Olymp Trade is a young and ambitious broker. On the company’s website, clients are offered an unlimited demo account and quality training that allows them to understand how to make money on Olymp Trade starting from scratch. A license from the Center for Financial Markets and Markets and membership in the Financial Commission is a guarantee of the reliability and stability of the trading platform. So, how to make money on Olymp Trade? The system for generating income is the same for all brokers - this is the correct forecast of the price of the selected asset, the purchase or sale of binary options.
Brief overview of Olymp Trade
Binary options - concluding a transaction on a trading asset. Each trader chooses the price of the asset and the term. After the deadline passes, the one who was right receives a monetary reward from the one who was wrong.
Binary options have become popular due to their simplicity and active PR. Many people thought that they could “guess where the charts will go” and get real money for it.
And the excitement still hasn't subsided. There are new brokers, new methods, trading strategies and companies that promote them. One of the relatively new companies is Olymp Trade.
Binary options are a real trading instrument. It can be traded on the Chicago Currency Exchange or through brokers registered in Cyprus. But Olymp Trade has nothing to do with official trading.
That is, it is not an intermediary, in the usual sense of brokerage. You trade on company accounts. This means that every loss you make is a profit for the company. Every victory is a loss.
It turns out that you are playing against the company. She is interested in users losing. True, not explicitly. You just need to constantly increase the influx of new players. The more newcomers, the more money ends up in the company. And as beginners learn, they become more self-confident and lose increasingly large sums.
The company is registered in the Seychelles, which is an offshore.
Such registration allows you to hide the real owners, evade taxes, and even if something happens, simply liquidate the organization.
Olymp Trade is a member of the Center for Regulation of Relations in Financial Markets. It sounds solid, but in reality, it is nothing more than another organization created by Forex kitchens. A broker who has paper from this firm is no different from a broker who does not.
Olymp Trade is a member of the International Finance Commission. In words, it sounds something like this: clients have the opportunity to return up to $20,000 in case of dishonest actions on the part of the broker. In reality, everything is a little different. The actions of this commission have long raised questions.
The number of cases considered against clearly fraudulent brokers is from 100 to 200. The companies win the appeals in 60% of cases.
However, contacting this commission is one way to get your deposit back. The only problem is that you will need to prove ownership of the account and the company’s guilt in the fact that you cannot withdraw funds. It's really difficult.
What we have in summary: the company is registered offshore, unknown owners, no official European license, works with the Center for Financial Markets and the International Financial Commission - two companies with a tarnished reputation and controversial decisions.
How to trade correctly and win from scratch
Work on the trading platform begins with registration and opening a personal account. To get acquainted with the terminal and tools, the broker invites the user to open a virtual account. It only takes a few minutes and all you need is a valid email address and mobile phone number.
Registration on the platform
Next, you need to identify your trading account. It can be done immediately, before the first replenishment of the account, or it can be postponed until the first withdrawal of profits. The verification page is located under the “Profile” tab in your personal account. Here you can read the client agreement, details of confidentiality.
Account identification
To confirm that the account belongs to the trader, you need:
- a copy of the client’s passport or other identification document, on which the photograph and text are clearly visible;
- a selfie with an open passport, which must be kept next to your face;
- a scanned copy of the main page of the identified electronic wallet or personalized bank card on both sides (for security, you need to cover the middle digits of the number and the code on the back with a strip of paper).
Account replenishment, profit withdrawal
Documents are sent through your personal account to the security service, and their verification takes up to five days. If copies do not download, or you have questions, our support team will help. To replenish your account or withdraw money, you need to open the appropriate tabs in your personal account. Under each of them there is a list of available options for transferring funds.
After selecting the type of operation, you need to go to the next tab and decide on the option for transferring money.
Financial Transaction Options
You must withdraw money using the same method you used to top up your account.
To start trading, you need to decide on the asset, expiration time, and option value. The asset is selected on the left side of the chart, the remaining operations are performed to the right of it.
Add or remove an asset
On the same chart, you need to go to the right half and set the transaction parameters.
Selecting transaction parameters
By pressing the green button, the trader buys the option, and the red button, sells it. Most assets are available from Monday to Friday. On weekends, the choice of instruments is limited to cryptocurrencies. On Monday, as markets open, available instruments are added and payout percentages for successful transactions increase.
The BO trade is closed when the time period selected by the trader expires. Profits are instantly credited or losses are written off. The broker offers interesting work options:
- selling a losing option;
- opening a break-even transaction (for VIP clients).
A losing option can be exercised for 5-7% of the initial cost. You can work with a risk-free transaction with options that cost less than a thousand rubles.
An improved version of the trading terminal, launched in 2022, gives the trader the opportunity to simultaneously open orders on Forex. Or, for example, you can trade on a real account and try out a new strategy on a virtual one. Switch from one account to another with the click of a button.
Switch between accounts
Ways to make money on OlympTrade
The main product of Olymp Trade is binary options. The essence of binary options on Olymp Trade is the same as everywhere else:
- Choose a currency pair.
- Make a forecast based on the current schedule.
- You make or lose money.
You can repeat this algorithm either until you run out of money or until the trading session ends. A very simple way to make money, but extremely risky.
Even if you are right 50% of the time, you will still lose. To make money regularly, you need to correctly predict about 60 - 65% of transactions. It is almost impossible for a beginner to rise from the minimum.
The most profitable way to make money on Olymp Trade is the affiliate program. After IQOption safely left the Russian market, the leadership in terms of advertising volumes on the Internet passed to Olympus. It's all about a good affiliate program.
On average, you receive up to 60% of the broker's profit. And this is quite a significant amount every month. Moreover, newcomers who come to play come back after some time and make a profit again.
It is this kind of big income that has given rise to a huge number of “Ruble Traders”, “Millionaires at 15-20 years old” and young girls who sit in front of the camera and trade using martingale on an endless demo account. They don’t know how to do anything, they don’t have money, they don’t earn money, but at the same time, they tell you how to make money. Don't watch these videos.
If you want to become an Olymp Trade partner and earn money with minimal risks, you need to participate in the affiliate program.
Creating a referral link takes place in 4 stages:
- Registration on the site.
- Go to the “become a partner” field.
- Filling in all fields.
- Receiving a referral link and advertising materials.
Advertising materials, of course, are not of very high quality, but nevertheless they will help attract several customers. The affiliate program is the most reliable, profitable and interesting way to earn money in Olymp Trade without investment.
Participation in webinars
Gaining knowledge about trading does not end with completing a training course. To earn a permanent income, you need to continue your education constantly. And the Olymp Trade company offers a unique opportunity for this - webinars.
Olymp Trade broker analysts conduct daily webinars that cover the most pressing trading issues. Participate in them and use the knowledge you gain for real trading. Then most of your trades will definitely be profitable.
Among the latest topics offered for study in webinars, the following are relevant:
- Hot financial news and how to use it to make a profit;
- Trading systems and their role in making a profit;
- Trading within the price trend;
- “Perfect Turn” strategy.
You can always look at the calendar on the company’s website for the topics of upcoming webinars and schedule your participation in them.
How to work on Olymp Trade
If you still want to make money on binary options, then let's figure out what interesting things Olymp Trade has to offer.
The minimum deposit amount is 350 rubles. If you deposit more than 2,000 rubles, then bonuses are additionally transferred to your account, from 10 to 50%.
I recommend replenishing the minimum amount of 350 rubles or taking 5,000 or more. Intermediate options are unprofitable.
The number of currency pairs is 10. Not as many as we would like, but not as few as it could be. In fact, this is a normal number for beginners, of whom there are the majority on Olim Trade.
The return on options is floating. That is, depending on the volume of successful transactions on a currency pair, it changes to + or -. Low incomes can be waited out, but high ones come often. Maximum income - 80%.
The trading terminal itself is also quite simple. No extra buttons or windows. There won’t be enough tools for an experienced trader, but just right for a beginner. There is something to practice on.
There is an application in the AppStore. But I don't recommend using it if you're not at home. Trading from a phone is inconvenient; it is not possible to use most instruments correctly. Better in PC browser.
A VIP account (deposit 100,000 rubles) provides additional opportunities. In addition to consultations and training, you can get maximum income with a 10% increase. If it says 80%, you'll get 90. The difference is only 10%, but over the long haul it's an impressive number.
For beginners, there is a section with educational materials: strategies, indicators for entering trades and webinars.
The first two sections can be studied carefully. This is useful. But webinars are just something with something. To find an interesting video with a good speaker, you will have to work hard. They talk about everything, but “in theory.” From the category “armchair expert”, who just read the speech yesterday, prepared and sometimes does not understand what he is talking about.
Let's summarize. The interface, training, profitability, analysis tools - all this suggests that OlymTrade’s target audience is beginners. Experienced players are not needed here. Yes, they won’t be able to earn much. A contribution of 500,000 rubles will not be enough for an experienced trader.
Is it worth trying to make money on Olymp Trade?
If you want to make money from binary options but don't yet know how everything works, then Olymp Trade is the best option. Having taken IQOption's place in the “for beginners” segment, the company makes training programs, advertising and takes care of its reputation. In the next few years, this company should become one of the leading ones for its target audience.
The only problem is that binary options and brokerage companies in Russia are perceived as an attempt to make money here and now and nothing more. At one point, each broker can “leave the game.”
That is why working even with the most famous companies carries risks. If you are ready to take risks when working with brokers, and then when making money on binary options, then this is really yours. With talent in trading and analytics, you can earn big money.
But there is an alternative. A more reliable, interesting and profitable affiliate program.
It's better to make money through an affiliate program. If you know how binary options work, and even know how to make money on them, then it’s better to attract new users. Train them, tell them secrets and get money with them. But it will work if you have a good traffic source or arbitrage skills.
Developing your own strategy
Initially, almost all traders use popular strategies. But with experience, experts still recommend creating your own profitable strategy. You can use existing methods as a basis, just adjust them a little.
If you do not focus on creating your own strategy, then “profitable” periods will be replaced by “unprofitable” ones, and the desire to make money in the financial market will gradually disappear. The trading strategy must be tested in practice, so it is necessary to actively use a demo account. It is advisable to test a new strategy for at least 2 months, taking into account fundamental analysis.
Reviews
Searching for reviews using binary is really difficult. It seems that people are divided into two camps: the whining losers who didn’t succeed, and the enthusiastic hamsters who succeeded. It is true that some and the other have nothing to do with the real state of affairs. I have selected for you a couple of real reviews about trading on Olymp Trade.
Review #1
Review #2
As you can see, people agree that Olymp Trade is one of the best options for the Russian binary options market.
How to tell if reviews are true
If you see something like “The chart jumped at the last moment” and “I enter a trade, it freezes, and then the moment has passed,” then immediately forget about such opinions. These are the stupidest words that people can say to justify their own losses. Let me explain why these words are complete nonsense.
“The schedule jumped at the last moment.” This is normal. Charts depend on trading on the exchange. And if someone buys/sells an asset, then the chart jumps. And we, purely psychologically, notice mainly failures, concentrating on them. When the “graph jumped” in your favor, this is your strategy. When it’s against you, it’s a twist.
“I entered a trade, froze, and when I froze a second later, I missed the moment.” In the past, well-known brokers were often accused of this. So far, people have not been clearly explained to a simple fact: there is a certain time for data exchange between the server and the computer. And at times of peak load it is less. This means microlags happen. No one is immune from this.
A truthful review about a broker will include:
- Account information.
- Screenshots.
- Payments (if there is a problem with payments - screenshots from technical support).
- Clear claims.
Disclaimer
The effectiveness and reliability of the strategies described above are also based on the expectation that the broker will fulfill its obligations absolutely honestly, that is, will withdraw the funds earned. However, this is not guaranteed due to offshore jurisdiction. The option of stopping payments for a specific reason is not excluded. A similar example can be recalled with the broker FOREX MMCIS group, bankruptcy, or, more precisely, betrayal of which no one expected. At the same time, financially, Olymp Trade is probably on stronger feet. But a broker can quickly go out of business due to possible changes in the legislation of offshore zone states.
