A binary option just like the name implies is a kind of option with a fixed payout. It is an option in which there are only ‘two’ possible results; receiving the agreed payout or getting nothing at all. There are two main types which are: the cash-or-nothing binary option and the asset-or-nothing binary option. These types are all-or-nothing options, fixed return options (FROs), and digital options.
Something peculiar about the binary options is the ‘yes’ or ‘no’ proposition, and its flexibility. Binary Options give you the ability to trade all markets, all market conditions, all durations, and most importantly, all payouts. Olymp Trade offers you the ability to trade binary options on its platform. You would enjoy the trading conditions provided by the company; intuitive and straightforward, security and privacy, 24/7 availability, instant access, and allows for trade with patented pricing technologies.
- ABOUT OLYMP TRADE
- IS OLYMP TRADE A SCAM?
- REGISTRATION AND AUTHORIZATION
- LOGIN AND SIGN IN
- DELETE ACCOUNT
- DEPOSIT, COMMISSION AND BONUSES
- WITHDRAWAL REVIEW
- TUTORIAL FOR BEGINNERS
- How legal is Olymp Trade?
- Can I use Olymp Trade as a Muslim?
- How long does it take to withdraw from Olymp trade?
- REVIEWS OF TRADERS
ABOUT OLYMP TRADE
This company started in the online trading market as far back as 2014. Let’s see all about Olymp Trade; the company ceaselessly allows traders to earn and even does more by teaching them how to, thanks to a team of world-class analysts. These analysts create unique trading strategies and show traders how they are used mostly through open webinars.
It is a platform that primarily permits traders to set options for currency pairs, stocks, commodities, indices and even cryptocurrencies. Traders can see the percentage profit off a trade before they make it. After a successful deal, the trader gets credited. The good thing about Olymp trade is that; it never takes a percentage of trades, deposits or even withdrawals at any point in time.
IS OLYMP TRADE A SCAM?
It’s not surprising that everyone wants to know whether or not Olymp trade is real. Olymp trade is a member of the International Financial Corporation; IFC. The IFC gives investment, advisory and asset management services. The IFC’s guidelines are essential tools that are widely adopted as market standards and embedded in operational policies. A requirement to be a member of the IFC is accepting their deep and intense investigations. These investigations were all passed, making Olymp Trade legit. Another comforting fact is that if Olymp Trade scams any of its traders; all traders are eligible to get as much as 20,000 Euros from the IFC.
REGISTRATION AND AUTHORIZATION
To register an account, go to olymptrade.com and click the Register button. Next step is to fill in all necessary details; like Name, Email, Phone Number, Password, and Currency. After filling those fields, you have to click the Register button. You’d receive a mail to activate your account. Something that might interest you is that there is a fantastic offer of getting $10,000 free demo credits after registration.
LOGIN AND SIGN IN
Logging in to the platform is an easy task. All you need to do (as long as you have registered an account) is go to the Olymp Trade site, enter your username and password. If you are not someone used to cramming passwords, you can allow your browser to save it for you.
If you’re going to login from a different location, it is advisable to keep your registered phone number close. Why? Whenever an account owner tries to access his or her account from a different location, it prompts them to send a verification code to the registered phone number to ensure safety.
It is crucial to verify your account on the platform to avoid withdrawal issues from your account. To verify your account, you have to set up privacy for your account and authenticate your account. How do you do this? You start by going to your profile page and filling every data required. The data you fill in must be accurate to avoid issues later on.
After filling the essential details on your profile, you’d see an Authentication Tab. You would be required to agree with the terms and conditions by clicking two boxes, tick them and click the Proceed button. The next step after this is proving your identity. To confirm your identity; upload a picture of your I.D. and a selfie of you holding the document.
The Next step is to confirm your address. You can verify your address by uploading a picture of your bank statement, tax declaration, utility bill, municipal tax bill or phone bill. The last step is uploading a photo of the frontal side of your credit card. It takes about five days to complete the verification process. Once the five days elapses, you can start to make your withdrawals.
You might be wondering if Olymp Trade deletes accounts. There’s no way to delete your account on this platform. However, you can block your account. To do this, contact the platform’s client support department at firstname.lastname@example.org or call +357 22007136.
Olymp Trade’s demo account allows you to test what you know about trading. The demo account is realistic in that; you can trade at regular market times. The account will let you learn trading tactics, use of indicators, and most importantly, money management. The demo trading simulator is available upon account opening. On this platform, there is no form of the minimum deposit required.
To add more money to your demo account, click the “Make a deposit” button. After clicking this button, select D10,000.00. Doing that refills your account.
DEPOSIT, COMMISSION AND BONUSES
To deposit money into your account, click “Deposit” after you log in. After clicking deposit, a page pops up telling you to select a payment method. After you choose a payment method, you will be required to choose the amount of money you want to deposit in your account. After making all the necessary selections, you will have to fill in your credit card information (Visa/MasterCard) and click the “Pay” button. The last step is to take a screenshot of your receipt and confirm the deposit in your live account.
This platform does not take out fees for withdrawal and deposits. It compensates these costs with its own money. The platform only takes a certain price per trade depending on some parameters; you can know more about this on its website. The platform also never takes a fee on closing a position, or account maintenance. Although, it charges a fixed rate for an overnight fee; just 15% of the investment amount.
On this platform, you get bonuses for account deposits; the amount you get depends on the amount you deposit. Usually, there’s a minimum of 10% bonus once you deposit about $30.
The platform gives trading without any form of spread. It displays a price for each forty-two assets. The minimum transaction amount is about a dollar per euro, and the leverage extends from 1:5 to about 1:200 depending on the “asset category”. The simplified form of a multiplier rate determines the leverage.
There are several kinds of trading strategies that you will find on the platform. These strategies include; The Moving Average, MACD Professional, The Japanese Standard, Refection, The Japanese Pearl, and Trio. To study these strategies login to the platform and click on the Olymp Trade strategy pdf download link.
For the Olymp Trade withdrawal review, you can withdraw your money from Olymp trade in quick and easy steps. The platform gives options for Bank Transfer, Credit/Debit card, and also an E-Wallet service. There’s no Olymp trade withdrawal limit; that is there is no maximum but just minimum. The minimum withdrawable amount on the platform is about $10.
TUTORIAL FOR BEGINNERS
To learn Olymp Trade, you have to learn its strategies. To learn more about trading binary options via this platform, check out the Olymp Trade tutorial for beginners.
There are so many questions to ask regarding Olymp Trade. Below, are some of Olymp Trade’s FAQ:
How legal is Olymp Trade?
So many people question the legality of the platform, mostly Indians. Some people think the platform is nothing but a scam. The Reserve Bank of India does not regulate the platform, but it is not considered illegal. So, yes, Olymp Trade is legal in India and many more countries.
Can I use Olymp Trade as a Muslim?
Muslim traders remain very puzzled about whether or not Olymp Trade is Halal. You need to understand that Forex is not a gamble; it operates on specific laid down rules and strategies. Also, trading is executed at the market price created by other forex market markers. You don’t have to worry; this platform doesn’t break any of the Islamic requirements.
How long does it take to withdraw from Olymp trade?
On the platform, it takes approximately 24 to 48 hours to process a withdrawal. On some occasions, it could take close to five business days to process withdrawals.
Saledo Global LLC manages this online platform, at First Floor, First St. Vincent Bank Ltd Building, P.O. Box 1574, James Street, Kingstown, St. Vincent & the Grenadines.
REVIEWS OF TRADERS
On the platform, traders can see the percentage profit (pip) before making a trade. The platform comes with several strategies that help traders trade with a peace of mind. Also, traders are not worried about scams as they are confident that the IFC has duly registered the platform.