OlympTrade Review

If you’re considering trading online, chances are you’ve heard of OlympTrade. Olymp Trade has been an online broker since 2014. They joined the IFC in 2016. In 2017, they won awards for Best Options Broker at Forex Expo and Best Financial Broker at CPA Life. However, winning awards doesn’t automatically mean a broker is reliable. There’s much to think about. In this review, we’ll talk about the important things to decide if OlympTrade is a safe place to invest your money, or if you should look elsewhere.

🏢 Headquarters	Malta
🗺️ Company Name	Olymp Trade
🗺️ Foundation Year	2014
🗺️ Company Address	123, Melita Street, Valletta, VLT 1123, Malta
🗺️ Website	https://olymptradeidn.com/
🗺️ Contact	support-cn@olymptrade.com
💻 Regulatory Status:	No Regulation
🗺️ Type of License	No license
💰 Should I trade with it	No (We don’t recommend)
⭐ Scope of Business	Suspicious

What is OlympTrade?

OlympTrade is an online broker founded in 2014. It’s owned by Saledo Global LLC and based in St. Vincent & the Grenadines. People from over 30 countries can use it. It lets you trade over 80 things like stocks, currencies, cryptocurrencies, commodities, and indices. Only certain companies can join, and they cover each trader for up to €20,000 through the FinaCom Compensation Fund, protecting customers.

Is OlympTrade safe or a scam?

No, OlympTrade isn’t a scam. But we don’t suggest using OlympTrade. It’s a broker from another country that started in 2014. Although the Vanuatu Financial Services Commission (VFSC) has regulated it since January 2023, we don’t think this is a top-level regulator.

Its partner company that offers crypto services, Saledo Global LLC, is registered in St. Vincent & the Grenadines, which is often seen as a place to avoid taxes. OlympTrade is part of the International Financial Commission (FinaCom), which helps settle disputes, but it’s not a financial regulator or a scheme to compensate investors supported by the government.

FAQs

What types of accounts does OlympTrade have?

OlympTrade offers two main account types: ECN and standard. You can test both using their demo account.

Can I trade on my phone with OlympTrade?

Yes, you can. OlympTrade has a mobile trading app for Android and iOS, and you can also use MetaTrader 4 on your phone. If you prefer, there’s also a desktop version available.

Is OlympTrade a scam?

No, OlympTrade is not a scam. However, it’s not recommended due to concerns about its regulatory oversight.