Forex Brokers in South Africa
The Olymp Trade online trading platform. Since emerging into the web trading markets in 2014., they need been awarded numerous industry forerunner awards and are proved right by a 25,000 + traders daily. As of 2016, Olymp Trade has been classified as category A broker of the international Financial Commission. Their indemnification fund is €20,000. Read more about this interesting broker in our Olymp Trade Broker Review.
Olymp Trade Account Features
А trade amount starts from 0.01 lot when working with MT4. the selection of currency for trading is formed during the account registration process. Customers use an equivalent account for trading in any mode.
The company introduced a system of statuses for its customers. it’s a sort of development ecosystem for every trader. At the instant , there are three sorts of statuses available: Starter, Advanced or Expert. These statuses provide traders with a versatile system of trading conditions.
A trader gets a basic status once they make the primary deposit. It enables to form up to 82% of an investment in profit and access a free educational program .
To get a complicated status, one should either make a deposit of a minimum of $500/€500 into one’s account or gain 1500 experience points (XP). With this status, customers are ready to make trades with a profit yield of up to 84%, get analyst advice and use 7 pre-configured strategies.
To become an Expert, a trader must accumulate 5000 XP or invest a minimum of $2000. With this status, the payout rate increases to 92%, and in some cases to 100%. Customers of this group get access to risk-free trades, exclusive trading signals, and private training.
The Olymp Trade platform users trade two modes: Fixed Time Trades and Forex.
They can trade quite 80 assets—popular currency pairs, shares of international companies, stock indices, cryptocurrencies, and commodities. The list of assets available for trading is consistently expanding.
The Olymp Trade platform is straightforward to navigate and features a user-friendly interface. the most a part of the screen is occupied by the charts, and there’s a folding panel of trades and orders to the proper of them. To the left of the charts, there’s a Help menu, which you’ll use to contact the support team, signals for Fixed Time Trades mode, and tutorials. you’ll find the chart settings, indicators, and time frames right below the chart screen.
Each element is meant during a bright color, in order that a trader can quickly understand the way to use the platform albeit they need never traded before. The platform interface is consistently improving. for instance , now a trader can create a panel of their favourite assets, and therefore the settings are moved from a user account to rock bottom left corner of the screen.
The browser version of the platform is optimized for mobile devices. additionally , the broker has two mobile apps (iOS and Android), also as desktop applications for Windows and macOS. This makes trading available for all platform users and allows them to trade literally on the go using any devices. and eventually , the broker’s clients can use MetaTrader 4 software.
The benefits of Olymp Trade include developed support services and improved customer interaction. The platform interface is out there in 19 languages. you’ll contact the support team via hotline, email and online chat. And in fact , there’s an in depth FAQ section, which may be a great solution for those traders who aren’t wanting to communicate with the support team or want to seek out answers themselves.
As practice shows, communication with the support team via chat is quick and informative. The Support team members don’t attempt to force clients into registering or making a deposit, they simply provide the required information.
A huge educational database is that the broker’s serious competitive advantage. One can access it through the assistance menu. Here, all registered traders can read many articles and watch training videos. One only needs quarter-hour to require a video course for beginners. And this is often just a neighborhood of the tutorial content available to the trading platform clients.
Traders can get useful information from daily analytics and weekly reviews. Analysts hold webinars for the platform users on a daily basis. Individual consultations also are available.
Banking with Olymp Trade
There are five major ways deposit to and withdraw funds from Olymp Trade: bank cards, e-wallets, bank transfers and cryptocurrency. there’s a singular list of payment and withdrawal solutions for each country.
As a rule, an invitation is processed in 24 hours, but it also can take up to five days. Customers don’t need to buy making a deposit/withdrawal; the broker uses own funds to hide the commission amount.
Funds withdrawal may require account data verification, i.e. personal verification and their payment means data.
Verification protects platform customers from cyber-hacking attempts. The FAQ section contains all the knowledge associated with the verification process, including an inventory of the specified documents.