All you need to know about the broker platform
Lately we hear a lot about the Olymp Trade broker and its exclusive binary options trading software. Intrigued, we analyzed it and now we are ready to say our opinion.
Owned by Smartex International Ltd, since 2014 the Cyprus-based binary options broker Olymp Trade offers its clients excellent and innovative trading experiences, which have allowed it to gain the trust of traders, that has been increasing in recent years. The company is based in Sham Peng Tong Plaza, Victoria, Mahe, Seychelles. The fastest way to contact a representative is by phone number +357 22 007136, if necessary you can request support also at the e-mail address firstname.lastname@example.org.
On the ground
Starting to trade with this platform is really simple: the site automatically redirects new users to the demo trading platform, in order to allow them to immediately experience the new tool, but in a safe way. We can also say a positive note about the usability and the interface that, although they are different from those of other brokers in circulation, are very intuitive, user-friendly and easy to understand.
The broker platform provides not only a wide range of currency pairs for forex trading, but also stocks, commodity trading and market indices updated in real time. Due to its international nature, the website, the platform and the assistance are available in Russian, English, Greek, Portuguese, Spanish and Turkish.
In order to start trading, you need to make a deposit. The minimum amount of it is only $10 for a standard trading account. If you want to get a VIP account and its benefits – including 90% increased payments – the minimum deposit increases to $ 2,000. The cost, higher than the average, can limit the number of traders interested in the platform, but it is a cost-effective investment for more experienced traders who forecast strong upcoming earnings.
There are those who accuse it of being a scam. It’s true?
In order to establish correctly if the binary options broker is a scam or is legitimate, it is necessary to check if it has the right authorizations and certifications. In Europe this is quite easy: just make sure it has the FCA, FSB or ASIC license.
Olymp Trade, in particular, is registered with the Financial Commission, an industry self-regulation organization. There is no reason to worry.
If you are investing with Olymp Trade right now or have experience with it, do not hesitate to share your experience with other new traders in the comments below! We are interested in knowing your opinion.