A Quick Summary of Olymp Trade
Olymp Trade is a forex broker founded in 2014 that is currently owned by a company called Saledo Global LLC. Its headquarters are in Kingstown, St. Vincent & the Grenadines, and it accepts customers from 134 countries around the world, but not the US or Europe.
We like this broker for its simplicity, ease of use, and accessibility to traders at all skill levels and budgets. Is Olymp Trade the right broker for you? Read on to learn about Olymp Trade licensing, platform, account types, markets, and more.
|🕵 Broker Type||STP|
|💰 Min Deposit||$10|
|📈 Demo Account||Yes|
|💱 Base Currencies||EUR, USD|
|📊 Platforms||MT4, Mobile, Web|
|💎 Assets||Commodities, Cryptos, , Energies, Indices, Forex, Metals, Stock CFDs|
Olymp Trade Broker Details
Saledo Global LLC
Kingstown, St. Vincent & the Grenadines
Australia (AU), Austria (AT), Belgium (BE), Bulgaria (BG), Canada (CA), Cyprus (CY), Denmark (DK), El Salvador (SV), Finland (FI), France (FR), Germany (DE), Ireland (IE), Israel (IL), Italy (IT), Japan (JP), Latvia (LV), Lithuania (LT), Netherlands (NL), New Zealand (NZ), Norway (NO), Poland (PL), Portugal (PT), Romania (RO), Russian Federation (RU), Slovakia (Slovak Republic) (SK), Spain (ES), Sweden (SE), Switzerland (CH), United Kingdom (GB), United States (US)
Straight Through Processing (STP)
Commodities CFDs, Cryptocurrencies, ETF CFDs, Energies CFDs, Equity Indices CFDs, Forex Pairs CFDs, Precious Metals CFDs, Stock CFDs
AstroPay, Bank Cards, BitCoin, Ethereum, FasaPay, Hong Leong, JCB, Maybank, Neteller, Perfect Money, Public Bank, RHB, Skrill, Tether, UnionPay
MetaTrader 4 (MT4), Mobile Platform, Web Platform
License and Protection
You are likely wondering first and foremost whether Olymp Trade is a safe, regulated forex broker.
Saledo Global LLC is registered at First Floor, First St. Vincent Bank Ltd Building, P.O. Box 1574, James Street, Kingstown, St. Vincent & the Grenadines. According to the website, this company “is fully licensed to perform its activities by the laws of that country.”
The company also is a member of the Financial Commission (FinaCom) and states that Verify My Trade has assessed and confirmed the quality of trade execution on the platform.
To be clear, the Financial Commission is not a government regulatory agency. It describes itself as an “independent self-regulatory organization and external dispute resolution (EDR) body.”
What does this mean for you?
First of all, let’s talk about St. Vincent & the Grenadines. There are tax advantages to setting up shop there, as well as benefits when it comes to confidentiality.
Because forex brokers like Olymp Trade save on taxes in St. Vincent & the Grenadines, they are able to pass on savings to you. Commissions and fees tend to be reasonable. So, that is an advantage.
It is a disadvantage, however, that Olymp Trade is not licensed by a government regulator. In our view, an independent organization like the Financial Commission is not a replacement for government regulation. It is, however, better than nothing, and does give you a third party to turn to if you have a dispute. Just keep in mind that the party is operating by its own rules.
Support and Customer Service
Olymp Trade’s forex trading platform is available in 19 languages, making for easy onboarding for customers regardless of location.
If you have questions while you are trading, you can click on “Support.” This will bring you to a brief FAQ. Scrolling past those, you will come to “Client Support Department.” There, you will see phone numbers you can call in South Africa, Argentina, and Cyprus.
There is also a link to open a chat. Both online chat and phone support are available 24/7 You also can email support if you prefer. The response time for email inquiries is 1 business day.
Nobody was on chat when we checked the first time, perhaps because of a technical issue. The second time we tried, an agent was available almost immediately and was able to provide fast and knowledgeable replies to our questions.
Platforms and Technologies
You can trade through this forex broker using the site’s web-based platform, which you can access using your desktop, laptop, or mobile device. This proprietary platform is sleek, user-friendly, and operates well on a variety of systems. Alternately, you can use the popular free platform MetaTrader 4 (MT4).
Olymp Trade has a store for extensions for its trading platform called “Market.” You can either use the money to purchase extensions, or you can apply the experience points (XP) you earn through Trader’s Way.
Trader’s Way is Olymp Trade’s rewards program for loyal customers. All you need to do in order to earn XP through the system that you can trade-in for rewards is to make trades on your live account.
If you are looking for a different way to extend the capabilities of your trading platform, you can always just use MT4. There is a massive collection of indicators and tools you can buy or get for free for that platform.
Trading Accounts & Conditions
You can choose between a Standard account or an ECN account when you trade with Olymp Trade, regardless of whether you are depositing real money or trading in demo mode.
You will pay spreads with the Standard account, but not with the ECN account, which includes commissions instead. Spreads start at 1.1 pips.
A swap-free option is also available at Olymp Trade. If you qualify, you can avoid fixed commissions on overnight trades.
Demo versions (see below) of both types of accounts exist, so you can find out for yourself which will be most suitable for your needs before opening a live account.
A demo account at Olymp Trade gives you a chance to test out the site’s proprietary platform for yourself, explore features and options, and practice trading without risking real money.
When you register, you will have a chance to choose whether you prefer to start out with a demo account or a live account. The same screen lets you pick between Standard and ECN.
Now you know what types of accounts Olymp Trade make available. But what assets can you trade?
This broker offers to trade for currencies, commodities, stocks, indices, ETF, crypto, and OTC. As you will see below, there is a huge selection of financial instruments. So, it should not be hard to find trading opportunities.
- Natural Gas
- 3M Company
- Exxon Mobil
- Goldman Sachs
- Johnson & Johnson
- JPMorgan Chase
- Morgan Stanley
- Procter & Gamble
- Asia Composite Index
- Basic Dollar Index
- CAC 40
- Commodity Composite Index
- Dow Jones
- EURO STOXX 50
- Europe Composite Index
- FTSE 100
- Hang Seng Index
- Nikkei 225
- RUSSELL 2000
- S&P 500
- ETF MSCI Brazil 2х
- ETF NASDAQ Reversal 2х
- ETF S&P 500 Volatility 1.5x
- ETF U.S. Real Estate
- Basic Altcoin Index
- AUD/USD OTC
- EUR/USD OTC
- GBP/USD OTC
- Gold OTC
- NZD/USD OTC
- USD/CAD OTC
- USD/CHF OTC
- USD/JPY OTC
This broker accepts a variety of deposit and withdrawal methods. These include Visa or Mastercard (but not Electron or Maestro), AstroPay, Bitcoin, Ethereum, FasaPay, Hong Leong, JCB, Maybank, Neteller, Perfect Money, Public Bank, RHB, Skrill, Tether, and UnionPay.
Whatever method you use to make your deposit will also be used to make your withdrawal.
Olymp Trade states, “We do not charge any fees for both deposit and withdrawal transactions.”
But be aware that your e-wallet or bank could charge you fees for some things. If, for example, you need to convert a currency, that could result in a fee—just not from the broker.
How long it takes a deposit or withdrawal to process depends on the method you choose. On average, you can expect anywhere from 24 hours to 5 business days.
The minimum deposit amount is only $10, which is also the minimum withdrawal amount. So, that is good news if you have a small account.
When you make your deposit, be sure to check whether a bonus is available. You also can follow Olymp Trade on social media for promo codes. Trader’s Way XP can earn you bonuses too.
Final Overview of Olymp Trade
With its fast, affordable deposits and withdrawals, user-friendly platform, huge selection of assets to trade, and exciting rewards program, Olymp Trade has become one of our recommended forex brokers.
If you are ready to get started now, click on “Visit Olymp Trade” at the top of this page to open your trading account.
Frequently Asked Questions about Olymp Trade
✅ What are the minimum deposit and minimum withdrawal at Olymp Trade?
$10 is the minimum for both depositing and withdrawing.
✅ What is the minimum trade size on Olymp Trade?
The minimum trade size for this broker is just $1. This is excellent news if you are getting started with forex trading with a small account.