Olymp Trade Analysis
Olymp Trade is a Broker that began operating in 2014. It is one of the new brokerages in the wave that followed the example of success set by IQ Option. It has its own simple and intuitive platform. Deposits start at 10 USD/EUR and trades at 1 USD/EUR. Only classic (Call/Put) trades are available. Those who are familiar with IQ Option may be thinking this is a copy of it. It does have several similarities, but it has one big difference that I will discuss further on.
Although Olymp Trade is a recent brokerage, it has already won an award in 2016: “Best binary options platform” from IAIR AWARDS.
The Olymp Trade is owned by Smartex International Ltd and the payments are run by Frandom Holding Ltd.
Olymp Trade Platform
The Olymp Trade platform is very simple and intuitive. It was designed for those who are learning to trade, or for those who prefer a light, simple and clear platform, where you have everything within easy reach.
The platform was developed by the company itself. I would say that of the existing platforms on the market the one that most resembles Olymp Trade is IQ Option. This is another similarity that is a compliment, because the IQ Option platform is one of the best on the market.
Watch the Olymp Trade video
Trading is done on the web platform. There is also a platform for mobile devices, smartphones and tablets using Android and iOS Apps.
Olymp Trade provides just one type of trade: Up and Down (Call/Put) which is the most classic and most used in binary options. The reason is simple: to make the platform and binary options trading simple and lightweight for users. I personally consider it to be a brokerage essentially designed for new traders since it only has the main trades and the most traded assets.
Just like the IQ Option platform, it is complete in terms of indicators and setups that we can configure on the platform, and so one of the best on the market.
The big difference, which I consider an advantage, when comparing the Olymp Trade platform with the IQ Option platform is that at Olymp Trade the turbo trades have a duration of 1 minute instead of a 1 minute candle. That is, when we open a 1 minute trade, it lasts exactly 60 seconds, while on the IQ Option platform it ends at the end of the 1 minute candle. In reality, when you enter trade while the candle is running, one can never have 1 minute exactly, while at Olymp Trade one can have 1 minute exactly. When you are using the 1 minute strategies every second counts.
However, this brokerage also offers the same expiration system that IQ Option offers, at the end of the candle. So, if you prefer to finish the trade at the end of the candle and not in 1 minute, or 2 or 10, you can choose the Time system instead of the Classic.
Another advantage that Olymp Trade offers is the availability of trading during the weekend. They offer few assets, but you can trade 7 days a week.
Olymp Trade offers expiration times ranging from 1 minute to 23 hours. It does not have longer times such as end of day, of the week or the month. This, once again is due to the need to simplify and lighten the platform. On the other hand, it offers an option called “YOUR TIME” where the trader can select the expiration time, for example, 2 minutes, or 3, or 4, or the time that one prefers. Very few brokerages offer the trader the option to select the expiration time that they prefer.
In terms of simplicity, design, and operation this is a good platform.
Android or iOS users can download the free app Olymp Trade by clicking the image below and then trade directly on your phone or tablet.
Olymp Trade learning tools
Olymp Trade has several learning tools, such as multiple videos and e-books. To access the learning tools, you just have to open a Demo account at the brokerage.
This brokerage offers a free Demo account of $10,000 to practice without having to make an initial deposit. The demo account can be used without limitations and if you lose you can reload as many times as you want. This is relatively rare among regulated brokerages, and even rarer because there is no need to make a deposit to have the demo account.
Accounts and bonuses at Olymp Trade
The minimum amount to open real account is 10 USD. You can choose to have your account in Brazilian Real (R$), USD or EUR. The minimum trade is 1 USD/EUR.
You can also have a demo account of $10,000 to practice.
Olymp Trade offers up to a 100% bonus on the first deposit and up to 50% on the following deposits. Today many brokerage firms no longer offer bonuses because some regulators consider that bonus offers are a way for the trader to deposit more than they should or have at the moment. As long as the trader uses the bonuses consciously, the bonus can be a help when we start trading. The bonuses cannot be withdrawn, the bonus gives the trader more leeway when trading.
Olymp Trade also offers a VIP account. To qualify for a VIP account you have to make a single deposit of 2,000 USD or EUR. Being a VIP has some advantages such as higher profits in each asset, faster withdrawals, a personal analyst, etc.
Deposits and Withdrawals at Olymp Trade
There are several possible deposit methods at Olymp Trade ranging from the most common such as wire transfers, Visa and MasterCard, as well as electronic payments such as Skril, Neteller, and other electronic wallet services. The money is in the account in minutes.
Withdrawals must be made by the same method as the deposit was made. Both the deposits and the withdrawals are fast. Depending on the type of account and withdrawal method, it usually takes 5 business days to complete a withdrawal. The account must be verified with the required documents for the withdrawal to be processed.
The minimum withdrawal amount is 10 USD/EUR and no fees are charged on withdrawals, even if you request more than one withdrawal per month. This is unusual since most brokerages either charge fees or limit withdrawals to one per month without fees.
Olymp Trade OFFER: Opening an account and making a deposit at Olymp Trade using the banner below grants you the right to a unique promotion from the blog. Receive a strategy to be configured directly in the brokerage’s platform. After registering on Olymp Trade, send me an email requesting more information and the confirmation of your registration by sending me your Olymp Trade ID. strong>DON’T MAKE A DEPOSIT before your confirm with me.
Advantages and Disadvantages of Olymp Trade
Olymp Trade is a brokerage like IQ Option, and therefore it is different from the more common brokerages.
– Minimum deposit of 10 USD/EUR.
– Minimum trade of 1 USD/EUR.. This is an important feature for anyone just starting to trade binary options.
– Tournaments with cash prizes. Some are free, others are paid, but all of them have prizes.
– The $10,000 demo account is completely free.
– Platform with the ability to choose the trader’s own expiration time instead of the expiration times that normally exist.
– Withdrawals without fees.
– In addition, I offer several promotions and tools to help you succeed with this brokerage. See the Promotions page.
– Customer service is available in several languages.
– Little variety in assets.
– Limited binary options contracts to trade.
– Only the classic (Call/Put) trades are available.
– At different times there can be payouts of 80% and other times of 40% on the same asset.
– The regulations are not as strong as others who use CySEC, for example.
Conclusion Olymp Trade
Olymp Trade is a good choice for anyone who wants to begin trading. It has a good platform, low deposits and trades from 1 USD/EUR, and no fees on withdrawals.
Established - 2015
Headquarters - Seychelles
|Regulating Entity||FinaCom - Licence|
|Customer Service Channels||Live Chat, Telephone and Email|
|Platform||Olymp Trade - Proprietary platform|
|Trading Channels||Web, Mobile (APP available for Android and IOS - Smartphone and Tablet)|
|Deposits||Visa, MasterCard, Skrill, Bank Transfer, E-Wallets|
|Withdrawals||Visa, MasterCard, Skrill, Bank Transfer, E-Wallets|
|Asset Totals||Forex - 35 | Stocks - 13 | Indexes - 11 | Commodities - 6 | Total 65|
|Option Types||High/Low Turbo (60, 120 and 180 seconds) and Binary and YOUR TIME|