OLYMPTRADE: Real or Fake?

Olymp Trade has been an online broker since 2014. Olymp Trade joined the IFC in 2016. Olymp Trade received the 2017 Best Options Broker Award at the Forex Expo and the 2017 CPA Life Best Financial Broker Award. Olymp Trade's official website does not show any regulatory information.

Market Instruments

Olymp Trade offers traders a series of financial instruments, including Forex currency pairs, commodities, indices, stocks, cryptocurrencies, exchange-traded funds, and OTC.

Leverage & Accounts

To meet the investment needs and trading experience of different investors, Olymp Trade offers two different types of accounts: Standard and Premium. Olymp Trade offers maximum trading leverage of 1:400, 1:30 for the most popular currency pairs, and 1:20 for minor currency pairs.

Spreads & Commissions

There is no detailed information about spreads on the official Olymp Trade website. By testing a standard demo account, the spread on EURUSD is around 1.1 pips. Olymp Trade charges a fixed rate of overnight fees for overnight trades, up to 15% of the total investment amount. For accounts that have been inactive for 180 days, Olymp Trade charges a monthly fee of $10.

Trading Platform

Olymp Trade trading platform pages are easy to navigate with a real focus on user experience. Olymp Trade supports web, desktop applications (for Windows and Mac), and smartphones/tablets (for Android/iOS).

Deposit & Withdrawal

Olymp Trade welcomes a variety of deposit and withdrawal methods, mainly bank cards, credit cards, UnionPay, Bitcoin, TEDA, NETELLER, Skrill, Perfect Money, WebMoney

Trading Hour

It is possible to access the Olymp Trade website 24 hours a day, seven days a week, 365 days per year. Essentially, investors can trade whenever (and wherever) they see fit via mobile and desktop devices. It is, however, worth mentioning that the available markets are not open 24/7.

Customer Support

Olymp Trade customer support is available 24/7 via the following means:

• Phone: +84 2844 581 413

• Email: news@olymptrade.com

• Web: olymptrade.com

Complaints

According to WikiFX, Olymptrde has 61 pieces of complaints. Also, we found it to be an unregulated broker with a low score. Another red flag is that it is on the investor alert list of the Securities Commission Malaysia.

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