Jan 16 2021
In the trading realm, it is of utmost importance for investors to pick out the perfect broker. The service provider you choose as an investor could be the difference between a successful trading career and a future of regret. For this reason, a lot of thought has to be put into selecting a trading broker. Potential investors and trading enthusiasts alike should thoroughly scrutinize any broker they consider using before signing up. Doing this will enable them to gauge whether or not a certain broker is right for them. Moreover, this helps investors get a better understanding of the platform they intend to use for trading.
When speaking of trade brokers, very few platforms can be ranked in the same caliber as Olymp Trade. It's among the most popular trading brokers in the world. The company established itself as a fast-growing trading platform ever since its inception in 2014. Olymp Trade is an IFC regulated online trading platform that offers trading in indices, stocks, commodities, cryptocurrencies, and currency pairs. With close to 30,000 investors trading on the platform every day, Olymp trade has a commanding position in the sector. Still, to help you decide if Olymp Trade is best for you, here's a look at what the platform has to offer.
Regulations and Certification
When looking for a trading broker, one of the most crucial things to check is how the potential brokers are regulated and licensed. Brokers that are well regulated by relevant government bodies operate transparently; thus, such platforms are less likely to rob you of your hard-earned money. Olymp Trade is regulated by the International Financial Commission (IFC). Even so, there have been investors who have questioned the legitimacy of IFC. Therefore, it would be shrewd to conduct further research before committing to the broker.
There are several different ways to deposit and withdraw funds from the Olymp Trade platform.
Investors can deposit funds using various methods, including the use of debit and credit cards, bank wire transfers, Skrill, Neteller, and the use of cryptocurrencies. Deposits are usually processed instantaneously, with the minimum deposit being 10 dollars. However, bank wire transfers may take several hours to process.
An investor can only make withdrawals using the same method they used for depositing. Most withdrawals get processed on the same day except for bank wire transfers that can take up to three business days.
Types of Trades
Although there are numerous different trade types in the market, Olymp trade only offers two types.
High/ Low Trades
The only thing investors have to do in high/ low trades is correctly predicting whether the underlying asset will rise or fall when the option expires. Given that Olymp Trade has over 70 assets to choose from, investors could potentially have lucrative returns with this trade.
60 Second Trades
As the name suggests, these trades have a 60-second expiry time. Therefore, traders need to use strategy to make the right call before a single minute elapse.
Benefits of Using Olymp Trade
There are tons of benefits that come from using Olymp Trade for trading. The platform has a low minimum deposit amount, a variety of payment methods is provided in multiple languages, and supports MT4 trading. The platform also has a user-friendly interface and an interactive mobile app for trading while on the go.
Drawbacks of Using Olymp Trade
Despite having great qualities and amazing features, there are also a few downsides of Olymp Trade. For example, there are several issues when making withdrawals for non-verified accounts. Also, the platform only offers two types of accounts and has unclear terms concerning their bonuses. Lastly, there have been some concerns about dubious regulations by the platform.
Olymp Trade is one of the most popular trading platforms in the world. The company offers exemplary services to its clients and has numerous assets to choose from. Investors can check out the review above to decide whether the platform is right for their trading needs.