The company’s website is classy. Trades can find massive information from the home page of its website. The platform looks really seamless, simple and flexible, while the company has been working on strategies to make further improvements according to the needs of the clients. They have posted significant educational material on their website in the form of blogs and video tutorials. The firm also offers daily free webinars.
Its website can be used on any device, including web and the Android. The firm also offers unlimited demo account to traders to fully understand the trading platform. Demo accounts are always vital for new traders to see how they can carry out their trading strategies.
Is Olymp Trade a Scam?
Olymp Trade is not registered with any SEC authority. They have already placed the registration request and the firm is waiting for the approval. However, we cannot say that Olymp Trade is a scam, as it is not yet registered with SEC. The firm has obtained several other certificates. In 2016, they became a member of FinaCom and they are also registered with FMRRC.
Olymp Trade is also considered as A category broker amid its membership in the International Financial Commission. IFC guarantees an insurance of 20,000 Euros on each trade. Increasing client base and rising payouts are also demonstrating the higher level of services from the firm. Last month, more than 160,000 traders have used this platform to execute their trades.
User Friendliness and Platform Features
Traders love to see unique trading tools that have the potential to expand trader’s profits. Thus, several brokers have been trying hard to offer innovative trading tools, charts; software’s and signals to impress clients. In the case of Olymp Trade, its platform is simple and suitable for binary options traders. The company not only offers extensive educational material, they also offer demo account to test trading strategies.
Traders can create an account with as low as $1 and they can withdraw unlimited amount at any time. They also offer high payout and its payout rate has been gradually increasing over the last few months. The firm’s payout rate increased at an average of 7% every month, which is an eye-catching sign for traders.
Brokers usually offer traders to use a different type of accounts to trade different assets. In the majority of cases, brokers offer several of types of trades including Call/Put option or the High/Low and then there are Ladders and Pairs, 60 Second trades, Long Term and One Touch. However, in the case of Olymp Trade, they only offer one type of trade, which is the basic High/Low or Call/Put trade. In addition, there are only three types of assets that investors can trade on this platform.
Traders can open Standard Account with a deposit of $10. Their support team is strong and they love to give hints and trading strategies to traders in order to expand trading volumes. In the last month, the average size of trade was standing around $4,44 and the company has closed 21,681,503 trades last month. Its turnover was close to $96,270,277.
In the thriving broker’s industry, bonuses are taking key place in attracting clients. Several firms offer bonuses up to 100% on initial deposit, while other offer bonus depending on the nature of the account and their trading volume. However, Olymp Trade doesn’t offer any bonus to traders at any level. This might be because they have the low entry point of $1 only.
Deposits and Withdrawals
Its platform supports various methods to fund the trading account. These methods include credit card, debit card, skrill, and others. Olymp Trade has also been providing safe withdrawal methods to transfer funds back to the bank account. The withdrawal transaction could take up to 24 hours.
Although Olymp Trade is not yet registered with SEC, they have plenty of important certifications that show the broker is not a scam. They have membership in the International Financial Commission, which guarantees 20,000 Euros on each trade. Their platform looks quite suitable for new investors in the field of binary options. Its asset portfolio is small and traders have limited options to trade. However, the website is simple and user-friendly and the firm’s round the clock customer service and educational content can really help new traders to begin their trading career using Olymp Trade platform.