Olymp Trade Review 2020: Scam or not?
Olymp Trade is a controversially risky binary options broker. Therefore, many wonder if it is a scam or not? If you’re also interested in Olymp Trade, please take a look at the Olymp Trade review below.
About Olymp Trade
Olymp Trade is an online investment based on binary options trading platform. The way OlympTrade works is based on the price movements of assets (coins, stocks, gold, stocks, and currency). All you have to do is to predict the price will go up or down in a certain period of time. If you make the right choice, you earn money. On the contrary, if you make a wrong choice, you will lose money.
So, is it trustworthy or fraudulent?
In 2016, Olymp Trade was recognized as an official member of the FinaCom organization. Similar to FMRRC, FinaCom's role is to assist clients as a third-party intermediary to resolve complaints or disputes that arise if clients cannot find a common voice with their brokers. surname.
Currently, with the sponsorship of FMRRC and FinaCom and more than 5 years of operation in the trading market Fixed Time Trades without leaving a bad reputation, it can be said that Olymp Trade is a fully trusted broker.
Types of accounts on Olymp Trade
Similar to Binomo, when you sign up for Olymp Trade, there are two types of accounts: Demo account and real account.
- Demo Account: This is the account that after you register, OlympTrade will give you virtual money of $ 10,000 for trial trading, this amount is just for "try" and you can’t withdraw. The purpose of a demo account is to help players experience the way of trading first, then use a real account.
- Real account: Unlike the demo account, the real account will deposit real money into Olymp Trade and can be withdrawn.
In particular, the real account on Olymp Trade is divided into 2 types: normal account and VIP account, with normal account being an account with deposit amount from $10- $2000. The VIP account is an account with an amount greater than $2000.
Interest or payout rate from Olymp Trade
Compared to many other binary exchanges, Olymp Trade payout rate is only average, not too high, up to 80% for normal accounts and 92% for Vip accounts.
However, this payout rate can be changed depending on the time the transaction will have different payout levels, but must reach 80% or more to choose that currency pair or commodity to trade.
Do they offer Olymp Trade promo code?
For the purpose of gratitude to customers, Olymp Trade regularly implements promotions such as promo code Olymp Trade, kode promo olymp trade or attractive bonus programs.
Bonuses cannot be withdrawn. However, you can use this money to trade, make a profit and withdraw this interest to your account.
Interestingly, the bonus doesn’t affect your ability to withdraw real money from your account. Even with a bonus, you can withdraw money from Olymp Trade at any time - without any restrictions. However, you will lose the bonus if you withdraw your deposited cash without trading for profit.
In other words, if you deposit $200 and get a 50% deposit bonus ($50); if you trade and make a profit, you can withdraw everything.
But if you withdraw $ 200 without trading then the $50 bonus will be lost.
Through the above analysis, we can once again confirm that Olymptrade is one of the Fixed Time Trades trading platforms that you should join. So, if you want to enter this field, Olymptrade is the ideal place for you.