How to Start Trading at Olymp Trade for Beginners
Register Olymp Trade Account
Firstly, to Register on OlympTrade Platform, you will need to find Login / Registration form as above. However, if you already have an account, you may login by entering your E-mail address and Password.
- Visit OlympTrade website or mobile app,
- Click on the menu “Registration”,
- Enter your E-mail,
- Enter your Password,
- Select account currency,
- Agree with terms conditions,
- In case of social registration click on “Apple” or “Facebook” or “Google”,
- Click on “Register” button
How do I register on the Olymp Trade Platform
If you want to Register on OlympTrade Platform, you will need to click on ‘Registration’ tab and fill all fields as it is shown above. You will be asked to provide broker with the following information:
- Your Name.
- Email address. Please make sure that you have access to E-mail address you entered in order to avoid the loss of the account and any other difficulties.
- Telephone number. You need to have access to the telephone number you entered as well, so be careful.
- Password. You will need to create a strong password to keep your account secure from others. Don’t forget to remember the password which you have created.
- Currency. You will need to select the currency you will be trading on (EUR or USD).
- You will also need to agree to the service agreement and confirm that you are of legal age (over 18).
- Finally, after all of the information is fulfilled, you may press on the ‘Register’ button.
How to register with a Facebook accountTo sign up with a Facebook account, click on the corresponding button in the registration form.
In the new window that opens, enter your login details to Facebook:
Once you’ve clicked on the “Log in” button, you will be automatically redirected to the Pocket Option platform.
To sign up with a Google+ account, click on the corresponding button in the registration form.
How to register with a Google+ account
In the new window that opens, enter your email and click “Next”.
Then enter the password for your Google account:
After that, follow the instructions sent from the service to your email address.
How to register Olymp Trade account from mobile app?
You can also download app on your Android or IOS mobile device and register from there. All steps are pretty the same as on the version for browser so you will not have any difficulties with it.
How to Verify in Olymp Trade
The verification procedure includes 4 steps. We will provide you with instructions to follow.
Proof of identity
A client may submit one of the following documents:
- ID card
- Driver’s license
The photo should be no more than 2 weeks old. The photo should be original, colour, and without any additional corrections. It should not be saved or edited in Photoshop.
Simply follow the instructions on the screen.
Proof of Address
A client should provide one of the following documents:
- A bank statement with the client’s name and address visible in a single image and issued no more than 3 months ago.
- A utility bill with the client’s name and address issued maximum 3 months ago.
- A tax declaration with the client’s name and address visible in a single image issued no more than 3 months ago.
- A valid student or work visa or a residence permit for another country.
Proof of Payment
When uploading images for proof of payment, please note that each payment method needing confirmation should be uploaded to the corresponding section. For successful uploading, please do not create any sections on your own.
Before verifying the e-wallet used on the platform it should also be verified by the e-wallet website.
- The client should send a screenshot with the transaction to/from the platform, the owner’s name, and the number of the e-wallet visible in one image.
- If this information is not visible in one screenshot, the client should send several screenshots. For example, one with the e-wallet number and the owner’s name, and the second with the e-wallet number and the transaction visible. The screenshots should be relatable to one another.
Click “History” on the left to see the transaction history. If you have a lot of transactions on your Neteller account, choose the transaction type and date to narrow your search and then click Apply. After that, click on the human sign in the upper right corner. Ready! Make a screenshot of all of these pieces of information.
Choose “Transactions” on the left-side menu and then choose the time period and transaction type. After that, click on the human sign in the upper right corner. A tab with the e-wallet owner name, e-mail, and user ID will be shown. Make a screenshot of all of these pieces of information. All the information should be visible in a single screenshot.
On the main page, please make a screenshot where the WMID, e-wallet number, and transaction amount and date would be seen altogether.
Then click WMID. Make a screenshot of the opened page.
Please provide a screenshot of transaction details (sum and date). Choose the order history in your e-wallet and make a screenshot of them.
For confirmation of your Perfect Money e-wallet 2 screenshots should be provided.
The first one — with the owner’s name and e-wallet number:
The second — with your e-wallet number and transaction to the platform (amount and date should be visible):
For confirmation of this e-wallet, a screenshot with the date and amount of transaction should be provided.
- The customer should provide a photo of their card. The back of the card is not required.
- The first 6 and the last 4 digits, expiration date, and the owner’s name should be visible in a single photo.
- Stolen/blocked card — a document certifying that it was issued to the customer.
- If there is no document such as in point 3, a bank statement with the name and bank card number visible in a single photo or screenshot.
- If there is no statement with the owner’s name and card number, let the customer provide one with his name and the transaction(s) to the platform. The sum, date, and the name should be visible in one image.
- If nothing can be provided, please contact KYC.
For confirmation of virtual cards a statement with the owner’s name and transactions should be sent. All data should be visible in one image.
- To confirm an Astropay Card, the customer should send a screenshot from their Astropay Card account. The account holder’s name and transaction details (sum and date) must both be visible in one image.
- If a client claims that they can not provide a screenshot from point 1, let them send a screenshot from their bank account confirming these transactions. The name and the transactions must be visible in a single screenshot.
A client should open the “Card Uses” section and take a screenshot of this page if they deposited the whole sum of the card at once.
Confirmation of the Origin of Funds
In some cases, the Company may request a document that will confirm the source of funds.
Why is it requested?
- To protect our users from fraud.
- To comply with corresponding laws that allow us to operate as a financial company.
To confirm the legality of the funds, you will need to provide one of the following documents:
- an income statement for the past year
- a bank statement with an indication of the source of income
- an agreement for the sale of shares
- an agreement for the sale of property or a company
- a loan agreement
- a document that proves share ownership.
The document should contain your name.
How to Deposit Money at Olymp Trade
Olymp Trade Deposit
There are few ways of making deposit on Olymp Trade broker. In order to make your first deposit on Olymp Trade you will need to find orange ‘Make a deposit’ button which is located on the top right side of the trading platform. The second method is to find ‘Deposit’ button in the menu which is located on the top left side of the page. Everything is identical the difference is only in button position.
After you pressed on the ‘Make a deposit’ button, this window will appear. Here you will need to press on green ‘Deposit’ button.
Olymp Trade Deposit Methods
You will be redirected to the following page. Here you will need to select a payment method. Deposit is available from a bank card (VISA, MasterCard) or Electronic payment systems (AstroPay, NETELLER, Skrill, bitcoin, WebMoney and fasapay).
Olymp Trade Top up Account
Once the payment method is chosen you will need to select the amount of deposit. As you may see on the picture, % of bonus depends on the amount of the deposit itself. For example: if you make a deposit on €10 – €20 you will get NO bonus and if you make a deposit on €300 you will get €390 on your account. You may also become a VIP trader if your deposit amount is €2000 and more. Consequently, the more is deposit the more you will get extra. As you have finished with your choices, press on the green ‘Deposit’ button.
Olymp Trade Bank Card Payment
The final step of making a deposit is the payment process itself. You will be redirected to the window where you will need to enter the following information:
- Cardholder Name – basically it is your name.
- Card Number – number is written on the front side of the bank card.
- CVV2 – (CVV) is a 3-digit number on the back side of your bank card (three last numbers that you see).
- Month – enter a month of expiration of your card.
- Year – enter a year of expiration of your card.
- Pay – press on the ‘Pay’ button to make deposit.
Olymp Trade e-payments Deposit
Making a deposit using electronic payment systems on Olymp Trade is identical to the deposit from a bank card. I took NETELLER for this example. The only difference is that you will have an option to deposit €5000 and get €7500 on your account. You will also get 3 risk-free trades (1 X €50 : 2 X €100) and a VIP status of course. After you made your decision press on the green ‘Deposit’ button.
Note: Even though AstroPay is in the electronic payment systems, everything will be the same as on the deposit from a bank card.
Olymp Trade Promo Codes
On Olymp Trade you also can use promo codes to get more funds on your account. On the previous picture you may see ‘Bonuses’ menu, there you will need to select an ‘Promo code’ option and enter a promo code as it is shown above.
Olymp Trade Bonuses on First Deposit
Whenever you deposit $30 (or €30) or more, you will be offered some bonuses. The bigger the amount, the bigger the bonus you can receive. Then, you may choose to deposit your bonuses.
Note: This deal will be valid for one hour only, try not to lose your chance!
What is CVV/CVC/CVV2 code?CVV/CVV2/CVC code is Card Verification Code. It is a 3-digit number which you can find at the back side of your debit/credit bank card (three last numbers which you can see). This code is used to authenticate your card when you are purchasing or making transactions through the internet.
Minimum Deposit Amount on Olymp TradeThe minimum deposit amount on Olymp Trade is €10 / $10.
Maximum Deposit Amount on Olymp TradeThe maximum deposit amount on OlympTrade is €5000 / $5000. However you may deposit as much as you want. Contact 24/7support if you will have any issues, they will always help you.
How to Trade at Olymp Trade
When you signed up for the fresh Olymp Trade account, it is time to gain knowledge about the platform. With some previous experience with other trading platforms, it should be easy to get familiar with the Olymp Trade trading interface. And of course, we are here to help you. You can begin with our quick guide to the Olymp Trade user interface or just dive into this tutorial to get to know all the useful features and tools the Olymp Trade platform has to offer.
Inside of the Olymp Trade trading interface
When you log in to the platform you will see something similar to the screenshot below. We have sliced the screen showing that actually there are 4 different sections:
- Top Bar.
- Chart Area.
- Trade Management.
- Trades and Orders.
Let’s take a closer look at each section so you will have a better understanding of each section.
- The question mark icon will take you to a submenu with a few informational items. From here you can access support chat. There is also the Olymp Trade Assistant section, where you can find answers on how to use technical indicators, how to read charts, how to make deposits and withdrawals. If you’d rather watch and listen, Video Tutorials may be something for you. For traders with VIP status, Olymp Trade prepared the trading signals section that is also available from this submenu.
- The “Hamburger” menu gives you access to your account settings and history. It allows you to change your profile data. From here it’s possible to initiate the withdrawal and deposit process. Connected Education and Analytics sections will give you additional insights into current market conditions.
- All the time your Olymp Trade platform can be used for trading on Demo or Live account. Here you can see an available balance on each account and you can easily switch between them.
- Make a deposit button is self-explanatory. It allows you to add funds to your real account or recharge your demo account, if necessary.
- Here you can see the name of an asset that you are currently trading. In case of the financial derivatives, the payout rate is also included so you will know how profitable your trade can be. You can choose a different asset simply by clicking on the asset name.
- Compass icon gives you access to technical analysis tools such as technical indicators and drawing tools.
- Chart type selector allows you to choose the preferred chart format. You can switch between the line chart, bar chart, candlestick chart, or Heiken Ashi.
- The trade starts line is positioned at the current candle, just to show the distance between itself and End of the trade line. The time between them comes from the preset trade duration.
- End of trade line – see explanation above.
- Plus and minus buttons allow you to scale in and out your chart. This tool is useful when you want to focus on just a few candles or you want to see the bigger picture.
- Time frame selector allows you to change the time frame of the chart from 15 seconds up to 1 month. Depends on your trading style and the length of a transaction you can set a suitable period of single candle creation.
- The candle timer shows how advanced is the current candle. In other words, it simply tells you how much time is left until the current candle close.
In the picture below you can see the trade management section for trading financial derivatives. It will be different when you choose to trade CFDs. You can read more about the differences in our guide on trading on Olymp Trade. Now let’s focus on financial derivatives.
- Trade duration. This is where you decide about the expiration of your financial derivative order. You can choose any time between 1 minute up to 23 hours.
- The investment amount is simply the amount of money you want to place in the upcoming trade.
- Custom order is used for pending orders. You can decide to open a new transaction in the future at a specified time or a specified price. It is useful if you don’t want to spend all day in front of your computer. Still, using pending orders should come from the rules in your trading plan and your trading strategy.
- Up (green) and Down (red) buttons are triggering your trade in the direction of your choice.
Trades and Orders
This section of the Olymp Trade trading interface allows you to analyze your past performance. If you have opened trades you can follow them in the Trades tab (1). All your orders, current, and past, are visible in the Orders tab (2).
Simple Steps to Start Trading in Olymp Trade
1. Trading is an activity that lets you earn money on price fluctuations of different assets such as currency pairs, commodities, and stocks. FTT assets vary in profitability. In this case, you will receive 82% of profit if, when the trade expires, the chart will still be moving in the correct direction.
2. Set the investment amount at $100. Dont worry, this is training money.
3. Select 1 minute as the duration of your trade.
4. Look at the chart and decide where it will go next: Up or Down. The chart shows how the price of an asset changes. If the line on the chart is going down, it means the price is falling. If its going up, the price is rising.
5. Congratulations! Your trade was successful. By investing $100, youve earned $82 — a 82% return in just 1 minute.
How to Trade Forex at Olymp Trade
At first, there are lots of currency pairs available for trading on olymp trade. Moreover, traders also making profit on the trends which you can find on this broker as well.
Why should I Invest in OlympTrade Forex Platform?
Secondly, you will be able to select the most advantageous strategy for trading. It will work even with small deposits.
Thirdly, such functions as: Take profit and Stop loss will help you to gain more from trading with small costs.
Fourthly, Trading on OlympTrade Forex is suitable for those who make lots of trades per trading session and respects long-term trades.
Firstly, there is nothing hard in trading Forex on olymptrade platform. However, if you already have experience in trading Fixed Time Trades it will be much easier for you to start. The following 6 steps will bring you up to date:
How to Trade on OlympTrade Forex?
- Under the chart there is a menu, where you will need to select a currency pair.
- Specify the amount of trade.
- Make a forecast by analyzing the asset price chart.
Indicate a Take Profit parameter, if you want a certain profit. Then, a trade will be closed automatically. Press on the “Order” button to open this menu.
- The Stop Loss parameter will help you to set the limit for maximum loss. What is more, it will also help you to close the trade.
- The great thing is, that trade with the current result can be closed at any time.
Which Assets to Choose for Trading?First of all Forex trading. The conditions here are very tempting, as the minimum starting capital is from $ 10 and trading 24 hours a day, 5 days a week. This gives more trading signals in a shorter time.
You can also choose Fixed Time, Stocks, ETFs and other assets that can be traded in completely different ways and in any term from one-day positions to long-term ones.
Having acquired a little experience at Olymp Trade, you can earn 50 thousand dollars with a minimum stake of 10 dollars, such cases have already been on the platform more than once. In general, newcomers can earn very little on the exchange at first. But that’s okay, as long as you don’t learn the intricacies of trading through practice.
Risks and Rewards in Trading Forex?Just like any market, there are a number of risks and rewards in trading Forex. Fortunately, the amount of either is wholly dependent on the investor, their experience, their ability to analyze data, and their independent decision making.
One thing to keep in mind is that there is a winner in every trade made between two parties based on the time that the transaction takes place and assets behavior following the trade. Traders should never risk more of their capital than they are willing to lose. Fortunately, with diligent effort and taking advantage of the plethora of educational tools available, a trader can often come out far ahead of the curve in profit.
Market VolatilityOn the surface, the exchange rate of assets in the Forex market might seem to move very little. For instance, the changes between the exchange rate of the U.S. and Canadian Dollars (USD/CAD) only fluctuated a total of 16 cents (0.16 USD) between 2017 and 2019. However, looking at the market chart below, one can see that there were many increases and decreases over that time period. These movements provided opportunities for investors to profit from these changes.
Because currency pairs are traded based on pips (often 0.0001 of the currency) as units and because of the sheer size of the amounts traded, there is plenty of activity within the market for traders to capitalize on.
Using LeverageTypically, currency pairs are traded in “lots”. A standard lot is 100,000 of the currency unit being traded. On the Olymp Trade Platform, “lots” are not used in order to simplify trading.
The size of these lots would normally price many investors out of the market since they don’t have $1,000 in capital to invest in one trade let alone $100,000. Therefore, brokers allow investors to use leverage to make trades in order to allow them access to the market and to increase their profits.
Here are some examples of using leverage versus only using margin to make a trade. The first example is based on a change of only 1 pip in the market. The second example is for a change of 5%.
Using leverage properly, an investor can see significant returns on their investments in relatively short periods of time. Of course, this comes at an increased risk to the investor and to the broker that agrees to lend the money for the leverage.
This problem has opened the door for creative brokers that have found ways to limit the risk to both the investor and themselves while still providing leverage for small investors.
Now you have a good general idea of how the Forex markets work and what is involved. Therefore, it is time to take a look at how you can tackle the Forex market on your own terms to create a more financially independent future for yourself. Olymp Trade is here to help.
How Olymp Trade Helps Turns Risk Into Reward
Here are some ways that new investors can overcome the risks of investing in Forex and still trade profitably with only a small amount of capital.
- Learn how to use market analysis tools, read charts, and spot market behaviors
- Get educated on strategies used in trading Forex
- Learn from expert traders on what they look for when trading
- Open a “Demo Account” with a broker to practice
- Set achievable goals and develop a strategy to reach them
Maximizing Profit While Reducing RiskOlymp Trade has used creative methods to help investors get the most out of their capital while providing them tools to reduce the risk on their trades. Here are some of the best features of the Olymp Trade platform available to traders.
Forex Trading Multipliers – Earlier we explored an example of how using leverage can turn a small investment into a highly profitable trade. Unfortunately, this came with the risk of owing the leveraged amount to the broker if the trade goes badly.
To compensate for this, Olymp Trade allows traders to use leverage with multipliers as high as 500 times the invested amount on trades. However, trades will automatically close once the amount of the margin invested is lost on a trade gone bad. Below is an example of the Olymp Trade multiplier and how it works.
The upside on the trade is still the same as with normal leverage, but in order to protect investors, the position will automatically close when the invested amount lost reaches 100%. In this way, the investor never needs to worry about owing the leveraged amount to Olymp Trade if the trade doesn’t perform as expected.
Even better, using Olymp Trade’s “Stop Loss” tool, the trader can set an amount for the position to close if it goes the wrong direction. The Stop Loss tool is automatically set at 50%, but can be adjusted by the trader depending on the level of risk they choose to take.
On the profitable side, traders can also set a position to automatically close once it reaches a certain level of profitability. Using the “Take Profit” tool, traders decide at what level they are satisfied with the profitability of a trade. Once it is set, they can walk away knowing that when the position reaches that profitable point, it will be closed and the profit added to their account.
The combination of the multipliers, stop loss, and take profit tools gives traders more control over their investments. Even when they can’t be at their phone or computer watching the action firsthand they can feel comfortable.
A further benefit for Olymp Trade’s Expert members is the ability to enter risk free trades a certain amount of times per month. Olymp Trade’s Expert program has numerous advantages, but the ability to cancel a trade gone bad periodically is a huge step in reducing the risk of Forex trades.
One of the key hurdles for new investors that can add to the risk is a general lack of knowledge and experience of the market itself. Fortunately, there a number of ways to get the education and experience you need to be successful in the market.
Gaining Knowledge and Expertise in Trading Forex Using Tools
Olymp Trade provides many different tools to help their clients reach their investment goals through the Forex markets. It isn’t difficult even for beginners as long as they’re willing to take some time to become knowledgeable and gain some experience.
Some of the tools available to Olymp Trade clients include:
- Video and blog tutorials on how to read charts and analyze them correctly
- Videos and blogs from experts on creating your own charts
- Olymp Trade platform provides free, customizable analytical tools
- Online trading assistance from experts in real time on the platform
Taking only a few hours a week to build your education can pay huge dividends in the coming months as you build your portfolio.
Practice Leads to SuccessAs part of the first steps on the market, we recommend that you do not neglect demo trading. Even if funds allow you to spend a significant amount on gaining experience and testing various strategies, there are a number of nuances that do not require material costs.
The demo account Olymp Trade allows you to learn on the amount of $ 10,000 without incurring any losses. Within the framework of educational trading, you will be able to study the trading terminal, see real orders, get your hands on, correct minor technical mistakes when testing trading ideas. And all this is risk-free and absolutely free.
How to Withdraw Funds From OlympTrade
To begin with, to make a withdrawal on OlympTrade broker you will need to open the menu which is located at the top left corner of the trading platform. After that, click on the ‘Withdraw’ button.
You will be redirected to the ‘Request for a withdrawal’ page. Here you will need to enter the amount you want to withdraw and press on the ‘Send a request’ button.
OlympTrade minimum withdrawal amount
Minimum withdrawal amount on OlympTrade is €10 / $10
OlympTrade maximum withdrawal amount
The great thing is that there is no limitation on maximum withdrawal amount on this trading platform. In other words, you may withdraw as much as you want.
What Payment Methods Can I Use?
There is a unique list of payment and withdrawal methods available for every country. They can be grouped into:
- Bank cards.
- Digital wallets (Neteller, Skrill, etc.).
- Payment invoice generation in banks or special kiosks.
- Local banks (bank transfers).
OlympTrade withdrawal request. How long wait?
A withdrawal request will be processed within 24 hours. Unfortunately, in 10% of the situations it may take up to 5 working days. But most often it takes just one working day to send you your profit.
Is there any withdrawal commission?
There is 0% of commision on olymptrade withdrawal requests. You will get every single cent of your income.
However, note that some payment systems do charge their customers for depositing or withdrawing money. We recommend checking with your financial services provider in advance.
Where will I receive my money?Your funds will be withdrawn to the same bank card or electronic wallet which you used to make a deposit. If your bank became inactive / blocked or the same happened with your electronic wallet, you will need to contact the 24/7 support and they will help you with the replacement of the card or electronic wallet.
Add new bank cardIf you, for some reason lost access to your bank card, you will need to contact OlympTrade’s technical support and explain them your situation. Most importantly, don’t try to make a withdrawal on a card you don’t have access from. Financial specialist will help you to change method of fund withdrawal. If you have made a request for a withdrawal on a card you don’t have access from, inform about that financial specialist as well.
Can I withdraw bonuses
Unfortunately you won’t be able to withdraw bonuses. However you will be able to use them to make more profit and after, withdraw that profit.
Can I Withdraw My Profit Made with Risk-free?Risk-free trades is a special service for the company’s Expert traders. They protect the Fixed Time trade amount from loss. Having activated a risk-free trade, a trader uses its amount to open a trade and makes a forecast.
If the trader’s forecast is wrong, they receive the money back. If the forecast is correct, the profit can be withdrawn right after receiving.
By the way, risk-free trades are not the only privilege of having an Expert account on Olymp Trade. You can read about all benefits here.
Is There a Way to Quicken the Funds Withdrawal?There are only three ways to withdraw funds from Olymp Trade faster:
- Firstly, you can become a Expert trader. Their requests for funds withdrawal are given top priority.
- Secondly, use the recommended payment methods like Skrill to withdraw your funds.
- Thirdly, each trader should pass verification in their user account or through a special mobile app.
The Olymp Trade trading interface is simple. That doesn’t mean that you shouldn’t practice. But here is the great thing about Olymp Trade. You can open a demo account and perfect your skills. Have fun, click here and there, get to know Olymp Trade platform features. It will help you to avoid unnecessary mistakes when you start real trading.