Online trading is linked to countless potential risks. Traders, however, are determined to make a profit despite the high risk and probability of loss. Therefore, the lucrative side of the industry attracts the attention of expert traders just as much as beginners. With a wide selection of platforms and exchange bots, online trading becomes increasingly available. Besides, the bots and platforms are often reviewed and ranked to make it easier to pick the best ones. For instance, reviews of foreign exchanges like the Olymptrade Forex trading platform explain the essential performance features and levels of operational transparency. Traders will learn everything they need to know about the platform with the help of this Olymptrade Forex review. It will provide valuable insights into the main characteristics and specific aspects of the operation.
About the Olymptrade Forex Site
The platform has been active for six years now. Apart from earning trust and accurately serving the needs of traders, the company has been able to attract multiple investors and become the first-choice foreign exchange worldwide. In addition to trading currency pairs, the platform also offers commodities, stocks, indices, exchange-traded funds, and cryptocurrencies. Both the security and trustworthiness of the exchange played a crucial role in its improvement over the years. Since it is widely acknowledged, the platform received multiple trading-related awards as a sign of global recognition.
- Reliability. Since the company is an official member of IFC, it guarantees the security of traders and their investments. Moreover, there is a compensation fund available for every investor in case any illegal activity takes place.
- Size of Deposit. There is no need to make large investments. The minimum deposit size is $10. Therefore, the platform remains accessible to every trader.
- Education. The platform is not only about making profitable trading operations. It provides all the essential information to make the concept of trading understandable to beginners. With easy access to educational materials such as interactive courses, webinars, video tutorials, tips, and recommendations, potential investors and seasoned experts can stay informed about every aspect of the trading process.
When compared with other platforms, this exchange stands out because of the customization capabilities and user-friendly design. Since it was created by the team of seasoned developers and financial analysts, all the technical settings meet the individual needs of traders. In a nutshell, the customizing capabilities simplify the visualization and comprehension of the information displayed by the platform. Such features as color and type of charts, time frames, oscillators, and other indicators improve the accuracy of chart reading. In this case, time frames refer to price schedules available on the platform. In other words, a 15-minute time frame, for example, will demonstrate the price changes during the chosen period.
Another significant factor is customer support. The company provides around-the-clock support, constantly improving the level of service and its functionality.
When it comes to registration, the platform provides it free of charge. Besides, the company rewards credit points after the registration is finalized. In other words, the Olymptrade Forex bonus (10,000 virtual currency units) is available for all the users. Besides, all the platform users have an opportunity to create and use free demo accounts. These accounts can be used at any moment and have no expiration date set.
Minimum deposit: $10
Single trade not to exceed: standard account limit $2,000
VIP account limit $5,000
Minimum withdrawal: $10, no fees charged
VIP account: available after a $2,000+ deposit
Payouts: applied only to successful trades;
- standard accounts – 82%
- VIP accounts – 90%
Payment Systems & Withdrawal
As for deposits and withdrawals, the platform offers multiple options to meet the needs of every trader. The platform users can select any of the payment services listed below.
- WebMoney, Skrill, Bitcoin wallets, Qiwi, Neteller, Yandex Money
- Visa or MasterCard
- Brazil-based traders can use Boleto
In regards to withdrawals, the waiting time does not exceed three business days. The platform, however, is determined to complete all the financial operations in short periods. It is worth mentioning that the waiting time for VIP and standard account holders differs. While standard users often have to wait for more than one business day, VIP users only have to wait for a couple of hours.
The software offered by the platform requires no additional downloads. Traders can use the website for registration and trading purposes. If their lifestyle requires constant movement, the company provides an on-the-go trading option – a mobile app, offering a transparent trading experience.
Olymptrade Forex Scam or Not?
When it comes to binary options trading, positive outcomes depend entirely on the accuracy of predictions. Naturally, binary options trading operations have specific limitations. As for this platform, the expiry time ranges from one minute to 2-3 hours. Therefore, fixed expiry times might raise doubts about the legitimacy and authenticity of the company. Since the short expiry times are associated with significant risks, many traders speculate that the company is a scam. The platform, however, frequently proves its trustworthiness. For instance, the company prohibits the use of automatic trading methods as bots or any other surrogate for human-operated trading. With the growing number of active users and multiple success stories, the platform cannot be viewed as unreliable.
While there are multiple pros and cons to using this platform, traders keep choosing it as the primary trading option. Apart from welcome bonuses and educational information, the platform creates perfect conditions for high-frequency trades. Therefore, the level of security and performance make it clear that the platform does not run illegal operations.