Olympus

Note: Olympus' official website: https://www.olympusmarkets.com/ is currently inaccessible normally.

Founded in Vanuatu in 2018, Olympus is an offshore brokerage that offers a web-based platform for trading and comprehensive customer channels. However, this broker has an inaccessible website and a high minimum deposit. In addition, Olympus has been operating without any regulatory approval or licenses.

Pros and Cons

Is Olympus Legit?

Olympus operates without any legal regulatory oversight. In addition, Italy's CONSOB has issued a warning that the broker is unlicensed and engaged in fraudulent behavior, and therefore, you should avoid cooperating with the broker.

Leverage

The leverage offered by Olympus for any of its asset classes is limited to 1:5, which is very low in the industry and results in a low rate of return. Since this broker operates without regulations, you are advised to avoid trading with it.

Trading platform

Olympus only offers a basic web-based platform that doesn't even allow for basic operations like executing orders.

However, the real issue lies in Olympus' lack of regulation. Once you deposit any funds and engage in any trading, your money will likely be scammed and you may never get it back.

Deposit and withdrawal

Olympus claims to accept credit card payments and wire transfers, but in reality, the company only supports deposit through cryptocurrency. Due to the irreversible nature of this payment method, once funds are deposited, they are likely unrecoverable.