What is Olymp Trade? 5 Things You Need to Know
People that want to start trading often choose Olymp Trade. Yet, this is necessary to understand what is Olymp Trade before you dive into this new activity. Someone might confuse trading with gambling. Others are assured it’s possible to make profit with a 100% certainty here, and they are not ready to accept the risks. So it’s important to figure out how to earn money with Olymp Trade.
What is Olymp Trade?
Olymp Trade is a broker. It’s an intermediary on financial markets for individuals who want to trade. The company provides quotes (prices of the assets that you see on the charts) and leverage — a tool that allows you to trade with a bigger volume than your actual investment. The broker takes its customers’ trades to the market.
Charts are a visual representation of assets’ price (quotes) over a set period of time (1 minute, 1 hour, etc.). It visualizes how a price has changed in the past and makes it possible to make assumptions about how price might change in the future.
What is Olymp Trade platform, and how to earn money on Olymp Trade?
Olymp Trade supports several platforms where traders can gain access to financial markets. Those are proprietary web, desktop and mobile Olymp Trade applications, and a commonly known MT4.
Olymp Traders can choose from Fixed Time, Forex or MT4 based on their personal preferences. Some traders love the simplicity and dynamics of Fixed Time trading. Others want to take advantage of forex trading opportunities in a user-friendly environment of Olymp Forex platform. MT4 has also got many advantages such as easy workspace customization, the use of automated strategies (Expert Advisors) or rare indicators, so this Olymp Trade product is also popular among its clients.
How to earn money on Olymp Trade?
The price of financial assets, such as stocks, currency pairs, or cryptocurrency, is continuously changing and is influenced by a number of factors. Financial news, political decisions, and pandemics are just a few of the key factors that result in price movements.
Buying at a lower price and selling at a higher one is what traders make money with. Speaking of Forex, the difference between a purchase and sale price is what the profit is made of. With Fixed time trading, you don’t even have to bother to buy and sell the asset. All you need to do is predict whether the asset’s price will go up or down within a certain period of time. In this case, you stake some money on your prediction, and if the forecast is correct, you get the reward. If it’s not, you lose your stake.
What do you need for successful trading?
You need a reliable platform, tools for technical analysis, and a risk capital to succeed in trading. The broker can help you with these. What’s good about Olymp Trade is that they offer all of the below opportunities and features:
- Reliable trading software. No matter which of the offered apps you chose, they all have a stable connection, enough technical analysis tools and built-in indicators to make your forecasts more accurate.
- There are different financial assets offered at Olymp Trade: currencies, crypto, indices, stocks and metals, etc. Professional traders prefer to diversify the opportunities offered by financial markets and trade several assets simultaneously. It’s possible to make more profits and hedge the risks this way.
- The minimum deposit amount is only $10, which is an excellent opportunity for anyone to try a new career and start making money online without investing much from the very beginning. Successful traders can multiply their savings quickly enough, yet this is important to know that aggressive trading approaches assume a greater level of risk.
- There is a free demo account here, so you can first put your skills to the test using it. The only difference between Olymp Trade demo and the live account is that the trader uses virtual money, not the real funds. If a trader makes a mistake on a demo, this won’t have any negative financial consequences.
The 5 pros of Olymp Trade you need to know
There are some pros of the company that will help you make your way to success with this broker once you know about them.
- The first and foremost is the qualified support team that responds quickly. The support is on call 24/7 to help you with any questions and issues.
- The second advantage is the reliable mobile app. There are a lot of reviews about Olymp Trade that confirm the superior qualities of this trading app.
- The Insights tool for fundamental analysis is right there in the app to your service. You can learn what professional market analysts think of the further direction of the price real-time, which might help you with your forecasts.
- There are a lot of indicators in the platform. There are also detailed tutorials on how to use them in trading. For example, you can learn how the SMA can help you to identify a trend and show when it will end. Or how to find the trend reversal point with Bollinger bands.
- Olymp Plus adviser is also available for both desktop and mobile. The program generates trading signals, which significantly expands the opportunities you can take trading with Olymp. It is also a great source of educational materials that can help new traders pave their way to success.
Customer’s reviews
To know more about Olymp Trade you can read trader`s reviews. Some contain information about trading tools in the company. Other reviews about Olymp Trade disclose the difficulties that users might experience with the platform. Good to know that almost every Olymp Trade review says that the funds withdrawal is fast and reliable here. There are no limits on the maximum withdrawal amount. The minimum payout amount is 10$.
Many traders note outstanding traders’ education in the company. It’s free! Other traders focus on self-education and that’s when they praise unlimited and 100% free demo accounts with live market quotes.
Some of the reviewers are bothered by the question: “What is VIP status in Olymp Trade?” There is an Expert Status, which increases profitability on assets in the Fixed Time platform. It also gives you risk-free trades, top priority for withdrawals, personal analysts, and other advantages.
There are tools, reliable software, free education, demo account, and affordable minimal deposit here. Newbies and advanced traders can all find their way to earn money with Olymp Trade! Just remember the path to success starts with the first step. Now that you know what is Olymp Trade you can go further and try it yourself.
