Olymp Trade Review 2024: Is Olymp Trade SEBI registered?

olymp-trade-review
olymp-trade-review

Today, we’ll be providing Olymp Trade Review for the year 2024. Olymp Trade is a popular online trading platform that offers a variety of assets to trade, including forex, stocks, and commodities.

But is Olymp Trade SEBI registered? And is it a safe and reliable platform to trade with?

In this blog post, we’ll take a closer look at Olymp Trade and its features. We’ll also discuss whether or not it’s SEBI registered and the potential risks and rewards of trading with this platform.

Whether you’re a beginner trader or a seasoned pro, this blog post is for you. Read on to learn everything you need to know about Olymp Trade before you open an account.

What is Olymp Trade?

Olymp Trade is an online broker that started in 2014. It’s owned by Saledo Global LLC and is located in St. Vincent & the Grenadines. This broker is open to people from over 30 countries. They offer more than 80 different things you can trade, like stocks, money, cryptocurrencies, stuff like gold, and stock market measures.

Now, one important thing to know is that Olymp Trade isn’t regulated in Europe or North America. But they’re part of a group called the Financial Commission since 2016. This group helps protect customers. If something goes wrong, they can cover you for up to €20,000 from a special fund.

You don’t need a lot of money to start with Olymp Trade, just $10. That’s one of the lowest amounts you can find in the trading world.

As of 2020, Olymp Trade paid out about $13.7 million to its traders every month. They have over 25,000 people using their platform every day. These users make about 35.4 million trades every month, with a total trading amount of $179.2 million.

Olymp Trade wants to make sure you know what you’re doing before you start trading. They have lots of resources and educational stuff to help you learn. They also have a team of experts who can give you new trading ideas and strategies.

Olymp Trade Key Features

Olymp Trade has some great features that make it a good choice for trading:

  1. Lots of Stuff to Trade: You can trade a wide variety of things like money, stock market stuff, gold, and even cryptocurrencies. Plus, you can buy and sell shares of big companies like Apple, Microsoft, and IBM. The platform is easy to use, so you don’t have to be a pro to get started.
  2. Learn a Lot: Olymp Trade wants to help you learn how to trade. They give you lots of ways to learn, like talking to experts, watching online classes, and keeping track of important dates in the financial world.
  3. Low Starting Cost: You don’t need a ton of money to start trading on Olymp Trade. You can begin with just $10, which is really low compared to some other places. And when you want to take your money out, you can do it with just $10 too, so you have access to your funds whenever you need them.
  4. Easy-to-Use Platform: Olymp Trade’s website is super easy to understand. You can trade on your computer or even your phone. And if you’re familiar with MetaTrader 4, you can use that on Olymp Trade too.

Olymp Trade Charges | Olymp trade Brokerage Charges

Olymp Trade brokerage charge you different amounts, from 0.8% to 15%, based on how much money you invest. This charge is taken from the total amount you put in.

However, the good news is that they won’t ask you for extra money to maintain your account. There are no fees for that.

Here’s the list of various charges and commissions:

Account TypeECN Account (VIP)Standard Account
Initial Deposit$10$10
Spread0.6 pips1.1 pips
Commission$4 per lot0
Leverage500:1500:1
Ideal forBig traders (up to $5000)Traders with limited capital
Additional FeaturesAccess to VIP consultantsNo commissions
FeesFixed overnight and inactivity feesFixed overnight and inactivity fees
Maintenance FeesNot chargedNot charged

Olymp Trade Account Opening Process

olymp-trade-account-setup-process
olymp-trade-account-setup-process

Opening an account on Olymp Trade is easy, similar to signing up on other online trading platforms.

Here’s a simple guide:

  1. Sign-Up:
    • Register on Olymp Trade using your email and a strong password. This makes you a registered user.
  2. Account Verification:
    • Confirm your account details, including your password, for added security.
  3. Document Submission:
    • Submit the required documents for EKYC (Electronic Know Your Customer) verification, as requested by Olymp Trade.
  4. Select Account Type:
    • Choose between two types of accounts: ECN (VIP) or Standard. This choice determines the assets you can trade.
  5. Fund Your Account:
    • Deposit a minimum of $10 into your account, whether it’s an ECN or Standard account.
  6. Choose Your Trading Amount:
    • Decide how much money you want to trade with, which can be anywhere from $1 to $5000.
  7. Start Trading:
    • Once your account is funded, you can begin trading.

For mobile users, the process is quite similar. The deposit amount is the same for both account types, except for Olymp Trade brokerage charges.

In the Standard account, there are no fees, so it’s straightforward. For ECN/VIP accounts, there is a fee, but you get access to valuable features, expert consultants, and helpful tools in return, making it a fair deal.

Also Read: Zerodha Coin Review 2024: Is Zerodha Coin good for Mutual Funds?

Olymp Trade login Process

To log in to Olymp Trade:

  1. Go to the Olymp Trade website or open the Olymp Trade mobile app.
  2. Click on the “Log In” button.
  3. Enter your email address and password.
  4. Click on the “Log In” button again.

If you have enabled two-factor authentication (2FA), you will also need to enter your 2FA code.

If you have forgotten your password, you can click on the “Forgot Password?” link and follow the instructions to reset it.

Once you have logged in, you will be taken to your Olymp Trade trading dashboard. From here, you can deposit funds, withdraw funds, and place trades.

Also Read: Dhan Trading App Review 2024: Special Offer 50% Off on Brokerage

Is Olymp Trade SEBI registered?

No, Olymp Trade is not SEBI registered. SEBI, or the Securities and Exchange Board of India, is the regulatory body for the securities market in India.

SEBI registration is required for all brokers and other financial institutions that offer trading services to Indian residents.

Olymp Trade is an international online trading platform that is regulated by the International Financial Commission (IFC).

The IFC is a leading independent dispute resolution organization for the financial services industry.

Olymp Trade Customer Care Number

Olymp Trade doesn’t provide a phone number for customer support. Instead, they offer two other ways to get help:

  1. Chat Support: You can chat with a support agent in real-time. They can assist you with your questions and concerns. This is a quick way to get help when you need it.
  2. FAQs Support: They also have a Frequently Asked Questions (FAQs) section. Here, you can find answers to common queries. It’s a good place to look for information before reaching out to support.

Also Read: Motilal Oswal App Review 2024: Is Motilal Oswal Reliable?

Conclusion: Olymp Trade Review 2024

Overall, Olymp Trade is a good choice for beginners who want to learn about trading. They offer helpful educational materials to prepare traders. You can invest in various things like money, cryptocurrencies, stocks, and more, with over 80 options to pick from.

However, it’s important to know that Olymp Trade doesn’t have global regulations, and they don’t separate customer accounts. So, be cautious when depositing your money. Still, many traders seem happy with Olymp Trade, and they offer a valuable trading experience.

Olymp Trade Pros and Cons

Olymp Trade Pros:

  • You can get help anytime with their 24/7 support.
  • They offer lots of different things you can trade.
  • They provide many ways to learn how to trade.
  • You can start with a small amount of money.
  • The trading platform is easy to use.

Olymp Trade Cons:

  • They’re not regulated, so there’s less oversight.
  • They don’t offer many bonuses.
  • If you’re in the US or EU, you can’t use their service.
  • Your money isn’t kept separately from the company’s funds.

Also Read: Groww App Review 2024: Is Groww App Safe?

FAQs

Does Olymp Trade charge for withdrawal?

Yes, Olymp Trade charges a withdrawal fee of 3% on all withdrawals.

Does Olymp Trade really pay in India?

Yes, Olymp Trade really pays in India. Olymp Trade is a reputable online trading platform that is regulated by the International Financial Commission (IFC). The IFC is a leading independent dispute resolution organization for the financial services industry.

What is minimum withdrawal in Olymp Trade?

The minimum withdrawal amount in Olymp Trade is $10 or €10.

Is Olymp Trade safe?

Olymp Trade is a reputable online trading platform that is regulated by the International Financial Commission (IFC). The IFC is a leading independent dispute resolution organization for the financial services industry.

Can Olymp trade be trusted?

Whether or not Olymp Trade can be trusted is a matter of opinion. Some people believe that it is a legitimate trading platform, while others believe that it is a scam.

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