Olymp Trade Pros & Cons | Get Information at a Glance

Introduction

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

In this article we’re addressing the main pros and cons of Olymp Trade in each broker aspect.

Olymp Trade

Pros

Cons

Safety

  • Regulated by IFC
  • +25 million user accounts
  • Not regulated by top-tier FCA or CySEC

Offering of Investments

  • Forex and CFD trading
  • Commodities, ETFs, real stocks, and crypto trading
  • No social trading

Account Opening

  • Fully digital
  • Fast and easy opening
  • Demo account option
  • Not available in the USA
  • No bot trading
  • No islamic account option

Fees and Commissions

  • No deposit or withdrawal fees
  • No fees on account maintenance
  • No closing fees
  • Inactivity fee of $10/ month after 180 days of inactivity

Deposit & Withdrawal

  • 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

Platforms and Languages

  • Available for web, mobile, and desktop
  • Beautiful design
  • User-friendly UI
  • Good charting tools
  • Good search function
  • Not available in MT4 or MT5 platforms
  • No category search
  • No price or signal alerts
  • No two-step verification

Research Tools

  • Good charting tools
  • Newsfeed
  • Forecasting tools
  • No fundamental data available

Customer Service

  • Phone support
  • Live chat
  • Email support
  • 24/7 customer support
  • None

Education

  • Wonderful demo account
  • Blog articles
  • Video tutorials
  • Guides and strategies
  • None

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.

If you want more information, please check out Olymp Trade Full Review.



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