Olymp Trade Review 2018 | Introduction
We are looking into one of most successful brokers of 2017. Olymp Trade managed to attract a lot of traders in the past year and more importantly they managed to retain them. As binary options industry is quite competitive brokers tend to innovate. They do this either through offering new products or modifying their current offer to better meet demand. Olymp trade did a little bit of both. Besides that they have kept good work at keeping their customers happy through trading contests and very good work by their customer support team. To complete this Olymp Trade review we have looked into other important features of their offer: minimum deposit, minimum trade, money withdrawal, bonus, demo account, account types and much more.
Olymp Trade Review 2018 | Overview
This broker has been around for 4 years. It was established in 2014. Olymp Trade is owned and managed by Smartex International Limited Registration No.: 144540. Registration address: 103 Sham Peng Tong Plaza, Victoria, Mahe, Seychelles. However payments don’t go directly to this company. All payments, meaning withdrawals and deposit go through Wallfort limited which is registered at the following address: Kypranoros, 13, Evi Building, 2nd floor, office 201, 1061, Nicosia, Cyprus under registration number HE 364695. Its office and correspondence address is: 42E Arch. Makariou III Avenue, Matina Building, 3rd Floor, Office 301 B, 1065 Nicosia, Cyprus. Wallfort Limited acts as a payment agent for Smartex International Limited. This is nothing unusual. The Company is responsible for the actions of the Payment Agent as though they were its own actions according to their own terms and conditions.
It is important to say that Olymp Trade is rewarded more than once on international level. They received: “Best Binary Options Broker” by KROUFR Awards, “Best Binary Options Broker Platform” by IAIR Awards and “Fastest Growing Broker” by Show FX World. Every broker we review goes through the same amount of scrutiny. The same goes for Olymp Trade. Here is short list of most important information about his broker:
Regulated or Non-Regulated Broker: Regulated by FMRRS under license number TSRF RU 0395 AA Vv0088. Olymp Trade is also member of international Financial Commission, in short FinaCom.
Maximum Returns: up to 90%
Minimum Deposit: 10$
Transparency with Pricing and Payout: Withdrawal is done in 1 business day
Banking Options (Cards, eWallets&Wires): QIWI, Yandex, Webmoney, Neteller, Skrill, ePayments, Maestro, Visa, MasterCard and Fasapay
Range of Assets Available for Trading: over 110 assets
Software Platform: Olymp Trade trading platform (proprietary)
Customer Service: 24 hours a day, 7 days a week.
Best Trading Features: The lowest required deposit and minimum trade amount in the market
Excluded Countries: Australia, Canada, USA, Japan, UK, EU (all countries), Israel.
Binary Brokers Bonuses: Bonus up to 100% of deposit if trader makes deposit within 1 hour after registration
Supported Currencies: USD, EUR, RUR
As you can see above main alluring features of this brokers offer is super low minimum deposit requirement of $10 and according to that low minimum trade of $1. Broker offer very high returns on trades that can go as high as 90%. There is a lot of banking methods for both deposit and withdrawal. Only serious downside is that they still don’t support traders from many countries. This is due the fact that this broker’s main markets are Russia and all countries of Commowealth of independent nations, plus some Asian markets.
Olymp Trade Review 2018| Account Types
People at Olymp Trade like to keep things simple. Unlike most other brokers they have only one trading account and of course demo account. This is bit unusual but it’s part of Olymp Trade philosophy. All traders are equal, there is no special treatment for traders who invest bigger amounts. Every trade account owner gets free market analytics. That’s very valuable information on which traders can base their trading decisions. Every trader gets personal account manager and opportunity to use demo account.
Demo account is story for itself. It resembles true trade account in every possible way. Only difference is that on demo account you don’t trade for real money rather fake money. Everyone who registers at Olymp Trade site will be entitled to demo account, even before you make real money deposit to your trading account. This is really great because demo account uses the same trading platform as real account. That helps you to familiarize yourself with the trading platform and practice trading. Remember: practice makes perfect. It is always good idea to trade on demo account before you become skilled enough to trade for real money.
Picture: Olymp Trade demo account
Olymp Trade Review 2018| Bonus
Here is something new! So far Olymp Trade hasn’t been offering bonus to new traders, but that has changed. Now you can get bonus that can be even 100% of your deposit. You qualify for bonus as soon as you register at their web site. There is a catch though. Bonus can only be attained if you deposit your funds within one hour of your registration. So make sure you do that. Basically if you wish to get a bonus you should plan. You need to have money ready. It may be a good idea to register and start trading on demo account to gain experience. Then, when you feel ready you can register again and make a deposit within 1 hour from that registration to get your bonus. Just make sure you register first using your friends information, the next time you register you should use your own personal information.
There is one thing you should know about bonus policies around the options trading market: bonuses usually imply you need to make certain trading volume before you can withdraw money to your bank account. This volume can be 30-40 times value of awarded bonus. It is not defined in Olymp Trade terms and conditions how big trading volume you need to make before you are entitled to make your money withdrawal. Anyhow, keep in mind that if you wish to take bonus you need to be ready to trade for longer time period. On the other hand bonus can significantly boost your initial deposit. Choice is yours!
Olymp Trade Review 2018| Cryptocurrency Trading
Another novelty in Olymp Trade’s offer is cryptocurrencies! As always this broker is innovating, as they are one of the first options brokers who allowed cryptocurrencies for trade on their trading platform. For now these cryptocurrencies are available for trade: Bitcoin, Litecoin, Ethereum, Ethereum Classic, Bitcoin Gold, Bitcoin Cash, Ripple, Monero, Dash, Zcash. They are adding new cryptocurrencies regularly, so you can expect even more trading options quite soon.
As mentioned above Olymp Trade uses proprietary trading platform. It is uniqe on the market and it preforms very well according to our trading test. Feel free to use demo account in order to get accustomed to their trading platform. There are many trading assets available on the trading platform besides cryptocurrencies. There are five general assets: stocks, fiat currencies, cryptocurrencies, indices and commodities. If we would look for disadvantage of Olymp Trade trading platform that would be lack of more different types of trading. Only available type is good-old call/put (sometimes called high/low).
Picture: Olymp Trade trading platform
Olymp Trade Review 2018| Mobile Apps
This broker is really one of most innovative brokers in the market. And they prove that when it comes to their mobile apps. They have recognized that trader want to trade even when on go. To accommodate their needs Olymp Trade team has created iOS and Android trading apps. Both apps offer great trading experience and enable you to trade anywhere where you have internet access. You can trade from your favorite bar or even from work when your boss isn’t looking. With mobile apps there is no need to take a laptop with you when on vacation. As we can see from both Google play and Apple app store apps are very popular with big number of downloads. Android app has more than 100.000 ratings on Google Play and average rating is 4,2 which proves users are quite satisfied.
Picture: Mobile app
Olymp Trade Review 2018| Deposits and Withdrawals
There is a range of banking options with Olymp Trade. You can make deposit using following instruments: QIWI, Yandex, Webmoney, Neteller, Skrill, ePayments, Maestro, Visa, MasterCard and Fasapay. Minimum deposit required by Olymp Trade is among the lowest on the market, just $10. Olymp Trade makes sure that everyone can benefit from online options trade, not just rich people.
It is rule that you need to withdraw money to the same source from which you have deposited it from. Make sure you take that into account when making deposit. Once you request withdrawal broker will ask you for your personal information and it will be necessary to provide documents that prove your identity. This is important as part of Olymp Trade’s KYC policy. These measures are necessary to reduce possibility of money laundering.
Documents you are required to provide are: a colored copy or scan of your identity card, a colored copy or scan of your passport and driver’s license and a utility bill with your address on it. It may be enough to provide just color scan of your ID and utility bill. They need to have the same address on them. If you don’t have utility bill with your address you can use any document issued by government or your municipality office that is not older than six months. It usually takes broker only 1 day to process your documents, but it ca be few days longer. Finally after your documents have been approved withdrawal request is completed in just 1 working day. And then you get your well earned money. if you are looking for more information about money withdrawal read this article.
Olymp Trade Review 2018| Customer Service
You will know good broker when you engage with their customer service. Broker that really cares about his traders will make sure that trader gets support any time he/she needs it. People from Olymp Trade know this very well. That’s why their customer service department answers traders enquiries around the clock. It is possible to reach them on weekends too. Customer support is available in English, Indonesian, Portuguese, Russian, Thai and Turkish. You can contact support team by e-mail, phone or by live chat. Our experience with Olymp Trade support team was flawless. Olymp trade customer service is definitely most professional we have encountered so far.
Olymp Trade Review 2018| Conclusion
Since our first encounter with Olymp Trade we have noticed how professional this broker is. They really did their best to please their traders. Besides superior service they have also proven to be one of most innovative brokers out there. Olymp Trade should be considered early adopter of new trends. When cryptocurrencies became mainstream they were among selected few who immediately reacted to this trend and offered their traders cryptocurrencies for trade. Let’s number all the recent novelties introduced by Olymp Trade in past few months:
- Cryptocurrency trade
- Bonus for traders who deposit within 1 hour of their registration
- Withdrawals done in just 1 business day
- Mobile apps that offer great trading experience on go
Besides all these novelties there are other good old features of their offer that makes then great broker. These are most definitely their minimum deposit amount of only $10, but also minimum trade requirement of just $1. Olymp Trade really makes sure that even middle class can benefit from online options trade. Let’s not forget that Olymp Trade enables return on trade as high as 90%. And their customer service is active 24/7 offering support in several languages. Olymp Trade is regulated broker, which makes it easier to deal with them. Since if you suffer any losses incurred by this broker you can always look for help from authority. In case of Olymp Trade this would be FMRRS, they are regulated under license number TSRF RU 0395 AA Vv0088. On top of that Olymp Trade is member of of international Financial Commission, in short FinaCom.
If all of this has been enough for you to reach a decision to start trading with Olymp Trade you can do so by clicking on the button below the text. Create your free account and enjoy trading!