Olymp Trade Review

Olymp Trade is a digital options brand which started operations in 2014. It initially offered binary options contracts on FX pairs, stocks, commodities, metals, energies and indices. However, it has since rebranded its asset listing and expanded the same to include synthetic indices and cryptocurrencies. Olymp Trade also hosts the Quickler, a unique trade type that combines the excitement of fast-paced trading and a unique 5-second expiry.

I. Background and Company Overview of Olymp Trade

Olymp Trade is a winner of several awards. These include the World Business Outlook 2023 Awards for the Best Online Trading and Investment Platform, MENA Region and the Most Trusted Financial Broker LATAM. These awards are in addition to the 2021 World Finance Award for the Best Mobile Trading Platform, and the Best Investment Broker for 2021 according to the Forex Brokers Award.

With 17 awards in its kitty, the brand has other features that continue to attract retail traders in droves. Some of the features are:

• Clients of Olymp Trade are entitled to financial compensation of $20,000 in the unlikely event of broker insolvency, courtesy of its membership of the Financial Commission.
• There is a pending trades option which allows the user to set the most suitable price on which the trade will be executed.
• A first-time deposit bonus of between 20% and 50% is available for new users, depending on the account status (described below).

II. Trading Platforms and Tools

Olymp Trade has a number of trading applications that constitute the platforms via which its traders can access the digital options marketplace. These platforms are as follows:

• Desktop app
• Android app
• APK
• PWA

The desktop app is a downloadable platform which runs on MacOS computers, and Windows X32 and Windows X64 computers. You can set pending orders, top up open trades, set a trailing stop loss and use the multiplier tool. The platform also has several indicators for use in market analysis, and the platform also comes with a demo account facility.

The Android trading app is a mobile app found on the Google Play and Galaxy Store. It is custom-featured on Huawei and Xiaomi phones as well. This mobile trader is a free, fast and convenient way to trade. It is a full-featured platform with the same indicators as the desktop client, and also comes with a demo account.

The PWA is the webtrader application from Olymp Trade. It has a compatible display on the iOS and Android devices, and can be a substitute for those who do not want to download apps or whose phone storage memory is already full and cannot take on more apps. The application can be installed from the relevant URL on Google Chrome browser (Android) or Safari browser (iOS devices).

The Olymp Trade APK is the Olymp Trade Android Package Kit allows you to download and unpack the trading software on your Android device. This is an alternative download mechanism in case you are unsure if the version you are downloading from the Google Play store is genuine.

The following tools are available on Olymp Trade to enhance the trading experience of the firm's clients:

• The multiplier tool is a form of leverage offered by Olymp Trade in the typically unleveraged digital options market. You can use this tool to increase your payout beyond what was originally offered as a payout on that trade.
• Traders can take advantage of synthetic indices listed on Olymp Trade, which are open 7 days a week.
• Interactive charts with unique indicators can be used to analyse the markets, which is a first in an industry where interactive charts are not usually provided by brokers.

III. Account Types and Spreads

Every trader is given one live account. However, each live account has different statuses, which determine the extra perks that the user can enjoy. Three statuses are recognized:

• Starter
• Advanced
• Expert

The Starter is the most basic status and gives the user a 20% deposit bonus, the lowest of all status types. There is no access to personalised services. It is just a very basic status with no extras.

The Advanced status gives the user exclusive access to platform features not available to Starter users. Advanced users get a 30% deposit bonus and higher payouts than the Starter users.

The Expert status allows the trader to access a wide range of tools and features that support more personalised and complex trading styles. You get a personalised VIP consultant, risk-free trades and higher payouts. There are also higher bonuses; up to 50% of the first deposit.

IV. Contract Specifications

Here are the contract specifications on Olymp Trade.

• The minimum deposit amount is $10.
• All traders get $10,000 in refillable virtual currency in a demo account.
• The minimum trade amount is $1.
• All trades are unleveraged and traders have to come up with 100% of any invested sums. An exception is the multiplier which gives up to 300X buying power to the trader.

V. Security and Regulation

The Olymp Trade brand is owned and operated by Aollikus Limited, operating as a licenced financial dealer from Vanuatu where it is regulated and authorised by the Vanuatu Financial Services Commission (VFSC) with company number 40131. The company also operates an office in St. Vincent & Grenadines. The company is a member of the Financial Commission and the Financial Markets Association of Vanuatu.

Residents and citizens of the EEA countries, USA, UK, Japan, Belgium and Israel are prohibited from operating trading accounts with Olymp Trade.

VI. Customer Support and Education

You can reach the customer support desk on Olymp Trade using the following available channels:

• Phone: +(356) 2034 16 34 (Hotline available 24/7)
• Email: support-en@OlympTrade.com
• Facebook: facebook.com/OlympTradecom/
• Telegram: t.me/+mjmgYNZBLQIwMmQ0
• Twitter (X): twitter.com/OlympTrade
• Tiktok: tiktok.com/@OlympTradecom
• Live chat

Conclusion

Olymp Trade should be your logical choice if you want a platform where you can trade digital options, cryptos and synthetic indices from the same account. The multiplier is also an addition to the repertoire of tools available on Olymp Trade for its users.