Olymp Trade is a reliable broker that has grown exponentially mainly because of its simple, yet powerful, approach to trading binary options. We carried out an independent review of Olymp Trade to assess its services and features, especially whether it’s worthwhile for trading. Here are the key things we found out.
Olymp Trade’s website is owned and managed by a company called Smartex International Limited. The company is registered in Seychelles under registration number 144540. The broker’s payment transactions are handled separately by a company called Frandom Holdings Ltd, which is registered in Cyprus under Registration number HE331286.
Olymp Trade is regulated and certified by the Financial Commission (FinaCom PLC), which affirms to its commitment to delivering high-quality services and meeting traders’ needs. With this certification, the broker guarantees safety of deposits and prompt resolution of issues. For example, in case Olymp Trade takes part in a fraudulent activity, a trader is guaranteed up to $20,000 in deposit compensation.
Because of its reliability, the broker has earned various industry awards and recognitions, such as, the Le Fonti 2016 Awards in the “Binary Options Platform of the Year” category. Therefore, because of the above reasons, we can confirm that Olymp Trade is not a scam broker.
OlympTrade Trading Platform
OlympTrade offers a web-based trading platform that is simple and interactive to use. It is equipped with extensive tools and resources to assist traders succeed in binary options trading. For example, you’ll access accurate analytics on the recent market events to help you make profitable trade decisions.
If you want to learn the intricacies of the market without risking hard-earned money, you can train on the free demo trading platform. With the demo platform, you can sharpen your trading skills before venturing into the real world of binary options.
Furthermore, Olymp Trade provides a mobile trading platform, which you can download from either the Google Play Store or the Apple App Store, and enjoy limitless trading from your smartphone—anywhere, anytime.
The platform has two main types of binary options:
- Classic options: Are called UP-DOWN trades, and gives traders an easy way to make profits.
- Time options: They give traders a time-based and convenient way to participate on an active market.
Assets and Payouts
In our Olymp Trade review, we noticed the broker offers a wide range of financial assets to cater for the varied interests of traders using its platform. It has about 70 assets for trading, which have been grouped into four main categories:
In terms of payouts, Olymp Trade offers up to 90% maximum profitability on successful trades. Finding brokers with such high payouts in the industry is rare.
Deposits and Withdrawals
Opening a trading account with Olymp Trade is simple and quick—it takes no more than 3 minutes. On the broker’s homepage, click the ‘Start Trading’ button, and you’ll be redirected to a simple registration form to provide your personal details. After completing the form and submitting the necessary identity documents, your trading account will be setup.
For making deposits, Olymp Trade has various trusted payment methods, including VISA card, MasterCard, Skrill, Neteller, WebMoney, Yandex, and Qiwi Wallet.
The minimum deposit required is 10 currency units (either USD or EURO). You will also get various lucrative bonuses, including welcome bonuses, on-pay bonuses, or promo code bonuses.
If you want to make a withdrawal, the broker will start processing within 30 seconds of receiving your request. We found this to be much faster and simpler than those of other brokers.
Olymp Trade Customer Service
Olymp Trade has a team of more than 20 specialists, who are sufficiently trained to offer quality support in different languages, including English, Thai, Indonesian, and Russian. The broker’s support department is always available 24/7 by phone, online chat, phone, and social networks.
In addition, since the broker aims to ensure traders enjoy successful and stable trading in the binary options market, it provides a rich set of learning materials, including webinars, interactive courses, and trading strategies.
So, whether you are a novice or an experienced trader, you’ll find sufficient resources to deepen your knowledge and become effective and profitable trader.
- Trustworthy broker
- Focuses on simple and fast trading
- Demo account available
- Convenient payment methods
- Secure trading conditions
- Low minimum deposit requirement
- High payouts
- Wide range of trading assets
- Mobile trading available
- Comprehensive learning materials
- Multi-lingual 24/7 customer support
- Analytics available
- Fast withdrawal process
- Bonuses and trading contests available
- U.S. traders not allowed
- Limited types of binary options
- Regulation from a reputable licencing authority like CySec missing
Our review of Olymp Trade has revealed the broker’s presence in the industry is useful. The broker’s award-winning trading platform, emphasis on quality service provision, and provision of reliable trading conditions are contributing to the development of the binary options industry. If you want to take your trading a notch higher with a simple, efficient, and trustworthy broker, then Olymp Trade should be your most preferred choice.