Olymp Trade is a legally registered binary options broker located in Saint Vincent and the Grenadines, but not regulated by any government agency.
Olymp Trade is also a member of the International Financial Commission (FinaCom), an independent dispute resolution organization.
Olymp Trade accepts clients from all over the world, excluding USA, Canada, European Economic Area, Switzerland, Israel, New Zealand, Australia, Japan, North Korea, Puerto Rico, Sudan.
Binary options broker offers the following underlying assets for trading.
|35+ Currency Pairs||Based on major and minor world currencies.|
|12 Crypto BOs||Based on Bitcoin, Bitcoin Cash, Bitcoin Gold, Ethereum, Ethereum Classic, Litecoin, Dash, Ripple, Monero, Zcash.|
|10 Indice BOs||Based on baskets of different blue-chip stocks.|
|4 Metal BOs||Based on Gold, Silver, Platinum and Copper.|
|2 Energy BOs||Based on Crude Oil (Brent) and Natural Gas.|
|12 Stock BOs||Based on shares of US companies.|
Olymp Trade is a binary options broker based out of Saint Vincent and the Grenadines, a well-known offshore jurisdiction for binary options & forex brokers. As usual in Saint Vincent and the Grenadines, the broker is not regulated by the government, and is instead merely registered as a legal business entity under the name Inlustris Ltd.
To compensate for the lack of government regulation, Olymp Trade in 2016 joined the renowned independent regulatory organization FinaCom (Financial Commission). Although perhaps not as good as traditional government regulation, an organization like FinaCom at least gives traders a place to turn to in the event of a dispute with the broker. The organization also has a compensation scheme in place, which in some cases can compensate traders with up to 20,000 EUR per complaint.
In terms of underlying assets that are available to trade binary options on, Olymp Trade has a fairly standard offering with an emphasis on major and minor forex pairs. However, this broker has also chosen to focus more heavily on cryptocurrencies than most other binary options brokers, with 12 different crypto pairs available. In addition to all the most common cryptocurrencies, this also includes lesser known coins like Bitcoin Gold (BTG), Ethereum Classic (ETC), Monero (XMR), and Zcash (ZEC).
Olymp Trade offers its clients its own web-based binary options trading platform, which is relatively similar to other binary platforms out there. The platform has a nice and clean design, is very easy to use, and features simple one-click trading. All underlying assets are available within the same platform.
The platform features a multi-chart layout, which makes it easy to monitor several different assets at the same time. The charts are also quite responsive, and comes with most of the technical analysis tools that one would expect.
The minimum deposit to start trading binary options with Olymp Trade is USD 10, which will give the trader access to the broker’s basic live trading account. For traders who just want to dip their toe into binary options trading, however, a demo account is also available free of charge. As most experienced traders would probably agree, this is an excellent opportunity to hone one’s skills before jumping into the market with real money.
All trading accounts can be funded with major credit & debit cards, popular e-wallet services such as Skrill, Neteller and others, as well as cryptocurrencies. There is no fee charged by Olymp Trade for deposits and withdrawals, although the third-parties used to conduct the payment may charge their own fee. For withdrawals, it’s also important to remember that they can only be made back to the same account as the original deposit came from.
Olymp Trade’s customer support is available via local phone numbers in South Africa and Argentina 24 hours a day, 7 days a week. In addition, traders can reach out to the company through email or a live chat option on the broker’s website. Worth noting, however, is that despite the broker’s promise that live chat is available 24/7, no customer support agents were online at the time of our testing.
In conclusion, we believe Olymp Trade is among the better offshore-based binary options brokers available today. The brokerage has a track record dating back to 2014, which adds credibility to its name and reputation as a reliable binary options broker.