Olymp Trade Account Types Reviewed ☑️ (Updated 2024) (2024)

Olymp Tradedoes not offer conventional trading accounts like other brokers. Instead, Olymp Trade offers traders account statuses, each featuring its own specifications and benefits. These statuses are as follows: Starter Account, Advanced Account, and the Expert Account

Olymp Trade at a glance

Olymp Trade Account Types Revealed – A Key 8-Point Quick Overview

1. ✔Olymp Trade Overview

2. ✔Olymp Trade Account Types

3. ✔Olymp Trade Account Features

4. Olymp Trade Demo Account

5. Olymp Trade Islamic Account

6. Olymp Trade Pros and Cons

7. Conclusion

8. Frequently Asked Questions

Finding a reputable list about Olymp Tradeaccount types local or worldwide can be a difficult process, especially finding a complete list from a trustworthy reputable source.

Below is an in-depth account types Review regarding this regulated Forex company, which will assist traders to make an informed decision when it comes to the various Forex trading accounts made available.

Olymp Trade Overview

Olymp Trade is an STP broker which is based in St. Vincent and the Grenadines which has been in operation since 2014. Olymp Trade is both owned and managed by Industries Limited which is registered in St. Vincent and the Grenadines.

Olymp Trade offers traders a variety of financial instruments which can be traded through a proprietary trading platform at competitive pricing. Olymp Trade offers a different approach to trading in the form of fixed-time trades. These are contracts that have both fixed risks as well as rewards, based on a ‘yes’ or ‘no’ proposition.

Traders can decide whether the underlying asset will rise or drop during a set period of time. The difference between conventional trading and that of fixed-time trading is that fixed time, as the name suggests, must be done according to specific timelines. Conventional trading offers traders a lot more variability but also a lot more risks.

Due to this, the pricing, account options, and trading conditions offered by Olymp Trade cannot be compared to that of other brokers. Olymp Trade’s offering is unique and while not a lot of traders may be aware of this type of trading, Olymp Trade is quite popular and has around 240,000 traders who make use of its services.

Olymp Trade has also obtained more than 8 awards such as the ‘Best Trading Platform’ award, ‘Best Options Broker’, and numerous others.

Olymp Trade Account Types

Instead of offering conventional account types, Olymp Trade offers a new approach that is dynamic and caters to a variety of traders. There are three accounts, or account statuses, offered. Each with its own specifications and benefits. The higher the account, or status, the more advantages traders will have.

Olymp Trade Account Features

Starter Account

📍 When making use of this account, traders can expect some of the following features:

➡️ A minimum deposit from $10 up to $2,000.

➡️ A rate of return up to 82% and more.

➡️ Maximum trade up to $2,000.

➡️ Maximum of between 10 and 100 open positions.

➡️ Access to 10 indicators.

➡️ Access to one sound package.

➡️ Access to individual training.

➡️ Access to trading signals.

➡️ Standard fund withdrawals take up to 2 working days.

Advanced Account

📍 When making use of this account, traders can expect some of the following features:

➡️ A minimum deposit of $500.

➡️ A rate of return up to 85% and more.

➡️ Maximum trade up to $3,000.

➡️ Maximum of between 20 and 100 open positions.

➡️ Commissions up to 13.5%.

➡️ Accelerated withdrawals completed within one business day.

➡️ Trailing stop-loss.

➡️ Access to basic trading signals.

➡️ Access to one Expert Advisor.

➡️ Access to basic education.

➡️ Access to between 6 and 7 unique strategies.

➡️ One consultation a month with a personal analyst.

➡️ Access to 11 indicators as well as special materials.

➡️ One specialized webinar a week.

➡️ Access to two sound packages.

Expert Account

📍 When making use of this account, traders can expect some of the following features:

➡️ A minimum deposit of $2,000.

➡️ A rate of return up to 92% and more.

➡️ Commissions up to 20%.

➡️ Rapid withdrawals within an hour.

➡️ Risk-free trades up to 5% of the deposit, only on the first deposit.

➡️ Maximum trade up to $5,000.

➡️ Maximum of between 30 and 100 open positions.

➡️ Trailing stop-loss.

➡️ Access to basic trading signals.

➡️ Access to three Expert Advisors.

➡️ Access to basic and private education.

➡️ Access to between 12 and 15 unique strategies.

➡️ Four consultations a month with a personal analyst.

➡️ Access to 14 indicators as well as special materials.

➡️ three specialized webinars a week.

➡️ Access to three sound packages.

➡️ Access to special materials and exclusive trading ideas.

Olymp Trade Demo Account

📍 Olymp Trade offers traders the option of opening a Demo Account which can be utilized in various ways, including, but not limited to the following:

➡️ A practice account for beginner traders who wish to improve their trading skills and experience in a risk-free environment using virtual funds.

➡️ Traders who are evaluating and comparing brokers who would like to explore Olymp Trade’ trading conditions in a risk-free environment, and

➡️ Traders who wish to test their trading strategies in a mimicked live trading environment without risking their capital.

Seeing that Olymp Trade offers a different trading approach and way in which to trade, traders who are new to this style are strongly urged to make use of a demo account.

This allows traders to learn how it works and learn how the platform operates. Traders are provided with $10,000 in virtual funds and when traders are ready, they can switch to a live account at the click of a mouse. The demo account also provides unlimited access, and traders can even deposit actual funds into the demo account.

Olymp Trade Islamic Account

The purpose of an Islamic Account is that it caters specifically to Muslim traders who strictly follow Sharia law. The law prevents its followers from paying any type of interest, such as overnight fees, which is seen as wasteful or exploitive.

Overnight fees are charged should traders hold positions open for longer after the trading day has concluded and this type of account allows exemption from such fees or interest, should they hold positions open for longer.

Due to its unique offering, Olymp Trade does not offer Muslim traders the opportunity of converting a live account into an Islamic Account. The reason for this is that all accounts offered are already Sharia compliant and therefore trading is halal.

Olymp Trade Pros and Cons

Conclusion

Overall, Olymp Trade can be described as a broker which offers attractive trading conditions, and a generous amount of educational material. In addition, Olymp Trade offers tightspreadshelp to attract new clients although the broker would benefit from obtaining better regulation.

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Frequently Asked Questions

What is the difference between a demo and a live trading account?

A demo account offers the use of virtual funds instead of actual capital. This allows for risk-free trading as well as exploring both the broker’s offer and the trading platform. A demo account can be used for a variety of reasons including practice trading, testing trading strategies, exploring platforms and offers, and more.

For how long is the demo account valid?

The demo account is available indefinitely.

Does Olymp Trade offer the option of an Islamic Account?

No. Olymp Trade does not offer the option for an Islamic Account as all account types are already compliant with Sharia.

Which live trading accounts does Olymp Trade offer?

• Starter Account
• Advanced Account
• Expert Account

What are the available deposit currencies for a live trading account?

• USD