Among fans of binary options trading, the Olymp Trade broker is often mentioned.
Its popularity is based on an impressive market presence (6 years), a rather convenient terminal of our own design, a good assortment of trading pairs, round-the-clock online user support in 8 languages and, of course, the absence of problems with the withdrawal of earned funds.
In addition, Olymp Trade has won several awards in various categories of brokerage events, including Best Broker (Forex Expo 2017) and Best Trading Platform 2018 (The Forex Awards).
- What is Olymp Trade
- Registration on Olymp Trade
- Login to Olymp Trade Account
- How to Trade on Olymp Trade
- How to Make Money on Olymp Trade
- How to Deposit Your Olymp Trade Account Balance
- How to Withdraw Money from Olymp Trade
- Olymp Trade Training
- Reviews about Olymp Trade
What is Olymp Trade
Olymp Trade — an international platform for online binary options trading, launched in 2014 and initially focused on Russian users. Owned and managed by Inlustris Ltd., a company registered in the islands of Saint Vincent and the Grenadines. The current monthly turnover of trading on the site is about $ 170 million.
Official Olymp Trade website
Registration on Olymp Trade
To register on Olymp Trade, you need to follow three simple steps:
- Go to the official website of Olymp Trade.
- Fill out the registration form.
- Confirm your email address.
A more detailed process of creating a profile on this platform is presented below.
In it, you need to fill in all the fields (name, email, phone, password, currency), and also set a “checkmark” confirming the age of majority of the user and his consent to the terms of service.
Then you just have to click "Register" and wait for the letter from Olymp Trade to confirm your email address.
You can also use the login buttons via Facebook or Google to register with Olymp Trade. In this case, the broker will receive all the data necessary to open an account from the selected system, but you will need to confirm the mail in any case.
Login to Olymp Trade Account
To enter the Olymp Trade account you need:
- Click the "Login" button in the header of the site.
- Fill out the form with the necessary data.
- Click “Log In”.
This is a general outline. But if we examine this process in more detail, there are several nuances that we will discuss later.
After calling the login form through the appropriate button in the upper right corner of the Olymp Trade website, you need to enter the login (email) and password specified during registration.You will also need to go through Google captcha and click the "Login" button.
You can also enter the site through social network accounts, if this option was originally used when registering with Olymp Trade.
Immediately after entering the Olympus Trade account, the user’s account is loaded, a window with the current best offer to receive a bonus for replenishing the balance prevents looking around. You can use it, but it is worth considering that bonus funds cannot be withdrawn, but only used for trading (profit from them is available for withdrawal).
If you close this window, you will notice that most of the workspace is occupied by a constantly updated chart of the asset selected for trading (1). On the right side is the transaction processing area (2). At the top — information about the balance, as well as buttons for switching the type of account, deposit / withdraw funds and account settings (3).
On the left there is a vertical menu (4), the items of which call:
- Panel with information on open transactions and applications;
- Help (FAQ, knowledge base, materials for training, etc.);
- Chart and deals settings;
- The “More” section, through which you can go to replenishment and withdrawal operations, view the history of financial transactions, the Olympus Trade blog and analytical data (economic calendar and trading signals).
In addition, in the lower left corner of the chart there are buttons with which you can:
- Set the type of chart display (lines, candles, bars);
- Add indicators and trading strategies;
- Divide the workspace in half to observe the movements of the course and conduct transactions on two trading pairs at once.
How to Trade on Olymp Trade
How to trade on Olymp Trade:
- Choose a transaction type and a trading pair.
- Indicate all the necessary parameters (amount, duration).
- Choose the direction of the transaction (up or down).
- Wait for the order to close or close on its own (depending on its type).
Now consider trading on the Olymp Trade platform in detail.
You can trade on Olymp Trade using all popular devices — PCs, tablets and smartphones. For computers on the Olymp Trade website, the application of the same name and the MetaTrader4 terminal are offered for download. For gadgets there are mobile versions for Android and iOS.
But most of the users prefer to trade directly on the site through the web terminal, which is a proprietary development of Olymp Trade. We will consider it in our trading examples, of which there will be several - for each type of transaction that this broker offers users.
Binary Options on Olymp Trade
In order to open a transaction of this type on the Olymp Trade website, the first thing you need to do is go to the Options tab in the asset selection field. There from the list of trading pairs you need to choose one of the options currently available.
The list of trading assets can be sorted alphabetically, 24-hour price changes, profitability and categories (metals, indices, currencies, etc.).It is also possible to find a specific asset by name through the search bar.
Immediately after selecting an asset, its current chart is loaded and you can proceed to the transaction using the fields and buttons on the right panel.
The first line indicates the time after which the order will be closed. You can choose one of the proposed options, an arbitrary interval or specify the exact expiration time within the next 23 hours.
The next field indicates the amount that will be withdrawn from the account of the user Olympus Trade and used to open a transaction (at least $ 1). Then it remains only to choose the estimated direction of the rate change by the time the order is closed - up or down.
Before that, you can choose one of the available strike price options - the starting cost of the asset, in relation to which the correct forecast for the transaction will be evaluated. The choice of different values of this parameter allows you to change the ratio of profitability in the directions of opening an order.
After clicking on the red button (down) or green (up), a window will appear with detailed terms of the opened transaction, including indicating the potential profit size (up to 92%). If everything suits the client, Olimp Trade, he must confirm the opening of the position with the appropriate button.
At the time of transaction confirmation, the chart will display vertical lines indicating the time of its beginning and end, as well as horizontal — at the level of strike price. After this, the trader can only wait for the expiration of the order to find out whether it was profitable or unprofitable.
For example, if the asset rate at the time of expiration is higher than the strike price and the transaction was opened “up”, the user receives on his balance the initially invested amount plus interest rates.
If the forecast does not come true, he loses all the funds used to open the position. Details of the completed transaction can be found through the corresponding functionality on the panel to the left of the chart.
Forex Trading Mode on Olymp Trade
The second type of trade that Olymp Trade offers its customers is deals on the difference in the value of financial assets (Forex). In fact, these are not quite binary options, but a kind of margin trading, since there is the possibility of using leverage.
In addition, in the forex trading mode there are no restrictions on the time allotted for the transaction, but there is a liquidation of the position when a certain level of loss is achieved.
To use all the features of the Olympus Trade trading terminal in forex transactions, you need to enable three options in the settings:
After that, you can start trading forex assets. First, in the menu for choosing a trading pair, go to the “Forex” tab and select one of the options in the list that opens. As with options, they can be sorted by several parameters and categories.
After loading the chart of the selected asset, you can proceed to placing an order. In the first field from the top, indicate the amount to be invested in the transaction. Nearby is a leverage switch (multiplier). The more the value is chosen here, the greater the profit, and, of course, the risk.
Then, if desired, you can specify take profit — the value of profit, upon reaching which the transaction will automatically close. Another automation tool on the Olymp Trade trading platform is stop loss, which will close the position at the specified loss ratio.
If this field is left blank, the system itself will set a stop loss of 50% of the amount invested in the transaction in order to exclude its complete loss. Disable it in no way. It’s not possible to set the value yourself either. It turns out that in this type of transaction you can lose a maximum of 50% of the position. And this is one of the main differences between Olymp Trade and platforms with full margin trading.
The last step is to choose the direction of the transaction (up or down), once again check the correctness of all parameters and confirm its opening by the corresponding button.
The state of an open position can be observed on the chart, where the level of its opening and the current rate change is displayed, or through the “Transactions” tab on the side functional panel. You can close an order at any time without waiting for the take profit or stop loss to trigger.
Olymp Trade also offers the possibility of delayed opening of transactions with Forex assets. To do this, use the "Order" button, which will open a separate window for entering parameters for creating an order. Here you fill in the same data as when opening a regular position, but you also need to specify the time or price level at which the transaction will become active.
How to Make Money on Olymp Trade
How to make money on Olymp Trade consists of the following stages:
- Choose the right moment to open a position.
- Weigh the risks, determine the amount of the transaction and open it in one of the directions.
- Wait for the expiration of the order (for options) or independently close it upon reaching the desired level of profitability.
This is in general terms. If we consider the earnings for Olympus Trade in detail, there will be many nuances on which your profit will depend.
For example, you can add SMA, Parabolic, and Bollinger Bands (BB) to the chart. In this case, the potential points of entry into the transaction and its closure are determined by punctures of the upper and lower faces of BB. Also, choosing the right moment to open a position will help breaks in the Parabolic point contour. And the intersection of the SMA with the moving average Bollinger will confirm the change in direction of the local trend. In addition to using strategies on the chart, you need to develop and begin to apply your own set of financial rules that will help to avoid losing a deposit.
For example — you can not invest in one transaction more than 10% of the existing balance. In this case, after closing a losing trade, you will still have a lot of chances to get a plus. It is also worth avoiding trading in a tilt state (when you want to recoup after a major loss) and returning to transactions only “with a fresh mind”.
How to Deposit Your Olymp Trade Account Balance
How to deposit your Olymp Trade account:
- Go to the deposit page.
- Choose a payment method.
- Indicate the amount of deposit.
- Fill in the payment details.
- Confirm payment.
This process is described in more detail below.
The Olymp Trade website interface for replenishment of the account is opened using the “Replenish” button located in the upper right corner of the office or on the “More” tab in the left side panel.
On this page you need to choose one of the five available payment options - a bank card (Visa) or payment systems Neteller, FasaPay, WebMoney and Skrill.
Next, you need to specify the amount of replenishment and in the column "Bonus" select "Bonus upon payment" or "No bonus". In the first case, bonus funds will be credited to your account, the amount of which depends on the size of the main deposit. In the second — only the amount of replenishment indicated by you.
The minimum possible amount to deposit the account balance is $ 10, € 10 or 350 rubles, depending on the currency of the account.
After clicking the “Replenish” button, the standard form for entering card data will appear (if this payment method has been selected) or there will be a transition to the online terminal of the selected payment system. Usually, after the payment is completed, the money will be credited to the account of the Olympus Trade user within 1-2 minutes.
How to Withdraw Money from Olymp Trade
How to withdraw funds with Olymp Trade:
- Press the button “Withdraw”.
- Select a billing channel.
- Indicate the withdrawal amount and confirm the application.
True, some of the nuances in this process are all present. Therefore, we consider the withdrawal of money from Olympus Trade in more detail.
To go to the page for filling out an application for withdrawal of funds, you need to use the "Withdraw" button on the top or side panel.
After that, a list of available payment channels appears — only those options that were used to deposit funds to Olymp Trade are displayed. Choosing one of them, you need to specify the amount (minimum $ 10) and send a request for withdrawal.
The rules for using Olymp Trade indicate that the deadline for processing such applications is 5 business days. But, as a rule, money is withdrawn within a few minutes. In rare cases, there are delays of up to 24 hours. By the way, there are no commissions when withdrawing funds from Olymp Trade. There are also no restrictions on the amount withdrawn from the account balance.
Olymp Trade Training
If the virtual funds run out, you just need to click the "Deposit" button in the drop-down menu with balances and you will again have $ 10,000 in the demo account.
In addition, the Olymp Trade broker website has a Training section. Here, in addition to text theory, there are webinars in which the principles of options trading using various strategies and indicators are explained in simple language.
Training section at Olympus Trade There are also lessons on transactions with Forex assets, which discuss both general concepts and the most effective trading styles.
A careful study of training materials in conjunction with training on a demo account allows you to get the necessary level of skills to go to transactions using real money.
Reviews about Olymp Trade
Since the broker Olymp Trade has existed for a long time, a lot of reviews can be found on the network. It is natural that among them there are both positives and negatives.
You can, of course, make assumptions that the broker is manipulating quotes in order to close clients ’transactions at a loss (many reviews write about this) but in fact it is more likely about the lack of the proper level of trading skills. Some users honestly acknowledge this.
There are also reviews in which Olymp Trade is praised for a convenient terminal with many indicators, but at the same time they point to such unpleasant moments as a drop in the percentage of profitability of transactions after their opening. The described situation does occur, most often at times of high market volatility, but it is not natural. In general, Olymp Trade is one of those binary options brokers, the level of trust in which from the community of traders is at a fairly high level.