How to Open Account in Olymp Trade
Olymp Trade is an online forex trading broker that accepts clients from 30 countries around the world.
It offers a straightforward user experience. All that's required to get started is some basic information and register for a demo account.
Demo accounts offer 10,000 virtual units of currency to allow you to test out the platform's features and benefits.
Signing up for a demo account
Demo accounts are an ideal way to test out trading on a new broker before investing your own funds. They allow you to test out strategies and build confidence without risking real capital, plus, it provides insight into the broker's services and platform before opening an actual account.
Registering a demo account at Olymp Trade is simple and fast. All that's required is your email address and password - or alternatively you can open your account using Facebook, Google or Apple credentials.
Once you enter your personal details, you'll be taken to a page where you can start trading with a demo account. You'll be granted 10,000 virtual units of currency to trade with, giving you an opportunity to evaluate the Olymp Trade platform and its key features.
Similar to opening a demo account, opening a full one requires providing personal details and answering some additional questions. However, this procedure may take more time than for a demo account since you will need copies of your passport, photo identification, proof of residence, as well as confirmation of payment method.
Olymp trade offers a range of payment methods for depositing and withdrawing funds, such as bank cards, JCB, China UnionPay, Neteller, Skrill, WebMoney, FasaPay, GlobePay or Bitcoin. There are no fees when making deposits or withdrawals - though you may incur conversion fees when using third-party processors.
On the Olymp Trade platform, you can have multiple accounts for different investment modes and currencies. Furthermore, they provide free training courses to help new traders grasp the fundamentals of trading.
When trading with a real account, it's essential that you fund it before trading for actual money. Doing this helps avoid any issues with your bank.
Olymp Trade is an established online trading platform that provides a broad selection of financial instruments and comprehensive education programs. It's ideal for new traders who wish to make money investing in stocks, currencies and commodities. Furthermore, the company provides high-level customer support via various communication channels - available 24 hours a day via phone, live chat or email.
Getting started with a real account
Before trading on the Olymp Trade platform, you must first register an actual account with the broker. This involves providing your name, email address, preferred currency (USD or EUR), and password. After this has been done, funds can be added to your account in real money.
The Olymp Trade platform provides a range of payment methods, such as debit/credit cards, bank transfers and electronic payment systems. All these methods are secure and enable users to deposit and withdraw funds without worrying about fees or commissions.
Olymp Trade also offers a demo account with a $10000 balance to allow you to test the platform and gain more insight before investing real money. This way, you can hone your skills while minimizing the risk of losing your investment.
Olymp Trade not only offers a vast selection of trading tools, but they also provide educational materials such as market news, explainer videos, webinars and price forecasts.
New traders can utilize Olymp Trade's demo accounts to test out their strategies and see if they can profit on the platform. Doing this helps them avoid making costly errors and learn from their errors.
Olymp Trade is an A-recognized member of the International Financial Commission, making it a reliable and trustworthy online broker. Its services are supported by fraud detection coverage of up to EUR20,000 per trade, rapid dispute resolution processes, as well as superior support.
Olymp Trade website also features live chat for any queries you might have. This is a quick and convenient way to get answers and advice from an Olymp Trade representative in under one minute.
Registering with Olymp Trade requires providing your full name, date of birth, and valid email address. Additionally, the broker will require you to prove your identity by providing a copy of your passport, photo identification card, and proof of residence.
If you're a novice trader, it is essential to read books and watch videos about trading before investing your funds. Doing so will give you an in-depth knowledge of the market and enable you to make an informed decision as to whether or not to invest in it.
Depositing money
If you wish to begin trading on the Olymp trade platform, opening an account is required. Fortunately, the process is straightforward and swift as long as you meet all minimum deposit requirements. You can do this using credit cards, bank transfers, e-wallets or cryptocurrency.
Once you have your email address and password, log in to Olymp Trade. After doing so, the website will ask for some information and verify your identity before allowing money withdrawals.
Olymp Trade is a financial services provider that accepts several payment methods, such as MasterCard and Visa. Furthermore, the business accepts Bitcoin.
The company is located in St. Vincent & the Grenadines, a country notorious for its lax regulatory environment. This could indicate potential fraudulence.
Another red flag is that the company lacks banking experience and does not publish its financial information. This raises serious doubts, as any broker offering such services should be regulated by either a government agency or reliable regulator.
Olymp Trade does not appear to be a member of any major regulatory organizations, such as the International Financial Commission (FinaCom). Furthermore, it lacks investor protection and provides no detailed information regarding its auditors or financial statements.
If you are new to online trading, it is wise to first use a demo account before making any real investments. This way, you can hone your skills and learn from mistakes.
On Olymp Trade, traders have access to an impressive array of educational resources including webinars, live monitoring and specialized price analysis tools. This helps them become experts and reduce their risks.
Olymp Trade offers its customers a customer loyalty program that can be used to advance your status from "Starter" to either "Advanced" or "Expert." As you progress through the program, you will earn rewards and bonuses as well. The higher your status, the greater your earnings potential.
Withdrawing money
When it comes to withdrawals in Olymp trade, traders have several methods at their disposal. These include credit and debit cards, bank wire transfer and e-wallets like Skrill or Neteller that are easy to use and fast; however they will charge you a fee for each withdrawal.
To withdraw money from your Olymp trade account, log into the platform and select your preferred payment option. This will bring up a page where you can enter the amount to withdraw and confirm. After doing this, Olymp trade will then transfer those funds back into the same method used when depositing them into your account.
To make a withdrawal quickly and easily, use your same credit or debit card that was used when depositing money into your account. This is usually the fastest option; usually taking between one to five business days to process.
Other options for speedy transactions are e-wallets like Skrill, which offer no transaction fees and do not provide the same level of security. Unfortunately, they may take longer to process orders.
Another option is to upgrade your account to Expert status, which grants you top priority on withdrawals and provides additional advantages like a personal finance analyst who can assist in making informed trading decisions. This way, you'll get your money faster and have additional support when needed.
Fund withdrawal from Olymp trade can also be expedited using a third-party verification service, which will expedite the process even more. This option is especially advantageous if your country lacks banking regulations.
Olymp trade requires you to upload a photo of yourself holding an ID that matches the name used when you registered with the site. This can be any valid ID, such as a passport or driver's license.
Furthermore, you must prove your address by providing a signed and stamped account statement from your bank. After these requirements have been fulfilled, you will be able to withdraw profits from your account.