• Company name:

Olymp Trade – Smartex International Ltd

  • Registration Address/ License:

St. Vincent and the Grenadines

Is Olymp Trade a scam or legit broker?

No, it is not safe to trade with Olymp Trade. Olymp Trade is owned by Smartex International Ltd which is an offshore company registered in St. Vincent and the Grenadines.

St. Vincent and the Grenadines is notorious for its practically absent requirements and regulations. Due to the setup cost is low and it does not regulate forex trading. Therefore, it became an offshore zone for shady forex brokers such as CapitalXP, Welkron and more.

The company claims to be one of the fastest growing companies that deliver access to trade to the client at any level, increasing its trading volumes daily and currently closes around 32M trades per month. Moreover, the broker received numerous awards, the world industry recognition for their services, options trading platform, fast growth, and innovations.

Olymp Trade Review

Nevertheless, the company operates without a proper license from the industry authorities alike FCA (UK) or ASIC (Australia) that protect clients and delivers necessary regulation to the service providers along with the convenience to the users and, of course, their investments.

According to the website, Olymp Trade a membership in the international Financial Commission (FinaCom). Even though the FinaCom is a well-respected organization, it is a self-regulatory organization which cannot guarantee the safety of the trading environment and does not regulate the daily operations of the company, therefore can’t provide necessary protection to the client.

From our source, it costs €24,000 per year to become a member. However, and there is no handbook or guidelines for brokers to run their business. Therefore, there is zero protection for traders. You can read our detailed article about the risk of trading with brokers from St. Vincent and the Grenadines.

We advise all investors and traders to avoid Olymp Trade and other brokers from St. Vincent and the Grenadines. Traders should trade with well-regulated brokers such as UK brokers or brokers in Australia and reliable brokers such as FXTM and FP Markets.

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125 responses to “Olymp Trade”

    • Maybe you just need to learn to trade? My first year was in red, but I wasn’t complaining, I was training. Now I make enough money, withdrawing money on regular bases, and the company doesn’t complicate it. Although I withdraw quite big amounts. And they started to cheat on you for some reason? How’s it look?

    • So many times I’ve heard this. There is something wrong with the market data! Broker is a scammer! Someone is watching my trades and makes the market go in the opposite direction. You know what? Bullshit! As one famous trader said: “You lose money not because your mom used to spank you in childhood. You lose money because you either don’t have a trading system or don’t follow it.” So stop accusing Olymp. Better work on your trading style. Good luck!

    • Why you said that sir ? As far as I know, Olymp Trade never cheat. All my profit they paid accordingly. And if I have any issues, the customer support is always available to help me out. The trading chart reading is identical ti tradingview. So may I know at which part that they cheat?

    • You should start with basic trading knowledge like technical & fundamental analysis or simply go for online trading courses like stock market & forex trading .if you don’t wish to spend a lot … that been said …. Even after learning the basics practice with demo account .. To over come that anxiety and fear of losing your trades you’ll have to trade with real money in live account … I don’t know about others but my experience with them has been very very good ….. You can make consistent profit you just have to learn everyday … & Most important you don’t have to make mistakes to learn from them …. You need risk management and a strategy ….Your strategies not other’s ….

  1. Olymp trade cheats. I registered with them and I notice their platform is programmed to cheat. You can never make money with Olymp trade

    • How did you manage to notice that? Is there some kind of a red light on the platform that starts flashing and beeping: warning, warning, someone is earning money here!? I’m sorry, but if you really noticed that platform was meant to rip off the customers you would have provided much more details rather than just saying “they cheat”. Your comment sounds more like some competitor’s provoсation.

    • Well well… I made another withdrawal a couple of days ago, and it’s all OK. In fact, I’ve been doing it recently on a monthly basis, so if it’s a scam… well, at least I’m definitely not affected by it 🙂 Am I the only one who earns here, huh? Are you guys all losing here, or what? 🙂 But I guess I’m not doing anything special, just trading with a strategy, managing the risks, and all the stuff… That’s quite enough to make money on here, really 🙂

  2. I like the Olymp Trade platform. It is really convenient to trade on, especially with technical analysis involved. I haven’t seen any other trading platforms with such amazing service of technical analysis as here – and hey, that’s even for free! For quick analysis, you might as well use the main platform – it has all the necessary charts and indicators, but for some serious analysis you might want to switch to the platform specifically designed for this. It offers like hundreds of indicators and a great many of other tools, charts, and all this stuff. Personally I’ve never failed to find the necessary tool there.

    • অনেক ধন্যবাদ আপনাকে। আমি ও চাই আমার ভাগ্য পরিবর্তন করতে। আপনার সাহায্য কামনা করি।
      তপন চন্দ্র শীল।

    • LOL, I really wonder what you could have told him to freak him out that much? :))) If you open the chat once again, there will be a different agent – you might set out your compaints about that Ibrahim fradrack to him. Or just ask the support to punish that rascal.:))) But actually, you’re pretty lucky – I always get exclusively polite and helpful agents! So hella boring, I can’t even find fault with anything…

  3. Looks like a scam. Everything works fine in demo, as soon as you go live everything turns to shit. Chart freezes, prices zoom the other way to impossible levels so you can never end in the money. In fact prices just zooms the other way and freezes moments after places the “trade”. Its all fake.

    What do we do now? How do we get out?

    • What do you mean – “How do we get out?”? And who’s actually forcing you to stay? If you don’t like it, don’t trade, I don’t see a problem. Trading is really not for everybody – some people can learn and gradually go into the black, while others give up at the earliest failure and start screaming that it’s a scam and one will never earn here. It seems that you belong to the second category…

      • You mare definately right, when.people flock in with excitement and know underdtsnding soon then vall it a scam, just fuckoff and fins descent dailly job. My advice is make money and withdraw and submit all verification and then wait for for your withrawal and then you can come here and say scam or not

      • Then just say Mr. Manil ; what is the actual process of trading? and if you are able please giving a prrof to us that how much money income through this? This will help us to trading in this platform.. can you help ?

    • hi there i face the same problem like the chart freezes, prices zoom the other way to impossible levels and support live chat box that doesnt open when you click, and when you call the staff they couldnt answer all your questions and they pass to one another arrggh!!! bad experience for me. I give up with olymptrade…really i loose a lot my money here but i still stay with them hoping that things are going to get better but too bad… they have done so well with the platform upgrading and so on but they cant secure their plarform. i already request for closing my account.

  4. Unfortunately, I m still learning the process. I m yet to understand everything, but I have great determination to do so. So far, I have been trying both sides-the demo and real account. I believe the platform is good for those who are patient and willing to learn. I strongly believe that given the risks involved in trading, one has to practice enough for the process. Nothing good comes on a sliver plate!

  5. Everywhere page I open that has to do with binaryoption or forex investments all have great customer reviews but when I tried investing with binaryoption, from plus option, to binomo to IQoption, I lost a lot. I still have someone helping me with my trades but I keep losing and now they want me to invest more money. I need to speak with people who have invested and had similar situations. Please reach out to me on my username

  6. i have never experience any of the negative mentioned in most of the comments
    i have tried Olymp trade and made some money and also withdraw the money withing three working days,

    i am looking for a winning strategy to make money on the site

    Regard

  7. Olymp trade has been operating for years and I am surprised to hear that they are a scam broker. Most new traders feel losing a trade or all their investment is foul play from the broker’s side.I will believe that plump trade is a scam broker if someone was not able to withdraw their profits that they have made with the broker.

    For traders who are still struggling to make profits in trading, I recommend you invest more in your education rather than heading straight for the markets.

    There’s a book that changed my life when it comes fired trading, titled “Price Action the ultimate Indicator:Money Never Sleep by Fillemon Helondo” It comes pricy but you won’t regret your purchase.

    I wish you a happy trading all

  8. Today it’s almost a year that I’ve been trading on Olymp Trade platform. So it’s time to sum up:) Concerning the pros, I can say this platform is really classy – I mean, it is convenient, with a user-friendly design and all that is needed for trading; and at the same time, it doesn’t contain those kinda “”professional”” things that just confuse you but never-ever come in handy at all. I guess the payout rates on deals are also pretty high – you know, I occasionally watch reviews of other brokers and never saw rates that would be considerably higher. In general, the rates of competing companies are either lower or roughly the same. Besides that, I really liked the training. Attending webinars from the very beginning was cool, I learned much useful material. Can’t even imagine how much money I could’ve foolishly blown in the very beginning if those webinars hadn’t taught me the basics of trading 🙂
    As for the cons, I’d note only that you have to withdraw money in the same way that you made a deposit previously. You see, I made a deposit with an e-wallet, for I didn’t really know where to apply that money anyway. At the same time, I wanted to withdraw money directly to the credit card, but this isn’t the way it works. So now, I’ll have to make another small deposit, this time with my credit card. It’s no big deal actually, there are no commissions for that. Just…a bit inconvenient, you know.

  9. I am new in trading but i use to play iq demo it was a little bit complicated for me i then tried olymp trade i found it simply and interesting i made my first deposit and started to trade for really money i lose my money like i nerver practice but i didn’t gave up i came back with new strategy i made money in olymp trade and i tested my first withdrawal i was shocked and ver happy to receive my money .the process of withdrawal took two days.but guys if you say olymp is a scam you are disappointing me i still get money in my account there

    • Don’t worry, Mafika. People losing money on financial markets often blame third parties for own mistakes. Their broker for example. You’ve learned your lesson, developed a responsible attitude to trading, so don’t worry about OIymp’s critics. Just remember, your success is the product of your own discipline and persistance.

  10. I’ve been trading with Olymp Trade for more than a year. In general, it’s all fine. Of course I don’t always manage to receive profits, trading in the red is not such a rare phenomenon. At the beginning of my trader path, I did lots of silly mistakes that I could’ve easily avoided 😉 However, I’ve learned from my own mistakes quite a lot, so it helped me get where I am now. At the moment I’m trading in the black and gradually growing my capital. So far I’m not planning to leave the platform, especially that it is also developing and getting better. Much like my trading skills, naturally 😉

  11. Iqoption is scam platform. They manipulate the trendline if you are in profitable position in binary option.I donot know about olymp trade. I just created account

    • This article is not about Iqoption XD
      Be careful what and where you write.

      OLYMP TRADE is a good trading platform. I have been using this for 2 years now. If you understand that this is not an easy way to make money, then you will earn. If you want to make money, you must have analytical approach. If you do not have analytical mind, then I advise you to forget about making money on the Internet. You will lose your money.

  12. I recently learned about OlympTrade platform, started to read the reviews and noticed, that there are many contradictions in reviews. Then I decided to try trading on the platform just for myself and find out what’s a lie and what’s true.
    Now I can share my impressions.
    You can trade on the platform through the mobile application or the computer. The mobile version has many tools as well as a full desktop version, I think, they fully substitute MT4.
    There is a separate window for technical anaysis, there is a widget of free signals, which I liked a lot. There is a separate training section for those, who are just starting. I watched a few webinars and was satisfied with it! If I came across something similar in the beginning, I think, I could succeed earlier.
    After watching a webinar, you can try the strategy on the demo-account right away, therefore the theory always will be supported by the practical part, and it will bring some good results.
    And after you will be trading and receiving the income on a demo account, you can try to create a real one by depositing just 1$. Making a deposit is a simple and clear process, the money will be accepted in a few minutes. The withdrawal is also fast, the broker promises to withdraw the money within 24 hours, but I received them in approximately a few hours.

  13. I’ve learned about Olymp Trade a few years ago. Back then my brother was passionate about the trading on the market and showed me this platform. I forgot about Olymp for a year, and half a year ago I remembered it and decided to test.
    For the beginning, I created a demo account and started getting to know the platform. Then I found the community of traders on facebook and started to communicate with them at the same time learning their trading strategies and some small lifehacks.
    At the same time, I was watching different webinars and read much information about the market.
    Two months ago I switched to the real account. And yesterday I made my first withdrawal. I didn’t have any problems with it, everything was very fast.
    So I’m happy with the platform and recommend it to all!

  14. I have a demo account in Olymp Trade. I watch strategies in youtube and try in demo. I think this platform is very easy when you learn how to do it first before starting in a real account. I’ve plan to start trading this year. May God bless us all!

  15. I hesitated to write a positive review about my broker, because.. oh well, I’m just lazy. But you see, a friend of mine has just lost his monthly salary equivalent because the broker he used (may his name be excluded from Google cash forever) cheated with market data. There was a huge spike which swallowed half of his deposit and sure enough you can’t find this spike anywhere else. Neither at Trading View delayed data, nor at other data providers. I’m sure this broker did this before too, it just wasn’t that obvious.
    I’ve always been telling him to switch to Olymp Trade but he never listened. So I’m just trying to prevent as many people as possible now from the same mistake my friend did.
    Olymp offers decent spreads and commissions policy and it doesn’t swallow all of your profits if they happen to occur.
    Their market data is honest
    Funding accounts is easy
    Tons of instruments to work with
    Withdrawals of profits go smooth (you’ve been waiting for this one, ha?)
    Trading platform is stable and convenient
    Do I have to go on?
    You see, lots of people get stuck with their trading simply because their broker does not allow any profits to come in. There are tons of measures they can take to prevent you from profiting and you will never know!!! Discipline, emotions, proper systematic trading… yes, people often lack this but success on the market is not limited to these things only. Broker is your nearest partner in this journey to financial freedom, so you’ve got to choose this partner thoroughly. Please don’t run into same mistake my friend did, wasting months or even years of your life fighting with the windmills your broker puts on your path. I know for myself that Olymp is my dear Sancho Panza and he never let me down. I’m not telling you to go with Olymp only. I just wish yall to find the partner you trust as much as I trust mine.

  16. Can’t say it was easy, but I did it! I’ve withdrawn my first profit from Olymp Trade. It all looks very easy when you watch these commercials or even trading tutorials. In fact trading digital options is a difficult job. You have to be prepared to some failures before you finally learn to identify the mood of the price: where it wants to go, what is the tendency. I tried following some other people’s advice but it never worked out well. Only after I learnt myself to trade thoughtfully and pay enough attention to price studies, then only profits came in. I’ve started with $100 and withdrew my first $300 finally last week. For someone this amount sounds ridiculous, For me this is the first step on the path to financial freedom.

    • That’s nice bro please am new into it pls would you help me on how to understand its work WhatsApp +2349035189557 or email me @israelpraise9@gmail. Com
      Thanks so much.

  17. They are not truthful, Indeed after trading with them for some weeks on the the real account. they got up one day and denied me access to my account. I had written to them without any response

    • First of all you need to find out whether you’ve completed the verification process on your account. This can be the problem. Once verification if completed, your account will get unlocked and you’ll be able to withdraw profits anytime with the verified payment method. You’ve got to pay attention though,that its only possible to withdraw the money using the same payment method you funded your account with. This policy has something to do with the anti-money laundry act.

  18. In my opinion Olymp Trade has got the most advanced trading platform among all online brokerages. I know many of them use MT4, but I absolutely hate MetaTrader. OT browser-based trading platform has got charting tools, indicators, different timeframes and you can also choose the preferred bar types including Heiken Ashi bars. Pending orders and stop losses are available too. Simply love it!

  19. By the way it sounds and considering the long list of the brokers you’ve tried working with it occurs to me that the cause of the problem lies not in the field of one or another broker’s competence, but in the trading system you use. Well, most likely I would not be mistaken if I said there is NO trading system in your approach to digital options market. You can’t start making money with guessing where the price will go. It’s all about statistics. If market conditions are such, then with 65% probability the price will go up. Something like this. You don’t have to guess correctly 100% of the time. You don’t need to guess at all. You just need to exploit the statistical advantage.This is the only path to be successful on the financial market. If you don’t know how to build your first proper strategy, then try some of Olymp’s educational programs. They will teach you the basics and once you know your edge, you will transform one of the strategies to suit you best and bring you more money.

    • If you try, you will realize that this is stupid slander. The company is very reliable and has a very responsive service. I had several problems with the company, but everything was resolved quickly and Olymp Trade proved to be the best. Of course, sometimes problems arise, but the main thing is that the company is working to resolve them. Many people faced with a problem do not try to solve it calmly, but begin to pack up and look for various slander about the company.

  20. I have been practicing with the demo account and watching staff on YouTube to learn. I can say I am improving. I have given my self a Target to earn a month. If I can find a strategy..through practise that will maintain this amount for 3 months, then I will trade with the real account. Its better to try things out to know for sure.you can base money decisions on hearsay.

  21. Convenient platform, excellent support that answers all my questions fast and in a professional manner. I like the variety of instruments that they’ve got. I wish all of these instruments had same payout rates, but oh well.. Money withdrawals are fast once you complete the verification process. Usually I get the money the same day I do the withdrawal request.

  22. Olymp trade is great some dumb fools don’t just get it have been trading for two years and I earn $800 everyday of my life I own my house, am a cars owner and am happy thanks to olymp trade

    • Hi mate, I’m trading with Olymp for more than 4 years, so may suggest it from my own experience. I’ll briefly describe you the main pros and cons. Pros include regulation by Finanaclial Comission (Finacom), if you will lose some money cause of brokers fault, this regulator will give you a compensation. Also, Olymp is fast in terms of making deposit and withdrawing money. Deposit usually takes around 1-2 min and withdrawings take around 24 hours. There is also good trading platform, I find it easy to learn it, it’s quite native. However, there are also cons, including comission fees for opening the deal. I understand that it’s pay for excellent service, but I think you should know it. Overall, my experience is only positive and during 4 years I never face any problems and made more than 35 withrawals.

  23. I am not going to condemn about Olymp Trade because to be honest , I did gain some profit using this platform. This platform is not perfect but I think it has sufficient features that the traders especially the beginners need to start the trading.

    However with the latest update that they just did, I really feel turned off because there are several features that are not functioning well.

    I really hope that they will change it back to the previous version which is way better than this current one.

  24. Trading is an area where warranties are needed. When I chose a broker, I was looking for a company with a reliable reputation and membership in an internationally recognized regulator. Olymp Trade is a member of the regulator of the International Financial Commission (FinaCom). The regulator is very important if you trade in excess of $ 500, as it provides deposit insurance. I’ve never needed this, but the essence of insurance is precisely what would act in the future. Of course, you can choose an incomprehensible broker that exists for a couple of months and does not have registration in the regulator. But if you have any problems, then you will be left alone with them. Olymp Trade protects its customers, if you have a dispute with the company, you can always contact the arbiter and resolve it in the correct order. In order to better understand this, you need to know that if problems can arise, then due to technical failures or errors of company employees. And if this happens, you can always solve the problem with Olymp Trade or FinaCom without any problems.

    • Oh-ho-ho, have you got any proofs? Or you just plaming for nothing? I’m trading with Olymp and it’s reliable broker, that never delay withdrawals. Moreover, usually I withdraw money at least one time a month. And I wait around 18 hours each time. If you have proofs – you’re welcome to show it. However, if you just want to hate trader, don’t write anything. There is the only reason, that can explain your bahavior: you lost money gambling and now blame Olymp Trade

  25. For me, trading is a hobby and I trade exclusively in a mobile application. Options trading on the Olymp Trade platform is also available through a mobile application that can be installed on any device. The application works with a single account in the company and has a convenient interface. Yes, the company had to cut some functions in order to achieve smoothness and speed, but at the same time the platform works very economically and does not discharge the device. If you don’t need all the indicators, then the Olymp Trade mobile application is very usable.

  26. I am interested in olymptrade no matter what is said about the broker. I have done the demo trading for a long time and have read a lot of testimonies so I can’t go back.
    But I can’t make a deposit b/c I don’t understand how to, since I have not done it before. I need help. Which method did you use. I need help please.

    • Dear Manson,

      We would still advice you to choose from the Regulated brokers https://55brokers.com/forex-broker-reviews/. Olymp Trade is NOT regulated, therefore, you might just never get your money back after investing with this broker. That’s the difference between the demo account and the ususal one, since you do not trade your own money with the demo account.

    • Deposit methods vary from country to country with Olymp. If you press the deposit button in the menu sections of a trading platform, you will be automatically redirected to the page with all the payment methods listed there. Just choose the one you prefer and follow step by step instructions. It took me less than 5 minutes to deposit via credit card. The account balance showed up in a platform immediately and I could start trading right away.

    • Dear Chidi,

      You can try contacting your personal manager regirding your withdrawal process. If there is no reply from the company managers, you can try reporting to your local authorities.

    • Just go to olymptrade.com and fill in the simple form. You don’t have to deposit any money yet. In fact i recommend that you spend at least 3 months in the free demo account. Sharpen your skills , understand the usage of indicators etc…

  27. Compared to other options i really think olympic trade is reliable. You gotta understand this simple business modal, You lose or win they are gonna make money from each trade you do. Even if you win they are gonna take a certain % of your money. So why do they want to scam us.
    but one thing i have noticed so far is all the reviews (positive) are company made to attract customers. But even if you invest, start with demo account and learn the tricks. It doesnt mean that if you win 9/10 in demo, you will surly win 9/10 in real account also.Real account is a different scenario. One thing i gotta say is dont let ur greed rule you. start with small amount and slowly progress.

  28. I was introduced to olymp trade by a friend of mine who described this broker as reliable and profitable and generally said that I would never get into any technical hitches here. Unfortunately, now it is common with most brokers, so it became a serious indicator for me. That’s how it happened, for 2.5 years I have never faced any serious difficulties or problems in the functioning of the platform. It is very high-quality and attractive, has a large set of tools with which you can implement trading on any strategy. And there is always a customer support service, which can help you if you have any questions. I am pleased with such attentive attitude to clients.

  29. Olymp Trade is reliable broker and I am enjoying trading on olymp trade because here I am able to trade all my fav trading assets its good trading platform with some good features

  30. Pls I need your advise…. I want to deposit into my account on olymp trade but I was told that it doesn’t work like that, that I’ll have to pay to an agent so as to invest with them first before she can deposit into my olymp account….. Pls is that true, I need to know that I’m taking the right step…

  31. I have been unable to withdraw from my Olympic trade account for almost six months. Without receiving any alert both on my bank or Olympic account?

  32. This broker is good from different points. Olymp Trade can be called universal broker, that offers not only one or two cool features, but is good in all regards. Working with Olymp Trade is beneficial both for newbies and experienced traders, as I started with Olymp as newbie and now, when I’m making serious money trading, I can say that Olymp Trade is still beneificial and offers one of the best services within the whole market. For those, who are only in the beginning of trading way, Olymp stuff designed great and native educational system, that include blogs, helpful tips in trading plarform and webinars. And, what’s important, all these things don’t repeat each other, but deal to your understanding of trading. Olymp offers one of the lowest minimum deposits in the market, only 10 dollars, that’s extremely low. For experienced traders there are VIP accounts and other benefits, so I don’t think I should change broker. Olymp introduced its own trading platform and it offers fast orders execution, there are only minor lags sometimes. The only disadvantage I can mention is that you can withdraw your profits only with the same method, you used to make a deposit. Olymp support team explained me that’s cause of security reasons, but sometimes it can be really inconvenient. On the other hand, the minimum deposit is 10 dollars, so you can make this deposit to add payment method to withdrawal options.

  33. Man here in rwanda it is very difficult to create dollars account who.can assure me my money’s safety (trustworthy person) and i deposit my money on his account

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