Olymp Trade

Olymp Trade Review: Is Olymp Trade Broker Good?

Broker overview and general information

Olymp Trade is a brokerProviding online trading servicesEstablished in 2014 under the operation of Aollikus Limited and headquartered inSaint Vincent and the GrenadinesbrokerWith over 89 million customers in over 130 countries.

Licenses that brokers have obtained

If you ask whether Olymp Trade broker is good or not, you must start by considering the license and regulation first. The broker is regulated and licensed by Vanuatu Financial Services Commission (VFSC) under license number 40131.

Products and services from brokers

Trading products

Olymp Trade is an online trading platform that offers a variety of trading modes, such as Fixed Time, Forex and Stocks. Fixed Time mode allows users to open orders to trade up or down based on the price of a universally traded asset, while Forex mode allows traders to use multipliers to increase profits when trading currency pairs and other assets.

Trading Platform

The broker has its own developed trading platform, which is accessible to traders via the broker’s proprietary web terminal and via mobile applications and websites.

Broker Account Types

The broker offers only one account type to choose from, with the following details:

• Starting Spread: Not specified

• Commission: Not specified

• Leverage: 1:500

• Swap: Not specified

• Minimum deposit: $10
  

Review of the pros and cons of Olymp Trade broker

Pros:

• Easy to use platform

• Support deposits and withdrawals via Thai banks

• Minimum deposit only $10

Cons:

• There is only one account type.

• Several important information is missing from the website and some of the information is unclear.

• Leverage is quite low

• There are only about 30 Forex currency pairs available for trading.

• Only broker platforms are supported.

• The process of verifying your identity to withdraw money is quite complicated.

• Complex trading conditions

• High risk because it is a type of trading Binary Option

Broker Overview Summary

From checking the license and comments from real users, it was found that Olymp Trade is considered one of the most popular brokers in Thailand. Although the broker has different trading conditions from other brokers and does not display complete information on the website, the service is provided correctly. However, please use your discretion in deciding to apply for the service because making profits from Binary Option is a very high-risk trade that may cause you to lose all your money.

This Olymp Trade broker review is just a suggestion from the TrustFinance team to be used as information for decision-making for investors who are looking for a broker that is suitable for them. The important thing in choosing a broker is reliability. However, all types of investment have risks. Therefore, investors should study information carefully before deciding to invest.

Frequently Asked Questions about Olymp Trade

1. Is Olymp Trade legal?

Olymp Trade is registered and licensed under the given jurisdictions. However, some regulatory bodies have prohibited such trading. In Thailand, there is no prohibition at all.

2. Is Olymp Trade gambling?

Binary Options trading at Olymp Trade is a price prediction from the chart of various assets under a specific time frame, which is a form of making a profit. As a result, some investors use random guessing to make a profit. Therefore, Binary Options can be considered gambling. However, if investors use a trading system that has been analyzed and managed risks, it can be considered not gambling.

3. What is the minimum withdrawal amount for Olymp Trade?

Olymp Trade minimum withdrawal amount is $19 or €19.

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Olymp Trade Review Compare spreads, fees, trading platforms, deposit and withdrawal conditions and more with real user reviews to help you decide on the broker that suits your needs.