Olymp trade is one of the biggest names in the binary options trading scene. Olymp trade has been providing binary options brokerage services since 2014. That makes it one of the most impressive modern era binary options brokers. Olymp Trade has managed to make binary options trading a mainstream form of earning money online.
You’ve most likely come across many adverts of binary options brokers promising you that you can make quick millions trading binary options. While it is true that you can make money trading binary options, it is not always a walk in the park as some of the players in the industry might make you think.
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|Broker||Min Deposit ($)||Min Stake ($)||Max Payout (%)|
|Olymp Trade||10||1||92||1st Choice|
|IQ Option||10||1||95||2nd Choice|
Olymp trade is one of the few binary options brokers that give its Traders a real chance of being able to make a buck or two. Trading on Olymp trade is both a learning experience and a way of earning money. Olymp trade goes out of its way to ensure that its traders have a seamless experience while trading.
One of those it makes this possible is by ensuring its minimum deposits are low enough for beginner Traders and it has effective money transfer methods embedded onto its trading platforms. The conversation about the trading support and experience on Olymp trade is always an exciting one. However, today we are going to place most of our focus on its low minimum deposits and the methods of funds transfer that it has.
We are going to start with the low minimum deposit on Olymp trade. Olymp trade is popular for two reasons. First, it is popular because of the low minimum deposits which make it easy for any trader to start trading on Olymp trade. Second, Olymp trade’s trading platforms feature the best of trading technologies and more specifically the trading robots are quite exciting. Let’s make that a story for another day though.
Will get to understand how beneficial the low minimum deposits are 2 beginner Traders if we take time to understand the trading account structure on Olymp trade.
Olymp trade trading accounts
Olymp trade is one of those binary options brokers that do not complicate their trading account structure. Olymp trade only has two types of trading accounts. The most basic account on Olymp trade is called the standard account and all you need to get started on it is $10. The other account is known as the VIP account and it requires a significantly higher minimum deposit. That’s not much of a concern so long as you can get started with $10 on the standard account.
Understand that economies are very different across the world, and the $10 not always be a very little amount of money to some people. In some countries, $10 is not even a day’s wage. Keep in mind that binary options trading has been able to penetrate into a lot of countries around the world. Olymptrade itself operations in almost all continents of the world.
We cannot take away, from Olymp trade, its commitment to ensuring that beginner traders get the best footing while they are starting with the craft. Most notably, Olymp trade offers a very resourceful demo account to every new trader on its platform to ensure that they prepare themselves adequately for the real trading experience.
After understanding the kind of money needed to get started on Olymp trade, the next question we usually get is about transaction methods. How do you get your money into your Olymp Trade trading account?
Olymp Trade deposit and withdrawal methods
Trading on Olymp trade is an experience like no other. For you to be able to experience this blissful experience, you must have a trading balance on your account. You will need various money transfer methods in order to fund your trading account.
Olymptrade knows that its success is dependent on how seamlessly its clients can transact with it. As such, it does not fall short when it comes to providing a good variety of transaction methods. Like any other online business, it has its transaction methods divided into three categories.
On Olymp trade you can use any of these methods to deposit your funds;
- Credit or debit cards
- Wire or bank transfer
Now let’s go through each of these methods and see how they work on Olymp trade.
Credit or debit cards
Very few transaction methods are as seamless and convenient as Credit or debit cards. Every other online platform that receives money has Credit or debit cards as one of their method of payment. Credit card service providers are also multi-billion companies around the world. Interestingly, Olymp trade works with the best of them. That means that if you have access to credit or debit cards you will have a seamless time depositing money on Olymp trade.
One of the main pros of depositing money into Olymp trade using credit or debit cards is that the transaction is almost instant. Olymp trade systems are automated and you’re trading balance is going to reflect on your trading account at the moment the money you’ve sent hits Olymp Trade’s accounts. This is very important especially you when you need to deposit money immediately so that you can take advantage of a trading opportunity you’ve just noticed.
There are no downsides to using credit or debit cards to deposit money on Olymp trade. However, there are a few things that you need to keep in mind. Credit or debit cards are subject to verification before the payment can be completed. The verification process involves comparing the credit card information you’ve entered on the Checkout page and that registered on the card. Not that your computer through your IP address is going to pick your exact location. If your location paid by the computer and the address registered on the card do not much there is a high likelihood that your payment will be rejected. That means that you might only be able to use your credit card if you are trading from a location near your home.
Maestro, MasterCard, Visa, and Visa Electron are some of the major credit cards that you can use on Olymp trade.
E-wallets are considered one of the most modern and convenient way of making payments online. There is no doubt that they are quite convenient and it’s quite exciting that the transactions are always instant. The moment you hit the send button on your e-wallet is the same moment that Olymp trade received the funds on the other end and puts the trading balance up on your trading account.
There are many e-wallets available on the internet today. Olymp trade works with some of the best. They are listed below;
It is good that only in trade has a variety of e-wallets. That’s because it has operations in a lot of countries around the world. Keep in mind that these e-wallets are at times country-specific. That means that they might not be available in every country. In essence, you will find that to only one or two of these e-wallets. You’ll be quite lucky if you have access to three or more of them. So long as you have access to one of them you have a seamless and convenient way of transacting with Olymp trade.
We also must mention that e-wallets are the cheapest way of depositing your funds on your Olymp Trade account. Their charges are usually negligible. One more thing is that it is quite easy to complete the payment. All these wallets are embedded onto the Olymp Trade platform. All you will need to do is click on your favourite e-wallet will be late to our checkout page. Enter the amount I want to deposit and hit send.
Wire or bank transfers
Many people usually feel like wire or bank transfers I’m not the most ideal way of transacting online. The question usually is; why is it included in every other binary options broker as one of the favourite ways of transacting. That’s because the wire and bank transfers are very reliable and very safe. Bank transfers cannot be hacked and they are not prone to downtimes. They are the best option if you are depositing a large amount of money on Olymp trade.
The reason why people feel like wire or bank transfers are not very ideal is because the transaction we usually take a while to complete. A bank transfer could take as long as seven working days before the money reflects on your trading account. That means that you have to wait for all that time before you can be able to trade. Bank transfers are also very expensive. Bank transfers will charge you many times what you incur when you deposit using either e-wallet or cards.
As mentioned above, Olymp trade is available in many countries some of which are not very developed. That means that bank transfers might be the only means of depositing money available in such countries. Such traders would have no option but to use the only means available.
Withdrawing money from Olymp trade is just as seamless as depositing is. The same methods used to deposit all the same methods that are used for withdrawals.