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Olymp Trade: a new approach to Forex trading

ByHanna Andersson 23.7.2018         Mail Now X   Post Comments

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Making money on the Internet, particularly from online investments, attracts many people. However, a lot of beginners have a pretty vague idea about where to begin. In addition, many unprofessional projects on the web cause people to lose money and feel disappointed.

So, the first most important thing would be finding a reliable company and master trading techniques that work well on financial markets. Olymp Trade is a company of this kind, and in this article we look at the great opportunities offers by their new Forex platform.

Olymp Trade credentials

Olymp Trade is an online investment platform that has been providing financial services worldwide since 2014. The company has already earned significant trust internationally (20 million registered users from over 20 countries).

Apart from the company's solid reputation, customers benefit from reliable safety guarantees of their funds. Olymp Trade is an "A" category member of the International Financial Commission.

Deposits up to $20,000 USD are insured, so in case of any contradiction this amount will be paid to the trader. But chances of such dispute are minuscule, as Olymp Trade makes every possible effort to provide high-quality service to its customers.

It does not matter if you start trading Forex with only a small amount; the company treats every client with equal attention. Everyone has access to round-the-clock support, as well as to analytical and training materials that can be useful for both beginners and experienced traders. Olymp Trade always aims at long-term co-operation, therefore the company tries to provide all conditions for profitable trading.

What’s best about the new Olymp Trade Forex Platform?

Olymp Trade Forex platform allows users to open classic orders for buying and selling currencies and other assets. However, the striking difference from most other trading solutions is the absence of spread. So there is only one asset price instead of two (bid and ask), and no hidden charges as a result. A trader only pays service commission, which is competitively-sized and indicated separately.

Opening a Forex position is simple: you just need to choose the direction (buy or sell) and set the trading volume. There is a multiplier (a simplified leverage mechanism) that allows you to increase the potential profit amount and expand your trading scale up to 200 times. On the other hand, risks are getting higher when you increase volumes, so it is essential to take measures to protect your capital.

There are “Stop Loss” and “Take Profit” orders on the platform, helping limit your risks in each individual position. A trader will not have to constantly monitor the market, because these orders allow to fix a profit or a loss at a certain point. And even if you forget to set “Stop Loss” and “Take Profit”, the “Stop Out” mechanism will prevent losses from exceeding deposits. And it is a remarkable feature - when using leverage, traders expose capital which is bigger than their own, and not every platform provides protection mechanisms like this.

Your trader workspace: more useful details

Apart from opening positions with the main currency pairs, on the Olymp Trade platform you can also work with commodities and cryptocurrencies. 

There are 19 indicators for technical analysis, including RSI, Parabolic, Stochastic and Bollinger Bands. Moreover, traders can use analytical materials published on the Olymp Trade website.

The price chart can also be customized: set the most convenient time frame, and zoom it in/out. There are 4 chart types: a basic line (zone) chart, Japanese candlestick, bar charts (the most popular among experienced traders) and Heiken Ashi.

For every position the “Stop Loss” order will be set by default - equal to the amount used for entering the market. But of course you can always change “Stop Loss” and “Take Profit” settings afterwards.

The company charges commissions only for opening orders and holding them open overnight. Olymp Trade customers do not have to worry about additional costs and payments.

You can access the platform through a browser, there is no need to download and install any software on your computer. Just visit the website and register from any Internet-enabled device!

What should a beginner trader keep in mind?

You should learn a few key rules before starting to trade Forex with real money. First, trading is an activity that involves high risk. So, it is recommended to assess your financial capabilities properly, and never risk a bigger amount than you can afford to lose.

Trading is not a game. It is an interesting but complex business that requires constant learning. Olymp Trade welcomes professional approach and seeks to create many convenient opportunities for education. The website offers a complete knowledge database on trading, and moreover - clients are invited to participate in webinars several times a week, where in addition to learning new information, they can have direct online communication with experienced coaches.