How to Deposit Money in Olymp Trade from India?
Olymp Trade is one of the most well-known forex online trading platforms that ensure its traders make secure and profitable investments in India and around the globe.
Olymp trade offers a many deposit option for its users like Bank cards (Visa/Mastercard), Net banking, UPI, Skrill, Neteller, AstroPay Card, GlobePay and Bitcoin.
You can deposit funds into your Olymp Trade account in India by following just these simple steps,
- Verifying your personal details
- Choosing preferred payment method
- Providing accurate payment details
- Activating your Deposit Bonus
- Confirming your payment
Indian forex traders now have the opportunity to invest without compromising on the safety, information or accessibility of deposit pathways.
Factually, it's a straightforward process, and Indians can make deposits on Olymp Trade through their PC or desktop website as well as their handy mobile app.
Here is a comprehensive aid in making deposits on Olymp Trade that covers all you need to know. Read on for further steps on how to make a deposit on Olymp Trade.
How to Deposit Money in Olymp Trade? | Step by Step Guide
These steps to make a deposit are quite the same on the desktop site and the phone app.
1. Verify Your Details
Make sure all your account details are accurate as per your knowledge. This step is essential as Olymp Trade requires you to submit only correct information about yourself to verify your account.
Once you fill in your details, it is recommended that you turn on two-factor authentication to strengthen your account's security further. Once you turn on two-factor authentication, you will receive a secret code via email and SMS every time you log in, which you have to verify before you can access your account.
2. Choose your Preferred Payment Method
The amount you choose to deposit can be typed out manually or selected from the drop-down list of options. The options presented to you will depend on your country of residence (as per the information you submitted for registering your account).
In the “Payment Method” slot, some options that are palatable to Indian currency are available to choose from. Pick a method you can use for deposits and withdrawals. Save the card you have chosen to use for further deposits and withdrawals by clicking on the “Save Card” checkbox.
You will also find a chat option to talk to the customer care experts at Olymp Trade if you face any difficulties with your deposit.
3. Activate Your Bonus
You may also be offered a bonus to your deposit which you can take advantage of by increasing your account balance and investing in multiple additional assets.
This bonus amount is extra money that will be credited to your deposits to the trading account.
4. Confirm Your Payment
For the deposit to be successful, you have to enter your correct payment details (according to the payment option chosen) and complete the payment to Olymp Trade.
Congratulations! You’ve now successfully made a deposit to your trading account on Olymp Trade.
Olymp Trade Deposit Methods
To start with, investors need to choose a payment method, the amount they wish to deposit, and the bonuses they want to receive.
Olymp Trade has several convenient payment gateways, some of which are compatible with the Indian currency. What's best, each of these payment solutions is user-friendly and runs smoothly on any device.
Here is a list of payment options on Olymp Trade:
1. Credit/Debit cards
Using a Visa/Mastercard is a smart choice as it is straightforward and accessible without much effort. Using any Indian credit or debit card might be a good choice as forex trading is now reaching a point of becoming an accepted venture that the government has begun to support.
Exception: AstroPay cards are also accepted.
This is a more convenient way to deposit as compared to transferring money from Indian credit or debit cards. E-wallets that can be utilised quickly and efficiently while making deposits on Olymp Trade are,
- Perfect money
Convenience at its finest for the youth and the elderly, Unified Payments Interface (UPI) is a quick and hassle-free method for depositing on Olymp Trade. It’s instant, real-time and allows inter-bank transactions. You could use UPI applications like,
4. Net banking
Net banking can be performed from any of your Indian bank accounts. There are options where deposit limits decide whether your money will reach your Olymp Trade account instantly, within 2 hours, or within a day. The Banks are-
- State Bank of India
- ICICI Bank
- HDFC Bank
5. Bitcoin, Ethereum, Tether
Cryptocurrencies are only going to make cashless transactions a reality, and their decentralised approach works wonders in forex trading as well. Feel free to use either of these cryptocurrencies when depositing money into your Olymp Trade account.
Note: While Olymp Trade does not charge any fee on deposits, there is a brokerage fee of 0.8% to 15% on your investment value.
Does Olymp Trade Charge a Fee on Deposits?
Olymp Trade asks for no amount other than the deposit you have chosen to invest. On the contrary, Olymp Trade provides you with a bonus you can add to your deposit instead!
Keep in mind, depending on the payment method you use; you may be charged a fee on the payment provider’s end when you trade with currencies other than the Indian currency. These fees vary based on the payment service you use. Also, the charges will be mentioned on the payment provider’s website or will be shown as you make your deposit.
Olymp Trade Minimum Deposit in India
The minimum amount to make a deposit on Olymp Trade is 10 US dollars, and the minimum amount you can start trading with is 1 US dollar.
Once you register your account on Olymp Trade, your trading account is instantly opened, and you can then make a deposit to start trading.
Keep in mind, forex traders will not receive any bonus with this amount.
How Long Does a Deposit take?
The deposited funds are usually remitted to traders quickly, but they may take 3 to 5 business days at times, depending on your E-wallet or payment provider.
If the money has failed to be credited to your account immediately, kindly wait for an hour and check again.
In case the money was credited from your funds but is still not reflected in your Olymp Trade trading account, you need not worry. Just reach out to the customer support personnel on Olymp Trade, and they will help sort out all deposit-related problems.
Olymp Trade Deposit Bonus
Deposit bonuses on Olymp Trade are extra amounts provided to increase your deposit. They are handed to certain investors as freebies depending on their account activity and the amount of money they are depositing.
Remember, bonuses can only be used to increase your deposits and investments and never for withdrawal. So now you, as a trader, will have a chance to win more for less actual money.
How to Receive a Bonus?
Whenever you deposit money onto Olymp Trade, you will be provided with a bonus. This bonus is higher for VIP accounts. The bonuses start when you deposit at least 30$ in a regular account. Thus, each time you deposit 30$ or more, you will be rewarded with a bonus. Therefore, the more significant the amount you invest, the bigger the bonus your account is pumped with.
We've explored the common Olymp Trade deposit problems that users face when making deposits. Since it's in Q&A format, it should be easy to digest.
This is the question asked by most new investors but one that does not have an easy answer. Investing and trading is a high skill, high-risk activity that takes time to master.
Full-time traders have to put in weeks, if not months, of training and practice to become top-notch traders in the present day.
If you are just starting out, the general rule of thumb that you can keep in mind and follow is this — never invest more than what you can afford to lose.
Hence, while the potential financial upside is highly lucrative, the potential financial downside is also a real danger forex traders face. Not to forget, never start your trading journey by emptying your life savings.
The single most accessible way to deposit money into your Olymp Trade trading account is by using a Visa or MasterCard for paying. Just make sure that your card is valid and registered in your name.
To add money using the card, you need to enter the card details accurately. These include the card number, expiration date, the card’s CVV, and your (the cardholder’s) name. You can also save these card details on Olymp Trade for all future transactions.
If you are an Olymp Trade trader, you get the exclusive chance to become an owner of the Olymp Trade VIP account. This VIP account requires only a slightly bigger initial deposit (at 2000$ or more) than a regular trading account.
Though this may seem quite big, you'll be happy to reap the rewards of the additional benefits you get access to. Remember, they are not available with the regular trading account. As a VIP account holder, you get extra bonuses on your deposit - and big ones too!
If you have opened a VIP account and deposited $2,000, you will be eligible to get a 30% bonus, which sums up to an amount of 600$ for free!
Similarly, if you were to have a VIP account and then make a deposit of $5,000, you are eligible to get as much as 50% of the total amount, which comes up to $2,500 as a bonus.
These bonuses are invaluable as the more money you have on the trading account to trade with, the more possibilities you’ll have, and the higher your potential returns will be.
Yes, you definitely can! With Olymp Trade, feel free to use Indian Rupees or any other local currency to deposit money to your Olymp Trade account.
Once you deposit the amount into Olymp Trade, it is automatically converted into USD or EUR, according to the currency of your account. Similarly, for withdrawals, you can withdraw your Olymp Trade trading profits from your trading account in the preferred local currency of your choice!
No, one cannot earn any money without making a deposit. Deposits on Olymp Trade act as a sort of savings that you withdraw from during trade.
If you are not yet confident in investing real money, you can always utilise the free demo account that will provide you with 10,000$ in dummy money to begin your investment journey on Olymp Trade. Although you can't earn any money from this, you can learn how to trade! What's best, demo accounts give users access to trading and analytical tools to guide them in getting accustomed to the platform.
Forex trading is a relatively newer venture in India. So, using Indian credit or debit cards might cause a few obstacles. Hence, using an international E-wallet, on the other hand, is the most seamless and straightforward way that agrees with Indian and international standards of forex trade.
Now you know how to deposit money into your Olymp Trade trading account and navigate bonuses to your advantage in the forex trade market.
Though investing comes with certain risks, Olymp Trade ensures overall security during transactions, deposits and withdrawals.
For more information on Olymp Trade Withdrawal, read our article: Olymp Trade Withdrawal: Methods, Issues, and Fees Discussed
Indians taking their first steps into international forex trading now have the necessary tools and education provided to jumpstart their trade journey.
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