Olymp Trade is an online broker established in 2014 and owned by Saledo Global LLC. It offers over 80 instruments, including shares, currencies, cryptocurrencies, commodities, and indices. It is available to users from over 30 countries, but it is not regulated in Europe and North America. However, it has been a member of the Financial Commission since 2016, providing customer protection through the FinaCom Compensation Fund. The minimum deposit is $10, and the average monthly trading volume is $179.2 million, with an average payout of $13.7 million per month. Olymp Trade offers extensive trading education and resources, including a team of analysts who provide original trading ideas and strategies.

Olymp Trade Pros & Cons

Pros:

• Low minimum deposit of just $10
• Offers more than 80 instruments including shares, currencies, cryptocurrencies, commodities, and indices
• Average monthly payout of $13.7 million and 35.4 million trades per month
• Member of the Financial Commission (FinaCom) since 2016, providing customer protection through the FinaCom Compensation Fund
• Offers extensive resources and trading education, as well as original trading ideas and strategies from analysts

Cons:

• Not regulated in Europe and North America, which may be a concern for some traders
• Limited range of account types compared to some other brokers
• Limited access to customer support outside of business hours
  
  
  

Who Is Olymp Trade Recommended For?

Olymp Trade may be recommended for beginner and intermediate traders who are looking for a simple and user-friendly trading platform. The low minimum deposit requirement of just $10 and the availability of a free demo account may make it a suitable choice for those who are just starting out in trading and want to gain some experience without risking too much capital. The extensive educational resources and trading ideas provided by the company may also be helpful for those who want to learn more about trading and develop their skills. However, more experienced traders who require advanced trading tools and features may find Olymp Trade’s offerings to be limited.

Top Olymp Trade Features

• Wide Range of Assets: The platform offers a wide range of assets including major currency pairs, indices, commodities, cryptocurrencies, and stocks of major companies such as Apple, Microsoft, and IBM.
• Extensive Training: Olymp Trade provides extensive training to its users through analyst help, webinar sessions, economic calendars, and a variety of other tools.
• Low Minimum Deposit: The platform has a very low minimum deposit of just $10, making it accessible to anyone who wants to start trading.
• High-Quality Platform: The Olymp Trade platform is user-friendly and has a simple interface. It is compatible with both desktop and mobile, and also supports MetaTrader 4.
• Competitive Spreads: Olymp Trade offers competitive spreads on all its assets, ensuring that traders get the best possible prices for their trades.
• Fast Execution: Trades on Olymp Trade are executed quickly, ensuring that traders can take advantage of market movements as soon as they occur.
• Multiple Account Types: The platform offers multiple account types, including a free demo account, a standard account, and a VIP account.
• Secure Trading: Olymp Trade uses advanced security measures to ensure that traders’ funds and personal information are kept safe.
• Multilingual Support: The platform offers customer support in multiple languages, ensuring that traders from different countries can access support in their native language.
• Trading Contests: Olymp Trade offers regular trading contests with attractive prizes, providing an additional incentive for traders to participate and perform well on the platform.
  

Olymp Trade Account Types

The Olymp Trade broker offers two types of account: ECN Account and Standard Account. Both account types have a minimum deposit of $10 and offer trading instruments such as currency pairs, cryptocurrencies, indices, metals, energies, and stocks. The ECN Account has a starting spread of 0.6 pips, $4 per lot commission per trade, and up to 500:1 leverage, while the Standard Account has a starting spread of 1.1 pips and no commission per trade. Both account types offer decimal pricing up to 5 decimals, a minimum lot size of 0.01 and a maximum lot size of 20, and a swap/rollover free feature. Demo accounts are available for both account types, but copy trading support is not offered.

Olymp Trade Compliance & Regulation

Olymp Trade is not regulated by any major regulatory body such as the Financial Conduct Authority (FCA) or the Securities and Exchange Commission (SEC). However, it has been a member of the Financial Commission (FinaCom) since 2016. FinaCom is an independent self-regulatory organization that serves as an intermediary between traders and brokers in case of disputes.

As a member of FinaCom, Olymp Trade complies with the organization’s regulations, which include maintaining a compensation fund to protect clients in case of broker insolvency, transparent business practices, and timely dispute resolution. Although FinaCom membership does not provide the same level of protection as being regulated by a major regulatory body, it does provide some level of security and protection to traders.

Olymp Trade Reliability & Security

Olymp Trade takes the security and reliability of its platform seriously. The company uses encryption technology to protect user data, and it stores customer funds in separate accounts from its own operational accounts to ensure their safety.

Additionally, the company has been a member of the Financial Commission (FinaCom) since 2016. This membership ensures customer protection by covering each trader for up to €20,000 within the framework of the FinaCom Compensation Fund.

However, it’s worth noting that Olymp Trade is not regulated by any major regulatory bodies in Europe or North America, which may be a concern for some traders.

Conclusion on Olymp Trade 

Olymp Trade is an online broker that offers a user-friendly platform for trading a variety of financial instruments including currencies, commodities, cryptocurrencies, indices, and stocks. The platform offers extensive educational resources and support for traders, with a low minimum deposit of just $10. While the broker is not regulated in Europe or North America, it is a member of the Financial Commission (FinaCom), which provides some level of customer protection. Additionally, the platform has strong security features to ensure the safety of its users’ funds and personal information. Overall, Olymp Trade may be a suitable option for traders looking for a simple and accessible trading experience.