Olymp Trade Review 2021 – A Top Brokerage Firm?

BrokerOlymp Trade
Founded in2014
HeadquartersSt. Vincent & the Grenadines
Phone+357 25030996
Support TypesEmail, Chat, Phone
LanguagesFR, EN, ES, DE, PT, IN, CN, AR, PY, TK
Minimum Deposit$10
Demo AccountYes
Deposit MethodsBitcoin, credit card, Skrill, Neteller,
Perfect Money, Web Money, Wire transfer
Mobile AppYes
General Note4.6/5


Olymp Trade is one of the major brokerage companies worldwide and is a household name in the world of trading. The broker claims to have more than 25,000 active users every day, so it’s definitely worth taking a closer look at.

This Forex and CFD broker is regulated by the International Financial Commission (FinaCom), a self-regulatory organization in Hong Kong. Although without any government regulation, Olymp Trade continues to thrive based on the quality of its services. 

It is known for having low trading fees and a wide variety of assets to trade. From Forex pairs to commodities, stocks, indexes, ETFs, and cryptocurrencies, clients of this growing broker will not be disappointed by what’s available. 

Olymp Trade was launched in 2014. Compared to most online financial brokers, this was a late entry into the markets. But that didn’t stop the broker from growing rapidly. 

If you are looking for a regulated and friendly platform, Olymp Trade is amongst the best brokers.

Account Opening

There are mainly 2 account types: Standard account with spreads and ECN account with commissions.

There’s only one way to know how good any particular broker is, and that is by testing the trading environment. To do so, you must create an account with the broker. Fortunately, you won’t need to deposit any cash if you start with a free demo account. Olymp Trade allows new users to create a demo account, but since there are different account types, the procedures differ in each type. 

Accepted Countries

Olymp Trade accepts traders throughout the world except for the following countries: 

  • USA
  • Canada
  • Japan 
  • Israel
  • Australia
  • Russia 
  • and Europe.

Using Olymp Trade Web Trader

You can easily open a demo account at Olymp Trade by visiting the website and clicking on the ‘Registration’ button. All you need at this point is to enter your basic details and you will be redirected to the Olymp Trade web trader. It is also possible to open a demo account through mobile by downloading the Olymp Trade app for iOS or Android. 

When the registration process is complete, you should receive your login details by email. From there, you will be able to switch between desktop, tablet, and mobile without any problem and keep track of your account and initiate orders. 

This demo account is a good way to test most of the broker’s services before opening a live account. From the web trader, you can simply make a deposit and continue trading. Just remember that if you deposit on the Olymp Trade web platform, your live account will be based on the web platform. 

Olymp Trade Using Olymp Trade Web Trader

Metatrader Standard Account

Alternatively, you can choose to open a Metatrader account if you’re already familiar with the platform. Metatrader is one of the most popular online trading platforms globally, and most online brokers offer it to their customers thanks to good user experience.

Metatrader accounts at Olymp Trade can either be standard or ECN. A standard account operates by matching orders between the broker’s clients. For example, if you want to buy 1 lot of the EUR/USD pair, another individual may want to sell the same asset. The broker then matches these orders automatically. 

Such order matching works well for a major broker such as Olymp Trade that has thousands of traders. It is also preferred because execution speeds are very high as the orders are handled by the broker. To make a profit, the company will impose spreads that we will discover in the fee section

Metatrader Swap-Free Account

Swap-free accounts only have one difference from the above accounts, and that is the lack of overnight and weekend swap fees. Normally, a broker has to close and reopen a position before midnight, and this incurs a cost referred to as a swap. 

For Muslim traders, this goes against their religion, and swap-free accounts have been created to cater to their needs. Other than the elimination of swaps, there is no other difference from a standard account. 

Regardless of the account type you choose, the trading experience will not be different on the Metatrader app. It’s simply a question of what you prefer between paying spreads or commissions. It will also be possible to open a demo account on the Metatrader platform if you want to explore the different assets offered by Olymp Trade. 

Metatrader ECN Account

An ECN account differs from a standard account because rather than matching client orders, Olymp Trade gets its quotes from the interbank market. Market prices at this level are the most accurate because they are what major banks use to transact. You will also enjoy the same quotes, but the broker will charge you a commission. 

Some traders prefer an ECN account because they are always assured of the best quotes. In addition, the trading costs are always known. Unlike spreads that vary based on volatility, commissions are always the same throughout.

That is something worth considering when you’re choosing between a standard and an ECN account. Also, remember that the minimum deposit for such an account is $200, whereas a standard account only needs a $10 minimum. 

Deposit and withdrawal

Several deposit and withdrawal options are offered: wire transfer, Bitcoin, credit card, Skrill, Neteller, Perfect Money, Web Money, and many more depending on your country of residence. 

A broker should always make it easy to transfer funds into and out of your trading account. It becomes especially important when you are running low on funds and receive a margin call. But even without such emergencies, the process should be efficient and fast.

Funding Methods

With Olymp Trade, fund transfers are possible through different avenues to accommodate all clients. First, you will find all the standard options, including bank transfer and credit cards. 

Credit card transactions are processed instantly, which is why most people prefer to use that method. However, for larger transactions, you may have to use a bank transfer. In that case, be prepared to wait 2 days before the funds appear on your account. 

Olymp Trade Funding Methods

Second, Olymp Trade also allows clients to deposit and withdraw through digital wallets. You may already be familiar with systems like Skrill, Neteller, WebMoney, FasaPay, GlobePay, Perfect Money, and AstroPay. All these are accepted by the company, and transactions are processed instantly too. These wallets are preferred when you do not want to share personal financial information online. Unfortunately, PayPal is not accepted. 

Users could also find local payment systems on the Olymp Trade website. For example, Vietnamese traders will find the Bao Kim e-wallet listed among deposit and withdrawal methods. Other traders will find different local options depending on the country they live in. And finally, Bitcoin is also accepted by Olymp Trade for traders who want more privacy.

What are the Conditions on Fund Transfers?

The fact that Olymp Trade offers so many funding options is testament to the fact that the broker is open to all types of individuals. That being said, there are still some conditions and limitations you should be aware of. To begin, you must remember that you can only transfer funds to and from the same source. For instance, if you made a deposit through Skrill, you won’t be able to withdraw in Bitcoins. This measure is part of the Anti-Money Laundering (AML) regulations adhered to by Olymp Trade. 

Minimum amount anyone can withdraw is $10. You won’t be able to withdraw any bonus funds. Olymp Trade offers cash bonuses upon deposits, but those bonuses can only be used to trade. 

Trading Platforms

Olymp Trade offers its proprietary web trader. Metatrader 4 and trading apps are also available.

After you have sorted out how to transfer funds, it’s time to prepare your trading environment. Most of your trading activity will be spent on the trading platform, so it is essential to choose the one that’s most favorable to you. Olymp Trade has 4 main trading platforms you need to be aware of. 

Web Trader

It is the most accessible of all trading platforms offered by this broker and is the first you will encounter when you sign up. The web trader is meant to run on the web browser so that you don’t have to download any software to your computer. The advantage of this accessibility is that you will be able to trade on any computer provided it has an internet connection. 

Olymp Trade Web Trader

We gave the web trader a try on a demo account and were glad that there were no glaring problems. The interface itself is very ‘clean’ and easy to use, which is very important if you will be spending several hours every day looking at the screen. 

We were also pleasantly surprised to find that you can change the candlesticks to Heiken Ashi. They are a simplified version of Japanese candlesticks that make it easier to identify market trends. In Metatrader, these can only be found by downloading extra add-ons. Even then, you must still tweak the add-on for it to work properly, which can be a hassle. 

Upon further exploration, there wasn’t any popular technical indicator we couldn’t find. That means you will be able to analyze markets effectively on the web trader with no problem. However, it may be difficult to get to some of the indicators because they are all listed and not grouped. Furthermore, commonly used tools like trend lines and horizontal lines aren’t easy to get to. It might make the transition from Metatrader 4 a bit more difficult, but anyone can learn to use it with time. 

For a new trader interested in long-term investment and casual trading, this should be the best trading platform. It’s simple to use and the interface isn’t cluttered, so it will be effective for placing a few orders and keeping track of the trades from time to time. 

Olymp Trade App

For those who prefer to use desktop apps over web traders, there is a desktop app you can download to either PC or Mac. Its interface will be very similar to that of the web trader, but you will be able to take advantage of your PC’s or Mac’s capabilities. 

If you have a fast computer, browsers may not be able to take full advantage of your computer’s resources. Therefore, you will notice an increase in speeds on the desktop app than the web trader. Active traders and scalpers will prefer the increase in performance because it could mean faster transactions and fewer crashes. 

In addition to the performance difference, the desktop app allows for additional features such as news feeds, advanced charts and trading signals. All these are essential for professional traders who need to perform more in-depth market analyses. 

Olymp Trade App

Trading on the go will still be possible because you can download the Olymp Trade app on either Android or iOS. Both apps have been rated highly, showing that they are well designed and easy to use. We recommend downloading the app even if you already have the desktop app because it may come in handy when you’re away from your computer. 

In general, mobile trading apps do not have the extensive number of features either web traders or desktop apps have. Basic features like trend lines and technical indicators will be available, but a lot will either be missing or inefficient to use on a smaller screen. You should consider mobile app as useful alternatives when you need to keep track of your assets, but not your main trading platform. 

Metatrader 4

This platform is the most popular and has been around for years because of its simplicity and effectiveness. Many people also like it because of the robust community around MT4 that constantly creates trading algorithms, custom technical indicators, trading signals, tutorials, trading tips, etc. It works adequately for both experienced and amateur traders. 

Olymp Trade Metatrader 4

MT4 is also available for download to mobile if you want to keep tracking your trades wherever you are. Similar to the Olymp Trade mobile app, MT4 mobile is also not very good for analyzing markets given the smaller screen. You can still do so, but it won’t be as efficient or easy to navigate. 


Olymtrade’s fees are quite low, starting at 1.1 pips on the EUR/USD.

Trading fees should be a significant consideration whenever you’re looking for an online broker. It is especially important for day traders and scalpers who place tens and even hundreds of orders every day. These fees add up over time and could eat away at your profits if you are not careful. That is why you should choose a broker who does not charge high fees that become a major expense on your account. 

Trading on a standard account

One of Olymp Trades’ biggest selling points is that they have some of the lowest fees compared to the rest of the industry. When operating a standard account, you will be charged based on spreads only. 

During our test, the spread of the EUR/USD pair was around 1.1 pips. This is quite good, although not the lowest in the industry. That being said, it is still very competitive and affordable, even if you’re a day trader. 

Trading on an ECN Account

With an ECN account, you will not be charged any spread, but there is a fixed commission. The commission is $10 per lot, which is also affordable. One lot of currency pairs is about 100,000 units. 

We find this to be very competitive too and reasonable considering the advantages of an ECN account. The exact charges to open a position will be shown on the trading platform before executing the trade so that you are aware of the costs. 

Spread Commission
Standard accountFrom 1,1 pipsN/A
ECN accountN/A$10/lot

Other Operational Charges

Looking at other aspects of the broker, the fees charged are minimal when they aren’t completely done away with. For instance, deposits and withdrawals are free. Most brokers will charge at least for the withdrawals, but Olymp Trade has made all funds transfers free. That being said, the minimum one is allowed to withdraw from their account is $10. 

However, it is important to take note of conversion fees depending on the account currency you’re using. For example, if your local currency is in sterling pounds and your account’s base currency is US dollars, you will experience conversion fees. Remember, Olymp Trade only accommodates the US dollar and euro for account base currencies. 

Aside from the above, there are also swaps and account maintenance fees. Swaps can either be overnight or weekend and are charged by holding a position overnight or over the weekend. Account maintenance is charged only when you have a live account but do not make any trades or fund transfers for 180 days. After 180 days have passed, you will be charged $10 for every subsequent month. 

Markets and products

You will be able to trade Forex and crypto, index, stock, ETF and commodity CFDs.

Markets Financial instruments (examples)
CommoditiesBRENT, Gold, Platinium
StocksAlibaba, Baidu, Apple
IndexesDAX, CAC 40, Nikkei 225
ETFMSCI Brazil 2x, S&P 500 Volatility 1.5x
CryptosEther, Bitcoin, Litecoin

Most retail brokers once offered only Forex trading. It was the most attractive market for retail traders after all and didn’t need a lot of capital. Now, every broker is trying to add as many assets as possible so that clients can have a diverse portfolio. Olymp Trade is no different in this regard, and offers 7 different asset classes:

Digital Options

Using digital is a simpler way of investing because you only need to predict if the markets will go up or down. If your prediction is right, you could earn a payout of up to 80%. For instance, if you wagered $100 that the GBP/USD pair would have a lower value in 30 minutes and this came true, you would earn $80. 

Olymp Trade Digital Options

Digital and binary options have been criticized as gambling, but we believe it’s different and requires skills in market analysis to succeed. Besides, if you were wrong about the value of the GBP/USD dropping, you wouldn’t lose the whole $100 because Olymp Trade will allow you to close the trade earlier and take a smaller hit. 

These options are available for all assets offered by Olymp Trade, providing a simple way to trade financial markets. 

Currency pairs

The FX market is the most active financial market in the world, with $6.6 trillion being transacted daily. Olymp currently offers 35 currency pairs you can trade, ranging from majors to minors and exotics. 

Trading Forex pairs gives you access to the Olymp Trade multipliers (or leverage), which can be up to 500x what you invest. Imagine making an investment of $100 and receiving a 500x multiplier, making your investment worth $50,000. With a bigger investment, you will be able to make a lot more in profits. Please note that the multiplier adds risk to your trading and also worsens your losses.

Stocks, Commodities, and Indexes

There are 37 stocks, 6 commodities (gold, Brent crude, etc.), and 13 indexes (S&P 500, Nasdaq, etc.) offered by Olymp Trade. These should be enough for any trader seeking to diversify their portfolio. Plus, the broker is always adding more assets to this list. 

All these can be traded as CFDs, and thus also enjoy receiving a multiplier.


Investors love ETFs because they are already diversified products. With Olymp, ETFs are a way to invest in different markets through ETFs such as US Real Estate and MSCI Brazil 2x. Think of these as additional ways to diversify and tap into more financial markets. 


Digital assets are very exciting to invest in, because they have a lot of volatility. If you feel confident in your understanding of the crypto markets, Olymp has a range of 7 coins, two-coin pairs, and an altcoin index to invest in. We do urge caution, though, when trading crypto because of the high volatility. 


Traders are entitled to expert analysis, but Olymp Trade does not offer advanced tools.

One must research extensively a specific asset before investing in it. This research can be technical or fundamental analysis. But no matter how good you are, it’s always great to get new ideas from others. At Olymp Trade, the website has a dedicated ‘Insights’ page where the broker’s experts publish their trading ideas.

Olymp Trade Research

For a new trader, this is an easy way to find new ideas on how you can invest. Even professional traders can benefit from gaining new insights and ideas from other experts. Either way, it is a very useful tool provided by the company. 

Customer Service

Support is available 7 days a week. It is quite reactive during the week and less on weekends.

In financial markets, customer service is often overlooked in favor of assets and performance. Nevertheless, there comes a time when you need to ask a company representative to help you out with something. From the web trader page, you will be able to find all methods of reaching customer support as indicated in the image below. 

Olymp Trade Customer Service

As you can see, we were asked to wait for 4 hours to reach an agent by Live Chat. That may not look good, but keep in mind this was on a weekend when most brokers are completely unavailable. 


Olymp Trade offers training for beginners. It is well organized in several chapters.

It has been found that most traders who fail lack knowledge. The financial markets seem tempting and easy to overcome, causing many people to join before understanding the basics. Olymp Trade is trying to avoid this problem by making educational material easily accessible to all its clients, hence the ‘Education’ section on the website. 

Olymp Trade Education

These lessons have been simplified and made into short articles. There is a lot everyone can learn from these lessons. We recommend looking at this section regardless of their level of skill at trading. 


Olymp Trade is not regulated by a top-tier broker, but it is registered with FinaCom. 

A broker can have all the best products and services, but unless you feel safe giving them your money, they won’t be any good for you. To determine whether a particular broker is safe to work with, check if the company is regulated. 

Olymp Trade is regulated by the Financial Commission (FinaCom), an independent financial regulator based in Hong Kong. At the moment, FinaCom has 47 members, including other major brokers like Alpari, ForexClub, FXTM, RoboForex, and more. 

FinaCom oversees all customer complaints from clients of its members whenever there is a problem. If the problem is not resolved, the aggrieved client can be entitled to up to €20,000 in compensation. This protection is theoretically available to all traders from the accepted countries.

Compared to top-tier regulators such as the FCA in the UK, FinaCom does not have the authority to take a brokerage to court. It means that state agencies are more powerful at pursuing scam brokers. On the other hand, members of FinaCom joined the regulator voluntarily, which could mean they will be more willing to respond to the complaints they receive. 

Client reviews of Olymp Trade have been generally positive, though, and you should feel safe making a deposit with this broker. Therefore, it appears that the broker is honest and that FinaCom regulation is sufficient. 

Bottom line

Olymp Trade has become a trustworthy retail broker in just over 5 years. It’s easy to see why, from traders’ reviews of the broker, the company is trusted and has great services. All around, Olymp has a good variety of assets, reasonable fees, enough security, and user-friendly platforms. These qualities make it a good online broker that anyone can use. 


Can I trust Olymp Trade with my money?

Yes. Olymp Trade is a legit broker that is regulated by the Financial Commission under Class A membership that guarantees up to €20,000 in compensation. Furthermore, the company has a good reputation among its clients from all over the world.

Can I make a deposit in Bitcoin?

Yes. Olymp Trade accepts deposits in Bitcoin, credit card, Skrill, Neteller, Perfect Money, Web Money, and many more methods.

Will I be able to trade on my mobile device?

Yes. Olymp Trade offers both Metatrader and Olymp Trade app, and they are all available on iOS and Android.

How much money can I make trading with Olymp Trade?

Your earnings will depend on how well you understand the markets. You can also visit the ‘Education’ page to learn new trading strategies and market analysis techniques.

What is the maximum amount of leverage available?

You can have up to 500x leverage (1:500).

How to trade on Olymp Trade ?

The easiest way to trade is via the web trader. Orders are placed with a few clicks.

What is an Olymp Trade?

Olymp Trade is a broker.

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