Olymp Trade Fees and Commissions Revealed

Pros

Cons

  • No deposit or withdrawal fees
  • No fees on account maintenance
  • No closing fees
  • Inactivity fee of $10/ month

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.

With the Olymp Trade broker you can invest online in a multitude of different financial instruments such as forex, CFD, ETFs, and cryptocurrencies.

This company, which has more than 6 years of experience in the sector, stands out for offering a professional and transparent service . The Olymp Trade group has a presence in a lot of countries and has various regulations, for example it is regulated by the IFC.

But, what is the cost of their services? Like other online brokers, Olymp Trade applies a series of fees, which represent their fees. If you want to know what are the most significant commissions for trading in Forex, and CFDs with this online broker, whether you are a client belong to the Latin American area, we invite you to read this article:

Fees

Olymp Trade fees may vary from account type to another. Please read the following sections for more information.

Olymp Trade fees may vary from account type to another. Please read the following sections for more information.

Olymp Trade has competitive fees in the market of trading with low commissions. The Olymp Fees is divided into 4 types:

  1. Deposit and Withdrawal Fees
  2. Trading Fees
  3. Closing Fees
  4. Account Service Fee
  5. Non-trading fees

Let’s dig deeper into each one of them.

Deposit and Withdrawal Fees

Olymp Trade is one of the very few brokerages that do not charge a deposit and withdrawal fees from their clients. This is considered very competitive nowadays as a lot of brokers put a withdrawal minimum amount and so on.

On the other hand, you should know that a lot of banks charge a fee when you transfer your funds with them. So, please check your bank before taking any action of depositing or withdrawal.

Trading Fees

The trading fees are calculated according to four main factors which are:

  • Trading amount
  • Multiplier
  • Market conditions
  • Specific conditions

The trading fees start from 1.1 pips as Olymp Trade charges vary from 0.8% to 15% of the total investment amount. The following image shows the commissions when trading forex pairs EURUSD with $100.

Olymp Trade Fees and Commissions Revealed

Olymp Trade – Commissions calculate

Disclaimer: CFDs have a high risk of losing money ra pidly. 79% of retail investor accounts lose money due to leverage when trading CFDs with this provider. CFDs are not complying with the islamic religion. And if you want to trade in CFDs you should consider a swap-free account to follow islamic rules. Learn more about CFDs for muslims.

Closing Fees

You will not find this kind of fee when trading with Olymp Trade.

Account Service Fee

A lot of banking holders and brokerages are charging these fees for maintenance, registrations, securities, and so on. The good part here is the Olymp Trade does not charge any service fees except for the inactivity fees after 180 days of inactivity.

Non-Trading Fees

  • Account fee: $0
  • Deposit fees: $0
  • Withdrawal fees: $0
  • Inactivity fee: $10 per month after 180 days of inactivity and no deposit or withdrawal is made during this period.

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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