Olymp Trade was founded in 2014 by SMARTEX INTERNATIONAL LTD. The app offers trading platform for traders to trade different type of financial products such as crypto currencies, forex currencies, commodities and many more. The app is available for both android and IOS devices. App interface is easy to use and understand.
App Features and Capabilities
The first thing you will see is the login page where you can register your account by providing basic details such as name, mobile number, age, email, and etc. you can also register using your social networking accounts like Facebook, twitter, and etc.
Demo Account: With this account you can start learning in the actual market hours, you will get demo currency with that you can trade on different assets like commodities, forex, etc. you can try different strategies in the demo account before trading on the actual market. This is also known as paper trade.
Real Account: With this account, you trade with real money, you can execute any strategies that you have tested on the demo account. It is similar to a demo account but with real money.
Trade Duration: This is the time when your trades will close, when you add a trade after some time the trade will end and it will you if you have made a profit or loss. This can be set according to your choice.
Amount: In this section you can set amount as per your risk appetite. The maximum amount to trade is $2000 and the minimum amount to trade is $1.
Strike Price: With strike price you can set the rate of return on certain trades. With this you can know the percent of profit and loss on the trade.
Sell and Buy: These are the two-button you will use the most. Sell is to predict the chat will move low and buy is to predict the chart will move in the upper position.
Indicators: there are many indicators available in the app such as SMA, EMA, Bollinger Bands, and many more. This can help you trade more effectively.
Draw: this is the feature which is used by most of the traders, traders can draw Horizontal Line, Vertical Line, and Trend Line. This is used to set support and resistance lines.
Charts: there are different types of charts such as Area Chart, Japanese Candlesticks, Bars, and Heiken Ashi. You can also set the timing of the chart such as 15s, 1m, 5m, 10m, and 15m.
Profile: In this section you can set gender, DOB, name, surname, middle name, and many more.
Asset: assets are the product that you can trade on such as EUR USD, GBP USD, Forex, and many more.
Trades: In this section you can see all the executed trades, a historical result of your trade.
Help: here you can communicate with the customer support executive and solve many common issues.
Deposit: the minimum deposit amount on the app is $10. For deposit amount $10 and $20 you don’t have any bonus available, bonuses are available from $30.
Withdrawal: The minimum withdrawal amount on the app is $10. You can withdraw money using the same system you deposited money from.
Transaction: with this a feature you can get all the transaction report from past, you just have to select the period and transaction type, and you will get all your transaction report from that filter.
Pros
The app is easy to use and understand.
Deposit and withdrawal options works well.
You get paper trading feature in the app which is useful for beginners.
Cons
Sometimes the app takes 5days to withdraw money from your account.
Other Information to Know
The app is genuine and has all the licenses required for a trading company. App only works on internet connectivity.
