How To Make Money Trading On The Olymp Trade App

How would you feel knowing how to make money trading on the Olymp Trade app?

I know you are excited, but let me show you something real quick.

Check this out;

How would you like to make $140 or even more in under 3 minutes?

Well, that’s the magic of Olymp Trade.

In this guide, I will show you everything you need to know to make money trading on the Olymp Trade app.

Olymp Trade is one of the leading online trading platforms without much introduction.

Of course, we have the likes of Quotex, another one of the fastest-growing platforms to make money using only your phone.

In fact, I have put together a pretty straightforward and honest Quotex review. Inside, I share my first-hand experience making money on this platform.

I’d suggest you check it out immediately after you are done learning how to make money on the Olymp Trade app.

A brief Olymp Trade background check

Founded in 2014, Olymp Trade is used by over 88 million traders in more than 130 countries. 

Now that’s huge!

Unlike its competitors like IQ Option and Binomo, the platform offers a variety of financial instruments, including fixed-time trades, forex, stocks, and commodities.

This means that you can trade and make money with crypto or stocks without actually owning any of it!

But the question most people struggle with a lot is, Can you trust Olymp Trade?

Is Olymp Trade safe?

Well, Olymp Trade is licensed and regulated by the Vanuatu Financial Services Commission (VFSC).

And for your information, the VFSC is a reputable financial regulator that is known for its strict standards. 

On top of that, Olymp Trade is also a member of the Financial Commission (FinaCom), which is an independent dispute resolution organization.

And Olymp Trade has a good reputation among traders.

In fact, it has bagged several awards, including the “Best Online Trading And Investment Platform MENA” award from the World Business Outlook in 2023 and the “Most Reliable Broker” award from the International Finance Awards in 2021.

They are 17 awards if am not wrong.

Olymp Trade pros and cons

Just like anything nice, Olymp Trade isn’t perfect as you would assume.

There has been some concerns about Olymp Trade.

To be specific, some traders have complained about the platform’s withdrawal process, and there have been some reports of fraudulent activity. 

Of course, you can’t believe everything you read online.

So, to give you a whole picture, here are some of the pros and cons of trading on Olymp Trade:

Pros:

•  Regulated by a reputable financial regulator
•  Member of an independent dispute resolution organization
•  Good reputation among traders
•  A wide variety of financial instruments
•  User-friendly platform

Cons:

• Some concerns about the withdrawal process
• Dependence on external trading signals, which can become an issue when analyzing the charts
• Limited availability of advanced analytics
• There are not enough educational materials. But they’ve been working to close the gaps lately, kudos to them.

So yes, Olymp Trade is a reputable online trading platform that offers a wide variety of financial instruments. 

It has its ups and downs (pan intended😂).

Either way, always do your research before trading on any online platform.

How To Make Money Trading On The Olymp Trade App

I hope you are now comfortable learning how to make money trading on the Olymp Trade app.

The first step is to sign up.

So head over to OlympTrade.com and create an account. It is free!

Here, you have four sign-up options. You can use your email and password, an Apple account, a Facebook account, or your Google account (Gmail).

I prefer the Gmail route because I don’t have to remember any passwords. One less thing to worry about, right?

Once you have an account, go ahead and log in.

Olymp Trade demo account

When you first log in, what you will see is a demo account.

A demo account is your practice ground.

This is where you hone your trading skills. And when you are comfortable, you can move up to the live trading account, where you can make real money.

I will take you there in a minute, but before that, let me show you around the Olymp Trade platform.

I have subdivided the platform into 6 parts.

A: You will find trade history, markets, events, and help. If you run into problems, use this section to find help.

B: Use this section to pick an asset you’d wish to trade. As mentioned earlier, Olymp Trade is stocked with a ton of assets, including crypto, stock, commodities, currencies, ETFs, Indices, Metals, and OTC. You can also switch the trade more here, from fixed time trading to forex or stocks.

C: Find your profile here. And even switch from your demo account to a live account. You will find the deposit and withdrawal buttons here.

D: control the trade terms here. Choose the amount, set the duration, and decide whether it is up or down, We’ll talk about what that means in a minute.

E: use this section to spice up your chart area. You can switch from chart areas to candlesticks, among other patterns. Also, this is where you will find technical analysis tools.

F: And finally, this is the section to switch between different chart time frames.

How to place your first trade on Olymp Trade

To start trading on Olymp Trade app, you first need to decide whether you are going the FTT, Forex, or stock route.

For this example, I will be using FTT mode.

Once you have decided, the next step to making money trading on the Olymp Trade app is to pick an asset.

As you can see, there are a ton of them.

Today, we’ll be trading the Basic Altcoin Index, which is a crypto index that follows all other altcoins, apart from Bitcoin!

So, click on it, and it will be added to the chart area.

The number you see next to the asset is your profits. In my case, I start to bag 70% profit from my successful Basic Altcoin Index trades.

The next step is to set the trade amount, set the duration, study the chart for activity, and then decide.

As you can see, I have decided to invest $30. I must warn you, that trading carries risk, only invest what you are willing to lose.

And have set the trade duration to 2 minutes.

Why 2?

Well, if you look at my chart, I am looking at the 1-minute chart.

I have this basic rule that, my trade duration on FTT should be 2X the chart timeframe.

This is to give the market time to react to my predictions.

Sometimes it works, sometimes it doesn’t copy at your own risk.

The remaining step is to study the chart to understand how the asset is behaving.

Make a calculated prediction, and then finally open a position (place a trade).

To help me decide, I can use these Olymp Trade technical analysis tools.

Even better, Olymp Trade strategies.

You can activate one and wait for its buy/sell signals.

For now, I am using the sliding averages strategy.

It’s comprised of two lines; blue and yellow. Doesn’t matter what they mean now, you can follow up later or even watch the video that accompanies this strategy.

But what you need to care about is this:

• Buy (click up, the green button) when the yellow line crosses the blue line from bottom to top
• Sell (click down, the red button) when the yellow line crosses the blue line from top to bottom.

You can practice this inside your demo account.

But remember, the money you make inside the demo account cannot be withdrawn.

How to deposit/withdraw money from your Olymp Trade app

If you want to make real money, you must fund your account. The minimum deposit accepted is $10.

You can use any of the following methods:

• Visa/Mastercard
• Neteller
• Skrill
• MPESA
• WebMoney
• Bitcoin
• Ethereum
• Fasapay
• Perfect Money
• Jeton Wallet
• AdvCash

To fund your Olymp Trade account, you need to follow these steps:

Register on the platform (if you haven’t already) and log in to your account.

Click on the “Payments” button on the platform.

Select “Deposit” from the options list.

Specify the deposit amount and choose the payment method from the available options, such as Visa/Mastercard, MPESA, Neteller, Skrill, WebMoney, Bitcoin, Ethereum, Fasapay, Perfect Money, Jeton Wallet, or AdvCash.

Click “Next” and “Confirm” to complete the deposit process.

Again, the minimum deposit amount is $10 or €10, and the available deposit methods may vary depending on your location. 

How long will you have to wait for the funds to appear in your account?

According to the Olymp Trade website, deposits are almost instant on the platform, especially if you use electronic payment systems like Skrill or Neteller. 

However, in rare cases, bank card transfers, net banking, and other payment methods can take between 2-5 business days to process. 

To be honest, the actual time for the funds to reflect in your account may vary depending on the payment method and the trader’s location. 

This explains why Olymp Trade recommends using the same method for depositing and withdrawing funds to avoid any delays or complications. 

How to withdraw your earnings on Olymp Trade

Congrats, you are among those making money trading on the Olymp Trade app.

To withdraw money, follow these steps:

1. Log into your account.

2. Click on “Withdrawal” in the top right corner of the screen.

3. Choose your preferred payment method from the list of options available.

4. Enter the amount you wish to withdraw and click on “Submit.”

5. Confirm your withdrawal request.

The withdrawal time is usually 24 hours, but it can take up to 5 working days for some payment methods, such as bank transfers. 

The better part?

Olymp Trade does not charge any fees for withdrawals, but some payment systems may charge their fees. 

To speed up the withdrawal process, use recommended payment methods like Skrill, Neteller, or cryptocurrencies.

And that is how to make money trading on the Olymp Trade app.