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Olymp Trade Review in 2022: Is it SCAM or LEGIT broker?

Olymp Trade Review in 2022: Is it SCAM or LEGIT broker?
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Last Updated on May 16, 2022 by

Looking for an honest Olymp Trade review in 2022?

In this article, I will walk you through what I know and have experienced on this online trading platform.

I want you to have a full overview of the platform and understand the broker well.

This way, you can only make an informed decision whether it is worth your time or not.

Is that fair enough?

GET FREE $10,000 TO YOUR DEMO ACCOUNT

Olymp Trade offers you the unique opportunity to make money online fast and easy. With their platform, you can trade in stocks, currency pairs, commodities, and indices.

Plus, they offer a variety of bonuses and promotions that make trading even more profitable.

✅ Trade with $1
✅ Earn up to 90% profits
✅ Easy deposits
✅ Fast withdrawals

Watch this video: Olymp Trade Review 2022: Is it a Scam or Legit? (12mins 12 secs)

What is Olymp Trade?

Olymp Trade is an online trading platform.

It was founded in 2014 and ever since the broker has transformed the industry through series of fixed time trades.

This is a type of trade where you simply predict where the market is going to be after a specific time has passed.

And if your prediction is correct, you make a profit.

Olymp Trade has its headquarters in St. Vincent and the Grenadines.

Olymp Trade Review in 2022: Is Olymp Trade regulated?

Olymp Trade Kenya is monitored and licensed by International Financial Commission.

IFC is a pretty respected organization within the finance industry across the world.

This means one thing;

It is legal to trade on Olymp Trade Kenya and your capital is safe.

Olymp Trade Review in 2022: Size of the customer base

At the time of writing this Olymp Trade review 2021, the broker has over 23 million active traders.

These traders carry out over $131 million worth monthly.

Additionally, Olymp Trades draws most of its users from South America.

This doesn’t mean you cannot use Olymp Trade if you are not from South America.

In fact, Olymp Trade accept traders from anywhere in the world, except the following countries;

  • United States
  • New Zealand
  • Australia
  • Canada among other countries.
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Either way, first make sure Olymp Trade accepts traders from your country before opening an account.

Olymp Trade Review 2022: Deposit and trade size

What is the minimum deposit on Olymp Trade?

With just $10, you can start trading on the platform.

How about trade size?

Well, Olymp Trade has one of the lowest minimum trade sizes, $1 per trade.

This means that with the lowest deposit amount of $10 and trade size of $1, anyone can start trading on Olymp Trade.

Olymp Trade Review 2022: Trading styles and Payout

On this platform, you have access to two classic trading formats and time.

  • Classic trading format – with this trading style, your job is to pick a strike price and choose either up (buy) or down (sell). It offers a 82% payout rate.
  • Time format – this is known as Fixed Time Trades (FTT) on Olymp Trade. Here, the closing value of the market is compared to its opening value after the expiry period.  If your prediction is correct, you stand a chance to make up to 92%.

Olymp Trade Review 2022: Types of trading accounts

Olymp Trade has two types of trading accounts, regular and VIP.

  • Demo account – you get free $10,000 virtual funds to use in practice.
  • Regular account – has a $10 minimum deposit requirement and up to 82% payout rate. Moreover, the lowest trade size stands at $1 and not more than $2000 per trade.
  • VIP Olymp Trade – requires a $2000 minimum deposit and offers a 92% payout rate. Inside, you can place a max of $5000 per trade. Additionally, you get access to consultants and personalized trading training among other VIP treatments.

Olymp Trade Review 2022: Number of available financial markets

The broker gives you access to over 80 markets.

They range from;

  • Fixed Time Trades
  • Currencies
  • Gold
  • Stock
  • Commodities
  • Crypto among others.

As you can guess, it is almost impossible to miss the market you want within Olymp Trade.

GET FREE $10,000 TO YOUR DEMO ACCOUNT

Olymp Trade offers you the unique opportunity to make money online fast and easy. With their platform, you can trade in stocks, currency pairs, commodities, and indices.

Plus, they offer a variety of bonuses and promotions that make trading even more profitable.

✅ Trade with $1
✅ Earn up to 90% profits
✅ Easy deposits
✅ Fast withdrawals

Olymp Trade Review 2022: Depositing process

In order to start trading, you need to deposit funds in your account.

Fortunately, Olymp Trade accept several deposit methods which include;

  • E-wallets such as Skrill
  • Bank cards including credit cards
  • Mobile money

The depositing process is smooth and straightforward.

Better part?

The broker is constantly adding new payment methods.

Now, once you have deposited funds, the transfer typically takes a couple of minutes to days to reflect on your trading account, depending on the deposit method you used.

In fact, here is how to deposit to olymp trade Kenya mpesa

LEVERAGES

Leverages with Olymp Trade depend on what type of trade you are looking to do. Leverages can be as high as 1:400 for the most popular currency pairs. Other minor currency pairs have a leverage of 1:20.

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Olymp Trade Review 2022: Withdrawal process

After you have made money trading online, how fast can you get your money?

Well, this can take a few hours and up to 5 business days depending on your type of trading account and method of withdrawal.

For example;

If you have an Olymp Trade VIP account, you will enjoy priority withdrawals.

Here, your request will be in the account within 24 hours.

Olymp Trade Review 2022: Accessibility

Trading online is one of the best ways to make money online.

Why?

Because no matter where you are, you can be trading.

For example;

You can access Olymp Trade either through your laptop or phone.

How?

  • For your laptop, download the desktop app here.
  • If you are using Android, download the app here.
  • For iPhone users, check the iOS app here.

Better part?

Whether you are using Olymp Trade desktop or mobile app, they all come with a wide range of technical analysis tools and several types of market charts.

Fees

Olymp Trade also charges a fee for each trade you make. If you do not have enough money in your account, it will close your account.

Olymp Trade doesn’t charge any fees related to account maintenance. They may charge a monthly fee if you don’t make trades for 180 days. If you trade in forex, they will take their fee based on the amount of your trade and other factors, but it will be less than 15% or $10 per month.

Olymp Trade Review 2022: Trade period

The time period is simply how long the trade or opened position lasts before you make your money.

Luckily, Olymp Trade has the fastest trade time of 1 minute.

That means it takes only 60 seconds to make money on Olymp Trade.

While this may sound awesome (since you can make money fast), it is a recipe for disaster.

Why?

Because you can lose money in those 60 seconds.

As such, consider using other time frames and only place 1 min trades once you have perfected your craft.

GET FREE $10,000 TO YOUR DEMO ACCOUNT

Olymp Trade offers you the unique opportunity to make money online fast and easy. With their platform, you can trade in stocks, currency pairs, commodities, and indices.

Plus, they offer a variety of bonuses and promotions that make trading even more profitable.

✅ Trade with $1
✅ Earn up to 90% profits
✅ Easy deposits
✅ Fast withdrawals

FREE REGISTRATION

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Olymp Trade Review 2022: Customer service response

At some point in your trading career, you will run into issues.

And when that happens, you need quick and reliable customer support.

Lucky for you, Olymp Trade has agents that are quick to respond, and more than willing to help solve your problem.

Additionally, Olymp Trade has in-built chat tools that include social forums.

And as a beginner, you can use a lot of advice and help from the established traders.

You can learn from their mistakes and even copy their trading strategies.

 Summary of OlympTrade Details

✅ Broker OlympTrade

✅ Website URL – www.olymptrade.com

✅ Founded – 2014

✅ Trading Platform – Custom made platform

✅ Minimum 1st Deposit – $ 10

✅ Minimum Trade Amount – $ 1

✅ Maximum Trade Amount – $5000

✅ Bonus- FREE DEMO ACCOUNT

✅ Payout 82 % for Standard, 90 % for VIP accounts*

✅ Free Demo accounts – Yes 

✅ Regulated – Yes

✅ Regulation Body – Regulated by FinaCom

✅ Account Types – Standard (10-2000 USD Deposited), VIP (2000+ USD Deposited)

✅ Account Currency – USD, EUR, BRL

✅ US Traders Allowed – No

✅ Mobile Trading – Yes

✅ Tablet Trading – Yes

✅ Overall Score – 4.9 / 5

Trading Hours

You can access the Olymp Trade website any time and day. Investors can trade at any time they want with their mobile and desktop devices. However, the markets are open for trading for a limited number of hours. For example, London’s forex market is open from 3am-12pm GMT

Regulations 

Olymp Trade is regulated by the International Financial Commission (IFC) and headquartered in St. Vincent and the Grenadines.

But there are some concerns about this organization. You might want to look into it before you decide whether or not you would like to trade with Olymp Trade, because usually funds are only considered safe when a broker is regulated by an official body such as the UK Financial Conduct Authority (FCA).

Countries that accepted on Olymp Trade include;

Thailand, South Africa, Singapore, Hong Kong, India, United Arab Emirates, Saudi Arabia, Kuwait, Luxembourg, Qatar, Nigeria, and most other countries.

At the same time, traders can not use Olymp Trade from Canada, Australia, United States, Japan, Austria, Belgium, Bulgaria, Cyprus, Denmark, Finland, France, Germany, Ireland, Italy, Israel, Latvia, Lithuania, Netherlands, Norway, New Zealand, Portugal, Poland, Romania, Slovakia, El Salvador, Spain, Switzerland, Sweden, United Kingdom, Russian Federation.

GET FREE $10,000 TO YOUR DEMO ACCOUNT

Olymp Trade offers you the unique opportunity to make money online fast and easy. With their platform, you can trade in stocks, currency pairs, commodities, and indices.

Plus, they offer a variety of bonuses and promotions that make trading even more profitable.

✅ Trade with $1
✅ Earn up to 90% profits
✅ Easy deposits
✅ Fast withdrawals


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About the author

Kevin is a prolific business online writer with experience of 5+ years doing online business, marketing, and finance. His articles have been published on various websites such as Business Insider, Tuko Media, Adweek, among others. Kevin is passionate about helping people achieve success through his writing which he does by providing actionable tips for entrepreneurs to implement into their businesses.

8 comments

  1. I can confirm that it’s not a scam. I tried it and find its offer unique. I mean a combination of FTT and Forex on one platform. It’s very suitable and it encouraged me to try FTT. At first I was very skeptical about it but after some time I learned to work with expiration. It can be beneficial but expiration needs more practice than Forex.

    1. Oh yeah… needs a lot of practice and patience. I struggled with FTT as well in the beginning. But as soon as I started focusing on small wins, I earned consistent wins.

  2. 100% OLYMP IS NOT A SCAM

    Basically, this broker was the only broker where customer support responded quickly. All of the brokers which I had to work with was super slow in this case. while Olymp trade showed me the highest level of customer support service management. I think it’s a solid indication of a reliable broker, when the customer support satisfies the needs of a trader just within couple of minutes/hours in case of any questions or issues.

    In addition, I suppose that the system of multiplicators is attractive though. At least it is easier to me to calculate potential profit from a particular trade when I use multiplicators rather than leverages, idk, mb there are some traders who think the opposite.

  3. what u need u will find here as well as i do my trading strategies with my fav shares and indices u need to find out your stuff. i mean there are dozens of cool instruments that can be helpful for ur strategie

  4. I read on one website that this broker’s account protection is provided by two-factor authentication. What does that mean?

    1. Hello. 2-factor authentication (2FA) is a security process in which users provide two different authentication factors to verify themselves. 2FA is implemented to better protect both a user’s credentials and the resources the user can access. For instance, when enabled, you cannot log into your account without verifying through your phone.

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