What is Olymp Trade and How to Use it from India? [updated in 2021]
Total Score: 98/100
Olymp Trade - our #1 Broker for India:
What is Olymp Trade?
Olymp Trade is a globally trusted online trading and investment platform established in 2014. The broker is owned by Saledo Global LLC and has over 60 million registered users from 139 countries that produce an average $6,100,000,000 trading volume every month.
So we can say that it is one of the most popular trading brokers in the world, and India is one of their significant target markets.
In this Olymp Trade review you will learn why we recommend Olymp Trade for Indian traders, how to use it, what we like and dislike about it.
Olymp Trade offers nearly 100 tradable assets and the following trading instruments:
7 Things we love about Olymp Trade
Olymp Trade is currently our #1 broker recommendation for India, and we want to show you 7 arguments why:
1. Trustworthyness - Category A Broker with International Financial Commission
Olymp Trade holds the highest standing as a Category A Broker with FinaCom, which is an international 3rd party financial association that provides traders with an outlet to handle disputes they may have with a broker.
Although Olymp Trade is able to usually solve any disputes with clients directly, since they are a member of FinaCom, clients of Olymp Trade that feel like they haven’t been treated fairly have an outlet to have FinaCom step in and arbitrate a solution.
FinaCom provides all Olymp Trade clients with asset protection of up to 20,000 Euros in the event that Olymp Trade fails to abide by their arbitration decisions.
This gives traders peace of mind when choosing to deposit with an international broker.
2. Very Visual, Award-Winning Trading Platform
One of the biggest attractions of the award-winning Olymp Trade platform is its focus on ensuring every kind of investor — big or small — is granted smooth access to the markets regardless of their individual risk appetite.
The platform itself is very fast, clean and extremely visual, so even novice traders won't find it confusing. On the default screen, you will only see what you exactly want to see: the selected asset, the current price chart and your trading options.
By default, everything else is hidden, so it won't distract you with hundreds of functions like most of the brokers do. But of course if you want to access trading tools, strategies or tournaments, you can easily reach them from the left sidebar.
Among the many awards achieved by the Olymp Trade platform, here's a list of some from recent years:
Nearly 100 tradable assests
Olymp Trade gives clients the ability to trade on nearly 100 different markets depending on the interest of individual traders.
From currency pairs like US dollars, Euros, Japanese yen, and Russian rubles to popular stocks like FaceBook, Google, and Apple, Olymp Trade has the biggest markets covered.
Additionally, Olymp Trade offers a range of international ETFs like the S&P 500, NASDAQ, and Hang Seng, but also features some very market specific funds like the U.S. Real Estate ETF and the U.S. Dollar Index. Of course, commodities like Gold and Oil and the most attractive crypto currencies like Bitcoin and Ethereum are also available.
3. Ideal Broker for Beginners
Olymp Trade is extremely focused on providing access to market trading to investors of all sizes and backgrounds and their global success is a testament to this commitment, but they are clearly focusing on novice traders with most of their features:
Free $10.000 Demo Account and $1 real money trades
Every Olymp Trade client is given a free Demo Account with $10k in funds that can be replenished at any time.
This is a powerful tool to help you get familiar with the platform, the tools of the trade, and to test out the strategies that you’ll want to employ in making profitable trades.
Fixed Time Trades on Olymp Trade can be executed with as little as $1, which eliminates barriers to the markets that many new investors have when dealing with high-priced brokers that don’t even offer as many advantages.
$10 minimum deposit and 100% welcome bonus
Olymp Trade only requires a minimum deposit of $10 to open an account and they have no fees on deposits or withdrawals. Setting up an account takes only a few minutes and is easy to do whether you’re a novice or an experienced trader.
Additionally, new clients are given a 100% bonus to their accounts equal to their first deposit if it’s done in the first hour of registration on the platform. This is huge because it will turn your $100 deposit into $200 giving you more trading opportunities right off the bat.
No account management fees
Finally, Olymp Trades has no “account” or “maintenance” fees of any kind and their commission schedules are clearly defined for their clients whether they are trading with Fixed Time Trades or Forex CFDs. Clients always know what they will be paying in commissions and this is essential for profitable trading.
24/7 Customer Support in English and Hindi as well
Olymp Trade is a truly international company and employs support professionals in over a dozen different languages including English and Hindi.
Multi-lingual support covers technical issues, account services, and financial counseling and is available through email, online chat, and even direct phone conversations. Clients can rest assured that Olymp Trade’s staff are knowledgeable and competent and not just your typical “Call Center” employees.
4. A lot of deposit and withdrawal options for India
Olymp Trade provides many different deposit and withdrawal methods using
5. One of the best risk/reward ratio in the market
Fixed Time Trades with up to 92% ROI
Olymp Trades innovative Fixed Time Trades provide huge returns on investment (ROI) for their clients. These returns will vary based on market conditions and on the type of account the client has established, but the opportunity to make a $92 profit off a $100 trade in 5 minutes is powerful.
In comparison, most brokers like IQ Option or Binomo offer an average return of 80-86% for successful trades.
For clients with Expert status, Olymp Trade provides a monthly amount of risk-free trades where a client can cancel a trade gone bad and keep their invested amount.
Even the best traders will make a poor forecast from time to time so having the ability to recover from a bad decision is an amazing feature offered by the broker.
6. They give you free education and useful tools
Olymp Trade is truly committed to the success of their clients and their growth over the last several years is a testimony to this.
Clients of Olymp Trade gain access to professional trading tools like charts, analytical resources and 20+ indicators like RSI, MACD, Alligator, Bollinger Bands, etc - for free.
Even more important, Olymp Trade provides ready-made trading strategies, seminars and tutorials on how to use these tools effectively when trading. Take a look at the huge amount of content that they have created to help their clients and you’ll see that it’s clear Olymp Trade is invested in the development of its clients.
7. You can use Olymp Trade on any device
It doesn't really matter whether you prefer trading from your PC, laptop or Smartphone, Olymp Trade has a solution to nearly every possible scenario, including:
- App Store and Google Play app
- Application for Huawei and Samsung mobile phones at the Galaxy Store
- Android APK which is basically a downloadable webtrader
- Downloadable desktop application for Windows and Mac
- they even have a seperate app for the Metatrader4 platform and an app called "Olymp Plus" which is more about financial news and market overviews
How to start trading at Olymp Trade from India?
The steps of getting started at Olymp Trade is easy:
- Visit the Olymp Trade website. Their website is available in English and Hindi as well.
- Register with a valid e-mail address, password, and pick a currency.
- After registration, get familiar with the web trader or download one of the mobile applications.
- Play around with the $10.000 free demo account: check the trading tools in the left sidebar, try out strategies and indicators
- To progress to the Olymp Trade standard account, make a minimum deposit of $10.
- Trade and make a profit (tip: use Olymp Trade's tutorials and guides)
- Before you can withdraw your profit, go through the KYC (know your customer) verification process. This is required by law to prevent money laundering.
Conclusion: Olymp Trade is our #1 Recommendation
Olymp Trade is highly recommended because it is one of the leading online trading and investment platforms globally and an ideal choice for beginner and experienced traders as well.
Because of the FinaCom regulation, Olymp Trade is trustworthy and your capital is safe up to 20,000 Euros in case of a dispute.
The company has won multiple consecutive awards for its excellent customer support broking and trading platform capability and they have an excellent customer service for India, too.
Jump over to the Olymp Trade site, set up an account in minutes, take a good look at all the resources and options available to you, and then get going on your way to realizing your financial plans.
Total Score: 98/100
Olymp Trade Pros
FAQ - Frequently Asked Questions
Is Olymp Trade safe?
Yes, Olymp Trade is safe because it's regulated by the International Financial Commission (IFC). There are Know Your Customer (KYC) and Anti-Money Laundering policies in place.
Is Olymp trade legal in India?
Even though Olymp Trade is not controlled or monitored by SEBI or the RBI, still it's not technically illegal in India. In other words, if a trader faces any issues with the broker, the Indian Authorities will not be responsible nor intervene to help.
However, online brokers like Olymp Trade do not require a license from any Indian regulatory body to accept traders from India, so Indian citizens are allowed to open an account and trade there.
Can I make money from Olymp Trade?
Yes, you can make money from Olymp Trade, but you have to understand that online trading is risky and you definitely can't get rich overnight.
It should be done based on the formulation of appropriate strategies. Luckily, Olymp Trade has a visually and technically stunning online platform that is fun and easy to use. It has rich educational resources (trading basics to advanced technical analysis) to equip you with the right knowledge and strategies before you plunge in with your first investment.