Olymp Trade trading platform tutorial
Introduction to trading with Olymp Trade:
Trading online represents one of the most profitable, and thus popular ways to make money on the internet. With fixed time trade, you can speculate on the potential direction of the prices of financial assets.
Essentially, what you do in fixed time trades is “bet” on the direction that assets such as stocks, cryptocurrencies, commodities, and of course, forex will move after some time, called the expiry period. If the market moves in your direction after the set expiry period, you are paid a fixed percentage of the amount you bet. Otherwise, you lose that amount you risked.
To however 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 where you can then trade. There are a lot of brokers scattered over the internet, but not all are credible. In fact, it is widely believed there are more scams and phonies than trusted brokers, as credible brokers are few. One of such trusted brokers is Olymp Trade. This piece gives a description of OlympTrade and its trading platforms.
(Risk Warning: Your capital can be at risk)
What is the OlympTrade platform?
OlympTrade is an international binary options broker that boasts up to 25,000 traders that are active on its trading platform daily. It is present in Asia, Africa, Europe, and Latin America. Headquartered in St Vincent and Grenadines, it is one of the few brokers regulated by the International Financial Commission (FinaCom).
As a result of its commendable brokerage services, Olymp Trade has bagged several awards including the “Best Broker” at the Forex Expo 2017, amongst several others.
Olymp Trade provides quality services across many channels; they are hereby summarised.
- Trading education
- Trading Signals
- Trading strategies
- Multilanguage support
- Fast deposits and withdrawals
Olymp Trade gives you access to trade almost all financial markets cutting across currency pairs, commodities, equity indices, cryptocurrencies, and even ETFs. However, when trading, there are no individual stocks to be traded on Olymp Trade.
- Currencies (Forex)
One outstanding service that Olymp Trade provides its traders is access to a variety of bonuses.
A trading bonus is an amount that your broker gives you to be added to your live account, with which you can trade.
There are several bonus types, but the most noteworthy are Welcome Bonus, Deposit Bonus, and Periodical Bonuses.
Welcome bonuses are given to new traders who are just signing up on OlympTrade and depositing into their live account. It is worth 100% of whatever amount you deposit.
Deposit bonuses are given anytime you deposit new capital into your trading account. Typically, deposit bonuses range from 20% to 50% depending on how much you deposit.
Periodical bonuses primarily operate like promotional offers; usually given during holidays and randomly during contests announced on Olymp Trade’s social media pages.
It is worth noting that Olymp Trade bonuses cannot be withdrawn or turned into cash; their purpose is to boost your trading capital, enabling you to take more risks.
Olymp Trade account types
When opening a “live account” with OlympTrade, there are 3 main account types that you can choose from.
There is the Starter Status Account which requires you to deposit a minimum of $10 as trading capital; it promises an 82% payout rate for winning trades.
Next is the Advanced Status Account that requires a minimum of $500 and a maximum of $1,999. Benefits that come with using this type of account include an 84% payout rate for successful trades; you have the ability to open up to 20 trades at a time; you have access to personal consultations with an analyst, once monthly; your account comes with 7 built-in trading strategies, and you are given access to educational resources.
Finally, there is the Expert Status Account which requires a minimum deposit of $2,000. With an Expert Status, your winning trades can attract up to 92% payout rate; you can keep up to 30 open trades at a single time; you can enjoy regular personal training with a dedicated analyst assigned to you; your account also comes with at least 15 built-in trading strategies.
(Risk Warning: Your capital can be at risk)
Olymp Trade deposit & withdrawal on the platform
The minimum amount you can deposit into your OlympTrade live trading account depends on the account status you desire. Deposit channels include bank cards, e-wallets – Neteller, GlobePay, WebMoney, Skrill; Bitcoin, and bank transfers. The minimum deposit is $ 10.
These channels also serve as withdrawal channels. The minimum withdrawal amount is $10 too.
Other services you enjoy with OlympTrade include access to 24/7 customer service through live chat on the OlympTrade website, emails, and phone; as well as educational materials and resources.
OlympTrade Trading platform presented
You can access OlympTrade’s trading platforms via a mobile trading application for smartphones and a WebTrader for PC as well as the MetaTrader 4 application.
See the screenshot of the Olymp Trade platform:
The OlympTrade mobile trading platforms are available for both Android (downloadable from Google Play Store) and iOS devices (downloadable from the trading platform Store).
OlympTrade’s trading platforms (especially the mobile platform) are said to be one of the very best in the industry, and this has been confirmed through several awards. OlympTrade won the Best Mobile Trading Platform at the Global Brands Awards in 2019, as well as the Best Trading Platform awarded by LeFonti in 2016, repeating the achievement in 2018.
Many key features make the OlympTrade trading platform stand out amongst binary options trading platforms:
It is multilingual
The trading platform is programmed with at least 30 different major languages, giving access to almost all traders globally irrespective of language. Most other binary options trading platforms only come in English and very few other languages.
While some online brokers provide educational resources to their clients, it is rare to see any that include the same in their mobile trading platforms. Most trading platforms are basically for trading.
Olymp Trade includes its educational bundles in its trading platform, making trader education very accessible. The education section contains resources on trading basics, basic and advanced technical analysis, and a 30-minutes crash course.
If you want to access the trading platform via mobile app, Go to your app store (Google Play Store for Android and trading platform Store for iOS). In the search bar, type “OlympTrade”. Then press the “enter” key. You should be automatically redirected to OlympTrade’s official trading platform. Please ensure it is the “Olymp Trade – Online Trading trading platform” with millions of downloads, that you download as there may be clones developed by non-authorized persons.
Otherwise for the WebTrader, you go to its website and undergo the proper registration process.
If you choose to, you can also make use of the MetaTrader 4 platform.
- Upon opening the trading platform, you are tasked to register. You can choose one of 3 methods of registration: an email, Facebook or Google (i.e. Gmail). If you use the “email” option, you might need to verify it; however if you use either of the Facebook or Google accounts already signed up on your phone, you won’t need this.
- You have to select one of two currencies (US Dollars or the Euro) in which your trading capital will be quoted. As such no matter the amount your capital is in your local currency, the Dollar equivalent is what reflects as your balance in your account. Immediately you finish this, you are confronted with the service agreement. You might want to have a look at the terms listed therein. After that, click on the register.
- Demo Account: Upon registering, you are automatically given a demo account with $10,000 virtual money. You can start making trades right away.
- Terminal: The configuration of the terminal on the mobile app looks slightly different from the WebTrader. However, since the app is the most commonly used, it will serve as our reference point here.
The first “section” you come across is the Terminal. On the top left corner of the Terminal is your trading account balance; for now, that will be your $10,000 for the demo account. Right beside it, you have the button to make deposits into your live account.
On the top right corner is a Profile Icon. When you click it, you gain access to your trader profile. Here, you can make settings to your profile. Also listed are available contests, where you can win trading bonuses.
Just below that in the left corner, is the bar containing the market/pair you are currently trading. Clicking on it shows you other markets that you can trade. Directly beside it is an icon that looks like “A” which links you to advisors, strategies, indicators, and oscillators. Next to it is a pencil-like icon, which upon clicking, enables you to customize your chart. Finally, there is a figure beside it, which stands for the current timeframe of the chart. Clocking on it leads to options to reset the time frame.
Then below the chart (just above the status bar), we have the Expiry Period for each trade. Clicking on it will show you options, and you can select the expiry time you want. Then beside it is an icon that reads like “D” with a number following, says “D15”. This is the amount you are willing to risk per trade, and clicking on it allows you to reset it.
- Trades: Next to “Terminal” is the “Trades” section, which shows you ongoing and concluded trades.
- Help: The “Help” section links you to client support and educational resources.
- More: The “More” section contains links Deposits and Withdrawal, Transaction History, Special offers and bonuses, strategies, and general trading platform settings.
Conclusion: Olymp Trade is a reputable platform & software
The Olymp Trade trading platform goes beyond making online trading available at your fingertips, it serves as a one-stop-shop for all Olymp Trade services.
From our experience, it is a reliable platform for online trading. You can start with small amounts of money or even without risk in the demo account. It is a user-friendly software where you can learn to trade for free. Olymp Trade will help you by finding the right strategy.
In addition, the yield is very high and can be up to 92%+. Trade fixed time trades and forex on one platform. The software is available for browser, desktop, mobile phone.
The advantages of the Olymp Trade platform:
- Free demo account
- A low minimum deposit of $ 10
- No deposit and withdrawal fees
- High yield up to 92%
- Forex Trading
- Fixed time trades
- User-friendly platform
- Trading education
(Risk Warning: Your capital can be at risk)