The stock price range is very wide and allows any trader to find an SPT that matches their price targets. On evaluating suggestions and feedback from the client, Olymp Trade witnessed a demand for simple, straightforward, and new trading mechanics. 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.

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The minimal deposit amount is $10 (or €10, if that’s the account currency), and one needs as little as $1 to open a trade. Notably, London-based OctaFX, which the RBI says is not authorised to deal in forex, was also one of the official sponsors of the Delhi Capitals team in the Indian Premier League (IPL) this year, say media reports. Ads of many such platforms can also often be seen on popular social media platforms including YouTube. 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.

Fraud happened with me on Olymp Trade

An audit of 5000 customers’ trades found that the quality of service meets the standards. Pensions to persons suffering from cancer, tuberculosis and leprosy. The ‘alert list’ is not exhaustive, says the RBI, adding that it is based on what was known to the RBI till September 7, 2022. But the rest of the features that this Trading Platform offers you are truly attractive.

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• The demo account by Olymp Trade is a complete copy of the premium account.
• Apart from educational tools, Olymp Trade comes with a plethora of features.
• Olymp Trade is an A-recognized member of the International Financial Commission which enables the platform to cover unfair trade practices up to $20,000.
• Every feature of this mind-blowing trading platform is clear and concise.
• 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.
• You’ll have to pay off a significant fee if you want to trade overnight.

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

• This online broker allows you to put your strategy into execution that often surprises you when you draw profitable outcomes.
• Every market follows a varying timeframe and you may find yourself restricted to invest in your favorite asset.
• 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).
• However, it often becomes hard for a few traders to trust IFC regulatory bodies because it isn’t that famous.
• In terms of deals and promotions, users can get a 50% bonus on their initial deposit.
• Pensions to persons suffering from cancer, tuberculosis and leprosy.
• You can choose between standard to VIP trading account to start trade.
• With the help of these consultants, you can enjoy profitable results.

Olymp Trade Trading Account Features

In some instances, says the RBI, such ETPs-engaging agents personally contact gullible people to undertake forex trading or investment schemes and entice them with promises of «exorbitant returns». Many people have lost money by trading with the unauthorised platforms, the RBI adds. Some of these platforms also claim to be regulated by overseas regulators and recipients of global awards, it had added. All these plus points draw trader’s attention towards the online trading broker. With a plethora of trading options and services, the platform is on the rise in the market.

About Olymp Trade & Accepted Countries

To stay connected to the market, download an app for your iOS or Android smartphone. Olymp Trade mobile apps have the same atmosphere of active trading and can become an essential part of a trader’s career. It is a perfect solution for those who enjoy getting predictable financial results. Fixed Time Trade trading involves buying or selling a contract before a certain date (expiration) and getting specified returns. 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.

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• However, you can also assume it a small trading tool that you’ll be carrying for all time in your pocket.
• The RBI says people can undertake forex transactions only with «authorised persons and for permitted purposes», in accordance with the FEMA rules.
• The platform runs under IFC regulation, which isn’t a reputable regulator, and that may cause a little hitch in your decision to choose Olymp Trade for trading.
• Top10stockbroker.com & Indianfranchisereview.com are websites under Medmonx Enterprises Private Limited.
• If you love putting your smart strategies while trading and always prefer multiple trading options, then Olymp Trade will surely be made for you.
• 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.
• Perhaps it’s a helpful thing for beginners, but it isn’t for expert traders who have significant capital to invest in.
• Ltd), FXall and Matching (operated by Refinitiv India Transaction Services Pvt. Ltd.) and BTBS (operated by Bloomberg Tradebook Singapore Pte Ltd.).

The company has been a Category A member of the Financial Commission since February 2016, which guarantees traders reliable service and the protection of their rights. 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. CFD is an arrangement made in financial derivatives trading where the differences in the settlement between the open and closing trade prices are cash-settled. Apart from educational tools, Olymp Trade comes with a plethora of features. The platform guides and encourages new users through recommendations. Surprisingly, Olymp Trade offers attractive deals and bonuses for its clients from time to time.

Regular Quickler trader who is doing 98% of trades

Mainly for those users who often go a little overwhelmed after seeing too much technical on an online trading platform. Trading strategies, indicators, and analytical tools are essential for a trader. All concepts, strategies, and tools are explained in simple language to ensure even the newest traders can learn everything necessary and become successful. The site’s automated assistant answers traders’ questions as soon as they appear in the education section. The company’s commission for the executed trades is minimal, and traders aren’t charged extra for depositing or withdrawing their money.

Olymp Trade – Conclusion

• Deposits can be made quickly and easily through one of For a VIP account, you must deposit the required amount (approximately $2000).
• If you are afraid of putting your money for trading via a random trading platform, you can check its licensing.
• Perhaps it’s a helpful thing for beginners, but it isn’t for expert traders who have significant capital to invest in.
• If you love putting your smart strategies while trading and always prefer multiple trading options, then Olymp Trade will surely be made for you.
• Ltd), FXall and Matching (operated by Refinitiv India Transaction Services Pvt. Ltd.) and BTBS (operated by Bloomberg Tradebook Singapore Pte Ltd.).

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.

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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 additional benefits included in a VIP account are truly unbelievable.
• The trader can also place an order and get a position opened only after the specific conditions have been met, like the time and the asset price.
• You can go with it even though you are an Android phone user or iOS user.
• The site’s automated assistant answers traders’ questions as soon as they appear in the education section.
• Also, the RBI has clarified that an entity not appearing in the ‘alert list’ can’t be assumed to be authorised by the RBI.

It should be noted that there is a full economic calendar on the Olymp Trade platform, so no important news can be missed. The trader can also place an order and get a position opened only after the specific conditions have been met, like the time and the asset price. “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. Perhaps it’s a helpful thing for beginners, but it isn’t for expert traders who have significant capital to invest in.

Which Markets You Can Trade on OlympTrade India

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. 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.

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.

Key data points

Practising on different types of trading and money management strategies will help you become comfortable with them before risking your money. Trading the difference in currency rates, metals or crypto assets value us like traditional commerce. It should be noted in the forex market, you can open a short position (when you expect the asset to go down in value) and profit from the decline of the quotes. 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.

Open a Forex Trading Account Now! – Fill up the Form

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. binary options trading India Others are i-Stream (operated by ICAP IL Indian Pvt Ltd), TEX/SEP and 360TGTX (operated by Three Sixty Trading Networks (India) Pvt. Ltd), FXall and Matching (operated by Refinitiv India Transaction Services Pvt. Ltd.) and BTBS (operated by Bloomberg Tradebook Singapore Pte Ltd.). Top10stockbroker.com & Indianfranchisereview.com are websites under Medmonx Enterprises Private Limited.

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Ensure that the platform can close your account if you haven’t maintained a sufficient balance in your account. Also, the market situation can influence the fee structure set by the broker. You can go with it even though you are an Android phone user or iOS user. Just visit the mobile app store and download the Olymp Trade app. Today, the brand continues to evolve, and the awards that this online trading broker has achieved witness it.