Olymp Trade South Africa

Olymp Trade is a multi-asset trading platform that is owned by Smartex International Ltd in Seychelles and Frandom in Cyprus. It was launched in 2014 and is regulated by FMRRC, which makes it a viable option for most traders. Olymp Trade offers CFDs, Forex, cryptocurrencies and options. It is quite different from other platforms as they offer an extensive range of assets. Also, another reason why Olymptrade is uniquely different from other financial services, is its low entry level & free demo account available for every trader.

Olymp Trade Platform

Introduction

Trading at Olymp is quite interesting as you get to enjoy trading with a deposit as low as $10. Additionally, the minimum trade you can make is $1. Clearly, with this kind of figures, it seems unlikely that they place their interests in the big time traders. That said, in this review, we will take an in-depth view of Olymp Trade and some of the key factors that make it unique. This review will uncover why this platform is different from competitors, how its simplified system makes it unique, and the different types of accounts and bonuses available. However, before we take a peek at these highlights, let’s take a look at its functionality and how you can open an account and start trading.

Is Olymp Trade reliable?

How Olymp Trade Works

Olymptrade simply offers an efficient trading method that has proven to work on the majority of the trading platforms. This method enables the player to make predictions on the different types of markets or assets available on the platform. If you choose to trade on currencies, you are simply required to click on the rise or fall direction to make your predictions. You will find a trading chart on the left side of your screen and several added features such as technical indicators and analysis.

Additionally, at the bottom of the screen, you will find a trading history that will enable you to have a quick overview of the market position with it first glimpse. Nonetheless, before you successfully conduct any trade, you need to be open an account. Whether it’s a demo account or a real account, you will have to log in and register as a member. So, how do you go about this?

How To Open A Demo Account And Start Trading

Before you decide to open an account at Olymp Trade, you should know that there are two types of account available. You can either choose to open a demo account or a standard account. Let’s take a peek and find out the main difference.

  • Demo account

Even the most professional player started as a beginner, right? Of course, a beginner at any new trading platform starts with a demo account. It is necessary to first register with a demo account and proceed to the real money account when you are fully equipped with the necessary trading skills. So, how do you open a demo account? Below is a step-by-step guide to help you through the registration process. Follow these steps to successfully attain a demo account at Olymp Trade.

  1. Step #1 - Visit Olymp Trade’s official website.
  2. Step #2 - Click “open a new account”.
  3. Step #3 - Sign in as a member and confirm with your email address.
  4. Step #4 - Confirm the terms and condition and choose the demo account option to start trading.

You can utilize the given virtual money in your demo account for practice.

Trader status

  • Standard account

This is simply an advanced demo account. However, to participate in this platform, there are several conditions that should be met. Firstly, you are required to make a minimum deposit of $10. This deposit will grant you access to a whopping $10,000 as virtual money in your demo account.

Trade Types And Payouts

Typically, many companies offer 6 or 7 types of trading options. They include high/low or call/put options, one touch and long-term, and ladders and pairs. However, with Olymp Trade, there is only one type of trade, which is basic or high/low trade. To help you get a good understanding of these options, let’s take a detailed look at its high/low option.

  • High/low options

When you have a minimum of $10 as your deposit and an option to only trade high or low, it acts as the perfect chance for you, especially if you are a beginner. Nonetheless, if you are a pro, there is an even greater benefit as you will get to choose your gold or silver, currency pairs, or your desired assets and start trading with a minimum amount of as low as $1. Although the expiry times are limited for only 24 hours, you get to enjoy their numerous options

Design And Layout

If you are a fan of glamor and design, you will definitely love the design and layout incorporated in Olymp Trade. Its buttons and navigation keys are strategically placed to enhance beauty and simplicity. With their desktop version, the first notable feature is the massive trade chart seems to cover more half of the page. It has clean lines and a timely response to ensure your trading experience is top-notch. On its right side, you will find an up and down navigation keys colored green and red respectively. Below it is a timing and amount section strategically placed alongside the massive trading chart.

To keep track of your trading history, the website has a separate section below the chart. You get real-time information on your open or closed trades. Further, you can initiate a chat with the support team at the very bottom of the page. If you are a VIP member, you can chat with your personal VIP Manager at the bottom right-hand side of the page. Its sleek design and layout will make you love everything about Olymp Trade even before you start trading.

Olymp Trade Unique Features

Clearly, you won’t miss one or two things that make Olymp Trade quite an exceptional trading platform. The most notable thing, from the moment you set your eyes on the platform, is its uniqueness. There is no doubt Olymptrade is definitely different from the majority of the platforms. Topping the list is its trading tools. It has quite a number of trading tools and resources that work on enhancing their client’s trading abilities.

Additionally, the education section has numerous materials to guide new traders on how to successfully make a trade. Further, there is a free ebook, webinars, and interactive tutorials where traders can access all the information they need about trading. This information is absolutely and will only take 1 or 2 seconds to download them.

Academy

Olymp Trade Mobile Platform

You haven’t traded with an awesome mobile platform until you try Olymp Trade. Of course, with the current trading trend, you will need a mobile app that will be fast, reliable, responsive, and up-to-date. Olymptrade understands the importance of technology, in the current digital world, and, therefore, provides a reliable mobile app with an up-to-date functionality that is compatible with both iOS and Android devices. This application is more-of-the-same as its desktop version but has several additional options that improve on its accessibilities and responsiveness.

Olymp Trade Mobile App

Olymptrade Academy

If you want to learn and trade with the pros, Olymp Trade Academy is the place to be. The platform offers a learning institution where beginners and professional traders can sharpen their skills at a reasonable fee. The Academy is run by professional traders who ensure you are updated with the latest skills required in the trading world.

Deposit And Withdrawal

Making a deposit or withdrawal at Olymp Trade is quite easy and precise. If you want to enjoy quick transactions in this platform, it is advisable to use e-wallets. Also, to enjoy these services without difficulties, ensure your trading account if fully verified. Below is a highlight of their payment options and their corresponding minimum and maximum limits.

  • Deposit

Payment option

Maximum limit

Processing time

Visa

No limit

24 hours

Neteller

No limit

24 hours

Skrill

No limit

24 hours

Webmoney

No limit

1-5 business days

Qiwi

No limit

1-5 business days

Wire Transfer

No limit

1-5 business days

  • Withdrawal

Payment option

Maximum limit

Processing time

Visa

$10,000

24 hours

Neteller

$10,000

24 hours

Skrill

$10,000

24 hours

Webmoney

$10,000

1-5 business days

Qiwi

$10,000

1-5 business days

Bank Transfer

$10,000

1-5 business days

How to deposit and withdraw money?

Customer Care Support

This is one of the highest rated features in Olymp Trade. Their customer care service is quite exceptional as you get to enjoy the full menu options from emails, support forums, telephone numbers and many more. They operate 24 a day via email, phone numbers, or live chat. With Olymptrade, you can be guaranteed they will hit you back immediately or after some few minutes.

Frequently Asked Questions

  • Is Olymp Trade Legit?

Yes, it is 100% legit. You don’t have to worry about being scammed - this platform is checked and vetted by a highly experienced team.

  • What Bonus Is Available For New Players?

Olymp Trade specializes mostly on the entry level by providing their clients with a minimum deposit of just $10. However, although they do not offer lots of attractive incentives, they reward their clients with occasional bonuses from time to time plus additional rewards for referrals.

VIP Accounts are available for VIP Traders. To become a VIP a one-time deposit of $2 000 or 2000 euro, depending on account currency.

Become VIP

VIP Traders’ benefits include personal VIP consultant, private strategies and webinars, increased profit on a trade – up to 92% and risk-free trades.

Benefits of VIP account

  • What Is The Minimum Deposit?

With a minimum deposit of just $10, you get to enjoy trading with Olymp Trade. Further, you get access to $10,000 as virtual money in your demo account. The minimum trade you can make at Olymp Trade is $1. Indeed, there is no better way to get acquainted at any trading platform than Olymp Trade’s $1 trade and a free demo account.

  • I forgot my password, how do I reset?

Click on the “forgot password” and a reset link will be sent to your registered email. Use the link to set a new password and continue trading with Olymp.

  • Do they have a mobile/tablet app?

Yes. Olymp Trade has one of the best mobile applications in the market. You can find it in the Google play store or iTunes.

  • Can I withdraw funds from my demo account?

Unfortunately, you cannot withdraw the virtual money in your demo account. This amount is used for your practice and you will have to make a deposit in your real account and make a successful trade to enjoy withdrawals.

  • Can I open another account?

No. Olymp Trade limits its clients to one account per person.

  • Contacts

Hotlines: Cape Town, South Africa +27 (21) 1003880
Email: [email protected]
Live chat: Yes

  • Customer Support Languages

English, Russian, Turkish, Spanish, Portuguese, Thai, Malaysian, Vietnamese, Indonesian.

Conclusion

Based on the platform’s prognosis, there is no doubt Olymp Trade is a huge player in the FX, CFD and options marketplace. In addition, their approach towards the new and inexperienced trader is amazing. If you are struggling to find your kicks in the trading world, this is definitely the place to be. You will enjoy trading with as low as $1 and training from their academy. Although it might be more focused on the new trader or anyone looking for a great first-time trading site, it is quite awesome for an experienced trader looking to make more money. So, do you want to start out and make money as a trader? Visit Olymp's official website and give a shot.

Pros & Cons

Benefits

  • It has a very low minimum deposit
  • Its customer care support is outstanding
  • Offers VIP Program, including risk-free trade incentives & personal cunsultant
  • It has a trading academy

Drawbacks

  • It has limited assets