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Olymp Trade Review 2020 – Understand the Risks Before Buying Binary Options

Sep 4, 2020
Olymp Trade Review

Olymp Trade is one of the most prominent binary options brokers on the market today. Founded in 2014, the firm has over 25,000 clients and processes 32 million trades each month. Most major financial regulators forbid the trading of binary options. So, Olymp Trade does not have a registration with any of these regulators. We don’t recommend trading in binary options and, therefore, cannot recommend this broker.

Olymp Trade is Not Under Reliable Regulatory Jurisdiction

Much like ProfitiX, Olymp Trade does not have a registration with any prominent regulating body. Smartex International Ltd is the company that owns them. This company bases its operations out of St. Vincent and Grenadines, a country with low requirements for registering a brokerage. Olymp Trade is a member of the Financial Commission, also known as FinaCom. This is a self-regulating agency that does not have the authority of the FCA or CySEC to resolve disputes and levy fines against brokers. Therefore, this arrangement means that the company is virtually unregulated and unmonitored. So, investors trading with them open themselves to substantial risk.

Binary Options by Any Other Name

Olymp Trade calls their binary options “Fixed Time Trading,” referring to the fixed amount of time set when investing in binary options. Also, they offer binary options on forex, commodities, indices, stocks, and cryptocurrencies. When investing in binary options, most brokers allow traders to predict either a price increase or decrease. The presence of only two options is why they are called binary options. The broker enables investors to predict that an asset will remain the same in price, effectively creating trinary options.

Olymp Trade Broker

Olymp Trade Revenue Streams

Olymp Trade doesn’t charge commissions or charge many of the standard fees that other online brokers do. They do have an overnight position fee. Their primary revenue stream is from the spreads on their binary options. The minimum deposit to open an account is only 10 USD, and minimum trade amounts are 1 USD. This low entry requirement is highly attractive to inexperienced traders who might not understand what binary options are and why they should avoid them.

Olymp Trade provides investors with a trading platform that they have developed themselves. Trading is accessible through their website, a desktop app, and apps for both Android and iOS. The platform is easy to understand and presents investors with relevant information on the assets they’re considering

Let the Experts Handle Your Difficult Situation

An unregistered offshore binary options broker can be challenging to negotiate with when trying to recover lost funds. Offshore brokers often obscure communication details, and the actual ownership and location of the broker can be hard to find. Our team knows how to navigate this complicated process. If you’ve lost money investing in binary options with Olymp Trade or another broker, contact us today, and our team will evaluate your potential options.