Hello everyone, today I will tell you about one of the most popular binary options brokers, Olymp Trade.
You can ask any trader, and he will definitely say that he has heard about this company. Moreover, the opinions will be completely opposite, but it will be all the more interesting to conduct this research.
In the article I will analyze all the ins and outs of this brokerage firm, show the nuances of the organization’s services, how to use their services, and also what you should pay attention to. In addition to the technical side, I’ll look at the reviews of people from different sides of the financial barricades.
In general, everyone who reads this article will have a complete understanding of what Olymp Trade is. So go ahead, it's time to form an opinion about this broker.
About the broker
| Name | "Olymp Trade industries LTD" |
| Year of foundation | 2014 |
| Regulator and license | "The Financial Commission" |
| Reliability | "A" Financial Commission |
| Available assets | Crypto, securities, raw materials, currencies, indices. |
| Trading platform | Individual software "Olymp Trade" |
| Minimum deposit | 10 dollars or 300 rubles. |
| Head office address | James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building, Saint Vincent and the Grenadines |
| Official site | https://olymptrade.com/ |
| Hotline number | 8-800-555-45-62 |
| Types of support | Hotline, online chat, email, FAQ |
| Free demo account | Eat |
| Minimum commission | 0 |
| Rating | 7/10 |
Money management and its features
It is necessary to study strategies and select among them effective ones for specific parameters . But in parallel, the formation of your own financial management system is also required. It is important to learn how to manage your funds to reduce the likelihood of losses.
Determining the right amount to invest is an extremely important skill that should not be underestimated.
Each trading system involves a variety of transactions that can end in both victory and loss. In order not to immediately lose almost all your money, you need to approach the choice of investment amounts wisely.
Now any video lesson on Olymptrade dedicated to financial management can be incredibly useful.
There, in a visual form, professionals talk about how to place bets correctly, select sizes and other details. To trade, you need to choose the right amount of investment. It is advisable to spend no more than a twentieth of your total capital at a time. This will allow you to trade wisely and avoid impulsive trades, which often lead to losses.
Brief history of the broker and awards
Olymp trade as a broker began its activities in 2014, and in a fairly short period of time gained great popularity among binary options traders. Success was achieved largely due to its own good quality trading platform, as well as support and a high level of customer loyalty.
Hurry up to take advantage of the doubling of the tax deduction until December 31, 2022.
According to the company, now there are about 250 thousand active users in Olymp Trade, which provide a trading volume of $170 million. Over several years, Olymp Trade has received a number of high-level awards, for example, the title of best financial broker from the CPA Life Awards 2017. The associations “Le Fonti” and “The Forex Awards” recognized Olymp Trade as the best interactive trading platform in 2022 and 2018. And the “IAFT Awards” awarded Olymp Trade first place in innovation among brokers. This is by no means an exhaustive list of the company's awards.
Binary Options Brokers - the best replacement for Olymp Trade
Advertising of the broker on various platforms and websites will continue for a long time - from half a year to a year (or even more), but users from Russia will not be able to register with this Binary Options broker. What to do in this case? Nothing special - just like after IQ Option left the Russian market, you still have several very good Binary Options brokers to choose from.
Binary options broker Intrade Bar
INTRADE.BAR is a relatively new Binary Options broker with an excellent reputation and Trading View trading platform. Broker website: https://intrade.bar
Broker advantages:
- Trading View trading platform
- No account verification
- Stable and very fast payments
- Availability of demo account
- The minimum deposit amount is only $10 or 500 rubles
- The minimum transaction amount is $1 or 50 rubles
- You can have two trading accounts at once: in USD and Rubles
- Stable return on assets from 77% to 84%
- Excellent reviews from traders
Binary options broker Binomo
Binomo is the leader of our tops, according to users. The trading platform is very convenient and allows for full technical analysis. The broker itself is a direct competitor of the Olymp Trade broker. Broker website: https://binomo.com
Broker advantages:
- Own trading platform
- Stable payments throughout the day
- Availability of demo account
- The minimum deposit amount is only $10 or 500 rubles
- The minimum transaction amount is $1 or 100 rubles
- The trading account is selected upon registration
- Return on assets from 67% to 94%
- Excellent reviews from traders
Binary Options Broker Pocket Option
Pocket Option is a very good Binary Options broker. It has its own trading platform, a tool for copying trades, and a lot of bonuses. Broker website: https://pocketoption.com
Broker advantages:
- Own trading platform
- Stable payments within 24 hours after approval of the withdrawal application
- Availability of demo account
- The minimum deposit amount is only $50
- The minimum transaction amount is $1
- Trading account in USD
- Return on assets from 50% to 96%
- Copying trades of other traders
- Lots of bonuses
- Trading tournaments
Binary options broker Binarium
Binarium is a broker with a very functional trading platform that allows for complete technical analysis of charts. The broker is more focused on transactions from 15 minutes - their profitability is higher than on turbo options. Broker website: https://binarium.com
Broker advantages:
- Own trading platform
- Stable payments throughout the day
- Availability of demo account
- The minimum deposit amount is only $10
- The minimum transaction amount is $1
- Return on assets from 67% to 94%
- Good feedback from traders
- Trading room (signals)
Binary options broker FiNMAX
FiNMAX is a reliable Binary Options broker. But the trading platform is not for everyone. There are no problems with it, but technical analysis cannot be carried out on it - you need an MT4 terminal or any other tool for analyzing price charts. There are no problems with payments, and there are no bad reviews about the broker. Broker website: https://finmax.com
Broker advantages:
- Own trading platform
- Stable payments throughout the day
- Availability of a demo account for 7 days
- The minimum deposit amount is only $10
- The minimum transaction amount is $1
- Return on assets from 67% to 120%
- Excellent reviews from traders
Binary Options Broker Binary
Binary is the choice of a large number of Binary Options traders. The broker has existed since 1999 and has already reliably established itself as a very honest and stable BO broker. The trading platform is not suitable for everyone, but otherwise there are no problems. Broker website: https://binary.com
Broker advantages:
- Own trading platform
- Stable payments throughout the day
- Availability of demo account
- The minimum deposit amount is only $10
- The minimum transaction amount is $1
- Return on assets from 67% to 94%
- Several types of options
- Excellent reviews from traders
- The choice of many traders
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.
Content
- Olymp Trade stopped working in Russia
- The real reasons for Olymp Trade leaving Russia
- What to do after the closure of Olymp Trade in the Russian Federation?
- Binary Options Brokers - the best replacement for Olymp Trade Binary Options Broker Intrade Bar
- Binary options broker Binomo
- Binary Options Broker Pocket Option
- Binary options broker Binarium
- Binary options broker FiNMAX
- Binary Options Broker Binary
Terms of service and tariffs
| Account types | Virtual, standard, VIP |
| Minimum bid | 30 rubles/$1/€1 - for a standard account 100,000 rubles/$2000/€2000 - for a VIP account |
| Maximum bet | RUB 150,000/$2,000/€2,000 for a standard account RUB 400,000/$5,000/€5,000 for a VIP account |
| Bonus | 100% of the deposit replenishment amount is credited when registering a new account |
| Payouts (% of bet) | Up to 82% for a standard account Up to 92% for a VIP account |
| Expiration time | From 1 min to 60 min. |
| Deposit currency | Rubles/usd/eur |
| Withdrawal fee | No |
| Deposit and withdrawal methods | Bank cards Visa or Mastercard, QIWI, Yandex.Money, WebMoney, NETELLER, Contact 24, etc. |
mobile version
Traders who do not always have the opportunity to be near a computer can now trade on smartphones and tablets. The application can be installed on devices with operating systems Android, iOs, Android, Webmobile. The version is thought out to the smallest detail and has all the necessary functions for successful trading.
Software and mobile trading
Olymp Trade produces an interactive trading terminal, which has built-in various indicators and analytical tools.
Along with this, Olymp Trade offers an integrated mobile application, which is characterized by high interaction speed and great functionality. The application can be downloaded on Android or iOS.
Everyone chooses a trading method for themselves, but in general, Olymp Trade mobile software is enough for trading binary options.
On the company's official website you can find the latest analytics, as well as the economic calendar of the main macro-events that have the greatest impact on the course of exchange trading.
Choosing a broker is the key to success
Today it is very easy to fall into the trap of scammers offering fabulous earnings online. Often, such brokers use any methods of misappropriation of deposits - they replace quotes, block accounts, and do not withdraw money. Therefore, it is so important to make sure of the reliability and integrity of the company before starting trading.
Is it possible to make money on Olymp Trade ? The answer to the question can be easily found on specialized forums by reading real reviews from traders. Of course, due to the short period of work, there may be shortcomings or shortcomings of the platform. However, not a single investor can say that Olymp Trade does not withdraw online earnings . Each site update improves its performance.
Working with a broker
Interaction with the Olymp Trade broker occurs in several stages. First you need to register, open an account, go through verification, learn how to work with the platform interface, after which you can start trading financial instruments. All these points have their own nuances that every trader should know about.
Therefore, now I will talk about each of the stages of interaction separately.
Registration on the official website
Registration on the Olymp Trade website is not difficult.
But now registration for users from Russia has been suspended for reasons that are of a local legislative nature. This restriction applies only to opening new accounts or implementing advertising campaigns in the country.
Those who have already worked through Olymp Trade before will be able to use the services of a financial broker as usual. If you reside in a country whose laws do not interfere with the operation of Olymp Trade, traders can register accounts.
To do this, you need to fill out an online form on the official Olymp Trade website. There you should indicate standard identification data, such as full name, country, email, etc.
Instructions for opening an account
To obtain demo access to trading and the Olymp Trade terminal, you only need to confirm a unique code from your email.
And if you open a standard or VIP account, you will have to additionally verify (confirm the identity) of the client. This process involves sending copies of documents identifying the user for processing by company employees. In most cases, this process takes several days.
But if there are some incorrect aspects with client identification, then everything can drag on for quite a long time.
Demo account
The demo version of the account allows you to use the full functionality of the interactive terminal of the Olymp Trade broker and make transactions using virtual funds.
The balance is set at 10,000 virtual rubles. Transactions are carried out with absolute identity to real binary options trading.
This type of account is useful not only as trial access, but also as a training ground for practicing trading strategies. This will be interesting for already experienced users of the Olymp Trade platform.
Account replenishment and withdrawal of funds
It is possible to make payments with the Olymp Trade broker through many transaction tools. The list of methods available for transactions includes both electronic money and bank cards or special payment systems.
And then the territory of rules and restrictions begins:
- There is a condition that you can withdraw profit from your Olympus account only to the instrument from which the deposit was made. If a trader initially deposited money using his Visa bank card, then he will be able to withdraw funds exclusively to the same bank card.
- There are also minimum amount limits per request. But there’s nothing to worry about here, since the threshold is set at 350 rubles. or 10 dollars.
- In addition, I would like to note once again that before attempting to withdraw money from your account, you must undergo account verification. The withdrawal period can be up to 3 days, but in fact this process occurs much faster and rarely takes more than one day.
Technical support
Well done on this issue Olymp Trade. The company provides technical support in different languages, including for Russian-speaking clients.
To contact a company employee regarding your question, you need to select one of the contact methods. Now there is an opportunity:
- use the hotline;
- via email;
- consult directly online via chat on the official website.
The fastest way to get an answer to your question is to chat or call. However, it is still better to send substantive requests or requests via email.
In addition, on the Olymp Trade website you can find a main list of the most popular questions/answers, which also often helps save time.
Registration and verification
To start trading with Olymp Trade:
- fill out the registration form. It is located on the main page of the site on the left side. It is possible to quickly register using personal data from Facebook or another social network;
- an account has been created, by default, each new client receives a demo account with a balance of 10,000 units of currency indefinitely. , the Olymp Trade trading platform immediately opens .
When registering, select the correct currency; you cannot change it later. The only option to do this is to delete your account and register again.
Although registration was quick, your profile is empty, you need to fill it out and increase security:
- Click on the button that opens the menu, it is located in the upper left corner. Select Profile;
- Confirm your email and phone number. I also strongly recommend that you indicate your real full name, since in the future you may have to undergo verification, and it is better to prepare for this immediately;
- We recommend activating two-factor authentication. It will take a couple of minutes, and security will increase by an order of magnitude. Here you can also find settings for trading itself, in particular activating and disabling trading in 1 click.
As for account verification, there is no direct requirement in the client agreement to go through it immediately after registration. You can open an account, top it up and trade, but when you withdraw your profits, the Olymp Trade trading platform will most likely require you to provide scans of documents confirming your personal information and registration address.
So it’s better not to delay with this, but immediately upload the necessary documents. The corresponding button is located at the bottom of the profile settings.
The requirements are quite strict. In addition to scans of your passport and other document confirming your registration, you will also have to take a selfie with the documents. The company allows up to 5 working days for verification.
If the data changes, for example, when changing a surname or moving, the client is obliged to notify the broker about this within 7 days. The corresponding requirement is specified in the client agreement. Failure to comply is a reason to block your account.
Another caveat is that multiple registration is prohibited. If you need to register again, be sure to contact technical support, explain the situation, the previous account will be deleted, and you will become a client of the Olymp Trade trading platform again. If several accounts associated with a client are detected, the binary options broker Olymp Trade blocks all except one.
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.
The importance of creating a working strategy for making money
After studying the theory, you should move on to the practical part.
One of the most important components here is developing your own strategy. That is, it is usually based on an already existing strategy that can generate profit.
But usually it is necessary to slightly adjust it to the individual characteristics of the user. After all, there are no universal strategies that will work equally well for every trader.
To understand how to make money on Olymptrade, it would be useful to study basic strategies.
Information about them can be found directly on the broker’s website and in my many articles.
A good strategy can serve as a basis for a beginner who can use it to create a unique technique. A stable profit without a system is virtually impossible. Successful operations will not be very frequent if the user does not select an effective strategy. Then options trading risks turning into a kind of roulette.
But it will not be enough to just develop a strategy that can theoretically generate some profit.
Each strategy must be tested over a certain period of time. Therefore, using a demo account may be an ideal option.
There you can, for example, test your strategy for a month and give it an objective assessment.
If you manage to make profitable trades on a regular basis, then you can switch to a real account.
Real reviews
In reality, the situation with reviews varies greatly between positive and negative comments on the activities of Olymp Trade. Moreover, this situation is observed both in the Russian-speaking space and on foreign platforms.
In fact, there are a huge number of reviews, but I will talk specifically about the average opinions of the masses of people, maneuvering through individual subjective stories.
Traders
Comments from Olymp Trade users are very easy to share. Praiseful reviews relate to the platform, technical advancement of the broker and analytical capabilities, while negative reviews are associated with failures in trading, as well as blocking of money. There are a large number of such comments on the Internet.
Clients
Olymp Trade provides the opportunity for exclusively independent trading. Therefore, all clients, one way or another, can relate to traders; accordingly, opinions here are also concentrated in two planes. Positive reviews relate to the technical equipment of the platform, while negative ones address the issue of manipulation and withdrawal of money.
Employees
As far as Olymp Trade employees are concerned, everything is fine here, the reviews are decent, as an employer the company is satisfied with a large number of its employees, and this is a good sign. However, from time to time there are opinions about the workload being too high, incommensurate with the established salary, but there is nothing negative in terms of reliability from people with an insider’s view of the Olymp Trade company.
Trading platform Olymp Trade. How to trade?
The broker offers BO and Forex trading through its own platform. In it:
- The question mark in the upper right corner provides access to trading signals and educational materials. Here you can contact technical support;
- button in the upper left corner opens a menu with sections of your personal account, analytics and training.
As for the Olymp Trade trading platform , you can:
- Change chart type. In addition to the standard ones (zone, Japanese candles, bars), the Heiken Ashi chart type is available;
- Use indicators, a total of 24 indicators are available;
- Go to the live chart; the “Technical Analysis” button is responsible for this, which can be seen by scrolling below the “Indicators” tab.
- The colored stripe on the left side of the terminal is an indicator of market sentiment. Shows how traders' positions are distributed for a given instrument. Statistics are kept only for Olymp Trade clients, so this is nothing more than the mood of the crowd.
- The chart timeframe is set by a button located in the lower central part of the terminal. There are also buttons for scaling the graph.
How to make deals?
When trading binary options on Olymp Trade, you need to set 2 parameters – transaction volume and expiration date. Having selected the trading direction, click the appropriate button and the transaction will open.
Expiration date:
- select from the proposed options or set your own option for the duration of the transaction. That is, the duration of the transaction is indicated;
- You can also set the time when the deal will close by clicking on the “Expiration” button. There is no difference between these methods, so choose the more convenient option.
All that remains is to decide on the direction of the expected movement of the chart and press the appropriate button. The interest on it is the potential profit on the transaction, calculated as a share of the bet.
When concluding the first transaction in the Olymp Trade trading platform, a warning window will appear. Its appearance can be canceled by allowing one-click trading (but I do not recommend doing this unless you trade on time frames less than 5 minutes).
The deal is done. The graph shows:
- input level;
- expiration date.
If you hover over the green marker, the “Sell deal” offer window will appear. This means its early closure. We recommend using this option only if you have made a clearly incorrect forecast and want to compensate for at least part of the losses.
In our example, the bet size was 350 units of the deposit currency, and the transaction could be sold for only 15 units of currency. If the chart moves far from the market entry level in a unprofitable direction, early closing will become impossible.
Trading statistics are displayed both in your personal account and in the Olymp Trade trading platform.
Forex trading with Olymp Trade
The transition to the terminal for trading on Forex is located in the same window in which the account type (demo or real) is switched.
The terminal itself does not differ in appearance from the one in which BO trading is carried out. The same indicators and graphical tools are available.
But what’s different is the trading principle itself. In Forex there is no such thing as an expiration date, but stop loss and take profit appear. You set the transaction volume, click “Up” or “Decline”, and set the position of the SL and TP orders. The position of orders can be changed by dragging them with the left mouse button pressed on the chart.
In the picture above, a deal to buy gold is concluded. Opposite the SL and TP orders, the result is indicated when they are triggered. Unlike binary options, Olymp Trade allows you to close a Forex transaction at any time.
Free trading signals from Olymp Trade
A service of free trading signals is available for binary options. They look like a recommendation on the direction of trade for each instrument.
The service is not particularly helpful. It is not explained on what basis exactly this forecast was obtained, what expiration date should be selected and other nuances.
Some hidden signals are available for VIP clients. It is unlikely that their effectiveness is very different from what is freely available.
The best strategy, or how to lure users into binary
Often, materials with new, unique and better strategies appear on the Internet. We do not argue that a number of them are real, but in most cases they are fake.
Distributing materials with the most effective and incredibly profitable strategies is one of the ways to attract people into the system. It is necessary to convince doubting people to start trading, and a similar method is used for this purpose.
There are no ideal strategies that would allow you to constantly trade in profit. Any scheme has both advantages and disadvantages. Therefore, such proposals should be treated with suspicion.
Olymptrade and video training
This training format is the most productive because the user can receive information in the most visual form.
This broker offers videos produced by experienced professionals.
Therefore, their quality is beyond doubt. You can understand the main nuances about the choice of strategies, trading systems, and optimal bet amounts.
The most important advantages of video training include:
- Visual and effective material that is easy to digest.
- Usefulness, which has a positive impact on the formation of the right skills.
- Availability. You can easily find many videos in the corresponding section on the broker's website.
How to use Olymptrade?
There are no secrets here, because the work scheme is quite standard.
Necessary:
- Visit the broker's website and register there.
- Top up your account.
- Try to get the most out of the learning materials offered.
- Test the demo account.
- Start working.
It's quite simple.
Options trading has some nuances, but they are quite easy to master.
You just need to be able to concentrate on achieving your goals, adhere to the advice of professionals and use all the opportunities provided by the broker to learn and improve the quality of knowledge.
