The main advantage of binary options over the currency and stock market is the absence of spread (the difference between the price of buying and selling an asset). This allows you to make a profit even if the closing price is only 1 point above/below the opening price of the option. But if binary trading platform is slow or with incorrect quotes there will be some losses. To avoid this, we work only with popular companies such as Olimp Trade.
About Company and Licensing
The company has been providing access to options trading since 2014. Financial results from the official website: 250 thousand active accounts, average monthly turnover of 170.2 million dollars. The broker regularly ranks in the top 10 binary broker ratings.
Of the declared regulatory documents, only permission from the Financial Licensing and Supervision Authority (FSA) of the offshore zone of Saint Vincent and the Grenadines, where the company is registered and is a member of The International Financial Commission (IFT), a non-profit organization for the resolution of disputes between traders and brokers.
The IFT certificate provides for compensation of losses to the trader and protection of his interests in disputes with the broker. In reality, the reimbursement procedure is very complicated and it was not possible to find positive results on the Internet.
Accounts and trading assets
The broker offers three types of trading account:
- DEMO. Start trading binary option for newbie’s when the trade is virtual money. Thus, you can gain experience using basic technical tools and testing strategies;
- REAL. Already real money trading USD / EUR / RUB. The minimum deposit amount is $ 10, an option is $ 1 and the expiration time is from 1 minute. The maximum profit, depending on the trading asset, reaches 85-90%, with the release of fundamental news and strong volatility, income may drop to 70-75%. No limit to the number of simultaneously open options!
• VIP. Opens with a single deposit in the amount of $2000:
- faster withdrawal from deposit;
- personal manager closed webinars and consultations;
- setting a minimum deposit balance, upon reaching which new transactions are not opened (risk-free trading);
- access to proven binary options strategy and signals;
- exclusive promotions and bonuses.
The choice of trading instruments is standard: currency pairs, cryptocurrencies, stock indexes and stocks, commodity futures. No OTG quotes. On which currency pairs from other brokers are traded on Saturday / Sunday. Since OTG has nothing to do with the real market, customers are protected from unforeseen losses, which is useful for newbies.
The trader can open and control transactions on any device using the best options trading platform. Olimp Trade offers versions for stationary (computer or laptop) and mobile (smartphone, tablet) devices.
For trading on exact binary options strategy, there is a complete set of technical analysis tools: trend indicators, oscillators and graphical constructions (lines, rays, Fibonacci levels, etc.). The tool configuration is retained when the terminal is closed.
For VIP accounts, in addition to free binary signals, there are two more interesting functions:
- use leverage or multiplier. You can open a transaction larger than your current deposit. The multiplier is absent from most of its competitors, but in addition to greater profits come faster and loss!
- risk management system or money management: levels of maximum profit (Take Profit) and loss (Stop Loss), opening options when a specified price level is reached (deferred transactions).
Copying transactions only in manual mode, which requires a constant location near the terminal, the correct calculation number of simultaneously opened transactions, the maximum load of deposit and the amount of the option!
Analytics, training, deposit
From the analytical materials, the economic calendar and binary options signals of the popular external economic portal (we do not indicate the name, as this will be an advertisement) and a schedule the volatility of trading instruments. There are no market reviews and expert reviews.
Unlike analytics, the “Training” section contains useful information: webinars, reviews of basic technical indicators, and examples of strategies that can be used even by newbies.
Two types of affiliate programs:
- payment for new customers. A complete set of marketing materials is provided for posting on sites, forums, groups on social networks. The partner receives up to 50% of the referrals trade and the percentage of each deposit replenishment;
- introducing broker. A partner can work as an affiliate of Olymp Trade in his region. Or under your own brand on the broker’s trading platform.
All the main ways to enter/withdraw funds into a trading account are supported: plastic cards or electronic payment systems.
Replenishment takes place in 20-30 minutes with a minimum of personal data, but verification (confirmation) is necessary to withdraw large amounts to plastic cards. Usually, the process takes 5-7 days if all the documents are available, but the support service may request additional information. It is recommended to begin verification immediately after opening an account!
Promotions and contests are regularly held, a victory in which brings bonus funds to the deposit and you can start full-fledged trading without any investments.
Summarize. We can say that there are no factors that could negatively affect the evaluation of the company Olimp Trade, regardless of whether manual trading or binary options signals are used. Reviews do not always reflect the real situation, because negative, as you know, spreads faster and with a greater desire than positive information. In most cases, the trader is the cause of the loss, but since no one likes to admit their own mistakes, everything ends with “bad managers”.
Therefore, reading any information and deciding where to open a trading deposit always focus only on your own opinion; this feature will be very useful in the future.