A Forex broker like OLYMP TRADE provides traders with access to one or more platforms that will allow them to buy and sell foreign currencies. Forex brokers are also known as retail or currency trading brokers. Retail currency traders in turn use these broker companies to gain access to the 24-hour currency market for speculation purposes.
Forex broker services can also be provided for institutional clients and large companies such as investment banks. OLYMP TRADE is a category A broker that entered the online trading market in 2014.
With a team of world-class analysts, the broker developed original trading strategies and teach traders how to use them by means of open webinars and one-on-one consultations with traders.
OLYMP TRADE is a member of the International Financial Commission and has repeatedly demonstrated the high quality of service. Customers are secured by up to a € 20 000 indemnification amount.
In the world of forex broker companies being honored with awards from esteemed organizations or publications, count much for the company’s reputation. Such awards are usually mentioned with pride on the company website.
Olymp Trade Awards and Recognition
OLYMP TRADE has accumulated the following awards during its years of service to traders:
➡️ Best Financial Broker at the CPA Life Awards in 2017
➡️ Best Trading Platform at Le Fonti in 2016
➡️ Best Broker at KROUFR Awards in 2016
➡️ The Fastest Growing Broker at ShowFx World in 2016
➡️ Best Broker at Forex Expo in 2017
➡️ Innovative broker at IAFT Awards in 2017
➡️ Best Trading Platform at Le Fonti in 2018
➡️ Best Trading Platform at The Forex Awards in 2018
➡️ Best traders FB community in Thailand at Traders Fair in 2018
Olymp Trade Account Types
A forex account is a trading account held by a trader with a company like OLYMP TRADE, that is issued with the primary purpose of trading through its platforms.
Usually, the number and type of accounts that a trader can open with a broker company differ according to the country in which the brokerage operates, the country of residence of the trader, and the regulatory authorities under whose jurisdiction it operates.
Accounts usually differ in the way spreads or commissions are applied, what minimum deposit is needed to open that type of account, and certain services or advantages that account holders may get access to.
In the case of Muslim customers, special Islamic accounts, that is swap-free accounts, are offered that mirror the other account types, but which operate in accordance with Shariah law.
Olymp Trade Account Features
Demo Account
Standard Account
VIP Account
VIP account holders may make trades up to a maximum of £5 000, and they also can access a VIP consultant who can provide advice on which trades to make. These consultants are experienced, financial analysts. VIP account holders can also access more training tools than those available to standard account holders.
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Olymp Trade Deposit fees and deposit methods
Olymp Trade Sign-up Bonus
Forex brokers often lure new traders with offers of deposit bonuses. This can be useful, but it is essential to discern what the conditions are to really benefit from a bonus.
The bonus usually compensates traders for choosing a certain broker, since once the account is active, the trader will have the same expenses as any other. The bonus usually only starts giving some expenses back to the trader once the person has proven himself as an active trader.
Hence, although no deposit bonuses are a great way to help you start trading, the terms to benefit from it often require trading with such a high volume before you can withdraw profits, that it may not be worthwhile.
The European Securities and Markets Authority (ESMA) has also recently placed investor protection measures on the marketing, distribution, or sale of CFDs which prevent brokers to provide the retail client with a payment, monetary or excluded non-monetary benefit in relation to the marketing, distribution or sale of a CFD, thus ruling out the offering of such bonuses.
According to the company website and other sources, OLYMP TRADE traders have access to bonuses from 20% to 50% for making deposits. The bigger the amount, the larger the bonus. It is not clear what the withdrawal conditions are within this agreement.
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Olymp Trade Markets, Products, and Instruments
Forex trading, or currency or FX trading, involves the currency exchange market where individuals, companies, and financial institutions exchange currencies for one another at floating rates.
Commodities:
As with currency exchange markets, commodity markets offer trading in contract-based tradable goods.
Indices:
Equity or stock indices can represent a specific set of the largest companies of a nation or they can represent a specific stock market. It is actual stock market indexes that measure the value of a specific section of a stock market.
Precious metals:
This involves the trading of gold, silver, and other precious metals as hard commodities that are contract-based tradable.
Energy:
The high volatility of energy prices due to political, environmental, and several other factors, is a typical feature of this product, making it a popular trading choice.
Cryptocurrencies:
Tradable cryptocurrencies include the following:
➡️ Bitcoin (BTC) is the digital currency with the largest market capitalization and price levels and dominates 50% of the total crypto market cap.
➡️ Litecoin (LTC) is similar to Bitcoin but differs in terms of scalability.
➡️ Ethereum (ETH) is the second-largest cryptocurrency after Bitcoin and allows developers to create smart contracts on a platform.
➡️ Ripple (RPL) is popular among big banks with the Ripple network a next-generation real-time gross settlement system.
➡️ Bitcoin Cash (BCH) was created as a new version of the blockchain with different rules.
OLYMP TRADE offers different instruments depending on where a trader resides, but in general, traders can trade Commodities, Stocks, Indices, ETFs, Currencies, and Cryptocurrencies.
Olymp Trade Customer Support
Olymp Trade Customer Reviews – TrustPilot
my opinion about the trading platform
I want to write my opinion about the trading platform.
Apart from being a reliable broker with a solid customer security system, this company provides an excellent tool for trading. I am talking about FTT. For those who don’t know what FTT is on this company’s website.
What I want to say is that I like the benefits that come with this trading mode.
Conclusion
OLYMP TRADE is a popular broker with an intuitive user interface that makes trading easy. Its benefits include attractive spreads, leverages of up to 1:400, multilingual support, the availability of MT4, many assets to choose from, low minimum deposits, and a user-friendly mobile app.
