Olymp Trade Review - How to Open an Account With Easy Verification
Opening an account with a broker is the quickest and most efficient way to begin trading online. It allows you to test new strategies and learn how to utilize them efficiently.
Open a demo account for free and start practicing right away. The platform provides 10,000 virtual units of cash to test out strategies.
Free demo account
Demo accounts are the ideal way to learn the fundamentals of trading, as they provide you with a realistic environment in which to trade without risking your funds. Furthermore, demo accounts let you test out new strategies and assets before investing in them on your live account.
Signing up for an account with Olymp Trade grants you a virtual balance of $10,000 - enough to practice FX and FTT trading on currency pairs, raw materials/metals, stocks, as well as crypto-currencies.
This is an ideal way to become familiar with the platform, and it also helps you decide whether investing your own funds in trading makes sense or not. Once you've mastered the fundamentals of forex trading, you can then transfer your demo account over to a live one.
Your demo account can also be used to experiment with new strategies and indicators. However, keep in mind that trading on a demo account is not recommended for long-term trading, as you could potentially lose all of your account balance in one trade. Therefore, it's wise to set up a stop loss in order to protect yourself financially.
Additionally, make sure you only risk a minimal amount of virtual money per trade. For instance, don't risk more than 2% of your demo account's capital on each trade.
Another essential benefit of a demo account is its access to real-time prices. This data can help you analyze the market and make informed decisions on which markets to invest in or avoid.
Olymp Trade provides several deposit and withdrawal methods, such as Visa and MasterCard credit cards, electronic payment systems like Neteller, Skrill, and WebMoney. Withdrawals may take up to 3 days but Olymp Trade strives to process them promptly.
Olymp Trade provides customer support via phone, email and live chat. Their knowledgeable and friendly staff will be more than happy to answer all of your queries. Additionally, they are accessible 24/7 with usually quick responses.
Olymp Trade boasts an incredibly user-friendly user interface and offers several convenient features like no commission when depositing or withdrawing funds, low minimum deposits, round-the-clock multilingual support. Furthermore, it provides various tools and training resources to help traders become successful traders.
Olymp Trade is a brokerage company that offers traders the chance to trade with an extensive array of assets. As a member of the International Financial Commission (FinaCom), Olymp Trade must meet certain standards in order to maintain its license and safeguard clients' interests.
To open an account on Olymp Trade, you need to first register on their website and provide your personal details such as a valid email address and password. After that, you can start trading on their platform.
You can make your initial deposit using either a credit card or electronic payment methods such as Skrill or Neteller. To verify your identity, submit either a screenshot or electronic statement showing the transaction to Olymp Trade. This document should include your full name, payment amount and date of transaction.
Once your account has been verified, you can make withdrawals using the same methods used when depositing funds. Withdrawals typically take one to four days depending on which payment method you select.
Money withdrawal from your Olymp Trade account can be done via bank wire or e-wallet transfer. The process is swift and effortless, though you may need to provide proof of identity and address in order to confirm the request.
Before withdrawing funds, you'll need to verify your identity with a verification code and password. This security measure helps prevent unauthorized users from accessing your account and taking advantage of any money-making opportunities.
Verifying with your mobile phone is easy. Olymp Trade will send a verification code to the number entered when signing up, and once verified, you can use this code to withdraw funds from your account.
As with most online brokers, Olymp Trade requires its clients to go through a verification process in order to confirm their identity and protect their accounts from fraudulent activity. This step helps safeguard both the broker and its clients against losses due to identity fraudulence.
Olymp Trade is one of the few brokers offering a low minimum deposit, making it an attractive option for traders looking to make a small investment. This is especially true of newer traders who may not have much capital available yet but still wish to start making some cash through trading.
Once you make your initial deposit, you can begin trading immediately. The broker accepts various payment methods such as credit cards and e-wallets. Moreover, you can sign up for a free demo account to test out the platform prior to trading live.
Registration for a demo account is simple. Just enter your name, email address and password to get going. Afterwards, you'll receive 10,000 virtual units of money that can be used to practice trading and explore the platform's features.
To open a real account with an online broker, you'll need to provide additional information such as your ID and proof of address. This is required by financial service regulators in order to confirm your legal right to trade on the platform.
Olymp Trade offers a low minimum deposit requirement as well as various trading tools and an attentive customer support team. Furthermore, the broker provides educational videos to help users better comprehend market dynamics and how to utilize its platform.
Olymp Trade offers 24-hour customer support via live chat, phone and email. They have an informative FAQ section as well.
They offer a loyalty program that rewards users with XP for their daily activities and tasks. These XP can be used to increase your account status from "Starter" to "Advanced," then eventually "Expert."
When starting in online trading, it's essential to select a broker with various features. Olymp Trade provides several options for depositing and withdrawing funds such as crypto, credit cards, and e-wallets.
Olymp Trade offers a low minimum deposit of $10, which is lower than many other brokers. Furthermore, it allows traders to trade in multiple currencies with no fees charged for deposits or withdrawals and provides 24/7 multilingual support.
Olymp Trade boasts an experienced team of support personnel available 24/7 to answer your queries and resolve any technical issues on both web and mobile apps. Furthermore, they will assist with any necessary documentation so that you get the best service possible.
Contacting Olymp Trade's customer support team is easy with either email or live chat. Feel free to choose which language best suits your needs and preferences - the Olymp Trade team will do their best to resolve your issue promptly and efficiently.
Fixed Time Trades allows traders to profit from price movements by setting specific opening and closing prices. This is an increasingly popular method for investors to profit from the markets. For instance, a five-minute Up trade on the S&P 500 with an 80% return on investment could be worth $180 when it expires.
Novice traders will find this type of trading to be an ideal option, as it provides them with the chance to learn about the market before investing their funds in it. Furthermore, they have the flexibility to postpone trades until prices reach their predetermined conditions.
Olymp Trade makes the verification process for new clients a breeze. The broker provides a list of documents you can submit as identification, such as your ID card, passport and bank statement.
If you are a new client, it is recommended that you submit these documents within the first 30 days of registration. Although you can begin verification later on, it's best to submit these documents as soon as possible.
Once you submit all necessary documents, Olymp Trade will review them to guarantee they are valid and authentic. After verification is complete, they will send you an email containing a report outlining the results of their investigation.