How to use Olymp Trade and how to trade?
This overview article will familiarize you with the interface and trading logic for beginners. If you don’t have an account yet, use the buttons below to register on the official website.
- October 10, 2023
- 3:10 am
Before delving into the art of trading, it’s essential to grasp the foundations of Olymp Trade. If you’re already well-versed in its intricacies, feel free to venture ahead to explore the essentials of trading and the platform’s user interface.
What is Olymp Trade and How It Works
At its core, Olymp Trade stands as an international online brokerage platform, facilitating the trade of a diverse array of financial instruments, including forex and options. With access to over 200 unique markets, Olymp Trade caters to traders worldwide, offering a gateway to the dynamic world of finance. The platform operates under the watchful eye of the International Financial Commission (IFC), ensuring the utmost security and protection of client funds, which are safeguarded up to €20,000. Olymp Trade boasts a versatile presence, accessible through both desktop and mobile applications.
OlympTrade comes equipped with a innovative trading platform, designed to accommodate traders of all levels. Novices can embark on their journey risk-free with a demo account, generously endowed with $10,000 in virtual currency. Transitioning to real-money trading is a seamless process, with a minimum deposit requirement as low as $10. The trading conditions are favorable, offering returns of up to 92% or more on successful trades. Furthermore, forex traders can capitalize on leverage of up to 1:500, magnifying their trading potential.
Olymp Trade’s global reach extends its embrace to traders across a multitude of countries, including but not limited to India, Pakistan, South Africa, Nigeria, Kenya, Ghana, Uganda, Tanzania, Zimbabwe, Botswana, Namibia, Zambia, Lesotho, Eswatini, Cameroon, and more. This inclusivity ensures that individuals from diverse backgrounds can engage with the platform and explore its multifaceted offerings.
How does Olymp Trade work? Types of Trade.
I’m going to tell you about the benefits of the platform and show you how easy it is to start. Just imagine having access to two financial instruments: fixed-time trading (FTT) and Forex, available to trade at the same time, along with a wide variety of assets from different sectors and categories.
Olymp Trade is the easiest and most comfortable way to access the financial markets. Let me guide you through it. First, let’s explore the different assets available on the platform. In the upper left corner, you’ll find all the financial instruments that you can trade on the Olymp Trade platform.
You can choose to trade various cross-currency pairs, which represent the relative value of one country’s currency compared to another’s.
- There are also different commodities available, including resources like Brent oil, natural gas, and precious metals like gold and silver.
- Additionally, you can select from a diverse list of major company stocks, such as Apple, Amazon, Boeing, and many others.
- The platform even offers all major indices, which are combinations of various company stocks used to gauge the health of different economies. Examples include the German DAX, the US Dow Jones, and the UK FTSE.
- Many traders also find cryptocurrencies appealing, and you have options like Bitcoin, Litecoin, Ethereum, and ETFs, which are collections of securities like stocks and commodities.
The remarkable thing is that you don’t need to purchase or own any of these assets; you can profit from their price fluctuations. Let me demonstrate how the Olymp Trade platform is divided into two main parts: Fixed-Time Trading (FTT) and Forex. When you select an asset, its price movements and changes will be displayed on the platform’s chart.
For FTT, you need to predict whether the asset’s price will be higher or lower than the current price after a certain time period. You enter your trade amount and select the expiration time, which should typically be two or three times your working timeframe. The timeframe, located at the bottom center of the platform, determines how often the chart updates.
For example, if you’re on a one-hour timeframe, each candlestick represents one hour’s worth of price changes. In this case, your trade duration should be two or three hours. If you’re on a 15-minute timeframe, each candlestick shows 15 minutes of price changes, so your trade duration should be 30 to 45 minutes.
You can register immediately here:
How to Trade on Olymp Trade - for Beginners
Let’s take an example of the EUR/USD currency pair on a 1-minute timeframe (or 15 minute). If you predict the price will be higher in 30 to 45 minutes, you click the green button. If you believe it will be lower, you click the red button.
Your profit is determined by the rate of return, displayed next to each asset. If you enter a $100 trade with an 82 percent rate of return and your prediction is correct, your profit will be $82, adding up to $182 in your account balance. Olymp Trade offers high rates of return, up to 92 percent, which means high potential profits.
Two important points to remember: First, the exact price change doesn’t matter as long as it’s higher or lower than the opening price; your profit is fixed at the rate of return percentage. Second, the trade amount is the maximum potential loss; it’s not affected by the total account balance.
The second trading instrument is Forex, and here’s how it differs from FTT. In Forex, your profit accumulation depends on the extent of the price movement in the direction of your trade. There’s no fixed expiration time, so you can keep your trades open as long as you like and close them at your convenience for maximum profit.
On Forex, the profit is unlimited with Olymp Trade. Moreover, there’s no spread, unlike traditional Forex, meaning the price you see on the chart is the same as the opening and closing prices. There’s a commission for opening a trade, displayed before you enter the trade.
For classic currency pairs like EUR/USD, if you predict the Euro’s price will rise against the US Dollar, you open an up trade. Conversely, if you anticipate a decrease, you open a down trade.
You can also use the multiplier, which allows you to increase your trade size by a factor of 1 to 500 relative to your invested amount. For example, with a 100-dollar trade and a 100x multiplier, you’re effectively trading with a $10,000 position.
The multiplier is a powerful tool, but it should be used cautiously. Higher multipliers mean higher risk and higher potential profits, while lower multipliers reduce risk but also potential profit. Use it judiciously based on your confidence in the trade signal.
Commence by registering for a complimentary account. Opt to commence with a demo account for practice or dive headfirst into live trading with real capital.
Olymp Trade presents you with the choice between options trading and forex trading, with options gaining prominence owing to their potential for substantial returns within brief timeframes.
Lang:
