The reasons this popular FX platform is reliable.
Is Olymp Trade real or fake? Understanding how trustworthy a broker is before creating an account is a must. Some cautious traders may see the platform’s ease of use and low barrier to entry as warning signs of an offer that is too good to be true.
Let’s take a look at what makes Olymp Trade real and reliable
Founded in 2014, Olymp Trade has been on a mission to make the world of finance accessible to all no matter their economic status. This broker has worked tirelessly to revolutionize the world of trading by offering previously excluded people access to markets around the world.
Since day one Olymp Trade has been a member of the International Financial Commission with a Verify My Trade execution certification. Learn more here.
Hundreds of thousands of traders from over 194 countries have chosen this platform. See why for yourself here.
What Are the Signs of a Bad Broker?
A scam broker’s primary goal is to take your money. These platforms seek to attract as many people as possible using tricky wording, false promises, and sketchy sales techniques. These scams are normally short-lived enterprises because it is difficult to maintain the illusion for long.
Typically, deposits are easily made, while withdrawals tend to be overly complicated and problematic. There can be huge unexpected fees or even “taxes” to pay. These platforms make it a point not to warn their users about these conditions often by hiding them in the fine print.
Another sign of a bad broker is slow or poor communication and a lack of transparency. Shady companies avoid sharing important legal information and credentials. Some even lie about being licensed by well-known US or EU regulators, with the hope that “clients” will not look into it.
Lastly, a bad broker will not spend money, time, or effort to develop long-term relationships with its clients. Scammers rather, invest just enough money to create a flashy visage that helps fool as many naive users as possible.
Olymp Trade Meets Industry’s Standards
To answer whether Olymp Trade is real or fake, we will look at this broker’s transparency. This broker proudly displays all of its must-see details on its website. Clients can find their Client Agreement, legal documents, information about company policies, and more.
In the Regulation section, clients can see the information around the company’s regulatory compliance. Here, users will find that Olymp Trade has been a Category A member of The Financial Commission since 2016. Users can view Olymp Trade’s Certificate with the click of a button. Need more information? The platform makes it easy for you by providing the emails of the Financial Commission and the broker’s Customer Support.
If you have any doubts as to whether the service provided by Olymp Trade is real or fake, note that the broker is also certified by Verify My Trade. This independent auditor analyzes Forex brokers’ performance to authorize that a platform’s pricing and other conditions are up to the industry’s standards.
Olymp Trade Doesn’t Promise You the Moon
Another way to know Olymp Trade is real is because the broker does not need to lure people into using their platform with grandiose promises.
Examples of offers you will never see from Olymp Trade:
- Fool-proof strategies and perfect tools
There are no tools or strategies that are profitable 100% of the time. Otherwise, every trader would be rich.
- Huge returns on small investments
No platform or broker can guarantee any returns, let alone huge ones.
- Unbelievable bonuses, gifts, prizes for registering
Modest bonuses of up to 40% and small gifts to encourage new registration are not the same as being promised a, “ $1,000 signing bonus and the latest iPhone.”
If someone calls or emails offering these or any other similar promises do not trust it. Only scammers call people with these types of offers. They have nothing to do with the platform they claim to be representing. Scams like these are why people wonder whether Olymp Trade is real or fake.
Support may ask for basic contact information (mail, phone number), account number, the name of a payment method used, or some digits from the payment source number but never all of the numbers. There are a number of different things a support representative may ask, however, there are questions they will never ask, that should alert people of a possible scam.
Customer support representatives will not ask for:
- The full number of your payment method
- Passport number or other sensitive information from ID documents
- Account/email password
Scammers choose platforms like Olymp Trade to mimic because it is such a reputable broker, and they hope to fool people. Olymp Trade representatives communicate with traders only through official social media channels or the platform support chat.
A real support specialist always introduces themself and states the name of the company.
Olymp Trade Has an Exemplary Record
Recently celebrating its 7th anniversary with a big trading tournament, this platform continues to happily serve its clients. For those still wondering if Olymp Trade is real or fake, seven years of loyal service, awards, and happy customers point to reliability.
Those who have been watching the company for the last several years know that Olymp Trade has made immense progress. The platform now hosts more than 60 mln accounts and serves traders from 194 countries. Its interface is localized into 13 languages to minimize barriers.
Clients know Olymp Trade is real because this broker invests heavily in improving the user interface, the trading community, and analytical tools to provide the best trader experience possible. Bad brokers do not spend money on bettering their user experience, because they do not expect them to stay.
For any and all information about the platform’s events, updates, and special offers, just subscribe and follow the official social media pages. Scams also do not put much effort into maintaining their social media.
Withdrawing Money is Easy
Most clients would tell you the platform has a genuinely user-friendly withdrawal procedure. The withdrawal process is another easy way to discern whether Olymp Trade is real or fake.
Bad brokers hate to see money leave the platform, so they make withdrawals clunky, costly, slow, or impossible.
Olymp Trade’s customers enjoy:
Note that clients may still pay fees to their bank or payment processor, but the broker charges nothing for deposits & withdrawals.
Withdraw any amount, $10 or greater.
All withdrawals are processed within 5 days and 90% are handled in 2 days or less. Advanced/Expert traders’ transfers are processed within hours.
Award-Winning 24/7 Support
In the debate over whether Olymp Trade is real or fake, its 24/7 Customer Support that is ready to handle clients’ issues in over a dozen of different languages, is a strong argument for real.
If a client has a problem or question related to Olymp Trade’s products, they can contact Customer Support at any time of day or night. To try to answer your question, “Is Olymp Trade real or Fake?” on the platform, go to the User Guide in the Help Center available in the Olymp Plus suite.
Find the Support button from the Help menu on the platform Customer Service chat to get answers to FAQs from the automated Knowledge Database or open a chat with an online consultant.
Traders can also email their questions or call the Customer Support hotline. To learn more about Olymp Trade’s amazing client support services here.
Industry Awards
Olymp Trade is real, validated by its most recent awards in 2021; Best Investment Broker, and Best Mobile Trading Platform. These are the latest in a long line of awards.
Over the years Olymp Trade has received many other awards, including Best Trading Platform, Best Customer Support Broker, and Best Mobile Experience. The complete list is on the site here.
These accolades should help determine whether Olymp Trade is real or fake. Not only make the winner happy and proud, but they also serve to confirm the platform’s credibility, improve its image, and attract new clients who prefer to deal with recognized industry leaders.
The Bottom Line
The hope is that these six reasons are enough to prove whether Olymp Trade is real or fake. This broker has worked for years to cultivate a reliable reputation by continuing to meet industry standards, making trading accessible, and educating traders.
See for yourself all this platform has to offer, and decide once on for all if, “Olymp Trade is real or fake.” Learn more here.
