Is Olymp Trade a Scam

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Olymptrade – Legitimate Platform or a Scam?

OlympTrade is a trading platform that is designed for all types of investors and traders in mind, from the experienced investors to individuals who want to get a taste of the market. Today, it’s considered as one of the leading trading platforms, allowing its members to get engaged with options trading and forex trading.

As a leading trading platform, OlympTrade provides the market with a one-stop hub for trading, complete with easy-to-understand trading tools and resources that are easy to follow and understand. In an effort to position its brand as one of the leading trading platforms, OlympTrade strives to provide the best trading experience, and at the same time helping its members (traders) get the right skills and boost their income along the way.

OlympTrade real reviews: Is it a scam?

OlympTrade is, of course, widely reviewed online, and majority of these reviews are positive. Our team managed to check and read some of the reviews posted in the top websites and community forums in different parts of the world including Russia, Brazil and United Kingdom.

And based on our casual reviews, we found out that this platform is easy to use, offering its members with friendly services, especially when it comes to funding and withdrawing from accounts. Some reviewers also noted the ability of the platform to allow customers to earn up to 90 percent profit on each profitable trade. In all reviews, customers and traders are one in saying that Olymp Trade offers a satisfying platform for trades.

Broker Bonus Min Deposit Payout Review Open Account
FREE DEMO ACCOUNT $ 10 82 % for Standard, 90 % for VIP accounts* Review Trade Now!

Negative trader reviews:

This trading platform ha also, naturally, received a number of negative reviews and feedback from verified customers. According to some reviews that are posted online, the trading platform is a scam, and will not allow its members to withdraw their funds. However, according to other people, common sense and our examination, these are empty accusations that can all be simply explained below.

Issue No. 1: Customers cannot withdraw their money.

Withdrawal is subject to certain conditions as explained by the following:

  • Customers are advised to verify their identities within a few days of registration and before depositing money.
  • The wagering requirements must be met, if the trader accepts to receive the trading bonus. The wagering requirements are set at x30 the bonus amount.

If these conditions are not met, then the withdrawal of the bonus funds will not be allowed. However, both of the reasons for canceling a withdrawal mentioned above are the same with all brokers in the world. Because of regulations, you are required to verify your identity with ALL brokers. In case you face the same problems, then it’s highly recommended to coordinate with Customer Support.

Issue No. 2: Customers are losing their money

Keep in mind that binary trading is all about risks, and there’s a big chance that you will lose money when you engage in this business. If you want to take the risk, then it’s better to be prepared. One thing that you can do is to try first the demo version of the trading platform before trading for real money.

It’s the nature of trading. Some people make money while the others lose. This is not a reason for calling a broker out. That’s why we always recommend trading on the demo account first, before depositing any real money. Also, keep learning about trading.

After all: Is Optiontrade a Legitimate Trading Platform?

Based on the assessment of the services and business practices, we can say that Olymptrade is not a scam. If indeed this was scamming company, then the most established and experienced investors and traders would have left the platform. Also, they could have left the most painful negative reviews for the trading platform. Based on available evidence and details, it seems that this trading platform offers a legitimate trading opportunity. The website offers transparency, and interested customers and traders can easily know and verify the services, starting from money management to order placement.

How to verify account at OlympTrade?

If you are from Nigeria, India, Pakistan, UK, wherever, the process of verification is the same for everybody on this planet. We are getting more and more questions about “how to verify my account”, “what documents do they want” etc… Please read this below carefully and keep in mind, that the process of verification is still the same and same for everybody, so you don’t need to worry about anything! Let’s go.

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So to complete the verification (to withdraw your money) you need to send these documents:

  1. A photo where you hold your passport/ID card in expanded form and where they can see your face and the details in the passport/ID. It’s like a selfie with an appropriate document – nothing more. Note that the photo must be from your shoulders up and it must be easily seen (no blurry). Like on the image below.
  2. Then you need to send them also the photo/scan of the appropriate document that you want to use – ID or passport.
  3. If you used for the deposit a credit card, you also need to send photo/scan of the card from which the payment was made. On the card, the first 6 and last 4 digits, name and surname must be seeable. The validity of the card and the rest of digits can’t be seeable (cover it). The reverse side of the card doesn’t need to be present (they don’t need it).
  4. If you used for the deposit an electronic wallets – A photo/screenshot of the personal electronic purse (Skrill for example) need to be also sent (screen the detail of your account). The information you need to provide is – the picture of number, owner’s name, and the second photo/screenshot must be of that right money transfer (that one your transferred money to OlympTrade).

Where to send the documents?

Upon receipt of the verification request, all the necessary documents must be sent to the e-mail – [email protected] together with the login (the login is the email address) you put during registration.

How long does verification take? Processing of the documents takes up to five business days. And the result of the document verification you will find on your email because you will receive an email with notification about the result.

That’s it – If you need to help with the verification, let us know and we will try to help you.

Corporate Information

OlympTrade is a legitimate and licensed broker which is recognized by the Financial Commission. As part of the commission, each trading account has insurance for $20,000. This trading platform is owned and operated by Wallfort Limited and the Inlustris Ltd, with the following mailing address:

  • Inlustris Ltd
    • Registration No.: 25161 IBC 2020. Registered Address: James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building, Saint Vincent and the Grenadines.
  • Wallfort Limited
    • Registration number HE364695. Headquartered in Irodi Attikou 8A, Lakatamia, 2332, Nicosia, Cyprus.

More info about OlympTrade

Author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

202 Responses to “Olymptrade – Legitimate Platform or a Scam?”

This is very important to complete verification in time. Not only for the sake of bonuses from Olymp Trade (which is indeed very motivating factor by itself) but in order to avoid issues with your account in future. You can forget to complete the verification and you will only remember about it when you try to complete the withdrawal. Broker has the right to lock your account in this case until your verification is completed. Sure enough you’ll be able to unlock it by providing all the paperwork. But agree, this is much easier to do it all at once. This is not just Olymp’s requirement. Its anti money laundry legislation that we all have to obey.

I live in Ghana, West Africa. Can I trade with Olymp Trade? And do you have clients from Ghana, West Africa who I can contact?

IS THIS WORKING IN BOTSWANA
HOW MANY OF THEM HAS SUCCEDED

Please my administrator.this is my first time to deposit money in my real account.am in nigeria.i use fcmb Visa card it keep on saying transation declined.i tried to use Netterler and Skrill still it can not work.please I want to no whether the fault is from my fcmb bank or from my olumpic account.

Hi, Does Olym Trade work in Somalia? if yes, can i withdraw from my account here?

Good guys please I really want to trade Olympic trade on MT4. Does Olymp trade have that?

Unfortunately, they don’t. But you can still open MT4 and analyse the markets there. Then, when you see a good trade opportunity, just open the trading platform in a new window and open the trade.

please what is the minimum withdrawal

Hi Jinadu, There should be no minimum withdrawal as long as you want to withdraw more than the fees – the fees vary in each country and for each method, so I cant tell you the exact number.

Please, how much is the bonus on $10 deposit ?

Could you please enlighten me on the depositing options of this broker? More particularly, do they differ for specific countries, or not? The point is, I’ve heard one can top up the account with bitcoins, and yet there’s no such option in my personal account.

I’m from Nigeria,
What exactly do I need to verify my account.
If I want to start trading

i got a feeling the platform is working against me delebaratly,

I trade on olymptrade, I requested for a withdrawal of 20$, 10$ was sent to me and they told me the next 10$ has being processed and will be sent to me the next working days. Why can’t my money be sent whole. I need answers please

Dear Emmanuel, I think the problem is that you only deposited 10 dollars with your card. The way it works is that the broker can only return the amount of the deposit to your card – not more. The rest has to be sent in a different way – through an eWallet or WireTransfer maybe.

I am facing the same problem, although olymptrade only deposited $20 to my account instead of $36 but now theres no balance left to tranfer to the e wallet please assist

I have a question regarding the bonus you are getting while depositing for the first time. Is it true, that even if I lose the money I deposited? So if I make 1000 dollars deposit, I will get another 1000 dollars as a bonus, and then I lose 1000 dollars in deals I will still have that 1000 on my account? And I will be able to trade this money but don’t withdraw? And when I start to get the income, will I be able to withdraw all the profit?

olymp trade is a big scam,there demo trade is completely different from what you see on live trade..you needed to see what the platform was doing immidiately they got me as client in there cage.i took time to compare the live and demo but its all fake people.i understand onlin trading very well ..my demo was wonderful.coming to live jesus its nothing to right home about.there is nothing anyone will tell me about them.i entered a trade in live ,a selling ,market same time as in my demo also,demo turn out well while live start illegal shaking at the end of the day my live came out losee.
they are criminalsssssssssssssssssssss

Thank you for sharing your experience, we hope it will be useful for other traders.

Iam from Nigeria, i don’t know if Olympic trade work in my country

you will find all information about IQ Option in Nigeria in this article – https://xbinop.com/does-olymptrade-broker-accept-nigerian-traders/

In case you need more info, let us know.

Have a nice day.

Hi, I just want to ask if we can upload our verification documents on the platform upon registration instead of sending our documents to an emails. And beside. Is it save to send our sensitive documents to an email I?

Samuel, yes, please go to your account and upload documents there – do not send it over email.

I have account but I ask olymptrade they said my account doesn’t need any verification so am afraid

In most cases, the verification is done during the first withdrawal. When you request a withdrawal for the first time with an unverified account, you shall receive an electronic letter through your email asking you to submit documents for account verification.

Have a nice day.

Can I submit only my bank statement as my document

Hello, it’s one of the documents, you need more of them.

As it’s written in the OlympTrade review.

Have a nice day.

I just deposited into my live account.And I have traded and I withdrew my profit,but they said I should expect the money in the next five working days.
I need your help because the money has been deducted.

did you get your money, or not?

Let us know, thank you.

Is it possible to use olymptrade here in Zambia?
Thanks.

Dear Sifaya, I think it’s not possible. But go ahead and try IQ Option, they should accept Zambian traders as far as I know. If they don’t let us know! ��

can u also deposit through paypal

No, unfortunately, as far as I know, PayPal is not supported.

It’s more than a year that I’ve been trading with Olymp Trade, and generally I’m satisfied. Making deposits and withdrawing money to the e-wallet is quute convenient, plus, the platform itself is totally user-friendly. In the near future, I’m planning to upgrade my account to VIP. I’ve already received profit on the first deposit, so I need to add just a couple hundred dollars to gather the necessary amount. I read that VIPs get the payout rate of as much as 90%. I wonder how many assets does this relate to, or is it just the EUR/USD currency pair?

Hi, does this olymptrade broker require a certain amount deposit of registration or is it free? And what is it all about I mean what is to be traded?

Dear Kay, the minimum deposit required is 10 US dollars and the min trade amount is 1 US dollar. You don’t need to deposit if you only want to trade on demo account.

Please in all your explanations above, did someone needs to send all the verification before depositing or after depositing and I Want to ask if OlympTrade has just only one app or they has many cause some may be scam and some may be real

Dear Samuel, it depends on your country. Sometimes you need to send documents before depositing, but some times after doing so. But be assured it’s safe and they won’t use it for anything bad. I have personally sent documents to more than 10 broker in the past 5 years and have never had any problem.

Is it advisable to deposit with btc in olymptrade

Akpituren, yes you can do it and there is no problem, just like with other deposit methods.

Hello please I need more guide to verify my account can you help me am from Nigeria

Hello, read more about binary options trading in Nigeria here – https://xbinop.com/does-olymptrade-broker-accept-nigerian-traders/ if you will need more info, let us know. Have a nice day.

J. Pro, I wanna know the maximum withdrawal amount in Nigeria at a go.

Hello, the maximum withdrawal amount is limited only by your bank or e-wallet. The verification procedure does not depend on the amount of withdrawal.

Let us know, if you need more help.

Is it a must we scan an energy bill because I don’t make those kind of payment directly that’s the job of my landlord

Bobby, you don’t have to do that. If you have a bank account you can simply scan the bank receipt with your address.

Hello, if you don’t have an energy or phone bill I guess that you can use a bank account statement. Have a nice day.

Thanks J. pro for your comments so far
Talking about account confirmation, must the name on the utility bill/ electric bill corresponds with my name? If yes, what should i do, because am not staying in my own house, the name on my electric bill is not bearing my name.

Collins, if you can’t use utility/electric bill, you can use the bank account statement which contains your address – that’s the easiest way.

should I send a picture of my credit card to the e-mail address during verification before depositing money?

Yes, but cover the middle 8 numbers! If you don’t, it’s dangerous and you could get scammed.

I am a Nigerian, please I want to know if I can withdraw to my naira debit card if I use it to fund my olymptrade account. Thank you.

Pladayo, as we mention in our article OlympTrade Nigeria, it shoudld be possible to use the Naira card to both deposit and to withdrawal afterwards.

thks for ur review on this trading platform… I have few questions.. 1st of all.. hw long can one trade before he start withdrawing.

2nd, is there any commission charge at the point of withdrawer?

3rd, what are the disadvantages of receiving bonus while depositing…

lastly, if I deposited thru the mobile app, who is my broker. thks

Bolaji, thanks for your questions. You should be able to withdraw even on the same day as you deposit – no problem. The withdraw fees vary and depend on your country and the method you use for withdrawal. Wire transfers have a fee for sure, but withdrawals to e-wallets like Skrill should be free. I do not recommend the bonus feature, because according to the terms and conditions, if you accept a bonus of (for example) 100 USD, you will have to make trades in the total value of 4 000 USD in order to be able to withdraw your money.

A highly innovative company Olimp Trade is constantly inventing various things to provide its customers with profit. Only at the moment there are at least 3 options that will prevent a trader from loosing money. Stop out is my favourite. It will close a deal automatically if the price of the asset begins to decrease after purchase.

pls what type of passport can one use particularlly

Is olymptrade.com real or a scammer’s site?

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It is so commom to see this kind of questione here! Olymp Trade is more than a genuine broker!!

They offer you an opportunity to trade in a great market, the digital options. I have been negotiating with their platform for more than 1 year and I can tell you that they are genuine!

They have a lot of training materials for people that are beggining and also a demo account where you can train you strategies before start in the real account.

I never had any problems related to deposits or withdraws, they happen very fast.

Also, the graph is very easy to analyze and the platform has a lot of indica.

Is Olymp Trade Scam? – Broker Review 2020

Review: Regulation: Min. Deposit: Yield:
(4.8 / 5) IFC 10$ 92%+

Is Olymp Trade a reliable Digital Options and Forex Broker or not? – In this review, I will show you my test results of the company. Olymp Trade offers the possibility to bet on rising and falling markets to get a high profit/payout. Is it really worth to invest your money or not? – Now read more about it in this review.

The official homepage of Olymp Trade

What is Olymp Trade? – The company presented

Olymp Trade is an international Broker for Digital Options and Forex. The company is based in Suite 305, Griffith Corporate Centre P.O. box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines and managed by Walfort Limited. Since 2020. The Broker is regulated by the International Financial Commission. Traders are protected by a 20,000€ compensation fund. This is a really big advantage of this broker.

The broker offers you a free demo account to practice the financial instruments on the unique trading platform. Also, there is a phone, chat and email support. If you deposit 2000$ or more you can get a direct account manager and better support with special education and bonuses. In conclusion, it is a very experienced broker with knowledge. They pay out more than 9 million $ every month.

Facts about Olymp Trade:

  • Broker since 2020
  • Regulated by the IFC (20,000€ compensation fund)
  • Free demo account
  • Good and professional support
  • Trade Digital Options and Forex on one platform
  • Free education for the best success

For the first impressions, Olymp Trade offers a clearly structured and well-built website. Compared to other brokers they want to give the trader more than only Digital Options. As a customer, you got access to intensive education information about how to trade successfully. In addition, the broker provides his traders actually an analysis of the current market status. This is the best basis for becoming a professional trader.

Regulation and safety of the broker

Is Olymp Trade regulated? – As mentioned before the company is officially regulated by the IFC. This is a big advantage compared to other Digital Options Brokers. It is the most important point to check before you invest money with an online broker. The IFC acts internationally and is based in England and Hong Kong. The broker is regulated by category A. This is the highest category. The regulation checks out the trading technology and the reliability for customers.

By doing a violation of this license they would lose it. Traders can contact the IFC to report their problems with any broker. The IFC is neutral support who will clear this case of complaints.

Olymp Trade official regulation

Moreover, the website belongs to Inlustris Ltd where the agent is Walfort Limited. This is a company with the registration No. HE364695 based in KPMG Center, 1-st floor, 1 Agias Fylaxeos Street, 3025 Limassol, Cyprus. All in all, financial regulation and the company registrations show me that Olymp Trade is a legal and legit online broker.

Facts about the regulation:

  • IFC regulation
  • Monetary compensation up to 20,000€
  • Registered company in Cyprus with No. HE364695

The conditions to trade with Olymp Trade

Olymp Trade offers you a free demo account. For trading with real money, you have to deposit the minimum of 10$. Sometimes there is a deposit bonus which doubles your money or you can get risk-free trades. The start amount for a trade is 1$ and the maximum is 2000$. VIP accounts can trade with maximum 5000$ in one trade.

More than 200 different assets are available to trade on the platform. The trade execution is out of my experience very fast. The yield/return for normal accounts can be between 75 – 95%. In the VIP Account, you can get higher returns of 92%+. In conclusion, Olymp Trade gives a trader all the options he needs.

Facts about the conditions:

  • Only 10$ minimum deposit
  • Start trading with 1$
  • Free demo account with virtual money
  • Maximum trade is 2000$, VIP 5000$
  • Over 200 assets with high profit (92%+)
  • Trading 24/7
  • Forex, Cryptocurrencies, Stocks, ETFs, and more

Trading with Digital Options follows a very simple principle. Just make a forecast for the price direction of the markets in a certain expiry time and bet on rising or falling markets. You have to predict it correctly to get a high return on investment. On the platform, you can trade short-term or longterm trades (read more below). Digital Options are available for a diversity of underlying assets. The broker offers popular stocks for example of the S&P 500 and more other indices. Trade forex, commodities and cryptocurrencies 24/7 via computer or smartphone.

Assets: Support: Trading on weekend: Trade execution:
100+ Forex, Crypto, Stocks, Commodities 24/7 Phone, Chat, Email Yes Very fast and no laggs

Review of the Olymp Trade Platform

In this review of Olymp Trade, it is important to look at the trading platform. At first glance, the platform looks very clear and user-friendly. After some practice, you will feel very comfortable. With Olymp Trade you can use the version for your computer or for your smartphone/tablet as an app.

There are a lot of functions in the interface. Do one click trades and sell options early before the expiry time. It is possible to develop different strategies with free indicators and technical analysis in a separate window. You can easily customize the chart. It is possible to trade 24/7 on this platform (crypto-currencies and OTC for example). The biggest advantage is the use of demo and real account in one window. You can change between the two accounts in a few seconds.

Facts about the platform:

  • Flexible and user-friendly platform
  • One-click trading
  • Sell options early
  • Use free indicators and strategies
  • Get VIP Signals for high profit
  • Change between Digital Options and Forex Trading

Charting for professional trading

As you see in the upper picture Olymp Trade offers multi-chart. That means you can open more than one asset at the same time. The chart is available in different types and you can customize it by yourself. The charting software works very smooth and without any lags. For example switch between different timeframes within less than 1 second.

Charts:

  • Line Chart
  • Candlesticks
  • Bar Chart
  • Mountain Chart

Free indicators are available

Indicators are necessary for technical analysis and strategies. Olymp Trade offers a huge range of indicators. There are more than 20 different types to use. Just add them by one click. In addition, you can customize the period, color and more by the trading platform. Use the indicator like a confirmation for your technical analysis. You can improve your profit by using RSI, Bollinger Bands, Moving Average and more.

Drawing tools for Technical Analysis

Also drawing tools are available on the trading platform. Horizontal lines, vertical lines, trend lines, and Fibonacci can be used by traders. In conclusion, Olymp Trader offers a wide range of different tools for analyzing the assets. The platform provides a trader what he needs to trade successfully.

Available for any device

Olymp Trade Mobile Trading (App) for any device

Nowadays it is important for brokers to provide a mobile platform. Trades want to trade with their smartphone or tablet. Check out your portfolio and opened position while you are on the road. The app is available for any device and there are the same functions as in the web-based version. From my experience, the mobile app runs quickly and without lags. It completes the portfolio of the broker.

Trading tutorial: How to use Olymp Trade?

Olymp Trade offers to invest in rising or falling markets. You can buy short (put) and long (call) Digital Options or trade Forex. The financial products are very flexible and tradeable for different underlying assets. The advantage of Digital Options is that the risk is limited to the bet amount and you can earn a high profit in a short period of time. Also, long time horizons for trading are available on Olymp Trade.

For Forex Trading you are not limited by time but the market has to move more prices into your favor in order to make high profit. In the next section, I will explain to you how to trade with Olymp Trade.

Example Digital Options – EUR/USD – 92%:

Make a forecast of the EUR/USD in a certain expiry time. Buy or sell the asset with a Digital Options. If the market moves in your direction, you will get a high payout of 92%. 1000$ investment means a return of 1920$. 1000$ is the return of your bet amount and 930$ is the profit. For example, this can happen on a time horizon of 60 seconds or longer.

Earn up to 93$ in a small time horizon with Digital Options

  1. Select an asset based on the return or your analysis
  2. Select a chart type and do a forecast of the movement
  3. Choose a trade time
  4. Choose your investment amount
  5. Start trading (invest in falling or rising prices)
  6. Wait till the trade ends (The price have to be above or below your entry point)
  7. Earn a huge return or lose your invested money

Example Forex Trading with Olymp Trade:

Choose an asset you want and make a forecast like with Digital Options. The difference is now that your profit is depending on the market movement. In Forex Trading you buy or sell an asset and now you have to wait if the price is falling or rising. The more the price goes in the direction of prognosis, the greater the profit. For Forex Trading you can use a leverage of up to 1:500 and use a loss limit (stop loss) and profit limit (take profit).

Forex Trading with Olymp Trade

  1. Select any asset you want (currencies, cryptocurrencies, ETFs, stocks, commodities)
  2. Make a successful chart analysis
  3. Choose your investment amount (be careful because it is leveraged trading 1:500)
  4. Use a market order (by asset price) or limit order (by time)
  5. Select risk limits (stop loss and take profit)
  6. Start trading and earn money when the price is falling or rising

Free and unlimited Demo Account

Another important criterion for a reliable broker is the demo account. It is an account with virtual money. So you can trade without risk. Most traders get their first experience with this account by practicing their first trades. The account is useful for getting your first impression of the broker. Beginners and advanced traders can improve their strategies without risk.

Olymp Trade offers a free and unlimited demo account. As a trader, you can switch with one click between the demo and the real money. If you feel comfortable, start trading with real money. The conditions on these 2 accounts are the same and there is no difference.

Sign up on this form below and get a direct access to the trading platform:

Open your real account

With Olymp Trade you got only one account. The advantage is that you can switch between the demo and real money with one click. Just register with your full name, email, phone number, and a secret password. You can choose between a euro or dollar account. In addition to that, you can start trading directly with real money after the deposit. In my opinion, you should verify the account first because the broker only can withdrawal to verified accounts. It only takes a maximum of 10 minutes to verify your account. In addition, you can activate some features for more safety (picture below).

Account types review: VIP status and basic account

I like it that Olymp Trade offers some traders the VIP account. You have to deposit more than 2000$ for the VIP status. The VIP traders get better support and more education like webinars for trading. In addition to that, there are VIP managers who will help you in any situation and the maximum trade limit is higher (5,000$).

The biggest advantage is the high return of 92% or more. The chance of making money is higher than in the regular account. In conclusion, I recommend using the VIP account for trading.

Fast withdrawal and deposit with Olymp Trade

Just deposit and withdrawal with different payment methods in a few seconds. The deposit is as easy as the withdrawal. The withdrawal system works very fast and they payout in less than 3 days. Sometimes I waited for my withdrawal only 10 hours. Use your bank card (MasterCard, debit card, credit card) or an electronic payment system (Skrill, Neteller, Epayments, Yandex). Also, you can use Bitcoin. Sometimes the payment methods depend on your country.

There are no hidden fees for your transactions. This is a big advantage for Olymp Trade.

These payment methods are available:

  • Credit Card (Visa/Master)
  • Skrill
  • Neteller
  • WebMoney
  • Bitcoin
  • Yandex
  • Qiwi
  • ePayments
  • Read my full “deposit tutorial” with real money
  • Read my full “withdrawal tutorial” with real money

Olymp Trade fees and commission review

Olymp Trade does not charge any fees for deposits, withdrawals, and trading Digital Options. Sometimes it can happen that your payment method is charging a small fee. For Forex Trading is a small trading commission charged. This fee is depending on the market situation and the asset. You can see transparent the trading fee on the platform.

In conclusion, there are no hidden fees and Olymp Trade is one of the few brokers which charges no fees on deposits and withdrawals.

Bonus and conditions

Olymp Trade offers a range of deposit bonuses. The bonus depends on the amount and on the promotions. Sometimes there are special promotions for new customers.

For example, you do a deposit of 1000$ in your account and activate the bonus of 100%. Now you get the balance of 2000$ and 1000$ is additional money gifted by the broker. Now you can trade with more risk and money to improve your profit. It sounds very easy but you have to be a successful and profitable trader.

Most brokers have restrictions for their bonus offers like a turnover of the trading volume. Not so with Olymp Trade. You can withdraw your money and profit at any time but it is not possible to withdraw the bonus. In conclusion, the bonus can be used to earn additional profit but can not withdraw.

Facts about the bonus:

  • Olymp Trade offers a free bonus
  • There are no restrictions for you account balance
  • You can not withdraw the bonus
  • The bonus can be used to make additional profit
  • Read more about the Olymp Trade Bonus Conditions

Are Robots and automated trading allowed with Olymp Trade?

Attention:

Robots and automated trading tools are not allowed with Olymp Trade. If the broker finds out that you are using automated trading your account can be banned forever without warning.

On the internet, you will find a lot of different Olymp Trade bots or robots. From my experience, these systems are fake and they try to steal your money. I recommend it never to try any automated strategy or system which you will find on the internet without any proven statistic. So it is fake news that you can use a robot with Olymp Trade.

Robots are scam and fake

Olymp Trade does not allow robots and automated tools to protect its customers because there are a lot of scammers with automatic trading systems. In conclusion, you should never use any Olymp Trade robot or automated bot.

Webinars, Strategies and more – Olymp Trade education

The education is provided for beginners and experienced traders with Digita Options and Forex Trading. Learn more about new strategies, economic news and the psychology for traders. The range of education is very big. You can see the last webinars as videos in the education center. I did not watch all the videos yet because there is so much information.

The advantage is that everybody can use the education center. Just create a demo account an learn how to trade successfully. Start trading with virtual money and when you feel comfortable you can deposit real money. Earn hard dollars with the right knowledge.

Support and service for traders

Another important point of this review is the support and service for traders. From my experience, the support is very competently and works fast. Traders got a range of possibilities to ask questions. First of all, you can use the FAQs (frequently asked questions). Also, direct contact via chat and phone is possible. Another advantage is that the broker got well-educated account managers for VIP-Accounts. They are personally available for bigger clients. In conclusion with more than 8 different languages, the support is reliable and recommendable.

Facts about the support:

  • 24/7 Support
  • Account Managers
  • Fast and professional support
  • More than 8 different languages
  • Vip training

Which countries are available?

As mentioned before the support speaks more than 8 different languages. Also, the website is available in more than 13 languages. The broker tries to improve its service for international clients by getting more additional service employees. Digital Options and Forex Trading are growing fast around the world but there are some countries where Olymp Trade does not provide its service:

These countries are prohibited: European Union, USA

Asian and Africa is the fastest growing region for Digital Options. Many traders ask: Is Olymp Trade legal in India? – Yes, it is. There are no restrictions for trading binary in Asia, India, and Africa. The Broker tries to improve its service in these countries.

The fastest growing countries are:

Support: Operates: Phone: Adress:
Phone, Chat, Email 24/7 +27 (21) 1003880 – Cape Town, South Africa
+54 (11) 59175747 – Buenos Aires, Argentina
Suite 305, Griffith Corporate Centre P.O. box 1510, Beachmont, Kingstown, St. Vincent and the Grenadines.

Review conclusion: Is Olymp Trade real? – Scam or reliable Broker?

Olymp Trade is interesting for beginners and advanced traders. In conclusion, it is a very reliable broker for Digital Options and Forex Trading. The company provides a very good service since 2020. I tested the platform in detail to provide you good feedback. I have to mention the platform gives you the best execution for trades and you can customize it as you want.

Usually, the yield/return for normal accounts is between 75 – 95%. It depends on the asset and market you are trading. Otherwise, you can get a higher return with the VIP account. At the moment Olymp Trade is one of the best Online Brokers for private trading. I did not notice anything bad during this test.

Advantages of Olymp Trade:

Start trading with only 10$

Very good and professional trading platform

Trade Digital Options and Forex on one platform

Fast withdrawal and deposit

Free education for successful trading

Olymp Trade is one of the best addresses for Digital Options Traders. Earn a high profit in a small time horizion with a regulated company (4.8 / 5).

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Binary Options Broker 2020!
    Perfect For Beginners!
    Free Demo Account!
    Free Trading Education!
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  • Binomo
    Binomo

    Good Choice For Experienced Traders! 2nd place in the ranking!

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