Having launched in 2014, Olymp Trade is younger one of the most popular brokers available on the market, however, that also means it’s more modern. They’re a reliable company you can trust, working under the umbrella of reputable companies like Frandom Holding, Ltd. and Smartex International, Ltd, who are both regulated by the FMRRC. As a subsidiary of these larger companies, Olymp Trade specializes in smaller trades, rather than the bigger ticket trades. Starting in Russia, their forte is as brokers in the Russian market, but they are licensed to accommodate global traders with international trades.
We’ll give you the rundown of these brokers so you can see if they’re worth your time to research further.
How they’re different.
For starters, Olymp Trade doesn’t work with traders in the United States. We wanted to say that first so that we were sure we didn’t waste any of your time; if you’re a US trader, stop reading now. As far as assets are concerned, Olymp Trade doesn’t offer as a wide of a range as most brokers; they only work with currency pairs, gold, and silver. This limited selection has a tendency to deter big spenders from this broker, but it’s targeted more towards the beginner trader, anyway. They offer a more simplified system, low entry deposit, and low minimum, making them a perfect, low risk options for those just getting started with trading and needing to get some practice before they invest big money into it. Most brokers offer a wider selection to bring in more traders and bigger spenders, but that’s not Olymp Trade’s target clientele. By offering lower prices, they make their money in the beginners getting their practice in, rather than a few high rollers.
Some specifics.
They only have two account options from which you can choose: demo account and standard account. The demo account allows you to get a feel for trading and grow accustomed to it before risking hefty amounts of money. The standard account allows you to make as low of a deposit as ten dollars, allowing you to gain access to a ten-thousand-dollar demo account. They don’t offer the most profitable payout, but it’s a great way to get your feet wet in the trading market. They don’t offer any start up bonuses as they don’t really need to with their low deposits and low minimum trading amount (as low as a dollar). Occasionally, they’ll offer promotional bonuses, but it’s infrequent.
Because they are a younger company, having just launched in 2014, their mobile capability is certain something for which other brokers should be envious. Their platform runs smoothly, is very responsive, and comes in applications for both Android and Apple devices. This certainly makes it easier to monitor your trades wherever you are. This company offers a low risk, but also a low reward. Despite this, Olymp Trade provides an excellent and simple medium for new traders to practice and truly hone their skills before they risk more money in the bigger markets.
In conclusion.
Olymp Trade is a great broker with which to go that sets its sights on those just beginning their trading career. They don’t work with traders in the United States, but do trade internationally with a specialty in the Russian market. They offer a low deposit, low minimum trading amount, and low risk, making them perfect for beginners to get their feet wet and grow accustomed to the trading game without risking large amounts of money. You probably won’t make a tremendous profit with this broker, but it’s an excellent way to get started without taking too great of a risk. They offer terrific customer service, seamless and user friendly mobile accessibility, and easy to understand systems. Though this broker might not be the right fit for the bigger spenders in the trading market, it’s perfect for beginners.
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