How To Get Risk-Free Trades in Olymp Trade?

What are Risk-Free Trades?

As a trader, placing a risk-free binary options trade means that you need not worry about losing your funds. Even if your trade is a bust, you get the invested funds credited to the Olymp Trade account. This feature or tool doesn’t allow you to make a loss, however hard you try.

One-line explanation of risk-free eligibility

Imagine placing a $50 risk-free Binary Options trade, where you expect the asset price to increase. Instead, it moves lower in the given timeframe, resulting in a loss. Yet, as it is a risk-free trade, the $50 set aside stays with you despite the wrong prediction.

How do risk-free trades work?

If you predict correctly, you will receive $50 back as a refund, along with the set payout as a reward. If the payout is 90%, you will win $45 in addition to the $50.

Benefits of Risk-Free Trades

Yes, you can get risk-free trades in Olymp Trade. But there are a few conditions, which I will discuss later. For now, let us focus on the perks of risk-free trades, apart from the immunity against financial losses:

• More confident trades
• Higher profit potential
• The ability to test out new strategies

An independent analysis conducted by Trading.biz found that traders using risk-free trades are 25% more likely to keep using the Olymp Trade platform. The survey also found a 15% increase in average trader profitability with risk-free trades.

Create an account on Olymp Trade and explore risk-free trades

Risk-Free Trade Eligibility

You must follow a few eligibility requirements to get free trades in Olymp Trade. These include the following:

The Right Account Type

Risk-free trades are inherently available to VIP account holders — Advanced and Expert statuses. These accounts are something other than the Starter or Standard accounts.

If you wish to make an initial deposit higher or equal to $2000, you can qualify as a VIP trader. And while that qualifies you for higher payouts and personalized attention, you can even get 5% of the deposit value for indulging in risk-free trades.

Different account types have different resources

For a $2000 initial deposit, you get $100 worth of risk-free trades. You can break down the amount into smaller sums to make it easier to use.

Standard account holders can also get risk-free trades. However, they must participate in referral programs and trading contests. On Olymp Trade, you can start with an initial deposit of $650 to get hold of the Advanced account, which is a type of VIP credential.

Create a VIP/Expert account and explore the perks.

Activity Level

Not every VIP trader enjoys the benefits of risk-free trades. Once the initial deposit eligibility is over, VIPs must maintain decent trading activity or volume levels to keep getting the perks. High-volume trades attract special offers and bonuses, including risk-free trades.

Top deposits are equivalent to a better account status.

Olymp Trade runs regular promotions, which regular users know about. These promotions often have attached incentives, like risk-free trades. One such periodic promotional event is the New Year’s promotion, which offers risk-free trades when you achieve specific milestones. Subscribing to the Olymp Trade newsletter can help track these promotions.

Contests and Tournaments

Risk-free trades are also available as top-ups. As a trader, you can compete for these top-ups or rewards, a move meant to improve skills and encourage trading. To know more, follow the monthly tournament itinerary.

Always advisable to keep track of contests and events.

Sign up and check the contest leaderboard right away

Loyalty Rewards

Olymp Trade offers incentives based on activity levels and rewards the best traders with loyalty rewards, usually in the form of risk-free trades. As a VIP trader, you can receive a monthly risk-free trading allowance of $200 instead of direct bonuses. This is included in the benefits package.

Referral Programs

You can earn referral rewards if you bring others to the Olymp Trade platform. The standard allotment is $50 in risk-free trades for every successful referral with a deposit.

Every trade has a risk-free threshold. For instance, if the risk-free threshold for the EUR/USD pair is $10, you can only open a trade equal to or less than $10.

Limits on Risk-Free trades

How To Maximize the Benefits of Risk-Free Trades

There are a few hacks to make the most of risk-free trades, as you only get limited chances:

Analyzing market conditions: Regardless of the trades you participate in, it is always a good practice to study trends and market news and use technical analysis tools to time the market and make better bets.

Risk-free trades and the role of indicators

Having clear goals: As the risk-free trading amount is limited, you are better off using the same for the trickiest yet riskiest trades.

Staying away from emotional trading: Since there is no risk of losing, you, as a trader, can make rational decisions without the fear affecting them.

Example of a Risk-Free Strategy

You notice a potential bullish trend in the EUR/USD currency pair but need clarification on the trend’s strength. You can enter a position to confirm the trend using a risk-free trade. If the market moves as predicted, you profit without any risk. If not, your initial investment is safe, and you gain valuable insight into the market behavior without financial loss​.

Try out a risk-free trade today by creating an account first

Common Risk-Free Trading Mistakes

Even with risk-free trading, you need to avoid the following risks, which might impede trading success:

• Overtrading
• Ignoring proper technical analysis
• Not learning from mistakes
• Not testing strategies beforehand

Testing strategies on a demo account

Comparing the Risk-Free Trading Feature of Olymp Trade with Other Brokers

It is a good thing that other Binary Options brokers like Pocket Option and Quotex also offer risk-free trades. Here is a table that compares everything relevant:

Final Thoughts

Risk-free traders are highly useful tools. Yet, as the amount is mostly limited, you should never try and abuse them by mindlessly opening and closing positions. Before you start trading with real money, it’s beneficial to improve your trading skills by using a demo account. It doesn’t matter how much experience you have.