Is Olymp Trade a Legitimate Platform or a Scam In Year 2020!

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Choice!
    Free Trading Education!
    Free Demo Account!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!!!

Is Olymp Trade Scam or Legit? How to check if a Trading Platform is a Scam

To answer for questions like: When will Olymp Trade close? What is the reference for Olymp Trade price? Did Olymp Trade broker manipulate price to make money? There’s many questions about Olymp Trade which imply that it is a fraud. This article will help you answer thoroughly those questions.

We claim that: We are traders of Olymp Trade. We have traded and earned money in this platform and will share honestly our experience about this platform without lying.

Olymp Trade Club will guide you how to check if a trading platform is creditable or not. After that, we will use the method to check Olymp Trade.

How to check if a trading platform is creditable?

All trading platforms you know allow customers to trade online. For example: Olymp Trade’s is olymptrade.com. Therefore we can check the creditability of a trading website based on the web itself.

Is Olymp Trade Scam or Legit? How to check if a Trading Platform is a Scam

Standards that you consider if you look at the domain of a website

Firstly, traffic statistics in a day, especially unique visitor traffic (visitors that visit the website through a unique IP address). You must understand this is a type of trading website, therefore, its daily traffic must be high.

Secondly, the wordwide rank of the website, especially its rank in financial field.

Thirdly, the address of host (site is hosted in…). If the broker plan its development in South East Asia, they will put the host in Singapore or Indonesia.

Fourthly, where does the traffic come from? If you have Olymp Trade account, you will often access Olymptrade.com. Then you become one of the direct traffic sources of Olymp Trade.

Finally, where the traffic sources come from. The more countries they come from, the better the website is. You should watch out if only few countries’ residents use the website.

How to check if a trading platform is creditable?

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Choice!
    Free Trading Education!
    Free Demo Account!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!!!

To evaluate all those standards, Olymp Trade Club encourage you to use Hypestat.com. There’s a lot of websites that you can use to test the cretability of other sites. However, you need to pay money to use them but Hypestat.com.

I will guide you how to use this website for Olymptrade.com and you can check other site with the same way.

So the question is that: Is Olymp Trade scam or legit?

Let’s check

Access https://hypestat.com. Fill in all the information about the website you want to check. In this case, we check Olymptrade.com.

Guide to check OlympTrade.com

Firstly, let’s check daily traffic. There’s over 1,3 million people access the website and among those, there are 972,760 unique visitors.

Daily traffic of Olymp Trade

Secondly, OlympTrade’s wordwide ranking: 1,323.

OlympTrade’s wordwide ranking

If you want to compare Olymp Trade’s ranking with other websites in finance, you can check here: https://www.similarweb.com/top-websites/category/finance/investing

Compare rank of Olymp Trade with other financial websites

Thirdly, host address. You can find in Google map for host address.

Host address of Olymp Trade

Fourthly, it’s direct traffic source of olymptrade.com. 40,90% of daily traffic sources are direct traffic. Every 100 visitors, there are 41 visistors are direct visitors, others come from advertisment and other sources. 41 visitors are most likely traders who access Olymp Trade for trading. Nowadays, most of trading platforms have their own smartphone apps. Therefore, the traffic of website may decrease gradually. For example, only 27% of the traffic in IQ Option platform comes from direct visitors.

Direct traffic of Olymptrade.com

Finally, where does the traffic come from? Actually, Indonesia is not one of the main sources of the traffic.

Olymptrade.com’s traffic sources

If you doubt that Olymp Trade is a scam, you can check and compare with other platforms which you think they are creditable.

When will Olymp Trade close?

A 5 years international trading platform cannot disappear overnight. Let’s use trend search of Google to check Olymp Trade:

Use trend search of Google to check Olymp Trade

There are people from 40 countries all over the world searching Olymp Trade. The blue dots show where people find information about Olymp Trade or access it. The white area is where Olymp Trade has not come yet. Maybe those countries restrict trading or the broker has yet to become popular in those countries.

You do not want to make money in Olymp Trade?

If you think Olymp Trade is not creditable, you can just leave it and find another platform. Olymp Trade is still there with 972,000 visitors per day. It will survive and develop in the future. I hope that you can take responsibility for your choice of being a trader in Olymp Trade or just leave for safer earning sources.

You do not want to make money in Olymp Trade?

We do not tempt you into this game or organize any activities that advertise for Olymp Trade. If you have any opinion about Olymp Trade, we are willing to listen, please leave a comment and we will discuss with you.

Olymptrade – Legitimate Platform or a Scam?

OlympTrade is a trading platform that is designed for all types of investors and traders in mind, from the experienced investors to individuals who want to get a taste of the market. Today, it’s considered as one of the leading trading platforms, allowing its members to get engaged with options trading and forex trading.

As a leading trading platform, OlympTrade provides the market with a one-stop hub for trading, complete with easy-to-understand trading tools and resources that are easy to follow and understand. In an effort to position its brand as one of the leading trading platforms, OlympTrade strives to provide the best trading experience, and at the same time helping its members (traders) get the right skills and boost their income along the way.

OlympTrade real reviews: Is it a scam?

OlympTrade is, of course, widely reviewed online, and majority of these reviews are positive. Our team managed to check and read some of the reviews posted in the top websites and community forums in different parts of the world including Russia, Brazil and United Kingdom.

And based on our casual reviews, we found out that this platform is easy to use, offering its members with friendly services, especially when it comes to funding and withdrawing from accounts. Some reviewers also noted the ability of the platform to allow customers to earn up to 90 percent profit on each profitable trade. In all reviews, customers and traders are one in saying that Olymp Trade offers a satisfying platform for trades.

Broker Bonus Min Deposit Payout Review Open Account
FREE DEMO ACCOUNT $ 10 82 % for Standard, 90 % for VIP accounts* Review Trade Now!

Negative trader reviews:

This trading platform ha also, naturally, received a number of negative reviews and feedback from verified customers. According to some reviews that are posted online, the trading platform is a scam, and will not allow its members to withdraw their funds. However, according to other people, common sense and our examination, these are empty accusations that can all be simply explained below.

Issue No. 1: Customers cannot withdraw their money.

Withdrawal is subject to certain conditions as explained by the following:

  • Customers are advised to verify their identities within a few days of registration and before depositing money.
  • The wagering requirements must be met, if the trader accepts to receive the trading bonus. The wagering requirements are set at x30 the bonus amount.

If these conditions are not met, then the withdrawal of the bonus funds will not be allowed. However, both of the reasons for canceling a withdrawal mentioned above are the same with all brokers in the world. Because of regulations, you are required to verify your identity with ALL brokers. In case you face the same problems, then it’s highly recommended to coordinate with Customer Support.

Issue No. 2: Customers are losing their money

Keep in mind that binary trading is all about risks, and there’s a big chance that you will lose money when you engage in this business. If you want to take the risk, then it’s better to be prepared. One thing that you can do is to try first the demo version of the trading platform before trading for real money.

It’s the nature of trading. Some people make money while the others lose. This is not a reason for calling a broker out. That’s why we always recommend trading on the demo account first, before depositing any real money. Also, keep learning about trading.

After all: Is Optiontrade a Legitimate Trading Platform?

Based on the assessment of the services and business practices, we can say that Olymptrade is not a scam. If indeed this was scamming company, then the most established and experienced investors and traders would have left the platform. Also, they could have left the most painful negative reviews for the trading platform. Based on available evidence and details, it seems that this trading platform offers a legitimate trading opportunity. The website offers transparency, and interested customers and traders can easily know and verify the services, starting from money management to order placement.

How to verify account at OlympTrade?

If you are from Nigeria, India, Pakistan, UK, wherever, the process of verification is the same for everybody on this planet. We are getting more and more questions about “how to verify my account”, “what documents do they want” etc… Please read this below carefully and keep in mind, that the process of verification is still the same and same for everybody, so you don’t need to worry about anything! Let’s go.

So to complete the verification (to withdraw your money) you need to send these documents:

  1. A photo where you hold your passport/ID card in expanded form and where they can see your face and the details in the passport/ID. It’s like a selfie with an appropriate document – nothing more. Note that the photo must be from your shoulders up and it must be easily seen (no blurry). Like on the image below.
  2. Then you need to send them also the photo/scan of the appropriate document that you want to use – ID or passport.
  3. If you used for the deposit a credit card, you also need to send photo/scan of the card from which the payment was made. On the card, the first 6 and last 4 digits, name and surname must be seeable. The validity of the card and the rest of digits can’t be seeable (cover it). The reverse side of the card doesn’t need to be present (they don’t need it).
  4. If you used for the deposit an electronic wallets – A photo/screenshot of the personal electronic purse (Skrill for example) need to be also sent (screen the detail of your account). The information you need to provide is – the picture of number, owner’s name, and the second photo/screenshot must be of that right money transfer (that one your transferred money to OlympTrade).

Where to send the documents?

Upon receipt of the verification request, all the necessary documents must be sent to the e-mail – [email protected] together with the login (the login is the email address) you put during registration.

How long does verification take? Processing of the documents takes up to five business days. And the result of the document verification you will find on your email because you will receive an email with notification about the result.

That’s it – If you need to help with the verification, let us know and we will try to help you.

Corporate Information

OlympTrade is a legitimate and licensed broker which is recognized by the Financial Commission. As part of the commission, each trading account has insurance for $20,000. This trading platform is owned and operated by Wallfort Limited and the Inlustris Ltd, with the following mailing address:

  • Inlustris Ltd
    • Registration No.: 25161 IBC 2020. Registered Address: James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building, Saint Vincent and the Grenadines.
  • Wallfort Limited
    • Registration number HE364695. Headquartered in Irodi Attikou 8A, Lakatamia, 2332, Nicosia, Cyprus.

More info about OlympTrade

Author

More about the author Step

I’ve wanted to build a business of some kind and earn money since I was in middle school. I wasn’t very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

202 Responses to “Olymptrade – Legitimate Platform or a Scam?”

This is very important to complete verification in time. Not only for the sake of bonuses from Olymp Trade (which is indeed very motivating factor by itself) but in order to avoid issues with your account in future. You can forget to complete the verification and you will only remember about it when you try to complete the withdrawal. Broker has the right to lock your account in this case until your verification is completed. Sure enough you’ll be able to unlock it by providing all the paperwork. But agree, this is much easier to do it all at once. This is not just Olymp’s requirement. Its anti money laundry legislation that we all have to obey.

I live in Ghana, West Africa. Can I trade with Olymp Trade? And do you have clients from Ghana, West Africa who I can contact?

IS THIS WORKING IN BOTSWANA
HOW MANY OF THEM HAS SUCCEDED

Please my administrator.this is my first time to deposit money in my real account.am in nigeria.i use fcmb Visa card it keep on saying transation declined.i tried to use Netterler and Skrill still it can not work.please I want to no whether the fault is from my fcmb bank or from my olumpic account.

Hi, Does Olym Trade work in Somalia? if yes, can i withdraw from my account here?

Good guys please I really want to trade Olympic trade on MT4. Does Olymp trade have that?

Unfortunately, they don’t. But you can still open MT4 and analyse the markets there. Then, when you see a good trade opportunity, just open the trading platform in a new window and open the trade.

please what is the minimum withdrawal

Hi Jinadu, There should be no minimum withdrawal as long as you want to withdraw more than the fees – the fees vary in each country and for each method, so I cant tell you the exact number.

Please, how much is the bonus on $10 deposit ?

Could you please enlighten me on the depositing options of this broker? More particularly, do they differ for specific countries, or not? The point is, I’ve heard one can top up the account with bitcoins, and yet there’s no such option in my personal account.

I’m from Nigeria,
What exactly do I need to verify my account.
If I want to start trading

i got a feeling the platform is working against me delebaratly,

I trade on olymptrade, I requested for a withdrawal of 20$, 10$ was sent to me and they told me the next 10$ has being processed and will be sent to me the next working days. Why can’t my money be sent whole. I need answers please

Dear Emmanuel, I think the problem is that you only deposited 10 dollars with your card. The way it works is that the broker can only return the amount of the deposit to your card – not more. The rest has to be sent in a different way – through an eWallet or WireTransfer maybe.

I am facing the same problem, although olymptrade only deposited $20 to my account instead of $36 but now theres no balance left to tranfer to the e wallet please assist

I have a question regarding the bonus you are getting while depositing for the first time. Is it true, that even if I lose the money I deposited? So if I make 1000 dollars deposit, I will get another 1000 dollars as a bonus, and then I lose 1000 dollars in deals I will still have that 1000 on my account? And I will be able to trade this money but don’t withdraw? And when I start to get the income, will I be able to withdraw all the profit?

olymp trade is a big scam,there demo trade is completely different from what you see on live trade..you needed to see what the platform was doing immidiately they got me as client in there cage.i took time to compare the live and demo but its all fake people.i understand onlin trading very well ..my demo was wonderful.coming to live jesus its nothing to right home about.there is nothing anyone will tell me about them.i entered a trade in live ,a selling ,market same time as in my demo also,demo turn out well while live start illegal shaking at the end of the day my live came out losee.
they are criminalsssssssssssssssssssss

Thank you for sharing your experience, we hope it will be useful for other traders.

Iam from Nigeria, i don’t know if Olympic trade work in my country

you will find all information about IQ Option in Nigeria in this article – https://xbinop.com/does-olymptrade-broker-accept-nigerian-traders/

In case you need more info, let us know.

Have a nice day.

Hi, I just want to ask if we can upload our verification documents on the platform upon registration instead of sending our documents to an emails. And beside. Is it save to send our sensitive documents to an email I?

Samuel, yes, please go to your account and upload documents there – do not send it over email.

I have account but I ask olymptrade they said my account doesn’t need any verification so am afraid

In most cases, the verification is done during the first withdrawal. When you request a withdrawal for the first time with an unverified account, you shall receive an electronic letter through your email asking you to submit documents for account verification.

Have a nice day.

Can I submit only my bank statement as my document

Hello, it’s one of the documents, you need more of them.

As it’s written in the OlympTrade review.

Have a nice day.

I just deposited into my live account.And I have traded and I withdrew my profit,but they said I should expect the money in the next five working days.
I need your help because the money has been deducted.

did you get your money, or not?

Let us know, thank you.

Is it possible to use olymptrade here in Zambia?
Thanks.

Dear Sifaya, I think it’s not possible. But go ahead and try IQ Option, they should accept Zambian traders as far as I know. If they don’t let us know! ��

can u also deposit through paypal

No, unfortunately, as far as I know, PayPal is not supported.

It’s more than a year that I’ve been trading with Olymp Trade, and generally I’m satisfied. Making deposits and withdrawing money to the e-wallet is quute convenient, plus, the platform itself is totally user-friendly. In the near future, I’m planning to upgrade my account to VIP. I’ve already received profit on the first deposit, so I need to add just a couple hundred dollars to gather the necessary amount. I read that VIPs get the payout rate of as much as 90%. I wonder how many assets does this relate to, or is it just the EUR/USD currency pair?

Hi, does this olymptrade broker require a certain amount deposit of registration or is it free? And what is it all about I mean what is to be traded?

Dear Kay, the minimum deposit required is 10 US dollars and the min trade amount is 1 US dollar. You don’t need to deposit if you only want to trade on demo account.

Please in all your explanations above, did someone needs to send all the verification before depositing or after depositing and I Want to ask if OlympTrade has just only one app or they has many cause some may be scam and some may be real

Dear Samuel, it depends on your country. Sometimes you need to send documents before depositing, but some times after doing so. But be assured it’s safe and they won’t use it for anything bad. I have personally sent documents to more than 10 broker in the past 5 years and have never had any problem.

Is it advisable to deposit with btc in olymptrade

Akpituren, yes you can do it and there is no problem, just like with other deposit methods.

Hello please I need more guide to verify my account can you help me am from Nigeria

Hello, read more about binary options trading in Nigeria here – https://xbinop.com/does-olymptrade-broker-accept-nigerian-traders/ if you will need more info, let us know. Have a nice day.

J. Pro, I wanna know the maximum withdrawal amount in Nigeria at a go.

Hello, the maximum withdrawal amount is limited only by your bank or e-wallet. The verification procedure does not depend on the amount of withdrawal.

Let us know, if you need more help.

Is it a must we scan an energy bill because I don’t make those kind of payment directly that’s the job of my landlord

Bobby, you don’t have to do that. If you have a bank account you can simply scan the bank receipt with your address.

Hello, if you don’t have an energy or phone bill I guess that you can use a bank account statement. Have a nice day.

Thanks J. pro for your comments so far
Talking about account confirmation, must the name on the utility bill/ electric bill corresponds with my name? If yes, what should i do, because am not staying in my own house, the name on my electric bill is not bearing my name.

Collins, if you can’t use utility/electric bill, you can use the bank account statement which contains your address – that’s the easiest way.

should I send a picture of my credit card to the e-mail address during verification before depositing money?

Yes, but cover the middle 8 numbers! If you don’t, it’s dangerous and you could get scammed.

I am a Nigerian, please I want to know if I can withdraw to my naira debit card if I use it to fund my olymptrade account. Thank you.

Pladayo, as we mention in our article OlympTrade Nigeria, it shoudld be possible to use the Naira card to both deposit and to withdrawal afterwards.

thks for ur review on this trading platform… I have few questions.. 1st of all.. hw long can one trade before he start withdrawing.

2nd, is there any commission charge at the point of withdrawer?

3rd, what are the disadvantages of receiving bonus while depositing…

lastly, if I deposited thru the mobile app, who is my broker. thks

Bolaji, thanks for your questions. You should be able to withdraw even on the same day as you deposit – no problem. The withdraw fees vary and depend on your country and the method you use for withdrawal. Wire transfers have a fee for sure, but withdrawals to e-wallets like Skrill should be free. I do not recommend the bonus feature, because according to the terms and conditions, if you accept a bonus of (for example) 100 USD, you will have to make trades in the total value of 4 000 USD in order to be able to withdraw your money.

A highly innovative company Olimp Trade is constantly inventing various things to provide its customers with profit. Only at the moment there are at least 3 options that will prevent a trader from loosing money. Stop out is my favourite. It will close a deal automatically if the price of the asset begins to decrease after purchase.

pls what type of passport can one use particularlly

Has anyone lost their money in Olymp Trade by scam activities (not in call and put)?

a FyW d yiiE LXjM b afa y e cH E C l nTWv a Zfbw s HOIO t ydvpv i Y c XRad

I heard of it but never experience it first hand. But the common thing that I always read is bad reviews about Olymp Trade to the point they accused that Olymp Trade is a scam broker.

However upon further checking, when people said that they have been scammed by Olymp Trade, it is usually because they have violated the company agreement.

You may already know that investment platforms typically have affiliate marketing programs, or otherwise known as affiliates. It is for individuals who are able to bring a large number of users to the company.

These people are usually owners of investment webs.

Best Binary Options Brokers 2020:
  • Binarium
    Binarium

    Best Choice!
    Free Trading Education!
    Free Demo Account!
    Big Sign-Up Bonus!

  • Binomo
    Binomo

    Good Choice For Experienced Traders!!!

Like this post? Please share to your friends:
Binary Options Trading Guide
Leave a Reply

;-) :| :x :twisted: :smile: :shock: :sad: :roll: :razz: :oops: :o :mrgreen: :lol: :idea: :grin: :evil: :cry: :cool: :arrow: :???: :?: :!: