Olymp Trade in Indonesia – Is it legal or not?
Introduction into online trading with Olymp Trade:
Online trading is one of the most profitable, and thus popular ways to make money on the internet. Binary options may be seen as a derivative instrument that allows you to speculate on the probable movements of the prices of financial assets.
In essence, this instrument allows you to “bet” or “stake” (based on careful analysis) on the direction of the movement of assets such as stocks, cryptocurrencies, commodities, and of course, forex. In this case, you are not really interested in the underlying assets, but in the directions, their prices will most likely move. If the price will go in the upward direction, you go for a “Buy”, and if you believe the price will go downwards, then you enter a “Sell” trade. All these and more can be done over the internet.
However, to be able to trade fixed-time trades, you need to get registered with an online broker, who then gives you access to its platform, from which you can then trade.
There are a plethora of brokers out there, and in the mix, we have scams and phonies as well. Hence the need for you to go for credible and reliable brokers who possess certain features, one of which must be that they are recognized in the industry and maintain a commendable track record. They must also be registered with notable regulatory authorities. Olymp Trade is one of such brokers with these features and much more.
What is Olymp Trade? – Overview
OlympTrade is an international binary options broker that boasts up to 25,000 active daily traders spread across Asia, Africa, Europe, and Latin America. Headquartered in St Vincent and Grenadines, it is registered with and regulated by the International Financial Commission (FinCom).
OlympTrade is an award-winning broker, having clinched the “Best Broker” by Forex Expo in 2017, amongst several others.
Olymp Trade in Indonesia – Is it legal?
The services of Olymp Trade are available all over the world, except in certain countries such as the USA, Japan, Israel, Canada, Russia, and a few others, where binary options as investment instruments are entirely banned.
Since the Indonesian government did not place a ban on fixed-time trades, then Olymp Trade is much available in Indonesia; in fact, they have dedicated customer service options for Indonesian traders.
Note: Olymp Trade is fully legal in Indonesia
(Risk Warning: Your capital can be at risk)
Olymp Trade Indonesia regulation
OlympTrade globally is well regulated; as mentioned earlier, it is a member of FinaCom, a well-respected regulator of derivatives brokers. However, Olymp Trade is not registered with or regulated by any Indonesian government financial regulatory agency such as the Financial Services Authority (FSA).
What this means is that in cases of an infraction, no Indonesian body can take up issues with or sanction OlympTrade. However, we must say that this is really nothing to worry about as the OlympTrade has been certified to be a credible broker.
What markets can you trade on OlympTrade Indonesia?
OlympTrade Indonesia allows you to speculate on the direction of prices of assets listed on major financial markets in the world, using binary options. On Olymp Trade, you can trade:
- Currencies/forex (28 pairs)
- Commodities (metals)
It appears there are no individual stocks to trade on Olymp Trade.
Status program on OlympTrade Indonesia
Apart from the demo account that is freely available for everyone when you sign up if you wish to open a live account with Olymp Trade in Indonesia, there are 3 types of accounts available for you to choose from. These accounts are termed “statuses.”
The status or category you belong to entirely depends on the amount of capital you deposit into your trading account with Olymp Trade Indonesia, each coming with its own perks. Below is a summary of all available account types:
The Starter Status account is the most basic type of account. It becomes available when you deposit the minimum allowable balance of $10. The maximum payout rate for a winning trade is 82%.
You need to deposit a minimum of $500 and a maximum of $1,999 to clinch the advanced status. Perks that are attached to this status include an increase of payout rate for successful trades to 84%; the ability to open up to 20 trade positions at the same time; access to consultation with a personal analyst, once every month; 7 already built-in trading strategies, and access to webinars and educational resources.
To be a part of this, you need a deposit of at least $2,000, and the benefits that come with this include the increase of payout rate on winning trades to 92%; the ability to open up to 30 positions; regular one-on-one training, and access to a dedicated personal analyst; 15 trading strategies already built-in; daily exclusive trading ideas, amongst others.
You can, however, upgrade from your current status to a higher one if you earn enough experience points (XP), which you will be given when you make trades in a live account.
Olymp Trade Indonesia services
Olymp Trade Indonesia gives you access to an area of services including 24/7 customer care that you can access via phone, email, or live chat via the website. This is in addition to providing educational services and materials.
However, one very notable benefit that Olymp Trade Indonesia provides its traders and which is relatively scarce in other places is a trading bonus. A trading bonus is a sum that your broker gives you to trade; simply, the broker gives you extra funds to trade, usually as a percentage of whatever funds you have in the account.
OlympTrade Indonesia provides you with several bonus types:
- Welcome Bonus: Just for signing and depositing into your trading account, OlympTrade gives you a welcome bonus of 100% of whatever amount you are depositing into the account; in essence, you have your account doubled. However, you must use this bonus in just 1 hour, or it vanishes.
- Deposit Bonus: Anytime you deposit fresh funds into your trading account, you get credited with a bonus. OlympTrade typically gives you between 20%-50% depending on how large your deposit is.
- Periodical Bonuses: During holidays and randomly from time-to-time, OlympTrade offers bonuses to current and new traders.
It should be noted that bonuses cannot be withdrawn or converted into cash, but they can be used to trade to magnify returns.
Deposit & withdrawal in Indonesia:
The minimum amount allowed for deposit into your Olymp Trade Indonesia account is $10. Deposit channels into OlympTrade Indonesia include bank cards (credit/debit), local bank transfers, depositing via e-wallets like FasaPay, GlobePay, Neteller, Skrill, Webmoney, amongst others, and then, Bitcoin.
All the above are also the channels through which you can withdraw your profits. There are no limits on withdrawal. The minimum withdrawal is $ 10.
Conclusion: Olymp Trade is legal in Indonesia
For a seamless online trading business, you need a stress-free, organized, and tested broker. OlympTrade is one such trusted broker in the trading space.
From our experience, Olymp Trade is in Indonesia legal and fully approved. There are no bans or restrictions for Indonesian traders. You can start with Olymp Trade today and invest in the financial markets.
(Risk Warning: Your capital can be at risk)