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Olymptrade – Legitimate Platform or a Scam?

olymp trade logoOlympTrade is a trading platform that is designed for all types of investors and traders in mind, from the experienced investors to individuals who want to get a taste of the market. Today, it’s considered as one of the leading trading platforms, allowing its members to get engaged with binary trading and forex trading.

As a leading trading platform, OlympTrade provides the market with a one-stop hub for trading, complete with easy-to-understand trading tools and resources that are easy to follow and understand. In an effort to position its brand as one of the leading trading platforms, OlympTrade strives to provide the best trading experience, and at the same time helping its members (traders) get the right skills and boost their income along the way.

OlympTrade real reviews: Is it a scam?

OlympTrade is, of course, widely reviewed online, and majority of these reviews are positive. Our team managed to check and read some of the reviews posted in the top websites and community forums in different parts of the world including Russia, Brazil and United Kingdom.

And based on our casual reviews, we found out that this platform is easy to use, offering its members with friendly services, especially when it comes to funding and withdrawing from accounts. Some reviewers also noted the ability of the platform to allow customers to earn up to 90 percent profit on each profitable trade. In all reviews, customers and traders are one in saying that Olymp Trade offers a satisfying platform for trades.

Broker Bonus Min Deposit Payout Review Open Account
Olymp Trade
FREE DEMO ACCOUNT $ 10 82 % for Standard, 90 % for VIP accounts* Review Trade Now!

Negative trader reviews:

This trading platform ha also, naturally, received a number of negative reviews and feedback from verified customers. According to some reviews that are posted online, the trading platform is a scam, and will not allow its members to withdraw their funds. However, according to other people, common sense and our examination, these are empty accusations that can all be simply explained below.

Issue No. 1: Customers cannot withdraw their money.

Withdrawal is subject to certain conditions as explained by the following:

  • Customers are advised to verify their identities within a few days of registration and before depositing money.
  • The wagering requirements must be met, if the trader accepts to receive the trading bonus. The wagering requirements are set at x30 the bonus amount.

If these conditions are not met, then the withdrawal of the bonus funds will not be allowed. However, both of the reasons for canceling a withdrawal mentioned above are the same with all brokers in the world. Because of regulations, you are required to verify your identity with ALL brokers. In case you face the same problems, then it’s highly recommended to coordinate with Customer Support.

Issue No. 2: Customers are losing their money

Keep in mind that binary trading is all about risks, and there’s a big chance that you will lose money when you engage in this business. If you want to take the risk, then it’s better to be prepared. One thing that you can do is to try first the demo version of the trading platform before trading for real money.

It’s the nature of trading. Some people make money while the others lose. This is not a reason for calling a broker out. That’s why we always recommend trading on the demo account first, before depositing any real money. Also, keep learning about trading.

After all: Is Optiontrade a Legitimate Trading Platform?

Based on the assessment of the services and business practices, we can say that Olymptrade is not a scam. If indeed this was scamming company, then the most established and experienced investors and traders would have left the platform. Also, they could have left the most painful negative reviews for the trading platform. Based on available evidence and details, it seems that this trading platform offers a legitimate trading opportunity. The website offers transparency, and interested customers and traders can easily know and verify the services, starting from money management to order placement.

How to verify account at OlympTrade?

If you are from Nigeria, India, Pakistan, UK, whatever, the process of verification is the same for everybody on this planet. We are getting more and more questions about “how to verify my account”, “what documents do they want” etc… Please read this below carefully and keep in mind, that the process of verification is still the same and same for everybody, so you don’t need to worry about anything! Let’s go.

So to complete the verification (to withdraw your money) you need to send these documents:

  1. A photo where you hold your passport/ID card in expanded form and where they can see your face and the details in the passport/ID. It’s like a selfie with an appropriate document – nothing more. Note that the photo must be from your shoulders up and it must be easily seen (no blurry). Like on the image below.olymptrade verification
  2. Then you need to send them also the photo/scan of the appropriate document that you want to use – ID or passport.
  3. If you used for the deposit a credit card, you also need to send photo/scan of the card from which the payment was made. On the card, the first 6 and last 4 digits, name and surname must be seeable. The validity of the card and the rest of digits can’t be seeable (cover it). The reverse side of the card doesn’t need to be present (they don’t need it).
  4. If you used for the deposit an electronic wallets – A photo/screenshot of the personal electronic purse (Skrill for example) need to be also sent (screen the detail of your account). The information you need to provide is – the picture of number, owner’s name, and the second photo/screenshot must be of that right money transfer (that one your transferred money to OlympTrade).

Where to send the documents? 

Upon receipt of the verification request, all the necessary documents must be sent to the e-mail – together with the login (the login is the email address) you put during registration.

How long does verification take? Processing of the documents takes up to five business days. And the result of the document verification you will find on your email because you will receive an email with notification about the result.

That’s it – If you need to help with the verification, let us know and we will try to help you.

Corporate Information

OlympTrade is a legitimate and licensed broker which is recognized by the Financial Commission. As part of the commission, each trading account has insurance for $20,000. This trading platform is owned and operated by Wallfort Limited and the Inlustris Ltd, with the following mailing address:

  • Inlustris Ltd
    • Registration No.: 25161 IBC 2018. Registered Address: James Street, Kingstown, First Floor, First St Vincent Bank Ltd Building, Saint Vincent and the Grenadines.
  • Wallfort Limited
    • Registration number HE364695. Headquartered in Irodi Attikou 8A, Lakatamia, 2332, Nicosia, Cyprus.

More info about OlympTrade



More about the author: Step

I've wanted to build a business of some kind and earn money since I was in middle school. I wasn't very successful though until my senior year in highschool, when I finally started to think about doing online business. Nowadays I profitably trade binary options full-time and thus gladly share my experiences with you. More posts by this author

103 Responses to “Olymptrade – Legitimate Platform or a Scam?”

  1. if i have multiple olymp trade account will it be a reason to block my account? what happen if someone use my computer to log their account (same IP address)?

    1. Hello, I would rather not be trying to have multiple accounts, because maybe it can be a reason they can say that you “broker their conditions”, so it’s on you, but I don’t recommend it. The same IP for more accounts is ok, I guess.

  2. Hello Sir.
    Please, how can I verified my account?
    I’m a trader on this platform already.
    I’m a Nigerian, I made a deposit successfuly and traded even though I lose this time bcoz I’m a newbie, but I had learnt some important things.

    But have not veryfy my identity as you have explained above.

    Please, how can I do that?


    1. Hello David,

      you need to send the appropriate documents to verify your account. Usually, it’s:

      – Identity verification (a scan of national ID, a passport or a driver’s license)
      – Proof of residence (a scan of an energy bill, a bank statement or a credit card statement)
      – Credit card verification (a scan of your card, if a deposit is made with a credit card – you can hide the middle 8 numbers, of course)

      If you need more info, let us know.

  3. Olymptrade sounds good but, what is the process/s of withdrawing the money earned through my local bank account here in Nigeria?

  4. I tried a bunch of strategies. Many people advise Martingale, but many people are against it too. I think it is better to rely on economic reviews when trading instead of increasing your bets when you’re losing. What do you think is better to rely on when creating a strategy?

    1. Hey Mike, it depends on which kind of trader are you. If you like to risk and get high payments, you will maybe try martingale, but if you don’t need to hurry and you are patient, you will be trading using fundamental analysis and technical analysis.

      It really depends on many factors, I can’t tell this is better and this is bad, if you understand me.

  5. Thanks for this useful information, but my question is about identity verification. Must the name on the Visa or MasterCard tally with the scanned national I.d/driver’s licence. This is because my national I.d have my full names e.g Molly Ann Wilford, whereas my VisaCard has only my first and last name Molly Wilford as instructed in the form when I was filling it. Now, my fear is will it affect my Olymp Trade account verification and also, the withdrawal purpose? I have been practising on demo account for 3wks now but plan to start real trading this yr until I fortunately stormed your site today. And you talking about verification, so, I decided to ask before depositing any money. Pls, need your candid response. Thanks

    1. Hello, yes credit card holder’s name should be the same as the ID/Passport/Driving license, but In your case, I think it’s not going to be a problem. To be honest, I have never got a question like this and I also don’t have my own experience with “third name verification problem” but I think it’s gonna be ok. You can ask them on the support before you will go to the real account.

      Let us know, if you need more help 🙂

    1. Hello, it’s trading, so… it’s pretty easy. Some people make money and some don’t so the people that make money gets money from people that lose money. That’s it, it’s same on the every stock trading.

    1. Hello, I think that if you will text the support, they will charge your account once again, but I’m not sure. I have never tried to a re-charge olymptrade demo account.

  6. please i will like to know if this trading platform works in Ghana? and also please is there anyone who can take me through the process of learning?

  7. Please I’m still having difficulty in log in to my account via texting verification code to my phone number….and I have contacted my mobile network provider for the activation of DND service. Still I can’t log in up till now.

    1. Hello, thank you for your comment. Does it mean that when you put the code from a mobile phone on the website, it doesn’t work? I never had this problem, so I’m not sure what’s going on with it.

      Let us know more info and we will help you!

  8. I’ve been practicing on the demo account for almost three months. Recent results were quite encouraging, I deposited some money and even managed to withdraw it. So far no documents were required. I will keep you informed if there are any changes!

  9. Hi Im reading those your articles and I m littlebit confused with this timeframes please help me with it … what will be the IST timezone as compared to CEST-
    London: 9:00–17:00 (CEST)
    New York: 14:00–22:00 (CEST)
    Sydney: 23:00–7:00 (CEST)
    Tokyo: 1:00–9:00 (CEST)

  10. hey I am a newbie to all this-I wanna trade with IQ option and I from India I just wanna knw tht what is the overall process of Indian Rupees will convert in US dollar and at withdrawal how dollars will get me in Indian rupees… will it can be chargeable?

    1. Hello Senket, you can deposit in rupees and they will convert it to the currency you will choose (EUR/USD) and then they will convert it back when you be withdrawing your money.

      Let us know, if you need more info or help.

  11. I deposited 11$ but 20$ was deducted from my bank but only 11$ reflected in my acct.
    Then I requested for the withdrawal of 10$ yesterday but I haven’t been credited

    1. Hello, thank you for your message. It’s really weird that you deposited 11 but 20 is out of your account, that’s the first case like this I hear. Maybe you just put wrong order at brokers platform.

      Let us know, if you still got a problem with it.

    1. Hello, to verify your account you need to offer them appropriate documents.

      Usually, it’s this:

      – Identity verification (a scan of national ID, a passport or a driver’s license)
      – Proof of residence (a scan of an energy bill, a bank statement or a credit card statement)
      – Credit card verification (a scan of your card, if a deposit is made with a credit card – you can hide the middle 8 numbers, of course)

      If you need more help, let us know.

  12. Can olymp trade work in Nigeria because I am nigeria..
    Suppose if I invest $10 with MasterCard into my account and I use it to earn $90 can I still use the master card to withdraw like $80.

    1. Hello, thank you for your question. It’s the same with all the brokers. You need to send the appropriate documents and they will mark your account “verified”.

      I guess that you will need this:

      – Identity verification (a scan of national ID, a passport or a driver’s license)
      – Proof of residence (a scan of an energy bill, a bank statement or a credit card statement)
      – Credit card verification (a scan of your card, if a deposit is made with a credit card – you can hide the middle 8 numbers, of course)

    1. Hello, can you please specify your questions? What you would like to know? Deposit methods?

      Let us please know, so we can help you. Thank you and have a nice day.

  13. Please how do I fund my live account with Nigeria currency and how will I withdraw to Nigeria account . please put me through

    1. Hello, thank you for your question. There are many methods that you can use for depositing (Skrill, Mandin, Visa, MasterCard, etc…) for withdrawing it’s same. Just check their platform, log in and if you click “deposit” you will see all the methods.

      In case of need, let us know. Have a nice day.

  14. Hello are you sure that the chart stick is not being manipulated by somebody or management while trading?otherwise is it very difficult to predict correctly?

    1. Hello, I made a couple hundreds of trades here and I never had any problem with it, but I can’t tell you “they are 100% correct”. I have just good experience with this broker, but that doesn’t mean there can’t be someone else who had a problem. You should be careful.

  15. I’m a newbie in trading, but have already learned how not to lose. All you need is to open a demo, get trained with webinars and various lessons, and practice. The company provides it all. Moreover, real trading can be started from just $10 on the account.

      1. Hello, welcome in the trading world! You started right. It’s not good to “jump” in the trading and see what happens. You need some practice before you can make some money. Let us know with what you want to help and we will try to help you! Have a nice day.

  16. this is a good platform, but I will like to ask a question, my question is can I deposit with verve ATM card, cause am presently in Nigeria

    1. Hello, thank you so much for your questions. Is it MasterCard or visa card? If yes – I think it should be possible. But in case you need more information, it will be better to contact the olymtrade support directly. Hope my response will help you.

      Have a nice day.

  17. I have been trading with the demo account via olymp trade mobile app. I have been doing well. I want to invest real money but I am afraid to invest because I don’t know if I am with a good broker. I am in Nigeria, how will I know if am with a good broker?

    1. Hello, how are you today? 😉 We are happy that you were successful with your trading, it means that you are a good trader, but you should always be aware of scams and bad trading habits, even if you are a good trader. If you want to start trading with real money, try the olymptrade broker or the iqoption broker, which is a highly trusted and reliable broker. The IQOption has the best platform in the business, you can trust me, I love it, haha. You can also read real users reviews about the brokers on our website in the comment section below brokers reviews.

      Let us know which broker did you choose 🙂

      If there is something we can help you with, let us also know.

    2. How were you able to download the app? I’m from Nigeria as well. Kolade Is my name. It keeps telling me it’s not available for my please, how did you download the app. And since you can start with 10 dollars I think you should give it a try.

    3. I just discovered about the Olymtrade, I have been doing well with the demo account as I made additional $10,000 with 30minutes of signing up. I am from Nigeria, please will the trade still be the same if I trade with real money? Secondly, How can i fund my account from Nigeria? Is olymtrade broker a genuine broker that can guarantee my withdrawal after successful trading? Someone please answer my doubts.

      1. Hello, it seems like that you did well on the demo account 🙂 I have bad news for you there is nobody in this world who can guarantee you that you will have the same results on the real account. It depends on your skills, so nobody can tell “how good” you will be. You can fund your account with your credit (debit) card. And there shouldn’t be a problem to withdraw your money, I did it couple times and never had any problem.

        If you need more help, let us know and we will help you 🙂 Have a nice day.

  18. I read about a lot of bad and life shattering comments. I just want to implore people to be careful. There are a lot of fake brokers out there and real ones to. There are also fake recovery agents and real ones. Most are out to get your money while some are really out to help you get back on your feet.

    1. I’m interested pls how do I know the real brokers and how do I start cos I find it difficult to even download the app. I really need someone to put me through.

  19. I fully agree with things written in the article, especially with the part about the withdrawal of earned money. Account verification is the first thing that just needs to be done to eliminate most of the questions. I used Olymp’s bonuses, and had no problems money withdrawal as well.

  20. t if you lose you lose because of your trading skills i know so many people who lose becoz of their own mistake and then blame broker for the lose.I am trading with Olymp trade from over 1 year and now i am very happy with Olymp trade i think its very good option trading broker and if someone really knows how to trade then he can easily earn through Olymp trade platform.

      1. Hello, we are sorry but we don’t want to publish there your phone number. Somebody can misuse it.

        If you don’t know how to register at olymptrade platform, we can help you. Let us know 😉

        Thank you and have a nice day.

      1. Hello, thank you for your comment. Which what you exactly want to help? You are not able to go through the registration process? Or what’s the problem?

        Let us know, so we can help you.

      1. Hello, that’s very difficult questions. The first you need to know how things work and then you can start trading. We strictly don’t recommend you to start trading, if you don’t know the market and how trading works. Try trading on the demo account not on the real one. If you want to start with something, read these tips –

        If you need more help, let us know.

    1. Hello Fouke, you can use these methods to withdraw money:

      – E-wallets like Web Money, Neteller, Skrill, Bitcoin, Qiwi and Yandex Money
      – Use of Visa and MasterCard
      – Boleto, for customers based in Brazil

  21. I think I might have brought quite a lot of losses to Olymp 🙂 If you aren’t being greedy and ready to work with big time frames, the profitability becomes higher than 90% even without special strategies, just based on the indicators. Most of all I like working in the US session. The volatility is higher!

  22. I need tutorial and proper orientation!
    Perhaps, there might be valuable online materials that will enhance my trading skills, l would appreciate them.

    1. Hello, we are happy that you are interested in OlympTrader broker. Check their website and you will see that they have many educational materials. If you would like to know more general info about this broker, read olymptrade review.

      If you have any questions feel free to ask me.

  23. Please how and when is it eat for one to trade, I to know all the rudiments before venturing into this.
    Thank you.

  24. Olymp trade is good broker they offering good trading environment to traders Olymp trade mobile app is very simple and trading experience through mobile app is good too one can connect with markets all the time and can easily trade on mobile device customer support of olymp trade is good too and available in many languages really enjoying trading on Olymp trade.

  25. For all those people who want to start trading Olymp trade is good broker and trading platform in very userfriendly first better new traders do practice in demo account and then after practice start live account Olymp trade is reliable broker

  26. Trading Olymp Trade turned out to be quite good. As for working with him, I have only positive feedback. In addition, the money was withdrawn quite quickly, which can not but rejoice. I was satisfied with it.

    1. Hello Logan, we are really happy that you experience with this broker is just good. We hope that you are gonna have just positive experiences with this broker.

      Have a nice day.

  27. Trading Expertoption is quite enjoyable for work. During the time I worked with this broker, I had no problems whatsoever – everything is working fine, and with the withdrawal of money it seems everything is fine.

  28. Hello am Marcus, actually I began Olympic demo trade few days ago, I HV made certain amount of money above the bonus of $10000 and am confused … If I deposit, will I be able to withdraw the money I made from the demo trade….. please reply thanks

    1. Sorry to say that, but you won’t be able to Marcus. The demo mode is only for TESTING purposes. So you can check how the trading works, see if you like the platfrom etc. But you will never be able to withdraw any money from the demo account.

  29. In my opinion, the olymptrade broker is pretty handy for work. At least, I managed to work quite well with this broker, and to get a good profit. In principle, I am satisfied with the level of income.

  30. Excellent broker olymptrade. Problems with it did not arise – everything works fine. In my opinion, the company is quite worthy of attention.

    1. Hello Freem 🙂 We are also really satisfied with this broker and we are really happy that there is a lot of other people that have the same feelings.

  31. Olymptrade manipulates the candlesticks before trade expiry in binary options to their favor. You may think you have won the trade, but they manipulate the candlestick to zoom up to the losing majority. Whenever you complain they can’t help but refer you to their educational videos. They are not transparent. In fact they are fraudulent and they are not regulated in U.S or UK or EU. They are a big scam. How can you tell if they manipulate the candlesticks before expiry, check the price fluctuations and compare with another broker, you will find out that that’s how they rip people off by manipulation before expiry after which they return it back to the general closing price.

    1. Hello, thank you so much for this info. It’s your own experience (with the candlesticks) or just some hate without unsubstantiated evidence?

      Let us know, thank you.

      1. Hello, it depends on your requirements. What you want to trade, binary, forex, crypto? 😉 Let us know and we will help you to choose the right broker.

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The financial products offered by mentioned companies carry a high level of risk and can result in the loss of all your funds. You should never invest money that you cannot afford to lose.
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