What is Olymp trade?
Olymp Trade is an online digital options broker based in St. Vincent and the Grenadines. The registration address can be found in the User Agreement. Launched in 2014, it’s one of the fairly new digital options brokers from St. Vincent and the Grenadines. In February 2016, Olymp Trade became a member of the International Financial Commission (FinaCom) and was awarded a membership certificate. As a third party regulator, FinaCom’s role is to offer traders security against fraudulent brokers.
Olymp Trade: a scam or legit
online digital options broker? Being fully regulated is one of the main factors to look at when trying to determine whether a digital options broker is legit or a scam. As a trader, you want to know that your funds are insured and, any problems you encounter while trading on a particular platform will be resolved.
Olymp Trade which country Initially,
Olymp Trade offered their services to traders from Russia and some Asian countries. However, over recent years, they have increased their assets offering and attracted traders from countries primarily in India, Pakistan, the Middle East, North Africa, Latin America and Southeast Asia. The broker cannot offer its services to citizens from many countries including the US and many European nations. Other than that, we found that it is a good place to trade.
Olymp Trade Demo account
New traders are provided with a demo account that’s loaded with RUB 10,000. They’re also provided with several learning resources that include video, webinars and a downloadable eBook. Information regarding how to use the platform is provided in a variety of pages such as the FAQ and terms. These resources are available to everyone regardless of the account type they hold.
profits and limit losses
Volatile markets such as cryptocurrencies are quite unpredictable. Trends can reverse suddenly. In such scenarios, you’ll want to take your profits before a winning trade turns to a losing one. On the other hand, you’ll want to limit your losses in case your speculation wasn’t correct. Olymp Trade provides features for this. These features can be manually set using the settings section in your personal account.
Commissions and effective returns
Olymp Trade does not charge commissions or fees on trades placed or withdrawals. This way, you get to keep most of what you’ve earned. Their effective returns are also quite good. Standard account holders can up to 80% on successful trades while this goes up to 90% for VIP account holders.
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