
- Recordings of webinars.
- Online broadcasts of webinars.
- Video instructions.
- Text instructions in the form of a chat bot.
Demo account
- A demo account is a real trading emulator. In demo mode, a user makes trades based on actual market prices, but uses a virtual currency. It can't be withdrawn or exchanged, but it is perfect for practicing. If the balance of a demo account goes below 5,000, it can be refreshed to the original 10,000 an unlimited number of times and for free.
The trader status system
A trader status system has been introduced on the platform.
After a trader's first deposit of up to $499, they acquire the status of Starter. They can use the platform's basic functions.
Making a deposit of between $500 and $1,999 grants a trader Advanced status, as well as additional benefits.
Making a deposit of over $2,000 activates Expert status. Expert users receive the maximum privileges and services.
A comparative table of benefits:
| Expert | Advanced | Starter |
|
|
|
The Advanced and Expert statuses are granted for 30 days. Once this period has expired, they can either be extended for the same period, or the statuses might be downgraded. Statuses are downgraded if a trader does not accumulate the required number of experience points within the 30 days, or has not topped the account up to the required amount.
A trader receives experience points for making trades with a live account. The larger the amount of the trade, the more experience points the trader receives. As a result of their experience points, traders might not just retain their status after the 30 days, but may also receive a promotion.
| Minimum deposit to retain a status | Required number of experience points to retain (or acquire) a status | |
| Expert | $2,000 | 5,000 |
| Advanced | $500 | 1,500 |
| Starter | The rule for downgrading a status does not extend to the initial Starter level | |
Methods for making a deposit/withdrawing funds
Olymp Trade works with many international and national payment systems. The main methods include:
- Visa / Mastercard bank cards
- Neteller
- Skrill
- WebMoney
- FasaPay
The list of available payment systems will vary from country to country. For example, in Latin America, the list will include AstroPay Card and the ability to top up an account using bitcoin, while in India, a trader can also use the GlobePay system.
Regulation and certification of quality
Since 2016 Olymp Trade has had the status of a category A member of the FinaCom International Financial Commission. This means that in the event of a disagreement with Olymp Trade, a client of the company can turn to FinaCom to resolve the dispute. If the client's complaint is upheld, the amount of compensation may be up to €20,000.
In addition, Olymp Trade is voluntarily undergoing certification for the quality of its broadcasted quotations via the independent service Verify My Trade.
Fixed Time Trades mode
FTT mode has become the simplest way to start earning money through financial markets.
A user of the platform gets access to charts showing the change in the courses of currency pairs, commodities, company stocks, equity indices, cryptocurrencies, and other assets — 81 in total.
Trading in FTT mode consists of the trader making a forecast regarding what direction the price of an asset will move in, up or down, in relation to the opening price (the strike price). The trader specifies the time of the forecast and the amount to be invested. Profit is calculated in proportion to the latter.
- If, by the time the specified period has ended (the expiration time), the price ends up even just one point inside the profit zone, the trader receives a fixed amount of profit, which was known before the trade was entered into.
- If, by the expiration time, the chart ends up in the loss-making zone, the trader loses all of his or her trade amount.
- If, when the trade ends, the quote for the asset is equal to the opening quote, the trade amount is refunded in its entirety.
The first advantage of FTT is that a trader can see the amount of potential income even before concluding the trade. If the trader sees "80%" next to the asset name, that means that a correct forecast will yield 80% profit.
The second advantage of FTT might be called the short-term nature of trades. The minimum time period for a trade is just one minute.
However, if a trader wants to check his or her forecast for a longer period, then the maximum time period for a trade on the platform is limited to 24 hours. The maximum rate of return on a strike price that is equal to the current market quote (this is set by default) is limited to 80-82% for account with Starter status. For Advanced and Expert accounts the rate of return may be higher.
Olymp Trade Forex
The forex mode for trading on the Olymp Trade platform is the classic platform for online trading. A client of the company can make a profit by closing trades based on the difference in prices of currency pairs, commodities, cryptocurrencies, stocks in well-known companies, and ETF assets.
With this instrument, a trader makes trades:
- To buy, if the price of the asset is predicted to grow.
- To sell, if the quotations are expected to fall.
If the price moves in the predicted direction, the trader starts to make a profit. The further the price moves into the profitable zone, the greater the income.
The amount of any potential profit also depends on the amount of investment and the trade multiplier. It is worth noting that the multiplier is the main benefit of trading in forex. Using the multiplier, the amount of an investment can be increased up to 500 times.
For example, if you invest $100 in an increase in the price of EUR/USD and select the x500 multiplier, the amount of your investment is no longer just $100, but $50,000. The potential profit also increases by 500 times.
Forex trades are not time-limited (with the exception of cryptocurrency assets) and can be active for as long as the investor deems necessary.
Types of asset on Olymp Trade Forex and what they are suitable for
On Olymp Trade Forex, you will find various assets for trading. Each of them has its own corresponding conditions. In addition, the amount of variety in the choice of instruments can broaden the target audience.
| Type of asset | Target audience | Maximum multiplier |
| Currency pairs | Traders, who are seeking to trade within one day. Their main goal is to earn a lot and to do so quickly. | x500 |
| Commodity | Ñ…50 | |
| ETF, stocks in companies | Long-term investors, or investors who wish to invest money in a trust product | Ñ…30 |
| Cryptocurrencies | Industry fans | Ñ…10 |
Olymp Trade & MetaTrader 4
- MetaTrader 4is one of the most popular trading terminals in the world. Major retail brokers started using it in 2005 and they continue to actively suggest it to their clients.
MetaTrader 4 support increases the level of trust in a broker, since MT4 might be called a professional trading tool.
The full version of MetaTrader 4 is available in the form of software for Windows. MT4 is also available as a browser-based version and mobile apps for iOS and Android. However, these versions have reduced functionality: there are fewer indicators for technical analysis and robots cannot be used, although there is the possibility to submit delayed orders and view charts.
The benefits of MetaTrader 4 from Olymp Trade:
- Sixty-seven instruments to work with: currency pairs, commodity assets, and indices.
- A library of instruments for analysis: indicators, Fibonacci levels, and the Elliott and Gann methods. The library can be expanded by downloading new indicators from the network.
- The ability to view a large number of charts simultaneously in one window.
- The use of advisors — automated trading systems (robots). Free solutions regarding this topic can easily be found on the web.
- Favorable trading conditions: a narrow spread, low commission, and the ability to choose a price plan (ECN or Standard).
- SWAP-free accounts for traders from Muslim countries.
- Free use of a demo account with $10,000.
- A credit shoulder from 1:1 up to 1:400. Users can change this figure in their personal accounts on the company website.
Mobile apps
Olymp Trade offers the possibility of earning money directly from your smartphone. iOS and Android versions can be downloaded for free from the AppStore and Google Play.
In addition, almost all the functionality of the full version of the platform has been transferred to the mobile apps. That means that traders can use indicators and strategies, make use of signals and submit pending orders directly from their phones.
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