If you're an aspiring trader or an experienced one looking to try out a new platform, you may have heard of Olymp Trade. Olymp Trade is an online trading platform that offers a range of financial instruments for trading, including currency pairs, commodities, stocks, and cryptocurrencies. In this article, we'll be taking a closer look at Olymp Trade India and everything it has to offer.
Background and History
Olymp Trade was founded in 2014 and has since grown to become one of the leading online trading platforms in the world. The platform is owned and operated by Inlustris Ltd., which is registered in St. Vincent and the Grenadines. Olymp Trade has offices in Cyprus and Russia, and its platform is available in over 130 countries, including India.
Olymp Trade offers two main account types: the demo account and the live account. The demo account is a great way to get started with the platform, as it allows you to trade with virtual money without risking any of your own funds. The demo account is also a useful tool for experienced traders who want to test out new strategies or trading instruments.
The live account, on the other hand, is where you can trade with real money. Olymp Trade offers three types of live accounts: Standard, VIP, and Fixed Time. The Standard account is the most popular and offers a range of features, including access to all trading instruments and the ability to withdraw funds within 24 hours. The VIP account is for more experienced traders and offers additional features such as a personal account manager and higher payouts. The Fixed Time account is designed for traders who prefer to trade fixed time options.
Olymp Trade offers a range of trading instruments, including currency pairs, commodities, stocks, and cryptocurrencies. The platform offers over 70 different assets to trade, and each asset has its own set of trading conditions, such as minimum investment amounts and expiry times.
One of the standout features of Olymp Trade is its fixed time trading options. Fixed time trading allows you to set a specific time frame for your trade, which can range from as little as one minute to as long as 23 hours and 59 minutes. This feature is great for traders who prefer short-term trading and want to know exactly how long their trade will last.
The Olymp Trade platform is user-friendly and easy to navigate. The platform is available on desktop and mobile devices, making it accessible to traders on-the-go. The platform features a range of tools and indicators to help you make informed trading decisions, including candlestick charts, trend lines, and moving averages.
One of the standout features of the Olymp Trade platform is its built-in education center. The education center offers a range of resources for traders of all experience levels, including video tutorials, webinars, and trading strategies. The education center is a great resource for new traders who want to learn more about trading and for experienced traders who want to refine their skills.
Deposits and Withdrawals
Olymp Trade offers a range of deposit and withdrawal options, including credit/debit cards, e-wallets, and bank transfers. The minimum deposit amount is $10, and the minimum withdrawal amount is $10. Olymp Trade processes withdrawals within 24 hours, which is faster than many other trading platforms.
Olymp Trade offers customer support via email, phone, and live chat. The customer support team is available 24/7 and is responsive and helpful. The platform also features a comprehensive FAQ section, which answers many common questions and issues.
Regulation and Security
Olymp Trade is not regulated by any financial regulatory authority in India. However, the platform is regulated by the International Financial Commission (IFC). The IFC is an independent organization that provides a range of financial services, including dispute resolution services for its members. Olymp Trade is a Category A member of the IFC, which is the highest level of membership available.
In terms of security, Olymp Trade uses SSL encryption to protect user data and transactions. The platform also offers two-factor authentication and a range of other security features to protect user accounts.
Pros and Cons of Olymp Trade India
Like any trading platform, Olymp Trade India has its pros and cons. Here are some of the most notable:
- User-friendly platform with a range of trading tools and indicators
- Comprehensive education center for traders of all experience levels
- Fast withdrawals within 24 hours
- Range of deposit and withdrawal options
- Access to over 70 different trading instruments, including fixed time options
- Not regulated by any financial regulatory authority in India
- Limited range of live account options compared to some other platforms
- No MetaTrader 4 support, which may be a drawback for some traders
Overall, Olymp Trade India is a reliable and user-friendly trading platform that offers a range of trading instruments and educational resources for traders of all experience levels. While the platform is not regulated in India, it is regulated by the International Financial Commission, which provides a level of assurance for traders. The platform's fast withdrawals and range of deposit and withdrawal options make it a convenient option for traders, and its fixed time trading feature is a standout offering. While there are some drawbacks, such as the limited range of live account options and the lack of MetaTrader 4 support, Olymp Trade India is still a solid choice for traders looking for a reliable online trading platform.