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Olymp Trade REVIEW
Olymp Trade is a new breakthrough binary options brand and broker
Read 100% Free Olymp Trade Review by Scamorno Team
FULL REVIEW OF Olymp Trade
Olymp Trade is a fairly new entrant into the binary options (BO) market place having launched in 2014. As a subsidiary of Smartex International Ltd and Frandom Holding Ltd registered in the Seychelles and Cyprusm, and they are regulated by the FMRRC making them a viable option for most traders. Their background is very much as a Russian broker, but are licensed internationally and are set up to serve worldwide traders.
Where they differ from most binary options brokers is that they do not offer the extensive range of assets that others do. With many options brokers offering the chance to trade as many as 200 assets they really only offer currency pairs, gold and silver. Not an ideal offering if they would like to attract the bigger players.
How Much Money Do You Need To Get Started On Olymp Trade?
Traders can start trading with the minimum of $10 deposit with minimum trades of $1. It is a very simplified platform with lower trading values and fewer assets.
Are The Payouts of Olymp Trade Competitive In The Industry?
With payouts of up to 80% they are, quite honestly, not the most competitive when it comes to profitability. However, the low entry and simplified systems do make it a very simple trading option.
It is usual with many brokers to offer various trade types and the option to trade in many different assets. Some brokers may offer 6 or 7 different types of trades. These include the High/Low or Call/Put option then there are 60 Second trades, One Touch, Ladders and Pairs and Long Term. This isn’t the case with Olymp Trade and there is just 1 type of trade, the basic Call/Put or High/Low trade. Add to this the limited amount of assets available for trading and you really are restricted in what you can do.
With such a limited amount of assets to trade on, a minimum of $10 deposit and the fact that you can only trade on the High/Low Options market it really is the perfect chance for beginners to cut their binary options teeth. Simply choose your asset, currency pairs, gold or silver, and begin trading with $1 predicting whether the asset will rise or fall by the expiry time. The expiry times are limited to end of day, hence there are no options for long term trading.
Review Verdict: Olymp Trade is a legitimate service that works
Consumer Fraud Alert Regarding Olymp Trade
The success of Olymp Trade has given rise to many frauds who try to sell their own fake platforms in its name. This is a big issue as many customers have lost their money in joining from such fake sites. It is advised that customers should be really careful when they are joining and should do some research before they join from any website. To spot these, watch out and avoid sites that claim to write about Olymp Trade, yet the write-up is completely garbage and unreadable as they are created by software and spammed all over the internet. It is always better to avoid joining from any other site other than the official one. Therefore, it is highly advised that consumers do careful research, or only join from the site from the official website here – http://OlympTradeOfficial.com/ (link opens in a new window). The official website that they have includes the legitimate platform.
Conclusion about Olymp Trade
There is no doubt that this is a great first-time site to get going with. They have proven to do well and they tick most of the boxes of a trustworthy binary options broker. Following our thorough Olymp Trade review we found no warnings that may imply that this broker is legit and we found zero legitimate complaints.
Olymp Trade Preview: (to pause video, simply tap/click on it)