Overview of Olymp Trade 2021
Olymp Trade is a broker that is equally suitable for both experienced investors and traders making only their first steps in the financial market, the company has been known since 2014. Registration and regulation of the company is an offshore zone of Saint Vincent and the Grenadines.
Access to assets is through a web platform, software for computers, it is also possible to work from a mobile device through an application. The company offers a wide range of assets to trade, including: Shares of major companies, commodities and raw materials, currency pairs, ETFs and, of course, the most profitable asset of recent years – cryptocurrencies.
Olymp Trade offers users the opportunity to trade the following assets:
Spreads differ depending on the account and the type of asset, e.g. for the euro/dollar pair – 1.1 pip. Premium account holders have narrower spreads, it should be noted that spreads can be changed depending on the market situation.
Swaps – the commission for transaction transfer to the following day – have the fixed value, but have the maximum level not exceeding 15 percent of the transaction volume.
Commission for service and maintenance of the account is not provided, but there are fees for non-use of the trading account over six months. The fee is $10 per month; if the balance does not contain the necessary amount, the account will be closed.
If a trader opens trades in the forex market, the company takes a commission fee depending on the market situation, the amount used, and the specification conditions. This information should be obtained from a customer service specialist.
Leverage in this company is flexible and depends on the type of account, traded assets and trader’s preferences.
There are several ways to deposit money: via bankcards Mastercard/Visa, bank transfers using the revisions of the company, as well as each client is given an account in cryptocurrency, to which he can deposit money either through cryptomat or other payment systems. Also, the company cooperates with Skrill and NETELLER. These methods are also available for withdrawal. It is important to consider that both deposit and withdrawal should be done in the same way. Payment processing at the broker side occurs in a few hours, except for bank transfers. Their processing can take up to 3-5 business days. There are no glitches or delays in withdrawal of funds. There is no commission for the account replenishment. The minimum deposit to activate an account and start trading is only 10 pounds, of course, this amount is not enough for full-time trading, but to open one trade is enough.
Demo account is available to every client who wants to test the platform features and trading strategies. The funds on the account are virtual and are credited by the broker automatically in the amount of 10,000 pounds. No difference in functionality compared to the real account was found. Registration takes a few minutes and does not cause any difficulties.
You can replenish your account in the following ways:
- Credit / Debit Card
- Bank transfer
Most payments are processed instantly, although bank transfers can take several hours. Deposits are commission-free and cost nothing (although your bank may charge you a fee to transfer funds).
The company’s website is loaded with an agreement on the bonus accrual and withdrawal policy and is silent on what subtleties exist in the withdrawal process and how the accrued bonuses will affect it.
Since the broker is not regulated by the European supervisory authority, there may be some relaxations in the bonus policy. For example, in Europe it is forbidden to trade using bonus funds, this is due to the complexity of regulating the withdrawal of funds that are attached to the bonus. Most often, a certain trading turnover is required, but it is an additional burden for a trader, especially without experience in trading.
Olymp Trade offers promo codes to newly registered market participants to receive a 50% bonus when making a first deposit.
Types of real accounts:
Standard account: these are comfortable conditions for novice traders, the minimum deposit is at the level of £10. Slots can be opened for amounts from £ 1 to £ 2,000. And profits can be withdrawn with any amount starting from £10. Spreads on this account are at the level of 1.1 point.
VIP account: For professional market participants we offer an account with a minimum deposit of £2,000. Every client is assigned a personal assistant and the maximum trade size is £5,000.
The customer service is at a good level and is available 24/7.
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