Olymp Trade Deposit and Withdrawal In Detail | $0 Withdrawal Fees

Pros

Cons

  • Various deposit and withdrawal methods including bank transfers, credit cards, cryptocurrencies, and electronic wallets.
  • $0 fees on most of the deposit and withdrawal methods
  • Fast deposit and withdrawal

High fees for withdrawals using bank transfers

Introduction

Olymp Trade is a new forex and CFD broker that’s founded in 2014 and has over 25,000 clients daily. It also has a number of other instruments like commodities, stocks and cryptocurrencies.

Account Currencies

The Olymp Trade account has two main currencies which are the USD and EUR.

Notes:

  • Although both deposit and withdrawals are free of charge, you should make the deposit using the same method of your initial deposit.
  • You will not be charged with conversion fees if your account has the same currency with your bank account or when you trade assets with the same currency of your account.
  • If you want to avoid being charged with conversion fees, you can open a multi-currency bank account at a digital bank.

Deposit

Olymp Trade does provide a variety of options for depositing money. The following table shows the fees and commissions of each option.

Olymp Trade Deposit Options

 

Olymp Trade

Credit cards

Yes

Bank Transfers

Yes

Electronic wallet

Yes

Cryptocurrency

Yes

 

Olymp Trade also supports depositing using different methods such that:

  • Paysafe (formerly Skrill)
  • Neteller

Fees

There are no deposit fees on any transferring method, but your bank may charge you with a fee of transferring funds

Time

Deposits are done instantly on all of the above methods although the bank transfers may take several hours.

Withdrawal

Olymp Trade does provide a variety of options for withdrawing money, some of them have fees.

Olymp Trade Withdrawal Options and Fees

 

Olymp Trade

Bank Transfers

Yes

Credit cards

Yes

Electronic wallet

Yes

Fee

$0

Fees

Whatever the withdrawal amount you want to withdraw, Olymp Trade does not charge any fees. Please note that your bank may charge you with transferring fees.

Time

Withdrawal is done instantly on all withdrawal methods on Olymp Trade, but it may take several hours for bank transfers.

The good part is that there is rarely a number of users who wait till the next day to receive their money from Olymp Trade.

Note:

For security reasons, you may have to verify your identity with the payment department for the first time through the registered email or the phone number.

FAQs

a. How long does it take to verify my account?

– It takes about 5 days at most to verify your Olymp Trade account.

b. Can I open more than one trading account?

– Unfortunately, Olymp Trade does restrict that each person should have only one account. If there are multiple accounts under the same name, they can all be blocked.

c. Does Olymp Trade allow bot trading?

– No, Olymp Trade does not allow bot trading on the platform.

d. Does Olymp Trade give a bonus?

– Yes, does provide a %50 bonus on the first deposit.

e. Does Olymp Trade allow scalping?

– Yes, it does allow scalping.

 



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