Olymp Trade review | Is Olymp Trade a scam? Can You Earn Real Money From It?

My recent post on Binomo lead to me to write about an alternative to it and Toady I am gonna describe a similar platform. The platform is known as Olymp Trade, started its journey at the same time with Binomo that is 2014.

Both the platform are broker based and offers great assets and commodities from giant companies. Although the working is alike for both the platform, they are unique in their own offerings.

Both the platform support a minimum top up off $10, but there is a lot to discover. Since I have already posted about Binomo, this post is going to cover all the details and offerings from Olymp trade… let’s start

Disclaimer: I have not received any payment for promotion of Olymp Trade, I have just tried my best to make audience understand about this particular platform. Also, investing in assets is not my advice, it depends on your own decision.

Olymp Trade Overview

Parent companySaledo Global LLC
Founded2014
Payout methodsBank transfer, Credit card, E-Wallets, Crypto
Minimum deposit$10
Minimum Withdrawal$10
Withdrawal fees$0
Deposite fees$0
Payout processing timeWithin 24 hours
Support[email protected]
Websitehttps://olymptrade.com
Earning Application rating 3.5/5
Apple App Store 4.2/5
Google Play Store rating 3.9/5

What is Olymp Trade?

Olymp trade is a platform to trade 80+ assets and commodities digitally. It offers a wide variety of assets including currency pairs, cyptocurrencies, and stocks from well-developed companies like Microsoft, Apple and IBM. The platform has an interactive easy to use interface which offers a comfortable use for both newbies and veteran traders. Anyone can trade with a minimum of $10 using this platform. 

 As per my review, I have experienced what they are offering and I can make sure, the interface is user friendly and simple to use. It makes sense why Olymp trade is famous among new traders. 

Olymp trade Safety Overview

  • Personal data collected for signup: Email and password
  • SSL certificate: Yes
  • Data sharing with third-party: Yes
  • Privacy policyRead
  • Terms And ConditionsRead
  • Data encryption: Yes

Olymp trade requirements for joining

  • Age requirement: Must be 18 years or older.
  • Available countries: Hong Kong, India, Saudi Arabia, Thailand, South Africa, Luxembourg, Singapore, Qatar and many more
  • Banned countries: Japan, Cyprus, Denmark, Germany, Italy, Finland, Switzerland, UK, Portugal, Norway, European Economic Area, USA and Iran
  • Skill requirements: Trading skill required

Is Olymp trade a Scam?

Well No, Olymp trade is just a platform where you hone your skills and multiply your money. As per my research, Olymp trade is 100% legit and is associated with FINACOM, which confirms its real existence. FINACOM is an International financial commission which regulates from Hong Kong. They are a regulatory team which offers legal assistance to resolve any trading issue. They are also the one to sustain all the users’ data securely.  

How to Start Trading on Olymp Trade 

Step 1. Signup

The first and foremost thing to do is to visit the official website or in my opinion it will be easy if you register through application. You need some basic details like name, mail, password, payment method, preferred currency etc. Make sure to use a strong password as this is a trading platform.

Step 2. Taking demo

Unlike some platform, Olymp trade offers and intuitive demo learning, this is not a compulsory step to follow, but I will advise to new users who are totally new in trading environment not to skip this step.  

Demo account has a more to offer. Let me explain- a demo account on Olymp trade will offer you an imitating platform with the real one with $10000 virtual funds. It will also teach you about the tools you gonna use while making a trade. The virtual fund you get will be used to buy the virtual assets and sell them to learn the profit making thing. 

Step 3. Adding fund to your wallet

As you guys are already aware of, all the trading platform offers a wallet where you get your funds added. Similarly you are going to add funds to your account to trade assets. Olymp trade offers a variety of ways for payment adding. Choose your preferred one and you can start your trading journey. As mentioned above, you just need a minimum of $10 for trading and above that, it’s your wish and will.

Account Types in Olymp Trade

If you are not aware of, then let me tell you- Olymp trade offers two types of account to its users a regular one and a VIP one. Let me be frank- if you have $20000 dollars to trade in you are going to get some extra benefits with VIP account. These benefits are exclusive to VIP account holders only. 

The regular account is available for all other users with maximum number of tools and offers just excluding some exclusive ones.

Tools offered by Olymp trade

I am going to list some of the basic tools necessary to make trade. Overall these tools are the common one, if you have skills and knowledge you are going to use some more of them.

  • 24×7 trading charts
  • Forex market hours
  • Profit calculator
  • Trade logs
  • Market History and Overview
  • Trading Checklist
  • Economic calendar

How much one can make on Olymp trade?

The Platform directly depends on Forex market. Having basic knowledge will not be enough to predict the actual graph of the assets. Since this is a trading platform, you can’t always depend on your luck but the actual steps of the giant companies. 

My advice would be using all the resources provided by Olymp trade, as they are gonna improve your skills and also you can learn about the history of the Assets with their origin and growth. If you compile as these into one.. I can guarantee, you can always make a positive step forward.  

Affiliate Program from Olymp trade.

They have an intuitive affiliate program to make some bonus earnings. Just a referral program offering 50-60% earnings for a successful joining. 

Resources offered by Olymp trade

The platform offers variety of resources for its users. They are already providing with demo account and educational resources to traders which includes webinars, analytical support and live tracking of assets. They have blogs on several hot topics including forex market and basic trends and strategies for trading. 

Olymp trade Pros and Cons

Pros.

  • User friendly interface
  • Mobile friendly
  • Wide range of assets to choose
  • 24X7 customer service 
  • Offers a demo account to learn trading

Cons.

  • Not available for US and EU users
  • KYC Verification is must for withdrawing money
  • For 180 days of inactivity, there is a $10 fee. 

Also read: Life Activated Brands Review: Is it Legit? Can you really make money from it?

Reviews of some Olymp Trade users

Positive reviews of some Olymp Trade users

Aniket Kadam 5/5

I’ve been trading with Olymp Trade for the last 2 years, and everything is amazing! I’ve tried several trading apps before, but this one is the best in terms of customer service and user interface

Ram parad 4/5

It’s a great app for trading, and the customer assistance is excellent as well.

Nikiya Rao 5/5

When I contacted customer support regarding some issues with withdrawing money, they explained everything to me in detail and resolved it within seconds. great customer support.

Negative reviews of some Olymp Trade users

Tanaya Kumar 1/5

Olymp Trade is a scam. Never deposit large amounts of money. If you deposit large amounts of money, they will block your account and you will not be able to get your money back.

Palak Lanca 1/5

Olymp Trade blocked my account without any warning, so I am not able to withdraw my money. When I contacted customer support, they told me I had violated their rules. But I didn’t do anything that would violate the rules.

Kavya madhavan 1/5

I am unable to trade with a balance of ₹130 in my account. It displays the message “limit exceeded.” When I contacted customer support, they asked me to add more money to remove the limit. Don’t fall into the trap, guys.

Conclusion

Olymp trade is a great trading application with lots of trusted users and audience. Great number of users proves the worth of it. The platform is offering 80+ assets to choose from which makes it easier. The demo account is one thing I found useful, since a newbie can easily learn the trading system before trading in real time. One more thing to note is the amount used of trading- anyone can trade for as minimum as for $10. 

 Final verdict is positive in my opinion, as there are lot of good points to note, this can be considered as a great option to multiply your earnings without making much of an investment.

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