The online trading carries numerous dormant risks. Nevertheless, traders are set on making a profit no matter how high are the risks or the probability of loss. Thereby, the profitable side of the trading industry catches the attention of seasoned traders as much as amateurs. With a wide variety of exchanges and robots, online trading becomes increasingly popular and accessible. Furthermore, platforms and bots are frequently ranked and reviewed, helping traders to facilitate the selection process. Ranking and reviews of exchange platforms, like the Olymptrade Forex trading platform, help to clarify the fundamental performance characteristics and degrees of operational transparency. Investors can find out the basic information about the platform through this Olymptrade Forex review. Apart from sharing useful insights, it will deliver the information on the basic characteristics and certain features of the operation.
Olymptrade Forex Site Overview
Since the company has been on the market for six years, it managed to earn the trust of the trading community and provide services that perfectly meet the needs of investors. Besides, the platform regularly attracts numerous traders and improves the level of service. As a result, the company has been able to become the number one choice for foreign exchange enthusiasts worldwide. Besides trading currency pairs, the company offers indices, stocks, commodities, cryptocurrencies, and exchange-traded funds. Through the reliability and veracity of its operations, the platform made its way to the top, simultaneously improving its performance. Today, the foreign exchange is globally recognized, as confirmed by its numerous trading rewards.
- Trustworthiness. Given that the platform is an approved member of IFC, it warrants the safety of personal information and security of trading operations. Besides, the company established a compensation fund available to every trader facing illegal activities.
- Deposit Volume. The platform does not require significant investments. Since the lowest deposit limit is $10, the foreign exchange remains available to traders worldwide.
- Educational Materials. The exchange does not focus only on making a profit. Instead, it educates traders by providing access to the relevant information and tips on trading strategies. The availability of educational resources like webinars, interactive courses, and video tutorials help traders keep abreast of the latest trends in the industry.
Naturally, in contrast to other exchanges, the platform catches the eye because of its customization features and user-friendly design. Given that the platform was developed by the team of expert developers and investment analysts, the technical settings are tailored to meet the requirements of seasoned experts and beginners. In other words, the capabilities of the platform greatly facilitate the visualization and understanding of the trading details. Multiple features like types of charts, color schemes, oscillators, time frames, and other indicators enhance the accuracy of chart reading. In this particular case, time frames stand for the pricing schedules. In a nutshell, a 10-minute time frame, for instance, illustrates the price changes during a specific period.
When it comes to customer support, the platform regularly improves its service quality and adds additional languages. Apart from offering a now standard 24/7 customer support, the company provides timely and attentive services.
As for the registration process, it is free for all the platform users. Moreover, after the registration is complete, the platform rewards 10,000 virtual currency units as the Olymptrade Forex bonus. Furthermore, every trader has an opportunity to set up and use a demo account. All the demo accounts do not have expiration dates and can be used anytime.
Minimum deposit threshold: $10
Single trade not to surpass: $2,000 for standard account holders
$5,000 for VIP account holders
Minimum withdrawal: $10, no withdrawal fees
VIP account upgrade: available after a $2,000+ deposit
Payouts: shall apply only to successful trades;
82% for standard accounts
90% for VIP accounts
Payment Methods & Withdrawal
When it comes to withdrawals and deposits, the company offers numerous payment options to satisfy the requirements of investors. Traders can choose any payment method listed below.
- Skrill, WebMoney, Bitcoin wallets, Qiwi, Yandex Money, Neteller
- Visa or MasterCard
- Boleto for users from Brazil
As for withdrawals, the total waiting time is usually less than or equal to three business days. The company, however, has strict rules when it comes to completing financial operations on time. It should also be mentioned that the waiting time is different for standard accounts and VIP accounts. While VIP account holders usually wait for a couple of hours, standard account holders have to wait for one or two business days.
To use the platform and start trading, there is no need to download the software. While the lifestyle of some investors might require specific software for trading on the move, the website offers all the tools and features for successful trading operations. For on-the-go traders, there is a mobile app that offers a smart trading experience.
Olymptrade Forex Scam or Not?
The positive outcomes of binary options trading depend solely on the correctness of predictions. Clearly, there are specific limitations to such trading operations. With this platform, the expiry time varies from one minute to two or three hours. Consequently, fixed expiry times might cause doubts about the authenticity and reliability of the platform. Given that short expiry times are often associated with considerable risks, many investors theorize that the platform might be a scam. The company, however, regularly proves its reliability and transparency. For example, the platform does not allow the utilization of automatic trading bots or any other substitutes for manual trading. Therefore, the growing amount of active platform users and profitable cases prove the reliability of the company.
Even though there are numerous pros and cons to using the platform, investors remain loyal and rank it as the first-choice trading option. Aside from the welcome bonuses and educational materials, the company established ideal conditions for successful trades. As a result, the established security level and the performance of the platform indicate the absence of its involvement in illegal activities.