You’ve probably heard about forex trading on social media, blogs, search engines, or even from your friends; and may be asked this question too, “Can I really make money trading forex?”
Well, the answer to that basic question is, YES, you can make money trading forex! But where?
One of the most popular and trusted broker platforms to make money online is the Olymp Trade platform.
It is available worldwide – except in a few countries with tougher regulations on trading.
In today’s post, I’ll take you through what you really need to do to make money on the Olymp Trade platform.
These steps include: –
- Account registration – register an Olymp Trade account.
- Training – Practice forex trading on a Demo account.
- Account funding – Deposit money into your Real/Live Olymp Trade account to start trading with real money.
- Live trading – Trade on Live account using strategies learned from Demo account and earn real profits.
- Profits – Withdraw the funds you’ve earned in Olymp Trade
1. Register an Olymp Trade account.
You can register an Olymp Trade account by clicking this link https://olymptrade.com/home which leads to the Olymp Trade website. There the account registration interface will appear.
Provide your email address, set your own password, select a convenient currency, and then agree that you are of legal age. You will then be required to verify your email address and that’s all.
Such an easy process, or is it?
Once your registration is through, you can choose to either start trading on the Olymp Trade site from your browser or download the Official Olymp Trade Application. Available for Laptops, PCs, iOS, and Android.
2. Practice forex trading on a Demo account.
Whether you choose to trade on your browser or on the mobile app, you will need to login to the platform using your credentials as provided during account registration. (that’s your email address and the password you set).
Once you log in, on the top furthest left is where you can switch between Live and Demo accounts.
Switch to Demo account and begin practicing how to trade forex.
Olymp Trade actually gives clients $ 10,000 free demo units to practice trading.
You can always refill this amount for FREE as many times as you wish and continue practicing how to trade forex.
How many assets can I trade in Olymp Trade?
The platform provides over 70 assets that can be traded on Fixed Time or Forex accounts.
These assets are spread as Indices, Cryptocurrencies, Currencies, Commodities, Stocks, and ETF.
Do Olymp Trade Accounts Come With Technical Analysis Tools?
Yes. The platform has over 20 Indicators and Oscillators which can be used to predict trends. Accurate predictions also lead to real earnings.
How many charts can I find in Olymp Trade?
Olymp trade has 4 different types of charts.
Namely: – area chart, Japanese Candlesticks, Bars, and Heiken Ashi.
All of which can be customized into periods ranging from 15 seconds to 1 month.
The platform also allows an expiration for the chart. Always ranging from a minute to several hours.
You can also start trading for $1 only.
How much profit can I make per trade?
In terms of profitability, you can gain up to 92% return on your investment
To make profits, you have to predict whether the price of an asset will go UP or DOWN within a specified period.
If the price of the asset actually moves toward the direction you predicted, you earn the specified percentage of the invested amount plus the invested amount itself!
The only bad thing is that profits made on a Demo account are virtual and cannot be withdrawn!
I can hear you asking yourself, “Then how do I make money on the platform?”
It is quite easy!! Let’s move on to the next step and see.
3. Deposit money into your Real/Live Olymp Trade account.
In order to make real money in Olymp trade and to actually withdraw your earnings, deposit real cash.
To deposit money into your Real Olymp Trade account, you need to log into the platform.
- Once logged in, a prominent blue Deposit button sits at the top middle position on your mobile app.
- Hit it and it will direct you into choosing the amount you would like to deposit.
- Good News!! The minimum deposit amount is $ 10 for those who would like to start small.
- After choosing the investment amount, proceed to choose the method of payment and fill in your details to process your payment.
Several methods of payment are supported in the Olymp Trade platform including; Bank cards, M-PESA, NETELLER, Skrill, WebMoney, and Bitcoin. What an amazing world of choices and convenience!!
Once your deposit has gone through, switch to Live account and confirm that funds were credited into your Live account. If so, then you are now ready to MAKE REAL MONEY on Olymp Trade!!
4. Trade forex on Live account and earn real profits.
From the Demo account, we learned that to earn profits up to 92% of the investment amount, you have to predict whether the price of an asset will go UP or DOWN within a specified period.
If the price of the asset actually moves toward the direction you predicted, you earn the specified percentage of the invested amount plus the invested amount itself!! Sounds pleasant, yes?
It actually is!!
Having said that, this is exactly the same thing that you want to do on a live account to earn real money!!
Say for example you think the Price of Bitcoin whose rate of return is 82% will go UP in the next 5 minutes and so you take a UP position at $ 100 for 5 minutes.
If the price of Bitcoin actually becomes higher than the point of execution of that trade after 5 minutes, $ 82 plus the invested amount; $ 100 will be credited to your Live account immediately, making your account increase by a whole $ 82!
If you also think that the price will go DOWN and not up and take a DOWN position for 5 minutes using the same $ 100 and the price actually is lower than the point of execution of the trade after 5 minutes; the same $ 82 plus the invested $ 100 will also be credited to your live account immediately!!
5. Withdraw your Profits.
After you’ve earned profits in Olymp trade you’ll probably want to withdraw your earnings to your bank account.
To withdraw funds from the platform, login to Olymp Trade and locate the menu (three dots bellow the setting button)
Tap on that menu to WITHDRAW profits!
On the withdrawal, page choose the withdrawal method then enter the amount you’d wish to withdraw (minimum withdrawal $10)
Your withdrawal request will be processed and money will be credited to your wallet shortly!
All said and done, throughout our journey, we have seen that it is actually possible to make money and withdraw profits from the Olymp Trade platform.
However, that’s not all there is to learn about making money on Olymp Trade. There is more to learn including: –
How to use technical analysis tools to pick trading directions, how to read the economic calendars, trading with orders, how to do fundamental analysis, and more…
In short, this is just the beginning of a long journey. Brace yourself for more trading materials and check out our ready-made trading strategies to enhance your performance.