Olymp Trade: broker information
Olymp Trade is one of the first online trading platforms to actively promote itself. In 6 years of operation, the broker has attracted over 25 million users, created a multilingual platform (with 19 language settings), and started operating in 134 countries worldwide. At least that’s what is stated on the website. Since 2016, the intermediary has been a member of The Financial Commission, receiving a category “A”. This membership allows clients to expect certain compensations in case of significant losses.
The Olymp Trade brand is a project of Saledo Global LLC, registered in the state of Saint Vincent and the Grenadines. It is noted that this organization is licensed by the local regulator, but the license itself is not provided. Only the organization’s certificate from the Financial Commission is available for viewing. Contact information is also published: two mobile phone numbers, an email address, an online chat, and a form for direct inquiries on the website.
Websites owned by the broker:
- olymptrade.com,
- olymptrade-vn.com,
- ir-olymptrade.com,
- olymptrade-my.com,
- olymptrade-din.com,
- olymptrade-mys.com,
- uolinkopen.com.
This list is updated as new domains appear.
Olymp Trade trading conditions
This broker, unlike others, does not offer any tariffs or packages. Instead, a loyalty program has been created on the platform, where each client receives a special status with unique privileges. There are only 3 types of statuses:
- Starter. Clients of this rank receive basic platform functionality, up to 82% profitability, access to education, trading signals, and 10 indicators. The maximum commission at this level is 15%, the maximum trade volume is $2000, and the maximum number of open positions is 10.
- Advanced. The second status provides users with privileges such as 2 assets with up to 85% profitability, expedited fund withdrawals, a $3000 trade amount threshold, opening up to 20 trades simultaneously, a monthly consultation with an analyst, 11 ready trading strategies for ETF and Forex, special materials and closed webinars, a 10% discount on Forex trade fees.
- Expert. Users who deposit $2000 or more receive 6 assets with profitability up to 92%, risk-free Fixed Time trades, high priority for fund withdrawals, a trade amount threshold of $5000 (Fixed Time) and $4000 (Forex), opening up to 30 trades simultaneously, personalized training, a personal analyst, 27 reliable trading strategies, exclusive daily investment ideas, and up to 20% discounts on commissions.
Olymp Trade account funding and withdrawal
Olymp Trade accepts payments through bank cards and systems like WebMoney, Perfect Money, JCB, UnionPay, Neteller, Skrill, as well as cryptocurrencies Bitcoin, Ethereum, and Tether. The minimum deposit on the service is $10. Withdrawals starting from $10 are also possible. Information on limits, restrictions, fees, and other funding/withdrawal conditions is not published on the website. The processing time for withdrawal requests depends on the client’s status and ranges from a few hours to 2 days.
Conclusion
Olymp Trade has gained popularity online due to its vibrant advertising, favorable conditions, access to the Forex market, and user-friendly interface. However, the broker does not disclose its licenses, legal documents, and trading conditions (spreads, leverage, fees, and other indicators are unknown). We strongly recommend not engaging with the intermediary without studying its data and history of creation. It is also important to read reviews about the platform online and seek advice from a qualified market expert.