What is Olymp Trade?
Olymp Trade is an international trading platform that allows you to make money online by opening trades on; currency pair FTTs, stock FTTs, indices, commodities and cryptocurrencies. You can either access the trading platform through – An Olymp Trade app for iOS – Olymp Trade Android App – Or through the web browser.
Is Olymp Trade Legit?
Yes. The platform is legit and regulated by the International Financial Commission where it holds a category A membership as a safe and reliable broker.
Olymp Trade joined the Financial commission on February 22, 2016, and was granted the honor for continued reliability, honesty, and quality of service offered since 2014.
And the best part?
If you ever get into a situation where you feel cheated, you can file a petition at the financial commission and get a monetary compensation up to €20,000 if the dispute is resolved in your favor.
However, it is recommended that you reach out to the broker first and try to resolve the issue internally.
You can contact both Olymp Trade and Finacom on these addresses: –
Olymp Trade Review 2020 | Is Olymp Trade Legal?
Though registered at James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building, Saint Vincent and the Grenadines. And operated by Wallfort Limited; registration No. HE364695, registered at KPMG Center, 1st floor, 1 Agias Fylaxeos Street, 3025 Limassol, Cyprus; Olymp trade works globally.
And unless a country has strict financial regulations (like in the USA); the broker will just work.
So far Olymp Trade is legal and works in Kenya, Nigeria, India, Ghana, South Africa, Egypt, Pakistan, Indonesia, Malaysia… Ideally, it is legal/halal in nearly all nations.
Does Olymp Trade Really Work?
Yes, Olymp Trade works. However, you need to invest your time in learning how the product works before you begin making money with it. You can learn more about Olymp Trade on our blog or via the Olymp Trade Education area.
Olymp Trade Review 2020 | How to Use Olymp Trade in India.
There is no difference in how Olymp Trade works from country to country. So, whether you are in India, Pakistan, Malaysia, Indonesia, or which part of Asia; the Olymp Trade platform is the same.
However, you can change the Olymp Trade language to Hindi for an Indian experience – read this post to see how it is done.
Olymp Trade Review 2020 | How to Trade On The Platform.
The first step to trading online is creating an Olymp Trade Account.
Or use this link to download the Olymp Trade trading app on your phone.
Upon registration, you will get $10,000 demo credits on your account. You can use the demo units to trade without risk – on real market conditions.
To place your first trade in Olymp Trade, click on the plus sign on the top left corner of your browser and choose an asset to trade.
Assets are a collection of securities held by a firm for the purpose of reselling for a profit.
Olymp trade has over 78 underlying asset spread in the manner below: –
- 36 currency pairs;
- 10 cryptocurrencies against USD;
- 2 cryptocurrency pairs;
- 6 commodities;
- 10 stock indices;
- 13 shares of the largest companies worldwide.
The best assets to trade as a beginning trader are currency pairs like the EUR/USD, EUR/GBP & GBP/AUD.
2. Choose how long you want your trade to run – as in the image above.
The minimum trade time in Olymp Trade is 1 minute.
3. Enter the amount you’d like to trade.
The minimum trade amount in Olymp Trade is $1.
4. Keep monitoring weather the price chant will rise or fall.
5. Choose which direction you’d like your trade to go.
Open a down trade, if you think that the price for the selected asset will fall. This type of trade is called a Put Fixed time trade. If you think that the asset is declining, press the “Down” button.
Open a bet on a price rise, if you believe that the currency pair will become more expensive. This type of trade is known as Call FTT. If you are sure that the price will go up, then click on the “Up” FTT.
How to Deposit Money to Olymp Trade in Kenya
You can deposit money to Olymp Trade in Kenya via: – Mpesa – Skrill Mpesa – Neteller Webmoney Visa MasterCard FasaPay And Bitcoin.
How to Deposit Money to Olymp Trade Through Mpesa.
- Click on the make deposit button on the top right corner of your trading account.
- Wait to be redirected to the deposit page.
- Chose a deposit method from this list (if you are in Kenya, pick Mpesa).
- Choose the amount to deposit.
- Scroll down to bonuses and click on promo code.
- Enter Promo Code e.g rimba30 to get a 30% bonus.
- Now click on the activate button to add your bonus to the deposit.
- Next click on deposit.
- Enter your phone number in this format +254 708 655 398. Now click next.
- Enter your Mpesa PIN then press OK to process your payment.
How to Use Visa/MasterCard to Deposit Money to Olymp Trade.
- Login to your Olymp Trade account.
- Or create a new account if you aren’t registered already.
- Click on the deposit button on the top right corner of your chart.
- Choose a deposit to live account.
- Select bank cards Visa/MasterCard.
- Enter the amount you’d like to deposit.
- Enter your card details and click the pay button.
Your account will be loaded instantly. You can also save your card details for future use.
How to Deposit Money to Olymp Trade from Nigeria.
You can use Naira MasterCard to fund your Olymp Trade account.
Or use either of these bank cards: – Diamond bank Visa ATM card, First bank card, GTB Naira MasterCard, FCM bank cards…
Alternatively, you can use Skrill or Neteller to fund your Olymp Trade account.
If your bank card shows deposit errors, use it to load skrill or neteller then use neteller/skrill to deposit money to Olymp Trade.
The Best Strategies to Use if You Want to Win in Olymp Trade.
Trade Using The Japanese Martin Strategy (1).
This strategy requires that you use candlesticks in a chart frame of 5 minutes.
We are choosing 5 minutes because it is the time-frame which shows frequent changes in asset prices.
You’ll see red and green sticks. A red candle means that the price is falling, while a green one means that it’s rising.
Every five minutes, a candlestick closes and another one opens.
Open a new trade when a candlestick closes.
Deposit a minimum of $100 for this strategy.
Olymp Trade Review 2019 – Summary.
Basing our argument on the number of payouts this broker releases daily, monthly, and yearly; among other important factors like reliability, the safety of client funds, and honesty in the platform; we say Olymp Trade is a safe broker to trade with.