Does OlympTrade Deserve To Be On The Top?
Binary options trading online have long been an Internet phenomenon, and the worldwide craze for it hasn’t really abated yet. Today, South African traders have a glut of options to choose from, and making that choice can be just as complicated as figuring out a proper trading strategy. But OlympTrade makes a convincing case that it deserves a top spot among your various options.
Here are some reasons why:
OlympTrade Has a Sterling Reputation
Reputation is pretty much the most important factor of them all, since the binary trade industry has been recently hit by numerous reports of scammers operating in the industry. That’s why it’s just sensible that you need to find a trading platform website that’s regulated and licensed by a regulatory organization that monitors companies that provide these financial services.
Olymp Trade is licensed as well, and it’s part of the international Financial Commission. Membership in this group is only granted to those companies who have secured a consistent record of honest and excellent services for their clients. This group even has a compensation fund for up to $20,000 if you’re been victimized by fraud by one of its members. If you have any conflict with Olymp Trade regarding your account, FinaCom can help resolve the problem. You can also contact FinaCom for any other additional info you may want regarding Olymp Trade or any other member trading platform website.
That’s why Olymp Trade has 370,000 members, who collectively have received payouts totaling more than $20 million. The site also offers excellent customer support, as it has more than 20 specialists on hand to provide assistance.
It should be obvious by now to you that binary options can be seen as a somewhat risky proposition. Yet Olymp Trade offers a lot to mitigate those risks. One way is that they don’t have an excessively high minimum deposit amount for you to indulge and join in. You can just fund your account by $10, and you’re good to go.
The money you risk on each trade also doesn’t have to be all that large either. You can risk as little as just $1. That can make your $10 last a bit longer and so you can try out your techniques to see if they work.
In fact, you don’t even have to use real money to see if your strategies work or not. Instead, you can use the demo account where you have $10,000 in virtual money to play with. This gives you ample ammunition to try out various tactics that can help you make the right calls on a more consistent basis.
With this demo account, you can also familiarize yourself with the web-based platform. There aren’t any programs to download for you to make trades right away. You only need to register and you can start with the demo account immediately.
Hopefully you take some time to ready yourself with proper education before you dive headlong into binary options. Olymp Trade does a remarkable job in providing the knowledge you’ll need for you to make the right calls more consistently.
- Here you can take a 9-step course on the basics of binary options. You’re given an overview of how it works and how the Olymp Trade platform operates. You’ll learn about making proper charts, recognizing trends, doing various types of market analyses, picking the right trade time, and even the basics of risk management.
- Trading strategies. Other courses feature a look at more advanced analytical models. Here you get a closer inspection of at least 11 types of strategies you can use to make the correct call. You can make calls based on news reports, on movements of commodities like gold, and algorithms based on supply and demand.
- Webinars. You can watch these webinars live, but you can always check the archives where past webinars are saved. Subjects of these webinars include multilevel analysis, the psychology of money management, the use of technical analysis, and how trade and economic news can affect asset movements.
Here you can find trades involving the most popular currency pairs, commodities, stocks, and indices. The list of stocks here are made up of famous brands including Facebook, Google, Tesla, Boeing, Apple, Coca Cola, Visa, Starbucks, BMW, and Nintendo.
Withdrawing Your Money
Here you can withdraw as little as $10, and there are no fees involved in getting your money back. You just need to get to your dashboard interface, select “withdrawal” and the withdrawal method (e-wallet or your bank card or credit card), and the amount. That’s it.
You then wait for 5 days at the most, though in all likelihood you won’t have to wait that long. Up to 90% of all withdrawal requests are processed either within 24 hours or by the next day.
Making a Profit
This is another area in which OlympTrade excels. You always know how much are set to earn well in advance by the expiry date. In some cases, you can earn as much as 93% of the amount you invested.
You can even close a trade early before the expiry date. For Turbo trades (less than 15 minutes), this is an option you can consider when you think you’ve made a mistake. If you cut your losses as soon as possible, you can get back 60% of your investment which is better than losing it all.
You can also close a trade early when the trade is for longer than 15 minutes, and this time you can even secure your profits early. You can get back a net profit of 20% at the most, if you think that the trade is about to reverse direction.
Everything you need in a worthwhile binary options platform is right here. The most crucial features here include the membership in FinaCom, the easy way to join, the comprehensive educational resources, the demo account, and the easy way you can take your money back to your bank account. It’s a great option especially for South African traders who need reassurance and educational resources for binary trading.
- Licensed Binary Broker
- Demo Account Available
- Small minimum Deposit
- Loads of assets to trade including cryptocurrencies
- Good reputation