Olympia Markets is one of the recently established forex brokers, and it offers an online trading platform. The trading software is simple and easy to use, making it preferable to those who have trouble using other trading platforms. Olympia Markets have been in the online trading industry for a short period, but it has already established a recognizable brand that is popular among global online traders and investors. By offering exceptional trading services and practically the ultimate trading experience on the market, this leading broker has managed to achieve such recognition.
A lot has been said about Olympia Markets since it was established. Both positive and negative reviews have been given as the broker popularity increases. After hearing so much about the broker, we decided to test how Olympia Markets work with real money. After assessing the most fundamental areas that any trader who looks at before investing, we compiled a report.
Olympia Markets Broker Review- know the facts, trade with confidence
To provide evidence-based information about Olympia Markets that would assure users their funds are safe, we opened a live account so that we could have the first-hand experience of the brokers’ services and features. From the information gathered, Olympia Markets is one of the online brokers that allow users to start trading with a low deposit as users can start trading with 250 USD. The broker also has the best selection of trading instruments, making it unique among the other forex brokers. Despite being in the industry for a short time, the brokers have more unique advantages than other brokers, which makes it popular in the global online trading industry.
|Nice selection of trading instrumentsHigh leverage of up to 1:500Minimum operating capital of 250 USDFunds and information confidentiality and securityFast trading which ensures that no trade opportunities are lostWide variety of assetsInnovative account types tailored to the selection of functions and servicesFree demo to beginnersComprehensive educational resourcesExcellence customer services with immediate feedbackAutomated trading available copy trading||Meta Trader site not supportedHigher minimum deposit with bank wireHigh spreadsNo US traders accepted|
- What makes Olympia Markets Unique?
Being a focused trader broker, Olympia Markets is designed in a way that gives new and experienced traders an equal chance to succeed in the industry. One of Olympia Market’s most unique aspects is its focus on training beginner traders. To service all levels of traders, the brokers have various suitable accounts that the traders can choose from. Olympia Markets have robust learning resources and materials that users can easily access and use them to learn about the changing trends in the market. It is also the first retail broker to have a cloud-based trading platform that ensures that all your market orders are executed in real-time. Olympia Markets offers free trial accounts in addition to training materials. This way, when you get over the learning curve, you don’t risk losing any of your real money.
The platform of Olympia Markets is very simple, telling you just what you need to be useful in monitoring your trades. On the main page, they present a clear, easy-to-understand market map. You can see the time and the amounts next to the plan, making it easy to grasp instantly. By selecting the type of graph and color, you can also customize the charts. At the bottom of the page, with a help chat, there is information about open and closed trades. In a simple and clear presentation, the design makes it easy for users to see just what they need. A personal manager is assigned to each trader at his / her beck and call 24 hours a day. Olympia Markets is not unique, but a special broker for the modern broker with a streamlined payment processing system as well as a strict commitment to customer funds security.
- Olympia markets Experience Test
To determine if Olympia Markets is a worthy brokerage partner, a number of tests were carried out. The first test was to determine how supportive the broker was too new traders. The test involved submitting details and waiting for a response. With an hour, the platform has offered a response by making a call. Customer services are handled by professionals who can handle all the questions asked and not a robot or automated program. The second test was to determine the effectiveness of the withdrawal process. Even without making any trade, you can withdraw your money as long as you had deposited the minimum amount required. The withdrawal request takes a maximum of 24 hours to be processed, and after 5 business days, the money reflects into the users’ recommended account. The last test was order execution via its platform that is claimed to use a cloud-based trading platform. All the orders places were executed instantly with no requotes or slippages.
Having passed the primary tests, Olympia Markets has qualified as a leading brokerage partner.
- Is Olympia Markets Scam or Legit?
Olympia Markets is a legit broker that offers fair and transparent trading services to online traders and investors. Transparency is one of the principal Olympia Markets’ values, and the brokers inform the users of the possible threats one is likely to face while doing online assets trading. All the risks involved in online trading are discussed on the main page. The broker has also made two transparency features to users. These features include Know your Customer (KYC) and anti-money laundering (AML), which shows users the efforts it is putting to adhere to global financial regulations and protocols. This level of transparency is what characters Olympia Markets as a legit broker.
The most common scams associated with online assets trading are manipulation of trading platforms and identity theft. Olympia Markets uses a cloud-based trading platform, so traders should not be worrying and trading platform manipulation. To prevent identity theft, personal information is not distributed or sold by Olympia Markets to any organization that may use it commercially or otherwise. Any personal customer information remains secure at all times and is never compromised.
- Olympia Markets Regulations and Safety of Funds
Olympia Market is registered in Estonia, one of the European Union countries that have strict regulations on online financial assets trading. It is a brand of Yield Enterprise Currency Software, and it operates under Markets in Financial Instruments Directive, whose main objective is to increase transparency across EU’s financial markets as well use promote traders and investor’s protection.
The safety of funds is one of the fundamental areas that Olympia Markets focuses on. It uses advanced security technology to make sure all transactions done of the platform are safe and secure. The broker uses a cloud-based powerful trading platform no only to ensure quick execution of orders but to protect traders from being manipulated. With the use of a Cloud-based trading platform, it is almost impossible for hackers to hack the system and start manipulating traders. The platform also has a variety of trading opportunities that traders can choose from.
- Account types
Olympia Markets have three types of accounts, and clients are free to choose the account they want to trade with. The accounts are not differentiated by the amount of deposit required, but they are distinguished by design. All three accounts are designs different to meet the needs of diverse traders.
The three accounts include:
This is an account for traders and investors who want to trade personally and get a chance to have first-hand experience in the world of online trading of financial assets. With this account, you get full control of your trades as you can manually open, handle, and close trades as you like. This account is recommended for experienced traders who want to apply their manual strategies in the market. Since the platform offers training and charts to guide beginners, new traders who like trading manually can also choose this account.
- Robot Trader
This is an account suitable for all traders. It operates as an automated system that gives traders a chance to use advanced predictive technology. To those traders that wish to apply automated strategies in the market, this is the preferable account for them. Experienced traders who have coded their trading strategies or new traders who have purchased automated working strategies will find this type of account most convenient and practical for them.
- Copy Traders
This is more of a social trading account that allows traders to copy the trades if the best performing traders on the Olympia Markets trading platform. After signing up on this account, you will not have to worry about not having any experience in online trading because you need to choose the traders you want to copy from, and their trades immediately reflect in your account. This account is suitable for new traders who which to save time and learn while earning money.
- Olympia Markets Trading Conditions
Below are the trading conditions for Olympia Markets:
- All times in GMT+2.
- Trading exchanges apply at 2400hrs GMT+2.
- Normal leverage is 1:100. But you can trade up to a higher leverage level of 1:500.
- Fast execution is exchanged on fixed spread instruments, which promotes a price guarantee. If price changes, there may be re-quotations.
- Market execution is traded on floating spreading instruments. This ensures that no re-quotes will be filled at the new price, even with price changes.
- Stop Out level is 0%, no negative balance.
- Throughout periods of low or high volatility, exotic currency pairs can be restricted.
- If your trading account is restricted, all open trades will be closed until all verifications have been completed.
For more details concerning the Olympia Markets terms and conditions, there is an additional section for frequently asked questions and their answers.
- Fees and Spreads
Olympia Markets offers traders the benefits of low trading fees. The broker’s main competitive advantage is the price. It keeps the trading costs low to boost profitability. There is a fixed spread of 3 pips on major currency pairs like the EURUSD pair, while there is a fixed spread of 6 pips on cross pairs like the CADJPY. For foreign currency pairs like USDZAR; commodities like gold; indexes like the FTSE 100; and shares like Facebook; a floating spread applied by Olympia Markets. This ensures that spreads are lower during high market liquidity periods and higher during low volatility periods.
- Account opening experience
As long as you are of legal age, which is 18 years and above, opening an account with Olympia Markets is simple, faster, and direct. To open an account, you visit the Olympia Markets website and on the main page and click the button on the right top written ‘Sign Up.’ To register, you will be required to key in personal details like your name and email. You will also be prompted to write your preferred password. After submitting your details, you will receive an automated email from Olympia Markets requesting you to confirm your email address.
After confirming your email, you will be able to access your account on Olympia Markets trading platform. To start trading, you will have to deposit money into your trading account.
Olympia Markets allows traders to open as many as 10 different accounts.
- Deposits and Withdrawals
Olympia Markets utilizes a streamlined payment system that makes sure traders can deposit and withdraw their funds from the trading account effortlessly, securely, and conveniently.
Deposit is free of charge, with a minimum deposit of 250 USD. It makes it easy for everyone to access the site and a good starting point for beginners. The deposit of funds is relatively quick, but wire transfers take longer than other methods. Here are the steps for depositing into your trading account.
- Log into your Olympia Markets account
- Click the ‘Deposit’ button
- Choose the payment method you will use
- Click ‘Confirm Deposit,’ and you are fine to go.
Olympia Markets’ preferred methods of payment include:
- Credit and Debit Cards
Olympia Markets allow traders to deposit into their trading account using major cards like Maestro, MasterCard, and Visa from well know financial organizations. This is a convenient mode of payment because cards are popular among the traders, and it takes a short time for the deposit to reflect in your account. With this method, the minimum deposit is 250 USD. The maximum amount of deposit using cards is 30000 USD per month for security purposes. Traders can also deposit funds into their trading accounts using multiple cards.
- Bank Wire
Olympia Markets also supports Bank Wire transfer in regions where cards are not an option or inconvenient. By choosing this as your preferred payment method from your trading zone, you can find the payment details. The minimum deposit balance when using Bank Wire is 500 USD, and your trading account may take a little longer before the funds reflect.
The maximum amount to withdraw depends on the funds you have in your trading account because there is no negative balance. The minimum withdrawal amount is 250 USD. Withdrawal request takes up to 24 hours to be approved. And it takes around 5 business days for the amount to reflect in your account. You process withdrawals using the same method with which you made your deposit. You will need to verify your trading account to ensure smooth and trouble-free deposits and withdrawals. Here are steps to withdraw money from your trading account.
- Log into your Olympia Markets trading account
- Click the ‘Withdraw’ button, fill in the requirement and submit your request
- Wait for approval, and you will receive your money later.
- Account Verification
Olympia Market strictly adheres to KYC and anti-money laundering guidelines. All the clients are required to complete a verification process before they can start trading with their accounts. This is for security purposes, and to make sure the account opened with your details was opened by you. To verify your Olympia Markets trading account, you will require:
- Proof of identity
To prove your identity, Olympia Markets only accepts valid government-issued documents like:
- Identity Card
- Driver’s License
A colored copy either scanned or a photo is required. The copy should be clear and legible. It should indicate fine details like your full name, date of birth, photo, and signature, as well as expiry date if applicable.
- Proof of address
To proof your address, Olympia Markets only accepts documents such as:
- Bank or Credit Card statement
- Utility Bill (water, electricity)
- Tax statements or Local Authority tax bill
The documents should not be older than 3 months and should clearly indicate the issuer, your name and address, as well as the issue date.
- Proof of Card Ownership
This applies to credit card users. Olympia Markets requires a colored copy of both sides of the card. The copy should clearly show:
- Cardholder name
- Expiry date
- Front side- 4 digits
- Backside- signature
All other details not mentioned above should be covered up for your safety.
- Declaration of Deposit
Download the form on the Olympic Markets website of the KYC page, fill it out, sign it, and then print it out. The Declaration of Deposit should show:
- Date and time of Deposit
- Amount and currency deposited
Olympia Markets is very user-friendly and easy to navigate. The platform looks clean and organized, with connections that make finding what you’re looking for easy. Olympia Markets’ trading platform is a cloud-based trading platform which is designed to ensure traders succeed in their trading activities. This type of trading platform also promotes security. The platform does not require any download as it is web-based. The website of Olympia Markets enables investors to reach more than 400 tradable financial assets ranging from currency pairs, stocks, and indices to commodities and crypto-currencies.
The website is packed with features and is highly customizable. Traders can highlight their favorite resources, which can easily be accessed on the platform by simply clicking on the ‘favorites’ button. Olympia Markets platform has interactive charts that can be shown in the form of rows, bars, or candlesticks. There are various indicators and tools for trading to support your trade further.
- Education and Resources
To make sure traders succeed in their trade, Olympia Markets offers training to new and old traders. On the main page of the platform, there is a detailed guide that shows traders how to utilize the available features for their benefit fully. In addition to trading education, there are free demonstrating for beginners using virtual coins. This helps new traders to learn how to trade without worrying about losing money. Additionally, there are various eBooks and video tutorials explaining different strategies that can be used when trading different assets or market conditions.
Traders in Olympia Markets also have access to useful trading tools that can improve their business. There’s a volatility chart that lists the day’s best movers on the market. The Dividend Calendar is also available, which is a very useful tool for traders of stock CFDs. It helps traders track the stock they need to look out for. The Financial Calendar is available to help traders track all major economic news and events as well as the assets that are likely to impact them.
- Customer Service
Customer support via email, phone, and live chat is available 24/7. Olympia Markets prioritizes traders; that is why all calls are made and received by professionals and not automated or robot systems. All traders are treated the same regardless of the trading accounts one is using. The customer support is very responsive, and they try their best to resolve any issues as soon as they are reported.
- Frequently Asked Questions (FAQs)
Q: What is Olympia Markets?
A: Olympia Markets is an online Forex and crypto broker. Investors and traders have access to the exciting world of online trading of financial assets
Q: Where is Olympia Markets Based?
A: Olympia Markets is registered and headquartered in Estonia, one of the European Union countries.
Q: Who owns Olympia Markets?
A: Olympia Markets is a brand of Yield Enterprise Currency Software OU firm.
Q: Is Olympia Markets regulated?
A: Olympia Markets is a brand of Yield Enterprise Currency Software OÜ, a firm duly registered and headquartered in Estonia. Estonia is part of the European Union, which means that all financial services companies incorporated in the country operates according to EU’s MiFID II directive. This means that Olympia Markets duly operates as a regulated brokerage firm in Europe.
Q: Is Olympia Markets legit?
A: Olympia Markets is a legit broker that offers fair and transparent trading services to online traders and investors. Features such as know you customer (KYC) and anti-money laundering (AML) are used to show users the efforts it is putting to adhere to global financial regulations and protocols.
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