Olymp Trade: Everything You Need to Know

Olymp Trade: Everything You Need to Know

Olymp Trade is an online broker that offers investors the ability to trade stocks, futures, options and cryptocurrencies from their interface. It’s based out of Cyprus and has been in business since 2010, but it’s new to North America as of 2018. If you have any questions about whether or not you should use Olymp Trade, then this guide will answer all of your questions to help you make an informed decision on your options trading platform.

Types of trading accounts

The three different types of trading accounts offered by OlympTrade are regular, pro and jr account. The regular account is recommended for beginners and those who are less active in trading, while the pro account is geared towards experienced traders looking for the best possible performance at a lower commission. Lastly, the jr account is suited for children between 13-18 years old as well as people who don’t want any exposure to risk and trade with purely demo funds. 

Regular Account – This option offers traders’ all features available on our platform including platform integration and extensive analytical tools but doesn’t include margin trading. This means trades can only be made using cash from the balance on one’s bank card or money transfer from their bank account. Pro Account – The Pro Account includes most features of the Regular Account but also includes access to margin trading, which allows traders to increase their buying power with borrowed funds. Our Margin Trading service gives you up to 1:2 leverage when opening positions. In addition, you have the opportunity to request funding when your current equity falls below certain limits (the initial margin requirement). For example, you may request a funding of $5,000 if your current equity reaches 40%. If successful in getting funded, your available equity will then become 60% instead of 40%. Junior account – The Junior account is suitable for children aged 13-18 years old and has no exposure whatsoever to risk and trade exclusively with demo funds.

Trading tools

The trading tools that OlympTrade offers are top-notch and will equip you with everything you need for successful trading. The platform itself is very user-friendly, with a variety of features that simplify the process. At the same time, OlympTrade has a substantial number of professional tools for traders at all levels. The most advanced features are reserved for pro traders only and include things like arbitrage analysis, signal alerts, and technical indicators. They also offer a demo account so you can practice your strategies before risking any of your own money. In terms of opening an account, it’s fairly easy to do so – just fill out the online form and deposit some funds in order to start trading right away.

Traders from around the world

It’s easy for traders in the United States to miss out on some of the most profitable trades. That’s why OlympTrade is open all the time and available for traders in the United States. They provide forex, CFDs, and stocks for trading, 24 hours a day. Plus, their security is outstanding with fully encrypted transfer codes that are sent out by SMS message as soon as you make your deposit or trade request, so no one can access your account information other than you. What more could you ask for?

Available cryptocurrencies

The range of available cryptocurrencies is constantly changing, with new coins and tokens being added or removed. At present, the following seven are the most popular choices on the platform: Bitcoin (BTC), Ethereum (ETH), Bitcoin Cash (BCH), Litecoin (LTC), Ripple XRP, Ethereum Classic(ETC) and Monero (XMR).

 *It should be noted that although these are the most commonly traded currencies on OlympTrade, it’s possible to buy other cryptocurrencies such as Stellar Lumens or NEO by exchanging them for one of the above.

Payments and withdrawals

The most important aspect for traders is the withdrawal process. OlympTrade offers a number of withdrawal options, including bank transfers, credit and debit cards, WebMoney, Skrill and Neteller. Different methods have different requirements for clearance time and may be subject to fees. Bank transfers are typically the quickest withdrawals but may require additional verification steps before the transfer is processed. Debit and credit card withdrawals can take up to two business days before they are fully processed. Other methods such as Skrill or Neteller could take up to five days depending on your payment method. If you prefer cash deposits at an ATM then you need to verify your account first in order for this option to be available.

Final thoughts

Olymptrade is a broker for binary options trading. A trader can make money by predicting whether the price of an asset will be higher or lower than its current value at a specified time. If the trader predicts correctly, they will earn the difference between the predicted and actual values multiplied by their bet size. Olymptrade is regulated in EU, Japan, Switzerland and Australia. The United States regulation status is unclear because of lack of evidence that they are not regulated in this country yet.