Olymp Trade is a very well recognized online trading brokerage and has won numerous awards from various international publications. The brokerage was founded in 2014 and is owned and operated by Smartex International Ltd. Olymp Trade offers their services to traders from around the world but is based out of St. Vincent and the Grenadines with their headquarters located at Suite 305, Griffith Corporate Centre P.O. box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.
As far as regulation goes, Olymp Trade is a member of the International Financial Commission and is therefore a safe and reliable online trading brokerage. Olymp Trade continues to innovate and grow as a reputable online trading brokerage and now has more than 20,000 active traders trading each day and nearly 32,000,000 trades per month with an average trade value of $4.50.
Therefore, Olymp Trade is obviously a reliable and trustworthy online trading brokerage, but are they right for you? Find out in our in-depth Olymp Trade Broker Review where we discover what makes Olymp Trade so special and analyze the quality of services they provide.
Favorable Trading Conditions
Olymp Trade does not charge any commissions or fees.
Traders can earn up to 92% payouts.
Excellent Trading Platform
The platform is intuitively designed and very easy to use making it perfect for beginners.
Limited array of Tradeable Assets
Traders only have access to 65 different assets.
Limited customer support options
Olymp Trade is lacking live chat support and support forum for traders.
We don’t just give traders a chance to earn, but we also teach them how. Our team has world-class analysts. They develop original trading strategies and teach traders how to use them intelligently
Commissions & Fees
Olymp Trade is potentially a very lucrative binary options trading brokerage because they do not charge any fees or commissions to their traders. All trades are zero commission trades, and all deposits and withdrawals are free of charge as Olymp Trade assumes all fees associated with deposits and withdrawals.
The only way Olymp Trade makes money is when the trader loses a trade. When a trader loses a trade, the broker collects all of the money from that trade. Therefore, Olymp Trade can be a very lucrative binary options broker if the trader knows how to successfully trade binary options. Traders can potentially see returns of up to 92% on VIP accounts and up to 80% on regular accounts.
Platform & Tools
Olymp Trade provides traders with their very own proprietary web based trading platform that is accessible via the web browser interface on desktop computers. The trading platform by Olymp Trade is continuously improving and innovating based on their traders needs and the latest industry trends. The user interface is intuitively designed and packed with loads of advanced features for both beginner and experienced traders.
The platform comes complete with a sophisticated order book where traders can place multiple binary option order types. As well, the platform has a sophisticated charting package that comes complete with an array of drawing and analysis tools, built in technical indicators, chart types, and time frames. As well, traders can easily view their trade history and analyze their past performance as well as view new market trends via the fundamental analysis section. All in all, the trading platform by Olymp Trade is of premium quality and features everything a binary options trader needs to succeed.
The Olymp Trade platform is not only a web-based platform, it can be downloaded for free from the Apple App Store and Google Play Store for either iOS and Android mobile devices. The mobile platform supports all of the same tools and features as the desktop platform, only they have been optimized to work on all mobile devices including smart phones and tablets. As well, the mobile trading platform supports some additional features such as push notifications and watch lists of your favorable tradeable assets.
Olymp Trade primarily serves entry level binary options traders and therefor only offers two simple account types for traders to choose from. See them overviewed below.
- Great for practicing
- Designed for new traders
- $10,000 in virtual money
- $10 minimum deposit
- Includes all trading materials
- Access to all trading and analysis tools
Deposits & Withdrawals
Olymp Trade supports the same standard deposit and withdrawal methods as most other online trading brokerages. Such methods include; Debit and Credit Cards, Bank Wire Transfer and other E-Payment solutions such as Yandex Money, Fasapay, WebMoney,ePayments, Qiwi, and Neteller. All deposits are free of charge and are processed nearly instantly, with the exception of Bank Wire Transfers that take 1 – 5 business days to complete.
All withdrawals are free of charged as well and take between 1 – 5 business days to be completed. Withdrawals are usually done via the same method as deposited, unless the brokerage is contacted for an alternative method.
Olymp Trade customer support is rather limited but of high quality. Customers can reach support representatives via email or telephone that guarantee responses within 24 hrs. As well, support representatives can be interacted with via social media including Facebook, YouTube, and Google+. Additional methods of support include an extensive FAQ page, a glossary, and a comprehensive education center complete with webinars, articles, indicators, strategies, and more. It’s clear that Olymp Trade cares about their customers and their success with the extensive level of care provided.
Security & Fairness
Olymp Trade is a highly reliable, secure, and fair online trading brokerage as they employ all of the latest and greatest security measures to protect their user’s personal information and funds. The brokerage is a member of the International Financial Commission which protects and ensures customer funds of up to $20,000 in the case of fraud by the broker. Also, Olymp Trade has been successfully operating since 2014 and have been providing fair and reliable trading services with no fees and high payouts to their traders. Although Olymp Trade has an impeccable reputation, they are not licensed or regulated by a reputable regulatory agency, which raises some concern for us. However, just because they are not regulated doesn’t mean they don’t maintain secure and fair online trading services. All in all, Olymp Trade is one of the safest, most secure, and fairest binary options trading brokerages we have seen.
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