Olymp Trade was founded in 2014 and offers “seamless and lucrative” trading experience to their clients. They continually evolve as a financial service provider by adapting to the fast changes in the industry and improving their trading services. They create their own strategies and list them all on their site, allowing the public to access them for free.
They have garnered various awards from respected bodies for their services. Some of these awards include: Best Financial Broker by CPA Life Awards 2017 and Best Trading Platform by the Forex Awards 2018.
Note: Olymp Trade does not offer services in these jurisdictions: USA, UK, Canada, Japan, Israel, Australia, and Europe.
Olymp Trade Regulation and Security
Olymp Trade is under the company Inlustris Ltd. They are licensed to operate in Saint Vincent and the Grenadines under the regulations of the International Finance Corporation.
Since this broker is only licensed under one jurisdiction and regulatory board, its legitimacy has been questioned multiple times. But despite the numerous allegations, Olymp Trade proved that it is not scamming traders. Also, there haven’t been any serious accusations about the illegitimacy of the broker.
To further prove its safety and security as a broker, Olymp Trade has registered with The Financial Commission, which is an external dispute resolution that resolves problems in forex-engaged brokers.
Olymp Trade Platforms and Tools
Olymp Trade developed its own platform equipped with features that fit with the customer’s needs and the company brand. Their platform supports various languages, including English. But the platform itself was designed specifically for Russian traders.
The Olymp Trade platform is available in desktop, web, and mobile versions. It has a user-friendly interface that is straightforward and efficient. The platform cuts all the unnecessary features, and gives the traders exactly what they need. It does not incorporate too many features that are rarely used by the traders or in some cases, unimportant. This platform sticks with the essential tools and indicators that help both beginning and pro traders advance their trading careers.
Among the efficient features of the platform is the customizable graph that tracks price changes in the market. Traders can choose which features or data to highlight above others.
Olymp Trade Account Types
Olymp Trade offers two account types:
- Standard – this account type requires a minimum deposit of $12. Spreads can be as low as 1.1 pips and the leverage is 1:400. Basically, this serves as the beginning account of most Olymp Trade clients who are still in the process of developing their own trading skills and strategies. With this account, they can participate in the market with minimal risk and put theory into practice.
- VIP – the minimum deposit for the VIP account is $2500, which is significantly higher than the Standard account. The leverage is also 1:400 but it comes with personal assistance from a financial expert. This account type is recommended for expert traders who make trading more than just a hobby or a pastime.
Note: Olymp Trade also offers a demo account to let potential clients trade risk-free. This demo account is free and Olymp Trade provides all necessary features and functionality needed by beginning traders.
Olymp Trade Research and Educational Materials
Olymp Trade has various unofficial sites that are filled with numerous trading strategies and materials. All of this information is available to the public for free. They have various blogs where Olymp Trade’s trading experts discuss strategies and indicators, as well as how to use them in particular circumstances. These blog articles are well-detailed. They included charts and graphs to show the advantages of each strategy.
Olymp Trade also has a full publicly accessible list of archived webinars where their experts discuss trading in various markets. They also have step-by-step tutorials on basic trading knowledge such as: setting a stop loss or take profit, opening positions, and executing orders. They also discuss basic trading terminologies such as bull and bear markets, spreads, and leverage.
Olymp Trade Final Review
Since it was founded in 2014, Olymp Trade has expanded its services and garnered awards for its competitiveness in the industry. Its reputation has attracted tens of thousands of clients that continue to subscribe to their services. They have a clean track record and had received a number of awards to prove their legitimacy. Being awarded the Best Financial Broker by a respected body only adds to the reasons why it is highly respected in the trading industry. This broker only continues to grow and will do so for many more years to come. Right now it is expanding its services to reach more traders across the world.