These markets are helping people around the world in making their lives sustainable. Before you invest your hard earned money in financial markets, you are given the opportunity to practice and build a solid foundation of skills. 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.

Why Beginners Should Choose Olymp Trade: Benefits of Olymp Trade

• 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.
• Similarly, if you’re also a new trader without any prior trading experience, don’t skip using the demo account.
• Using your mobile phone camera, scan the code below and download the Kindle app.
• Though, the platform will never accept your withdrawal request from the different payment options.
• To stay connected to the market, download an app for your iOS or Android smartphone.
• 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).

In the demo account, the virtual account balance of £10,000 allows you to trade in a virtual environment. Whatever the features you’ll use in the premium accounts, you can get a glimpse of every pinpoint at the demo account. If you love putting your smart strategies while trading and always prefer multiple trading options, then Olymp Trade will surely be made for you. Ensure that the platform can close your account if you haven’t maintained a sufficient balance in your account.

Virtual Trading Account or Demo Account

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. 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 Olymp Trade is one of the cheapest alternatives for new traders to start trading.

Olymp Trade – Conclusion

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.

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• Those indulging in illegal forex transactions can render themselves liable for legal action under the FEMA.
• Don’t worry then; the Olymp Trade Mobile app here comes up as the best option for you.
• The platform uses high-end encryption, which provides full protection to the user’s data.
• VIP account traders are given higher payout rates, forex trade multipliers, as well as the ability to make risk-free trades.
• Overall, Stock Price Trades is a truly user-oriented trade mechanic.
• Though, the country where you reside is the chief deciding factor in whether you can trade in a particular asset or not.
• However, you might have found this same thing in other online trading platforms too.

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.

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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 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. Besides this, the Olymp Trade website provides users with a free demo account and allows them to practice their strategies which can be implemented whilst doing real-time trading.

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Traders desired to experience a wide range of financial instruments offered under genuinely user-oriented terms. Respecting the recommendations of the users, the trading app introduced the Stock Price Trade service. There are trading strategies, workshops and webinars from the company’s analysts for traders of all levels in the “Education” section of the platform. It should be noted that there is a full economic calendar on the Olymp Trade platform, so no important news can be missed.

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• Others are i-Stream (operated by ICAP IL Indian Pvt Ltd), TEX/SEP and 360TGTX (operated by Three Sixty Trading Networks (India) Pvt.
• Analyze the market sentiments & identify the trend reversal for strategic decisions.
• 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.
• In terms of deals and promotions, users can get a 50% bonus on their initial deposit.
• It has been in the market of online trading for over 6 years and earned the trust of millions of traders worldwide.
• You can choose between standard to VIP trading account to start trade.

That’s why you can also trust this online trading platform easily. For new traders, a demo account has always been the first helping hand. Similarly, if you’re also a new trader without any prior trading experience, don’t skip using the demo account. Suppose you want to take a full overview of this online trading platform before using its premium account.

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Today, the brand continues to evolve, and the awards that this online trading broker has achieved witness it. 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.

The names that have been added to the RBI’s Alert List

The price chart can be presented as Japanese candlesticks, bars, HeikinAshi candles or a line chart. No matter whether you’re trading through mobile or desktop, if you’re using Olymp Trade, you can invest at any time, anywhere. If you are afraid of putting your money for trading via a random trading platform, you can check its licensing.

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. Amid the trading, if you encounter any issues, the chat function also pops up on the screen.

• Just visit the mobile app store and download the Olymp Trade app.
• Especially if you’re planning to invest in Forex Market that doesn’t remain open for all time.
• Trading strategies, indicators, and analytical tools are essential for a trader.
• 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.
• The company’s commission for the executed trades is minimal, and traders aren’t charged extra for depositing or withdrawing their money.

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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. Olymp Trade is committed to providing transparent, reliable service, and paying close attention to client requests. Before investing your money, don’t forget to try a couple of strategies to determine what suits your goals and trading style best and thus minimise mistakes. Olymp Trade created its free educational material and built-in automated assistant, keeping the new traders in mind.

• It is also crucial to point out that the value of spreads can rise or fall as the market conditions go up and down.
• Don’t worry then; the Olymp Trade Mobile app here comes up as the best option for you.
• Meanwhile, the RBI’s list of authorised ETPs includes FX-CLEAR, NDS-Call, NDS-OM, CROMS, TREPS, ASTROID, and FX-SWAP — they are all operated by Clearcorp Dealing Systems (India) Ltd.
• Overall, Stock Price Trades is a truly user-oriented trade mechanic.
• Those indulging in illegal forex transactions can render themselves liable for legal action under the FEMA.
• “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.
• VIP account traders are given higher payout rates, forex trade multipliers, as well as the ability to make risk-free trades.

NEWS

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. The Olymp Trade makes sure that every visitor on this fantastic online trading platform doesn’t encounter any confusion. Olymp Trade has been one of the strongest players in the financial industry.

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Manage your money efficiently with this weekly money management guide. Analyze the market sentiments & identify the trend reversal for strategic decisions. Check the score based on the company’s fundamentals, solvency, growth, risk & ownership to decide the right stocks. Olymp Trade Forex is perfect for those who want to develop as a trader and get great results. Meanwhile, the RBI’s list of authorised ETPs includes FX-CLEAR, NDS-Call, NDS-OM, CROMS, TREPS, ASTROID, and FX-SWAP — they are all operated by Clearcorp Dealing Systems (India) Ltd.

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. Whenever you wish to make a well-informed decision, this app will always assist you. If you have a question you can always find the answer through the automated assistant or a help centre.