Olymp Trade
About the Company “Olymp Trade”
The brokerage firm known as “Olymp Trade” positions itself as a licensed entity specializing in offering trading services for more than 7 years. The team behind the project consists of seasoned developers, financial experts, and customer support professionals dedicated to providing traders with the most advantageous and comfortable trading environment. The official website of the company, olymptrade.com, supports 13 interface languages, including Russian.
Legal details regarding the company can be found on the website footer. The information states that Saledo Global LLC is the owner and managing company of the website, registered in Saint Vincent and the Grenadines. The project asserts that its operations are fully licensed in accordance with the laws of the registering country. However, there are no official documents on the website confirming the registration and licensing of the company.
The company emphasizes its affiliation with the Financial Commission (FinaCom), an entity that ensures transparency and fairness in client relations. Nevertheless, there is no visible evidence of the company’s membership in this regulatory body on the website.
Trading Instruments and Platforms Offered by “Olymp Trade”
The company provides the Olymp Trade trading platform, a proprietary development. This platform is compatible with all types of devices and operating systems. Some of the platform’s highlighted advantages include the ability to test financial instruments without incurring losses, access to a demo account with a $10,000 replenishment, customizable add-ons for convenient trading, personalized analytics for crafting an individual trading style, free training featuring ready-made strategies and video tutorials.
The primary instrument on the platform is binary options, allowing traders to profit by predicting the direction of an asset’s price. Traders can engage in the trading of various financial instruments such as currencies, stocks, metals, indices, commodities, cryptocurrencies, and other liquid assets.
Trading Accounts at “Olymp Trade”
The platform does not offer pre-set trading accounts. The minimum investment amount is $10/€10, and the minimum trade size is $1/€1/₽70. Users have access to an educational version of the account to assess the advantages of the trading platform. For inactive accounts left unattended for 180 days, a monthly commission of $10 or the equivalent amount in the chosen currency upon registration is levied. Customer support is available 24/7 through various contact forms.
Registration on the Platform and Commencement of Trading
To initiate trading, users must complete the registration process and create a personal account. Registration is straightforward and free, requiring only an email address, selecting the account currency, and accepting the terms of service. Subsequently, users can choose between a demo or real account type and begin trading.
The binary options trading process entails selecting an asset, determining the investment amount, trade duration, and predicting the price movement of the asset. The company also offers a bonus system for traders, allowing the use of promo codes to receive bonuses.
Account Funding and Withdrawal Processes at “Olymp Trade”
Depositing and withdrawing funds on the platform can be done via various payment services. Financial transactions are conducted without commissions and restrictions on depositing or withdrawing funds. The bonuses provided by the company are non-withdrawable and are nullified upon a withdrawal request. The minimum withdrawal amount is $10/€10. Further details on financial transactions can be found in the company’s help center.
Conclusion
An examination of the information on the company’s website reveals several questionable aspects affecting the platform’s reliability and prospects of use. These include the absence of a registration certificate and license, project anonymity, and the company’s registration in an offshore jurisdiction. To evaluate the earning potential and safety of utilizing the services, it is advisable to review authentic client feedback and opinions about “Olymp Trade”.
This review has been prepared by the specialists at ExpertsReview.