The services on the Website are provided by Aollikus Limited, a company registered in the Republic of Vanuatu. The domain was established in 2014, but the owners have not disclosed a launch date. The website claims that Olymp Trade is a licensed financial dealer. This fact is confirmed by a license issued by the Vanuatu Financial Services Commission (VFSC), which is a non-profit government agency. However, the license from an offshore body is more of an advertising document, as the regulator has no influence on the broker and does not protect its clients.
We will try to find out during the review whether the information about the company’s activities is reliable – whether we should trust funds to this broker or if it is a fraud.
Olymp Trade is focused on providing binary options to its clients. A client can test the platform after registering on the website, only then a demo account will be available to them. The balance will be credited with 10,000 virtual dollars.
The trading algorithm consists of the following steps:
- Choose one of more than 75 assets – currency pairs, cryptocurrencies, shares, commodities, indices
- Decide how much to invest, not less than $1. The broker promises that on a successful fixed-time trade, your profit will be 92%
- Set your trade to be executed between 1 minute and 3 hours
- Analyze whether the price of the asset will move up or down and then tap the appropriate button
- Wait for your trade to expire
The trading platform used is the in-house Olymp Trade terminal and the popular MetaTrader 4 platform. On the broker’s official website, you can download any version of these programs for Windows, Mac, iOS, or Android. In addition, the web version of each terminal is available to traders.
In the service agreement, the company explicitly warns of the high risk of losing all the funds invested. At the same time, a client’s profit is guaranteed, but it is not known from which sources of income.
The referral program of Olymp Trade promises the participant to earn 50-60% of the profit of the invited trader. Also, the broker gives clients bonuses of 20-100% and promo codes 10%, 30%, and 50%. More than 50 lessons in video format are available in the “Training” section. The training material is also available in text form.
The maximum withdrawal time is up to 5 working days. The minimum withdrawal amount is $10. Technical support service works 24 hours a day. You can contact a specialist via online chat, email, or call the hotline.