Are you learning about Olymp Trade? You are wondering whether to join and make money from this platform, aren’t you? You want to know the objective review about Olymp Trade? If you are in that situation, then this article is right for you.
In this article, I will focus on 2 following things:
- Overview of Olymp Trade. A detailed review of accounts, applications, experiences, deposits, and withdrawals in Olymp Trade.
- The only way to win in Olymp Trade trading.
I have presented a lot of proofs to prove that Fixed Time Trade is not a scam and so is Olymp Trade. You can review these articles here:
- Fixed Time Trade is not a scam. It is accepted worldwide.
- What is Olymp Trade? Is Olymp Trade a scam or reputable? What is the proof?
Therefore, this article will not repeat the concepts of Olymp Trade, Fixed Time Trade, or Forex. We only focus on one thing: Review on Olymp Trade.
Commitment: All reviews on the Olymp Trade trading platform are correct. The attached red links can prove it.
“If you don’t know exactly what you’re getting into, it’s best not to participate.”
Basic information provided by Olymp Trade
There are some advertising samples about Olymp Trade that you may know. This is an online trading platform that was established in 2014 with more than 6 years of existence and development. More than 25,000 traders worldwide are participating in making money every day here. It is certified as a category A broker by the International Financial Commission.
You can review the introduction about Olymp Trade at this link: https://olymptrade.com/about.
So are the above things correct? Or are these just advertisements from the platform? Let’s go together to verify and evaluate.
You can use the Domainr.com website to check the olymptrade.com domain registration date. It was originally founded in April 2014. There are email and phone number which were clearly registered. Detailed link: https://domainr.com/olymptrade.com?q=olymptrade.com.
Similarweb statistics show that: Each month, an average of 11 million people visit olymptrade.com. It is equivalent to 367,000 visits per day. At the same time, these visits come from many places around the world. You can review it at this link: https://www.similarweb.com/website/olymptrade.com.
Finally, it is the operating certificate of the Olymp Trade trading platform. We can check it out at the International Finance Committee website here: https://financialcommission.org/olymp-trade/.
Above is some basic information about Olymp Trade. They are verified to be accurate and consistent with what the platform has provided.
Detailed review on Olymp Trade trading platform from A to Z
Olymp Trade account
Signing up for Olymp Trade is very simple. You only need 1 email and 1 phone number. You can create an account for yourself using the login link below.
In Olymp Trade, there are a total of 5 different types of accounts. They are used for very different purposes. You can review the comparison of account types in Olymp Trade through this detailed link: https://howtotradeblog.com/olymp-trade-accounts-for-beginners/.
Type 1: Demo account
Every broker offers a Demo account. They are used by traders for the purpose of familiarizing themselves with the interface, testing new strategies, etc.
Olymp Trade is no exception. Demo accounts have $10,000 for free trading and are full of support tools like real accounts.
Type 2: Starter account
In other words, this is an account type for beginners. You only need to deposit $15 to start earning money in Olymp Trade.
With a minimum deposit of $15, you can experience trading on a real account in Olymp Trade. This is enough for you to learn how to manage your emotions in trading. The most important goal of a beginner is to keep the money. Never let your account burnout.
Type 3: Advanced account
The minimum deposit for this account type is $500. It is suitable for those who already have a complete Olymp Trade trading strategy. And that’s when they start thinking about making money in Olymp Trade.
Type 4: Expert account
The minimum deposit is $2000. Olymp Trade announces as follows: This is the account type for experts. These are people who see trading as a channel to make a daily living – aka Day traders.
With this type of account, you will become an Olymp Trade VIP. Naturally, it will come with a lot of privileges such as quick depositing and withdrawing, risk-free transactions, free trading signals, etc.
Type 5: MT4 account
This type of account is exclusively for trading on the MT4 application of the Olymp Trade platform.
MT4 is the most professional and reputable Forex trading platform worldwide. And currently, it has been integrated into Olymp Trade.
Verify your identity in Olymp Trade
Account verification in Olymp Trade is complicated and very time-consuming. In order to trade, deposit, and withdraw money, you must provide a lot of different personal records. For example, Personal information (Passport, National ID, Driver’s License). Proof of residence place (bank account statement, utility bill, etc.). Or proof of your payment method (e-wallet, bank card, etc.).
Despite the commitment to information security, obviously, the terms of authentication will cost you a lot of time.
Available Olymp Trade app
It offers an online trading website which is Olymptrade.com. Besides, you can also trade via a lot of applications on smartphones (android, IOS, etc.). Or you can download them to your PC or laptop with multiple operating systems (window, MacOS, etc.). Here is the link to download: https://olymptrade.com/download
Experience trading in Olymp Trade
Fixed Time Trade
This is considered the most prominent point of the Olymp Trade trading platform. And in fact, it is. For Fixed Time trading, you have 2 choices: (i) an expiration time period or (ii) an expiration time point. Most other brokers give you only one choice, which is the expiration time.
- The expiration time period
You can understand it simply as follows: You can choose a certain expiration time period. It can be 1 minute, 5 minutes, 1 hour, or even several days. Then, open an order to predict whether the price will increase or decrease during this period.
- The expiration time point
This means: You choose an expiration time point in the future. Then, open an order to predict whether the price will increase or decrease at that point.
Like other current Forex trading platforms, Olymp Trade fully offers features that make it easy for traders to trade. For example, there is an MT4 analysis platform with a full range of technical analysis indicators, synthesizing news impacting the market.
Asset price fluctuations
For Fixed Time Trade platforms, the price fluctuation is one of the issues of great concern. Fast fluctuations in a short time may turn winning orders into losing ones.
In Olymp Trade, prices are strictly controlled by a reputable 3rd party that is Verify My Trade Execution Certification. Each week, they will test 5000 random orders from traders. If there is an unusual problem, they will forfeit the operating certificate and mark the platform as a scam. You can see the certificate at this link: https://www.verifymytrade.com/badge/cdedb450-3541-49aa-8776-df73584b6dd7
In particular, you can check for yourself the details of exchange rate fluctuations in Olymp Trade at this link: https://olymptrade.com/cabinet#tab=rates
Deposit in Olymp Trade
Compared to some other platforms, Olymp Trade allows a minimum deposit of $15 and the minimum amount for each trade of $1. This is a very small number for you to participate in making money in Olymp Trade.
Olymp Trade offers 3 main deposit methods: Online banking from local banks, Visa/MasterCard, and electronic wallets. Each method has its own advantages and disadvantages.
– With online banking, depositing is very quick. But you need to have online banking accounts at the banks that Olymp Trade is affiliated with. At the same time, the exchange rate for converting into USD is relatively high.
– With Visa/MasterCard, the reload fee is relatively high. At the same time, you most likely lose some personal information within the card.
– E-wallet is one of the best intermediaries that you can use. Olymp Trade cooperates with two major partners which are Neteller and Skrill. So you can deposit fast and safely.
Withdraw in Olymp Trade
This is the key to making a reputable platform. Can you really withdraw the money or not? And how long does it take for the bank to credit your account?
Answers: It depends on the type of account you are using, on the method of depositing, and on the fact that whether your account has been verified or not.
– VIP account: This is the most advanced account type of Olymp Trade. Therefore, the platform gives priority to it. The deposit and withdrawal are always processed quickly. Usually, within 24 hours, the withdrawal will be successful.
– Withdraw money to e-wallets: This deems to be the best withdrawal method of the current Olymp Trade. Within 12 hours, the money will show up in your e-wallet. The remaining 2 methods of withdrawal are Visa/MasterCard and online banking. The time it takes for your money to be credited to your bank account will be relatively long. Sometimes, it takes 3-5 business days.
– There are accounts that are suspected of money laundering by Olymp Trade. They will force you to verify your identity and provide documents to prove. This verification can sometimes take up to 2 weeks. Then you can proceed to withdraw money.
One of the biggest disadvantages of the Olymp Trade platform is withdrawal. It takes a lot of time for traders to receive money in their bank accounts.
Olymp Trade also provides some explanations as follows: This is an international trading platform, controlled by reputable financial institutions. They need to clarify the source of money. So the money transfer also takes a lot of time. But most importantly, they never scam or lock any customer account out.
Olymp Trade support
Support service deems to be the current strongest strength of Olymp Trade. In addition to supporting traders in the process of transactions, deposits, and withdrawals, they also support with knowledge and experience through seminars, or with online sharing from their experts.
The support team has brought many awards to Olymp Trade in recent years. You can verify it yourself at the ranking of Fxdailyinfo. Detailed link: https://www.fxdailyinfo.com/best-forex-brokers.
The only way to win in Olymp Trade trading
The only formula to win: Only open orders with high winning probability which you are willing to trade with your own money.
To make things easier to understand, you need a trading strategy with high winning rates. Along with that are the patience and the discipline to strictly follow that trading strategy.
Image of a professional assassin
This is the most classic image to talk about traders. You want to earn money, don’t you? Turn yourself into a professional assassin. I will tell you about that assassin.
He was born without emotions, without relatives, and without friends. He was trained to do only one thing that is hunting people. Moreover, he is cold, definitive and his gun skills are extremely proficient. And what sets him apart from the rest is his professionalism. Before the hunt, he spends most of his time observing his prey to understand his prey preferences and habits. He prepares everything carefully. He chooses the location and time to take down the prey most accurately.
When he brings his target into sight, his breathing becomes slow and steady. He slowly opens the safety latch, thrusting his hand into the trigger. He holds his breath and pulls the trigger. Bang! Only one shot, he gets up and leaves immediately. Not once does he smile when taking down his prey successfully? Because it is a very simple and ordinary thing.
Trading in Olymp Trade is the same, most of the time, you just sit and watch. You wait for an opportunity with the highest probability of winning. The market will always repeat. As long as you’re patient, the opportunity will surely come.
Image of a Poker player
All the top poker players know that this is not a game of gambling but a war of minds. The winner is not the most adventurous one or the player with the best poker playing skills. More precisely, the last man standing is the most patient, the most disciplined who manages his money in the best way. I will tell you about a poker guy I know.
He understands the principle of playing poker very well. It takes a few rounds to get good cards. His main strategy is: (i) Focusing on good cards and (ii) Focusing on the last minutes when the opponent is losing patience. Therefore, most of the time, he watches and plays around with his opponents waiting for good cards.
When the opportunity comes, holding good cards in his hand, his face shows no emotion at all. He slowly puts in the money and carefully observes the opponent’s expression. That’s right! Who knows the opponent’s card is good or bad? As long as he feels unsafe, he immediately discards and thinks about the new round. But if the opponent, who is a noob, seems to flinch and expose an opening, he will immediately “butcher” the prey.
He once told me that the pinnacle of gambling is knowing when to stop. And I also completely agree with this view in trading. Stopping does not mean giving up. It is to stabilize emotions. It is to keep the money safe. And most important, it is to wait for better opportunities.
One last word
Through the 2 images above, I want to send you a few messages.
- Trading is not a place for emotions.
- The only thing you need to practice is patiently observing and doing nothing.
- Every strategy has a certain probability of failure, but it is important that you keep your money safe. The market will always repeat. There is money, there will be a chance.
I would like to repeat 1 more time. Enter a trade with a high winning probability which you are willing to trade with your own money. This game is for people with strong personalities, who are consistent and strict with themselves. And the strategy is only a very small part that affects the result.
Hopefully, through this Olymp Trade review, you know what you need to do in Olymp Trade. I’m Flash – I’m from the Vietnamese Olymp Trade community.