Olymp Trade is an A-recognized member of the International Financial Commission which enables the platform to cover unfair trade practices up to $20,000. The minimum amount deposit required to start trading on the platform is $10 which makes it easier for small-time traders to try their luck. Olymp Trade app also provides easy access to learning material which enables new traders to get acquainted with the system easily.
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The company has been a Category A member of the Financial Commission since February 2016, which guarantees traders reliable service and the protection of their rights. According to a 4 February Mint report, RBI had noticed that these platforms offered a derivative product called contracts for differences (CFD) during the lockdown period. CFD is an arrangement made in financial derivatives trading where the differences in the settlement between the open and closing trade prices are cash-settled. Apart from educational tools, Olymp Trade comes with a plethora of features. The platform guides and encourages new users through recommendations. Surprisingly, Olymp Trade offers attractive deals and bonuses for its clients from time to time.
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If you’re opting for a bank transfer, you may have to wait for a few hours or an entire day. It’ll be best for new traders to skip this point if you haven’t yet grasped the vital information related to leverage. You’ll have to pay off a significant fee if you want to trade overnight. Apart from this, the platform also charges a subscription fee and inactivity fee. It is also crucial to point out that the value of spreads can rise or fall as the market conditions go up and down. However, you can also assume it a small trading tool that you’ll be carrying for all time in your pocket.
- Olymp Trade is committed to providing transparent, reliable service, and paying close attention to client requests.
- To stay connected to the market, download an app for your iOS or Android smartphone.
- The company has been a Category A member of the Financial Commission since February 2016, which guarantees traders reliable service and the protection of their rights.
- Here, you can confidently invest your hard-earned money and secure a highly profitable position.
- If you’re opting for a bank transfer, you may have to wait for a few hours or an entire day.
- Every option is well-organized that delivers easiness in the trading activities.
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- All concepts, strategies, and tools are explained in simple language to ensure even the newest traders can learn everything necessary and become successful.
- In terms of deals and promotions, users can get a 50% bonus on their initial deposit.
- According to various sources, Olymp Trade is not technically illegal in India but it is in no way monitored or controlled by SEBI or RBI.
- Others are i-Stream (operated by ICAP IL Indian Pvt Ltd), TEX/SEP and 360TGTX (operated by Three Sixty Trading Networks (India) Pvt.
- The Olymp Trade makes sure that every visitor on this fantastic online trading platform doesn’t encounter any confusion.
Once registered, each trader will get a free demo account to practice risk-free trades. This account trades exactly like the live accounts on the platform with live quotes for all currency pairs, indices, and commodities using Olymp Trade Demo Dollars. Each trader has 10,000 Demo Dollars, which can be replenished an unlimited number of times. It also offers you the assistance of forex for testing your knowledge. It has proved itself to be a reliable guide in the world of financial markets for hundreds of thousands of people from all over the world. In February this year, RBI had warned people against trading forex on unauthorized platforms following growing reports of people falling prey to such entities.
Is Olymp Trade legal in India?
Every year, the company is setting a new record for its success. The brand has built a large repo in the online marketplace, which has become famous among young traders. Therefore, being a small investor, this place can prove to be a reliable option. Here, you can confidently invest your hard-earned money and secure a highly profitable position.
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Olymp Trade is a platform focused on making trading accessible to all. Investment is seen as one of the best hobbies, as it allows you to take advantage of the most traded financial market in the world, using the simplest trading instrument. Forex trading is by far the largest financial market with more than $5 million in daily volume, whereas options trading are the easiest instrument to learn.
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Amid the trading, if you encounter any issues, the chat function also pops up on the screen. This online broker allows you to put your strategy into execution that often surprises you when you draw profitable outcomes. If you’ve never stepped into a fully digital trading platform, it’s the best way to move on.
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- This account trades exactly like the live accounts on the platform with live quotes for all currency pairs, indices, and commodities using Olymp Trade Demo Dollars.
- Here, you can confidently invest your hard-earned money and secure a highly profitable position.
- The company has been a Category A member of the Financial Commission since February 2016, which guarantees traders reliable service and the protection of their rights.
- That’s why you can also trust this online trading platform easily.
- Olymp Trade is committed to providing transparent, reliable service, and paying close attention to client requests.
- Once registered, each trader will get a free demo account to practice risk-free trades.
It should be noted that there is a full economic calendar on the Olymp Trade platform, so no important news can be missed. The trader can also place an order and get a position opened only after the specific conditions have been met, like the time and the asset price. “Resident persons undertaking forex transactions for purposes other than those permitted under the FEMA or on ETPs not authorised by the RBI shall render themselves liable for legal action under the FEMA,” it added. Perhaps it’s a helpful thing for beginners, but it isn’t for expert traders who have significant capital to invest in.
How to Trade in Olymp Trade
To stay connected to the market, download an app for your iOS or Android smartphone. Olymp Trade mobile apps have the same atmosphere of active trading and can become an essential part of a trader’s career. It is a perfect solution for those who enjoy getting predictable financial results. Fixed Time Trade trading involves buying or selling a contract before a certain date (expiration) and getting specified returns. The risks of using this instrument are strictly limited, which prevents traders from getting a negative result like losing a larger amount than that of the investment.
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Copyright © 2025 FactSet Research Systems Inc.© 2025 TradingView, Inc. Olymp Trade has announced an introduction of a service levels system. In the first iteration, the company traders will receive Starter, Advanced, or Expert statuses. Using your mobile phone camera, scan the code below and download the Kindle app. Get to know where the market bulls are investing to identify the right stocks. The high quality of quotes and trade execution is certified by an independent system Verify My Trade.
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Forex mode on the Olymp Trade platform attracts users with its usability, a simple mechanism of placing the orders to fix the profit (take profit) or limit the loss (stop loss). The platform uses high-end encryption, which provides full protection to the user’s data. Every market follows a varying timeframe and you may find yourself restricted to invest in your favorite asset. Especially if you’re planning to invest in Forex Market that doesn’t remain open for all time. If you make a trade up to £5,000, you also get the opportunity to interact with a VIP consultant personally. For instance, how you can manage capital, the latest trading tips, etc.
In terms of deals and promotions, users can get a 50% bonus on their initial deposit. According to various sources, Olymp Trade is not technically illegal in India but it is in no way monitored or controlled by SEBI or RBI. This means if a trader faces any issues with regards to the app’s transactions or collections then Indian authorities will not be able to help. As Olymp Trade is not regularized by Indian authorities, various Indian banks are not dealing with the platform directly, only some international Devit/Credit are accepted on this platform.
The platform runs under IFC regulation, which isn’t a reputable regulator, and that may cause a little hitch in your decision to choose Olymp Trade for trading. Though, the spreads you get in a standard account are only 1.1 pips. The video tutorials, webinars, and interactive courses are some of the best things you get with this online broker. However, it often becomes hard for a few traders to trust IFC regulatory bodies because it isn’t that famous. The regulation and licensing describe the reliability of any online marketplace related to monetary exchange.
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Also, the RBI has clarified that an entity not appearing in the ‘alert list’ can’t be assumed to be authorised by the RBI. The RBI says people can undertake forex transactions only with “authorised persons and for permitted purposes”, in accordance with the FEMA rules. Though, in terms of education, the platform assists new traders a lot. Still, trading with a VIP trading account is more profitable but requires a relatively high minimum deposit amount.
The central bank has said people should not undertake forex transactions on unauthorised ETPs or remit or deposit money for such transactions. Those indulging in illegal forex transactions can render themselves liable for legal action under the FEMA. Olymp Trade is one of the cheapest alternatives for new traders to start trading. You can choose between standard to VIP trading account to start trade. It has been in the market of online trading for over 6 years and earned the trust of millions of traders worldwide.
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In a nutshell, the forex broker has everything that supports each of its clients in his/her trading journey. You can use the demo account right after the simple registration process. The demo account by Olymp Trade is a complete copy of the premium account. So make sure you’re choosing the same mode of payment while depositing and withdrawing the money. Though, the platform will never accept your withdrawal request from the different payment options. Every feature of this mind-blowing trading platform is clear and concise.
The entities in the alert list are neither authorised to deal in forex under the Foreign Exchange Management Act, 1999 (FEMA) nor authorised to operate electronic trading platforms for forex transactions. To sign up and start trading with Olymp Trade account, you must provide your name, a phone number and email address. Once all of the required information is entered, you can start practising with your demo trading account. Deposits can be Olymp Trade made quickly and easily through one of For a VIP account, you must deposit the required amount (approximately $2000). VIP account traders are given higher payout rates, forex trade multipliers, as well as the ability to make risk-free trades.