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Olymp Trade Review in the Philippines in 2022: Scam or not?

Olymp Trade Review in the Philippines in 2022: Scam or not?
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Olymp Trade in the Philippines is one of the best brokers in this industry. It has over 25,000 clients who trade with them every day. This review will tell you about all the services that Olymp Trade provides, including account types, demo accounts, and how to use their mobile app. Basically, it will answer your questions about Olymp Trade!

Lots of people are looking for the best way to invest in themselves and their future, and it is becoming more difficult to find a company that is trustworthy. That’s why this Olymp trade review Philippines blog post will help you make an informed decision when choosing where to invest your time and money.

Broker Features Details   Demo
Olymp-Trade-logo ✅ Trade with $1
✅ Earn up to 90% profits
✅ Easy deposits
✅ Fast withdrawals
✅ Payout: 82 % for Standard, 90 % for VIP accounts
✅ Demo Account: Yes
FREE DEMO ACCOUNT WITH $10,000 FOR PRACTICING Try Demo

Olymp Trade in Philippines Company Details

Olymp Trade in Philippines

Olymp Trade has been in business since 2014, and they keep making their trading platform better. They have a reputation for doing that each year.

The brand has won numerous awards, including:

  • Best Financial Broker at the CPA Life Awards 2017,
  • Best Options Broker at the Forex Expo 2017,
  • Best Options Trading Platform at Le Fonti 2016
  • Fastest Growing Broker at ShowFx World 2016.

Olymp Trade offers an easy user interface, good customer service and plenty of resources to learn about how markets work.

The platform is suitable for people who are experienced and new. It has a lot of users every day, and this means it provides good service.

Trading Platform

Olymp Trade review in Philippines

Olymp Trade in the Philippines has a very user-friendly trading platform that features an intuitive design and simple navigation. 

It is easy to use for new traders but also offers advanced options like candlestick charts and technical analysis tools for experienced traders as well. 

The platform can be accessed online from any device with internet access, which makes it convenient to trade from any location. 

Lots of people are looking for the best way to invest in themselves and their future, and it is becoming more difficult to find a company that is trustworthy. 

That’s why this Olymp trade review in the Philippines blog post will help you make an informed decision when choosing where to invest your time and money.

Charts can be customized with different graph types and colors. You’ll see information on open trades at the bottom of the page. It’s easy to find what you want because the site is simple.

Assets/Markets

Assets/Markets

Olymp Trade offers a variety of assets to trade, including stocks, commodities, indices, and currencies. 

  • Stocks
  • Commodities
  • ETFs
  • Currencies
  • Cryptocurrency
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This gives traders a wide range of options to choose from when creating their trading portfolios. 

Olymp Trade also offers markets in multiple time frames so that traders can find the right trades for their schedules.

Deposits/Withdrawals

Deposits/Withdrawals

Olymp Trade offers a variety of options for depositing and withdrawing funds, including credit cards, e-wallets like Skrill and Neteller, bank transfers. 

They also accept deposits in multiple currencies so that traders can use their preferred currency when making investments. 

To ensure security with these transactions there is an additional layer of protection provided by the platform.

Olymp Trade in the Philippines provides a safe and secure trading platform for people all over the world to use, and it’s one of the best options available in this industry. 

Spreads & Commission

Spreads & Commission

Olymp Trade in the Philippines offers spreads from as low as 0.0365 on the EUR/USD pair all the way up to 355 pips for a single lot of GBP/JPY. 

They also offer a commission-free service where they make their profits by charging a small amount at the end of each trade rather than taking commissions throughout, giving traders more control over their portfolios and results overall.

Spreads also vary depending on the type of account you have. If you have a premium account, your spreads will be lower.

However, even with a standard account, spreads are still competitive. Spreads change depending on the current market conditions.

See, there are two types of accounts. One has a higher interest rate and another one has a lower interest rate. 

Spreads depend on the market conditions, so they might get smaller or bigger depending on what is happening in the economy.

Olymp Trade Fees in the Philippines

The company charges a fixed fee when you trade overnight. 

The fee is limited to 15% of the total amount invested.

They don’t charge an account maintenance fee, but they may do this if you don’t use your account in 180 days. 

It’s $10 per month for accounts that are inactive.

Olymp Trade charges you $10 per month. If there is not enough money in the account, they will close it and stop the service. They charge more for trades if you trade a lot or if it is an expensive trade.

Leverage

Leverages on Olymp Trade in the Philippines can be variable and depend on the type of trade you’re considering. 

The website promises attractive leverages up to 1:400. 

Leverage for the most popular forex pairs (such as the benchmark EURUSD) is set at 1:30. 

Minor pairs such as NZDUSD, USDSGD, AUDCAD, EURNOK, and EURPLN have the leverage of 1:20.

Mobile Apps

olymp trade mobile app

Olymp Trade offers a mobile app for both Android and iOS devices that allows traders to access their accounts from anywhere in the world. 

The apps are very user-friendly and offer all of the features available on the desktop platform. 

This makes it easy for traders to stay connected to their portfolios and make trades no matter where they are.

Both of these apps have a high rating. They are responsive and do the same things as the web version. If you have a smartphone, you can use them too.

Olymp Trade is a company that is quickly gaining a reputation for being one of the best binary options trading platforms in the world. 

They offer an intuitive trading platform in the Philippines, wide range of assets to trade, low spreads and commission-free service, and mobile apps for convenient trading on the go. 

Payment Methods

olymp trade payment methods in the philippines

Olymp Trade offers a variety of methods for depositing and withdrawing funds, including credit cards, e-wallets like Skrill and Neteller, bank transfers. They also accept deposits in multiple currencies so that traders can use their preferred currency when making investments. To ensure security with these transactions there is an additional layer of protection provided by the platform.

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Demo Account

demo account

Olymp Trade in the Philippines offers a demo account where traders can practice trading and learn how to use the platform without putting any of their own capital at risk. 

This is an excellent option for new traders who want to get used to the system before they start making real trades, and it is also helpful for experienced traders who need some extra time getting back up to speed after taking a break from trading.

Regulation & Licensing

Olymp Trade is regulated by the International Financial Commission (IFC) and headquartered in St. Vincent and the Grenadines.

However, concern has been raised in the past about the legitimacy of the International Financial Commission, and users may want to conduct a little bit of research into this body before deciding whether to consider Olymp Trade as a completely trustworthy broker.

The reason for this is because funds are generally only considered safe when a broker is regulated by an official body such as the UK Financial Conduct Authority (FCA), or Cyprus Securities & Exchange Commission, or the Australian Securities & Investments Commission (ASIC).

Account Types

Olymp Trade offers a variety of account types to fit the needs and budgets of their traders. 

a). Standard Account

To open a standard account, users need to deposit $10. People can trade at a minimum of $1 and up to a maximum of $2,000. 

The minimum amount that you can withdraw is also $10. You can set the spreads as wide as 1.1 pips.

b). VIP Account

You can get a VIP account by depositing $2,000. VIP account holders have special benefits like trading up to $5,000 and getting a VIP financial advisor who can give advice on trades. 

They also get access to extra training tools that standard account holders don’t get.

Customer Service

olymp trade customer service

Olymp Trade in the Philippines provides 24/h customer support via email so that traders can get assistance when they need it without needing to wait around all day long. 

In addition, there is live chat available during certain hours of the day where agents will be on hand to answer any questions you might have about your benefits or how to use the platform in general.

Overall, Olymp Trade is a great choice for options traders in the Philippines who are looking for a reliable and user-friendly platform with a wide range of features. 

They offer excellent customer service, multiple payment methods, and a variety of account types to choose from so that everyone can find the right fit for their needs. 

Olymp Trade Review in the Philippines: Pros and Cons

Pros

  • Great customizable platform
  • Low minimal deposit
  • Beginner-friendly
  • Fast withdrawal times

Cons

  • Only two account types
  • Bonuses with unclear terms

Olymp Trade Trading Hours in the Philippines

Olymp Trade is online 24 hours every day, all year. 

Investors can trade whenever they want, on mobile and desktop devices. But there are some markets that are not open all the time. 

For example, the forex market in London opens between 3am-12pm GMT and so you cannot trade during those hours.

Contact Details/Customer Support

You can contact Olymp Trade customer support in the Philippines anytime since they are available 24/7 via the following means:

  • Phone: +84 2844 581 413
  • Email: news@olymptrade.com
  • Web: olymptrade.com

Olymp Trade Accepted Countries

Olymp Trade accepts traders from Thailand, South Africa, Singapore, Hong Kong, India, United Arab Emirates, Saudi Arabia, Kuwait, Kenya, Luxembourg, Qatar and most other countries.

Traders can not use Olymp Trade from Canada, Australia, United States, Japan, Austria, Belgium, Bulgaria, Cyprus, Denmark, Finland, France, Germany, Ireland, Italy, Israel, Latvia, Lithuania, Netherlands, Norway, New Zealand, Portugal, Poland, Romania, Slovakia, El Salvador, Spain, Switzerland, Sweden, United Kingdom, Russian Federation.

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Best Alternatives to Olymp Trade in the Philippines

  • IQ Option offers a wide range of assets and an intuitive trading platform.
  • Expert Option –  a regulated broker with a wide range of features.
  • Binomo –  a newcomer to the industry but growing quickly.
  • OptionBit – a regulated broker with all of the same features as Olymp Trade, plus more currencies and account types available.
  • NordFX – offers trading in different accounts. For Forex trading you can choose between a Zero account and Crypto account. The Zero account offers trades without any spread, while the Crypto offer optimal cryptocurrency trading. Open an account for just $10.

Verdict

Olymp Trade is quickly gaining a reputation as one of the best online trading platform in the Philippines for FTT, CFDs. 

They offer an intuitive trading platform, wide range of assets to trade, low spreads and commission-free service, and mobile apps for convenient trading on the go. 

In addition, they provide 24/h customer support via email so that traders can get assistance when they need it without needing to wait around all day long. 

Create an account now, it is free and you get $10,000 to practice trading.

Frequently Asked Questions

Is Olymp trade available in Philippines?

Yes, it is. Olymp Trade has been available in the Philippines and you can start trading online in the Philippines.

Is olymp trade safe? 

Yes, Olymp Trade in the Philippines is one of the brokers that are considered to have a very high safety rate. They are regulated by the FCA and have a license from CySEC.

What assets can be traded on Olymp Trade? 

You can trade, Crypto, Forex, commodities, stocks, and indices on their platform.

How much money do I need to start trading? 

The minimum deposit is only $10 so it’s perfect for beginner traders.

What are the benefits of trading with Olymp Trade? 

are many benefits to trading with Olymp Trade, some of which include: a wide variety of assets available to trade, low minimum deposit requirement, high safety rate, and 24/hour customer support.

How do I open an account with Olymp Trade? 

Opening an account is easy and only takes a few minutes. You can do it online by filling the form below.

What are the risks of trading with Olymp Trade in the Philippines? 

Like any other form of investment, there is always some risk involved when trading binary options. However, Olymp Trade has a very high safety rate so the risk is minimized.

Is Olymp Trade legit? 

Yes, Olymp Trade is a very reputable company.

Is it safe to use olymp trade demo account in the Philippines? 

There are many things you need to consider before trading with real money. First of all, practice on their demo platform which is free and then only when you feel comfortable enough switch over to live trades. The Olymp trade demo account is a great way to practice and learn more about binary options trading.

What are the olymp trade withdrawal procedures in the Philippines? 

Olymp Trade has very simple and straightforward withdrawal procedures. You can find all the information on their website or by contacting customer support.

How does Olymp Trade compare to other brokers? 

Olymp Trade is one of the leading binary options brokers and is highly respected within the industry. They offer a wide variety of assets to trade, low minimum deposit requirement, high safety rate, and 24/hour customer support.


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About the author

Kevin is a seasoned trader and blogger with over six years of experience in the financial markets. He has been trading FX and cryptocurrencies for four years. Now he is into FTT. Kevin is passionate about teaching others how to trade on the web using IQ Option, Olymp Trade, and Expert Option.

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