Unfortunately binary options trading has been plagued by scammers from the start. We at Options Reviews are doing our best to test brokers one at the time to make sure our reader get the right information. So, we tested Olymp Trade to check it this broker a scam or not. We bring you our Olymp Trade scam test and its results. Wish to learn more about Olymp Trade? Read our Olymp Trade full broker review.
Olymp Trade Scam Test | Introduction
In our experience scam brokers cheat their traders in two main areas. These are trading platform and money withdrawal. Also scam broker can be easily recognized through their customer service. So when testing any broker we pay special attention to these three areas. Read on to find out how Olymp Trade fares when it comes to trading platform, customer service and money withdrawal.
Olymp Trade Scam Test | Trading platform
Olymp Trade uses their own trading platform, rather than using same platforms as other brokers. This in a way rises suspicion. This is because we have tested platforms by different platform providers and when broker just take already exisiting platform from platform providers that we tested we can be sure platform is safe. Here with Olymp Trade trading platform we had to test it meticulously by ourselves.
We registered and started trading. What we noticed first is smaller number of available assets to trade on trading platform than usual number offered by other brokers. This is Olymp Trade’s major downside compared to other brokers. But on the other side platform is very user-friendly. Anyway, during the trading process we haven’t have any issues with the platform. It didn’t display any glitches or down times. When trading with scamming trading platform it can happen that certain “glitch” changes trade outcome so that trader loses. Sometimes it can happen that down time occurs exactly when you are about to win trade and after that when trading platform resumes it doesn’t add money you earned with that trade to your trading account due to “technical difficulties”.
Sometimes scam brokers can change assets price movements so that your otherwise winning trade ends up as losing trade. To check that we made the same trade moves with same assets using trading platform of other broker that we checked for scam earlier. Every time we got the same trading result so it appears Olymp Trade trading platform is in order.
Olymp Trade Scam Test | Customer Service
Scam brokers really don’t care about their traders but only about their trader’s money. This can be well seen at their customer support service. When you contact them they are usually trying their best to talk you into depositing as much money as possible and then advising you to make as big trades as possible to spend as much money as fast as possible. Otherwise they are not of much help… They will do everything in their power to stop you from withdrawing money from your account and again try to talk you into investing more money.
We contacted Olymp Trade customer service and they proved to be very helpful. Not a single time they advised us to invest more money than we are ready to risk. And one time we decided to make I withdrawal we pretended we don’t know how to do it. That time their customer service proved very ready to help even though we were withdrawing all our funds. So Olymp Trade customer service passes our test with flying colors.
Olymp Trade Scam Test | Money Withdrawal
Most important part of any scam test is test of money withdrawal. Al scam brokers will try to make this process as difficult as possible and in the end trader won’t get his/her money. As trading platform and customer service proved to be valid we paid special attention to money withdrawal.
After we made deposit we made trades necessary to test trading platform we decided to withdraw funds. To be sure that we will attract their attention we deiced to withdraw all our funds in order to see if there will be any reaction. But everything went smoothly. We got our money in few days. Exact amount we withdrew appeared in our bank account. Great thing about Olymp Trade is that they are allowing withdrawal once a day free of charge.
Olymp Trade Scam Test | Conclusion
As you could read above we tested trading platform, customer service and money withdrawal to see if Olymp Trade is a scam. Olymp Trade passed this tests with flying colors. It appears we are dealing with an honest broker. Trading platform performed perfectly, customer service was very helpful and money withdrawal was very easy. Our final verdict is: Olymp Trade is NOT a scam broker! If you wish to trade with Olymp Trade feel free to click on the button below the text.