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Olymp Trade

About Company

Overview

Information

Review

Summarization

THIS SERVICE IS NOT AVAILABLE IN YOUR REGION

Unproved

Unproved

Olymp Trade

Founded in :

N/A

2014 (11 Years)

2 Reviews

Average

2.74/5

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0.00

Traffic & Engagement

4.33

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Security Information

Warning

This company is currently unproved. Please be cautious of the potential risks!

What are the differences in regulations for each ?

License

A Grade License

Issued by globally renowned regulators, these licenses ensure the highest trader protection through strict compliance, fund segregation, insurance, and regular audits. Dispute resolution and adherence to AML/CTF standards further enhance security.

B Grade License

Granted by respected regional regulators, these licenses offer robust safety measures such as fund segregation, financial reporting, and compensation schemes. Though slightly less strict than Tier 1, they provide dependable regional protection.

C Grade License

Issued by regulators in emerging markets, these licenses offer basic protections such as minimum capital requirements and AML policies. Oversight is less stringent, so traders should exercise caution and verify safety measures.

D Grade License

From jurisdictions with minimal oversight, these licenses often lack key protections like fund segregation and insurance. While attractive for operational flexibility, they pose higher risks to traders.

Security Information

Warning

This company is currently unproved.

Please be cautious of the potential risks!

What are the differences in regulations for each ?

News

TrustFinance Intelligence Agency

Research date: May 28, 2025

Olymp Trade has ceased accepting new clients from Russia due to upcoming amendments to the Russian Securities Markets Law, which may also impact existing clients. The company plans to shift its focus towards Asia, Africa, and Latin America, terminating all advertising campaigns aimed at Russian users. This decision follows the clearing of charges related to illegal advertising against both Olymp Trade and Yandex. The new legislation's implementation date remains unconfirmed, but it is expected to affect the financial services landscape in Russia significantly.

Olymp Trade has ceased accepting new clients from Russia due to upcoming amendments to the Russian Securities Markets Law, which may also impact existing clients. The company plans to shift its focus towards Asia, Africa, and Latin America, terminating all advertising campaigns aimed at Russian users. This decision follows the clearing of charges related to illegal advertising against both Olymp Trade and Yandex. The new legislation's implementation date remains unconfirmed, but it is expected to affect the financial services landscape in Russia significantly.

The Reserve Bank of India (RBI) has issued a warning against unauthorized forex trading platforms, advising the public to avoid transactions on these platforms. The RBI has published an 'Alert List' of 34 illegal forex trading entities that are not authorized under the Foreign Exchange Management Act (FEMA). The central bank emphasizes that only transactions with authorized entities are permitted and cautions that engaging with unauthorized platforms could lead to legal consequences.

The Reserve Bank of India (RBI) has issued a warning against unauthorized forex trading platforms, advising the public to avoid transactions on these platforms. The RBI has published an 'Alert List' of 34 illegal forex trading entities that are not authorized under the Foreign Exchange Management Act (FEMA). The central bank emphasizes that only transactions with authorized entities are permitted and cautions that engaging with unauthorized platforms could lead to legal consequences.

CySEC has blacklisted several trading providers for offering unauthorized foreign exchange and cryptocurrency services. These providers falsely claimed affiliation with regulated brokers and have been warned of severe penalties for noncompliance with new licensing guidelines. A recent study by CySEC indicated a concerning trend of retail investors not adequately researching investment products, prompting a campaign to educate the public on the risks of online trading.

CySEC has blacklisted several trading providers for offering unauthorized foreign exchange and cryptocurrency services. These providers falsely claimed affiliation with regulated brokers and have been warned of severe penalties for noncompliance with new licensing guidelines. A recent study by CySEC indicated a concerning trend of retail investors not adequately researching investment products, prompting a campaign to educate the public on the risks of online trading.

Olymp Trade is a forex trading platform designed to meet Islamic trading requirements, offering interest-free trades and real-time market access. It aims to make trading accessible for everyone, particularly for Muslim traders, by providing educational resources, a user-friendly interface, and a demo account for practice. The platform emphasizes that forex trading is not gambling, as profits depend on market strategies rather than chance. Olymp Trade's mobile app allows users to trade conveniently from their phones, enhancing accessibility.

Olymp Trade is a forex trading platform designed to meet Islamic trading requirements, offering interest-free trades and real-time market access. It aims to make trading accessible for everyone, particularly for Muslim traders, by providing educational resources, a user-friendly interface, and a demo account for practice. The platform emphasizes that forex trading is not gambling, as profits depend on market strategies rather than chance. Olymp Trade's mobile app allows users to trade conveniently from their phones, enhancing accessibility.

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Reviews

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Review Analytic

Charles Carson

Direct review

Bad

Overall Thought

Basically they hire thousands of marketers who lure people into downloading the app and eventually depositing decent sums. I have made a deposit before 3 days but still not credited to olymptrade account however money has been deducted from my bank account. I enjoy swift service trading on benarmstrong-trades so I move my invest there. I have sent several emails to Olymptrade customer service and supervisor but no response from them. I lost my money without trading. The worst customer service I have ever seen in my entire life. chatting option is operated by automatic machine or robot.

Apr 18, 2023

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Poor

Total 1 Cases

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Feb 15,2024 Dot icon 08:02

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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.

 ⚠️Warning:From checking the VFSC license, license number 40131 under AOLLIKUS LIMITED, no information was found linking that Olym Trade is regulated by VFSC, so please consider carefully before investing

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

 ⚠️Attention: Olymp Trade has only one account type, but it gives traders special privileges depending on the account status. There are 3 statuses: starter, advanced, expert. Each status has different conditions for promotion.

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

 ⚠️Considerations: Binary Option is a speculation from the price chart of various assets in 2 ways: predicting the price in an upward direction (Call Option) and predicting the price in a downward direction (Put Option) within a specified period of time. Some regulatory agencies have banned trading in this form of investment. However, in Thailand, there is no law controlling this type of investment. However, the SEC has publicized to investors to be more careful in this type of investment.

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

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.

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.

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.