OlympTrade Broker Review 2020

OlympTrade Account Features

OlympTrade is a special broker in many ways. For example, this broker doesn’t have a variety of accounts to choose from. This might seem odd, but doing business like this also gives all traders equal chances to succeed in binary options trading. OlympTrade review showed that this review is about very democratic broker who is open to all traders. This conclusion is based on the fact that minimum deposit is only $10, which enables even complete beginners to experience binary options trading.

The minimum investment is only $1. Traders can choose between Euro and US dollars as their investment currency. In OlympTrade review, FBO team found out that currency is being selected during the registration process, and cannot be changed once it’s been selected.

OlympTrade broker is promising several important features to all traders who deposit. OlympTrade trading accounts are equipped with free analytics, personal account manager, easy access to financial markets and up to 80% win rate.

There is also OlympTrade demo account available but is reserved for registered users only. Demo account is equipped with 10,000 virtual funds which will be more than enough to get an insight into platform, test strategies etc. Demo account is always recommended; as even experienced traders need to get familiar with new platforms. Along with low deposit limit, this feature promises a broker that is a great choice for beginners in binary options trading as they can easily learn about binary options.

With every deposit, OlympTrade broker provides $10 initial bonus, and there are also additional bonuses available depending on the deposit. Unfortunately, during writing OlympTrade review and chatting with customer support, we found out that all additional information about bonuses and requested turnover is available only to registered traders, which seems a bit unprofessional.

OlympTrade Trading Software

OlympTrade uses its proprietary platform, and traders can choose among different currency pairs and commodities for trading. The only type of options available is classic high/low option, and expiry time may vary from 60 seconds to 3 hours. It could be said that this broker is a better choice for traders who prefer short expiry rates, and who are willing to accept higher risk, as short-term trading is a bit riskier, but it is also more profitable. No downloads are required, and all trading takes place in selected internet browser, on the trading platform.

OlympTrade platform is very easy to navigate and use. The chart is positioned on the right side of the platform, while space for placing trades is placed on the left. Bright colors are showing exactly what each element is for, so there is no confusion, even when it comes to inexperienced traders.

On the bottom of the trading interface, traders will find a table that contains all trades from the recent past. This gives them amazing overview over their trading history and previous decisions.

In OlympTrade review, we found how this broker has an Android app as well as an iOS app for iPhone devices, which is great for traders who prefer to trade on the go.

The website is well designed and navigated by drop-down menu bar on the right side. Terms and conditions can be accessed, as usual, from the bottom of the pages. Traders should have no difficulties finding all the information they need when trading with OlympTrade binary options broker.

OlympTrade Support Information

In OlympTrade review, broker was approached no different than in reviews of other brokers. It is very important to review customer support properly, as traders usually turn to them for all the necessary information.

Broker’s customer support can be reached in various ways. In OlympTrade review it has been found out they can be reached via phone, live chat and mail. During writing of this article, live chat customer support was tested. The agent got in touch with us quickly and tried to provide sufficient information. Important is that the agent never pushed us to register or make a deposit, but was simply delivering the required information and was very friendly and cooperative.

The platform is available in English, Russian, Polish, Portuguese and Thai. Several other languages would be welcomed, but this is a great place to start.

OlympTrade also shows that this broker has education section with texts and videos available for registered traders only. The beginners’ course takes only 15 minutes. There are also different strategies, and videos that provide further information. All learning materials can be found in OlympTrade Academy.

All other traders can use FAQ section that provides answers to essential questions. This is a great solution for traders who don’t want to chat with customer support or want to find answers on their own.

OlympTrade Payment Methods

OlympTrade broker is owned by Inlustris Ltd., aint Vincent and the Grenadines and all banking transactions are managed by Wallfort Limited, Cyprus. As already mentioned, it is regulated by Russian regulator FMRRC and they also joined the International Financial Commission (FinaCom) in 2016.

When it comes to depositing and withdrawing, traders can choose one among many methods: QIWI, Webmoney, Yandex, Visa or MasterCard. The banking method used for depositing should be also used for withdrawing. All withdrawals are processed within 5 working days. Traders should keep in mind that it sometimes takes longer for money to be visible on the external account due to different banking systems and legislation.

OlympTrade review showed how this broker allows a minimum $10 deposit, and the minimum withdrawal is $10 as well.

What is a bit unusual is that the withdrawal process is not thoroughly explained in one place. According to materials available on the website, some accounts can require special verification and authorization upon the request by the financial department. OlympTrader review noted how in that case, traders have to deliver certain documents.

The first document is coloured copy or scan of passport, and the second one is a colour copy or scan of international passport, driver’s license, utility bill… All documents are processed within one day after they are received by the financial department. In the end, traders get a notification letter whether the authorization was successful or not.