Binary options are classified as the main instruments of the financial market. They are convenient and perfect for those who are just taking steps in this direction. An option is a contract that is concluded between a trader and a broker. In the case of a correct forecast, the trader makes a profit or does not get anything if the assumptions turned out to be erroneous. Compared to a standard purchase of a currency with an emphasis on its appreciation or depreciation, an option is a rate of a specific amount of funds for further growth or further decline of an asset.
What is the convenience of trading binary options for beginners
Binary options are an excellent trading tool for beginners of the foreign exchange market, due to their simplicity. Many brokers, in particular, such as Olimp Trade, reviews of which encourage cooperation, offer significant assistance to their clients. This is not only educational materials, but also the supervision of trade, expert support. Many companies offer high-performance signals that tell you what to do when a favorable market situation develops. The tool, when used correctly, is able to bring decent profit.
Olimp Trade is a good options broker
One of the many brokers that deserves attention and respect, offering access to binary options trading, is Olimp Trade. Reviews about it to a greater extent have a positive connotation, but there are also negative comments. Let's figure it out in order.
The company is owned by two companies: Frandom Holding Ltd. and Smartex International Ltd. Professional participants in the foreign exchange market draw attention to the fact that Frandom Holding is located at the same address as the representative office that owns the IQ Option broker well-known in the foreign exchange market.
The emphasis is on the fact that if there is a disagreement between the customers and the company, they will have to go to court in the Seychelles, since it is under their jurisdiction that the enterprise falls. At the moment, there are no complaints about the company, and the number of negative reviews is very limited.
What can be judged based on the location of the company
On the official website of the Olimp Trade broker , reviews of which present it on the good side, all information is presented exclusively in Russian, which suggests the broker's actual location in Russia. Moscow phone numbers allow you to draw your own conclusions. Business owners are standard offshore companies for optimizing profits. Talking about whether a good company or a bad one is worth cooperating with it or not is too early due to its small age. The official portal was opened only in 2014. In fact, a broker is an offshoot of a well-known company with a good reputation, IQ Option, which, having opened a new representative office, simply moves towards expanding the list of services and developing the trading range.
What attracts attention
It’s too early to give an assessment based on what Olimp Trade reviews say. Due to its youth, the broker does not yet have a sufficient number of clients. However, people who have just joined the enterprise’s clients note very democratic entry conditions and the friendliness of the trading platform itself. Based on the loyal partnership conditions, we can say that in the near future the client base of the company will only grow. As part of the Olimp Trade representative office, the trading platform is fully Russified. The opportunity is available to trade in euros, dollars and rubles. You can open a demo account with a deposit of 10 thousand virtual dollars or rubles. The minimum starting capital is from $ 10 to 350 rubles, which makes the partnership accessible to most beginners. The minimum transaction size is 1 dollar or 30 rubles, which is pleasantly pleasing. A huge amount of training materials has been collected on the site, professional analytics and bonuses in the amount of 30% to 100% depending on the amount of replenishment are presented. But the most basic thing that is extremely rare among brokers is the withdrawal of funds, which is carried out without a commission.
What traders say about uncommissioned withdrawals
How efficiently and quickly the broker carries out the withdrawal of funds, this is almost the main parameter for choosing a partner by a trader. Due to the bankruptcy of many similar enterprises and due to the freezing of numerous payments, the issue remains relevant. It is problematic to say how well Olimp Trade is withdrawing money. A small number of clients do not allow you to see the real picture.
Based on the available information, some people talk about a flawless and clear withdrawal of funds, while others talk about problems. The truth is somewhere in between. Market experts draw attention to the fact that the number of payment systems within the project is very limited: Visa and MasterCard, Yandex money, Neteller and Qiwi. With such popular payment systems in the world as WebMoney and Moneybookers, partnerships are not supported.
Trading Instruments
Only the most popular currency pairs, gold and silver, are what Olimp Trade (binary options) offers. Entrance to the site and access to trade is opened through a simple registration form. You can meet numerous reviews with a request to expand the range of offers and opportunities. As an option, two types of development of events can be considered. Either the company is not going to linger on the foreign exchange market for a long time, or it is aimed only at beginners who prefer forecasting the dollar and the most popular precious metals.
Contact broker
Olimp Trade broker - a divorce or not, it is definitely impossible to say until a gross violation of the partnership agreement or a complete cessation of payments begins. At the moment, you can only pre-evaluate the work of the company. Customers of a company, leaving their reviews, often mention in them ways of communicating with company representatives. You can contact support if you have any questions in just a few basic formats. Once your personal account is opened in Olimp Trade, you can use e-mail, the solution to which will not be lightning fast. Online chat is available (many broker clients speak out with limited indignation about time). You can contact the finance department using a standard phone number. There is still a free line, however, as traders say, calling on it, you have to wait several hours. We can talk about neglect of customers and the inability of support to service a large number of traders with a minimum deposit of $ 10.
Trading platform deserves special respect
On the Olimp Trade.com project, the platform is, according to many customers, one of the indisputable advantages. As a workplace, it determines the success of trade. Beginners talk about the convenience of the program and the absence of any difficulties when working with it. Pleasantly pleased with the majority of the ability to hedge risks, or, in other words, the cancellation of transactions. If the value of the asset is not directed in the direction the trader expected, then he has a certain period of time during which he is able to sell the option to the broker at a certain price. It will be reduced due to the approach of the end of the transaction. Functionality is available within 75% of the time from the period of transaction activity. The element of insurance of funds is not available at all brokers. This guarantees the popularity of Olimp Trade trading instruments (binary options).
To summarize
The relatively young, but already prosperous company, although, according to customers, has some drawbacks, has not yet made global mistakes. Soft and flexible partnership conditions determine good prospects for Olimp Trade. Binary options, reviews of which are very versatile, in this particular case can become the basis for making good profits. There are no reports that the company does not pay. This is already a good indicator of reliability. It is worth paying attention to the lack of a regulator, which, according to the majority, will be decided in the near future. Attractive trading conditions and market access for beginners - this is what the Olimp Trade broker emphasized. Binary options, entry into the market for which is simplified as much as possible, are available with minimal commissions when trading, as well as when depositing and withdrawing funds. The only cardinal “but” is the large spreads that can really negatively affect the decision on partnership.