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A few questions about Olymp Trade broker

Shal · 9 · 1236

Shal

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on: Dec 24, 2018, 03:09 AM
The broker offers options and forex. I heard that the first one is a quite risky thing, but forex is another matter. Deposit requirements are rather modest. I'd like to know if you can really make money with this broker and are Olymp Trade's trading terms as fine as other brokers'?


Jugrel

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Reply #1 on: Jun 27, 2019, 08:53 PM
The broker offers options and forex. I heard that the first one is a quite risky thing, but forex is another matter. Deposit requirements are rather modest. I'd like to know if you can really make money with this broker and are Olymp Trade's trading terms as fine as other brokers'?
I’m trading at Olymp Trade both options and on Forex. But this is the tactics, I’m hedging the positions with those different tools to minimize the risks. Many people I know are trading only with one thing, so if you want to trade just on Forex there are also some advantages. Regarding the possibility to make money with Olymp -  I don’t know like others are doing, but I manage somehow to get the profit))) Almost for two years I end up every month with profit, although in the beginning, the income was modest, but I also was not a super pro and I was happy at least to be in black.
Regarding Olymp conditions - I can not compare with all forex brokers, as I worked only with one before. But comparing with my ex-broker Olymp definitely has better conditions. There is only one nuance. It is better not to leave the deals opened with Olymp Trade. Based on the asset the commissions for the transferring deal to the next day can be not very pleasant. Especially if you are trading with big volumes. However my personal strategy is something between intraday and scalping, so I don’t have any issues with it :)
Olymp Trade has a very cool platform. The most of brokers offer Meta Trader 4 or 5. These platforms are more familiar to forex traders, but comparing to the Olymp platform it is old school. Although Olymp has even better functionalities. If you are just starting to trade on Forex, the education from Olymp Trade will be very useful. They have webinars and just a lot of educational content on the website. Other brokers also conduct training for the newcomers, but not all, and even less offer this option for free.
Maybe I have a little bit of subjective opinion as I’m trading with Olymp Trade for quite long, but I think it is a great option for trading. At least as you wrote you can start with them even with a little money – you can try and if it won’t work out you will look for a new broker.


Kimbro6

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Reply #2 on: Jun 28, 2019, 01:33 AM
I would say olymp trade is useful for those who know the stratergy of trading well.Olymp trade also offer the bitcoin trading and many other currencies and also you can learn the trading firstly before investing money.
« Last Edit: Jul 22, 2019, 11:13 AM by FutureGizmo »


Spellstalker

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Reply #3 on: Jul 17, 2019, 02:02 AM
Olymp trade is just as good as other brokers. I suggest that you check Forex Peace Army's review section about brokers, and you'll definitely have your questions answered. You can ask more questions about the broker if you still feel dissatisfied. What matters in broker selection is ease of withdrawal, regulation status, transaction costs and whether they offer demo trading or not. Check their customer support as well


Shakalar

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Reply #4 on: Jul 23, 2019, 01:59 AM
I have seen my friends successfully trade on Olymp trade, so I guess it's a fine broker to deal with. They offer forex, Options and crypto trading as well, so the choice is yours. For more answers to your questions, check their clients' review section and see what former clients have to say. Just be sure to do your research first before investing in these high risk businesses


Coidor

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Reply #5 on: Jul 24, 2019, 04:00 AM
Thanks for the information, timely enough - I'm just looking for a broker. Still doubting between Forex and options market. I suppose trading on two markets at once might be way too challenging, all the more without any practice..


Jugrel

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Reply #6 on: Jul 24, 2019, 09:14 PM
Huh, those Forex Peace Army are tough guys indeed :) A good half of their brokers have awfully low ratings because they punish for just any complaint against a broker. Sometimes you can even see that the complaint is utterly foolish, but they would lower the rating all the same. Comparing to others, their rating of Olymp Trade is actually pretty decent...

Coidor, personally I think one can start off on just any market, be it options or Forex or whatever else. That's OK even for a newbie. You should just see for yourself what you like more. By the way, if anything goes wrong, Olymp Trade allows you to change a market with just a click. The important thing is, you should take some practice before you start trading for real. Read some manuals, watch webinars or master-classes or whatever - that should help.


Coidor

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Reply #7 on: Jul 29, 2019, 07:25 AM
Jugrel, thanks for the advice! I've also been thinking of training, but I don't know where to start. There is plenty of info on the Internet, but you never know how useful and relevant it is. I wouldn't like to learn a strategy that would just make it worse, you know...


Jugrel

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Reply #8 on: Jul 31, 2019, 02:17 AM
You might take the free training that Olymp Trade provides. I've taken it already, even though I wasn't totally inexperienced when I started trading with them. The good thing is that the training here is carried out by professionals, despite the fact that the material is intended for newbies. I discovered something new for myself as well. It turned out that I've got some gaps in background knowledge. And if you haven't really traded or learned about the whole thing so far, it will be all the more helpful.


 


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