How to deposit on Olymp Trade – Methods & Tutorial
Do you want to know how to deposit on Olymp Trade and the deposit methods the broker provides? You are at the right place. So, read on to find out. We tested this online trading platform in detail and give you professional information about it in the next sections. With more than 7 years of experience in financial trading, we exactly know how to spot a good online broker. Olymp Trade is one of the most popular ones at the moment. Inform you before signing up with them.
Review of the Olymp Trade Deposit Methods
Olymp Trade offers multiple deposit methods to its clients. You can use electronic wallets such as Neteller and Skrill. Otherwise, you can choose to use cards such as Visa and Mastercard. You can also fund your account with Bitcoin. This method is especially fast. However, before you can deposit funds, you must already have a verified account.
All in all, Olymp Trade deposit methods are:
- Cryptocurrencies (e.g. Bitcoin)
How high is the minimum deposit?
Presently, Olymp Trade has a required minimum deposit of just $10. Also, you can make a minimum investment of $1 on your account via the broker’s platform. However, while it is advisable you start trading with an amount you can afford to lose, it is not recommended you start with so little.
The fact is: In our opinion, $10 is too small to start trading. And if you want to boost your chances for success, you had better begin with a larger amount.
- $10 for all the deposit methods
(Risk warning: Your capital is at risk)
How to do the deposit step by step
In the following tutorial, we want to show you exactly how to do a deposit on Olymp Trade. First of all, you should fulfill the account profile with your personal data. This is very important because Olymp Trade needs to know your identity. Furthermore, the broker can request documents from you. If you registered with Olymp Trade you can go to your account profile and type in your personal data.
1. Fulfill your personal account data
Insert your full name, confirm your email address and telephone number. Then you are done and ready to deposit. In addition, you can activate two-factor authentication. This is a security option. When you log in on the platform you will get an SMS or email. You have to confirm the login. It is a double check of your account and identity.
2. Choose your payment method
As mentioned above you can deposit by different payment methods. Sometimes the payment method is depending on your country of residence. When you open “select a payment method” a chat will be opened automatically. The professional support employees can help you by doing the deposit.
3. Choose the investment amount and activate a bonus or not
Now you have to choose the investment amount. There is also the option to activate a deposit bonus. This is additional money which credited to your deposit. The bonus will allow you to trade with more money. There are no restrictions for the withdrawal but you can not withdraw the bonus amount. The minimum deposit is $10 and the maximum amount is $15,000 per transaction.
4. Confirm the payment
For a successful deposit, you have to insert your payment details of the method as you see in the picture below. Then you can confirm the deposit and the money will be credited to your account directly.
What do you get for your minimum deposit on Olymp Trade?
Before you venture into trading, you must be wary of brokers’ scams. Olymp Trade is one of the few legitimate brokers around with whom that is not a concern. The broker is licensed and regulated by the Financial Commission (FinaCom PLC) of Hong Kong. So it is safe and secure. Little wonder that it has been able to attract over 20,000 active traders in its just 5 years of existence. At least, also, 30,000,000 transactions are executed on it every month.
From ETFs, cryptocurrencies, stocks, commodities, and indices to currency pairs, Olymp Trade provides over 80 financial assets to trade. Plus, its platform is easy to use, with features clearly laid out. As a result of this organized nature, users can easily find their way around it. Moreover, you can access the platform on both desktop and mobile. The desktop version can be used on both Windows and Mac. The mobile version, as well, is compatible with both iOS and Android.
Therefore, the advantages of trading with Olymp Trade are:
- Safety and security.
- Deposit starting at $10.
- Free demo account.
- Over 80 assets covering ETFs, cryptocurrencies, stocks, commodities, indices and currency pairs.
- Up to 92% payout on profitable trades.
- Highly-Responsive customer support.
(Risk warning: Your capital is at risk)
Are there deposit fees?
There is a wide range of transaction fees that brokers charge. One of them is the deposit fee. Generally, Olymp Trade does not charge any fee on the deposits and withdrawals of its clients. However, there is a deposit fee of 1% when you fund your Olymp Trade trading account with Skrill.
Is your money safe with Olymp Trade?
Olymp Trade only offers regulated payment methods. From our research, we know that the money is managed in European banks. There are separate accounts and the company is not using customer’s money for investments or hedging. Also, Olymp Trade is a regulated broker which has high-security standards. The website is encrypted with an SSL 256-bit certificate and on the deposit menu, you will find different security checks.
How much to invest in Olymp Trade?
So, how much should you invest in Olymp Trade? That is not easy to say. However, the rule of thumb in trading is that you should not invest any amount that you cannot afford to lose. That is, you should not start trading with your life savings, for example. The consequence can be disastrous.
Also, before you start trading, endeavor to learn. To that end, the broker’s education features which include out-of-the-box tested strategies, introductory courses, and webinars, will help.
To start trading with Olymp Trade is easy. Within 30 seconds, you can sign up for an account. Then, the broker allows you to take a short interactive course it has structured specifically for beginners after which you can choose one of the ready-to-go trading strategies it suggests.
Else, you might want to start with a demo account first. The Olymp Trade Demo Account is funded with $10,000 virtual funds for traders to experiment with. On the live account, the broker guarantees up to 92% payouts for its VIP clients’ profitable trades.
Nevertheless, before deciding how much to invest in Olymp Trade, you should first profile your attitude to risk by asking yourself some specific questions:
- What are your trading goals?
- What is your risk-reward policy?
- That is, how much are you willing to risk per trade?
Conclusion: Fast deposits on a secure trading platform
From our discussion, you would have noted that Olymp Trade can be used with the utmost peace of mind. The broker is licensed by the Financial Commission (FinaCom) of Hong Kong. Consequently, it is safe and secure.
Additionally, Olymp Trade does not place excessive capitalization requirements for aspiring users. Of course, the required minimum amount of $10 is small and you can execute investments as low as $1 on its platform.
Moreover, it supports quite a significant number of methods for depositing and withdrawing. There are digital wallets such as Neteller and Skrill. Also, you can use a Visa, Mastercard or Bitcoin to fund your account.
Depositing and withdrawing with cards is free. However, you can be charged up to 1% of your funds when you are depositing or withdrawing with any of the digital wallets such as Skrill. Notwithstanding the deposit method used, the broker provides a diligent 24/7 customer support service to handle any complaint you have.
The advantages of Olymp Trade Deposit:
- Diverse methods are supported. Visa, Mastercard, Neteller, Cryptocurrency (e.g. Bitcoin), WebMoney, Skrill, and FasaPay.
- In 2016, the broker became an A-certified member of the Financial Commission (FinaCom) of Hong Kong. This status confers protection of up to $20,000 on amounts deposited with it.
- The payment methods are secure, with clients’ sensitive data always protected.
- The broker has an almost negligibly small minimum deposit requirement of $10! This makes it easy for anyone, irrespective of their capital base, to get on.
- No deposit or withdrawal fee is incurred except when a payment intermediary such as Skrill is being used.
- A 24/7 customer support service is offered via email, phone, and live chat.
Perhaps, the only downside of Olymp Trade is the small number of asset classes it supports. Experienced traders might find that limiting. However, this feature might be beneficial for newbies as it helps to streamline them to the most widely-traded instruments around.
(Risk warning: Your capital is at risk)