What Is Olymp Trade, and How Does It Work?

What Is Olymp Trade?

It’s time to be direct here! Olymp Trade markets itself as a trading platform. It began in 2014 and is now ten years into the business. It offers commodities, stocks, forex, and cryptocurrencies. But that’s not what makes Olymp Trade the talk of the town.

Why should you choose this broker? Olymp Trade

What impressed me most about Olymp Trade is its easy use, even for beginners. Depending on your preference, you can use the desktop or mobile trading interface. While brokers like IQ Option keep slugging the proprietary theme, Olymp Trade takes things a notch higher with the MetaTrader 4 access, also available on desktop and mobile devices.

Interested already! Sign up on Olymp Trade and test out the features hands-on!

What’s the USP?

MetaTrader 4 is all cool, but a few highlights separate it from the rest. I will discuss them in detail, but for now, let’s get a peek

• A regulated broker
• Segregated account worth 20,000 Euros per user
• Loaded demo account
• Loaded with educational tools
• 80+ trading instruments
• Multiple account types

All Olymp Trade Traits As of 2024

Create an account on Olymp Trade and add your earnings to the list! 

Guess what? I will explore each element separately across different pieces, but let us examine the features first.

What Does Olymp Trade Have To Offer?

Features are the backbone of the Olymp Trade. Here are the things I checked and liked:

1. Tons of Educational Resources

If you are new to trading, start exploring Olymp Trade. The website has many educational tools, such as a page for documenting trading strategies and another for trading signals, covering swing trades, scalping, and intraday trades.

2. Demo Account

Well, a demo account isn’t a breakthrough feature! But what if there was one offering $10,000 worth of virtual funds? What works is that the demo account replicates the elements of the live trading account. The Olymp Trade demo account is refillable once you use the virtual cash.

3. Multiple Account Types

If you work with a live trading account, Olymp Trade lets you choose from three account types — starter, advanced, and expert. As the name suggests, each account type caters to traders with evolving expertise.

Account Types

In addition to the features mentioned, I will explain more while discussing how this Binary Options broker works.

Try out the Olymp Trade interface and all the features it promises!

What Is the Olymp Trade Web Interface, and How Does It Work?

Olymp Trade is available as a mobile app, regardless of the platform you plan to use. However, its web interface offers the sweetest possible deal, courtesy of the expansive real estate.

It requires no installation, and you can simply register using your email ID to get started. Here is a quick rundown of the registration process and the subsequent steps: Use your email credentials to get started.

1. Verify your account to see if you are planning to start trading immediately.
2. It is worth mentioning that verification on Olymp Trade is needed when you want to withdraw funds. Being from India, I had the advantage of accessing UPI-based deposit flexibility, a feature lacking in most other binary options brokers. You can use an India-only account once you deposit a minimum of $10 or 1500 INR.

Easy Deposit Options 

Sign up today and test out the live trading chops!

Getting Started With Web-Based Trading

The “Trades” section uses the web interface to check the available assets to trade. Notably, all fixed-time trades or FTTs are binary options. You just have to choose how long you want to exchange and bet on whether the asset’s price will increase or decrease. If you win, you can receive as much as 90% of your funds as the payout and the invested sum.

Yes, this is precisely how Binary Options work.FTTs include commodities, stocks, and cryptocurrencies. However, you can place leveraged Binary Options trades for forex pairs using risk management strategies like stopping loss and taking profit levels.

Web-based Trading Interface

Finally, you can place spot market orders for stocks. However, fractional buying isn’t supported yet.

What Is Olymp Trade’s Regulatory Stance?

Good brokers often have stringent regulatory standards. It is the FinaCom-specific regulatory oversight for Olymp Trade, where FinaCom stands for the International Financial Commission. Regulatory oversight means that if you have a complaint that Olymp Trade cannot resolve, you can escalate it to FinaCom.

The regulatory posture came into effect in 2016. Olymp Trade also follows the regulatory guidelines laid down by the Vanuatu Financial Services Commission (VFSC), which also adds to the overall safety of the trading environment.

Regulatory Oversight Exists for all Account Types

Olymp Trade was named the Best Trading Platform at the 2018 “Forex Awards” despite operating in a regulated environment.

How Does Olymp Trade Compare Against Other Similar Brokers?

I did say that several Binary Options brokers exist. However, Olymp Trade is one of the more trusted names in the space, thanks to generous payouts, a low minimum deposit threshold, and other features.

Feature Sets that Separate it from Others

I will compare Olymp Trade with other Binary Options and related brokers to see if the promised features are perfect.

The high payout percentage, arguably the second best in the industry, combined with quick trade support and a personal manager, make Olymp Trade one of the more desirable Binary Options brokers around.

Convinced already! Test out the platform by first creating an account!

User Reviews and Testimonials

You shouldn’t simply take my word about how good Olymp Trade is. Instead, here are a few user testimonials to help you make better sense of this broker:

User Testimonial 1

“As an experienced trader, I’ve spent considerable time on Olymp Trade, and here’s my honest review:Advantages:

User-friendly Interface: Olymp Trade offers a sleek and intuitive platform that is easy for beginners and experienced traders to navigate.Variety of Assets: With options for trading binary options and forex, Olymp Trade provides a diverse range of assets, allowing traders to explore different markets.”

Shem Juma, Trader: Quora“Olymp Trade has many assets that are so alien to me. However, the system is very interesting because we only make purchases when they go up or down.”Samuel Manaf, Trader: Quora

User Testimonial 2

It is worth noting that while people applauded the approach to Binary Options, the platform generally received mixed reviews.

Final Thoughts: Is Olymp Trade Better Than Others?

Olymp Trade is a reliable Binary Options broker with a low deposit requirement, a large demo account that can be refilled, and a trustworthy regulatory platform. Yes, the mixed reviews may deter your steps, but trying out the platform should clear most doubts and set you on the right path.