Trading platform Olymp Trade: full review of the broker + real reviews from traders

Hello, beginners and experienced traders! Today I have prepared for you a detailed review of another broker where you can earn additional income. Let's look at the Olymp Trade trading platform (olymptrade.com): what trading tools it has, pros and cons, bonuses and promotions; we read independent reviews from traders and much more. Go!

Attention! Russians are not allowed to enter the platform. Therefore, if you want, you can use the best analogues of Olympus (See at the bottom of the article).

Brief characteristics of the broker

Olymp Trade is a trading platform that has been operating since September 2014.

Official website – olymptrade.com. A convenient platform where you can trade on your computer and phone. The interface and platform options are adapted for any device. The company creates all conditions for full and convenient work.

It operates under the control of the International Financial Commission FinaCom PLC and is part of its membership.

The main focus of the company’s work is to create the most favorable conditions for online trading. Therefore, all discounts, deposits, and rates are tailored to this mission. But many people ask questions about making money on the site - is it a scam or not and how much can you trust this platform. Let's look at the main nuances of working at Olymp Trade and check the reliability of the broker ourselves.

Trading conditions:

1. The minimum deposit is $10.
2. The minimum bet is $1.
3. Accounts: demo, real.
4. Trading system: a unique Web terminal for this platform that does not need to be downloaded to your computer; MetaTrader 4.
5. Registration bonus – up to 100%.
6. Opportunity to receive income up to 92%.
7. 100+ assets.
8. 3 types of statuses: Starter, Advanced, Expert. More details in the video.

Stochastic

Another indicator that can be used when trading. There is no need to change the settings, leave them the same. Place the indicator on the chart and start tracking the parameters.

You can see oversold and overbought zones. How to work with these signals?

1. If there is oversold, then an increase is expected soon.
2. If it is overbought, a downward trend will begin in the near future.

Learn more in the RSI strategy on a trend reversal.

About Olymp Trade

The company continues to develop, introduces new ideas to make trading comfortable and profitable. There is a trading training service here so that beginners can confidently make money on Olymp Trade.

The staff includes international-level analysts who work on strategies that allow you to trade intelligently.

The company's emphasis is on reaching an international level, so training is provided in many languages.

Olymp Trade is a broker category “A” of the International Financial Commission. This is an honorary status that affirms the reliability and integrity of the company. You can also look at the awards that the broker has received during its existence.

Broker Awards

There is an active traders club where you can benefit from:

• communication, exchange of experience;
• training in correct and profitable trading;
• competitions and promotions, bonuses, risk-free deals, flagship gadgets.

Types of trading accounts

The broker provides accounts for training and real trading:

1. Demo account . You are given 10,000 bonus coins and you can practice your bets. Don't spend real money. Available in all languages.
2. Real – here you place bets based on your hard-earned money. Here you can test long-term strategies on small amounts.
3. There are 2 accounts for MetaTrader 4:

• ECN – there is a small commission for opening a transaction, the spread starts from 0 points;
• Standard – the spread is higher than on ECN, there is no commission for opening a transaction.

Registration / Login to the trading platform

Now let's look at how to enter the trading platform to start earning money. To do this you need to take several steps.

If you are now in Russia, then first go to the next section of the article, and then come back and read this one.

Step 1. Go to olymptrade.com and click on the “Login” button in the upper right corner.

Login to Olymp Trade

Step 2. Fill in your details: email, password and account currency. Click “Register”.

Registration procedure

Step 3. A window will appear with an offer to receive the first bonus - doubling the deposit amount. And a deadline is given - 1 hour. If you want, use it.

Bonuses immediately after registration

In the upper right corner you will see an icon for logging into your personal account. You can view information about your profile.

Profile information

I also advise you to immediately verify your account so that you can withdraw money without any problems. To do this, go to “Profile Settings” → “Account Verification” and do what they ask.

Successful account verification

What to do after the closure of Olymp Trade in the Russian Federation?

For many traders, a logical question arises: what to do now and where to go? To begin with, as I said earlier, it is better not to keep large sums of money with the Olymp Trade broker, because... there is a possibility of losing everything irrevocably. Personally, this broker has not inspired confidence in me for a long time, and for me, as a trader, Olymp Trade’s departure from Russia is a small holiday. I never started trading with this broker, and, as time has shown, I was not mistaken with this decision. The second thing that all traders who are already clients of Olymp Trade need to do is to very carefully follow all the news from the Binary Options broker. Remember that there is a high probability that you are sitting on a powder keg that could explode in an instant. But the broker is popular, works in many countries of the world - this will not allow him to quietly leave the market of any country (in this case, the Russian market). So stay tuned for news. Most likely, even if accounts are closed en masse, this will be reported separately. IQ Option, in addition to news on the website and on social networks, also had an email newsletter (several times), which stated that accounts would be closed. So keep a close eye on what comes into your inbox. Of course, we are only talking about official letters from the Olymp Trade broker.

UPD Since December 28, 2022, information began to arrive from various traders (citizens of the Russian Federation) that Olymp Trade completely reset the amount on trading accounts, and when trying to contact the broker’s technical support, the accounts were completely blocked! There is a high probability that other accounts of traders from Russia may be closed in this way, so I do not recommend keeping your funds with this broker!

Tools of the trade

The site offers a variety of assets for trading. They are divided into groups:

• Commodities: Brent, Gold, Platinum, Copper, Natural Gas, Silver;
• Shares of 37 companies;
• 11 indexes;
• 4 ETFs;
• 35 currency pairs;
• 10 cryptocurrencies.

You can see more information about assets in the “Assets” section.

Olymp Trade assets

Deposit and withdrawal of funds

Of course, to make money, you first need to top up your account, and after successful transactions you need to withdraw money. Let's figure out how to do this on site.

There are 2 ways to deposit money on Olymp Trade.

Method 1. Click “Top up” at the top right.

Proceed to replenish your account

Select the top-up amount and payment method. Click “Top up”.

Top up your balance

Method 2: Tap “More” → “Operations” on the left side of the screen. A new window will open.

Go to Operations

Select “Top up” in the top line.

2nd way to top up your balance

Select the amount, if any, enter the promotional code and click “Next”.

Go to payment methods

Select a convenient payment method and complete the replenishment procedure.

To withdraw money, click on the appropriate button. The following window will appear:

Withdrawal window

The advantages of this platform for withdrawing funds:

1. Applications are processed within 1 day.
2. No commission.
3. The maximum withdrawal amount is unlimited.

To withdraw money, be sure to verify your account! I wrote about this a little higher.

Divorce or not

You must understand that trading is a very risky activity in itself; it requires serious preparation. When a trader makes a trade, he needs some kind of analytical or technical advantage, and he cannot be right on every trade. Therefore, most complaints about manipulation of quotes are often unfounded or are only of an emotional nature.

Now regarding the withdrawal of funds from the broker's account. With a proper verification process, as well as compliance with the conditions established by Olymp Trade, problems will be minimized. In other cases, they can be resolved through technical support.

Bonuses and promotions

The company has provided motivators for novice traders in the form of bonuses. There are several of them, and now we will take a closer look at them.

• The first bonus is issued when you top up your real account for the first time after registration. Your account is doubled, with a maximum of $200 added.
• You receive the second bonus every time you top up your account.

Bonuses when replenishing your account

• You can also get discounts using a promotional code. But keep in mind that the period of promotional codes on the platform is limited. With one promotional code you can participate in the promotion only once.

Field for entering a promotional code

Trading training on Olymp Trade

Olymp Trade has several thematic courses for novice traders to explain as much as possible the principles of the first steps for trading. Each thematic block has subtopics. At the time of writing (09/21/2020), there are 15 thematic blocks in total:

1. Guide to Fixed Time Trades.
2. Forex Guide.
3. Trading Basics.
4. Technical analysis for beginners.
5. Learn to trade in 30 minutes.
6. How to read a candlestick chart.
7. Technical analysis for advanced.
8. Trend indicators.
9. Oscillators.
10. FX Strategies.
11. FTT Strategies.
12. Fundamental analysis for beginners.
13. Fundamental analysis for advanced.
14. Schedule.
15. Drawing tools.

If you are not satisfied with the topics that are raised on this site, you can undergo full training. Our blog has 20+ free and paid trading courses.

And also 18 best books on trading.

Advantages and disadvantages of the platform

At the moment, the Olymp Trade platform is one of the best examples of convenient platforms for traders. Over the years, key aspects of customer interaction have been improved:

• technical support;
• analytics;
• convenient and interest-free withdrawal of funds;
• bonuses when depositing money;
• personal consultations and participation in discussions;
• wide expiration period for contracts;
• a well-thought-out system of privileges and bonuses;
• profit up to 92%;
• using indicators and charts simultaneously;
• mobile application for Android and iOS;
• Olymp Trade work in many countries;
• insurance of traders' deposits;
• limits on risk bets;
• thoughtful verification.

Among the shortcomings: I would like a more convenient application on the phone. Robots are also not allowed. And, of course, the main disadvantage is the lack of opportunity to trade from Russian territory.

Moving averages

Let's look at several popular and effective strategies. Many traders use moving averages to predict trends in the market. How to work with them?

I recommend reading how to determine the trend direction on a chart.

Using the indicator, you can find out the average price value. To use it, open SMA and enter 60.

We draw two lines on the graph. One of them repeats the price movement, and the SMA 60 is higher or lower, depending on current trends. Additionally, set the expiration date to one minute and the timeframe to fifteen seconds.

When an intersection occurs, signals can be used to determine subsequent actions. Does the price line go below SMA 60? Then you need to bet on a decline. If it crosses it and moves up, then buy a call option. The strategy is relatively simple and understandable even for beginners.

How to set up the MA indicator is described in detail here.

Olymp Trade affiliate program

KingFin is an affiliate of Olymp Trade. To receive from 50 to 60% under the RevShare program, you need to take simple steps:

1. Register.
2. Bring clients.
3. Receive payments.

The affiliate program is suitable for bloggers, webmasters, SEO specialists, as well as people who actively manage social networks. You can also earn income by being a representative of a broker.

Statistics of my account in the Olymp Trade affiliate program

What services does it offer?

The main business direction of the Olymp Trade company is providing a platform for active trading using binary options. This type of financial instrument implies a digital contract that has pre-agreed conditions in the form of expiration time (execution of the option) and a fixed rate of profit.

In addition, Olymp Trade provides an opportunity to earn additional income through cooperation with the company through an affiliate program. This means inviting new clients through the use of special referral links from the broker.

Real reviews from traders

To avoid falling into the trap of online fraud, let’s analyze some reviews about this platform, how it works and whether it’s worth investing in it.

I’ll tell you right away about my impression. I liked the platform. Convenient, beautiful, no commissions. Lots of tools. It's nice to trade. The main thing is not to break the rules, and everything will be ok.

It is better to study reviews on independent, reputable sites. For example, on “Otzovik”. But you should also understand that a lot of negative comments are written by competitors. And the competition in this area is simply enormous. Therefore, the most reliable way is to check everything yourself.

I found some recent reviews. There are both positive and negative – as with all such platforms.

Dima Youdin is happy with “Olympus”.

Positive review about Olymp Trade

But sashats1 writes that Olymp Trade is a scam. Although why it is a “scam” is unclear. It is clear that if you give in to excitement, do not comply with “money management” and “risk management”, and do not follow your strategy, then you will always lose your deposit.

Neutral review of the platform

Japanese candles

Japanese candlesticks are one of the charting methods. You can enable them in a special panel. A number of rules need to be taken into account:

• It’s better to watch the candles themselves and not turn on the indicators;
• it is necessary to analyze their changes and gain experience.

Leave the TF for five minutes. It is necessary to clarify the presence of important economic news. If their release is not expected in the near future, then you can safely trade.

Now study the candles directly. Red – falling, green – rising. You need to look at the chart and look for trends when areas with candles of the same color appear.

How to place bets:

• when you have found a combination and successfully concluded a deal, proceed to search for the next one;
• if you lose, then increase your bet with odds of 3, 7, 16, 37, 85. That is, the parameter must be multiplied by these numbers.

Here is a strategy for trading using Japanese candlesticks.

The downside of the strategy is that you need to have a large amount in reserve to finally win. There are other representations of charting, including heiken ashi. The advantage of these options is the absence of price noise.

The best analogues of Olymp Trade

Today there are many trading platforms for traders. The lion's share of them are scams and scams.

But some of them are honest, transparent companies that are responsible for their reputation and value it. Let's look at the list of the best brokers for trading, which are rightfully analogous to Olymp Trade:

1. Binarium is one of the best brokers for trading in Russia, founded in 2012 (read the review on the blog).
2. FINMAX is a broker with a user-friendly interface and favorable conditions (read the review on the blog).
3. Intrade Bar is a good “transparent” broker for beginners with a clear interface and simple conditions for a trader (read the review on the blog).

These are similar sites that clearly compete with the Olymp Trade company and are its analogues. And most importantly, you can trade through them in Russia.