Over the past year, the OlympTrade broker has begun to stand out from other companies that provide online trading services. Olymp Trade has a unique trading platform of its own development, the broker has created an excellent Training Academy on its website, which has no analogues yet, and provides absolutely all clients with a demo account for unlimited use, on which you can test strategies and hone your skills for an unlimited time, while using all the tools and indicators, just like in a real terminal.
We decided to pay attention to the OlympTrade broker and have prepared a series of reviews for you. Previously, the registration process with Olymp Trade was described in detail and a description of the Analytics section from OlympTrade was provided. Today we will answer a question that is increasingly common among beginners: how to top up an account on Olymp Trade ?
In order to top up your account at Olymp Trade, you first need to open the official website of the broker, which is located at www.olymptrade.com .
If you are not yet a client of the broker, then you should first register. If you already have an existing account, then you can log into your Personal Account in two ways: by clicking on the “Start Trading” button or on the menu to the right of it.
User's personal account
To register, you must provide reliable information about yourself: email and password, as well as currency. Most traders choose dollars, but investments are made in rubles. Currency conversion is often not in the player's favor, so traders may lose some money. If you do not want to encounter this, contact support, who will block your access to your account. Now you can open a new account, but use a different currency.
You can also log in to the site using social network accounts: Vkontakte, Facebook, Google +, Odnoklasniki, Mail.ru.
One trader can only have one account. If the casino administration finds out that there are several accounts, they will be closed forever. Repeated registration of the same client is considered fraud. If you notify the administration about your actions in advance, they will help you create a new account and transfer funds from your old account.
Start trading
How to trade on Olymp Trade
Trading on Olymp Trade
How to trade on Olymp Trade:
- Select the transaction type and trading pair.
- Specify all necessary parameters (amount, duration).
- Select the trade direction (up or down).
- Wait for the order to close or close it yourself (depending on its type).
Now let's look at trading on the Olymp Trade platform in detail.
You can trade on Olymp Trade using all popular devices - PCs, tablets and smartphones. For computers, the Olymp Trade website offers the application of the same name for download, as well as the MetaTrader4 terminal. For gadgets there are mobile versions for Android and iOS.
But the majority of users prefer to trade directly on the website through a web terminal, which is a proprietary development of Olymp Trade. We will look at this in our trading examples, of which there will be several - for each type of transaction that this broker offers to users.
Binary options on Olymp Trade
Trading binary options on Olymp Trade
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For reference: Trading binary options involves making a profit by guessing the price change by the time the order expires.
In order to open a transaction of this type on the Olymp Trade website, first of all you need to go to the “Options” tab in the asset selection field. There, from the list of trading pairs, you need to select one of the currently available options.
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It is no coincidence that availability is mentioned, since stocks, metals and indices can only be traded during the periods when the exchanges from which quotes are taken are open. Currency and cryptocurrency pairs are always available.
The list of trading assets can be sorted by alphabet, 24-hour price change, yield, and category (metals, indices, currencies, etc.). It is also possible to find a specific asset by name through the search bar.
Choosing an asset for trading options on Olymp Trade
Immediately after selecting an asset, its current chart is loaded and you can proceed to placing a transaction using the fields and buttons on the panel on the right.
The first line indicates the time after which the order will be closed. You can choose one of the proposed options, a custom interval, or specify the exact expiration time within the next 23 hours.
Selecting the trade expiration time
The next field indicates the amount that will be withdrawn from the Olymp Trade user account and used to open a transaction (minimum $1). Next, all that remains is to choose the expected direction of the exchange rate change by the time the order is closed - up or down.
Before this, you can select one of the available strike price options - the starting value of the asset, in relation to which the correctness of the forecast for the transaction will be assessed. Selecting different values for this parameter allows you to change the profitability ratio in the directions of order opening.
Choosing a strike price before opening a trade on Olymp Trade
After clicking on the red (down) or green (up) button, a window will appear with detailed conditions of the transaction being opened, including indicating the potential profit amount (up to 92%). If the Olymp Trade client is satisfied with everything, he must confirm the opening of the position with the appropriate button.
Confirmation of opening a transaction on Olymp Trade
When the transaction is confirmed, the chart will display vertical lines indicating its start and end times, as well as a horizontal line at the strike price level. After this, the trader can only wait for the order to expire to find out whether it was profitable or unprofitable.
Tracking position status on the chart and through the “Transactions” menu
For example, if the asset rate at the time of expiration is higher than the strike price and the transaction was opened “up,” the user receives the initially invested amount plus interest on his balance.
If the forecast does not come true, he loses all funds used to open the position. The details of the completed transaction can be viewed through the corresponding functionality on the panel located to the left of the chart.
Forex trading mode on Olymp Trade
Forex trading on Olymp Trade
The second type of trading that Olymp Trade offers its clients is transactions for the difference in the value of financial assets (Forex). In fact, these are no longer exactly binary options, but a semblance of margin trading, since there is the possibility of using leverage.
In addition, in Forex trading mode there are no restrictions on the time allocated for a transaction, but there is a liquidation of the position when a certain level of unprofitability is reached.
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There is also a commission for opening a transaction (there is none in options).
To use all the capabilities of the Olymp Trade trading terminal in Forex transactions, you need to enable three options in the settings:
Pending transactions.
Animator.
Take Profit and Stop Loss.
Enabling Olymp Trade functions for detailed setup of Forex transactions
After this, you can start trading Forex assets. To begin, in the trading pair selection menu, you need to go to the “Forex” tab and select one of the options in the list that opens. As with options, they can be sorted by several parameters and categories.
Selecting an asset for trading in Forex mode
After downloading the chart of the selected asset, you can begin placing an order. In the first field at the top, indicate the amount that will be invested in the transaction. Nearby is a leverage switch (multiplier). The higher the value chosen here, the greater the profit, and, of course, the risk.
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The multiplier can be from 5x to 500x, depending on the category of the selected asset.
Next, if desired, you can specify take profit
— the profit value, upon reaching which the transaction will be automatically closed.
Another automation tool on the Olymp Trade trading platform is stop loss
, which will close a position at a specified level of loss.
Making a transaction with a forex asset on Olymp Trade
If this field is left blank, the system itself will set a stop loss at 50% of the amount invested in the transaction to prevent its complete loss. There is no way to disable it. You won't be able to set the value yourself either. It turns out that you can lose a maximum of 50% of your position on this type of trade. And this is one of the main differences between Olymp Trade and platforms with full-fledged margin trading.
The last step is to select the direction of the transaction (up or down), once again check that all parameters are correct and confirm its opening with the appropriate button.
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Please note that for opening positions in Forex mode, Olymp Trade charges a commission, the amount of which varies depending on the selected asset, changes in its exchange rate and the invested amount (sometimes it reaches 15%).
Confirmation of opening a Forex transaction on Olymp Trade
The status of an open position can be monitored on the chart, which displays its opening level and the current rate change, or through the “Transactions” tab on the side functional panel. You can close an order at any time, without waiting for the take profit or stop loss to be triggered.
Tracking the status of an open Forex position
Olymp Trade also offers the possibility of delayed opening of transactions with Forex assets. To do this, you need to use the “Order” button, which will open a separate window for entering order creation parameters. The same data is filled in here as when opening a regular position, but you also need to specify the time or price level at which the transaction will become active.
Executing a deferred transaction with forex assets on Olymp Trade
Selecting the amount and method of payment
Once you have created your account, a demo account with Olymp Trade will appear along with it. It can be used in conjunction with a real wallet. First of all, you need to select a real Olymp Trade account from the menu. Next, at the top of the page, click on “Top up your account.”
After this, you will see a special window where on the left you select the payment system through which you want to conduct the transaction. First of all, choose the most convenient method for yourself:
- Credit cards: Visa, Mastercard
- Electronic wallets: Yandex, WebMoney, Qiwi, Neteller, Skrill, ePayments, Fasapay
Next, decide how much money you want to deposit. Click on the “Top up” button, which is located on the right. The money will be debited from your wallet and will be sent to the website within a few minutes. After this, you can safely trade, select assets and carry out transactions.
All payments are encrypted thanks to an SSL certificate, and if transactions are carried out with a bank card, then 3D Secure protection applies.
Feedback on deposits and withdrawals
You can read a lot of negative things about any company and see a lot of laudatory words about it. It all depends on how you perceive this area. In fact, the broker earns only from trading turnover, so no one is deceiving anyone - the time is not right, reputation and honesty with clients are important.
Those reviews that we found constructive indicate the honest implementation of its regulations on the part of the company, as well as the high speed of processing applications for withdrawal of funds. As for depositing money, it is almost instantaneous.
There were some delays of 2 minutes when replenishing via YandexMoney, but this is not a problem.
Demo account replenishment
Once you register, you will be asked to review the trading course. Only after this will the training mode be available, where you can demonstrate your skills without losing money. Each novice trader receives 10,000 virtual units from the broker for trading on the terminal. They are used to buy options. If large transactions fail and the virtual amount is used up, you can deposit funds. To do this, click “Top up your account” and confirm your actions.
How to make money on Olymp Trade
Making money on Olympus Trade
How to make money on Olympus Trade consists of the following steps:
- Choose the right moment to open a position.
- Weigh the existing risks, decide on the transaction amount and open it in one of the directions.
- Wait for the order to expire (for options) or close it yourself upon reaching the desired level of profitability.
This is in general terms. If we look at earnings on Olymp Trade in detail, many nuances will appear on which your profit will depend.
First of all, in order to make money on Olymp Trade, you need to have a certain level of skills in trading exchange assets (they can be obtained in the Training section).
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Ideally, you will need an effective trading strategy that involves using a combination of several technical indicators (there are about 30 of them available).
For example, you can add SMA, Parabolic and Bollinger Bands (BB) to the chart. In this case, the potential points for entering and closing a trade are determined by the punctures of the upper and lower edges of the BB. Also, breaks in the Parabolic dot contour will help you choose the right moment to open a position. And the intersection of the SMA with the Bollinger moving average will serve as confirmation of a change in the direction of the local trend.
An example of a strategy for trading on Olymp Trade
In addition to using strategies on the chart, you need to develop and begin to apply your own set of financial rules that will help avoid losing your deposit.
For example, you cannot invest more than 10% of your existing balance in one transaction. In this case, after closing a losing trade, you will still have many chances to gain profit.
You should also avoid trading on tilt (when you want to win back after a large loss) and return to transactions only with a fresh mind.
Replenishment via Webmoney or bank card
To replenish your balance in Olymp Trade via the Webmoney payment method, go to the replenishment section, select the icon and input amount, and also indicate the wallet type (WMR or WMZ). After this, you can click “Top up”. Next, you will be instantly redirected to Web Money Merchant.
To top up your account via a bank card, you must enter your login and password from your personal WMID or indicate the number from the image. After this, confirm the operation. Funds are credited to your account quickly and after this you can immediately start trading.
This is a simple top up method. Go to your personal account, select a method of replenishing funds, indicate the number and click “Top up”. After this, a window will appear where you need to enter reliable information from the card (number, first name, last name, expiration date, three-digit number at the back). Click "Pay".
If the information is entered correctly, the operation will be active immediately. After this, you need to wait until the funds are credited to the deposit and start trading. In many cases, you can start trading in 5-10 minutes. But there are situations when you need to wait up to 2-3 days for enrollment. If delays occur, contact the bank and consult with staff.
Bonuses Olymp Trade
Many binary options brokers act dishonestly towards their clients. They automatically award deposit bonuses without asking for consent, and when the trader wants to withdraw funds, he will be in for an unpleasant surprise.
Olymp Trade does not have this, and you can refuse to accrue bonuses. Why do this? After all, they look so attractive. The thing is that bonuses are awarded in the form of virtual currency, which cannot be withdrawn until a certain stage. For example, if you receive a 20% bonus, in order to withdraw funds you will have to increase your deposit 25 times, which is quite a lot, especially considering the lack of skill and experience among novice traders.
Yes, bonuses look very attractive, because after depositing 18 thousand rubles into your account, the broker offers another 30% of the amount. However, at the initial stage it is better to refuse to use them, since it will be very difficult to work out.
Interesting! In 2016, European regulators banned options brokers from awarding virtual bonuses because, according to legislators, they provoke the trader to enter into more transactions than he originally planned.
As for the size of bonus accruals, they directly depend on the amount of deposit replenishment. For example, with a minimum payment of 350 rubles, bonuses are not provided at all. You can get 10% of the amount by topping up your account with 2,000 rubles. When replenishing from 18 thousand, the bonus will be 30%. And the maximum accrual is provided for VIP account owners, who can receive up to 50%.
The most comfortable amounts to start trading are 5 and 10 thousand. It is with such a deposit that you can feel confident in the market and not be afraid that a small series of unprofitable transactions will completely reset your account.
What to do if replenishment fails
If you have difficulties with financial transactions on the official Olymp Trade portal, you need to contact technical support. Here you will quickly get the help you need in seconds. The problem may be related to your personal account or some data does not match. To resolve this issue, please contact the site administration.
Olymp Trade offers reliable and comfortable conditions for both experienced brokers and beginners. This is a company that does not miss the opportunity to surprise with the variety of its services and allows active users to make profitable investments and receive solid profits. The company has a generous bonus system and promotional codes. Just register and you will have more opportunities!
Important steps when registering an account
And this review needs to start from the registration stage. This process, like most other options brokers, does not take much time. At most, it will take a couple of minutes at the initial stage.
We simply fill out the registration form, in which we indicate our first name, last name, email address and telephone number.
Important! All data provided during registration must be accurate, as they will be checked at the withdrawal stage, and if anything turns out to be incorrect, problems may arise.
And finally, the most important field in the registration form is the choice of the currency in which trading will be conducted. The broker offers 3 options to choose from:
- U.S. dollar.
- Euro.
- Russian ruble.
This issue must be approached with the utmost caution, since subsequently it will no longer be possible to change the currency. If, for example, the US dollar is chosen for trading, then the account will still be replenished in rubles, but during the transfer a conversion will be made, and given the constantly changing exchange rate, you can lose a certain amount on such transactions.
With a minimum deposit, it may not be noticeable, but if you plan to trade in excess of 5 thousand dollars, then the difference can hit your wallet hard.
But it’s not all that scary; in fact, you can change the currency. To do this, you need to write a letter to the technical support service, asking to block this account and open a new one with a new currency.
You should not simply open another account without informing the broker's representatives, as this is contrary to the company's rules and may lead to the blocking of all accounts registered from your device.
As a rule, managers make such concessions without any problems and will even create a new profile for you with a new currency. And it doesn’t matter if you had money in your old account, they will simply transfer it to the new one without any interest charges or commissions. Olymp Trade does not deal with such small extortions.
